See Conquest of the World Chapter 46: Currency Wars (22)

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"Go, go, what's kidding. [n look-]" Fu Bao said dissatisfiedly, "Your Majesty is busy now, it is said that the mood is not too good, so he has no time to take care of these things, besides, what do you want me to say?" ”

"Your Majesty is busy, it's just because state affairs are not going well." Qiu'er said, "Now that the overall situation is like this, the state affairs are so difficult, princess, you are the royal sister, and now you are also the general who commands the army, so it is natural for you to share your majesty's worries." ”

"Of course." Fu Bao nodded.

"So." Qiu'er said proudly, "Military merit is a direct solution to worries, but it is a symptom but not a cure, and now the princess can follow the example of Wang Zhaojun of the Han people, and marry Duan Ye in person, she will be able to solve the worries of the monarch and the country...... Princess, spare your life, spare your life, hahahahaha. ”

It turned out that Fu Bao saw that Qiu'er was talking more and more, afraid that she would say something else, and she was also a little shy and unbearable, so she simply squeaked, anyway, Qiu'er was very afraid of itching, so she couldn't stop laughing directly, of course, she didn't have the time to continue.

The two beauties were thick together, and the coquettish laughter made them seem to forget their troubles for a while.

……

As for Duan Ye, regarding the layout of the exchange, it has actually been going on for a while, and now the prices of various commodities are continuing to rise, and the market is still in a state of boiling, so I don't have to worry about this matter for the time being.

Because Duan Ye now needs to do another bigger thing, this matter is even more important than promoting commodity exchanges.

Bulk transactions, in fact, are just to activate the market, re-dispatch resources by the way, and by the way to find a new way to make money for Liangzhou, but also for many things in the future. Cui Hao, Liu Muzhi and others, who know the inside story, of course, all admire this five-body throw.

But in Duan Ye's view, these are just drizzle.

The next step that Duan Ye is preparing to do is the monetary system.

The so-called currency, in layman's terms, is money, but according to Duan Ye's memory, if it is strictly expressed, money refers to commodities that are separated from each other and act as general equivalents. After all, in this era, although there are various immatures, in fact, Duan Ye still thinks that this is a commodity society. Since it is a commodity society, this currency has to play a very important role.

As a product of the development of commodity exchange to a certain stage, the essence of money is the general equivalent, and in the current society, money has the functions of value scale, means of circulation, means of payment, and means of storage.

Historically, there have been different commodity exchanges that have served as money, of course, at the earliest time, in fact, there was no concept of money, and the history of human beings using money first came from the era of barter. Because at that time, people could often only rely on hunting or rough processing to obtain some materials, but it was likely that they could not get what they really needed, and in this way, exchange was generated. For example, a sheep for a stone axe, and a cow for two sheep.

But this is problematic, because sometimes, if there is a difference in value between the goods that you want to exchange, then the exchange is likely not to happen. For example, if you want to exchange a sheep for a hide, how do you exchange it? There is no way to change it, because the value of the players on both sides is different.

Further, sometimes, this kind of exchange is affected by the kind of goods used for exchange, and it is not a question of how to exchange and how much each other, but so that the transaction cannot be reached at all, so in this case, human beings have to look for an item that can be acceptable to both parties of the exchange. This kind of item is the original currency. For example, livestock, salt, rare shells, rare bird feathers, precious stones, sand gold, stones, and other items that are not easy to obtain in large quantities have all been used as currency. Including in the era in which Duan Ye is now, cloth is still in use, and it is a very important currency. And then there are knives, cattle and sheep, all of which have been used as currency, and the main currency at present is naturally copper money. And later Duan Ye also knew that even iron money had appeared.

Later, monetary commodities gradually transitioned to precious metals such as gold and silver. It is only with the development of commodity production and the expansion of exchange, the supply of gold and silver is increasingly unable to meet the growing demand for money, and substitute money and credit money gradually appear to make up for the lack of means of circulation.

After years of natural obsolescence, in most societies, the items used as money are gradually replaced by metals. The advantage of using metal money is that it requires labor to make and cannot be obtained in large quantities from nature, while it is also easy to store. Scarce quantities of gold, silver, and smelt-difficult copper gradually became the main monetary metals. Some countries and regions, including China, have used iron currency.

Early metal coins were lumpy and needed to be tested for fineness with a touchstone and weighed. With the development of mankind, a more complex and advanced monetary system was gradually established. The people of ancient Greece, Rome and Persia minted coins of uniform weight and color. In this way, when using currency, there is no need to weigh the weight or test the fineness, which is undoubtedly much more convenient. These coins bear the head of a king or emperor, intricate coats of arms and seals to avoid counterfeiting. In the country, copper coins are generally engraved with the year name of the dynasty at that time, such as five-baht coins, all kinds of Tongbao money, and there are relevant year names on them. Metal currency, of course, has many advantages, but the biggest disadvantage is that it is too heavy and inconvenient to carry.

In the end, paper money finally appeared, and in the era in which Duan Ye lived, there was basically no metal currency except for steel hammers, and everyone used paper money.

In fact, what Duan Ye wants to do now is to implement the paper money system!

Paper money, as the name suggests, of course, refers to the currency made of paper, and the biggest difference between this currency and the inherent currency of the past is that whether it is gold and silver, shells, or even copper and iron, they all have actual value, and they themselves are commodities, which can be exchanged and bought and sold. For example, if you have ten taels of silver, that is ten taels of silver, and everywhere you go is ten taels of silver, and what you sell in exchange for it must be exchanged for ten taels of silver, which itself is valuable.

But paper money is different, printed banknotes, such as the face value of a hundred taels of silver, the value of paper, printing, etc., is absolutely not worth a hundred taels of silver, not even a fraction of it.

At this time, the value of the note is imposed by the issuer of the currency, using his power. In other words, if Duan Ye issued banknotes, then he would use his identity as the Liangzhou Thorn Shi to enforce the value of the banknotes, and he said that the banknotes could buy something equivalent to the denomination printed on the banknotes! If anyone does not admit it, for example, the merchant does not accept it, or the trader does not let it, then the government will intervene.

From this point of view, paper money is money, which can directly perform all the functions of money. The reason why the government is willing to issue banknotes is because the production cost of banknotes is low, it is easier to keep, carry and transport, and it avoids the wear and tear of coinage in circulation. What's more, there is another significant benefit of paper money, which is seigniorage.

Full-value currencies, such as gold coins, contain metals that are roughly equivalent in value to the face value of coins. Again, so many metals are worth so much money, for example, if gold is used as currency, then under the gold standard, gold can be sent to the mint to be minted at will, and only a small bundle fee is required for this privilege, which is not even a seigniorage.

In contrast, paper money is very different. The cost of banknotes is much smaller than their face value. Then there is a problem here, for example, the government prints a banknote, which only needs to spend a small amount of money, but this banknote is likely to have a large denomination, and you can buy something far higher than the value of the printing cost, and the extra part, this money has not disappeared, but has been taken away by the government.

In fact, Duan Ye wants to engage in paper money, and he also has this idea, for example, now with copper coins as the main currency, Duan Ye's printed banknotes, maybe a piece of paper can print a face value of a thousand copper coins, but only need to spend a copper coin to print, and the extra part is the income of the government.

Therefore, only when the government has the right to print banknotes, opening a government will make more money than opening a company, such a good thing, of course, Duan Ye will not let go.

It is precisely because of the various benefits of paper money that in the era of Duan Ye, paper money became a common form of currency used by all countries in the world in that era, and the earliest paper money in the world was the "Jiaozi" of Chengdu, Sichuan during the Northern Song Dynasty. China was the first country in the world to use paper money.

Now, Duan Ye wants to go further and add to the historical process, after all, this matter is not very difficult, mainly because ordinary people can't think of it.

But in this land, the implementation of paper money, especially in the country where technology is underdeveloped and not advanced, there is a big trouble in the implementation of paper money, that is, the people are not stupid.

Of course, they know how much the paper is worth. If you want them to spend this money worth one copper plate as if it were a thousand copper plates, that will not do.

Even if the government forces them to spend like this, they will listen at first, and later they will definitely think about the interests and quickly spend the money, or exchange it for real goods. Even if it is a discount, he is willing to spend it, such as a banknote worth a thousand faces, maybe five or six hundred.

In this case, it will inevitably lead to a rapid and massive depreciation of paper money, resulting in inflation, and the failure of the monetary system.

Of course, Duan Ye can't allow such a thing to happen, so in this case, there is no point in engaging in a monetary system.

The solution is not impossible, and that is to be well prepared. For example, each banknote is prepared with a corresponding precious metal.

This is also the reason why Duan Ye is now going around the world to find gold, even if he has found a gold mine, this matter still has to continue.

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