Then, at the suggestion of Zhu Cihong, several officials of the Ministry of Finance discussed the amount of materials to be used in the new Tianwu Tongbao (copper coin).

There were data references in all dynasties, and there was a comparison of the quality and cost of private money circulating in the market, and this problem was quickly solved.

Immediately after that, the topic of the meeting turned to silver.

Zhu Cihong looked at Cheng Guoxiang, who was trembling and got up, and said, "Cheng Lao, you just sit down and talk, you don't have to get up." ”

"Thank you for your grace!"

Cheng Guoxiang was not polite, took a few breaths and sat down, and the folds on his face gradually stretched.

He is dying, he has been preparing for this new currency innovation for many years, hoping to see the imperial court implement the new currency and innovate the market before leaving.

It is not in vain that he has managed the money and food of Daming for more than ten years, and contributed the last trace of strength to Daming.

Cheng Guoxiang suggested: "The minister suggests issuing silver coins to unify the weight of silver coins!" ”

All of you here are either officials of the Ministry of Finance or big businessmen who have been in the business world for many years, and you are still familiar with the concept of silver coins.

Silver coins were first made by Westerners and were the currency in circulation in countries with a silver standard.

The silver dollar circulating in the coastal area of the Ming Dynasty is the Spanish silver dollar, also known as the pillar ocean, the ocean, and the Buddha's head, which is a silver coin minted by the Spaniards in Latin America a hundred years ago.

During the Wanli period, the silver dollar flowed into the Ming market, but it never became a circulating currency, but only as a plaything or collectible for the scholar class.

It was not until the Qing Dynasty that China minted the "Qianlong Treasure" silver coin in Tibet for the first time, imitated the silver yuan in Taiwan, Fujian and other places during the Daoguang period, and the Qing court officially minted the silver dollar "Guangxu Yuanbao" (i.e., Longyang) during the Guangxu period, and the provinces followed suit.

After the establishment of the silver standard currency system during the Republic of China, the silver dollar was used as the main circulating currency.

At this time, the Ming Dynasty mainly used copper coins as the payment unit, but because of the chaos in the market caused by the private minting of copper coins, the people slowly abandoned copper coins in material transactions and changed to the use of silver, which accelerated the large-scale use of currency silver.

Daming does not have the ancient value of silver taels, only official silver folded silver, in order to facilitate the statistics cast into the shape of silver ingots.

The broken silver circulating in the market is cut from an ingot of silver with silver scissors, and then weighed and calculated with a silver scale, and it depends on the fineness of the silver, which is very troublesome, often cut thin, and consumed by wear and tear.

If you make a piece of silver yuan, it is very convenient, you don't have to weigh it, look at the color, and the people are convenient.

Listening to Cheng Guoxiang's detailed introduction, everyone present admired it, Cheng Lao deserved to be in charge of the money for a lifetime, this policy can be described as benefiting the country and the people!

Then, Cheng Guoxiang gave a detailed introduction to the face value of the silver dollar he set.

According to the fineness, there are also different silver content, the face value of the silver dollar is divided into a circle, five corners, one corner, one circle is equal to one tael of silver, and so on.

After all, the face value of the silver yuan is not small, and Cheng Guoxiang also set up a copper circle, with a denomination of one cent, which is equivalent to ten yuan money.

A penny coin, that is, a standard square-hole copper coin, is called Tianwu Tongbao.

It is equivalent to one Tianwu Tongbao is one dollar, a copper round is ten yuan, a dime silver yuan is one hundred yuan, a five-pointed silver yuan is five hundred yuan, and one silver yuan is one thousand yuan.

According to the price calculation, one tael of silver in the Ming Dynasty is equivalent to 6,000 yuan in later generations, and the silver yuan of the Tianwu Dynasty, if it is in good condition, can be used as a thousand yuan in later generations.

After determining the silver yuan, for bulk commodity transactions such as sea trade, Cheng Guoxiang once again suggested that paper money be launched.

A bulk commodity transaction often requires tens of thousands of taels of silver, even if it is a new silver dollar, the highest denomination of the dollar, it also has to cost thousands of catties, how to get it?

In the past, most of the bulk commodity transactions in the Ming Dynasty were carried out with the silver bills of the Mingshang Bank, but after all, the Mingshang Bank was not available in every place, and the merchants in many places were still inconvenient, and the businessmen from European countries felt even more inconvenient.

European merchants are accustomed to using currency with a total amount of value, and for the Ming Dynasty, a monetary system with silver as its own weight, it is very difficult to use and the experience is very poor.

Every time they came to Daming to do business, they could only exchange the silver dollars in their hands for purchasing power according to their weight.

Some foreign merchants simply buy enough silver nuggets first, and then come to the Ming Dynasty to do business, and when they use it, it involves issues such as fineness, purity and quality of silver, which is very troublesome.

No matter how troublesome it is, you have to make money, after solving a series of problems, when the foreign merchants are loaded with goods and ready to prepare the Ming coast, they have to find a way to exchange the remaining silver nuggets in their hands and then exchange them back for the silver coins that are common in Europe.

If you take the silver nugget back to Europe, or bring it back to India, you can't use it at all, and it really becomes a waste mine, which is a loss.

Rao is so troublesome, most of the European businessmen can only endure this unchanged, continue to come to Daming to do business, who let Daming's goods have an absolute advantage, and the profits are so high.

There is a saying in the countryside of Daming, called "Money is hard to earn, is hard to eat!" ”

But how can you do it without eating? And Daming's is really fragrant!

Now the Ming Dynasty implements a new monetary system, with large denomination banknotes, which can avoid the trouble of changing currency, which is naturally more in line with the usage habits of European businessmen, and will eat more deliciously in the future!

The imperial meeting of the Qianqing Palace was held for a full day, until it was dark and the new monetary system had not yet been established, and the meeting continued to be discussed the next day.

It is not very difficult for these currencies to circulate, and they have value in themselves.

The Imperial Council focused on the issuance and circulation of banknotes, and how to avoid repeating the same path as the Ming Dynasty.

Daming treasure banknote is the only official banknote issued by the Ming Dynasty, and later due to the indiscriminate issuance of banknotes, resulting in inflation, public resentment boiling, abolished during the Zhengde period.

The failure of the Ming treasure banknote is mainly due to the lack of modern reserve awareness, the issuance of treasure banknotes is overflowing, and only issued but not received, neither demarcation, nor recycling old banknotes.

As a result, there are more and more Daming treasure banknotes circulating in the market, flooding, and depreciation is becoming more and more severe.

The tax of the imperial court only collects a small amount of treasure money, or does not collect treasure money at all, and only collects gold, silver and copper money, so that the credibility of treasure money is naturally getting worse.

Zhu Cihong fully absorbed the lessons of the mistakes of the previous dynasties in issuing new currencies and made full preparations.

In addition, the grain stamps issued in Fengyang Mansion ten years ago have been able to exchange grain in full, and the credibility is still good, so that the current Tianwu Dynasty has a high degree of credibility among the people, which can basically ensure the smooth issuance of paper money.

For the naming of the banknote, some people proposed to call it Ming Yuan, so that it is easy for people to know that this is the banknote issued by the Ming Dynasty, and it also makes the world know more about the Ming Dynasty.

Zhu Cihong was reluctant to use the name Ming Yuan, thinking that it was unlucky, Ming Yuan, Ming coin, and Ming coin......

"The sons and daughters of China, the descendants of Yan and Huang, and the descendants of the dragon, I think it is more appropriate to use the name 'Long Yuan', which can not only reflect the sacredness among the people, but also show that this is my Ming money."

In the end, the dictatorship of Zhu Cihong's Sacred Heart determined the name.

The last issue to be discussed was the pattern of the dragon yuan, and the topic was lively, some people proposed to print a dragon, some suggested to print the Tianmen, and some suggested to print the five mountains and the Yellow River.

In the lively atmosphere, everyone had different opinions, and the quarrel was deadlocked.

I only listened to Huang Zongxi, the right attendant of the Ministry of Finance, and suddenly said: "According to the minister, the front of this dragon yuan is printed with the head of His Majesty, and according to different denominations, the reverse side is printed with the pattern proposed by everyone......

When everyone present heard that Huang Zongxi had actually moved up His Majesty's portraits, they immediately stopped talking and stopped arguing.

What else is being discussed! Who is against? Who is in favor?

After seven days of discussions, all the details were considered in detail, and the matter of currency reform was finally decided.

In order to promote financial development, Zhu Cihong also ordered the establishment of several types of banks, such as policy banks, commercial banks, and investment banks, and each type of bank has one or two banks under it.

In order to support these banks, Zhu Cihong transferred the taxes from all parts of the Ming Dynasty and the rice of all officials through these banks.