I am always called "ancestors", and my mentality seems to be brought to some subtle elder mode.

But think about it another way...... It seems to be a pleasure to let the always calm and elegant Hettie show such a dull expression.

Looking at Hetty's stunned and then helpless expression, Gawain felt inexplicably better, and the pressure caused by seeing a large number of documents instantly dissipated, and then he waved his hand before the expression of the eldest granddaughter in front of him continued to collapse: "It's okay, I just said casually - what are these documents?" ”

Although Hetty didn't know what was going on, he felt as if he had escaped a catastrophe, so he secretly breathed a sigh of relief and put the document on the ancestor's desk: "It's a preliminary report on the construction of the Imperial Academy and the construction of a new school in the Holy Spirit Plain, and there are also relevant documents for the Western Region Railway Project - the government department has handled the process according to the process, but the key parts still need to be seen by you personally." ”

Gawain thought about it, and suddenly thought a little about asking Hetty's life's events......

After two seconds, he gathered his somewhat scattered thoughts, reached for the thick papers, and casually asked, "Have the mages and scholars who moved from Saint Sunil last week settled?" What do you think of them? ”

"It's all settled," Hetty said, nodding, "as for my assessment...... In terms of personal knowledge and ability, those who can be loyal to the royal family or enter the Royal Capital Scholars Association are the best masters, and their ability is undoubted, but each of them still has a long way to go before they can integrate into Cecil's new order, and many will face elimination. ”

“…… The inevitable process," Gawain said as he flipped through the paper in his hand, "but we still have to transform and strive for it as much as we can—as long as it can be transformed, we must transform it as much as possible, and we still lack intellectuals." However, it should be noted that the criteria for admitting personnel in all education departments must not be relaxed, the standards for the two examinations and examinations must not be changed, and those old-school intellectuals who have passed the initial transformation but have failed the two examinations and examinations can be allowed to do research and work as technicians in factories, but they must not enter schools. ”

Hetty lowered her head: "Yes." ”

The empire had been established, and Cecil's land had grown from a cramped barren land to a vast kingdom, with unprecedented resources and manpower circulating on the desks of Heti and the various departments of the government department, but after the initial excitement and excitement, Heti realized that there was still a shortage of resources beneath the seemingly abundant surface - the ancestors wanted to build a new kingdom, not to take over a decaying kingdom and become a comfortable monarch, those legacies from the old country of Ansu, It needs to be transformed and picked to be reuseful.

A large number of intellectuals from the northern region will solve the key talent shortage in the development of magic technology, but before that, these intellectuals must accept ideological changes in addition to the establishment of a new knowledge system, and the so-called two examinations and two examinations are Gao Wen's rigid standards for the education department to absorb talents: major stain and bad deeds review, personal information review, academic ability assessment, and ideological transformation assessment, and only after passing all these tests will they be allowed to enter the various new colleges established by the empire.

The strict assessment and access system is also one of the factors that lead to the serious shortage of teachers in the current new schools, but the ancestors did not allow the standards in this regard to be relaxed at all, but fortunately, the students who graduated from the first phase of Cecil General College and some of the first down-and-out intellectuals who followed the construction of the southern border have grown up in recent years, and the talents who are feeding back are gradually alleviating the gap in schools around the country, although the gap is still very large, but at least it is no longer desperate.

Hetty understands why the ancestors valued this aspect so much.

Because when the early system was still flawed and the implementation was not in place, she had seen with her own eyes how a teacher from a side aristocratic background taught children to perform prostrate and kiss the ground in the school - it was just a small nobleman from a side line, with no inheritance rights, no titles and fiefs, and the only connection with the "aristocratic society" was his thin blood, but for this thin connection, for the "correct and only law" in his heart and the "glory" of the family, he could risk prison, Go and get the children to remember the rules of kneeling again.

From that day she knew that some rotten things would never be completely wiped out by a gravel bombardment and a signing ceremony, and they would not purify themselves, and the unclean residues would lurk in all kinds of corners, and at the slightest chance they would rush out like mud in the cracks.

Perhaps, even with a strict system of access, some of the mud will still seep in—that's almost certain, given that the nascent government council system is still severely inadequate in its control over the remote parts of the empire, and can only rely on the other two archcons and their vassal system for temporary control—but nothing is perfect, as our ancestors once said, it will be a long-term undertaking, and perhaps it will take more than one or two generations......

Hetty fell into thought for a moment, and Gawain had already hurriedly swept the end of the document, and then put it on his right: "I have a rough look, no problem - I will take a closer look at it tomorrow morning, and I will reply to you when the time comes." Is Padraic in the government hall now? ”

Hetty woke up from his thoughts and nodded: "Yes, he just returned from Carol yesterday and has returned to the government hall this morning. ”

"Let him come and see me – I want to hear about the currency pilot."

"Yes, Ancestor."

……

In front of Gawain lay several temporary coins (substitutes) of various denominations, as well as several coins struck by the Royal Mint of Cecil.

Coins come in basic standard copper, silver, and gold coins, while paper money is "silver money" in denominations of one and five fenums, and "gold notes" in denominations of one gold pound and five gold pounds—fenham is a lingua franca word meaning "thin silver leaf", and the so-called gold pound is also different from the currency of the same name that once appeared on the earth, in this case, it is equivalent to the smallest thin gold coin that Ansu once flowed through, and it is almost equivalent to the upper limit of currency that was accessible to civilians in the past.

The banknotes are beautifully printed and have a textured pattern that glows wonderfully in the sun.

Just by the denomination of these banknotes and the meaning of their names, it is clear that this is only a superficial attempt to reform the precious metal currency into paper money.

"After about half a year of trial implementation, the pilot area has successfully replaced more than seventy percent of the precious metals in circulation with temporary currency, maintaining the normal conduct of commerce and the normal settlement of local finances," Padraic said meticulously, wiping his forehead, which had gradually become more open in the past two years, "People have gradually become accustomed to its existence from the beginning of their incomprehension and distrust of paper money, and later they have found that it can indeed be used to buy goods." From the point of view of simply implementing paper money and forming habits, the pilot was successful.

"But the defects of the pilot are also obvious, as you can see, we still fundamentally still have not gotten rid of the essence of gold and silver settlement, the currency circulating in the pilot area is essentially still circulating gold and silver, and it is precisely because of this that the simultaneous existence of 'gold banknotes' and 'silver banknotes' is equivalent to the denomination exchange between banknotes will still be affected by the price of precious metals, and there will be a phenomenon of bad money driving out good money. Recently, however, we have succeeded in cutting silver money from silver so that it can only be exchanged for gold and not directly for silver, which is equivalent to turning it into a kind of 'subordinate unit' of gold money, which is considered to have solved the problem caused by the double standard......"

Gawain frowned and looked at the several currencies on the table, flipped through the detailed report brought by Padraic in his hand, and couldn't help but mutter: "Messy ......"

Padraic suddenly wiped a cold sweat: "...... Your Majesty, I'm so sorry......"

"No, I'm not reprimanding you," Gawain quickly waved his hand, "You've done a great job, you've done all the testing and sampling as I asked, and this mess is nothing more than what is bound to happen when something new is introduced...... It's the law of nature, not your fault. ”

Padraic breathed a sigh of relief: "Yes, Your Majesty. ”

"There is no obvious skew in the Empire's gold and silver reserves, and it is feasible to issue money on either the silver or gold standards, but the biggest question is whether to continue to issue money on the basis of precious metals," Gawain said slowly, "Padrak, you must have realized the hidden dangers of pegging gold or silver directly to paper money. ”

“…… Yes, Your Majesty, and after hearing your theory of the currency trap, I confirm that the hidden danger is real and extremely dangerous," Padraic nodded at once, "and from a practical point of view, I think the 'credit currency' you have mentioned is the better choice. ”

“…… "......Padrak, you should know that the basis required to issue credit money is much higher than the issuance of substitute money—because in essence, we are defining paper without any use value as 'money', and the biggest premise for people to use these 'papers' to buy goods and settle accounts is that they believe that the empire can accept the value represented by all 'paper money', and this 'trust' must be as reliable as real money." ”

Padraic met Gawain's gaze, his slightly fat body sat steadily, he nodded, and his answer was short and forceful: "Yes, I understand. ”

He had thought about it a lot long before he came here.

If Cecil wants to enter a higher social stage, he must complete the monetary reform as soon as possible, and even if he does not think about the long-term future, the chaotic monetary system left over from the old Ansu era has reached its limit.

The private coinage of various nobles in the era of separation, coupled with the frequent reminting of currency caused by the political turmoil of the kingdom itself, made the old monetary system chaotic, only in the plain of the Holy Spirit and some parts of the western border, the official circulation of currency includes silver shields, long silver coins, short silver coins, gold shields, royal twill gold coins, round copper coins, small round copper coins and other dozens of metal currencies, and the quality is uneven, and the exchange relationship is chaotic.

The intricacies of currency and exchange rates not only made it difficult for merchants to buy and sell on a larger scale, but also gave rise to specialized professions of "exchangers", who became a kind of "extra tax collectors" in disguise, taking their small money from commoners and small merchants.

The chaotic currency also hinders commercial transactions throughout the country, because of the inconvenience of exchange, the settlement risk is huge, the trade between regions can often only be monopolized by specific groups, and even in the most chaotic currency and the severely saturated areas of bad currency, commercial activities have reached the point where it is almost impossible to carry out......

Even with the trains, with the new economic policy, as long as this quagmire of "monetary garbage" remains, Cecil's reconstruction and development will inevitably be difficult.

Therefore, the most important thing for Gawain to recover the power of the nobles was to ban the coinage rights of all nobles, and unify them into the Imperial Mint (formerly Cecil Mint), and the private coins circulating in various places were listed as illegal, and the government affairs department came forward to gradually recover, remint, and exchange them within a certain cycle.

Since the old coins are all precious metal currencies, as long as the fineness is up to standard, their value will not be reduced by recycling and recasting (not counting the loss), so this step of the monetary unification policy has been relatively smoothly implemented.

Under the premise of monetary unification, the promotion of paper money is also a must.

In the magical industrial age, the growth rate and abundance of goods far exceeded the imagination of anyone in the old era, the unit value was limited, the transportation was inconvenient, and the complex settlement of precious metal currency would soon be unable to catch up with the times, and the Typhon empire next door had begun to implement a new currency, and Cecil must immediately enter the next stage of currency reform.

This is a radical change, and Padraic believes that since this kind of radical action is already about to take place, it is necessary to put it in place.

There is no perfection in the world, and credit currency also has its fixed shortcomings, but at least in the long run, it can avoid the biggest hidden danger of substitute currency, and the prerequisites for the issuance of credit currency he also thought about - the need for a highly centralized, only authoritative core regime, the need for the people's trust in the state system, the need for the strong executive ability of the Supreme Government Department, and the need for effective means and early warning measures to control the infinite over-issuance of currency, but no matter how great these difficulties are, Cecil must issue credit money.

He had his own considerations, and he believed that His Majesty the Emperor in front of him would support him after hearing those considerations.

Gawain maintained a frowning brow.

Of course, he knows the advantages and disadvantages of credit money, and he also knows the fatality of substitute money, but he also knows that if you take too big a step, you will be torn to the egg.

The fear that the direct issuance of credit money would cause all kinds of confusion was the biggest reason why he was slow to make up his mind.

He looked at Padraic in front of him.

This Kantian scholar, who has a high talent in the field of economics, is not a person who likes to talk nonsense.

"Tell me your reasoning, Padraic."

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