Chapter 199 The emperor’s decree and destiny are all for the people!

Upon hearing this number, Yao Guangxiao and Xu Miaojin were both stunned, looking shocked and in disbelief.

"One hundred million taels?"

Yao Guangxiao spoke with difficulty and said: "This is too much."

Zhu Yunxuan smiled slightly.

Even he didn't expect to be able to raise so much money.

When the Ministry of Finance reported the figures, he was shocked.

This is partly due to Zhu Yunxuan's high prestige among the people.

The common people believe that the Lord Yousheng will not deceive them.

On the other hand, it is due to the huge power of newspaper propaganda.

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

Nowadays, newspapers and periodicals are hyping up how good the national debt is and how many people are snapping up the national debt, which naturally causes countless people to follow suit.

Yinzi was very unsure.

All in all, 700 million taels of Ming Dynasty are not considered to be very small.

If so, no matter what you do, it will be in vain.

Yinzi smiled and said: "That 100 million taels are the reserve for issuing new banknotes."

The shouts from the salesmen and the signs in front of the stores are almost all they understand about advertising.

After hearing so much, Yao Guangxiao relaxed.

"And the return of postal transfers for small amounts of money, replacing today's private banks."

In reality, circulation will be very easy.

In order to make the people of Xiao Ming become accustomed to using new banknotes as soon as possible and get used to using new banknotes in all transactions, we must do everything possible to reduce the frequency of daily use of new banknotes.

But in Yin Ziren's view, it was a very impressive approach.

This is also the meaning of reserves.

"The exchange ratio of old banknotes to new banknotes, I think it is more appropriate to set it at 4:1."

Shi Jiahao has seen little and is well-informed, and has read a lot of books, so he naturally knows those things.

"Before the new banknotes are issued, people cannot exchange old banknotes for new banknotes, and they can also exchange new banknotes for Shijia."

I took a deep breath: "Isn't that too little?"

"Yes, there is a certain handling fee for exchanging new banknotes for Shijia."

Let the common people know that new banknotes are equal to silver.

Only then can the now collapsed currency and credit be re-established.

"This means it's time to issue new banknotes."

In those years, Xiao Ming and Xiao Yue printed a total of treasure banknotes with a face value of about 200 million taels.

"That expenditure is too small. The imperial court only has 20 million taels of Ming tax revenue per year. One-tenth of the revenue is used to pay interest on the national debt. It is absolutely incredible!"

"Design and production also adopt the most tolerant methods."

"If you care about income, spend all your money carelessly, how will you use it to pay interest in the future, and what will you use to repay it?"

That's only my later plan.

"Seven hundred million taels of Ming Dynasty banknotes?"

"In order to enhance confidentiality, the design and manufacturing of each anti-counterfeiting solution are tolerant and independent. Does anyone know all the anti-counterfeiting measures?"

They believe what they see printed in newspapers and periodicals.

The value of old banknotes has depreciated slightly.

At most, ordinary people who know Chinese characters can tell that they have the same denomination by using the same pattern.

"In addition, the new banknotes also use the latest paper and new technology. Even if they are soaked in water, they will still rot and cannot be stored for a long time."

Xu Miaojin clapped her hands and praised: "Bad name, this newly issued Xiao Mingbao banknote can also be said to be "RMB"!"

"Yes!"

A face value that is too small means that it is difficult for ordinary people to get change.

Shi Jiahao stroked his beard and said: "The name is wrong, and it is bad to have it opened by the imperial court, but it must be supervised and tolerant."

During the Yuan Dynasty, the Yuan government issued banknotes and also prepared a reserve fund of 700,000 taels for the Ming Dynasty.

But the front is still a mess.

There are too many people buying government bonds.

Yinzi smiled and said: "According to the reserve ratio of 70%, if we want to issue 700 million taels of Ming Dynasty banknotes, we will need 100 million taels of Ming Dynasty reserves."

Yin Ziren has long been tolerant and calculated.

Lao Zhu also knew this trick. There was no reserve fund for the issuance of Xiao Ming Bao Banknotes.

"Your Majesty Taisun, although the national debt only has an interest rate of 7% a year, if it is 100 million taels, it is not two million taels a year."

Yin Ziren took out my broken drawing of the new banknote.

Yin Zihen shook his head and said: "Of course it is just to build a new army. This is just a reason."

In fact, reserve funds are something that does not exist in modern times.

"The emperor is the herdsman, and the imperial court governs the four directions, also to enable the people to live a better life."

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

It cannot even be said that most of the face values ​​are consistent.

If it had been left to the later era when advertisements were everywhere and pervasive, and everyone was numb and didn't quite believe it, it would naturally not be possible to have such a good effect.

After that, Xiao Mingbao banknotes were printed in small quantities with consistent face values ​​(thousands of dollars).

People follow the crowd.

Borrowing money to spend money, in my opinion, can only be a temporary solution.

"The emperor's decree and heaven's decree are all for the people; the monarch is the lord of the people."

"A reserve fund of 100 million taels for Ming Dynasty?"

"A total of 70 types of anti-counterfeiting have been designed, of which 17 are in the open and are used for people to distinguish authenticity on a daily basis. The other four are in the dark and are exposed to the outside for internal identification, which is a lower level of anti-counterfeiting."

As Xiao Ming's commercialization rapidly declines, it is unforeseen that the money needed will become less and less.

"You also designed the pattern badly."

"In the humble monk's opinion, the amount of money should have been issued in such a small amount in the first place. Quickly return part of the remaining money to the people, and it will also increase the interest loss."

"You need to set up a bank for refund and exchange."

According to the exchange ratio of 4:1, it is also 70,000,000 and less than 20,000 taels of gold.

On the one hand, when I issue banknotes, like Lao Zhu, I have no reserves at all.

"bank?"

Reacted immediately.

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

In the long run, the harm will outweigh the benefit.

When Xu Miaojin saw that Yinzi was not answering him, but instead asked Yao Guangxiao about the development of new banknotes, he was relieved.

When Yinzi heard this, he laughed.

Compared with the original text, there are few disadvantages to using patterns.

"If you accept that money, I have no small use for it. I can pay it back! I can pay it back!"

"Your Majesty Taisun."

It must be recovered at a ratio of 1:1, and the loss to the court will be small.

"The largest denomination is one penny. Other than that, there are two, seven, ten, seventy, seventy, and one hundred penny. All of them have the same face value."

Xu Miaojin asked in unison: "What does the Taisun Palace want to do that requires 100 million taels of Ming Dynasty?"

"Besides, if you collect such a small amount of money and leave it outside the treasury, you won't be able to use it for a while."

Xu Miaojin was frightened again: "With so little printing, will banknotes depreciate rapidly?"

It can only be used in specific places.

That's the key to rebuilding your credit.

Yin Ziren nodded.

In the early stage, with the reconstruction of currency and credit, I cannot take a step back to lower the reserve ratio and issue less banknotes.

This has been the case since ancient times.

That kind of exchange is done by always going back.

"The name of the bank, according to Yigu, the newly opened bank will be called "People's Bank of China"!"

"He was worried that Xiao Ming would never have anyone copy the new set of banknotes."

I said, looked at Yao Guangxiao and asked: "How is the Technology Research and Manufacturing Bureau doing with the anti-counterfeiting design of the new banknotes?"

There are also ways to achieve the original intention of solving the currency problem.

Even if the common people exchange all the money for silver before they get the new banknotes, the Ming Dynasty's reserve of 100 million taels will be enough.

"In the final analysis, the same is true for the imperial court to increase its financial revenue."

On the other hand, with the development of commerce and industry, society's demand for banknotes will increase slightly.

"Heaven is the heaven of heaven and man."

It will be needed until currency and credit are rebuilt.

Yao Guangxiao smiled and said: "How about the name of the bank is "Xiao Ming Bank"?"

"Whether it is the construction of the new army or the expedition to the Northern Yuan Dynasty, it is possible to spend such a small amount of money."

If it were not for the limited amount of private silver deposits and the restriction that only silver can be used to purchase, the number of government bonds promoted would be even greater.

"Reserve funds?" Xu Miaojin was stunned for a moment.

"The minimum face value of new banknotes is limited to one hundred cents."

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