The six-dimensional pictures of emperors of all dynasties were exposed, and the ancestors panicked

Chapter 503 Zhu Yuanzhang’s Achievements (Part )

【Emperor Zhu Yuanzhang of the Ming Dynasty】

[Military achievements: Reshape the world and unify the world. ]

[Evaluation S level, 5 points]

……

The period of Emperor Wu of the Han Dynasty
Liu Che drank the wine silently.

Respecting the king and expelling the barbarians, the debate between the barbarians and the Chinese.

The Central Plains and the foreign Hu were in endless entanglement.

In the blink of an eye, China changed hands twice.

"The merits here are beyond reproach."

……

Great Sui.

“It’s like a dream.”

Yang Jian felt that he should also be considered a person who reshaped the world, right?
Dugu Jialuo saw through his heart.

He said coldly:
"You are half..."

……

Great Song.

Zhao Kuangyin was a little dazed.

It seemed like a long time had passed from the Song Dynasty to the Ming Dynasty.

It seemed like a flash.

"It's enough for Hu Xing to sink once."

……

[Institutional Construction: When talking about the Ming Dynasty system, one cannot avoid the financial system. ]

[The Ming Dynasty had the most rigorous means of centralization, but also the most clumsy financial tools. ]

[Many financial experiences of previous dynasties became a burden in the Ming Dynasty.]

……

Ming dynasty.

Zhu Biao looked at the sky and then glanced at Queen Ma.

Queen Ma also looked towards the sky and said helplessly:

"Let the imperial physician give you the acupuncture."

"Given your father's stubborn temper, he won't believe it unless you let him see it."

"Even if he relayed it, he would just insist that others didn't understand."

"Furthermore……"

Empress Ma turned her head and glanced at Zhu Yuanzhang lying on the bed, and said unhappily:
"It's not harmful, just stab it!"

Zhu Biao smiled weakly and waved his hand.

The eunuch brought in the imperial physician and asked him to give acupuncture.

Little Zhu Di outside was sitting on the doorstep, holding his face with his hands, looking very happy.

"He has both literary and military skills, wisdom and courage."

"As expected of me!"

……

[In the late Yuan Dynasty, excessive issuance of paper money led to inflation and currency depreciation. ]

[In the end, it was "Ten ingots of capital money could not be exchanged for a bushel of millet"]

[“All counties and prefectures traded with each other through goods”]

【Therefore, after Zhu Yuanzhang established the Ming Dynasty, he minted Hongwu Tongbao coins. 】

【However, due to the war, copper mining came to a standstill, and the government had no choice but to force the people to destroy their copperware and hand it over for coinage.】

[This practice has caused dissatisfaction among the people.]

[In 1375 AD, he followed the example of the Yuan Dynasty and issued paper money.]

……

During the Song Dynasty and Renzong Period
Zhao Zhen found it very strange.

When it comes to fighting, the Song Dynasty might be a little bit inferior.

But the Song Dynasty with its high economy is far ahead!
In the Ming Dynasty's situation, it was not enough to just copy.

What's important about banknotes is not the paper itself.

But it is the gold and silver behind the paper money.

……

[The paper money issued in the Ming Dynasty was called "Da Ming Bao Chao"]

[The currency value is divided into six levels: one guan, five hundred wen, four hundred wen, three hundred wen, two hundred wen, and one hundred wen.]

【According to Zhu Yuanzhang's design, transactions above 100 wen should use paper money, and transactions below 100 wen should use copper coins. 】

[He stipulated the ratios of several intermediaries, one string of banknotes corresponding to one thousand coins and one ounce of silver]

[Every four strings of banknotes is equivalent to one ounce of gold. ]

[Not only paper money is linked to copper coins, but also the ratios of gold, silver and copper coins are linked]

[Forcibly locked the exchange rate between several items]

The policies that go with the issuance of banknotes are:

[1. It will be circulated together with copper coins. Anyone who counterfeits it will be sentenced to death. People are encouraged to report it. Not only will the informant receive a reward of 250 taels of silver, but he will also get the property of the person who reported it.]

【Second, from now on, it is forbidden for the people to use gold and silver for transactions, and whistleblowing is encouraged. The whistleblower can obtain the property of the person being whistleblower. 】【However, the people are allowed to exchange gold and silver for paper money from the court. 】

[When paying taxes, both money and paper money are collected, with three tenths of the money collected and seven tenths of the paper money collected. If the amount is less than 100 wen, only copper coins can be used. ]

……

Song Shenzong Period
"I still suffer from my lack of education."

Zhao Xu looked at the chaotic exchange rates and ratios in the sky.

"Thirty years is an overestimation by me."

According to this calculation, if a person holds one tael of gold, he can exchange it for four strings of paper money according to the ratio.

But, if he doesn’t want the paper money anymore and wants to take back the gold, he finds that there is no exchange window?

Just from this point, we can see that Zhu Yuanzhang had no idea about the mechanism behind currency circulation.

He didn't know that the reason why people accepted paper money was because of the gold and silver backing it.

……

{Compared with the paper money of the Song and Yuan dynasties, the defects of the Ming Dynasty treasure notes are very obvious.}
{Even if there is no precious metal or other material as the banknote capital (reserve), the issuance of paper money is also unrestricted.}
{As a general rule, newly printed banknotes must enter the market mainly by exchanging old banknotes, and cannot be directly withdrawn by the government.}
{For example, directly printing new banknotes to pay salaries to officials and soldiers, and directly using new banknotes to purchase supplies from the public.}
{If this is the case, it would be like the government issuing excessive banknotes to impose implicit taxes on the people, which would inevitably lead to inflation and the value of banknotes would fall accordingly.}
{And this is exactly what was done during the Hongwu era.}
{During the Hongwu period, the issuance of Baochao was divided into two categories: regular expenditure and temporary expenditure. Regular expenditure gradually reached 9 million guan, while temporary expenditure was between 3 million and 5 million guan}

{In the 1386th year of Hongwu (), the amount reached more than million guan, and in the st year of Hongwu and the following three years, the amount reached more than million guan}

{However, the annual amount of collection was only about 150,000 strings of cash in the early period of the reign of Emperor Hongwu, and it was not until around the 23rd year of the reign of Emperor Hongwu that it reached 20 million strings of cash.}
{Not only is the ratio of input to recycling extremely asymmetric, but the expenditure is entirely for fiscal purposes and has little to do with social and economic production and circulation.}
……

The period of Emperor Wen of the Han Dynasty
Liu Qi's eyes were blank.

I don't understand, what does it mean?
He looked to the Almighty Father for wisdom.

Liu Heng looked at him calmly and said:

"Remember, after copying Zuo Zhuan, copy Guan Zi ten times as well."

Liu Qi's face twisted.

The loss has already been suffered! Even if I die, I will be a wise ghost!

"So, why, Father?"

Liu Heng continued to look at the sky and said calmly:

"I've already said that tax collection requires that paper money cannot be used for everything."

"When paying, only 70% can be paid in banknotes and 30% in copper coins or gold and silver."

"Then in order to collect the hard currency for paying taxes, you have to buy it at a high price."

“There is definitely a devaluation of paper money.”

Liu Qi's face darkened.

“I don’t understand…”

Liu Heng sighed.

"Empress Gaozu allowed the people to mint their own elm pod coins."

“As long as there is a mold, people will start making money.”

"If you don't have a mold, you can just make one out of mud."

"There are all kinds of coin money circulating in the market, causing prices to soar."

"There is too much money issued, supply exceeds demand, inflation occurs, prices rise, and the purchasing power of money decreases."

Liu Qi understood this time.

“No wonder the tax in kind was used in the end.”

"Because the monetary system has collapsed, the emperor prefers hard currency in taxation!"

……

[The Ming government issued Ming Baochao in the early Ming Dynasty, which was a convenient measure for private transactions and merchant trade]

【But Zhu Yuanzhang knew nothing about finance, fiscal policy, and trade. 】

[The economic laws of currency issuance are not followed, there is no reserve, and the issuance volume is not controlled]

[It was issued in the eighth year of Hongwu, but depreciated significantly in the twenty-third year, and could not be stopped by the end of Hongwu]

[The Ming government's monetary policy failed.]

……

Ming dynasty.

Zhu Yuanzhang looked at the sky calmly.

Empress Ma and Zhu Biao were not as angry and frustrated as imagined.

He just watched quietly.

Zhu Biao looked at his father.

But he suddenly thought of the days when he was the Crown Prince of Wu.

……

Ming Dynasty: Emperor Yingzong
"It has to be me!"

Zhu Qizhen sat on the throne and waved his hand.

"If I hadn't abolished the ban on silver, the people of the world would still be living in fear!"

Yuan Bin on the side said with a smile:

"Your Majesty is a man of great talent, thrift and compassion for the people."

"He is the wise ruler of the Ming Dynasty."

The young emperor threw his head back and laughed:
"Hahahaha!"

"Surpassing our ancestors! Starting from me!"

……

(End of this chapter)