In terms of people's livelihood, the greatest credit of a society is economic credit. Therefore, from the day it was produced, the banknote was stamped with credit, as well as anti-counterfeiting measures, and had a credit guarantee. The collapse of the private relationship is due to the loss of credit guarantees. The reason why "official relations" can replace it is also because its credit reliability is higher than that of private printing.

The increase in the issuance of paper money, especially at the end of the Xuanhe period, the imperial court disregarded the laws of the economy and forcibly protected and promoted paper money through administrative power, which led to inflation. But currency depreciation is not all bad, moderate depreciation can stimulate consumption, but successive feudal dynasties have almost used it as a way to transfer contradictions, and thus lose more than just economic credit.

And Zhou Xingji's worries are not unreasonable, now the old banknotes are overissued, in fact, the imperial court does not have so much money, if all accepted, the imperial court will definitely not be able to take out so much money to pay, it will lose credit, affect the circulation of paper money, and even the listing will depreciate rapidly, which will lead to further turmoil in the financial market, falling into an endless vicious circle, so Zhao Ta must not think too much about this, and treat it carefully.

"Your Majesty, can we abandon the Jiaozi issued by the previous dynasty and replace it with new banknotes?" Zhou Xingji saw that the official family was silent, thinking that he was very embarrassed, and came up with another idea.

"Don't do it!" Zhao Ta heard this and hurriedly said that when Japan surrendered, the people of Northeast China held a large number of counterfeit Japanese banknotes, and the Kuomintang government refused to admit it, and the people were sad and complaining. Later, the Kuomintang government printed more money than the Song Dynasty, which is of course incomparable, but its depreciation was much greater than that of the Song Dynasty, which was not unrelated to the lack of credit caused by the Kuomintang government's actions in those years. Now that he knows the truth, he can't repeat the mistakes of the past.

"Your Majesty. Then we only have to mint iron coins, or ten dollars for urgent use! Zhou Xingji saw that the official family was not satisfied with his answer, and came up with an idea.

This method is also to drink water to quench thirst. It can only be rescued, not a long-term solution! Zhao Ta shook his head and said.

"Your Majesty, in addition to exchanging metal money for paper money, using paper money to offset taxes, and selling goods, the previous dynasty also sold official fields and officials to redeem old banknotes to calm down the matter!" Zhou Xingji saw that the official family shook his head frequently, and hurriedly brought out all the old precedents of the past.

"Mr. Gong, is it feasible for us to use the method of exchanging silver for copper coins or goods for silver coupons in Fuzhong Cabinet?" Zhao Ta saw that Zhou Xingji was in a hurry, and he looked like he was sick and went to the doctor, and even the disgraceful way of selling the official beard was shaken out, and he said.

"Your Majesty is not impossible. Now there are more than 5 million taels of silver and more than 240,000 taels of gold in the treasury of the central government, all of which were taken back from the hands of the gold thieves by His Majesty, most of which should be owned by the inner government, even if they are exchanged, they are not enough to issue! Zhou Xingji thought for a while and said, he had participated in the early planning and issuance of the cabinet in Fuzhong, and it has been running very normally so far, and this time to send troops to the Central Plains, the military resources and food required are huge. All of them are very effective in cabinet raising, but there are still gaps in them.

"There is no need to discuss whether the inner treasury or the treasury is the treasury!" Zhao Ta waved his hand and listened quietly.

"Your Majesty. Using silver as the principal can indeed solve the problem of exchange, but the production of silver in our dynasty is low, and the consumption is very large. Not enough to support the issuance of Jiaozi for a long time! Zhou Xingji's eyes lit up, the official's thinking was good. Small-scale implementation is acceptable, but it is still difficult to roll it out across the country. I couldn't help but sigh again.

"If the shortage of gold and silver can be solved, can the issuance of Jiaozi be restarted?" Zhao Tayan said, he also knows that Zhou Xingji is right, since China launched foreign trade, until the beginning of the Ming Dynasty, are mainly luxury goods, China buys a large number of overseas treasures, spices, medicinal materials, resulting in a long-term trade deficit, gold, silver, copper money outflow, become a serious problem, all dynasties strictly prohibit the export of metal, but the effect is not great, and the domestic silver resources are restricted by the poor, silver prices have been high, in the market a tael of silver according to the official is exchanged for consistent money, but often premium transactions.

"Your Majesty, if the outflow of silver is reduced, this matter is already half-done!" Zhou Xing said himself, but he also knew that it was not easy to do this, and there was no way to meet the exchange by relying on the production of tens of thousands of taels per year, and the result was also a collapse.

"Well, there are two main ways of outflow of silver, one is to reward the envoys, and the other is to trade. If you want to solve this problem, you must deal with this matter, and in the future, the reward of foreign vassals will be mainly based on things, and no longer give silver, and then it is necessary to open up the port and increase foreign trade, so that I will sell silk and porcelain to other countries and trade in silver! Zhao Ta nodded and said his thoughts.

"Your Majesty, some people in the first dynasty have mentioned this intention, and some unscrupulous merchants along the coast often go to sea privately to barter for silver, and then return to China to purchase goods, and make profits several times more than in the exchange!" Zhou Xingji said that the officials were right, and the officials of the imperial court were clearly aware of this, and the market trade between private merchants should have actually occurred much earlier because it operated more according to the laws of the market.

In the tribute trade, the Song court gave silver back to Zhufan through regular gifts, special gifts, and reply gifts, and there were a lot of them. Among them, it is often a ceremonial gift. The Song court stipulated that all the states, towns, and countries of Fan would be given to those who entered the Fengya School. The money and things given by it, more than two systems, have the main money and silver, although there are hundreds, there are also two or three hundred to tens of thousands, each has a constant, and the regular gifts to Zhufan usually contain silverware.

The countries that exported foreign goods to the Song Dynasty, such as Goryeo and Cochin, and the latter such as Dashi, Srivijaya, Sujidan, Dengliumei, and Champong either produced silver but did not use silver as currency, or had already used silver as currency in the spice trade. Therefore, for the merchants engaged in international trade between the Song Dynasty and overseas countries, it was necessary to sell spices and other goods to the Song Dynasty, and to sell silk, porcelain and copper coins to overseas countries to achieve mutual benefits.

However, if all the spices of the traders were exchanged for silver and then sold out of the Song Realm, they would face the danger of losing the profits of the return trade. Therefore, selling silver from the Song realm, where purchasing power was strong, to the South China Sea, where silver had already been used, was a last resort for many merchants. On the contrary, it was more profitable to carry a certain amount of silver to buy more silk and porcelain with the Song Dynasty, and even exchange the silver for copper coins to take out of the Song Dynasty and transport them to countries such as Sujidan that urgently needed Song copper coins.

"I am going to open ports in Mingzhou, Quanzhou, Dengzhou, and Haizhou, allowing private merchants to participate in transactions to expand trade, instead of monopolizing the imperial court, and at the same time setting up cities in the four places to extract taxes, and have made up for the country!" Zhao Tan blushed and said that after the Song Dynasty established the City Ship Division, it had clearly prohibited foreign trade other than tribute trade and market trade, and private merchants did not have the right to directly engage in foreign trade freely. In this regard, the Song Dynasty once explicitly stipulated that "merchants who go abroad to trade in the country of Tibet will order and ask the two Zhejiang City Bosses to give official coupons, and the violators will have no one to sell their treasures." Later, the ban was repeatedly reinstated.

However, due to the long coastline of the Song Dynasty, it was impossible for the Song Dynasty to completely control the coastal merchants to go to sea, and foreign ships could not avoid stopping at the ports of the Song Dynasty that did not have market ships due to the climate, evasion of market ship extraction, and Bomai. Sheng Zhongtang made a lot of money for himself by smuggling trade, and I don't know how the profit was.

"Your Majesty is wise, blocking is better than sparse, this move can not only increase the transaction volume, but also collect a large amount of commercial taxes, in order to reduce the 'two taxes', it is indeed a matter of benefiting the country and the people!" Zhou Xingji became excited when he heard this, and the old man said with his eyebrows fluttering.

"Mr. Gong, all these things have to be undertaken by the household department, and I have to work hard for you!" Zhao Ta said with a smile, he can only put forward the framework, the details of which should be perfected by these hands, once successful, the benefits will not only solve the immediate problem, and then there will be great benefits, the development of overseas trade will certainly promote the comprehensive development of the handicraft industry, will attract a large number of surplus labor to engage in it, solve the problem of less land and more people, slow down the speed of land annexation, and weaken the contradiction between the court and the people.

And a large amount of trade will also bring abundant tax revenue, make the country rich, and at the same time can also feed more armies, support the subsequent military operations, maybe accidentally unify the world, Zhao Ta can't help but wait for his own good life, to realize his bigger dreams...

Next, Zhao Tajun made further discussions, issuing new banknotes, setting up a city department, formulating rules and other things must be done first.

But Zhou Xingji suddenly found that these things seemed to be prepared by the officials, and now the four major caravans in the house have set up cabinets all over the country, not only have rich experience in the manpower, but also have a ready-made network and financial support and a good reputation, and now it seems that all they need to do is hand over the printed Jiaozi to them to assist in the issuance and acceptance.

As for whether to divide the profits or not, it doesn't seem to matter much. In the past, the official family was still the prince, these four halls were his private property, and now he has ascended the throne as the emperor, and the whole country is his, isn't the money earned by the official family? Sitang only needs to change a brand to become a state agency and become a department under the Ministry of Households, everything will fall into place, and now the rest seems to be waiting for the hall to pass, the edict is executed, and he only needs to rectify the organization and formulate detailed rules.

Zhou Xingji thought of this, looking at the sly smile of the official family, as if as he thought, he thought of the official family's expansion of the water army that had been dispensable in the past, is it also preparing for the expansion of foreign trade today? With a powerful naval division, not only can you calm the coastal waters, but also escort the fleet, capture smuggling merchants, and even directly send troops to blast open the gates of the countries that are closed to the Great Song Dynasty!

"Having a gentleman like this is the blessing of my people of the Great Song Dynasty!" The more Zhou Xingji thought about it, the more frightened he became, but all the officials seemed to have started planning when he was a teenager, and he had never thought of these things when he was a prodigy, and what other amazing things would he do? He couldn't tell for a moment whether the official family in front of him was a god or a demon... (To be continued......)