After hearing the emperor's inquiry, Wang Dejin, Wan Hongsheng, Luo Yagu and other academicians of mathematics and physics glanced at each other, Wan Hongsheng stood up as a representative and saluted Chongzhen and replied: "Back to Your Majesty, the commercial data of various places transferred by the Ministry of Household Affairs are quite incomplete, and the information of Gyeonggi is the most detailed, and the Jiangnan region is second, and other regions are even more chaotic.

If you want to calculate the exact amount of money you put in the currency, you have to get the details of the scale of trade and the speed of currency circulation in each place..."

Zhu Youzhen interrupted him and said, "The surveys you mentioned can be slowly supplemented in the future, but I now need a number as a reference, as a judgment on the number of currencies issued, have you calculated such a number?" ”

Wan Hongsheng subconsciously looked back at his colleagues, and saw that they nodded to him, before he turned back to Chongzhen and replied cautiously: "Back to Your Majesty, according to the available information, after a rough calculation, we believe that the issuance of Ming currency should not be exceeded

Our basis is that, according to various data, the scale of domestic trade in the Ming Dynasty is about 250 million taels of grain, 36 million taels of raw silk, 36 million taels of silk, 3.5 million taels of cotton, 24 million taels of cotton cloth, 4.5 million taels of tea, 1.5 million taels of porcelain, 75 million taels of timber and bamboo products, 600,000 taels of coal, and 1.2 million taels of steel.

The above total of 432.3 million taels, plus other sporadic trade estimates of more than 110 million taels, we believe that the scale of domestic trade in Daming in a year is about 550 million taels.

The rate of money circulation in the north is about 3-5 times a year, and in the south it is about 6 times a year. Therefore, after deliberation, we decided that it was appropriate to invest money in the range of 110 million taels to 120 million taels.

In addition, we would like to draw your Majesty's attention to the fact that, according to some data we have extrapolated from the customs and the Central Bank, the annual inflow of silver from overseas into the country should be between 3 million and 5 million taels, and this year's silver inflow is even as high as 15 million taels. If this silver appears on the market, it will squeeze out a portion of the currency. ”

After listening carefully to Wan Hongsheng's report, Zhu Youzhen thought carefully for a long time. The principal of the three major banks is less than 30 million taels, and even if Bank of Shanxi increases its share capital now, the total amount will not exceed 35 million taels.

They are now proposing to issue banknotes three times the principal, and the total amount of banknotes is just over 100 million taels, which is still below the appropriate value of 110 million taels.

Acceding to their demands seems to have little risk, and can also promote the circulation of paper money in the market instead of gold and silver. In order to drive gold and silver out of the circulating market, in addition to the stable value of the currency, there needs to be enough money to replace the market trading demand after the absence of gold and silver. So it looks like it's a happy one.

However, Zhu Youzhen thought about it a little more, he felt that these businessmen were all chasing interests, and there was no reason why they suddenly became so loyal and patriotic.

What do they do with the extra banknotes? It's impossible to watch it at home. What if they take paper money and buy supplies in the market and hoard them? Or what if you take paper money and lend it to merchants?

After thinking about it for a while, Zhu Youzhen was suddenly a little frightened and shocked. Now there is a set of gold, silver and copper monetary system in the market itself, and the previous 1:1 issuance of paper money is just to replace the use of silver in the market with paper money, so it will not cause much volatility in the market.

But if you play the trick of issuing additional banknotes, it is equivalent to printing a large amount of white notes to rob the market, such behavior Taizu and Yongle Emperor have done, although they themselves are happy, but they have left treasure banknotes this worthless waste paper, and the bankruptcy of the court's credit.

If the additional banknotes only circulate in the circulation market, then they will not create any wealth for the country except to raise prices, which is obviously not the purpose of Zhu Youzhen's issuance of banknotes.

Only by allowing the additional banknotes to enter the production process can the working capital be replenished for the industry born in the early Ming Dynasty, so as to obtain the growth of wealth. In this way, the country's economy will expand rapidly, absorbing more unsecured banknotes, and eventually turning what is now a voucher into a real credit currency.

The emergence of credit currency will show that the Ming Dynasty has begun to enter the capitalist society and become a modern country, which is the result that Zhu Youzhen hopes to see.

After thinking for a long time, Chongzhen called Wang Chengen to his side, and he motioned for the crowd around him to withdraw first, and he wanted to explain something to Wang Chengen.

After watching the others exit the room, Zhu Youzhen turned his head to look at Wang Chengen and said in a serious and low voice: "You go to the Household Finance Venue of the Ten Princes' Mansion now, I want you to inform them of two things." 1. The banks requested the issuance of banknotes at three times the amount of their principal, and I granted.

2. However, I do not approve of the way they propose to issue banknotes. We have made the following requirements to the three major banks, and each bank applies for the issuance of banknotes with a principal amount, and we do not interfere with the use of these banknotes.

However, the Ministry of Household has the right to supervise the use of banknotes in excess of the principal amount. The amount of banknotes issued in excess of the principal amount shall be applied for by the bank and approved by the Ministry of Accounts before it can be used.

These funds may not be directly put into circulation, nor may they be used to lend to others for hoarding. If discovered, the bank will take back the bank's authority to issue additional banknotes. In addition to recovering the loan and confiscating the illegal gains, a fine of 1-3 times the amount of the illegal profit is imposed on the businessman who uses the funds for illegal gains.

The other two-thirds can only be used to purchase imperial government bonds. Of course, banks can also take the power to waive this part of the issuance of additional banknotes..."

The place where the headquarters of the Royal Academy of Sciences is located was originally the place where the Beijing Teaching Department was located. Because after Chongzhen ascended the throne, he ordered that no entertainment venues should exist within one mile of the school, and no special entertainment venues should exist within three miles. Therefore, the fireworks and willow lanes opposite Guozijian had to make a major retreat.

In fact, the entertainment industry in Beijing has taken a considerable hit this year. On the one hand, Chongzhen ordered the Criminal Department to restrict special entertainment and cancel male sex services such as Xianggu, which greatly reduced the entertainment items in special entertainment venues.

On the other hand, Chongzhen's disgust with the industry, especially the relationship between men and women, has been widely circulated in Beijing. Whether it is the nobles who like the Fengyue place, or the scholars who want to be merry and famous, in order not to be disgusted by the emperor, they have begun to consciously stay away from the Fengyue Field in the capital.

In the past, the famous prostitutes in the capital who drove and rode to greet them day and night are now either boring to study in the boudoir, or simply go south to Jinling and go to the Qinhuai River for ten miles to see the customs of the south of the Yangtze River.

In this way, the atmosphere in the capital has been greatly improved, especially the students of Yenching University, after they could not be decadent in the fat powder song and dance of the Qinlou Chu Pavilion, but gradually came out with a somewhat robust and simple appearance.

And the Royal Academy of Sciences, which occupies the treasure of the Workshop Division, has not greatly changed the appearance of this place. It was just that the Department of Teaching and Workshop communicated with several adjacent houses.

Although physics requires the use of machinery, and geology requires the stacking of ore specimens, the history of the house has a long history, and not only have many famous officials visited this place, but even the layout of the terraced courtyard here is excellent.

Xu Guangqi and the others were not Chongzhen after all, and they couldn't bear to do this kind of thing of burning the qin and cooking cranes, plus the physical and geological machinery and specimens could be placed in the vast local branches, so in the end they didn't make a big deal about this place. However, this greatly excites the researchers who have moved in, and they think that the elegant environment is suitable for them to think about boring mathematical problems.

Next door to the flower hall where Chongzhen talked with Wang Chengen, Xu Guangqi was explaining to Xu Hongzu, Gu Rouqian, and Peng Tianxi what to pay attention to when meeting with the emperor.

Xu Hongzu, the word Zhenzhi, the number Xiake, the south of Jiangyin. Gu Rouqian is a native of Wuxi, Jiangsu. Peng Tianxi's word Meiquan, a native of Nanzhili.

Xu Hongzu's family was originally a wealthy man in Jiangyin, but in his generation, he had fallen into the middle of the family. However, with the cotton textile workshop run by his parents, the family business has been revitalized and maintained the level of a wealthy family in Jiangnan.

His father, Xu Youmian, did not want to be an official in his life, nor did he want to associate with the powerful, and liked to visit everywhere to enjoy the landscape. Xu Xiake was also influenced by his father, well-read, especially fond of the map of the earth, and when he was a teenager, he set up a travel ambition of "the big husband should be facing the blue sea and the twilight".

Xu Hongzu did not participate in the imperial examination after failing the Tongzi examination at the age of fifteen, and his father did not force him, but encouraged him to read more. After his father's death, with his mother's permission, he began to travel officially at the age of 22, and began to do purposeful travel after the age of 28.

Before he went to Beijing, he had just visited Zhejiang, Fujian, Huangshan and other places, and when he returned home, he received a letter from Zhang Xie, in which Zhang Xie said that he had accepted the emperor's letter of appointment and accepted the post of principal of the Naval Military Academy, and he hoped that Xu Hongzu would go to Beijing to serve as a professor of geography and geology at the Naval Military Academy, teaching these naval cadets how to distinguish the basic geological conditions.

Xu Hongzu originally did not want to accept Zhang Xie's invitation, and at the age of 42, he had no interest in fame for a long time, and he was not willing to be bound by a position that hindered his travel plans.

But soon he changed his mind and accepted Zhang Xie's invitation to go north. First, he wanted to take the opportunity to explore the scenery and geography of the Northland; Second, after the reform of the post station, he wanted to borrow the horse license issued by the acquaintance official for free travel plan.

Although he could get money from his mother, Xu Hongzu still felt a little ashamed, and he planned to find an opportunity to go north first, mix in the capital for a few months, and then continue his travel plan.

The three generations of Gu Rouqian are well versed in the study of public opinion, and the study of historical geography and military geography can be described as knowledgeable, so he was also invited to the capital by Zhang Xie.

As for Peng Tianxi, although he is just a showman, he is not good at classics, he is good at reading idle books, and he is also a treasure for the geography of mountains and rivers. However, he was born in a poor family, not a famous family like Xu Hongzu, so he just relied on his ability to play and be a character among the gentlemen.

Originally, people like him would not be looked at by Zhang Xie, but he was very good with Liu Jingting when he was in Jiangnan, and the two often got together and lamented that they had a situation that they did not encounter. After Liu Jingting was valued by Chongzhen, he took the opportunity to recommend him.