Chapter 388: A New Currency
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Jews can only take advantage of it, they can't trust too much, and they can't dictate things.
Of course, as long as you convert and try to integrate into England, you can still believe a little, such as Adler. Todd.
"Like you, all Jews must convert to the state religion if they want to continue living in England, or else—"
Saying this, Edward clearly felt Adler's body tremble more and more.
"Otherwise, let them go! Go to a place that doesn't care about their beliefs! ”
"Yes, Your Majesty, I will explain it to them in detail, please rest assured!"
Adler then let go of his heart hanging in mid-air and assured.
"By the way, if he is converted, his wife and children must be converted, otherwise he will go back wherever he came from!"
The sound of His Majesty's voice in his ears made Adler's heart tighten, and it reminded him of the fact that his wife and children were also forced to convert, and his wife was still haggard for a long time.
"Yes, Your Majesty!" Adler agreed in a deep voice.
"Knock knock—" There was a knock on the door.
"Come in—" Edward said casually.
"Your Majesty, Central Bank Governor John . Sir George has arrived! A young secretary of the secretarial group, dressed in a decent dress, said in a crisp voice.
"Let him in!"
Immediately afterwards, a gentle and elegant middle-aged man walked in, he was dressed in a modest and elegant outfit, with a sexy and thick beard on his chin and lips, and he looked very tall throughout, with a pair of glasses on the bridge of his nose.
His hair is black, his eyes are light blue, and he looks like a housekeeper, which is very reassuring.
"This is the governor of the Central Bank, John Brown. Sir George! Edward introduced Adler, and then introduced Adler:
"This is the Governor of the Royal Bank of England, Adler. Todd! ”
"Hello, Sir John, it's a pleasure to meet you!" With a smile on his face, Adler held out his hand to him.
"Hello, Mr. Todd, I hope we have a happy cooperation in the future!"
Sir George (Originally, the British name Sir was the title, but there are too many people called John, so let's change it!) He replied without saying a word, and a smile appeared on his face.
John. George was recommended by the government and was a well-known banker in London, known for his steadiness.
The young king thought about it for a moment, and then agreed.
After all, the central bank is still dominated by the government, and it is itself an institution that regulates banks and issues currency, so it is more appropriate to focus on a stable person.
The king can't stretch his hand too long, and the independent operation of the central government still needs to be maintained, otherwise it will not be easy to take the blame.
After seeing the two shake hands with each other, Edward sat up, and it was time for him to get down to business.
The two banking tycoons, on the other hand, straightened their backs and stared at His Majesty, waiting for his speech.
"Since the first king issued a new pound, although it has improved the finances very well, the consequences have been somewhat serious!"
Edward looked at the two of them, and then said lightly.
Hearing this, Sir George and Adler vomited in their hearts.
"It's a bit serious, I'm afraid you're embarrassed to say it!"
After Henry VIII ascended the throne, he used troops against France and Scotland for many years, not only consuming the millions of pounds left by Henry VII, but even the dividends from the Reformation.
In this way, Henry VIII put his brains to money.
In 1544, Henry VIII halved the silver content of silver coins and also imported large quantities of precious metals from the Americas, increasing the money supply throughout England.
This is also commonly known as inflation.
The money in the hands of the people became less and less valuable, and the local squires, because of the loans, went bankrupt.
The peasants and commoners were living in even more difficulty, and the economy of England was in shambles.
Inflation is getting worse, and the aristocrats and big landowners, worried that their assets are shrinking, so they wantonly enclose land to ensure that their wealth is not easy to lose.
In fact, Edward, like ordinary people, attributed the enclosure movement to the greed of the nobility and landlords, as well as the development of commerce, which made the nobles and large landowners thirst for land for reproduction.
However, some time ago, the Minister of Agriculture and Commerce came to report that the local land enclosure movement was still going on, that there were more and more violations of government decrees, and that peasants were constantly going bankrupt and leaving their homes.
In addition, the Chancellor of the Exchequer reported to him that fiscal revenue in the first half of this year was the same as the same period last year, and the growth was negligible.
It stands to reason that with the continuous development of business in recent years, there should be more and more taxes, how can it be flat?
At this time, Edward noticed that it was the currency that had a problem.
Money was the cause of the intensification of the enclosure movement in England and the slow growth of fiscal revenues.
As long as the monetary factor remains, then the enclosure movement will never stop, and the bankrupt peasant will have a high chance of an insurrection and endanger his rule.
Therefore, these two people have been summoned here today for the purpose of re-enacting the currency, that is, to issue a new silver coin, and to eliminate the silver coins that are currently in use on the market with very little silver content.
It stands to reason that the issuance of money should be the business of the central bank, and it has nothing to do with the Royal Bank of England.
However, who said that the central bank has a short preparation time and cannot spread its tentacles throughout England, Scotland, Wales, and the island of Ireland.
That's when the Royal Bank of England, the largest bank in the British Isles, comes in handy.
Thanks to the large branch system, most of the silver coins in circulation in the market can be recycled, so that new coins can be circulated.
"The Central Bank is ready to issue a new type of currency to replace the currency currently in circulation in England!" Edward commanded in a deep voice.
"Pounds, shillings, pennies?" When Sir George heard this, he was a little surprised, and he did not understand how the young King had begun to reform the currency on a whim.
"So, according to what pattern?" Sir George then asked.
"Restore the shillings and pennies to their pre-1544 standards, and increase the gold content of the pound by two and a half percent!"
Edward said without hesitation.
In fact, in the past few decades, the advent of the Age of Discovery, has led to many countries facing the trouble of inflation, not only silver coins, but also the value of gold coins has been declining, and the timely increase in gold content is conducive to the circulation of the pound in Europe.
In this way, the inflationary pressure in England will be much lessened.
"And Todd, the Bank of England needs to help the central bank with the exchange and recycling of currency!"
"Yes, Your Majesty—"