readx; Completely ignoring the stunned gaze of the Manchu civil and military, Zhu Youzhen described the operation of the Daming Bank in succinct terms. Pen, fun, and www.biquge.info

First of all, Daming Bank is administratively subordinate to the Ministry of Households, but it is not classified into any division, and it is also independent of Tai Warehouse. Originally, the start-up capital should have been provided by the household department, but the household department could not take out the silver at all, so Zhu Youzhen had no choice but to allocate 2 million taels of silver from the internal treasury, which could be regarded as a temporary loan to the household department.

After the establishment of Daming Bank, it will be mainly responsible for three aspects of work. The first is coinage, which is the minting of silver ingots, copper coins, and the issuance of treasure money. For treasure banknotes, they are now completely equivalent to waste paper, so Zhu Youzhen decided to suspend the issuance of treasure banknotes.

As for silver ingots and copper coins, all dynasties and dynasties have stipulated that 'private' casting is not allowed, and 'private' casting is called "illegal casting", and the "Da Ming Law" clearly stipulates that stealing and casting is a capital crime. However, due to the lack of effective supervision and management, coupled with the large inflow of overseas silver through the 'smuggling' trade, in fact, the circulation of silver has been completely out of control, and not only the silver coins minted by Western countries are all circulated among the people, but the 'private' silver ingots are also quite rampant.

The so-called 'private' minting of silver ingots means that some people melt down the silver and recast it into silver ingots in order to make huge profits. During recasting, silver water is mixed with other cheap metals such as lead or tin. After being cast into a silver ingot, it is not visible on the outside, but when weighed, it is lighter than sterling silver. For example, a silver ingot of fifty taels may only use forty-eight taels of silver, but it can still be used as fifty taels of silver, and the difference between these two taels is the profit of the 'private' caster.

Since the imperial court could not effectively control the 'private' minting behavior, it had to acquiesce in the circulation of 'private' silver ingots. Even when the government recasts silver ingots, it is sometimes concocted in the same way, which is called "bureau 'private'". At the beginning, there were few impurities, but later the courage became bigger and bigger, and the impurities were more and more, resulting in extreme "mixing" and "chaos" in the market, so that when the bulk "traded", all silver ingots must be weighed.

The same is true of copper coins. Although there was no inflow of copper coins from overseas, the copper coins minted in the Song Dynasty were still circulating among the people, and the quantity was so large that the government could not control it at all. In the same way, there are many people who 'privately' mint copper coins and mix tin in copper. Due to the low value and huge quantity of copper coins, it is obviously impossible to weigh them one by one like silver ingots, so the profit of 'private' copper coins is not lower than that of 'private' silver ingots.

The proliferation of 'private' minted silver ingots and 'private' minted copper coins caused great 'chaos' and 'chaos' to the market and economic order, and also caused a crisis to the finances of the imperial court. For example, when paying taxes, some people deliberately smashed the 'private' silver ingots and pretended to be 'colored' official silver and 'handed them over'; the imperial court collected so much broken silver that was inconvenient to use and had to be recast; this refining was not made of silver, and the non-silver component was removed, which was equivalent to a reduction in taxes.

This drawback, Wang Zaijin, Bi Ziyan and other household officials have long mentioned to Zhu Youzhen, Zhu Youzhen also used the establishment of the Daming Bank as a reason to reiterate once again that it is strictly forbidden to 'privately' mint silver ingots and money, and all coinage rights belong to the Daming Bank. Anyone else, whether official or private, who discovers 'private' forging, will be executed and all family property confiscated.

In fact, Zhu Youzhen hasn't said anything yet, and he can't say it, and I'm afraid no one will understand if he says it. The right to mint money, or the right to issue money, must and can only be owned by the state, which was the simplest common sense in previous lives. Because the right to mint money is not only related to who enjoys the right of "minting interest", but also a symbol of national sovereignty. If a country loses its right to mint money, it is not far from bankruptcy and the fall of the regime.

The second task of Daming Bank is to absorb private funds and lend money. This item is very easy to understand, because the folk already have a silver trumpet with a similar function. The difference is that Zhu Youzhen has made clear regulations on both "receiving" and "releasing it."

First of all, "collection." Zhu Youzhen basically copied the savings system of modern banks, and in accordance with the principle of "voluntary deposit of bank, free withdrawal of bank, interest on deposited bank, and confidentiality for depositors," he stipulated different fixed and current interest rates. In order to ensure that the principal and interest of depositors can be paid, there are also specific measures such as "reserves" and "advance appointments for large withdrawals".

In terms of "release," Zhu Youzhen set a loan interest rate that was very low for this era: 12 percent per annum, that is, 1 percent per month. In contrast, the lending interest rate of private banks is generally more than doubled, so the low interest rate of Daming Bank is still very advantageous, which not only improves its own competitiveness, but also supports the development of private business.

Of course, there is a prerequisite for obtaining a loan with such a low interest rate, that is, no matter how much money is loaned, collateral must be provided, and the value of the collateral must exceed the loan amount. In the event that the lender is unable to repay the principal and interest, the collateral will be confiscated, auctioned, or taken into the possession of the imperial court.

The third task of Daming Bank is the "big move" that Zhu Youzhen provided for Wang Zaijin to alleviate the shortage of household money in the short term: issuing treasury bonds.

Zhu Youzhen proposed that the first phase of the Daming Bank's treasury bonds should be issued at a limit of 10 million taels of silver for a period of three years, with an accumulated interest of 50 percent over three years, and a one-time 'sexual' repayment of principal and interest at maturity. As long as it is a subject of the Ming Dynasty, anyone can subscribe; The starting point for subscription is 100 taels, and there is no limit to the number of more; The subscription is registered and transferable, but both parties to the transfer must register and change with Daming Bank.

The "major shareholder" of Daming Bank provides a guarantee for the treasury bonds. When the treasury bonds mature, they will be repaid by the Daming Bank first, and if they are insufficient, the household department will repay them with fiscal revenue. Considering the actual situation that the household department has no money, Zhu Youzhen still uses the internal silver as a double guarantee for the first phase of the treasury bonds, and if the household department does not pay it back at that time, then Zhu Youzhen will have to pay back the silver out of his pocket.

After the household department gets this treasury bond, the situation of having no money to use can be greatly improved. Of course, the use of treasury bonds is more strict, and Zhu Youzhen appointed the household department's 'waiter' Lang Bi Ziyan to be responsible for the appropriation, and Zhu Youzhen has to personally approve every expenditure, and secretly inspect and inspect in Jinyi to see if there are layers of corruption and deduction in the process of use. Although corruption can never be eradicated, it is always better than in the past under strict scrutiny.

After listening to Zhu Youzhen's explanation of the operation of Daming Bank, the ministers were stunned for a while, and then they blew up. In addition to Wang Zaijin smiling bitterly, all the cabinet ministers, officials of the six ministries, and the imperial history of the Metropolitan Procuratorate almost all objected in unison, especially the ministers of the Donglin Department, who shouted "absolutely not"!

However, this reaction of the courtiers was all expected by Zhu Youzhen. He smiled slightly and said: "If the clouds are impossible, then what is impossible, you might as well analyze them one by one." If I can convince me that it is indeed impossible, I will not insist on doing it. Who plays first? ”

The ministers saw that the emperor had set up a posture to fight in the ring, and he was obviously prepared. Originally, they already knew Zhu Youzhen better, and generally he decided to do one thing, even if he tried to persuade him again, it would be in vain; But this matter is really important, and the ministers are not willing to let the emperor "come nonsense" like this.

Everyone looked at Qian Longxi, who had the clearest mind and the best eloquence. Qian Longxi saw that he couldn't hide, so he had to play a class and said: "What Your Majesty said, there are three things that are not feasible!" ”

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