There are four types of silver notes, which correspond to one qian (100 qian), five qian (500 qian), one liang (one qian), and ten liang (ten qian).

Such a denomination design is the result of repeated consideration. If the denomination value is less than one qian, you can use copper coins directly, with about four grams per cent, and carry dozens of copper coins with you, but there is no extra weight. Transactions that exceed ten qian are very rare in transactions among private people. Moreover, for private people, many people's deposits will not exceed this number. Even if they exceed, they will only cost dozens of qians, and three or two.

Li Mu personally conducted a survey and found that 99% of the transactions on the market were all less than 100 taels.

If one hundred taels are enough, ten taels are enough, and it will not affect the convenience of banknote transactions at all.

If the denomination is too large, it will have a negative impact. Just imagine that a farmer saved up all his life and only had fifty taels of savings to exchange them into a treasure banknote, but it was accidentally lost... For such a family, it would be a catastrophe.

For bulk transactions for merchants, firstly, there are glass chips to use. In addition, Li Mu also launched the "check" function for merchants. Hold a check with anti-counterfeiting, write the amount, draw a secret seal, and use a seal to complete the transfer at the bank. This eliminates the risks that may be brought about by cash transactions. Of course, checks are not free and need to be purchased, but they are not expensive. Twenty checks are just five taels of silver. It is free to go to the bank to handle the transfer transaction, and there is no money. Bulk transactions are originally necessary to pass through the bank to make it safer.

In fact, for the environment of the early Tang Dynasty, the purchasing power of one tael of silver (constant money) was very high. Li Mu once compared the purchasing power with the prices in his previous life.

One penny is about one dollar. A car of silver costs one thousand yuan. Even in Li Mu's previous life, only a small number of people who spent 1,000 yuan a day in daily life.

So there is no problem with the small denomination for the time being. It will be too late to consider issuing a new version of Baochao after more than ten or twenty years.

...

Although the design is very good, it is not easy to promote the bank nationwide.

In order to avoid the Tang Dynasty Baochao becoming the Ming Dynasty Baochao, the first thing Li Mu had to do was to absorb reserves. Moreover, in order to obtain absolute safety, the reserves designed by Li Mu were either based on percentages, primary levels, or one to one. Although this way, the flexibility has decreased, the risk has also been smaller.

Li Mu's plan is very small, and he hopes to gain the right to issue money through the bank. Naturally, there are fewer reserves. In the early stage, even if he only manages the business of the Ministry of Internal Affairs and the Ministry of Foreign Affairs, he would have to barely be able to do so.

If Wang Ou and Mrs. Lu support one million coins, it is not impossible to get together. But this is not done. Let’s not say, will it attract Li Shimin’s fear? Even if Li Shimin is not afraid and one million coins are collected, the bank will not belong to the Tang Dynasty, but to Li Mu’s own family. A family has the right to issue money in a country, and no emperor can allow such a thing to happen.

After thinking about it, Li Mu was still preparing to issue bonds using the old method.

Three-year bonds are one cent profit. They are jointly guaranteed by the Ministry of Internal Affairs, Foreign Affairs, and Treasury. If the money is not paid back in three years, the money will be jointly borne by these three companies. Li Mu told Li Shimin about this matter, which attracted Li Shimin's laughter. Recently, because he read Li Mu's memorial, there were many things he couldn't understand. Li Shimin also really found many officials from the Ministry of Revenue to make up for financial knowledge.

When Li Mu said that the interest rate was only one cent, Li Shimin couldn't help laughing: "Just just have your interest, a fool will lend you money!"

Li Shimin's judgment is not aimless.

Li Mu set the rule at that time that banks would borrow from outside mortgages, and three cents would be the top of the profit. Li Shimin also inquired about it. Usually, the interest of 5 cents is the most common. A simple logic is that when you lend out, the interest is 5 cents, but why do you get one cents of profit when you take out a loan?

This is not obvious to tell others that you fools, I will make a profit of one penny, and I will give you five cents in vain.

Moreover, although banks have set the interest rate on private lending. The past double interest rate no longer exists, the private interest rate is actually far higher than that of banks. Because banks only have them in Chang'an, other places still rely on private lending.

Nowadays, private lending emphasizes nine out of thirteen returns, which means that you want to borrow ten taels of silver, but when you give it to you, you only have nine taels of silver. That's not counting, you have to pay back thirteen taels when you pay it back. There is a difference of four taels inside and outside.

If there is money among the people, isn’t it good to make the difference? The interest rate given by Li Mu can’t keep up with someone’s month. Isn’t this just a fool lending him?

"Don't you believe it." Li Mu shrugged and smiled faintly: "If you believe it or not, just steal the head?"

"It's starting again..." Li Shimin smiled helplessly and rolled his eyes and said, "I believe it, but I have learned about this matter, and it's impossible."

Li Mu smiled, but was not stubborn, and said, "Your Majesty, I will be in heaven and earth tonight to invite the business community in Chang'an. If Your Majesty doesn't believe it, you can join in the fun and see how I made a million yuan in one night."

"I really have to see," Li Shimin was fine, so he argued with Li Mu: "Send the meal first, let's go together after the meal, so you won't do anything."

Li Mu smiled helplessly, following Li Shimin's wishes. He had lunch with him, and then took a car to the heaven and earth.

Li Yourong still looked that way, cold and cold as if he was unfamiliar with anyone. Seeing Li Mu and Li Shimin, Li Yourong saluted Li Shimin and just nodded to Li Mu, just pretending to be dealing with it.

Li Mu was used to it and didn't bother with her. He was about to take advantage of Li Shimin's time to enter the private room to ask Li Yourong if Bai Qiaoqiao had mentioned marriage to her. Li Yourong had already gone downstairs. Li Mu looked at her back and thought to himself, it would be better to change the time and ask carefully.

Li Mu turned around and just entered Li Shimin's private room. Before he could sit down, a young man came over and reported: "Marquis, Li Da, the shopkeeper of the Cui family in Boling, please see the Marquis."

As soon as the young man finished speaking, another young man ran up: "Marquis, the steward of the Duke of Su Guo's mansion, I want to meet the Marquis alone."

"The boss of the Xiao family in Lanling, I want to see the Marquis..."

Li Shimin was dumbfounded. Seeing his appearance, Li Mu said, "If Your Majesty doesn't believe it, you can wait in the inner room. There is a screen here. They can't see Your Majesty, and Your Majesty can hear it clearly and relieve your doubts.

Li Shimin nodded and hid in the screen.

"Let the shopkeeper Li of Cui come in first, come first and then come."

The young man went out to report. After a while, the shopkeeper Li came in with a smile on his face and said hello to Li Mu.

"The banquet hasn't started yet. I'm resting here for a while. Why is the shopkeeper Li so anxious? Will you see him later?" Li Mu also greeted him with a smile and let him into the hall. The east and the west sat down. The conflict between the two had been resolved, so there was no need to hold his face anymore.

"I heard that the Marquis encountered difficulties, the villain came to help the Marquis immediately." The shopkeeper Li looked enthusiastic and took out a letter from his sleeve. Li Mu took the letter and saw that the person who wrote the letter was actually the Cui family. In the letter, the Cui family said that Cui family could take out 200,000 guan, deposit it into the Datang Bank, and exchange it for treasure bank. In addition, he could also take out 200,000 guan to buy the bonds that Li Mu was about to issue. If Li Mu needs it, Cui could still find a way, but he would give him a certain amount of time to raise it.

Li Mu read the letter twice, couldn't help but raise his eyebrows and said, "Master Cui, when did he treat me so well? Does he owe me money?"

"Uh...hehe, that's the case. When the lord heard that the Marquis wanted to borrow 1 million guan, how bad is this to be heard?" The shopkeeper Li smiled a little embarrassedly and said, "Let's get together first. Cui subscribes 400,000 guan, and the Marquis just counts 300,000 guan."

...

Li Shimin was stunned after the screen.

Did this shopkeeper Li get stuck in the mind when he was visiting Lantian County?

I took out 400,000 guan to buy bonds, and it would be enough to count 300,000 guan. Is it worth 100,000 guan?

That's 100,000 guan. You know, the total interest on the maturity of this bond can't be as high as 100,000 guan.

It’s like losing money. Even if there is money, there is no need to be so miserable, right?

What's more, did the Cui family forget their direct grandson and die at the hands of Li Mu?

In the outer hall, Li Mu offered praise: "Great! It's so good, it's true that I won't know each other without fighting, good brothers will last for the rest of my life!"

"The ancients said that those who are close to the vermil and those who are close to the ink are black. How could they not learn anything if they are influenced by the Hou? The Hou is for the country and country of the Tang Dynasty. We cannot help much, so we must help with it." The shopkeeper Li said seriously: "Then, this matter is settled like this? The Hou must not refuse, as the refusal will be disappointed. The refusal will be a disappointment to the Lord of the Fen. We will not call him friends..."

"I only need my friend to have money." Li Mu smiled and stuffed the letter back into the envelope, saying to the shopkeeper Li: "Thank you for your kindness, I am very grateful. However, this time I can't give the debt to Cui so much."

Nowadays, private lending emphasizes nine out of thirteen returns, which means that you want to borrow ten taels of silver, but when you give it to you, you only have nine taels of silver. That's not counting, you have to pay back thirteen taels when you pay it back. There is a difference of four taels inside and outside.

If there is money among the people, isn’t it good to make the difference? The interest rate given by Li Mu can’t keep up with someone’s month. Isn’t this just a fool lending him?

"Don't you believe it." Li Mu shrugged and smiled faintly: "If you believe it or not, just steal the head?"

"It's starting again..." Li Shimin smiled helplessly and rolled his eyes and said, "I believe it, but I have learned about this matter, and it's impossible."

Li Mu smiled, but was not stubborn, and said, "Your Majesty, I will be in heaven and earth tonight to invite the business community in Chang'an. If Your Majesty doesn't believe it, you can join in the fun and see how I made a million yuan in one night."

"I really have to see," Li Shimin was fine, so he argued with Li Mu: "Send the meal first, let's go together after the meal, so you won't do anything."

Li Mu smiled helplessly, following Li Shimin's wishes. He had lunch with him, and then took a car to the heaven and earth.

Li Yourong still looked that way, cold and cold as if he was unfamiliar with anyone. Seeing Li Mu and Li Shimin, Li Yourong saluted Li Shimin and just nodded to Li Mu, just pretending to be dealing with it.

Li Mu was used to it and didn't bother with her. He was about to take advantage of Li Shimin's time to enter the private room to ask Li Yourong if Bai Qiaoqiao had mentioned marriage to her. Li Yourong had already gone downstairs. Li Mu looked at her back and thought to himself, it would be better to change the time and ask carefully.

Li Mu turned around and just entered Li Shimin's private room. Before he could sit down, a young man came over and reported: "Marquis, Li Da, the shopkeeper of the Cui family in Boling, please see the Marquis."

As soon as the young man finished speaking, another young man ran up: "Marquis, the steward of the Duke of Su Guo's mansion, I want to meet the Marquis alone."

"The boss of the Xiao family in Lanling, I want to see the Marquis..."

Li Shimin was dumbfounded. Seeing his appearance, Li Mu said, "If Your Majesty doesn't believe it, you can wait in the inner room. There is a screen here. They can't see Your Majesty, and Your Majesty can hear it clearly and relieve your doubts.

Li Shimin nodded and hid in the screen.

"Let the shopkeeper Li of Cui come in first, come first and then come."

The young man went out to report. After a while, the shopkeeper Li came in with a smile on his face and said hello to Li Mu.

"The banquet hasn't started yet. I'm resting here for a while. Why is the shopkeeper Li so anxious? Will you see him later?" Li Mu also greeted him with a smile and let him into the hall. The east and the west sat down. The conflict between the two had been resolved, so there was no need to hold his face anymore.

"I heard that the Marquis encountered difficulties, the villain came to help the Marquis immediately." The shopkeeper Li looked enthusiastic and took out a letter from his sleeve. Li Mu took the letter and saw that the person who wrote the letter was actually the Cui family. In the letter, the Cui family said that Cui family could take out 200,000 guan, deposit it into the Datang Bank, and exchange it for treasure bank. In addition, he could also take out 200,000 guan to buy the bonds that Li Mu was about to issue. If Li Mu needs it, Cui could still find a way, but he would give him a certain amount of time to raise it.

Li Mu personally conducted a survey and found that 99% of the transactions on the market were all less than 100 taels.

If one hundred taels are enough, ten taels are enough, and it will not affect the convenience of banknote transactions at all.

If the denomination is too large, it will have a negative impact. Just imagine that a farmer saved up all his life and only had fifty taels of savings to exchange them into a treasure banknote, but it was accidentally lost... For such a family, it would be a catastrophe.
Chapter completed!