"It's because..."

Zhu Fan was praised, and subconsciously wanted to make persistent efforts.

But as soon as the words began, he was stuck.

If it is a military issue, Zhu Fan may still be able to talk nonsense.

Faced with this novel knowledge, he could only smile awkwardly:

"Please also ask the gentleman to explain my doubts."

"The treasure money is worthless, the root is the current emperor Hongwu Emperor!"

Lin Che didn't expect Zhu Fan to give any answer.

So, after the other party asked for advice, he gave him a lecture directly.

However, the first sentence made Zhu Fan dumbfounded.

Lin Che was calm.

also added slowly:

"Of course, the crown prince and the ministers also contributed a lot to this!"

Good guy, all the most powerful people in the Ming Dynasty were brought out at one time.

Even if Zhu Fan has experienced it, Lin Che criticized the current emperor, and the horror scene is the same as Zhao Gou.

But he still can't accept it, when his own husband is lecturing.

In the words of such outsiders, it is not possible to make the astonishing words that will destroy the nine clans to deepen the impression of students.

"What's that look on your face?"

Lin Che noticed Zhu Fan's almost distorted and complicated expression.

He solemnly emphasized:

"From the perspective of monetary theory, the first reason why treasure money is not worth much today is that the current emperor, Emperor Hongwu, has something to do with the decision made by the courtiers to print treasure money indiscriminately!"

Since Emperor Hongwu issued treasure banknotes, the indiscriminate issuance of treasure banknotes has become the norm in recent years.

After all, he was born as a peasant, no matter how eloquent Emperor Hongwu was.

With regard to economic issues, we still have a narrow vision and do not look at the problem in the long term.

In addition, in the early Ming Dynasty, there were places where money was used everywhere.

So, Emperor Hongwu in order to save money.

In the rewards given to the ministers, the treasure money accounted for the vast majority.

And the amount is usually not small.

Anyway, in Emperor Hongwu's opinion, treasure banknotes are just casually printed paper, and there are as many as they want.

I didn't care too much about the amount.

Fortunately, the treasure banknotes were not issued for long.

No matter how indiscriminately printed, compared to the entire Ming Dynasty, the total amount is actually not very much.

However, Emperor Hongwu, who tasted the benefits, immediately waved his hand and ran the Daming treasure banknote printing press crazy.

The treasure banknotes of the same face value, it didn't take long to buy something for 400 Wen, and it was already a big injustice.

With the continuous crazy operation of the printing press, until now, it has always been a treasure banknote, and it can only buy 200 Wen things in the sky.

Lin Che briefly described to Zhu Fan the reasons why the purchasing power of Daming treasure banknotes declined step by step.

However, Zhu Zhang, who is used to living a rich life.

Although I have a sense of the decline in purchasing power, I can only say that I am not deep enough.

Instead, he helped Emperor Hongwu shake the pot and said:

"Sir, since you said that Emperor Hongwu has just issued treasure banknotes, and the treasure banknotes have always been worth 600 Wen."

"And now it's only been a few years, and this treasure can only be used for 200 wen."

"In my opinion, at least ninety percent of the value of the four hundred wen that disappeared in the middle is the responsibility of the household department!"

Lin Che listened to Zhu Zhang's ass-to-head argument.

couldn't help but be angry and funny, and gave this kid a brain meltdown.

"You kid, what I just said is assessing the responsibility for the depreciation of treasure money?"

"This is clearly because there is no implementation of the supporting reserve system."

"The trust of the treasure banknotes by the people has been decreasing, so the purchasing power has plummeted."

"Sir, what is the reserve system?"

Zhu Fan was reprimanded by Lin Che, and hurriedly lowered his head and humbly asked for advice.

Lin Che saw that Zhu Fan was fast, and he didn't dwell on the previous topic.

"The so-called reserve fund means that when the imperial court issues treasure banknotes, it should be prepared to protect the value of treasure banknotes, and to exchange gold and silver with treasure banknotes..."

Speaking of this, Lin Che suddenly couldn't say any more.

Throughout history, the treasure money system of the Ming Dynasty was placed in any era.

All belong to the unique wonders.

Even the gold standard began to recede into the background, and credit money was gradually implemented in later generations.

The state will do everything in its power to put more gold in the treasury.

In order to increase the confidence of ordinary people in their own currency.

Avoid unplanned fluctuations in currency values due to barely needed reserves.

However, in today's Ming Dynasty.

Reserves for treasure banknotes?

Inexistent.

With a wave of Emperor Hongwu's hand, the imperial court began to use treasure money.

The common people actually recognized its value.

It can only be said that Lao Zhu is really good to the people.

Therefore, the common people do not have the slightest suspicion that the treasure money issued by him should be used as money.

Lin Che knew that just talking about theories, Zhu Fan would definitely be able to listen to the clouds, mountains and fog.

He mentioned the Great Song Dynasty, which was the most economically developed in the feudal era.

"Just a simple example."

"During the Great Song Dynasty, the merchants of Sichuan and Chongqing were very inconvenient to trade because the iron money they used was too heavy."

"Some businessmen banded together and set up a jiaozipu, which was the original money bank."

"I want to issue Jiaozi in this way, in the transaction, instead of iron money that is inconvenient to transport."

When Zhu Fan heard this, he suddenly couldn't help but interject:

"Sir, the merchant who established the money bank does not have the support of the imperial court."

"How can other businessmen admit the Jiaozi they issued?"

When Lin Che heard this, he was not displeased at all when he was interrupted from his lecture.

Instead, he praised Zhu Fan with a smile:

"That's a good question!"

"You must know that Jiaozi itself is a piece of paper, and if you want everyone to recognize its value, you must save enough money in the bank!"

"That's what I'm talking about."

And that's exactly how it happened."

The reason why Jiaozi was able to spread in Sichuan and Chongqing.

The earliest relied on the reputation of those big businessmen for many years, and the large amount of iron money piled up in Jiaozi shops.

Also, they have a lucrative local estate.

This last point is particularly important.

Anyway, in the feudal era, no matter how much you cheat and cheat in private, you still have to talk about honesty on the surface.

Not to mention, everyone is a villager.

If someone dares to deceive people.

The deceived person can organize a group of villagers on the same day and dig up the ancestral grave of such a guy with no conscience!

Go to the house of the scammer again, and get the deceived money back!

In this way, the businessmen who manage Jiaozi Qian Zhuang naturally dare not play any tricks.

In the early stage, it has always been the case, how much iron money is saved, and how much money will be handed over.

Lin Che gave Zhu Fan a little bit and told him about the development history of Jiaozi in the Great Song Dynasty.

He also added his own conclusions.

"Because of the existence of reserves, the currency value of Jiaozi has been very stable at first."

"Until the boss of the money bank, because of the massive wealth in the money bank, pressed his will to hold the ancestral tomb, and began to secretly take the money bank's savings and play the trick of borrowing chickens and laying eggs!"

"As a result, the investment business naturally loses money, and if you want to earn it back, you will stop it, but you will lose it again, so you want to earn it back..."

"In this way, the value of Jiaozi's currency slowly decreased, until it completely lost its value and stopped circulating..."

(End of chapter)