"Alas!"

The sequelae of the hangover made Fang Chongyong have a splitting headache. After waking up the next day, he sat alone in front of the desk in the bedroom and calmed down for a long time before he recovered.

The wine made here in Liangzhou has a lot of stamina, and it is not very pure. Datang's winemaking is to learn the technology of the Western Regions, and it is still in the process of exploration, especially the fractionation technology is not very mature.

Fang Chongyong estimated that the methanol content in the wine should seriously exceed the standard, and this thing really can't be drunk too much.

Adapting the technology requires a precise fractionation process, preferably with activated charcoal, and a long selection of grape varieties, which is not something that can be done overnight.

It seems that the development of the wine economy is not feasible in the short term, at least not as the mainstream.

Fang Chongyong sighed, spread out a large piece of paper on the table, polished the ink, and wrote with a pen: "The aftermath of the soldiers before they moved to the town. ”

The relocation of Hexi soldiers and horses to Hedong and Shuofang is the most basic and important part of all his plans. These Qiuba, who were accustomed to taking smuggled black money, weaned off their poisonous milk and moved them out of Hexi, which was the first step to change the economic model.

Of course, Fang Chongyong's reason for Ji Ge was that the relocation of soldiers to the town was a good medicine to prevent local generals from supporting their own troops.

He believed that with the careful eye of Brother Yiji, he would never refuse this offer.

Without the soldiers and horses at hand, it will be difficult for the middle and high-level generals in Hexi to take advantage of this.

However, before the Hexi soldiers moved to the town, there were still a few problems to be solved.

The first is who will pay for the placement fee.

This Fang Chongyong has already told Brother Ji that in principle, it is a means of "who receives, who resides". When the soldiers and horses from Hexi arrived in Lingzhou, Shuofang, they were placed by the people from Lingzhou; In the same way, when Shuofang's army arrived in Hexi, it was resettled by Liangzhou.

On the surface, this seems to be no different from Liangzhou sending money to Hexi soldiers and horses as road expenses, but in fact, it is to buy a month or two of time on the road for Liangzhou!

There is an important hidden attribute of the operation of finance, which is the flow of time. The same loan, repaid a month earlier or a month later, often has a very different effect for a regime.

The second is to deal with the problem of local Qiu Ba's participation in "hoarding speculation".

This one is more difficult to deal with.

For example, the sheep fat jade in the Western Regions was originally very valuable, and the demand in Chang'an was still very strong. Some Qiu Ba in the border town still had some spare money at home, so they exchanged the spare money for mutton fat jade.

And now, the luxury market in Chang'an is chaotic, and no one buys the originally valuable mutton fat jade! Those who have a demand can't afford it, and those who want to get rid of it refuse to reduce the price, so they are deadlocked.

These sheep fat jade can't be eaten or used in the hands of Hexi Qiuba, it's like holding a golden rice bowl to ask for food, not only is their life not better because of these luxuries, but they lack funds to buy farm tools after being trapped, and their lives are even worse! Even the normal tuntian has been affected.

The point is that these things are now hated by people, and no one wants to reduce the price.

Falsely thriving market, too many scalpers. And the real demand is suppressed, the price is too far away from the normal scale, and the supply is over-issued because of false demand!

If the imperial court rashly moved these Qiu Ba to Shuofang and Hedong, then it is conceivable that they would definitely take the opportunity to make trouble. Hexi Jiedu Mansion took the lead in relieving their worries, which was the serious thing that Fang Chongyong, the Jiedu envoy, wanted to do.

So, how can we solve the real problems that these people are experiencing?

The answer is very simple, that is, the government came forward to set up a trading house, bought the luxury goods in the hands of these Qiu Ba people in the Western Regions at a discounted price, and then exchanged them for hard currency such as silk silk.

As for how much discount, it depends on how much conscience the government still has. If you still have a little conscience, then you will get a little less discount, and if you have no conscience, you will break a bone.

Of course, whether you want to exchange it or not is voluntary. Anyway, the Long March athletes in Hexi moved to Hedong and other places, which is a reality that cannot be changed.

To solve this problem, it is to stabilize the grassroots level of Hexi and the hearts of the people in Hexi, and the Hexi Jiedu Mansion has come forward to overcome the chaos caused by the development of the past period of time, and has also re-established the authority of the Hexi Corridor!

Of course, solving the problems at the grassroots level is only the beginning, and there are more troubles to come.

Fang Chongyong continued to write on the paper: "Restore commercial taxes, restore customs duties, crack down on smuggling, and rebuild healthy finances." ”

In the past few years, the Tang Army was personally involved in smuggling, and now to put things right, it is necessary to strengthen the management and hematopoietic capacity of the government. Customs duties and commercial taxes are the bulk of the revenue here, and in the past, they only passed on the risk, which does not mean that these taxes are not necessary.

Unlike the bitter cold land of Longyou, the grain produced in the tuntian here in Hexi is enough to supply tens of thousands of local garrisons.

"It's easy to do without a shortage of food."

Fang Chongyong let out a long breath and continued to write on the paper: "Establish a luxury standard system for silk and the Western Regions, open pawnshops, open money banks, open commercial banks, and give low-interest loans. ”

In his opinion, the central officials of the Tang Dynasty still have a very superficial understanding of "money". Even in the Ming Dynasty, the official who proposed the "Open China Law" did not fully understand what money meant to the country.

Because for an individual, no matter how big a family is, money is just hard currency to sell things. But for the state, the so-called "money" is just an abbreviation of the word "liquidity".

More money and less money, what style is the mainstream, only depends on everything in the circulation link, and has nothing to do with social wealth itself.

The better the liquidity and the smoother the circulation, the more beneficial it is for the development of the economy. People's understanding of this process has gone through three stages: "money is just wealth", "money is not wealth", and "money is still wealth".

The first stage is easy to understand, and to put it bluntly, it is bartering.

In the second stage, whether it is paper money or precious metals, as money itself, there is a process of "the use value gradually approaching nothing", from physical money to credit money.

As for the third stage, in fact, until the establishment of macroeconomics, the human beings who invented paper money generally believed that money was useless. In other words, everyone agrees with the theory of the "monetary veil", that is, money has no practical use for the economy, and money is just a physical veil.

The core view of macroeconomics is the theory that money is useful to the real economy.

In other words, even if it is a virtual currency or a bond, as long as it can circulate smoothly, then it is beneficial to the real economy!

Although the Tang Dynasty used silk as the main body of circulation, in fact, silk silk also has a wide range of use value, and there is not much difference from "bartering" in essence. Such coins are very inefficient in circulation.

It is still in the stage of "money is just wealth".

If a certain "bill" can be used to replace the circulation of silk silk in a small area, then in essence, a number of silk silk in circulation will be "liberated", so that there are more items that can be used in society.

When there is more money that can be traded in society as a whole, and the circulation is smooth, the standard of living will naturally rise.

Fang Chongyong felt that this was the key to Hexi's solution.

And in order to "issue" such bills, it is necessary to hoard an astonishing amount of silk silk in the treasury, which can be used to "exchange" at any time. Similar to the gold standard, except with silk. Or a luxury item from the Western Regions. Or a mix of both.

It's there, you can take it and use it at any time, but ordinary people don't take it or use it, this is the ideal state that Fang Chongyong hopes to see.

To put it bluntly, these items are only used as "collateral" for the issuance of bonds. Fang Chongyong's original intention was not to encourage this kind of goods to circulate in the Hexi market in the form of currency.

So, where did the huge amount of silk come from?

You must know that it is common for caravans to travel between the Western Regions and Shazhou, accompanied by thousands of camels, and the amount of goods transported is extremely large. Even if Brother Ji desperately transports silk silk to Hexi, it may not be able to meet the demand.

Therefore, there must be a corresponding supporting policy, and this set can be played.

Thinking of this, Fang Chongyong wrote on the paper again: "Silk export rationing system, import and export equal amount system, pledge system. ”

Different caravans in the Western Regions have different annual quotas for silk imports according to their "contributions". How to come up with the "contribution", Hexi Jiedu Mansion has the final say, and there is a relatively clear standard.

Anyway, when the time comes, the Hexi Jiedu Mansion stipulates that in order to prevent merchants from the Western Regions from committing evil acts in the Tang Dynasty, when Hu merchants bring goods from the Western Regions into the country, they must also pay a part of the "pledge money" to the Hexi Mansion according to the value of the goods they carry.

In other words, Hu Shang is fine empty-handed, but if he brings goods, he must pay a pledge. And this pledge only receives goods, not precious metals. When Hu Shang returned to the Western Regions, the money would be returned to them.

These "pledges" were originally intended to be used for sale, and they would certainly not be brought back intact, so this was actually a disguised attempt to force Hu merchants to purchase and sell goods locally in Hexi to stimulate the local economy.

The so-called import and export equivalence means that how many goods Hu Shang brings into the customs, he can bring the same price of silk tea and other Datang specialties to the customs.

If Hu Shang came empty-handed, he could only consume in Datang, and he couldn't take a single leaf with him. What is considered a commodity, this needs to be "customs declaration", only after customs declaration, with "export quota", Hu merchants can take goods out of the Hexi corridor.

Of course, there must be "little clever ghosts" carrying a large number of goods from the Western Regions, but in the end they did not declare customs and did not return to the Western Regions by Hexi!

Fang Chongyong felt that it didn't matter, he only thought that those people were contributing to the construction of Datang. In fact, there could not be such a stupid merchant from the Western Regions.

The current situation in Hexi is that customs duties and commercial taxes have been abolished, and the official smuggling channels have been completely destroyed, and it is in an era when demons are dancing wildly. The original agreed rules are no longer observed, and everyone hopes that Hexi Jiedu will come out to preside over the overall situation and restore the previous "glorious years"!

Hexi, which became a "free port", was unable to provide enough financial resources for the government because of the trade chaos, which also caused dissatisfaction among many people in the government and the border army bosses. Therefore, Hexi Jiedu took the lead and set things right, and it was necessary to overkill.

Now is the time to tighten trade policies and set rules for the Hu merchants in Hexi. And these policies envisioned by Fang Chongyong have a lot of room for manipulation, and he can play as much as he wants.

These bells and whistles were not the ones he came up with on a whim, but the experience gained from long-term practice in Hexi, but it was too late to implement them.

Fang Chongyong remembered that when he was just "shaking his hands and stabbing history" in Shazhou, the local government of Dunhuang was actually implementing the policy of "exchanging silk for grain". The government will use the silk silk transported to Shazhou in a unified manner, and exchange the silk in the government treasury for grain in the hands of the people of Shazhou.

The surplus silk was used as a loan to the Hu merchants to revitalize the local business, and when the debts were repaid, the Hu merchants had to repay the loan with grain.

This can effectively control local grain prices and prevent Hu merchants from hoarding.

At first, this kind of policy seems unusual, but slowly, the situation begins to become skewed.

Later, after observing the economic circulation in Shazhou for a long time, Fang Chongyong discovered that the loan notes signed by the Shazhou government had invisibly become some kind of "currency" for large transactions in the local area.

This is very different from the original intention of the government when it borrowed!

In disguise, he became Fang Chongyong's previous life, and people are familiar with the "debt as an anchor"!

The bond can be used to exchange for grain, or it can be used to exchange for silk, and it only needs to be when the contract expires, and the party holding the bond comes to the Shazhou government to repay the debt.

The Shazhou government has guaranteed the credit of the bonds because of its long-term normal lending.

Later, even a certain Hu businessman could take the short-term debt that was about to mature, and under the guarantee of the commercial guild, he could find someone to replace the long-term debt after paying a certain amount of money or trading conditions.

In a limited area, bonds replaced silk and grain, which were inconvenient to carry, and became a kind of currency in disguise.

In fact, this is only one step away from the modern banking system before the advent of the telegraph and telephone.

At that time, Fang Chongyong himself had personally signed many large debt contracts, and he knew a lot about the operation mode of the people.

And those who do not pay their debts, end up physically disappearing. In the vast desert, no place is absolutely safe, and it is too normal for a dead person to bury his bones.

The core of using debt as an anchor is to use debt as a "collateral" to create "money". The key to using debt as an anchor is that this debt relationship is safe and can be exchanged normally after maturity.

It needs two things to escort, one is that a strong army can guarantee the collection of debts and physically eliminate the people who pay their debts; The second is that strong economic strength can ensure debt repayment.

It just so happens that the Tang Dynasty during the Tianbao period, both things are available in Hexi! The Liangzhou border army is strong, even if you don't have money, you can borrow the momentum of the Tang Dynasty.

In fact, playing this set only requires "wealth expectations", not real wealth.

As with the principle of a bank run, as long as not everyone comes together to withdraw money, then the bank can always cope with the day-to-day business. As long as Datang has one day to be strong, then this game can continue to be played.

It's time to give the people of Datang a little financial shock.

Fang Chongyong thought secretly, he did not hesitate to write on the big paper "with debt as the anchor" four vigorous and powerful characters!

As for how long this trick can be played, where can he care so much.

Life is short for decades, if you don't play like this, I'm afraid that you won't be able to mix it up for a month, and what will you do with the remaining decades?

No matter how much, let's talk about it!

Fang Chongyong decided to put this stud first.

(End of chapter)