Discussion of Chapter 1103

Xue Xiang asked: "How much?"

"The handling fee is not high, five percent, twelve thousand five hundred dollars."

Xue Xiang's white eyebrows twitched: "How much?"

Su You smiled: "Didn't Mr. Xue always complain that the Mint was a burden to the Third Division? I suggested that the power should be transferred to Huangsong Bank and that the Third Division should be given the power of supervision, but Mr. Xue was unwilling."

"With the handling fee of 12,500 guan, Mr. Xue should be satisfied, right?"

Xue Xiang waved his hand: "Mingrun, don't make trouble, we are talking about the national economy now."

Su You said: "These two hundred and fifty thousand banknotes will indeed bring benefits to the Liao Kingdom, but Mr. Xue, haven't there been too many disasters caused by the indiscriminate issuance of bad money since ancient times?"

"In the early Han Dynasty, half a tael of money was issued, that is, twelve bahts. However, the pod coins of Liu Bang's time were only five cents, eight bahts of Empress Lu's time, and four bahts of Wenjing's time. The actual weight was seriously inconsistent with the currency value."

"The right to mint coins does not belong to the central government, and the size and weight of copper coins are inconsistent, which leads to a very chaotic currency system and creates an opportunity for private individuals to mint bad money."

"People at that time did not know the importance of currency. For example, Deng Tong blatantly obtained the emperor's permission to issue currency. This led to serious economic chaos in the country."

"During the Wang Mang period, the excessive issuance of bad currency made things expensive and the people were in dire straits, which directly led to the collapse of the new dynasty."

"In the Tang Dynasty, the early economic conditions were generally relatively good, but as production recovered and the economy developed, some problems began to arise in currency circulation."

"That is the shortage of currency, the shortage of currency in the circulation field, and the proliferation of private coinage and bad money again."

"In the fourth year of Wude, five baht and other miscellaneous coins were abolished, and only Kaiyuan coins were used. The minted coins were returned to the central government, and private minting was strictly prohibited."

"This was originally a good thing, but the obvious shortage of supply, coupled with the increase in foreign troops and fiscal expenditures, led to an even greater shortage of currency. Instead of suppressing private coinage, it became more prevalent."

"In order to rectify the bad money, starting from the fifth year of Emperor Xianqing's reign in the Tang Dynasty, he exchanged good money for bad money at a ratio of one to five, and also sold rice and grain in an attempt to collect the bad money."

"But economic laws are not subject to human will. If the amount of monetary financing is insufficient, it is destined to be impossible to achieve good results."

"So the Tang Dynasty tried to rectify it by casting new money."

"The 'Qianfeng Quanbao' was minted in the first year of Qianfeng. The weight of the money increased by 10% compared to the Kaiyuan coin, but it had to be used as ten coins of the Kaiyuan coin."

"This itself is a kind of falsely priced and bad money. As a result, people collect old money, merchants are blocked, and the prices of rice, silk and other commodities rise, so it can only be abolished."

"It wasn't until the Kaiyuan and Tianbao years of Xuanzong that the emphasis was placed on agricultural production, redundant officials were eliminated, food feudalism was suppressed, and monks and nuns were forced to return to secular life, which lightened the burden on the people, production increased again, and prices began to fall, and private industry was able to relax."

"However, the good times did not last long. In the late Xuanzong period, the emperor did not care about political affairs and lived a luxurious life. After the Anshi Rebellion, military expenditures were huge and the finances became more difficult."

"The imperial court had no choice but to use the fifth Qi's money method in July of the first year of Qianyuan to cast 'Qianyuan as Ten' and 'Zhonglun Qianyuan Chongbao'."

"The weight of Chongbao money is three times that of Kaiyuan money, but it has to be used as fifty times of Kaiyuan money. After the big money was issued, prices skyrocketed. 'The price of a bucket of rice is 7,000 yuan, and the starving people sleep on the road.'"

"At the same time, piracy of coining was serious. Bells and Buddha statues in temples in Chang'an City were melted down to make money. As many as 800 people were executed for the crime of private coining in one year."

"At that time, people called this kind of money that was inflated as 'virtual money.' This kind of monetary policy itself was to make up for the fiscal deficit and to nakedly plunder the people."

"The result will inevitably be that drinking poison will quench thirst, and currency circulation will fall into complete chaos, bringing great disaster to the country."

"Until the reign of Emperor Daizong, when Liu Yan became prime minister, he stopped the tithe tax system and improved the taxation law, water transportation, Changping, and salt laws, so that the salt tax increased from 600,000 yuan per year to half of the national tax revenue."

"At the same time, government expenditures were tightened, official positions in the capital were reduced, redundant officials were eliminated, monks and nuns were eliminated, and luxury and frugality were eliminated. By the end of Daizong's reign, prices were finally stabilized and the currency value recovered."

"It is a pity that Liu Yan was killed by Yang Yan before he had time to reform the currency system. After that, the Tang Dynasty had no outstanding economic talents, and they did not keenly grasp the changes in the economic situation and adjust their economic strategies in a timely manner."

"The economy of the Tang Dynasty continued according to the inertia of the policy, which resulted in severe deflation, the reorganization of various regions, and the demise of the Tang Dynasty."

"In the Southern Dynasties, it was a world of warlords. In order to cope with the continuous conquests, warlords of all walks of life made a lot of money, reaching the peak of history."

"Liu Ziye, the deposed emperor of the Southern Dynasties and before the Song Dynasty, cast two bahts in a fine form. Every time official money came out, the world imitated it, but the size and thickness were not as good as it. It has no outline, does not grind, and is easy to imitate. Today's shears and chisels, so it is called

'Leizi Qian'."

"In the first year of Jinghe, Chongqing began to mint money privately, and as a result, money and goods were in chaos. One thousand coins were less than three inches long, so the size was called 'goose-eye money'."

"Goose-eye money is not even worse. Those who are worse than goose-eye money are called 'ring money'."

"If it is threaded through, it will not sink when it enters the water, and it will break into pieces easily. There is no quantity of materials in the market, and one hundred thousand coins will not make a profit. Ten thousand buckets of rice will not be able to sell goods."

"Then the question arises. My Song Dynasty treasure banknotes are made of paper, but why can they pass through the world without any hindrance?"

"The reason is actually very simple. The credit of these old coins lies in the copper they contain. Once the money is not heavy enough, it will become virtual money."

"Everyone here knows that the Da Song Bao Banknote is actually similar to the salt currency. The amount of its issuance is guaranteed by the precious metal stock in the vault of the Huang Song Bank."

"Now the three departments are checking the size of the Song Dynasty's economy, the size of the circulation field, the stock of currency, and the amount of circulation every year."

"Although the affairs are complicated, we can have a comprehensive and detailed grasp of our country's economic situation, and can control the scale of currency issuance to match the national economic situation."

"The Liao Kingdom saw that our imperial banknotes were being used effectively, so they wanted to follow suit. But the problem is that the economic foundations of the two countries are completely different."

"The Liao Kingdom has a single industry, a fragile economy, no independent currency, political corruption, and a foolish monarch. In the north and east, Tatars and women have begun to cause chaos, and there is a lack of economic talents."

"How similar is the economic background of such a country to those dynasties in history where bad currency was prevalent?!"

"The Song Dynasty helped them issue banknotes, which required them to use 250,000 pieces of silk as the currency. But with the economic awareness of the Liao people and the huge benefits of issuing banknotes, their attention to currency will sooner or later start from

The circulation function is transferred to the plunder function.”

"Once there is any crisis in their country, they will inevitably drink poison to quench their thirst, even if I, the Song Dynasty, clearly tell them - you can't do that!"

A conspiracy! A pure conspiracy!

Xue Xiang was also an economic expert and had fully understood Su You's intention. He turned around and bowed to Zhao Xu: "What Duke Yu said is a double-edged sword. Throughout history, there have been many lessons. I hope your majesty will rein in the stone."

The country's wealth and land are important, and I will serve as a warning to future generations."

"The country has no trust in the people, and the people have no heart in the country!"

Zhao Xu felt that today's discussion was fruitful, and he nodded and said: "Five grains and rice are the people's orders; gold swords and coins are the people's charity. Therefore, good people use their gifts to control their orders."

"If you hold it, it will not make you warm, and if you eat it, it will not make you full. The kings in the past used it to guard their property and govern the people, so as to bring peace to the world."

This is a sentence in "Guanzi", which explains the role of currency on the country quite brilliantly.

All the ministers praised him, our Majesty’s knowledge is still good!

I heard Zhao Xu continue to say: "The greed of the superiors has made this national weapon, which is said to lift the world and balance the world, become a beast that devours the lives of the people and is an accomplice in draining the blood of the country. I will not take it."

"Today's discussion is worth it if we get this one result. Let's continue."

Zhang Dun was actually very in favor of Su You's proposal, but he also raised questions from another aspect: "After discussing with the Liao people, there will be more disputes. This gives the Liao people an excuse to make trouble. They are used to being unreasonable.

If we want to disturb three points, how will I deal with it if disputes arise in the future?"

Su You said: "So we have to set a premise, that is, the two countries discuss each other. For the government, it just provides a place for trade. As for the transaction, it is to discuss the behavior of the merchants in the market and has nothing to do with the government.

.”

"The government only exercises supervision, and everything is based on the contract document, which is exactly the same as the domestic settlement of civil disputes between merchants."
Chapter completed!