Speaking of which, in today's Qing Dynasty officialdom, Tian Wenjing can be regarded as already famous. In the place where Yongzheng succeeded to the throne, Tian Wenjing was sent by Yongzheng to Henan to check the deficit, and as soon as Tian Wenjing arrived, he implemented the method of trial and pursuit, that is, the officials who had been found to be in arrears of money and grain were gathered in Kaifeng, and then examined one by one, and sealed their property to sell it for compensation.

This method is almost to rectify the Henan officials to life is worse than death, and this year it will completely make up for the deficit of the administrative treasurer, and Tian Wenjing in the process of collecting money and grain, will be the grain collection silver cabinet to strengthen the seal, and ordered "the public face to dismantle, immediately send the craftsman to melt, is and consumes two points to solve the division, not the slightest remain." ”

Yongzheng naturally appreciates a capable official like Tian Wenjing, but in addition to appreciation, he also understands in his heart that if a character like him is put on the overall situation of Yungui, it will cause chaos.

"As far as the overall situation of Yunnan and Guizhou is concerned, it is more necessary to connect up and down, accumulate strength, and unite people's hearts, Tian Wenjing is not as good as Li Wei in this regard, and Li Wei is even worse than Ortai."

"The emperor really knows it, and the servants admire it."

Yongzheng nodded lightly, and then asked Zhang Tingyu to draw up a holy decree, so that Ortai, the governor of Shandong, would take over the post of governor of Yungui and Guizhou.

Zhang Tingyu quickly wrote the promotion and stamped the big seal, but he knew in his heart that this holy decree was only something on the surface, a really fatal thing, or a secret decree given behind it.

After this matter was dealt with, Yongzheng pretended to ask casually: "Hengchen, have you heard any rumors in the capital recently?" ”

Hearing Yongzheng ask, Zhang Tingyu's face changed slightly, but he lowered his head, but he was not discovered by Yongzheng, so he had to answer honestly: "There are some boring people in this capital all day long, they like to chew their teeth and flowers every day, and the slaves don't know what rumors the emperor said." ”

I have to say that Zhang Tingyu is already well versed in the three flavors of being an official, but the answer is extremely ingenious, if he says yes, then he will be very passive, and it is the duty of the minister to play the news, why not report it? Is there a disagreement with the emperor?

If you say no, then this is insulting Yongzheng's IQ, and he is also a member of the imperial court, so he never pays attention to what news is in the capital? Saying this will only add to the laughter.

Therefore, at the moment, Zhang Tingyu said it very cleverly, only saying that there is, but not saying which one it is, the reason is that there are too many rumors and too many listens.

A meaningful smile appeared on Yongzheng's face, "Hengchen, there has been some movement in Jingshan recently, you can go and take a look for me." ”

"Huh."

Although neither side made the words clear, Zhang Tingyu had fully understood the meaning of the words, what is Jingshan? That is the location of Kangxi Jingling, and now in Jingshan, the only thing that he really needs to see as a minister of military aircraft is the old fourteenth Yunyu, who has been under house arrest.

Another hot potato!

Zhang Tingyu couldn't help sighing, these brothers were afraid that they hadn't finished fighting yet, so they could only continue to look back.

.......

When the Qing court fell into the puzzle of open and secret fighting, Ning Chu once again began to toss the matter of 'money', after formulating a new monetary policy, it is equivalent to Ning Yu creating a chicken that lays golden eggs, but after all, the chicken is not a golden egg that can be directly exchanged for money, so the follow-up hatching is the key.

Therefore, in late April, Ning Yu held a meeting of the Great Chu Financial Cabinet in Fengtian Temple, the purpose of which was to hatch this golden egg.

In the splendid hall, there are only more than a dozen people standing under His Majesty, including cabinet ministers, several representatives of large consortia and chambers of commerce, as well as the newly appointed chairman of the Dachu Banking Regulatory Commission, Shi Nan Wang Ning Zhongxin, and Deng Boran, president of the Central Bank of Dachu.

In fact, the current Dachu Central Bank was actually reorganized from the original Huitong Bank, and Ning Zhongxin, as the original head of the bank, has now become Ning Chu's money bag.

As the chairman of the China Banking Regulatory Commission, Ning Zhongxin naturally does not want to continue to be in charge of the central bank, otherwise this power will be too great, and even Ning Zhongxin himself feels a little inappropriate in his heart, so even on the bright side, he has to remove the responsibilities of the central bank and hand it over to Deng Boran, a close confidant who has followed him for a long time.

Deng Boran, as the old minister of Conglong, has always been Ning Zhongxin's right-hand man, and he has also made great efforts, so this reorganization, he naturally became the first president of the central bank of Dachu.

At this time, the crowd stood at the foot of the stairs and listened to the university scholar Ernst talk in the hall, from the newly issued monetary system to the financial problems, but they were a little dizzy.

"Your Majesty, as well as gentlemen, now the potential of my Dachu is far from being realized, and the key is that the huge potential of finance has not been tapped, so our so-called lack of money today is essentially standing on the mountain of gold and crying poor, you don't know, what a big waste this is!"

"In the past, we didn't have a standard currency, a unified exchange rate, and even a regular treasury bond issuance mechanism! This means that our productive forces have not been opened, and as a currency in circulation, we have fallen into unprecedented deflation, and in many places we can only exchange goods, which is a sad regret for us. ”

.......

Everything Ernst said was not coherent, the language was chaotic, and it was mixed with many personal emotions, so not to mention those ministers, even Ning Yu himself had a headache when he heard it.

However, there are some basic things that he understands, that is, China in this era, even if there is a large amount of silver flowing in, but it is still in a terrible deflation.

The so-called deflation, that is, the amount of money circulating in the market is less than the amount of money needed in the circulation of commodities, resulting in currency appreciation and a general continuous decline in prices.

According to Ning Yu's understanding, the fall of the Ming Dynasty had a lot to do with deflation itself, and before a whip law, the taxes of each dynasty were paid in kind (cloth, grain) as the positive tax, and the monetary revenue only accounted for a small part of the state's fiscal revenue, essentially because of the lack of sufficient currency.

After a large amount of silver from the West entered China, silver became a positive endowment, and the people had to pay national taxes to be exchanged for silver in advance, and the financial system underwent a fundamental change, that is, the "silver standard" system of finance in the Ming Dynasty was essentially determined.

However, it should be noted that silver, as a currency, is itself used for payment, bulk trading and foreign trade, while the people's currency circulation is still dominated by copper coins. However, the problem is that as a currency, the value of copper coins is not stable enough, and it often fluctuates up and down depending on the ratio to silver.

Therefore, silver will not essentially become the main currency in circulation on a daily basis and will not cause deflation. However, silver as the standard currency, China itself does not produce silver, its supply is mainly from foreign trade, once foreign trade stops, silver will be tightened, and the corresponding need for more copper coins to counter silver.

But the problem is that China is not a big copper producer, and the consumption is huge, so all dynasties have a "money shortage" saying, "compared with the years, the public and private are not short of money, department stores are not accessible, thousands of merchants are tied, and people are embarrassed, which is called a money shortage." ”

It can be said that the emergence of Jiaozi, iron money and Ming treasure banknotes is essentially to deal with the problem of lack of copper in the Ming Dynasty.

"Copper field, early Ming Dynasty, but Jiangxi Dexing, lead mountain. Later, Liangshan in Sichuan, Wutai Mountain in Shanxi, Ningqiang, Luoyang and Yunnan in Shaanxi were all mined...... In the seventeenth year of Chenghua, Yunnan Road was closed to Nanzhou Tongkeng...... Jiajing, Long, and Wanjian have repeatedly opened various copper fields in Yunnan because of drum casting, and they have gradually gained less and less over time. When Chongzhen, he included ancient money for furnace smelting. ”

In this case, the copper money in the hands of the people is becoming more and more scarce, once encountering natural disasters and wars, the value of copper coins is even higher and lower, like the price of rice in Chongzhen's five years is 120 yuan per bucket of white rice, which is one penny of silver, that is, one stone of rice 1,200 Wen, one tael of silver, which is about the same as the current price of grain.

But in the fifteenth year of Chongzhen, due to the war, the price of white rice rose to five taels of silver per stone, and the money was 12,000 odd, which is not a complicated mathematical problem - first of all, if the price of rice is calculated with silver, it has risen five times, but it has risen ten times with copper money, and the ratio of silver price to copper price at the end of the Ming Dynasty has changed, which is the result of the sharp decline in silver imports.

Therefore, in the future, the decoupling of the gold and silver standard from the currency is itself an inevitable thing, but this time will be delayed for a long time, and it will not be until the end of the 20th century, that is, after the complete disintegration of the Bretton Woods system, that society will get rid of the restrictions of the gold and silver standard, and at that time, the currency used by mankind is actually the credit currency issued by the government.

Of course, in this era, it is impossible for these things to be developed in one step, but this does not mean that Ning Yu cannot use some means to amplify the capital magic of the entire Great Chu.

Among them, paper money was originally a good means, but because of the history of Jiaozi and Daming treasure banknotes due to various reasons, completely reduced to waste paper, so that the status of paper money in people's minds gradually declined, almost reduced to the same nature as scammers. Therefore, before Ning Chu has completely consolidated its foundation, it cannot directly issue banknotes.

However, just because you can't issue banknotes doesn't mean there's no other way to go.

"Your Majesty, now that I want to realize the reform of the financial system, I first need to understand that silver buried in the ground has no effect, and only by circulating it can the value be realized, so this process of circulation needs to be completed by our bank." Ernst waved his hands with an impassioned expression.

Deng Boran, the governor of the Central Bank, nodded slightly, "Does the bank that Scholar Ernst is talking about mean our central bank?" ”

"No, in the future, the central bank will not focus on private lending, but on issuing money. The rest of the business will be dispersed to other state-owned banks and royal banks, and a small number of private banks will also be opened. ”

Ning Yu interjected a sentence and came in, he had to set a tone for everyone first, no matter what, this cake will be the first bite of the court and the royal family, and the rest will belong to you big clans.

It's just that as soon as these words came out, Ning Zhongjing and Cui Wancai were happy first, and Cui Yu, as a representative of the royal consortium, also looked satisfied, but Cheng Moran, the representative of the Cheng family, and some other representatives of the big clan, had a little nervousness on their faces.

They don't dare to grab food from the court and the royal family, but if they can get some soup, they can go back and make a difference.

Ernst laughed softly at this time: "Everyone, capital itself is full of infinite imagination, and it takes the help of countless people to become bigger, you don't have to worry that you don't have enough interests, you will only hate yourself for not having enough capital in your hands before the benefits come." ”

"To understand how this works, we need to understand one effect in Europe, and that is the Netherlands."

When Ernst narrated, Ning Yu did not look at a loss like others, but with a look of understanding on his face, when it came to manipulating capital, the Netherlands went much earlier than other countries.

"The Netherlands is a very, very small country, how small is it........ It is about half the size of Jiangsu, and the population is pitifully small, only 1.5 million people, far less than the great China, but it has created a very advanced system, that is, the joint-stock company. ”

"More than a hundred years ago, the Netherlands was much weaker than it is now, so to speak, very poor, and later they created the world's first joint-stock company, the Dutch East India Company, and all the money at the beginning of the establishment of this company was financed from the whole society, and they issued shares to everyone, and a piece of paper worth one hundred and fifty guilders, about forty taels of silver."

"What? Just a piece of paper is worth forty taels of silver? ”

Although everyone present is a smart person, there are still people who are churning and questioning, this is even darker than the Daming treasure banknotes of the year!

"That's right, forty taels of silver, only one stock, and they promised that every Dutchman, as long as he bought the shares, could voluntarily become an investor or shareholder of the United Company, and in the future he would also share in the profits of the United Company's ocean trade." Ernst said with a smile.

Cui Wancai had a little puzzled on his face, and said softly: "But who can guarantee that after making money, the money will be distributed to these shareholders?" What should I do if I lose money? Can the shareholders' money be returned? ”

Ning Yu heard his father-in-law's question, but nodded secretly in his heart, this question was indeed asked more directly and in place.

"Jisuke-sama, your questions are great, I will answer them one by one."

Ernst nodded, and then said: "First of all, I would like to explain to you that the Dutch United Company at that time issued a notice to all shareholders, that is, for ten years at that time, the company will not pay dividends to shareholders, and its profits will be used to continue to build ships, hire people, open up the ocean trade market, and then achieve expansion. That sounds crazy, it's the craziest liar in the world, isn't it? ”

The big guy couldn't help but nodded, who would buy the so-called stocks, whoever bought it would be a fool!