Otaku Engineer in Great Tang Dynasty

The minister knew that His Majesty had worries, but the appearance of Yanhuang Bank and Tang Yuan definitely had more advantages than disadvantages for Datang. Please consider carefully! "

In the Ganlu Hall, Li Zexuan bowed.

The bank and Tang Yuan, which have been around for more than half a month, finally ushered in the super "big test" they must go through!

If you pass the exam, you will be a student; if you fail the exam, you will die!

Li Er asked faintly: "Oh? Then tell me, what benefits can this bank and Tang Yuan bring to Datang~?"

Li Zexuan organized some language in his heart, and said slowly:

"Your Majesty, first of all, Tang Yuan is lighter than copper coins, which is more conducive to transactions between merchants and people, especially large-value transactions! For example, buying a carriage, the price of a carriage nowadays is hundreds of coins, hundreds of coins. , The weight is a thousand jins, at least two or three bullock carts must be installed! And if you use Tang Yuan to pay the bill, you only need a few such 100 Tang Yuan banknotes to easily complete such a sum. Transaction, both for the buyer and the seller, saves a lot of time!"

While talking, Li Zexuan took out a banknote with a face value of one hundred Tang Yuan. Li Er asked Zhao Song to present Tang Yuan, and he looked at it carefully and said:

"As Xuanling said, you are very exquisitely printed by Tang Yuan! What you just said, I have already understood before, but it is impossible for me to abandon copper coins and use Tang Yuan just because Tang Yuan is more convenient than copper coins! Once national turmoil is caused, you cannot bear this responsibility, nor can I!"

Li Zexuan arched his hands and said: "Your Majesty said that! This Tang Yuan may indeed cause turmoil in the country. It is absolutely correct to be cautious!"

Li Er frowned, and said in a bad mood: "Your kid just said that Tang Yuan is so good, why do you say that now?"

"Your Majesty, the reason why this Tang Yuan might cause national turmoil is entirely because it is so easy to use and has too many advantages! To talk about the disadvantages of Tang Yuan, you must start with Tang Yuan's advantages!"

Li Zexuan smiled and continued: "In addition to the point just said, Tang Yuan's second advantage is that it is extremely safe to carry and can make up for the "money shortage"! At present, my annual output of copper in Datang is about 300. More than ten thousand catties, even if all used to cast copper coins, it can only cast more than six hundred thousand coins!

Since your majesty's accession to the throne, he has cooperated with the civil and military forces of the Manchus to vigorously develop people's livelihood. The 600,000 coin minting vehicles per year may have been enough in previous years, but since last year, the private copper coins have been stretched. With the development of production and the acceleration of commodity circulation in various states and counties in Datang, the speed of casting copper coins will become less and less able to keep up with the needs of the people for copper coins!

At that time, there will be a large-scale money shortage. How should the court deal with it? Is it necessary to restrict private production? Of course not, this is hindering my progress in Datang! And if there were banks and Tang Yuan, and the imperial court mandated that Tang Yuan could completely replace copper coins, there would be no money shortage at all! "

Li Er's heart moved. What Li Zexuan said really touched the pain in his heart. His family knew about his family affairs. Datang's annual coinage was actually less than the 600,000 coins Li Zexuan said, and it is undeniable that since the world is peaceful In the future, non-governmental agricultural production has recovered very quickly. The increase in copper coins in the entire Datang has almost failed to keep up with the demand for copper coins by the people. If this continues, the court really has nothing to do!

At that time, will the court again suppress the value of all commodities? For example, if three pennies and one bucket of rice are suppressed to two pennies, the demand for copper coins will naturally decrease, but how is that possible? The prices at this time are already very, very cheap, and they must not be suppressed anymore!

"What do you mean is that after Tang Yuan replaces copper coins, I can alleviate the money shortage by issuing Tang Yuan on a large scale?"

Li Er frowned and asked.

Datang's current currency system does have problems, but he always feels that Tang Yuan will also have hidden dangers, and it is "not practical" to use it!

Li Zexuan hurriedly shook his head and said: "Your Majesty, this is one of Tang Yuan's disadvantages and hidden dangers! Tang Yuan can solve the money shortage and quickly generate a lot of wealth for the court, but there is a huge risk hidden behind it! Your Majesty. Wise, superb, superb self-control, but can you guarantee that future emperors will be the same as you?

In case there is an emperor who is greedy for temporary gains and overprints Tang Yuan to deal with the financial difficulties of the court, the Tang Yuan flowing to the people is much higher than what the people need. The people think that Tang Yuan is worthless, and they will crazily want to go to the bank to treat Tang Yuan. Converted into copper coins, at that time, the new currency system established with Tang Yuan will collapse quickly, and if one fails, the country will also collapse. "

Li Er suddenly realized that he finally understood what he had been worrying about. He asked: "Then what is the circulation of your Tang Yuan based on?"

Li Zexuan replied: “At present, of course it depends on how much copper money is prepared in the bank! The bank and the initial period of Tang Yuan’s operation, the bank must provide 10% or at least 80% of the reserves for the Tang Yuan issued! In other words, if the bank wants to To issue one hundred thousand tang yuan, one must have at least eighty thousand guan reserves for the ordinary exchange of people and businessmen!

Tang Yuan is nothing but a credit voucher. Only when everyone believes that Tang Yuan can be exchanged for copper money at any time, they will use Tang Yuan with confidence! Moreover, as the people and businessmen trust Tang Yuan more and more, the number of exchanges of copper coins will be significantly reduced. At that time, the reserve required by the bank can be reduced to about 40 to 60%! At that time, even though Datang could only mint 600,000 tongs of copper each year, it could issue at least one million Tang yuan! "

Li Er's eyes lit up and he finally smiled and said, "This is also a good idea, but I listen to you. Isn't it determined that the future Tang Yuan issuance depends on how much copper money is prepared in the bank?"

Li Zexuan replied: "Of course not! This method of issuing Tang Yuan with copper coins as a guarantee is just the most basic method of the bank! When Tang Yuan is accepted by most people later, there is no need for a corresponding proportion. At that time, the credibility of the court was used as a guarantee, and the amount of Tang Yuan to be issued was determined according to the value created by all the people in Datang every year! Therefore, this bank must be in the hands of the court!"

Currency issuance in modern society has basically gone through three stages:

One is the gold and silver reserve system: under the metal currency system ~www.ltnovel.com~ once stipulated that the central bank must have a 100% reserve for issuing bank rolls, because at that time bank rolls could be freely exchanged for gold and silver.

The second is the guarantee reserve system: after the non-realized credit currency system replaces the metal currency system, the central bank's currency issuance is allowed to be guaranteed by securities, foreign exchange and even other assets. (This is one reason why the country attaches importance to foreign exchange reserves)

The third is to manage the currency system: In order to prevent the central bank from issuing banknotes indiscriminately, many countries have implemented a system of maximum banknote issuance.

In Li Zexuan's plan, Tang Yuan must develop from an initial exchange currency to a credit currency, and eventually develop into an official currency issued by the state, completely replacing copper money!

After all, in his opinion, in addition to making money, copper is still very useful in other aspects!

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