The Rise of Ming Dynasty 1646

Chapter 793 Currency Reform

The wealthy businessmen in the hall hurriedly stood up and bowed to salute, "The villain pays his respects to General Ying."

"Haha, no courtesy, no courtesy." Ying Tianxiang smiled and helped everyone, "Ah, shopkeeper Zhao, shopkeeper Sun, Li Xiaolian, I haven't seen you for a while... Sit down and talk."

After everyone was seated again, Ying Tianxiang said again: "It's extremely difficult to get everyone from your sect together, but today I have something good to tell you about Brother Qiao's wedding banquet."

His words couldn't help but make the wealthy businessmen feel tense. Could it be that the imperial court wants to send donations?Han Xing Dynasty did not have this practice in the past...

Shopkeeper Zhao from Shaozhou brazenly cupped his hands and said, "Master Ying, I know that the imperial court wants to use troops against Mobei. There must be no ambiguity about beating the Tartars, just tell me how much you want!"

The others immediately nodded in agreement when they heard the words, "Yes, my lord, please speak frankly."

"Contributing to the imperial court, my Zhang family is not stingy!"

Zhu Linmi led the army to defeat the Jianlu and Tatars, and established a series of achievements such as the establishment of the Liaodong Chief Envoy, which made the morale of the whole country high and the situation of united hearts can be seen from this.

"Everyone misunderstood." Ying Tianxiang smiled hurriedly and waved his hands, "Not only do you not want you to give out money, but there is a good deal for everyone."

All the merchants looked at each other in blank dismay, and someone asked cautiously: "I don't know what Mr. Ying said?"

"Ah, that's right." Ying Tianxiang said, "In order to resist the captives, the imperial court issued a large amount of precious banknotes as payment for goods or officials' salaries. The imperial court thought that because too many precious banknotes were issued indiscriminately, it became useless. Paper is worthless, and those who received the precious banknotes at the beginning were bound to suffer a huge loss. Now that the household department has been filled, the imperial court intends to use cash to recover these precious banknotes."

He glanced at everyone's reaction and continued: "Ah, of course, it is difficult to redeem the full amount. The imperial court intends to use one tael of silver to buy back the 40 tael banknotes, so as to make up for the losses of the people."

All the wealthy businessmen in the room bowed their heads and thought about it.After a while, shopkeeper Zhao came to his senses first, his eyes sparkled with excitement, and he asked, "Master Ying, but no matter how many treasures there are, the imperial court will take them all back at this price?"

"Yes, no matter how much it is, the Ministry of Households will release the silver when it sees the banknotes."

Shopkeeper Zhao immediately said: "Thank you, Mr. Ying, Mr. Zhao will first order the amount of 500 million tael banknotes, and if there are more in the future, we will continue to send them over!"

Others also recalled at this time, this business is profitable!

What is a treasure note?It's just waste paper, not to mention 40 taels for one tael of cash, even if a hundred taels of treasure bills are exchanged for one tael of silver, it's still scrambling to exchange them.I can take it in at a low price, and then sell it to the household department for 40 taels, and I can make a lot of money by handing it over!
Some people were not at ease, and tentatively said: "Master Ying, it's not like we brought the treasure banknotes, but the court is trying to evade all kinds of excuses?"

"Don't worry," Ying Tianxiang took out a court document with a seal, "Within this year, you can exchange it when you arrive."

When everyone read the official document, they immediately became happy again, and they all said that they would send treasure notes later.

Ying Tianxiang said sternly again: "By the way, this matter is due to special reasons, but it cannot be made public. Even close relatives of your family must not disclose it, otherwise the imperial court will immediately stop cashing. When looking for a reason, never mention the imperial court."

The merchants hurriedly nodded and said: "Yes, yes, the villain will remember."

"Never dare to reveal half a point."

"Please rest assured, my lord."

Entering June, two things are hotly discussed in various places in Ming Dynasty.

One is that the imperial court opened a new thing called a "bank", in which anyone can deposit money, not only does not charge storage fees like other banks, but also pays interest on a monthly basis!

This is simply equivalent to the fact that silver can beget silver!
At first, the people didn't quite believe it, and they all kept a wait-and-see attitude.Only a few people whose family's wealth does not depend on that little money took out one or two five yuan and deposited it in, in exchange for a "deposit certificate".

After staying for a month, these crab eaters took the certificate of deposit to withdraw the silver, and they got back the principal and interest smoothly.Although there is only a profit of five cents, who is too little for nothing?

So people became bolder and began to save in twos and fives. Some small and courageous families also tried to save a dozen or so.

Another strange thing is that people all over the country collect treasure notes!
In the beginning, 200 taels of banknotes were accepted for one tael of silver, but then they rose all the way, and finally stabilized at 60 taels of silver for one tael of silver.

Although I don't know why these people collect these waste papers, no one will refuse to exchange waste paper for silver.

In just over two months, more than 700 million taels of treasure banknotes were successively sent to the places designated by Ying Tianxiang, and the eighteen rich merchants also successfully brought back more than 90 taels of cash.

It was the autumnal equinox that year.

A total of 50 banks in all parts of Ming Dynasty are full of customers, because each bank has never been in arrears in payment-according to the rules, it can be taken within the same day within ten taels. [-] taels within three days are available.Ten days within a thousand taels is acceptable.

Coupled with the Ministry of Households as a guarantee, the bank has established a good reputation in the hearts of the people, and some people even came from hundreds of miles away to save money.There is an endless stream of silver carts going to and from the banks every day, which in turn promotes the construction of wooden tracks between major towns. After all, this thing transports money quickly and safely.

At the same time, the bank began to lend small amounts to the outside world, but for the time being, it only targeted industries under the names of the Ministry of Industry and Commerce, such as the Ordnance Bureau, Wooden Track Bureau, and shipyards.

The price of treasure banknotes is also constantly increasing. Some people in the Jiangnan area have already offered one tael of silver for 48 taels of banknotes.

Nanjing.

Forbidden City, Qianqing Palace.

"Your Majesty," Zhang Canghai, Minister of the Ministry of Household Affairs, reported with a list in hand, "For the past half month, only four or five hundred taels of treasure bills have been delivered every day, and the number is still decreasing. The banknotes should have been collected almost."

Zhu Linming asked: "How many treasures have been collected in total?"

"Return to Your Majesty, a total of 330 million taels. The household department paid a total of 1508 million taels of cash."

Zhu Linmei nodded. According to the information left by the Ministry of Household Affairs, before the Zhengde Dynasty, the imperial court issued a total of 500 million taels of treasure banknotes. After that, from the Chongzhen Dynasty to the Longwu Dynasty, they all issued treasure banknotes indiscriminately. More than 6000 million taels!
"It's worth spending 150 million taels to buy back the reputation of the imperial court. And the money will be recovered soon." Zhu Linmi smiled and said, "I have to thank Jianlu, if they didn't stay in Shenyang For the more than 500 million taels, the recycling of banknotes and the construction of the bank may take another two years to start.”

He looked at Zhang Canghai, "Zhang Butang, how is the matter I asked you to prepare new banknotes?"

"Return to Your Majesty, a total of 300 million taels are ready."

"Okay, on the third day of October, the new treasure banknotes will be officially released across the country." Zhu Lin said, "Every link will be carried out according to my instructions in advance, so I'm going to have to worry about it."

"The minister leads the decree, and he will live up to the holy hope!"

(End of this chapter)