Hearing this number, Yao Guangxiao and Xu Miaojin were stunned, shocked and in disbelief.

"One hundred million taels?"

Yao Guangxiao opened his mouth with difficulty and said, "This is too much." ”

Zhu Yunxi smiled slightly.

He was able to raise so much silver, even he did not expect.

When Tobe reported the numbers, he was frightened.

On the one hand, this is due to Zhu Yunxi's high prestige among the people.

The common people all believed that Yousheng Zhenjun would not deceive them.

On the other hand, thanks to the great power of press propaganda.

The people of the Ming Dynasty still have a very superficial understanding of advertising.

The shouting of the vendors, the signs in front of the store, is almost all they understand about advertising.

Nowadays, the newspapers and periodicals are hyping up how good the treasury bonds are, and how many people are rushing to buy them, which naturally arouses the following trend of hundreds of people.

In a sense, this is also a dimensionality reduction attack.

If it were in the era when advertising was ubiquitous and pervasive in later generations, everyone would be numb and not very believable, and naturally it would not have been possible to have such a good effect.

But now the people of the Ming Dynasty are still very simple.

When they see what is printed in the newspapers, they believe it.

There are too many people who buy government bonds.

People conform to the herd.

The same has been true since ancient times.

If it were not for the limited amount of private deposits, and the restriction on the purchase of only silver, the amount of treasury bonds sold would have been even greater.

After hearing so much, Yao Guangxiao became anxious.

"Your Royal Highness, although the national debt only has an interest of two percent a year, if it is 100 million taels, it will be two million taels of silver a year."

"This expenditure is too much, the imperial court only has a tax of 20 million taels of silver a year, and one-tenth of the income is used to pay the interest on the national debt, absolutely not!"

"Besides, collect so much money and put it in the treasury to use it for a while."

"If you don't care about your income and spend your money indiscriminately, what will you pay interest on in the future, and what will you pay back?"

"According to the poor monk's opinion, it should not have issued so much in the first place, and quickly returned some of the excess money to the people, which can also reduce the loss of interest."

Borrowing money to spend, in his opinion, can only be relieved for a while.

In the long run, it will do more harm than good.

Zhu Yunxi laughed when he heard this.

"This money is collected, but it has a big use, and it can't be repaid, and it can't be repaid!"

Yao Guangxiao asked puzzledly: "What does His Royal Highness the Taisun want to do, do you need 100 million taels of silver?" ”

"Whether it is the construction of the new army or the expedition to the Northern Yuan, it is impossible to spend so much."

Zhu Yunxi shook his head and said, "Of course, it's not just for the sake of building a new army, it's just a reason. ”

As he spoke, he looked at Xu Miaojin and asked, "How is the anti-counterfeiting design of the new banknote, and the Technology Research and Manufacturing Bureau doing?" ”

"A total of 20 kinds of anti-counterfeiting are designed, of which 12 are in the light and used for the people to distinguish the authenticity in their daily lives, and the other eight are in the dark, which are not announced to the public and used for internal identification, which is a higher level of anti-counterfeiting."

"You can rest assured that this new set of banknotes, no one in Daming will imitate it."

"In order to strengthen confidentiality, the design and manufacture of each anti-counterfeiting program is strictly independent and separate, and no one knows all the anti-counterfeiting measures."

"Design, production, and the most rigorous methods are also adopted."

"In addition, the new banknotes also use the latest paper, using new technology, even after being soaked in water, they still do not rot and can be stored for a long time."

Zhu Yunxi nodded.

"Then you can issue new banknotes."

"The exchange ratio between the old banknotes and the new banknotes is set at 4:1 in my opinion."

The value of old banknotes has depreciated significantly.

If it is recovered at a ratio of 1:1, the loss of the imperial court will be large.

Nor can it achieve the original purpose of solving the monetary problem.

"His Royal Highness."

Yao Guangxiao couldn't help but be a little anxious when he saw that Zhu Yunxi didn't answer him, but asked about the development of Xu Miaojin's new banknote.

Zhu Yunxi smiled and said: "This 100 million taels of silver is the reserve for the issuance of new banknotes. ”

"Reserves?" Yao Guangxiao was stunned for a moment.

It was immediately reactive.

In fact, reserves are not something that is unique to modern times.

During the Yuan Dynasty, the Yuan government issued banknotes and prepared a reserve of 500,000 taels of silver.

But in the end, it was still a mess.

Lao Zhu didn't believe in that set, the Daming treasure banknote was issued, and there was no reserve at all.

Yao Guangxiao is well-informed and well-read, so he naturally knows these things.

"A reserve of 100 million taels of silver?"

He took a deep breath: "That's too much, isn't it?" ”

Zhu Yunxi said with a smile: "According to the reserve rate of 20 percent, if you want to issue 500 million taels of silver banknotes, you need a reserve of 100 million taels of silver. ”

"500 million taels of silver bills?"

Yao Guangxiao was frightened again: "With so many prints, won't the banknotes depreciate rapidly?" ”

"No!"

Zhu Yunxi is very confident.

On the one hand, he issued banknotes, unlike Lao Zhu, who did not have any reserves at all.

On the other hand, with the development of commerce and industry, the demand for paper money in society will increase significantly.

Counted, 500 million taels of silver, which is not a lot.

This is only his plan in the early stage.

In the later stage, as the credit of the currency is rebuilt, he can further reduce the reserve ratio and issue more banknotes.

With the rapid commercialization of Daming, it can be expected that more and more money will be needed.

"The face value of the new banknote is limited to a maximum of 100 wen."

Prior to this, Daming treasure banknotes were printed in large quantities in the face value of the same (thousands of texts).

It can even be said that the vast majority of the face values are consistent.

But in Zhu Yunxi's view, this is a very speechless approach.

Too large a face value means that it is difficult for ordinary people to make change.

In reality, circulation would be very difficult.

It can only be used in certain places.

In order to make the people of the Ming Dynasty proficient in the use of new banknotes as soon as possible and accustomed to using new banknotes in any transaction, they must do everything possible to increase the frequency of daily use of new banknotes.

"The smallest denomination is one denomination, and in addition, there are two, five, ten, twenty, fifty, and one hundred denominations, a total of seven different denominations."

"I've designed the pattern too."

Zhu Yunxi took out the new banknote schema he had drawn.

There are many benefits to using patterns compared to the original text.

At least, people who don't know how to read can distinguish different denominations through different patterns.

It can also leave a very deep impression on the people.

"After the new banknotes are issued, the people can exchange the old banknotes for new banknotes, and they can also exchange the new banknotes for silver."

"However, there is a certain fee for exchanging new banknotes for silver."

This is the key to rebuilding credit.

Let the common people believe that the new banknote is equal to silver.

Only in this way can the credit of the currency, which has now collapsed, be re-established.

Otherwise, no matter what you do, it's all in vain.

This is also the meaning of reserves.

Zhu Yunxi had already calculated strictly.

Over the years, the Ming Dynasty has printed a total of more than 200 million taels of treasure banknotes.

According to the exchange ratio of 4:1, it is also more than 50 million taels of silver.

Even if the common people get the new banknotes, they all go to exchange them for silver, and the reserve of 100 million taels of silver is enough.

This exchange does not have to be done all the time.

When monetary credit is rebuilt, there is no need for it.

"You need to set up a bank for the exchange."

"and to make large sums of money by mail, replacing today's private banks."

"Banks?"

Yao Guangxiao stroked his beard and said, "This name is good, and it is good for the imperial court to open it, but it must be strictly supervised." ”

Xu Miaojin said with a smile: "The name of the bank is called "Daming Bank", how about it?" ”

Zhu Yunxi shook his head and said: "Although the establishment of the bank is to solve the financial problems of the imperial court, it is more important to make the lives of all ordinary people more convenient and improve the living standards of the people. ”

"The increase in the imperial court's fiscal revenue, in the final analysis, is also the same."

"Those who are under heaven are the people of the world."

"The herdsmen of the Son of Heaven, the court commands all directions, and it is also to enable the people to live a better life."

"The emperor's mandate is for the people; The sovereign, the lord of the people. ”

"The name of the bank, according to the lonely opinion, the newly opened bank, is called the "People's Bank"! ”

Yao Guangxiao clapped his hands and exclaimed: "Good name, the newly issued Daming treasure banknote can also be said to be "RMB"!" ”

(End of chapter)