Soon after the news of the state political supervisor spread, there was a lot of uproar, eight or nine out of ten officials did not approve, and the prince Jiang Yu did not approve either, for two reasons, one is to save money and eat interest, where does the interest come from, in the eyes of everyone, the interest can only come from the treasury.

The second is that Bailiyan is suspected of seeking personal gain, because only a few people know the inside information of not using the treasure to mint money, so saving money to eat interest, from the outside world, it has become a tool for Bailiyan to seek personal gain.

The prince then consulted with King Xian, and King Xian had made up his mind and asked him to go to Bailiyan. At the same time, Gao Xun copied the Qianfang business charter drafted by Bailiyan as soon as possible and forwarded it to the State Political Supervision and various departments.

At dusk, the prince's car arrived at the Yongxing Marquis' Mansion, and Bailiyan set up a banquet in the middle courtyard to entertain Jiang Yu.

Regarding Jiang Yu's attitude, Bai Liyan was very conflicted in her heart.

He is the crown prince, and he is the eldest son among the princes, but the original wife of the main room is Xihuan Princess Xihuan of the Jin Kingdom, and her words and deeds will eventually be transmitted to Xihuan's ears through the mouth of the prince.

At present, it is still the practice of establishing the chief as the main prince, and if the prince has no principled fault, it is difficult to depose him and replace him. King Jiang Hai of Xian is a lesson from the past, because the first king abolished the eldest son Jiang He, and set up the second son Jiang Hai, which eventually led to the rebellion of Fengyang Jun, and the lesson of blood also prompted King Xian to easily dare not say anything about abolishing Chang Liyou.

In the hopeless situation of deposing the crown prince, Bai Liyan had to cautiously maneuver between Jiang Yu and Xihuan, not only to make Jiang Yu understand and accept his proposition willingly, but also not to offend Jiang Yu, causing conflicts between the new monarch and the former kings and old ministers in the future, but also to avoid leaking too many core secrets, which was known to Xihuan, this task was really not easy.

"Your Royal Highness the Prince, the matter of the money shop mentioned by the minister is intended to gather the financial resources of the whole country in the imperial court and use it for the imperial court, so that the money can be turned over where there is a shortage of money, and the money can flow into the city where there is a lot of money, so that only by letting the gold and silver money continue to circulate, the money can continue to flow in and out, so that the business will be better, the people will be rich, and the treasury will be more substantial.

And if you just hoard gold and silver, copper coins will become more worthless, and the goods will be more expensive when converted into copper coins, when there is less and less gold and silver on the market, the cycle will start a vicious circle, and there will be no difference between the country and the people and the king, so the new money and the money are imperative, and the advantages outweigh the disadvantages. ”

"According to the meaning of the big Si Nong, if the money is run properly, the money will only increase, but copper is more than gold and silver, gold and silver are scarce, over the years when the commercial goods are expensive, the treasury can still cast copper coins for emergencies, if the gold and silver are empty in the future, the treasury will be used to mint money, the big Si Nong has ever thought about it."

"It is precisely because copper coins can be easily minted without restraint that this leads to uncontrolled minting of new coins to make up for the old, resulting in the price of copper coins in Xianguo, and the people hate it. Often, the ten yuan you get this month can only buy nine yuan of goods in the next month, so a large amount of unrestrained investment of new money, the treasury is to solve the urgent need, but the people are the victims, and finally hurt the country.

Although gold and silver are scarce, they can control the indiscriminate issuance of new coins, and at the same time, supplemented by the operation of money mills and the political strategy of the imperial court, the situation of low copper prices will be completely reversed. ”

At present, there is still a shallow understanding of the dangers of inflation, and as long as the treasury is short of money, it mints out a large amount of new money, and there is no restraint. In addition to being able to mint money, the Department of Taxation has no other financial control measures, and most of the other princes have solved their financial difficulties in this way.

In the end, the first to be unlucky is the common people, the inflationary effect through economic circulation, will eventually be reflected in taxes and treasury revenue, in the final analysis, primitive finance is the relationship between money supply and basic productivity, market material supply.

Less goods are expensive, more money is cheap, this is the essence of the market, will not because of more money, the total amount of goods will change, the fundamental problem is still in productivity.

Precious metals are actually depreciating, but the efficiency of precious metals in participating in social circulation is far less than that of copper coins, so the depreciation of precious metals is not obvious.

When society is in turmoil for a long time, and the supply of goods is drastically reduced or even cut off, gold and silver will also lose their measured value.

It is really not easy to turn these truths into simple and easy-to-understand truths and relay them to Jiang Yu.

"Da Si Nong, now all the officials say that Da Si Nong covets the treasure of the treasury, so he deposits in the name of Qian Fang for profit, can Da Si Nong tell this prince, since the Qian Fang is opened in the name of the imperial court, how much profit will the treasury make?"

"Prince Qiyu, with the current situation, it is good not to lose money in a short period of time, and it is not profitable at all, so the savers also need to risk losing their money, if there is only risk, and there is no return, who else will deposit gold and silver in the money shop for the use of the court.

As for the profit of the Hou deposit, it is even more nonsense, in the past eight years, the minister's government has pasted into Yongxing City and the treasury money year after year, which is equivalent to more than 900,000 yuan of silver, especially in the last one or two years, this is not counting the pearls and glass products that are paid to the treasury every year, such a huge investment, if there is no profit, sooner or later even the capital will be lost.

These officials are standing and talking without backache, and if the money is profitable, except for the depositors' profits, the rest is owned by the state treasury, and the state treasury can also use it for expenditure, and it can also be used as capital to continue to invest in the money bank.

If they have money, they can also deposit it in the money shop, they also benefit, why Benhou profits, it is for their own selfishness, is it not a big joke in the world. ”

"According to Da Si Nong, Qian Fang is not profitable at the beginning, and it may lose money?"

"Yes, but in the long run, the benefits far outweigh the disadvantages. As long as the current situation is maintained, the people will be relieved, and the new policies will continue to be implemented in the capital county of Xianxi and Qiunan, as short as one or two years, and three or four years at the slowest, Qianfang can turn losses into profits. ”

"How much gold and silver does the Great Si Nong have to mint?"

As soon as Jiang Yu asked this, Bai Liyan finally knew that he didn't actually care about Qianfang, but about the Xianwang Inner Mansion.

And Bai Liyan also found that the prince's words were not quite like Xihuan's parroting of the wind blowing on the pillow behind his back, because Xihuan didn't have time at all, which inevitably made Bailiyan feel a little underestimated by the prince.

Now that the treasury is empty, this is well known, Jiang Yu must think that this time to use the treasures, if he uses too much, then he will have less property belonging to him after he succeeds to the throne.

Of course, as a prince, it is understandable to care about how much money is minted, and it is even natural to do so.

However, the issuance of new currency must be to replace the current total value of the old currency as the primary goal, the crown prince, as the prince, auxiliary government for five years, is basically clear about the currency situation in his own country's market, precisely because the total amount is too large, the more gold and silver need to be consumed.

After thinking about it for a while, Bai Liyan did not give a positive answer, but said:

"The first batch of new coins will be minted much less than in previous years, between two and three percent, but the purchase price of the new coins will be much higher, so the purchase price of the first batch of new coins will be two or even three times higher than the total value of the old coins minted in previous years."

"In this way, it does not take much to spend gold and silver, and in the future, those who have money will deposit the gold and silver into the money shop, and the money shop can use the profit to mint money again, which is what Dasi Nong means."

"Yes, Prince."

Bai Liyan affirmed, but she didn't think so in her heart.

Since the treasure could not be used to issue currency, the original principal from the Luhou, Xuantinghou, Yongxing Hou, the treasury and the Xianwang Inner Mansion had to be minted into new coins, and the gold and silver in the hands of the newly vassal people and the foreign soldiers and craftsmen who returned to the annex were transferred to the money shop in disguised form in the name of exchanging new coins, and then minted again into the market.

In addition to the reserves raised in normal business, the rest will be minted into new coins until the market demand is basically met.