According to Liu Jun's intentions, Sihai Qianzhuang started work overnight and printed 20 million bonds. After the bonds were stamped by the Ministry of Accounts, they were sent to the Four Seas Bank.

The Four Seas Bank took out 27 million yuan of the silver dollar bills that had been printed in the past few days, handed them over to the Ministry of Households, and deposited them in the state treasury.

Of the 27 million silver dollar coupons, 12 million of them were Liu Jun's package tax to the imperial court, and 8 million of the 20 million taxes had been paid, and 1 million would have been paid every month for the next month. But now Liu Jun asked the bank to pay off the remaining 12 million directly at once. The remaining 15 million yuan is the loan of the imperial court, and the 20 million yuan loan is deducted from 5 million, which is the total interest of 60 million loans this year.

Twenty-seven million new silver dollars, still scented with ink, were deposited into the treasury.

"Together with the original eight million, there are now 35 million silver dollar bills in the imperial treasury." Li Banghua, the secretary of the household department, reported quite excitedly at the meeting of the prime minister's office that if the estimated 15 million yuan in taxes to be collected is added, the imperial court's treasury revenue this year will reach 50 million yuan, and it is the first time that the household department has such money in the treasury.

"Fifteen million military salaries, 10 million for changing clothes and training, and another 5 million for defense and suppression of bandits in the Central Plains. The military budget totals 30 million, and this amount will be evaluated and reviewed as a matter of priority. Liu Jun spoke.

The 30 million expenses were agreed with Wu Fu and Liu Zongzhou earlier. Liu Jun and Wu Fu supported Liu Zongzhou's plan to continue disarmament, while they supported Liu Jun's borrowing plan, and at the same time, they also supported Liu Jun's priority in military spending.

Wu Fu and Liu Zongzhou did not repeat it at this time, and the three ministers agreed to this plan, and the Ministry of War and the Privy Council were of course happy to see it.

With these 30 million military spending, then this year, the life of the Ministry of War and the Privy Council will be very good. As long as there are no more major wars this year. Then the 30 million military budget is not much, which is enough.

But in this way, only 5 million pieces of 35 million remained.

Of the five million yuan, the various temples began to fight fiercely, and each won a part.

Fortunately, there are still fifteen million estimated tax revenues, so that the ministries will not be so frantically scrambling.

The ministries for another massive downsizing of the army. There was no objection. Although the Qing army in the northeast was very honest recently, although there was a border conflict after the two sides negotiated peace, the Qing army was very restrained, took the initiative to tolerate contact, and resolved this conflict. In the short term, it seems that as long as the Ming army does not take the initiative to attack, the Qing army will not violate the Ming realm again for the time being.

And the bandits in the Central Plains, although they once made a lot of trouble, recently sent back news from the Central Plains. Zuo Liangyu, the commander of Henan, had accepted the order of the imperial court and moved to Liaoxi. Zhang Shan, the governor of Chuanhu and Cai Yuan, the governor of the Central Plains, who are now in charge of suppressing bandits in Henan, are progressing smoothly, and have already marched to Luoyang and captured Xiangcheng, and the situation is gratifying.

"How will the dismantled army be settled?"

"I propose, in the provincial capital. Establish an engineering battalion to undertake infrastructure projects in various places. For example, building roads. Dredging canals, transporting goods, building water ditches, and renovating cities. These need to be manned, and they can be arranged to do this, so that they can also avoid the burden of conscription and labor. It also allows these veterans to have a job to earn money. ”

According to Liu Zongzhou's plan, at least a few hundred thousand people will be dismantled this time, and in addition to the previous rounds of disarmament, at least 6 or 700,000 soldiers will be dismantled one after another. Larger, these people must be properly accommodated.

Otherwise, just like the current rebellion in the Central Plains, many military attachés and military households who were not properly placed in the guard post would join the bandits to rebel and cause rebellion with resentment.

Liu Jun appreciates the box army system in the Song Dynasty, and there are many things worth learning from. The Xiang army of the Song Dynasty undertook labor, so that the people of the Song Dynasty no longer had to bear heavy labor, and also provided a lot of convenient conditions for the prosperity of industry and commerce in the Song Dynasty.

It would be a good choice to set up engineering battalions in various places and entrust them with many labor and infrastructure tasks such as transportation, postal transmission, engineering, and service.

"The imperial court's previous re-inspection of the tuntian of the local guard offices has also been carried out almost completely, and many cases of selfish fraud and collusion between officials and gentry have been discovered, and a large number of encroachments on tuntian have been re-cleared, and we can arrange for some of the dismissed soldiers to go to tuntian."

All the guards in the world have been abolished, and a large number of tuntians that the guards originally occupied have also been redistributed to the people. A large number of tuntian fields will be able to collect a large number of tuntian tuntian rents. When Liu Jun was cleaning up and rectifying in Hubei, the health office in Yunyang alone cleaned up a large number of tuntian.

Later, when the imperial court was cleaned up, there were various frauds in various places, and many problems occurred. But then the imperial court stopped cleaning up the tuntian and sent people to start an investigation.

After Liu Jun entered the center, he took over this matter, and he sent Jinyiwei to join the investigation, which accelerated the investigation a lot and achieved many results. In the process of rectification and clean-up, a large number of tuntian fields were found to have been encroached upon by officials and businessmen in collusion.

Now this batch of tuntian can all be divided down and handed over to those dismantled guards and soldiers, although the number of tuntian is still limited, but at least it can accommodate a lot of people.

With the addition of the resettlement of the engineering battalion, many people can already be properly resettled.

Liu Jun also asked those industries under his name to start recruiting these laid-off workers, plus the part of the relocation to Taiwan, if the local government can absorb and resettle the part, then these people can be roughly solved.

A large number of soldiers and military households were dismissed, which also happened to allow those workshops to recruit a lot of workers.

On the whole, since the fourteenth year of Chongzhen, Daming has still shown a scene of starting to prosper. The prosperity of maritime trade and the stability outside the customs have made a scene of recovery everywhere.

In this case, Liu Jun found that the money supply of the Ming Dynasty was still seriously insufficient.

Although it was a few years earlier, the situation was greatly relieved.

In the early years, the silver inflow from the Americas to the Ming Dynasty was closed, and then Japan, which imported a lot of silver into the Ming Dynasty, also began to close its borders, which greatly reduced the amount of silver imported into the Ming Dynasty.

After the Wanli reform, the Ming Dynasty finally determined the silver standard system. Although it was supposed to be a silver-copper double standard system, the copper coin system of the Ming Dynasty had long been ruined due to the shortage of copper coins and serious private minting.

In the end, the Ming Dynasty became the silver standard.

The silver standard seems to have fostered a boom in commerce, especially after the Ming Dynasty opened its maritime ban and as Europeans continued to bring large quantities of silver from the Americas to East Asia. Taking advantage of the difference between European gold and silver, and Ming silver, gold and cheapness, he wantonly used silver to arbitrage gold for huge profits.

The Europeans, especially the Spaniards at that time, carried ships of silver in exchange for various porcelain, silk and other goods produced by the Ming Dynasty.

On the surface, the maritime trade at that time was prosperous. The merchants made a lot of money, and the court also earned a lot of taxes, and it seems that the people also made a lot of money because of it.

But in fact, the Ming Dynasty used all kinds of goods produced with hard work in exchange for a pile of silver that could not be eaten or drunk.

From an economic point of view, in fact, Daming suffered a big loss. The Ming Dynasty was based on silver, but the Ming Dynasty's own silver production was seriously insufficient, and it mainly relied on silver imports from the Americas and Japan. As a result, the Ming Dynasty actually completely lost the right to regulate the money supply.

Anyone who knows a bit about economics knows that money is quite important. It is quite dangerous for a country to not even have the right to issue currency.

With the right to issue money, you have two most important privileges, one is seigniorage. For example, Liu Jun's Sihai Bank, by melting silver ingots for minting, in the process, he not only charged for processing, but also issued and circulated 80% of silver coins as 10% of the value of silver coins. In the process, he was collecting a very high seigniorage.

Da Ming before that. There has been no coinage, so this lucrative seigniorage has been lost.

And then the currency is issued, and there is a more important privilege, which is the right to regulate.

In the national economy, the money supply is very important, and only an appropriate money supply can promote the healthy development of the social economy.

There is too much money supply. Like the Jiaozi of the Song Dynasty and the treasure banknotes of the Yuan and Ming dynasties, the result was inflation, distorted prices, and harmed social and economic development. Cause chaos.

In the same way, if the money supply is too small, it will lead to deflation and depression. For example, in the Tang Dynasty, there has always been a shortage of money, and the imperial court even had to use money and silk at the same time, using silk as currency, and even grain and cloth as transaction currency. This makes transactions extremely inconvenient and greatly harms the development of the economy.

At the time of the Chongzhen Dynasty, this was the case. The import of silver from the United States and Japan suddenly stopped, and the annual inflow of about 2.4 million taels of silver from overseas, plus about 300,000 taels of self-produced silver every Chinese New Year's Eve, was barely maintained. The loss of more than 2 million imports at once immediately led to a shortage of currency in the Ming Dynasty, which was based on the silver standard.

At this time, the shortage of silver led to those merchants beginning to hoard silver, waiting for appreciation, which made the market more and more in short supply, and eventually the economy was greatly affected, and the Ming Dynasty broke out economic danger.

And now the economic recovery of the Ming Dynasty is not entirely because of the improvement of the military situation, there is a more important reason, that is, the resumption of maritime trade, the reopening of trade routes between the Ming Dynasty and European countries and Japan, and the continued import of silver.

In addition, the establishment and development of the Four Seas Bank, the minting and issuance of silver coins of the Four Seas Bank increased the amount of money. The interest on the bank's deposits attracted the deposit of the silver that had been stored in the bank, and after minting and lending, it was put into market circulation and increased the circulation.

Especially when the credit of the silver dollar was established, the silver dollar coupons issued by Liu Jun expanded the money supply of the Ming Dynasty a lot, which greatly alleviated the currency shortage of the Ming Dynasty.

However, in order to maintain the healthy development of the economy, the amount of currency needed by the Ming Dynasty is very huge.

According to the survey of the Four Seas Bank, the silver imported from overseas in the Ming Dynasty has reached about 300 million taels in recent years, and the production of the Ming Dynasty over the years, coupled with the storage of previous dynasties, has reached about 700 million taels of silver in the entire Ming Dynasty, which still excludes a lot of silver being made into jewelry.

A stock of 700 million taels of silver, sounds like a lot. But in fact, the people of Daming are more than 100 million, and the average amount of holdings per person is only about five taels.

Just such a small amount of holdings is a serious shortage for the entire Ming Dynasty, which seriously hinders the development of industry and commerce, and also hinders the country's tax revenue.

Liu Jun believes that the fivefold increase in the amount of currency in the Ming Dynasty is not yet satisfied.

But the output of silver is limited, especially since Daming himself only has less than 300,000 taels of silver a year. Every year, it depends on the exchange of more than 2 million taels of silver from overseas trade transactions. In order to exchange for this silver, countless commodities were used, which led to the southeast and other fish and rice towns, but became a grain import area, which also had a great impact on the entire Ming Dynasty.

Because the production of silver is insufficient. It is difficult to import, and this instability has led to the disorder of the Ming monetary system, and even caused the disorder of the real economy.

Because of the silver standard, the Ming Dynasty, a country that mainly relies on imports of silver and has always been short of silver, is completely unable to regulate and control the money supply.

But paper money does not have to be painstakingly exchanged for silver with various commodities, and even the quantity is not limited.

Liu Jun, who controls Sihai Bank, can easily print a large number of banknotes and increase the supply of money. However, additional banknotes will be issued. Liu Jun must have reserves.

Otherwise, it will be indiscriminate and cause chaos.

Fortunately, Liu Jun has a lot of gold and silver in his hands.

Now Liu Jun is using the Ming Dynasty's treasury bonds and the people's deposits as reserves, and the additional banknotes are used to purchase treasury bonds and issue loans.

More money was issued, interest rates on loans were lowered, and more money was available to merchants and ordinary people. The overall economic situation will improve.

It's going to be complicated, but that's pretty much it. Now Liu Jun holds the right to mint coinage and the right to issue currency. Four Seas Bank is both a central bank and a large commercial bank.

Today, this economic change under the leadership of Liu Jun is still not the paper money standard for the time being. Paper money cannot be printed indefinitely, it still has silver content, and each note can be exchanged for silver coins at the bank according to the amount indicated in the denomination.

Even silver coins are still in circulation.

This is equivalent to the gold standard and the gold standard, but with the silver dollar as the standard currency. One side makes silver coins for circulation. On the one hand, it is circulated in banknotes that stipulate the amount of silver in the silver dollar bills.

"In the next step, there will be no more silver coins." In Sihai Bank, Liu Jun sighed after reading the account book.

"No more silver coins? Why, the profit of coinage is very high, one percent of the profit. Lu Weizhang was a little confused. Are you too little in profits?

"Not really. In the future, we still used silver as the standard, but silver was no longer minted and circulated, but was built into large silver bricks and stored in banks as reserves. In the future, we will only print and issue silver dollar coupons, and silver dollar coupons will no longer be exchanged for silver without restrictions. ”

"Can't exchange it for silver dollar coupons? That's not to print as much as you want, isn't this a treasure banknote, who will be willing to use it in the future? Lu Weizhang was shocked.

Liu Jun suddenly lost his voice and laughed.

"Of course it won't be like that, and when that happens, the banks will be separated. There are central banks that are specifically responsible for printing and distributing silver dollar bills, reserve banks that are specially responsible for the reserve of silver bullion, and commercial banks that specialize in deposits, loans, and foreign exchange. ”

"For example, for every five silver dollar bills printed by the central bank, it must pay half a tael of silver ingots to the Reserve Bank as a reserve for issuance. For every five silver dollar bills a commercial bank absorbs, it has to hand over one silver dollar bill to the central bank as a deposit reserve. Whether it is the issuance of silver dollar bills or the issuance of loans, there will be a reserve ratio, and it is not something that can be arbitrarily arbitrarily displaced. Liu Jun said.

Lu Weizhang shook his head, still unable to accept this kind of banknote that could not be exchanged for real money.

Liu Jun just smiled and didn't explain anymore.

Banks, in fact, are playing the debt economy. But in this day and age, there are really few people who understand this concept. Even the Bank of England was established decades later, and the current Four Seas Bank is the first to play this in this era.

In fact, silver dollar bills were the earliest receipts, and the earliest merchants who operated the copper coin custody business not only did not have to pay interest to depositors, but also charged a storage fee. Because in the past, copper coins were currency in circulation, precious metals such as gold and silver were not currency, but copper coins were very heavy.

It was very inconvenient for merchants to carry a large amount of copper coins, and later some merchants who specialized in storage business opened branches in different places, and then merchants could withdraw money from other places with a deposit receipt, plus some secret words and tokens, which was flying money.

Later, there was a money bank specializing in foreign exchange, and later people even simply used bank bills and silver bills to trade, and then exchanged more money for the corresponding money. After a long time, everyone no longer withdrew money from the bank every time, and the banker's bill, which was originally a deposit certificate, gradually became currency and began to carry out limited circulation.

Some clever bankers have found that there are not many people who come to withdraw money every day, and a lot of money is kept in the treasury all the time. So, they began to quietly issue some additional banker notes to lend money to collect interest, and when the borrower paid off the principal and interest in full, they destroyed the silver note.

In fact, the money bank is misappropriating the customer's money to make profits.

And when the scale of the bank, the wider the circulation of the banker notes issued by them, the higher the degree of acceptance, the more they can embezzle, the greater the profit.

Later, in addition to the aggregate business, the bank also began to operate storage and lending, at this time it was already openly using depositors' money to lend and collect profits, in order to attract more savings, they began to no longer charge custody fees, but paid interest to depositors. Use the high interest rate on the loan to pay the low interest on the depositor and earn the difference.

Today's Sihai Bank, whose scale is unmatched by any bank, is a huge network that has branches throughout the Ming Dynasty and has even begun to open branches in neighboring Korea, Japan, and South Asia.

The silver dollar of the Four Seas Bank and the silver dollar coupons issued by the Bank of the Continent have extremely strong credit.

The savings interest rate of the Four Seas Bank is also the highest, and countless businessmen and ordinary people have deposited their money in the Four Seas Bank, and the Four Seas Bank has the most abundant savings funds, and they are able to embezzle more deposits. With these deposits as reserves, they were able to borrow money from countless merchants who needed money, and these loans, which were mainly commercial loans, had higher interest rates and higher rates of return.

And with the huge scale of Four Seas Bank, coupled with its credit, they play this debt game very well, and they don't have to worry about getting rid of it.

And when Sihai Bank also had the right to mint money and issue currency, the world had already fallen into Liu Jun's control. (To be continued.) )

PS: Thank you for the support of the human cannon, thank you!