Pouring wine for the two, Du Zhongxiao said: "For the imperial court, there are two ways to live within your means, and to use it in a mixed way, which is a common thing in the world. Of course, the court can rule the world, but what about a family? If you want the people to live well, you must let them not only survive, but also have some savings. Only in this way can there be hope that a person lives not just to live. The savings of the people, the savings of all kinds of people, and how the court disposes of them is a major event in the world. Many of the imperial court governance comes from this source. ”

Speaking of this, Du Zhongxiao said to Han Jiang and Wang Anshi: "In a few days, I will leave Jingxi Road and lead the troops to fight." The camp field affairs and Changping Division on Jingxi Road have taken me several years of hard work. I will say more today, and I will make it clear to you, and it will not take me a lot of effort. Zihua took over as the promotion of Changping, and Jiefu also wanted to camp in Shuzhou, and he would raise Changping affairs there, you can refer to it for details. ”

"In the past, money and food were very expensive for the imperial court, as long as they raised enough money, had more than enough soldiers, and there was no shortage of hundreds of officials. From now on, you have seen in Jingxi Road, if the world is implemented, money and food will not be so difficult. Some people may say that if they collect more money, are there still officials who won't spend it? Precisely so, it is much harder to spend money than to collect it. How to spend the money is a university question. ”

Wang Anshi said: "The court spends money and wastes people's strength. Since there is no shortage of use, collect less and scatter more, and let the people be. ”

Du Zhongxiao shook his head: "Let the people? To whom are the people? Do you share the money? This year, next year, there will be resentment. Last year was more, this year is less, isn't it in vain? The wealth of the world may not be counted, but at the end of the year, how much money everyone in the world makes is certain, and if it is not in the government, it is in the people. The number of officials and the number of people is something that the imperial court must consider. How many people are there? More money in hand is not necessarily a good thing. Zi said, do not suffer from widowhood but suffer from inequality, and the court should discuss the unevenness, not obsessed with more and less. ”

Speaking of this, Du Zhongxiao shook his head and said with a smile: "I often hear people say that officials should not compete for profit. What do you call competing with the people? Who are the people mentioned here who can compete with the officials for profit? Can ordinary people compete with the government for profit? It is enough to give them benefits, and it is enough to give them a light gift. The people who can compete with the officials for profit are at least powerful people, can they still be ordinary people? So whoever says this is speaking for the powerful people. ”

Han Jiang said: "It may not be the case, sometimes officials say this for the sake of the people." ”

Du Zhongxiao nodded: "Yes, some officials really think about the people and use this sentence to advise the court." It is naturally right to talk about taxes and miscellaneous donations, but it is wrong to talk about others. It is one thing to admonish Taiwan, and it is another thing for officials to do politics. ”

"I have said so much, but in fact, it is still governance, and the core is how to treat the people's savings. As I have just said about the surplus of the imperial court, it can allow the camp to reclaim the wasteland, build roads and bridges, and many other ways. So what about this savings in the hands of the people? Some people save money to build a house, to marry a woman, to marry a woman. There are also people who do it to prevent disasters, diseases, old age, and so on. But there are still some people who save money just for the sake of saving money, and some people just have too much money to spend and can't spend it all. It is because everyone is different that there is no easy way for the court to govern. ”

Han Jiang said: "Isn't it in the savings bank?" Everybody is like that, and there's nothing. Chang Ping Division uses the cash of the savings house to print money, and the money can always be printed several times, and the court will not lose its capital. ”

Du Zhongxiao said: "How can the account be calculated like this? Now there is a shortage of money in the market, it has become a shortage of money, money is expensive and light, and the people can collect as much money as they print. In the future, the cost is more, the money printed is too much, the money is not scarce, and the money is expensive. The money was kept in his hands, but it was worthless to Chang Pingsi. At that time, there was no interest on the people's savings, it was better to keep the cash in their hands, and the savings would also be withdrawn. It will inevitably appear that money is worthless compared to cash, and everyone wants cash, not money. Chang Pingsi has less capital, less money to print, and no one wants to print money, so in the end it will not be able to do it, and it will not return to the way it used to be? This is called the expulsion of good money by bad money, and it will inevitably happen as long as the imperial court cannot guarantee that the money in the market is of the same value. ”

There are several currencies in the market, the actual value is different from the prescribed price, everyone collects the high value and spends the low value, this kind of thing is unavoidable. The same is true for buying precious metals such as gold for inflation, and the same is true for exchanging local currency for foreign currency, but the estimate of value is different, including actual interest, and also includes the estimate of future appreciation and depreciation.

The initial issuance of money leads to look very good, if the issuance is not controlled and there is no recovery channel, there will be inflation one day. At that time, there were no drastic measures, and even if the money could be cashed out, it could not be controlled.

Du Zhongxiao said: "We won't talk about this today, you will naturally know after you have done it for a long time in the future." The key to talking about today is how to deal with the savings in the hands of the people. As I said earlier, the money that people have saved is better to be able to buy so many things after many years, which is stability. There is no way to achieve long-term stability, and short-term stability must be achieved. ”

Speaking of this, Du Zhongxiao shook his head and said to the two: "It's not easy to be stable." Money is printed, copper coins are minted, and they are used for trading in the market, but they are not exactly what they need in the market. Since stability is not easy, whether the people's savings can be maintained or not has a bearing on the hearts of the people in the world and the control of chaos in the world. Many, many of them were born from this. ”

Speaking of this, Du Zhongxiao was silent for a while and sorted out his thoughts. What I learned before, often talking about the crisis of the capitalist economy? So will there be a crisis in other relations of production? Of course, the same happens, but in a different way. Is it the capitalist system, and the form of crisis is the same every time? Many problems are thought not to happen under capitalism, but the system is not long enough, and it is constantly changing its face and coming up with new interpretations, and it is just taken for granted that it is different. The knowledge learned in the past, no matter what kind of theory, which kind of ism, which kind of thought, which kind of system, was constantly sorted out by the history of Europe with the advent of the industrial era. Is it the truth? Of course not. If it is industrialization carried out by China's history and cultural traditions, of course, it will be a different face, and many ideas, isms, and so on will not appear. And due to the limitations of history, many ideas and theories that did not appear in previous lives will naturally emerge. Taking those as truths and guiding development in this era will of course be out of place and become a joke. However, the development of that era was too fast, and many principles were more common, but it was possible to clear the fog.

The crisis of capitalism is the contradiction between large-scale social production and private property ownership. Apart from capitalism, is there any socialized mass production? China is a unified country, and socialized large-scale production will naturally exist, and the development of industry and commerce will facilitate this process. The crisis is not just about relative overproduction, but also about long-term prosperity without relative overproduction? I don't know how many died in relatively scarce dynasties.

has been in charge of the economy for several years, and Du Zhongxiao has taken it for granted that he has used the theories he has learned before to analyze and explain this era, and the past few years have been in vain. Not only did those theories not guide a thousand years ago, they couldn't even guide that era. The conclusions are unreliable, but the principles and analytical methods are worth learning. It is really useful to analyze the present with the methods of that time and to use the principles to guide the reality.

After drinking a few glasses of wine and clearing his thoughts, Du Zhongxiao said to Han Jiang and Wang Anshi: "The most important thing in government is to find a way to preserve the value of the savings in the hands of the people. The savings bank is a way to make the money stored in the savings bank relatively preservable, which is what Chang Ping Division has to do. The reason why Changping is called Changping is not only to stabilize food prices, but also to stabilize social wealth. As for what the solution, there will be a lot of ways to find in the future, and the simplest is to let the people save money, and at the same time lend the money at a higher interest rate, and subsidize it with interest rate differentials to ensure currency stability. Today those don't say, just the basics. ”

"When people have money in their hands, they have many options other than saving it in a savings bank. In the case of peasants, when they have saved a certain amount of money and have no need to spend it, they can buy land. The advantage of buying land is that the land produces food, no matter what happens in the future, the farm tools are better, and the new seeds produce more, and the same will be true for your own land. In other words, for farmers, the land naturally retains its value. ”

Wang Anshi said: "Although the value of land is maintained, how many people in the world can continue to buy land?" The people live in abundance, or do most people have no land, and the rich and powerful occupy more of them, yes or no? If they can maintain their value, they will not sell it, but will buy more. ”

Du Zhongxiao nodded: "Jiefu is right." The more it retains its value, the more difficult it is to average it. Even if the land is divided equally, it will be quickly annexed, and there is no other means to stop it. What means? Collect the savings, and then put the land ban on buying and selling, otherwise the matter cannot be solved. ”

Speaking of this, Du Zhongxiao looked at the two of them and said: "Assets that maintain value are the most troublesome, and long-term value preservation is extremely troublesome." When there is more money in society, it will concentrate on these places and slowly push up the price. Moreover, this kind of price increase, if the imperial court does not intervene, there may be no upper limit. Why is there no cap? When you buy the land, you will own the rent. As long as the land price does not change, it will not lose money if it is sold in the future. No matter how much the land price rises, as long as the land price does not fall, it does not matter how much the land produces, and it can be turned into money at any time. At this time, the fields were not used to produce food, but to preserve their property. As long as they can be united, the price of land can rise indefinitely. ”

The land price is like this, in fact, the house price is also the same, which is the contradiction of housing not speculation. There is no need to speculate, only to ensure that the price does not fall, and you can ensure that the house price will not turn around. In other words, land prices and housing prices have a financial function, until the land produces how much food it produces, and it doesn't matter whether the house is used for living or not. As long as there is one more that can facilitate the transaction, the turn is completed and the original appearance is changed. And those who don't have it can only end up not being able to afford it. Renting land in an agricultural society and renting a house in an industrial society has gradually become the norm.