Chapter 265 State Bonds

No policy, even the best one, can be achieved overnight.

People have habits, whether it is thinking or acting, there is a lag process, which is different from the improvement of machines, only a little adjustment can be immediately effective.

Nearly a month after the opening of the state-owned commercial bank in the Great Song Dynasty, with the increase of state-owned commercial banks and Yinzhuang outlets, coupled with the hype of the royal newspaper, the people of Lin'an gradually accepted the Huaxia currency, and more than two months have passed since the issuance of the Huaxia currency.

Although paper money itself has no value, because it is a mandatory currency issued by the state, and it is easy to carry, so in later generations, paper money has become a common form of currency used by all countries in the world.

The advent of the Great Song Dynasty Huaxia currency opened the prelude to the paper money officially replacing the original gold, silver, copper coins and various self-issued Jiaozi, Huiyin, Qian Yin, etc., laying a solid foundation for the economic development of the Great Song Dynasty.

"Ruan Aiqing, the number of people exchanging Huaxia coins in Yinzhuang has been increasing recently."

"Back to Your Majesty, it is exactly like this, according to a survey data from Yinzhuang, all the people of Lin'an will exchange their Huiyin and money for Huaxia coins, and the proportion of people who exchange silver and copper coins has also increased from the original non-existent to about 10%."

I said happily: "Well, as long as you guide it well, the people will gradually accept paper money, after all, this is the trend of social development." ”

Nguyen Teng Binh didn't understand why banknotes were the trend of development, but he didn't dare to ask more.

"Yes, Your Majesty, the shops in Lin'an City are now beginning to accept Hehuaxia coins."

I suddenly remembered the price difference between the exchange of currencies, and hurriedly asked: "Ruan Aiqing, how much loss will I have in exchanging Huaxia coins for other banknotes in the hands of the people." ”

"Your Majesty, the minister is about to report to Your Majesty on this matter, Your Majesty, the original paper money of our dynasty has depreciated sharply, and if it is converted according to the current prices, it is estimated that it will only be Lin'an, and it will lose at least 500,000 copper coins."

"500,000 guan." Although I knew that there would be a great loss in the exchange, but I didn't expect that Lin'an alone would lose 500,000 yuan, when Zheng Huchen donated 100,000 yuan at the opening ceremony of the Red Cross, it had already amazed the people present, not to mention 500,000 yuan.

"What if it's the whole country."

Ruan Deng Bing said: "According to the calculation of the entire Hui Yin in the hands of the people of our dynasty, if the exchange is completed, the preliminary estimate will be a loss of 3 million guan. ”

My heart sank, and I thought for a while: "Ma Aiqing, what is the expected tax revenue in Lin'an this year, and how much will the national tax revenue be." ”

"Your Majesty, according to last year's tax revenue, combined with the current situation, the Ministry of Household predicts that this year's tax revenue in Lin'an can reach 1.5 million yuan, and the whole country can reach more than 5 million yuan."

"That means that more than half of this year's tax revenue will be used to compensate for the loss of exchange."

Ma Guangzu said: "That's roughly the case. ”

I frowned, my original happy mood disappeared at once, and I quickly calculated in my heart, "Next year is the most critical year for both Song and Mongolia, everyone will spend a huge amount of money on armaments, if we lose three million yuan first, it will inevitably affect the investment next year, and it may be too late the year after next." ”

"In this way, my economy will be seriously affected next year."

Ma Guangzu said: "Your Majesty, there is such a possibility. ”

I was a little anxious and said, "Is there any other way?" ”

Ma Guangzu said: "Your Majesty, is it possible to reduce the loss by increasing the exchange ratio value?" ”

"Nope." I didn't want to, so I immediately denied, "Even if there are difficulties, the imperial court cannot lose its trust in the people, let alone increase the burden of the people in exchange for the income of the treasury." ”

Although Jia Yidao's public land law has relieved the pressure on the treasury to a certain extent, it has also increased the burden on the people, and it is difficult to comment on the good and bad of it.

Whether to hide the wealth in the country or to hide the wealth in the people, there have always been different views.

Of course, everyone knows that a rich country and a strong people are the best choice, but what if you can only choose one of the two,

Ruan Dengbing said: "Your Majesty is not in a hurry, the impact will not be as big as Your Majesty imagined, the exchange of Chinese currency for the national surname will not be concentrated this year, according to Yinzhuang's expectations, by the end of this year, the two Zhejiang roads around Lin'an will be basically exchanged, and the exchange of other roads will take at least a year, so there is a buffer period in the middle, and with the gradual improvement of Yinzhuang's outlets, the people will also deposit a large amount of currency, many of which are deposited by the number of years, This part of the funds can also be temporarily flowed through loans and other means, so the minister believes that although losses are inevitable, as long as the economy of our dynasty develops rapidly, these losses will not affect the foundation of our dynasty. ”

Ma Guangzu said: "Lord Ruan, after a year, if the people want to withdraw this money." ”

Nguyen Deng Binh said: "Master Ma, after a year, there will be new people who will deposit the currency in the bank, and so on, as long as the links are continuous, there will be no problem at all. ”

"What if the intermediate link breaks?" Ma Guangzu didn't continue to ask, but he just thought to himself,

After listening to Ruan Dengbing's analysis, I calmed down a little, Ruan Dengbing's analysis is good, the people's exchange of Huaxia currency cannot be completed overnight, and the buffer period only needs to be used well, and it should be able to make a smooth transition, provided that the economy of our country develops rapidly, so as to offset the losses brought by the exchange.

"Jiang Aiqing, Liao Aiqing, and Ruan Aiqing of the Ministry of Commerce mentioned that as long as the economy of our DPRK develops rapidly, we can overcome the impact of the loss caused by the exchange, what do you two think?"

Jiang Wanli said: "Your Majesty, the minister thinks that what Lord Ruan said is very true, Your Majesty, in the past, due to the indiscriminate issuance of paper money, which caused prices to soar and paper money to depreciate, if not improved, sooner or later it will cause social turmoil, the so-called long pain is not as good as short pain, the issuance of Huaxia currency must be persistent, and it must be issued in accordance with the established policy, the stability of the currency will produce great benefits to the future economy of our dynasty, from the perspective of the country's commerce and trade industry this year, rapid progress, coupled with the support policies introduced by the Ministry of Commerce one after another, The minister believes that the speed of development next year will definitely be stronger than this year, and this will be able to overcome the influence of His Majesty's words. ”

"Yes." I nodded and said, "Ladies and gentlemen, the loss of currency exchange is inevitable, what is your best plan so that I can have enough funds to smoothly invest in various affairs next year." ”

The ministers of the court did not understand the way of the economy, and no one answered for a while.

"Your Majesty, the minister has a good song." Jia Rudao suddenly said in the chair,

"Master, please speak."

"Your Majesty once mentioned, open source and reduce expenditure, this throttling, the performance of the DPRK and the Central Committee this year is good, all departments are careful to calculate, compared with last year's savings, if you want to make the rapid development of the economy, the focus behind is naturally open source, the development of the economy, will encounter the problem of funds, therefore, the minister proposed that Yinzhuang can take the lead in the issuance of the Great Song Dynasty national bonds."

"Is it a national debt?" What a familiar name, I asked, "Master, tell me more about what a state bond is." ”

"Your Majesty, just now Lord Ruan said, the people will deposit their excess currency into the silver village, when the people will save, when to take, this is an unpredictable event, the silver village and the court do not know how many people will save money today, if there are people who are just due to deposit today, need to withdraw 10,000 yuan, and there are only 9,000 in the silver village, then it will be dishonest to the depositor, so the old minister came up with the issue of national bonds, the so-called national bonds refer to a kind of bills issued by the state as a guarantee, silver villages, fixed term, In one or two years, if the people have surplus currency in their hands, they can choose to deposit it in the silver bank, or they can choose to buy bond bills, so that the imperial court can calculate the amount to be paid when due according to the number of bond bills sold, and at the same time, it can also borrow a large amount of excess money in the hands of the people. ”

Treasury bonds are issued by the state, which is a kind of political axe bond issued by the political axe of later generations to raise financial funds, and is a creditor's right and debt certificate issued by the political axe to investors and promises to pay interest and repay the principal at maturity in a certain period of time.

In the history of our country, it was only at the end of the Qing Dynasty that domestic public bonds began to be issued.

"This Jia seems to be like a way, what kind of head does it look like, this can also be thought of." I secretly boasted to myself,

At this time, I only heard Ruan Dengbing say: "The Taishi has a high opinion, and the lower officials admire, and the Taishi's suggestion has indeed solved a major problem in Yinzhuang's loan." ”

I also praised: "The proposal of the master is feasible, I will play it, I will slightly change the name of the master and minister, and the Great Song State Bond will be changed to the Great Song State Bond to show that it is different from other money bills, Ruan Aiqing." ”

"The minister is here."

"You immediately discuss this matter with the people of Yinzhuang, make a detailed plan as soon as possible, and officially issue it early next year."

"Yes, Your Majesty, the ministers obey."

"Master, this proposal of yours is very good, Wei Guogong and Xianwen Pavilion scholars, it seems that it is not in vain." I laughed and said,

"Your Majesty appreciates it, this is the way to be a minister." Jia Rudao said, and secretly looked at Liao Yingzhong,

"No matter who you are, you should be praised for having a good proposal, and Shichen, as the head of a hundred officials, should be praised for taking the lead in offering advice."

"Thank you, Your Majesty."

"Hideo Chenlu has a book."

"Aiqing, please speak."

"Your Majesty, the recruitment work has come to an end, and there is a problem found in the forbidden army, if the soldiers of the forbidden army sign up to join the Imperial Forest Army or the Lin'an War Zone and are not admitted, can they re-register at the recruitment point in the city as a common person?"

For the 70,000 forbidden army, I originally planned to leave only half of them, and the remaining half of them were disarmed and returned to the field, but I didn't expect that there were still many people in this half who wanted to continue to serve as soldiers.

"Lu Aiqing, how is the situation at the recruiting point in the city?"

"Your Majesty, judging from the current situation, the number of recruits has basically been reached."

"Well, Lu Aiqing, after the recruitment is over, you will report the number of people who are still willing to continue to serve in the forbidden army who have been selected, I will reconsider, after all, these people have experience in military training."

"Yes, Your Majesty."

"Lu Aiqing, has the recruitment of generals come to fruition?"