[Today's first shift, the second shift is very late]

After Lai Youguang, the prefect of Wuhan, released the more than 10 million taels of silver confiscated from the King of Chu to the household department, Qian Qianyi did not need to ask for silver from Deng Haonan for the time being.

It's just that Deng Haonan has less and less silver in his hand, and he always feels that it is not a taste, so he thinks about how to make money every day. Of course, Deng Haonan would not snatch the people's fat and ointment from the people, and he hit the idea on the civil and military officials.

However, looting the silver of the official requires a high technical content, and Deng Haonan has to work hard to do so.

These officials of the Ming Dynasty are all experts in looting the people's fat and ointment, so there are countless gold and silver treasures in each family, and ninety percent of the wealth accumulated in the two hundred years of the dynasty is in their hands, so it will cause the Ming Dynasty to become poorer and poorer.

Deng Haonan's current purpose is to take out ninety percent of the national wealth in the hands of officials and use it as funds to continue to maintain the national policy of recuperation and recuperation.

"What is the prince going to do?"

In the study, Deng Haonan called Feng Shaoyan, Wang Chengen and Zhang Pu to discuss the plan.

"Wechen thinks it should be ready to set up a central bank!"

Feng Shaoyan had to get closer, Deng Haonan asked him to come with Wang Chengen, and eighty percent had something to do with it.

"Half right!" Deng Haonan smiled and nodded: "The central bank is going to do it!" But before that, the king wants to collect all the gold and silver from all over the country! ”

Zhang Pu didn't know much about the central bank, so he didn't know anything about it until he asked Feng Shaoyan. However, when he heard that Deng Haonan wanted to confiscate the gold and silver of the whole country, he hurriedly spoke out to stop it.

"The prince can't help it!"

Deng Haonan was stunned, only to hear Zhang Pu continue: "The confiscation of gold and silver across the country will inevitably lead to the anger of the whole people, and the country will not be a country!" ”

Deng Haonan smiled bitterly, guessing that Zhang Pu thought that he was confiscating the gold and silver of the whole country in order to expropriate and extort money!

"Zi'an, don't think too much! This king is not what you think! ”

"Then what does the prince mean by this?"

Zhang Pu did sweat a handful, but thinking that Deng Haonan was willing to pay out of his own pocket to recuperate for the country, he should not be rampant again.

On the side, Feng Shaoyan replied: "Mr. Zhang didn't understand what the prince meant!" In fact, as early as in Liaodong, the prince was ready to carry out financial reform! The Bank of Liaodong and the Swiss Bank are pilots, accumulating experience for the smooth preparation of the central bank in the future! ”

Zhang Pu asked: "Is the central bank the meaning of the imperial court to fund the establishment of a money bank?" ”

"Exactly!"

Wang Chengen and Feng Shaoyan then gave Zhang Pu a general explanation about the central bank, which he didn't understand when Deng Haonan spoke later.

There is no all-rounder, Deng Haonan also thought that Zhang Pu also knew finance, and now it seems that it is in response to that sentence, everything is inferior only to read high, this Zhang Pu has never liked to have copper odor on his hands, so he only knows a little about finance.

However, this did not affect Deng Haonan's financial reform, Feng Shaoyan has been experienced in the affairs of Liaodong Bank and Qianzhuang, and now he has completely gotten started, and there is no shortage of financial experts in the Imperial University, so the preparation work is not difficult.

The problem is that Deng Haonan is a little undecided on the issue of the gold standard and the silver standard.

Wang Chengen is in charge of Deng Haonan's private treasury, and he has just learned a little about finance, and he has to rely on Feng Shaoyan to really make up his mind.

Feng Shaoyan preferred to use the silver standard because the world's major powers such as Spain, Portugal, the Netherlands, Britain, and France were currently on the silver standard, so the use of the silver standard would facilitate international trade. At the same time, silver has gradually become a monetary metal since the Han Dynasty, and silver has actually been monetized in the Ming Dynasty, and the Ming Dynasty has truly become a country that uses silver. But now the Ming Dynasty implements the silver two systems, which are valued by the weight of metals, which belongs to the weighing currency system, and has not stepped into the stage of the real silver standard monetary system.

And Deng Haonan also knew that it was not until the second year of Xuantong (1910 AD) that the "Currency Regulations" were promulgated, and the silver standard was officially adopted, with "yuan" as the monetary unit, the weight was seven coins and two cents, and the fineness was 90% of the silver coins, and the silver standard was really implemented at that time.

At the same time, although the Ming Dynasty has now stepped into the silver standard country, there is a problem that is very strict, the Ming Empire is a country lacking silver, although the land is vast, but the lack of silver, the amount of mining can not keep up with the accumulation of national wealth, always restricting economic development. Therefore, the Ming Dynasty is still assisted by silver, using copper coins and gold as the main means of payment.

However, copper coins from the Ming Dynasty were also scarce, and the raw materials for minting coins had to be imported from the Philippines and Japan, so a foreign currency system could easily be manipulated by other countries. Historically, after the First Sino-Japanese War, the large-scale dumping of silver into China by the great powers was the main means of economic aggression.

"It's okay to use the silver standard!"

Deng Haonan thought for a while and said: "But we need to occupy Mexico and control the main silver producing countries to meet the silver needs of the Ming Dynasty!" ”

Feng Shaoyan asked, "Then the prince means that he is inclined to the gold standard?" ”

Deng Haonan was not sure, and said: "It is safer to use the gold standard than to use the silver standard, and gold is relatively stable, at least for the next four hundred years." ”

The silver standard is a monetary system in which silver is used as the standard currency. There are two types: the silver standard and the silver coin standard. The silver two-standard is based on the price standard of silver weight "tael", and the silver bar is circulated. The silver coin standard is a silver coin that the state stipulates that silver is a monetary metal and requires it to be minted into a certain shape, weight and fineness; Silver coins can be freely minted and freely melted; Bank notes can be freely exchanged for huàn silver coins or silver; Silver coins and silver can be freely exported or imported to ensure the stability of the foreign exchange market.

In the history of money, silver served as the standard currency earlier than gold. But when it comes to acting as a monetary commodity, gold is far superior to silver. With the economic development of Western countries, the silver standard first transitioned to the gold and silver double standard, and was replaced by the gold standard after the 20s of the 19th century.

Stable dìng in 400 years?

Feng Shaoyan and the others couldn't believe it, but they had to believe it.

Except for Zhang Pu, the other two knew that Deng Haonan had some special functions, and they had long been surprised. Of course, Feng Shaoyan knew that Deng Haonan might be exaggerating when he said that 400 years of stability may be an exaggeration, but gold is indeed very stable, which is a fact he knows.

"It's just that the reserves of gold are not as fast as the reserves of silver, and the Ming Dynasty has a large population, and if gold is used as the standard currency, the circulation is very large, and it is difficult for the treasury to do it in a short time. At the same time, the outflow of gold is still a problem. In foreign trade, if other countries get our gold coins, take back their country's melt, and turn them into jewelry or become their country's currency, it will affect the currency circulation of our country! ”

Deng Haonan nodded and said with emotion: "That's right! It's a tough question. At the beginning, the Spanish Empire promulgated a law prohibiting the export of silver to the Ming Dynasty, because the silver flowed into the Ming Dynasty and then stopped flowing out, which greatly affected the silver standard system of the Spanish Empire! ”

Feng Shaoyan said: "Now that the Spaniards have relaxed the restrictions on silver exports, the main reason is that we have greatly improved the situation of controlling the inflow and outflow of silver. It's just that a large amount of silver has flowed into the country, and our team has a certain pricing power over silver, but on gold, we don't have the world's gold pricing power, so once the gold standard is adopted, foreigners who have a lot of gold are easy to manipulate our currency! ”

"It's better to use the gold and silver standard at the same time!"

Zhang Pu saw that neither of them was sure which method to use, so he simply used both of them at the same time.

"That's a great idea!" Wang Chengen thinks it is feasible.

Feng Shaoyan looked at Deng Haonan, but Deng Haonan shook his head.

The coexistence of gold and silver looks good, but it is actually a double standard, that is, a country stipulates that gold and silver are the standard currencies at the same time. Under the double standard, both gold and silver were free to be bought and sold, freely minted and melted, and freely exported and imported, as under the gold standard or silver standard.

On the surface, the double standard system can make the standard money metal have a more sufficient source and the quantity of money can better meet the needs of the expanding production and exchange of commodities, but in fact it is a monetary system with inherent instability.

The phenomenon of "bad money driving out good money", that is, when the market value of gold and silver is higher than the officially determined price of the two metals is constantly collected, the "precious" metals of gold and silver will eventually be withdrawn from circulation, making the double standard system impossible to realize. This phenomenon is known as "Gresham's Law". The fundamental reason for "bad money driving out good money" lies in the contradiction between the gold and silver standard and the exclusivity and exclusivity of money as a general equivalent.

"It's confusing!" Deng Haonan immediately denied it.

This doesn't work, that doesn't work, you have to come up with a practical plan!

Deng Haonan saw that several of them were in a dilemma, so he smiled bitterly and secretly said that he was pursuing perfection too much. Since the conditions for the gold standard are not available now, it is better to use the silver standard. Anyway, the silver standard will have to rule the world for hundreds of years, so let's go!

"If only you could use paper money!"

Feng Shaoyan asked, "Is the prince preparing to issue something like the Daming treasure banknote?" ”

Zhang Pu also said: "The treasure banknote has depreciated and is worthless, and the local government doesn't recognize it at all!" ”

Deng Haonan smiled and said, "Just think about it!" Then take the silver standard! As for the auxiliary currency, do you think it will continue to be minted with copper coins? ”

Feng Shaoyan replied: "The auxiliary currency is very expensive, and the imperial court has a lot of money to mint copper coins, which is not cost-effective. And now our steel mills can make shiny, corrosion-resistant stainless steel, it is better to use stainless steel to cast auxiliary currency! ”

Deng Haonan suddenly realized, how could he forget this stubble! Stainless steel is the best way to mint auxiliary coins.

Zhang Pu nodded in agreement and said, "I've also seen that kind of stainless steel, which is really good for minting coins." The previous copper coins corroded after a period of time, and the re-smelting fire of the imperial court was very cost-effective. ”

Wang Chengen said suddenly: "It's just that it's not very easy to forge that stainless steel into coins, and it also increases the burden on the imperial court!" ”

Deng Haonan said with a smile: "Don't worry, aren't the steam engines and water presses all made?" With just a little bit of improvement, it's still easy to turn into a small mint! ”

"The prince is wise!"

Feng Shaoyan suddenly said happily: "I have seen this hydraulic press, it is far beyond the power of humans and animals, with it, the matter of minting steel coins is done!" ”

Deng Haonan suddenly remembered the problem of fire consumption, so he said: "Since it has been decided to adopt the silver standard, the problem of silver fire consumption needs to be solved." Local officials often take advantage of the difference in fire consumption to exploit the common people, and they make huge profits from it, which must be controlled! ”

How to control the fire consumption is really difficult, and several people fell into deep thought.

After a while, Feng Shaoyan suddenly said: "It is better to abolish the silver bar standard and use the silver coin standard of the Western country." The silver will be minted into silver coins in a unified manner, and the local government will be prohibited from minting and imitating it without permission, and the central government will make up for the difference in fire consumption, so that the magistrates will not be able to use the fire consumption to squeeze the common people! ”

"It's not enough!"

Deng Haonan thought for a while, so he said: "Use the silver dollar standard!" ”

What is the silver dollar standard?

Several people didn't know why, and they all looked at Deng Haonan, who explained: "The silver coin has a fixed ratio, one tael of silver for two silver coins. But the value of silver is still very high, and it is not bad for ordinary people to earn four silver coins a month. In this way, there is a big difference between the amount of silver coins and auxiliary coins against huàn. Therefore, the king divided the silver coins and auxiliary coins into three, six, nine, and so on. ”

Deng Haonan means that coins are minted into currencies of different values, such as silver coins to silver dollars, with a maximum face value of 500 and a minimum of 1 silver dollar. The auxiliary currency is divided into corners and cents. One silver dollar is exchanged for ten jiao, and one dime is exchanged for ten jiao.

That way, you don't have to do it like you used to. One tael of silver for a thousand copper coins is so cumbersome, and now one tael of silver only needs to be exchanged for two silver dollars, or twenty jiao, two hundred cents, which greatly reduces the cumbersomeness of the transaction.

"That's a wonderful way!" Feng Shaoyan said: "Mark the value of the coin, so that private individuals or magistrates will not dare to melt the coins lightly, and the problem of fire consumption will be solved immediately." At the same time, this currency is more conducive to transactions and greatly stands on the people! ”

"Then it's settled!"

Deng Haonan was very happy, and then Zhang Pu said: "I'm afraid that the prince has other considerations for reforming the currency system!" ”

Deng Haonan smiled slightly and said, "Of course! Now the national treasury is only more than 10 million taels of silver, and the inner treasury is only 30 million taels, and it will take two years to recuperate, and this silver is afraid that it is not enough! So the king needs silver, a lot of silver! ”

Feng Shaoyan explained to Zhang Pu at this time: "The prince will carry out financial reforms, and all gold, silver and copper coins will be banned from circulation, and then order all the people to take all the money they have saved in their families to the bank to exchange for new coins!" ”

Zhang Pu asked worriedly: "It's just, how easy is it to exchange the new coins?" Only 30 million taels of evils can't satisfy King Fu alone, how to meet the tens of millions of people in the Ming Dynasty? The money of the whole dynasty is enough to pile up into mountains of gold and silver! ”

Deng Haonan understood what Zhang Pu meant, and said with a smile: "Zi'an, don't worry! The issuance of new currency did not take place all at once across the country! Rather, there will be a transition period, tentatively set at one year for this king! During this year, starting from Zhili, where the bank was opened, the currency exchange was implemented. In this way, the silver we have previously exchanged into huàn can be minted again into currency and then continue to be exchanged for huàn. ”

Feng Shaoyan said: "This has an advantage, that is, you can know how much wealth the Ming Dynasty has!" Every time you exchange huàn and record it, you will know how powerful the Ming is! At the same time, how much wealth the civil and military officials, gentry and businessmen from all over the country have, you can spy on eighty percent! ”

"Good strategy!"

Zhang Pu nodded frequently, very optimistic about this plan.

In March of the first year of Tongzhi, Deng Haonan was anxious for the six cabinet ministers to discuss the financial and monetary reform plan.

On March 12, the Central Bank of the Ming Empire was established, and Wang Chengen was the governor of the central bank and the head of the Ministry of Internal Affairs. Feng Shaoyan was appointed vice president, and at the same time, he was removed from the post of director of the direct subordinate branch of the Military Intelligence Bureau, and he was appointed as the right attendant of the household department.

The next day, the Cabinet issued the "Regulations on the Minting of Silver Standard Coins", stipulating that the silver standard coins should be named "yuan" and weigh 26.6971 grams, 88 percent silver and 12 percent copper, that is, 23.493448 grams of pure silver. The weight and fineness of the silver standard currency shall not exceed 0.3 per dollar compared with the legal weight and fineness, and it is stipulated that the silver standard currency shall be granted and received in public and private transactions, and there is no limit to the number of silver standard coins used each time. According to the plan, the "abolition of the two yuan" will be implemented in Gyeonggi first, and it is expected that a unified national silver coin -- the "Deng Haonan Portrait" silver dollar, or dragon coin, will be issued within one year.

Deng Haonan's head is like a silver dollar, also known as a dragon coin. On the obverse is the large head of Deng Haonan, marked with the face value of the Chinese character silver dollar, and on the back is the Great Wall and the dragon totem logo, marked with the Arabic numeral face value and minting time.

The central bank was established, and Deng Haonan minted more than 10 million taels of silver from the household department into silver coins of various denominations in Beijing. At the same time, the newly built Imperial Mint began to mint coins in full swing, exchanging stainless steel coins on a large scale to the common people.

Since the silver dollar itself had value, the imperial court's order to reform the silver standard and exchange coins for huàn within a time limit was not opposed by various interest groups. As for the common people, they rarely have formal silver, and they can't afford to exchange them for silver dollars, so they can only take a lot of copper coins and scattered silver to the bank to exchange them into coins.

This coin is much more beautiful than a silver dollar, full of luster, and is very popular with the common people. For a time, people who went to the bank to exchange huàn coins liked to exchange huàn coins. This makes it possible for banks to reserve enough silver dollars, but not enough for coins.

As a last resort, the Imperial Mint had to open more than a dozen production lines to mint coins on a large scale to meet people's needs.

The large-scale issuance of coins exceeded Deng Haonan's imagination, and although it increased the burden on the central bank and the mint, it in turn helped Deng Haonan.

Because the 60 million silver dollars minted from 30 million taels could not even be satisfied with the gold and silver in Beijing, let alone the entire Gyeonggi.

Fortunately, people like shinier and better coins, so that the central bank was able to ease up and withstand the first wave of pressure on the exchange. In addition, the mint began to mint silver dollars on a large scale, and the problem was solved by quickly turning the silver taels that had just been exchanged into silver dollars.

Later, Deng Haonan realized that all the princes and nobles in Beijing were nobles, which family did not have hundreds of thousands, millions of taels of silver? If nothing else, selling a house is more than 100,000 taels of silver! Deng Haonan's 30 million taels of silver as the benchmark gold for currency reform is really risky.

Of course, Deng Haonan can't be blamed for this. Daming's super sloppy financial management ability made the financial income only a few million taels of silver. Under normal circumstances, monetary reform can be carried out when the reserves reach three times the amount of the treasury, but Deng Haonan has 30 million taels of silver in his hand, which is enough. I never thought that the Ming court was poor, but the people had money.

Is this a treasure for the people? Deng Haonan had to smile bitterly! V