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At Adehill's own insistence, Joy's ♀ teacher game soon began in earnest. Pen "Fun" Pavilion www.biquge.info

Of course, during this time, Evan Ian did not play any shameful teaching games with the dragon girl, nor did he honestly teach Eddie Hill a month's lesson "after school" after school.

To be honest, Evan Ian is not a good teacher, he has not much teaching experience at all, except for asking Eddie Hill to read books, he usually talks wherever he wants. However, Evan Ian was a little perfunctory, but he couldn't stand that Evangel was a good student who was loved by everyone, and his skills in preview and review were very solid, and coupled with Evan Ian's very vivid lesson explanations in class, he made great progress.

After a month, she was able to understand most of the terminology in Evangel's mouth, and asked some questions of her own.

When asked by Evan Ian why she was so adaptable, Eddie Hill was a little surprised-

"When I was in the palace, the masters taught me the same?"

Evan Ian, who reacted, directly covered his face on the spot, and was annoyed-

He actually forgot that before he founded the school, there was no such concept of standardized teaching in this world!

On the morning of Tuesday, the teaching continued.

Because Eddie Hill has almost understood all kinds of obscure imperial vocabulary on the documents, plus he has the foundation of thirty years of Southridge court education before, so recently, Evan Ian has let go of the general documents for Eddie Hill to deal with.

It is not only an examination for school, but also a grinding, and the result makes him very satisfied.

In the renovated study, Adehill sat behind her desk and corrected papers. She looked up suddenly, nudging the new glasses on the bridge of her nose, and then tapped the tip of her nose lightly on the document in front of her, pausing for a moment on the decree against the smuggling of copper coins.

"Evanian the master. Eddie Hill had planned to call her de facto professor, Evangel, "Teacher", but at Evangel's insistence, she used the common term "master" used by the secretary/lord's assistant, "You told me about seigniorage before, but I'm still a little unsure...... How did this decree become the most fundamental step in the industrialization of Rose County?"

"Hmm......" Evan Ian was leaning back in the thick chair, watching the girl process the documents through her snow-white neck, and when Eddie Hill asked this, he couldn't help but straighten up, "Seigniorage...... In fact, this is only the first step in the whole way of working, Eddie Hill, do you still remember the seigniorage, which is the explanation of seigniorage spreads?"

"Seigniorage refers to the profit or income obtained by the currency issuer in the process of minting and issuing currency, which usually refers to the difference between the actual value of the precious metals contained in the currency and the face value of the currency, so it can also be called the seigniorage spread. Adesil only recalled a little, and then quickly replied, "Usually the actual value of the highly pure silver of the Imperial Silver Coin is about 10 grams of pure magic silver, while the actual weight of the Imperial Silver Coin is 9 grams, and the difference of more than 1 gram is not only the processing value, but also the privilege of the royal family to seigniorage." ”

"That's right. Evan Ian nodded, "It can be said that in the Empire, the seigniorage tax is a privilege exclusive to the emperor, and any illegal minting of coins will be punished by death once it is discovered, but in fact, because of the magic marks applied to silver and gold coins, except for a small number of mages, ordinary nobles have no ability to mint at all, and as mages, the profits obtained from casually processing some magic items are far more than the sweetness brought to them by seigniorage." ”

In fact, Evanian's explanation was somewhat omitted. If you take into account the cost of failed power-ups, the benefits of minting currency are not indifferent to all mages. And if you use the alchemy of truth, then you can directly convert other common substances such as iron and earth into heavy metals such as silver and gold, and the high profit gap is enough to make ordinary alchemists take risks.

However, the high radioactivity inherent in the Alchemy of Truth metal will be found in any slightly larger store in the Empire, and the price of alchemy silver with strong radioactivity is almost different from that of ore silver refined from raw ore, and high-purity magic silver refined by spells.

The former can often only be used for alchemy/industrial metals with strict conditions, while the latter is the metal silver that the Empire uses and comes into contact with in everyday life.

Therefore, to sum up, in the same industrially backward empire, there was no situation in the Middle Ages where private coinage was popular, and bad money drove out good money.

"However, due to the South Ridge Mountains between the South Ridge and the Empire, the tentacles of the Imperial Mint are firmly locked out of the South Ridge region. It is impossible for all of the tens of millions of silver coins in the entire Nanling to be transported to the Nanling through the airship. Therefore, the emperor gave us the right to mint silver coins from the Silver Rose family, but because he was worried that our Silver Rose family would secretly increase the amount of coinage and disrupt the circulation market of silver coins throughout the empire. Therefore, the royal family only allows our Silver Rose family to mint black silver coins with low silver content - and this is the origin of the Nanling black silver coin, I think you know it very well with Dai Hill. ”

"Because of the war, there has always been a very serious problem in the coinage of the Silver Rose family - the more you make ends meet, the more you mint it, the more you lose money. "Before Evangel, Ferdinand didn't understand economics at all, and he had a coinage bonus that made countless nobles who knew business red, but instead he made himself deeper and deeper, and when he thought of this, Evan Ian couldn't help but want to sigh, "The exchange ratio of black silver coins to imperial silver coins was 1:3 at the beginning, that is, an imperial silver coin has the silver content of three black silver coins. However, with the outbreak of your Nanling Zionism, the value of the Nanling black silver coin after the war was suppressed by some well-intentioned people, and finally reached the astonishing cheapness of the 5:1 imperial silver coin, what is this concept? ”

"Hmm......" Adehill, who had been listening quietly, couldn't help but mutter: "A 9-gram sterling silver imperial silver coin is equivalent to 10 grams of silver metal, and a black silver coin has a sterling silver content of 3 grams, but it only has a market value of 2 grams of silver, that is to say, if the Silver Rose family does not mint a black silver coin, will it lose nearly 1 gram of sterling silver?"

"That's why nine years ago, I almost got to the top of the lightning and cut off all my dad's financial advisors in one go, and I also got my dad's approval. Evan Ian spread his hands, but he said a secret of the Duke's Mansion that almost no one knew about the outside world, and almost everyone was confused by Ferdinand's series of murderous actions to help his young son ascend to the throne, but they didn't expect it to have such a connotation.

"This bunch of garbage, whether you don't realize it, or you deliberately mislead, damn it. "Evan Ian has no mercy on this, because these guys have at least millions of silver coins a year in the Duke's Palace, and if it weren't for Daddy's strength, I don't know how the Silver Rose family held out until his return.

"So after I took over the management of the coinage and the commercial governance of the territory, I realized that there was such a mystery in it, and I began to plan this money-making plan. Evanian said lightly.

"And have you only talked to the Emperor of the Empire before?" "Eddie Hill was quite impressed by the Silver Rose Family's several big moves, because any dangerous move by the Silver Rose Family would make the New Dragon Song City jump for a while.

"Actually, His Majesty the Emperor didn't know exactly what I was going to do at that time. Evanian spread his hands and smiled, "The identity of the emperor's nephew is still very useful, at that time, my father said that he would officially entrust the coinage right to me, and His Majesty the emperor looked at me as a child, and he didn't think so much about it and agreed." ”

"And then the next thing you do...... Hmm...... 'shearing the sheep' trick has pitted the nobles of the Quannanling and the speculators of the empire?" Edhill recalled the words he had read in the book of Middel, the head president of the Flowering Bank.

"It's a simple technique, isn't it?" Evan Ian's tone was slightly pleasant, and the pleasant feeling of a counter-attack still lingered on his pituitary gland. The methods of these vampire nobles and speculators are just like that, buying high and buying low, selling us high-priced silver nuggets in exchange for imperial silver coins, and then waiting for a new round of depreciation of black silver coins to begin, and then using imperial silver coins to buy cheap black silver coins, once again keeping Nanling's circulating silver coins deflationary and unable to make ends meet, so as to suppress the cost of agricultural and commercial operations in the entire Nanling. Then, after the deflation of Nanling was further deflated, they used the black silver coins in hand to speculate on the silver market in Nanling, so that the price of silver remained high, and the Silver Rose family was forced to obtain mining silver only from them, the Empire, repeating the cycle at the beginning. ”

"If this continues, the entire Nanling will be squeezed alive by these bastards. ”

Evanian's words led to Edhill's imagination, the reason why the currency replaces the barter transaction method in the market is because the convenience of currency can greatly reduce the transaction cost, and the lack of currency in the market will only make the transaction and circulation cost of the traded goods increase rapidly, resulting in the destruction of the entire Nanling agricultural market because of the loss of liquidity. The gradual degeneration into a self-sufficient small-scale peasant society in this way would have hit Nanling unimaginably hard.

She couldn't help but shudder, that kind of Nanling was almost the destruction of the glorious civilization of the entire Nanling.

Therefore, Adehill couldn't help but feel deeply glad - it was good that Evan Ian had given these bloodsuckers a hard slap.

"So when I once again released rumors in the market that I was going to set up a new financing channel through the establishment of Citibank, these bloodsuckers who had been sucking fat were simply overjoyed - you know, the inflation rate of precious metals is limited, according to their previous arrangement, the top is to earn about 10% of the gross profit, and Citibank directly gives them 8% of the net profit, plus they return to use the 108% The profit that can be obtained by absorbing the financing currency of Nanling is at least more than 20% (counting the income that can be obtained after the further depreciation of Nanling silver coins). ”

"But there's one risk that only a small number of them are aware of. Evan Ian held up a finger, "Two years, this is the minimum limit given by Citibank, and their principal and interest cannot be obtained immediately, which is the most worrying point for these people compared to their original model." ”

The details of the entire Nanling currency war are disclosed, but the time is limited, plus I am not studying finance, so about the profit figures, I just roughly estimated the following, if there is a knowledgeable look at the meaning, just smile, if you are interested in pointing to the wrong, it will be very welcome (not too reliable, but interested readers are also welcome to discuss, especially to point out the country's thank you for not sensitive).

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