After a conversation, Zhao Yu figured out the currency system, banknote law and circulation of the Yuan Dynasty, and finally had a point in his heart. Although he doesn't know much about the economy, he feels that Kublai Khan is simply joking about the country's economy, and the loopholes are bigger than the Qiongzhou Strait, which is that in ancient times, if it is placed in modern times, the country will go bankrupt in a few minutes.

According to Zhuang Shilin's introduction, the Zhongtong banknotes issued by the Yuan Dynasty today are not limited to time and circulation areas, and now they are being implemented in the south of the Yangtze River, preparing to realize the national integration of the currency. However, he adopted two acceptance exchange rates in the north and south, which is a big problem. It is said that one tael of gold in Jiangnan is equal to ten taels of silver according to the convention, and one tael of gold can be exchanged for thirty-three copper coins in Jiangnan according to its banknote method; But the same tael of gold in Jiangbei can be exchanged for 20 taels of silver, and after returning to Jiangnan, it can be exchanged for 66 copper coins, but the price of gold has doubled once it goes back and forth.

For the Yuan Dynasty's newly established Pingzhun Treasury in the south, to buy one tael of silver, you can only pay two pieces of banknotes according to the provisions of the Zhongtong Banknote Law. However, for the Song people who held silver, the value of a banknote with a denomination of two guan could not exceed that of two copper coins. According to the traditional comparison of one tael of silver to three thousand three hundred wen in the Southern Song Dynasty, if you pay one tael of silver, you should at least exchange it for a banknote with a denomination of three times and three hundred wen; Combined with the Yuan Dynasty government's regulation of the Zhongtong banknote exchange for copper coins, if the price of money is changed to 3,300 Wen to one tael of silver, then the consistent copper money can also be exchanged for 0.6 taels of silver, which is at least equivalent to the consistent 200 Wen of Zhongtong banknotes. Therefore, in the Song Dynasty, the money was exchanged for the Chinese banknotes, and the copper money was too depreciated.

Compared with the two, the long-standing buying and selling price of silver banknotes in the Yuan court was obviously unfair in the eyes of the Song people. Of course, the Song people who held copper coins did not want to exchange money for money directly, but preferred to exchange money for silver, competing to hold and use silver guaranteed by their own metal value, and even preferred to exchange silver for money rather than silver for banknotes. Naturally, it will be difficult for the newly established Pingzhun Treasury of the Yuan Court to redeem the expected silver, but on the contrary, the black market for exchanging silver will be very prosperous, and there is no worry that the silver will not be exchanged.

It is precisely because of the banknote method that the ratio of gold and silver between the north and the south is huge, and the space for making air banknotes is huge, as long as the gold in the south of the Yangtze River is reversed to the north of the Yangtze River for silver, the value of the Jiangnan will be increased several times. Jiangbei due to the stable value of the Zhongtong banknotes, the price is stable and low; However, the stock of Jiangnan Huizi is huge, and the currency value is equivalent to waste paper, and if it is exchanged for physical goods in Jiangbei and then returned to Jiangnan, it can get double the profits, and it will not take long for it to also affect Jiangbei, resulting in depreciation.

Taking a step back, even if it does not dump silver and huizi, Zhongtong banknotes are still in danger of bankruptcy. Because if the people use gold and silver to exchange for Zhongtong banknotes in the Pingzhun Treasury, they can still only exchange them according to the ratio of silver and silver to Zhongtong banknotes; On the contrary, if you use the Zhongtong banknotes to buy silver at the Pingzhun Treasury, you only need to pay two Zhongtong banknotes, and the Pingzhun Treasury should pay one or two silvers. Compared with the two, if the Yuan court insisted on using silver to exchange the Zhongtong banknotes and level the banknote price, the silver in the treasury would be in danger of being exhausted in a few days. In addition, the continued use of silver and copper coins in the fields of value transfer, payment, and storage in the Jiangnan region will inevitably seriously squeeze out the space for the circulation of paper money, and will also directly lead to the depreciation of paper money......

"Master Zhuang, how many meetings do we have in the house?" Zhao Yu asked.

"There is also a million guanzi issued by Jia Xiangshi in the house, and His Royal Highness wants to ......" Zhuang Shilin reported an approximate figure after a little thought, but vaguely thought about what His Highness was going to do, and hesitated and said, "If Your Highness uses Guanzi to exchange counterfeit banknotes, I am afraid that it will cause criticism and damage His Highness's reputation." ”

"Oh, what is the Guanzi issued by Jia Xiang first, it won't be selling Guanzi with this king, right?" Zhao Yu said with a smile, and thinking about it, it is not bad, currency is a symbol of a country, although he took the lead in exchanging it for the benefit of the government, but as a prince, he represents the interests of the country, so it is definitely unreasonable.

"Your Royal Highness, in the tenth year of Xianchun, the Tartar general Boyan invaded the south, and the imperial court ordered Jia Xiang to send troops to resist, and in order to make up for the lack of military expenses, he printed 10 million yuan, and said that he saw Qian Guanzi, that is, the batch of Tartars to exchange this time." Zhuang Shilin replied.

"I see, it's a little less." Zhao Yu whispered with some disappointment.

"Your Highness, there are already a lot, seeing that Qian Guanzi can cash in one tael of silver, which is ten times higher than that of the previous realm." Zhuang Shilin waved his hand.

"Hehe, I'm talking about printing less!" Zhao Yu listened to what he asked, and said with a smile, "Eh, can we print some?" ”

Although Zhao Yu found a loophole in the exchange of Zhongtong banknotes, he still needs to use a large amount of money if he wants to make a profit. Everyone is staring at the money of the General Bureau, and there must be a legitimate reason for mobilizing the funds by themselves, but no one will agree to use it to speculate on the banknotes. And there is still some money in the inner government, and it is also transferred by oneself at will, the problem is less, and there are also risks, once there is a mistake, their own family will be lost.

Therefore, Zhao Hao started to think crookedly, he wanted empty gloves for the white wolf. Of course, it is an exaggeration to say that it is empty-handed, and it costs some paper and ink money to print counterfeit banknotes, pay wages, and always have some issuance fees. But in the end, he only needed to take the printed fake huizi to the Tartar leveling warehouse and exchange it for Zhongtong banknotes, and then take the Zhongtong banknotes to Jiangbei to exchange them for gold, and then transport them back to Jiangnan for two times to make a profit. Even if it is not poured and circulated directly in the market, a few pieces of paper can be exchanged for grain and silk, which is also a good business for a million profits.

In addition, the current coin anti-counterfeiting technology is almost zero, so this threshold is very low, as long as you are brave enough, you can do it. And now the transportation and communication conditions are very poor, even if a large number of counterfeit money is found in one place, it is difficult for all localities to make a rapid response, and when the first-level response reaches the imperial court, and then when it is handed over to the next side for investigation, it has already passed the time, and there are not many opportunities to be caught......

"Your Highness...... This meeting is not something that anyone can print, and the imperial court has to issue an edict, and the society will specially make, print, and distribute it, and our marshal's mansion cannot print it, and the private meeting will be punished by death. Zhuang Shilin was shocked, and he wanted to dispel His Highness's crooked thoughts, but he didn't know how to dissuade him.

"Master Zhuang, your intentions are known to the king, but do you know that the decisive victory is not only a field, but also a war!" Zhao Yu thought for a while and said. He knew that if he didn't find an upright reason to print counterfeit money, not only Zhuang Shilin, but also the people involved in it would think that he was a villain who was 'greedy for money and profit', subverting the glorious image in their minds, not to mention, and making them lose confidence in their 'great cause of recovering the country'.

"What does Your Highness say about this?" Zhuang Shilin didn't expect that the printing of counterfeit money was also linked to the great cause of recovering the country, and asked with some doubts...... (To be continued.) )