In the third year of the Tao, in October. Towards the end of the year, Zhenzong buried the first emperor, stabilized the government, and luckily escaped the attack of the Khitans, who would have brought disaster. Prepare for the arrival of the New Year in peace, and then change the era name to his own. He had already figured out what era name to use: Xianping. The acquisition of this era name means that the world is peaceful.

In these days when it should have been carried out step by step, Zhao Heng suddenly discovered that some strange phenomena began to occur.

First of all, he was surprised to find that when the household department reported to him the tax revenue for the first half of the year, all the income was converted into a unit of gold coins, yuan.

Although Zhao Heng later also roughly understood the conversion ratio of gold coins and copper coins, about 1,000 mosquito copper coins, that is, consistent money can be exchanged for one gold coin, that is, one yuan.

But Zhao Heng didn't expect that even the household department began to use gold coins as a unit of measurement. Although it is true that using yuan as the unit of measurement is almost as convenient as using the measure through. However, this does not mean that Yuan will replace Guan as the official unit of measurement.

There is another peculiar phenomenon, that is, when Zhao Heng went out of the palace for a private visit, he found that many people in the capital did not use copper coins or gold coins when they bought things or paid the bills after dining in restaurants, but used a kind of slap-square paper.

This made Zhao Heng, as the emperor, fall into confusion again, as the emperor of the Great Song Dynasty, he seemed to have too many things that he didn't know, which made him a little frightened.

Fortunately, although Zhao Heng is a little cowardly by nature, he is not stupid, he knows that there must be a reason for the occurrence of phenomena, and this reason can often be answered by asking, so he sent a large number of people into the people to ask the reason.

It didn't take long for him to know that there were two reasons for this phenomenon.

First, in recent months, a trading house called Xinhua Qianzhuang has suddenly appeared in the capital, and this trading house is different from ordinary trading houses, it does not buy and sell any commodities here, but has a lot of business related to money.

First of all, this business house used a lot of gold coins to exchange copper coins, or more appropriately, that is, people could exchange copper coins for gold coins in this business house, but this exchange was cheaper than the usual money for one yuan of gold coins.

It took 1,500 yuan for anyone to get a gold coin, but that didn't stop the enthusiasm of the people to exchange it. In just a few months, more than 100,000 yuan of gold coins have been exchanged, which is equivalent to more than 100,000 copper coins entering the pocket of this bank.

This made Zhenzong very puzzled why this kind of exchange was higher than the market price, but there were still so many people willing to exchange it.

Soon Zhenzong also knew the answer, that is, the source of the gold coins also came out of this bank, and all the firms that had previously purchased the physical goods of the officials at a fair price cooperated with this bank, and they first exchanged copper coins for gold coins in the bank, and then used gold coins to buy these physical goods.

This made these officials the first people to eat crabs, and these crab eaters also became the "image spokespersons" of gold coins in a sense.

Since ancient times, those who are good at the top will be very bad at the bottom. Although this sentence is more often to describe the influence of the monarch's preferences on the courtiers, such as the king of Chu has a thin waist, and the palace is starved to death.

But in a sense, it can also be applied to the relationship between officials and the people, after all, officials in this era are the most direct role models for the people, so when officials begin to use gold coins, it will inevitably bring a trend of private use of gold coins.

What's more, in ancient times, bad money often drove out good money, not to mention that gold coins that are better than good money are now put in front of the people.

In this way, even though the gold coin cost more copper than the original announcement of one yuan, it still attracted the attention of the whole capital.

At this time, although Zhenzong understood how the gold coins came from, he still didn't understand what it had to do with those papers.

Soon, however, the people he sent out to do the survey also gave the answer to the paper, and the answer was that the paper also came from the bank.

These pieces of paper are another part of the bank's business, which is to save money. Anyone can deposit money in that bank, and the bank will give you a paper of the corresponding denomination for how much money you deposit.

At the same time as the investigators explained, they also presented a dozen of those pieces of paper to Zhenzong's dragon case, of which there were more than a dozen pieces ranging from face value one to face value of 50,000.

They are one, two, five, ten, twenty, fifty, one hundred, five hundred, one thousand, five thousand, five thousand, ten thousand, and fifty thousand. The number above represents the amount of money, one corresponds to one penny, and 50,000 corresponds to 50,000 money.

Then in the middle of these papers, there are several special ones, although there are still one, two, five, ten, twenty and fifty written on it, but the unit is exchanged for yuan, which can be directly exchanged for gold coins, that is, obtained by depositing gold coins.

Originally, this kind of banknote was only popular among the merchant houses between the chambers of commerce, because the merchant houses in the chamber of commerce often had direct business with each other, but because of the huge amount of money each time, the transaction was very troublesome.

Since there is this kind of money saving business, the two parties to the transaction often the buyer directly deposit a sum of money in the bank, and then give the seller the corresponding amount of this kind of bill after depositing the money, and then the seller needs money when he goes directly to the bank to withdraw it.

This move greatly facilitated both sides of the transaction, because the amount required to trade with copper coins was too large to be carried.

Even if you use gold coins, there will still be a certain risk, after all, if you trade long distances, it is still not safe to carry a large number of gold coins, but paper bills are different, paper bills can be used in a large denomination, a few on the line, and it is much more convenient to hide. Therefore, it has been greatly welcomed by the merchants.

Later, this trend also slowly spread to the people, because most of the private trading houses are now members of the Chamber of Commerce, so these shops or restaurants have started a business, that is, you can also use this kind of paper bills to pay bills.

This kind of paper ticket is called a copper ticket by the people of the bank, and then gradually many people began to save money in the bank, and then replaced it with a copper ticket to carry it directly, or even use it directly.

Especially in the places where several major traders in the country gather now, Bianjing, Huating, Yangzhou, Chang'an, Luoyang, Hangzhou, and Chengdu all have this kind of money village, and copper tickets can also be accessed in other places.

This makes the convenience of this kind of copper ticket greatly improved, so the transactions in the market in the capital today are mainly copper tickets and gold coins.

Many of the small ones use bronze tickets, and if the large ones are not at ease, more gold coins are used. Coupled with the people's pursuit and storage of gold coins, the circulation of copper coins has been greatly reduced in just a few months.

After listening to the investigator's introduction, Zhao Heng's back suddenly became cold.

Although he lacks economic common sense, but after being in contact with government affairs for so many years, Zhao Heng is not the kind of faint gentleman who is completely ignorant of the people's suffering, and he probably knows what the consequences will be once these things are thoroughly circulated.

So he had to pay attention to the impact of these bronze tickets and gold coins, but he hadn't thought about what to do, so he decided to bring up the matter at the next day's court meeting to see if there was any good way for the ministers of the court and China.

However, when Zhao Heng raised this matter the next day, hoping that the ministers would come up with a way to deal with it, the court and China were divided into two distinct factions.

One faction of opinion was that the imperial court must find a way to keep the bronze and gold coins within its control, preferably officially.

However, the opinion of the other faction is that the imperial court has no way to manage this kind of thing, and it may be better to let it develop freely.

Both sides have their own reasons, and the side that wants to be official naturally sees that once copper coins are not popular at all, or in big cities, it will make the imperial court fall into passivity in many cases.

Here they are not far-sighted enough to see the series of effects of the so-called currency issuance power, but they know that once there is that kind of copper money panic, the imperial court will have to be controlled by this money bank in many cases.

Nowadays, the popularity of a large number of copper tickets and gold coins means that there is a large amount of copper coins in this bank, and if this large amount of cash is controlled by a trading house that is not controlled by the government, it will be a threat to the entire imperial court.

After all, the imperial treasury is not entirely copper money, but more often it is also a tax in kind, and once the court needs money, it must sell these physical goods to the people.

And in today's situation, there will only be two results from the sale of physical goods, either gold coins are received, or copper tickets are received, neither of which is what the imperial court wants.

Although the value of gold coins is maintained, but after all, the denomination is huge, if it is to be implemented, it still has to be exchanged for copper coins, and copper coins are held by a large number of money banks.

Another possibility is the copper ticket, although the copper ticket denomination is small, but after all, it is not a copper coin, although it can be spent in these big cities, but no one recognizes it in a small place, and the result still has to be exchanged for copper coins.

But in case of exchange, the money bank said that our money bank does not have so much cash, and it takes a certain amount of time to prepare, and at this time, the court is in urgent need of money, it is not in vain to be delayed, and there is no other way, so it is not equivalent to the court being controlled by the money bank in disguise.

This is the opinion of those who want to control the bank.

But what they didn't expect was that the opposition was also very reasonable, and neither side could convince the other.