After talking about the budget, Xu Pingcai said: "For the tricky things faced by the three divisions today, the first thing is that the ticket on Jingxi Road cannot be paid. The pen "Fun" Pavilion www.biquge.info how to solve this matter, the court has discussed it several times, but it has not been decided. According to what was said before, one is to issue shopping coupons by the three divisions of shops after stabilizing the price of silk, and offset the tickets on Jingxi Road, and the other is to use the money bank to collect money from the people to the hands of the imperial court. Both approaches make sense and both have shortcomings, and at this point, it's best to combine both. ”

At this time, the "Rich Country and the People's Policy" has already reached the imperial court, and most of the people sitting in the hall have already seen it, and the two Zai are from Jingxi Road, and they are no strangers to the new policy. How Xu Ping will reform after he arrives at the Third Division, everyone basically knows in their hearts, and no one feels that what Xu Ping said is strange.

Chen Zhizhong, who has been promoted to the governor of political affairs, said: "Advice, how legal is unity, you still have to make it clear in one go." Speaking of money and food, everyone is familiar with it, but how to do it on Jingxi Road last year, many of you have no clue. After you finish talking about things, everyone will refer to it in detail, whether it is feasible or not. ”

Xu Ping nodded, stood up, and saluted Zhao Zhen: "The reason why I had to set the budget for next year was related to what I had to do later. From a few years ago, the three divisions of the shop printed shopping coupons to supplement the shortage of copper coins, and later Ruzhou made small iron coins, a few years of trial, both official and private. Last year, a money bank was set up on Jingxi Road, which at first only collected private copper coins for transactions that required large amounts of copper coins, and later issued loans to the newly established branch offices to collect interest. All these measures are taken together, and I have taken a name, which is called the bank. Silver is naturally the meaning of silver money, and the meaning of taking the world's coins. ”

Seeing that everyone was listening carefully and no one interjected, Xu Ping said again: "Last year, in Jingxi Road, cotton alone, cotton cloth, cotton wool, cotton oil, etc., were added up, about tens of millions. Is it much? Actually, it's not much, it's just a few states along the way. In the future, cotton will naturally be pushed to the whole country, and hundreds of millions of dollars a year will be commonplace, but there will be less linen. After this industry is started, there is a difficulty, that is, there is not so much money in the world to buy and sell. Now the problem of flying tickets, in the final analysis, is still a lack of money, so they have to hang there and not redeem. In the world's trade, as the saying goes, one hand pays money and one hand delivers, and how many transactions there are in the people should have how much money is used, which is the original intention of the country to mint money. ”

Chen Yaozuo nodded: "What you said is good, but how much money is needed in the world now, how much money is actually in use, how many gaps are there, do you have an approximate figure?" ”

Xu Ping said: "Back to Xianggong, there are still rough numbers. The amount of money used for trade in the private sector is about fifty or sixty million yuan, and when there is still money similar to this that is hidden by the people, it is not used. Since last year, the cotton cloth on Jingxi Road has been trafficked everywhere, and the ticket has been left on Jingxi Road, but the cotton cloth has been transported to other places to be sold. Because the price of silk is unstable, silk silk is no longer used in private trade, and there are so many cotton cloths to sell, so naturally there is a shortage of copper money. According to the official documents received by the three divisions, Kaifeng Mansion on Jingdong Road, as well as Lianghuai Jinghu Road, there are expensive and cheap goods, which is actually not enough money from the people. Some people have always wondered that Jingxi Road said that it was overcharged so much money and food, why there were only flying tickets, where did the money go, and it actually went to these places. It's just that there is a process of trade and the circulation of copper coins, and it has not yet been revealed. ”

Li Di asked: "How much copper money is lacking among the people, is there an approximate number?" ”

"Back to Xianggong, this number is not easy to say now. The goods spring, its hidden spring, its flow is called cloth, not to mention how much is hidden and how much is in use, that is, the money in circulation, and the speed of flow is also different. The same consistent money, which is used ten times a year, is used once a year, and the effect is very different, and the consistent money used ten times is actually the same as the ten times used only once, and the use of ten times is actually the same in trade. Normally, when money is used several times a year, there should be a roughly fixed amount. But now, it's not the right time to say normal. ”

The demand for money is not only related to the amount of issuance, but also to the speed of circulation, the faster the circulation, the less money is actually needed, and the more developed the business. When the economy is stable, these figures should be roughly determined. But now is the time of drastic changes in the economy, which can be said to change day by day, and Xu Ping can't say the approximate number.

Seeing that everyone no longer asked questions, Xu Ping said again: "But one thing can be determined today, that is, the people are short of money to use, and the most obvious amount is the unpaid ticket on Jingxi Road." This money is to be used for private trade, but if it is not, it will become an empty account and hang here. The account is hung in the third division, but there are a few ways to sell cotton cloth, but there are many goods and expensive money, and they are beginning to lack money. It is important to know that there is more money in the world, and prices are soaring, which is harmful, and if there is less money, there is no communication between the people, and there is no exchange, which is also harmful. What I'm talking about now about being a bank is to make up for the lack of money and let trade pass. If the people have more money, there are ways to recover the excess money and stabilize prices. ”

"Specifically, the smelting and casting division under the three divisions came out separately and focused on minting money. What should I do if there is not enough copper produced in the world? I've tried a little iron money, but it's only a small supplement, so I still have to think of other ways. According to the experience of Sanji Shop Shopping Coupon and Nishikawa Jiaozi, you can use money to print. It should be made clear here that the money printed on paper is only to make up for the shortage of copper coins and facilitate transactions in the world, and it is not a treasure in itself, and it is useless if it cannot be traded. ”

From compiling the "Money Law Book" when he was the deputy envoy of salt and iron, printing shopping coupons in the Sansi Shop, to setting up a money village on Jingxi Road, and compiling the "Rich Country and Security Policy", the issue of money has been discussed for several years, and most officials in the capital are no longer strangers to the money law. The use of paper money instead of copper coins has actually been mentioned, but there is no clear theory and system, and it is just not a climate.

Xu Ping's proposal to use paper to print money to supplement the shortage of copper coins is not surprising, many people think so, the key is how to operate. How much to print, how to enter circulation, and how to ensure that it plays a role, this is the difficult part.

As the former envoy of the third division and the financial management minister, Cheng Lin, a bachelor of Hanlin, obviously thought more than others, and asked Xu Ping: "The shopping coupons of the third division shop have been used for several years, which is very convenient and has not had any problems, so it can be seen that it is feasible to use paper money." But this is not Jiaozi, it is impossible to do the same as Jiaozi, you first say a charter for everyone to refer to. ”

The essence of Jiaozi is actually bank bills, which are printed according to the number of copper coins used as the capital, and generally speaking, the capital is 30% of the number printed, which is the experience accumulated over the years.

China's currency is used to meet the needs of trade in the domestic market, and there is no tradition of the gold standard and the silver standard, and there is no need for that. International trade is China's exchange of tea, porcelain, silk and other goods for gold and silver treasures, which has always been a net inflow of gold and silver, and there is no need to accumulate gold and silver imported goods. This is where the Chinese tradition is completely different from that of the European countries in history, where tea and silk can be substituted for gold and silver in the surrounding international trade. Historically, the monetary traditions and experiences of Europe were of no use to ancient China, and China's monetary development was self-contained. Until Xu Ping's previous life, China's monetary policy was actually a different school, and it was not the same as the national monetary policy based on international trade.

If Jiaozi is regarded as paper money, then it is actually the copper coin standard, which is still based on the copper coin currency.

What Xu Ping wants to do is real money, a currency that can adjust the economy, and combine it with the banking system, and the model of Jiaozi certainly does not meet the needs. As for the indiscriminate issuance, it is only related to the political and economic situation, and what kind of currency standard cannot be curbed at the moment when the country is facing life and death. To be truly speaking, the regime is a violent ruling body, and it does not need to issue money indiscriminately to accumulate wealth, but can also use exorbitant taxes and miscellaneous taxes to increase taxes to accumulate wealth. What really needs to be restrained is the government's impulse to excessively expropriate from the people, not monetary policy, and to make a fuss about monetary policy is to put the cart before the horse.

After thinking for a while, Xu Ping said: "In the past, it was copper coins, and it was naturally fine to be minted by the smelting and casting department and money supervisors from all over the country, but if it was to print money on paper, it could not be done like this." How much money is made must be controlled by the imperial court. I think so, the smelting and casting department and the money supervisors in various places are all separated, not a division, and they are promoted by important ministers of the imperial court, and they are in charge of casting money and printing money. All the copper money banknotes are added up and calculated together, and the number comes from these three aspects, you can refer to it in detail. ”

"The first is the copper coins collected from the people, as well as the money stored in the Zuozang Treasury and the treasury of various prefectures and counties. The newly minted copper coin should be different from the old coin, but the weight should be basically the same, so as to ensure that the price of the new coin does not fall. As for the amount of copper coins and paper money in the new money, it will be decided by the new money superintendent. ”

"The second is to include the shopping coupons of the three stores, and the three stores will make as much money as they have the goods. Because the goods will definitely be sold, it will take money, and the goods will be the capital of the new money. ”

"The third is based on the taxes paid by the whole world, and the amount of taxes collected by the three divisions in the previous year -- counting only money, not counting grain -- will be made as much as they are paid. The money produced was lent to the three divisions for one year's use by the state. After the tax revenue comes up, the three divisions will repay the principal and interest. The second year is handled in turn, and so on. That's what it means to make a budget. ”

The first of these three is to replace the old currency with a new monetary system and achieve monetary unification. Because it is a one-to-one replacement, there is nothing to say, and the second item is to issue currency based on the materials in the hands of the state, so as to ensure that the currency sent out will be able to buy the necessary materials. This was the way Xu Ping issued China's currency in his previous life, but it was easy to cause deflation when international trade was small, and when international trade increased sharply, it slowly shifted from goods-based to foreign exchange-based, which was easy to cause inflation. In this day and age, none of this is a problem. The third item is actually a national debt. Treasury bonds are stronger collateral than gold and silver, and the ability of a normal regime to collect taxes is more reassuring than gold and silver with occasional price fluctuations. And there is also the benefit of treasury bonds, which can be used to control the amount of money in circulation, which is a reference to the way the US dollar is issued.

Things in the world are the same, and when it comes to currency, there are actually just a few ways to issue it. The gold and silver standard, on the other hand, was the least practical for ancient China, which aimed to unify the domestic market.