"Mr. Li, please pay a deposit of 30% first. You are also an old customer who often visits the despicable one. Just wipe off a fraction of the Yuanshi."

The color on Li Zhaochang's face remained unchanged. He nodded slightly and put down the bill. He took out a book-sized leather book from his arms and took out a piece of paper from it.

This is a yellow paper slightly smaller than the book, with only three lines of characters arranged vertically, using the top grid of the umbrella.

The one at the top of the sky is a line of small seal script, which says: Dang Yuan Shi Yifang, and the red seal is stamped on this line.

The two lines on the left and right are standard regular script, with the left and the tickets are written as if they are sold. On the right, the local market price is finished. There is also a line of small characters on the lower right, which is the Tiantong Gate.

There are also various secret notes, patterns and conscriptions on this piece of paper, which I think are used to prevent counterfeiting.

When the boy saw this object, he couldn't help but feel moved. Although he had heard of this object, he saw the real object for the first time and asked, "Father, is this a food coupon?"

Li Zhaochang replied indifferently: "That's right."

Speaking of this food coupon, we have to mention that the Hua family of Master Chun of Huayuan is also listed as the nine Yangzhou masters.

To the west of Jingzhou is Liangzhou and to the east is Yangzhou. These two places have similar climates to Jingzhou, with even hydrological conditions that are even higher in soil fertility than Jingzhou. The rice in these three places is basically ripe twice a year, and in the southern part of Yangzhou, it can even ripe three times a year.

Therefore, Yang, Jing and Liangzhou can be called the hometown of fish and rice, and a large grain-producing state.

If there is surplus of food, it will naturally be sold to other places. The previous document mentioned that the Zhongzhou business in Chixian County was not man-made obstacles, and with the help of immortal arts, the geographical isolation of long-distance travel is not a big problem.

However, Yangzhou has excellent geographical conditions, and there are many people who have opened mountain gates and established families here. Gradually, some sects with grain business have come together. Their original intention was to save logistics costs and reduce the risks of transportation.

Anyone with some common sense of economics knows that the transportation industry relies on scale. The larger the overall scale, the lower the unit cost. Therefore, different sects and families joined forces to establish the predecessor of Tiantong Gate, the Wantong Chamber of Commerce, less than a hundred years ago.

In fact, at the beginning, this was just a logistics supplier that integrated the escort agency, the car shop and the boat shop specializing in serving grain transactions. Its establishment provided a lot of convenience to local merchants in Yangzhou, and they did not have to escort them with the goods. As long as they hand over their own grain to the local branch of Yangzhou, they would send it to their destinations in the north.

Communication in the Xianxia World is extremely developed again. Now the merchant doesn’t even need to go on a journey. He discusses the price or exchanged goods with customers from afar. After confirming the payment method, he directly sends out his receipt from Wantong Trading Bank to the customers and asks them to pick up the goods at the Chamber of Commerce.

Next, the parties to the transaction think that why both parties have to be so troublesome? Wouldn’t it be easier to directly make the chamber of commerce a third party? So the chamber of commerce had a third-party transaction business that collected and delivered the goods on their behalf.

Do you know what you can play in this very simple third-party transaction? You must know, because you will know it by looking at Alibaba and Alipay.

Simply put, on this basis, Wantong Chamber of Commerce has changed from a purely transport-oriented merchant mutual aid association to a trading giant.

Due to the diversification of commodities and the diversification of demand, the business forms have become complicated. Because of the existence of such a third-party trading platform, the transaction costs of all parties to the transaction have been greatly simplified. Wantong Chamber of Commerce has become the largest intermediary in Jiuzhou. The price difference and handling fees earned on it alone are shocking.

What really made Wantong Trading Bank among the Tianmen are the commercial papers generated by these trade activities and the financial services industry surrounding these bills.

Some readers may not be familiar with trade and financial practices, so let me explain it here. Give an example that is not that complicated.

A grain merchant from Yangzhou sold a batch of grain to an old customer in Yongzhou, but the old customer was short of cash, so he wrote a loan note to him. Of course, the loan note contained the names of both parties, the loan amount, interest calculation, repayment date and optional mortgage method.

After that, Yangzhou grain merchants negotiated with others to buy horses, and this time it was his turn to lack funds. The repayment date for the loan did not come.

So he found Wantong Chamber of Commerce, hoping to transfer the loan to the Chamber of Commerce, and he only had the original amount of the loan and the interest due. The Yangzhou merchant sacrificed the interest after this and received cash. This behavior is called discount in our world.

The Chamber of Commerce accepted the proposal given that both parties have been old customers who have been working together for many years and that the debtor has goods that can be used as collateral within the Chamber of Commerce. The Chamber of Commerce accepted the exchange, which is acceptance.

When the repayment date reached the repayment date, the Chamber of Commerce received the loan and all the interest from the Yongzhou guests, and all the three parties received it.

Yongzhou merchants paid some interest to obtain goods in advance to meet their needs. Yangzhou merchants sold goods to earn profits and interest in the early stage of the loan. At the same time, they revitalized funds by discounting and could participate in the next round of transactions to make profits again. The Chamber of Commerce used idle funds to obtain an interest.

Just as our ancestors said, money and goods are the most divine things, and there is no way to save money and accumulation, only when they are circulated and flow can they be seen.

At this moment, if Woking, the wealth lady in the DND Feren plane, also exists in this world, he will probably be able to increase from weak divine power to medium divine power at once.

This simple and helpful move means that bills have become a special commodity! From then on, bills can be transferred, purchased, sold, and the parties involved can also make profits from these actions.

By the way, the loan notes are currently priceless securities in the Celestial Empire and cannot be transferred.

Wait, some professional or careful readers will say this when they see it, so what exactly is the currency they borrow and transfer?

Dear readers, let me imagine that if there is such a magical mineral in our world, it can not only enhance physical fitness, prolong life, and live forever; it is even a clean energy with a very high combustion rate, which can provide power by plugging into special machinery and tools, but also zero pollution; what is even more amazing is that it is also an important and indispensable industrial raw material and a necessary material for making precision electronic equipment.

Then we may not have agricultural civilization and industrial civilization, but will directly establish a civilization on it, and all the economic activities of this civilization must revolve around it.

That's right, the currency mentioned in the previous document is another specialty of the world of fairy tales, Yuanshi.

The reason for this is the familiar saying that Yuanshi is naturally not a currency, but currency is naturally Yuanshi.

However, using Yuanshi as the basic currency will face a dilemma. This dilemma actually has always been throughout the ancient Celestial history in our world, at least before the middle of the Ming Dynasty. Of course, there is now a high-end, atmospheric and high-end saying, deflation.

This deflation is not caused by structural economic problems of insufficient total demand, because ancient China has maintained a super status, which can be said to be dumping products to the world, but is simply a technical problem of insufficient money supply.

Of course, it is not that there was no inflation in ancient China. Instead, the scale was lengthened and the period from the implementation of Wuzhu coins in the Western Han Dynasty to the time when a large amount of silver was imported into the middle of the Ming Dynasty.

Most of the gold and silver production areas in China are small and are not in the core area of ​​the Chinese civilization. The mining technology in ancient times is poor, which makes us not use gold and silver coins like ancient Greece and Rome from the beginning but copper coins.

The copper coins in ancient China could basically exercise the functions of gold and silver currency, such as unlimited legal compensation, free minting and free exchange, but the storage function was lacking. This is not absolutely saying that no one would store copper coins as deposits, such as the "Fengchun coins" accumulated by the famous Northern Song Dynasty to recover Yan Yun.

Rather, copper coins, especially private money with unstandard content and various "money" types, are very consistent with the principle of bad money driving out good money, which means that not only no one stores it, they find ways to spend it early.

However, even if copper, which is more convenient to mine, is much more stock than gold and silver, is still not enough to meet the currency needs of ancient China.

The reason is very simple. People can take back the copper coins issued by the government and cast them into copper ware, or simply cast them into private coins. There have been several times in history that rulers tried to decouple the face value of copper coins from copper content, such as Wang Mang Xin coins, Dong Zhuo Xiao coins, Liang Wu iron coins, and various names of "five to ten coins".

Of course, they all suffered shameful failures.

The most exaggerated example is Dong Zhuo’s small money, which only reduced the copper content by one fifth, and the price soared ten thousand times!

It can be said that it was not Diao Chan and Lu Bu who killed Dong Zhongying, but the uncivilized coins he ordered to issue. Of course, there is another very "ideal" reason. The raw materials for these coins came from copper coins cast by the First Emperor, and were dug out from tomb robbers. This omen is really not good.

So after entering the Tang and Song dynasties during the heyday of Chinese feudal society, paper money began to appear.

Returning to the world where the boy is now, Yuanshi is a necessary item for cultivation, and it is also a depleted item. In addition to having to take it out and exchange it, the immortals basically store it in their own warehouse.

So when there are not many commodities on the market, mainly transactions between immortals, those circulating Yuanshi can barely maintain the demand for circulation. However, with the development of commerce, especially when trade between mortals accounts for a greater proportion, the society as a whole will lack Yuanshi currency, that is, deflation is about to occur.

Of course, at this time, other commodity currencies also appeared in the market, such as the half-liang black iron coins made by the Tie family, which is more primitive, and similar products are also found in other places: elixirs, talismans, jade, etc. However, these currencies are actually commodities themselves, and due to their output, they cannot assume the function of the currency of the entire Jiuzhou.

Fortunately, decades ago, when Chixian Zhongzhou was about to deflate due to insufficient Yuanshi money supply. The commercial paper of Wantong Chamber of Commerce emerged and matured rapidly in commercial practice, allowing this hidden danger to be eliminated.

This is not to say that there are powerful people in Wantong Trading Company who can make bills pass through Chixian Zhongzhou on a whim. Instead, the so-called heroes in the times, Wantong Trading Company, which created the bill industry, just became the trendsetter of the times.

These bills immediately assumed the function of currency, and then developed a currency that could not be considered real currency, becoming a hard currency second only to Yuanshi, especially in bulk transactions between mortals. This is called banknotes in the basic plane, and here it is called food coupons.

This name shows the difference between food coupons and real currency. The holder can take this unnamed bill directly to Tiantongmen and its affiliated branches to exchange food on the spot. It is worth noting that this is based on the so-called "market price".

Of course, this market price was naturally set by Tiantongmen based on the market conditions. Therefore, they have mastered the right to price grain in various places!
Chapter completed!