"Depreciation?"

Emperor Hongzhi was stunned, he really didn't know about the depreciation of silver in the capital area, after all, he didn't spend money personally.

So, he turned his head to look at Xiao Jing.

Xiao Jing showed a bitter face, because of this question, he didn't know!

Xiao Jing basically couldn't spend money personally, and the people below hadn't reported to him that the silver was not as valuable as before, so he didn't know anything about the depreciation of the silver.

Because of Xiao Jing's dereliction of duty, he was sincerely afraid, and he fell into the eyes of everyone, and everyone understood that Xiao Jing, the intelligence chief, probably didn't know about the depreciation of silver.

"Yu Qiao, if you have anything to say, just say it!"

Emperor Hongzhi saw Xie Qian's appearance of wanting to speak and stopped, and immediately called out Xie Qian's name.

was named by Emperor Hongzhi, Xie Qian also had a bitter face, he didn't know the situation like Xiao Jing, it's just that his peacemaker personality doesn't like to offend people.

The British public Zhang Mao is obviously very opposed to the "One Whip Law", so Xie Qian knows very well in his heart that if he stands up and says that the silver is indeed depreciating, he will inevitably offend Zhang Mao.

However, the emperor named him, and he had to say it!

"Your Majesty, the silver of the capital may ...... It has indeed depreciated, because recently the ministers have used silver to buy things, and many things have risen in price, and according to the merchants, there is more silver in the market, and silver is not as valuable as it used to be. ”

Xie Qian replied stiffly.

"It's really depreciated!"

Emperor Hongzhi was a little incredulous.

Li Zhaotong hurriedly stood up and explained:

"Your Majesty, since the establishment of the Daming Royal Exchange, many landlords have dug up the money under the ground to invest in the stock market, and then, those commercial houses, in order to keep their stock prices from falling, they need to expand the scale of the commercial bank, and the scale of the expansion of the commercial bank needs to spend money, and the money is spent, and the silver circulating in the market will become more, and the silver will naturally depreciate."

"Why does the value of silver depreciate when there is more silver in circulation?"

For economics, Emperor Hongzhi naturally doesn't understand, in fact, the bigwigs present at most know a little bit of fur.

Therefore, everyone looked at Li Zhaotong.

Li Zhaotong explained:

"Your Majesty, this is easy to explain. The general content is that the amount of silver circulating in the market has increased, which means that there are more people who spend money, and more people who spend money, but there is no sudden increase in the number of goods, so the price of goods has increased, and the value of silver has naturally depreciated.

In fact, there is a very typical example of this truth, that is, the Daming treasure banknote.

The issuance of Daming treasure banknotes, very does not follow the laws of the market, all kinds of indiscriminate issuance, so that the treasure banknotes flooded, serious depreciation, and finally, caused the current situation, everyone is unwilling to accept treasure money, and even disgusted it. ”

"Virtuous nephew, according to you, as long as I order the quantity of the treasure banknote to be controlled, so that the quantity of the treasure money is equal to the amount of goods, the treasure money can be brought back to life?"

Daming treasure banknote is a "divine object" made by Zhu Yuanzhang patting his head, but this "divine object" has finally become a "waste" that everyone hates, which has to be said to be a very regrettable thing.

Emperor Hongzhi, as a descendant of Zhu Yuanzhang, if he has the ability to bring the Ming treasure back to life, then after a hundred years, he will be able to face Emperor Taizu Gao calmly with only this one merit.

Therefore, Emperor Hongzhi very much hoped that the Ming treasure banknote would come back to life.

"No way."

Li Zhaotong quickly extinguished the illusions of Emperor Hongzhi, and he immediately explained:

"Your Majesty, the Daming treasure banknote has been discredited by the people, and the people no longer recognize the Daming treasure banknote, this Daming treasure banknote, in the eyes of the people, is a piece of waste paper, even if you work hard, the people should not be willing to accept it.

In addition, if you take back a part of the Daming treasure banknotes, how can you recover them? The court pays money, or your treasury appears and exchanges it with the people? None of this is realistic.

As for asking the people to hand over the surplus Daming treasure banknotes for destruction, it is even more unrealistic, because this involves a question of fairness, who should pay and who should not pay, which is a big problem.

So, Your Majesty, it's a pity that the Da Ming treasure banknote is no longer salvageable, unless ......"

"Unless what?"

Emperor Hongzhi still had illusions, so he immediately rushed to ask, he pinned his hopes on Li Zhaotong, the "son of a saint", and hoped that Li Zhaotong, a miraculous person, could turn decay into magic and bring the Ming treasure back to life.

"Your Majesty, my answer may make you regretful."

Li Zhaotong saw that Emperor Hongzhi still had illusions, so he first gave Emperor Hongzhi a preventive shot, and then said:

"Your Majesty, unless, you issue a new Daming treasure banknote, of course, can no longer be called the Ming treasure banknote, because the Ming treasure banknote has been completely discredited to the people, you should take a different name, and then, with this new banknote, to replace the Ming treasure banknote, and even replace the copper money, silver, in order to alleviate my Ming lack of copper, silver, lack of gold."

"New Da Ming Treasure Banknote?"

Emperor Hongzhi and others were stunned. They all have doubts:

"Is this really possible?"

Soon, Li Zhaotong gave an affirmative answer:

"That's right, the new Daming Treasure Banknote!"

"How will it be issued?"

Emperor Hongzhi knew very well in his heart that the re-issuance of a new Daming treasure banknote must not be so simple, if it is issued at will, this new Ming treasure banknote, the final outcome must be no different from the Ming treasure banknote, becoming a piece of waste paper.

Li Zhaotong is very cautious in issuing banknotes, because the Daming treasure banknotes really hurt the people of the Ming Dynasty, including the noble class, so it is difficult to issue banknotes!

Therefore, after he set up the Ming Imperial Stock Exchange, he did not pull Zhu Houzhao and Emperor Hongzhi to engage in banking.

Because he has always had scruples about this matter.

Therefore, Li Zhaotong seemed very careful, he thought about it carefully before replying:

"Your Majesty, my people of the Ming Dynasty, because of the Ming treasure banknotes, they naturally reject paper money, so it is definitely not possible to issue paper money immediately.

The little nephew's suggestion is that Your Majesty take the lead, unite some families, take out the silver, and set up a money bank, which the little nephew prefers to call it a bank and issue banknotes similar to silver bills.

How much money the bank has, it can only issue as much as collateral, which is used as collateral to win the trust of the people, which is equivalent to the paper money issued by this bank, that is, the silver bills, which are as secure as those money banks, so that the people may be able to eliminate their doubts and gradually choose to use paper money. ”

Li Zhaotong didn't mention credit currency, he didn't dare to mention it, and he couldn't mention it, because the issuance of credit currency involved was too wide, and he couldn't explain it himself, even if he asked the system for advice, and then explained it to Emperor Hongzhi and others, it was useless.

Because these people can't understand this knowledge for a while, Daming can't find a few, and it can even be said that there are no talents who are proficient in economics and finance, including Li Zhaotong himself.