Reborn Tang Emperor Li Chengqian

Chapter 476 Casting New Money (1)

"Qi Zuo Your Majesty! In recent days, private minting of coins has become increasingly rampant in various places, and bad money is flooding. Now it has interfered with the normal economic order. If it is not stopped, it will not take long to cause serious economic problems in the Tang Dynasty."

In the early morning, the Minister of the Ministry of household affairs went out to salute and play.

Since ancient times, counterfeit money and bad money have never stopped. It is not uncommon for private individuals to secretly mint coins in the corner and let them circulate in the market.

Once the flood of low-quality coins in the world, it will lead to economic instability of the entire dynasty, and even cause economic and social crises.

In order to maintain social stability and economic stability, the dynasty will severely crack down on those who steal coins.

In the fourth year of Wude, the edict: "Those who dare to steal coins will die, lose their family property, and be exiled." To severely punish those who privately minted coins.

Even if this is the case, it still cannot prevent some people from privately minting coins, allowing low-quality coins to circulate on the market, thus disrupting the stability of the economy, but these people can profit from it.

"My dear friends, what is the solution to the issue of privately minted and stolen coins? Everyone can speak freely." Li Chengqian asked.

"The minister thinks that control should be strengthened and the private minting of coins should be prohibited." A minister said.

"How to prohibit it? The laws of my Tang Dynasty stipulate that anyone who privately mints coins, the mastermind will be sentenced to death, and the accomplices will be exiled for three thousand miles."

"Family wealth is confiscated, and family members are punished together. Even this has not completely eliminated the private minting of coins by the people. How can you prohibit it?" Li Chengqian said.

The ministers were speechless, they had nothing good to do in this regard.

"Your Majesty!" Di Renjie, who had just returned to Beijing, stood up and said, "The reason why the people can mint coins privately is because some minerals are not controlled by the imperial court."

"In this way, these minerals in private hands can easily become the raw materials for privately minted coins, and they will unscrupulously privately mint coins."

With the raw materials in hand, it is much easier to manufacture low-quality coins, and the bad money produced is more profitable than selling raw materials. This is one of the reasons for the private minting of coins.

For example, with the same weight of a catty, the price of a catty of copper sold directly is three times cheaper than a catty of copper made of cheap money, or even more.

In this way, private minting of coins by the people will appear. As long as the cost of making bad money is lower than that of selling raw materials, many people will take risks to mint coins privately.

"You mean to take all the minerals in the world back to the imperial court? To block the possibility of private minting of coins?" Li Chengqian asked.

How can things be so simple.

"Returning the minerals to the imperial court is only part of the overall plan. Even if the imperial court controls all the minerals, the people can also obtain raw materials through other means. The imperial court must also increase the price of the minerals used to make coins."

"At the same time, the circulation of these raw materials must be strictly controlled. What is the reason for all buyers? What are the uses, and the quantity must be strictly controlled."

"Although this can't completely eradicate the private minting of coins by the people, it can also reduce the number of private minting coins." Di Renjie said.

It is absolutely impossible to completely eradicate it. No matter how high the price of raw materials is, there will still be people who privately mint coins to disrupt Datang's economic stability.

"What Di Aiqing said is very reasonable, then Zhongshusheren will draft an imperial edict and announce it to the world. From today onwards, the price and circulation of coins will be strictly controlled."

"And all the private mines will be owned by the imperial court. Anyone who dares to stop them will have no family property, and they will all be exiled for three thousand miles, and will not be tolerated." Li Chengqian said.

"I obey the order!" Zhongshu Sheren came out to salute.

"Are there any Aiqings who need to present or add something?" Li Chengqian asked.

"Your Majesty! I have something to say." Shang Shu Zuo Pushe and Li Ke, the third rank under Tong Zhongshu, said.

"Just say what you have to say." Li Chengqian said.

"Nowadays, a large number of low-quality coins are circulating in the market, so that most of the people barter and give up the coin transaction. I suggest that all these low-quality coins should be recovered and destroyed, and then the imperial government will recast coins and circulate them in the market. Come on." Li Ke said.

"Zuo Pushe is right, so how should we collect these low-quality coins?" Li Chengqian asked.

"I thought you could exchange real coins for low-quality money, and exchange one real coin for ten low-quality coins." Li Ke said.

"I think it's wrong." Di Renjie said.

"What's wrong, Di Qing, please tell me." Li Chengqian said.

"If the imperial court really exchanges one real money for ten bad money, it may not be able to achieve the expected effect, but it may be counterproductive. If the price of new money is too high, people will collect more old money, which will lead to business difficulties. The consequences of increasing the price of millet and silk." Di Renjie said.

"Since this doesn't work, then let's lower the price and exchange one penny for two pennies!" Li Ke said.

"No!" Di Renjie objected without hesitation.

"What's wrong?" Li Ke asked.

You object if the price is high, and you also object if the price is low.

"If you follow your suggestion, King Wu, the people will hide the cheap money at a low price, and wait for the news that the government bans bad money to pass, and then use it."

"It's also useless. Bad money will still circulate in the market, causing chaos in the entire economy." Di Renjie said.

"Then what can Di Qing do?" Li Chengqian asked.

It was Di Renjie who proposed to collect the bad money. Presumably he should have a corresponding countermeasure.

"Create new money, prohibit the use of any old money in the market, and the old money will no longer be used as currency."

"Anyone who has old money in their hands or at home can exchange it for new money of the same value at a local bank, exchanging the old for the new."

"Anyone who hoards old money privately will be punished severely, and anyone who reports meritorious service will be rewarded heavily."

"All the old money stored in the bank will be directly exchanged for new money, and all the old money will be recast into new money." Di Renjie said.

"Di Qing's method is feasible, so he set up a coin minting bureau in the Ministry of Industry. From now on, all matters of coin minting will be handled by the Ministry of Industry." Li Chengqian said.

"Thank you, Your Majesty! I will live up to your Majesty's expectations, but what kind of style the new money should be, the size, thickness, weight, etc. of the coin, and what standards, please let your Majesty express it clearly." Minister of the Ministry of Industry said out of the list.

"Except for Shangshu of the Ministry of Industry, Zuo Pushe, and Di Qing, everyone else should retreat from the court! Before the new money is minted, no one is allowed to leak any information. Anyone who leaks the secret will be killed without mercy!" Li Chengqian said.

"No!" The officials saluted and retreated.

(End of this chapter)