I, Zhu Houzhao, join the US imperialist chat group

Chapter 26 Zhu Houzhao: Economy, isn’t this what our ancestors left behind?
[American Xuanzong Jackson: Also, the First National Bank founded by Hamilton and others at that time was also abolished at the urging of President Jefferson, and there was no trouble. How come it was my turn to have trouble? 】

Jackson felt a little wronged.

Naturally, abolishing the Second Bank was not something that was just thought of. The third president, Jefferson, had already done it. There was a precedent that could be followed.

Because at the beginning of the founding of the United States, an institution similar to a central bank was the First Bank of the United States, which was first proposed by Hamilton, the Secretary of the Treasury in Washington.

On February 1791, 2, President Washington issued an act establishing the National Bank.

Hamilton modeled it on the Bank of England.

The first charter period was from 1791 to 1811, a total of twenty years.

Of course, this bank is a private central bank, designed to deal with the severe economic difficulties and debt crisis after the War of Independence. At the same time, the government's currency and taxes must be placed in this banking system. The bank is responsible for issuing national currency to meet the needs of economic development. Required while providing federal loans.

Some people wanted to default on money owed during the Revolutionary War.

Naturally, when the time comes, the stuck point will be abolished.

[ Mercer Lincoln: This must be said to be a bit of a coincidence. When the First National Bank was abolished, it happened to be during the Second War of Independence. In order to fight the war, President Madison and others needed to borrow money, and soon after, they established the Second National Bank, so there was no subsequent economic depression. In your period, there were no large-scale wars, and you gave the power of printing and issuance to the states. As a result... states printed and issued their own currencies, almost destroying the entire country's paper currency system. Think about it for yourself, what if you were in Florida uses money printed in Florida, but when it comes to Virginia, it is money printed by another Virginia bank... What should I do if the Virginia bank does not recognize your money? 】

When it came to his knowledge blind spot, Zhu Houzhao felt a little confused and silent.

But I also felt that something was familiar.

Isn't this... a treasure note?

Zhu Houzhao suddenly thought of the characteristics of the Ming Dynasty.

Jackson said that paper money is not as real as gold and silver. This is not confirmed. The treasure banknotes issued during the Hongwu period were thrown on the ground and no one used them until the Zhengtong period.

Later, after Emperor Chenghua came to power, everyone tacitly agreed not to use treasure coins and instead used gold and silver.

Also, banknotes from one place are no longer recognized in another place.

This... a bank that lasts for a long time is a money bank!

Zhu Houzhao understood in an instant that these unknown and powerful things seemed to be leftover from their play.

"...We should be the ancestors when it comes to making money. Emperor Wu of the Han Dynasty seems to have used Sang Hongyang's advice to make money in the country..."

Fortunately, Zhu Houzhao had a good history and was especially familiar with Emperor Wu of the Han Dynasty. He quickly had an idea and thought of some of Emperor Wu's money-making moves.

In addition, wasn't the situation of various places minting their own coins created by Liu Bang and Liu Heng in the early Han Dynasty?

The vassal states could mint their own coins, but later Emperor Wu of the Han Dynasty completely unified the money of the Han Dynasty with five baht coins.

What did Emperor Wu of the Han Dynasty do?

Although he understands everything, Zhu Houzhao also has a relatively clear self-understanding when it comes to making money.

He really knew nothing.

Therefore, I should make up for myself.

He only cared about the fruitful results of Emperor Wu of the Han Dynasty's victory over the Xiongnu. He only briefly mentioned how Emperor Wu of the Han Dynasty made money.

Nowadays, we can talk about making money all day long, but it’s still something I’m not good at.

If the group leader doesn't even know this, wouldn't he want these guys to look down on him?

Zhu Houzhao made up his mind to make up the class after the chat.

Now, I still watch silently, remembering some unknown things first.

[Meixuanzong Jackson: How is that possible! I gave them the power to print money, not to issue new currency! 】Jackson still can't accept that he caused this situation. How could it be such a coincidence? It's okay if others cancel, but it's okay if he cancels.

[Mercy Lincoln: Mr. Jackson, don’t you understand the greedy nature of those bankers? As long as they avoid your supervision, the printed paper can be directly exchanged for gold and silver. If this kind of profit of more than 100% or even ten times is placed in front of them, will they miss it? Besides, we didn’t have a relatively powerful regulatory agency at the time, or we do now, so who would supervise them? 】

[ Mercer Lincoln: What do you think will happen when they exchange some paper for real money in the hands of the people, but the people hold the paper but cannot exchange it for real money? 】

Jackson was silent. The example Lincoln mentioned could not be more simple. He did not believe in the future situation, but he knew the greedy human nature of those bankers.

[American Taizu Washington: This... is too terrible! Don't those bankers have to do nothing but print money, so they can seize the wealth from the people at no cost? Hamilton and the others are so prescient! 】

Washington also understood, and suddenly understood Hamilton's good intentions.

The importance of a stable monetary policy to the country.

[Meliezu Louis XVI: Wait... banks only need to print money to seize the wealth from the people. We currently owe so much money, it seems that we can use this method? 】

Louis XVI seemed to have discovered an unimagined way to quell the domestic conflict over lack of money.

[Mercier Lincoln: Your Majesty Louis XVI, please speed up...]

Lincoln was speechless and couldn't help but read his speech. He clearly said so many bad things. How did the brilliant Louis XVI come up with the idea that printing money can solve the problem of lack of money?

[Supreme Group Leader: Printing money wantonly is probably not advisable. At that time, money will become useless paper, and everyone will still have to use gold and silver in the end. 】

To be honest, Zhu Houzhao also came up with the idea of ​​printing treasure banknotes to make money just now. After all, his great ideas, the little prince of Tatar and Mongolia all need money and food support.

But then he realized that Zhu Yuanzhang and Zhu Di had done such unworthy things.

The treasure eventually turned into blank paper.

Now if the public, no, the officials hear that he is printing money, they must all be suspicious.

The credibility of their Ming royal family seems to have been completely exhausted by Taizu Taizong and the others.

This may be the issue of royal credibility that Washington spoke of.

It seems that Ming Dynasty will no longer be able to use a pile of waste paper to defraud money from the people?

Referring to what had happened in the Ming Dynasty, Zhu Houzhao felt vaguely enlightened and seemed to have a little enlightenment about simple economics.

[Meshizu Lincoln: What the group leader said is correct! If you print too much money, it becomes useless paper. By then... when we are doing business, should we imitate those merchants in the Middle Ages who carried a lot of gold and silver with them? 】

Zhu Houzhao's speech was recognized by Lincoln.

[Mercy Lincoln: But, Mr. Jackson, you don't have to feel depressed about this. I feel that your move to abolish the Second Bank has unintentionally led our country into a trap. Without this lesson, our understanding of the economy would not be so profound. From this aspect, you can be considered meritorious. 】

The topic came back again, feeling that Jackson might be a little depressed, and Lincoln tried to comfort him from another angle.

[Mercy Lincoln: From another perspective, a country is also a person. Sometimes, the scars caused by some mistakes can make us grow and mature more. We are still a young country, and it is normal to make some mistakes. 】

[Meixuanzong Jackson: Growth? Then why should I and the general public bear the price of growth? 】

Lincoln's metaphor made Jackson unable to accept it. The price of growing up was so frivolous that the co-author's failure must fall on him.

[American Xuanzong Jackson: Similarly, if this kind of thing that can be avoided in the past can make the country grow, then how will the civil war that occurred during your tenure make us grow in the United States? 】

[Meixuanzong Jackson: My story ends here. Lincoln, tell me about you... I feel like I've met you before. Tell me what happened next, so that we had a civil war? 】

Jackson seemed to be really unhappy for no reason, and suddenly changed the subject.

(End of this chapter)