The discerning people quickly realized what Yu Xiaotian wanted to do, and thought that it would be a very good opportunity, so they hurriedly sent their children to the newly established Yixue in various places to receive the new education promoted by Yu Xiaotian, so that whoever started quickly would be the most likely to benefit first.

So don't look at the taxes that the Dazhong court can receive every year, far more than the financial revenue of the Ming Dynasty, but with Yu Xiaotian, the king of Yama, who spends money, the household is still pressed to the scalp tight, if it is not for the tight pockets, the financial income received this year is estimated to be not enough for Xiaotian to toss.

In order to save financial waste, Yu Xiaotian withdrew and merged the eight bureaus, four divisions and twelve supervisors who were previously dedicated to serving the royal family, except for the imperial horse supervisor, all of them were abolished, and the War Bureau was assigned to the logistics department under the Ministry of War for management.

The rest of the bureaus and supervisors and other departments that specialized in serving the royal family were all cut off, and the province occupied too much financial expenditure, which was regarded as squeezing out all the things that could be squeezed out, and vigorously started with him, promoting a frugal life, as the emperor did this, and the people below did not dare to spend money lavishly, so these things alone saved a lot of money every year.

Yu Xiaotian vigorously promoted the development of industry and commerce from the time he served as a supervisor of the country, and now after ascending the throne and claiming the establishment of the country, he immediately began to prepare for the establishment of a state-owned bank, transforming the original Maoshengyuan's money bank into a large Chinese state-owned bank, and began to set up a large area of offices throughout the country, becoming the largest bank in the Great China and North Korea, and began to prepare for the implementation of the silver standard monetary system.

At the beginning of the Ming Dynasty, a large number of treasure banknotes were issued, that is, paper money, and also thought of a lot of ways to try to control the depreciation of paper money, but in the end this matter was very rubbish, starting from the court itself, there was no respect for the value of paper money, but the issuance of paper money as a tool to collect money, when the money was issued, but when the tax was collected, the paper money was not collected, so the paper money quickly became waste paper, and many ordinary households who collected paper money went bankrupt.

This also caused the paper money to lose its monetary value quickly after the issuance, becoming a piece of waste paper, and finally because no one was willing to accept these banknotes, the paper money was completely abandoned, and later with the influx of a large amount of silver into the Ming Dynasty, silver became the most hard currency in circulation.

In addition, the history of the Ming Dynasty first implemented paper money, in order to implement paper money to stop minting money, but later paper money because of credit bankruptcy, can only re-implement the coinage, gradually all over the place to flock up, have opened the furnace to mint money, the copper coins minted are also good and bad, the copper content is different, resulting in currency is very chaotic.

With the influx of silver, so gradually the market began to treat silver as a circulating currency, and the people precipitated a large number of silver, which is not a good thing for the country, and the circulation of silver is also quite troublesome, first of all, the fineness of silver is different, the weight is also different, when paying in small amounts, large pieces of silver are not easy to pay, and the weight of silver to be cut into small pieces is different, which leads to inconvenient transactions.

With the establishment of the Great China Dynasty and the vigorous promotion of industrial and commercial development, there will be more and more social transactions, and it is obviously inappropriate to continue to use the copper coins and scattered silver taels of the Ming Dynasty as currency.

Moreover, paper money is a development direction in the future, and currency paper-monetization is also a trend, which has many advantages, so Yu Xiaotian decided to establish a large Chinese state-owned bank, unified under the management of the Ministry of Households, and issue new currency in the country.

Of course, the direct issuance of paper money will definitely not attract people, and it will not even be implemented if it is not good, so the first step is not to issue paper money, but decided to issue silver coins and copper coins first, before issuing new silver coins and copper coins, Yu Xiaotian also ordered all localities to stop the act of minting coins without permission, and once discovered, they will be severely punished.

In this era, European countries poured into China's silver, and many of them entered China in the form of silver coins, which were called Yingyang, which were very popular, because these silver dollars had a fixed weight and sufficient fineness, and were very convenient for trading, so Yu Xiaotian ordered state-owned banks to imitate these Yingyang, and implement silver and copper coins.

And Yu Xiaotian changed the previous casting method, for the stamping method of production, so that the stamped silver and copper coins, not to mention, not to mention, and the weight is stable, will not be light out of the existing money small and large, the shape is unified, more importantly, it can prevent someone from secretly copying and manufacturing counterfeit coins, after all, stamping technology is still an absolute high-tech technology, it is absolutely difficult for ordinary people to imitate this technology, if you use the casting method to imitate, then the quality of the counterfeit coins made will be very poor, You can tell the truth at a glance.

In addition, some people will cut off or scrape off the outer ring of silver coins, in order to make some black money, this kind of thing has appeared in the Ming army before, and there is a silver doped with lead and zinc and other metals to reduce the silver content of silver.

No one wants to continue to cut or scrape off some broken silver from the edge and re-smelt it, so that the scraped or cut silver coin will have no these lines, and no one will want it in the future, so if you do this, you will slap yourself in the face, and no one will be so stupid as to make your money so that no one wants it.

Therefore, the issuance of this new type of coin will play a very good role in the future currency unification, and it will be more convenient to trade when it is used in circulation.

As for the method of issuance, it is also very simple, that is, all kinds of taxes collected by the whole country are handed over to the household department, and all of them go into the big Chinese state-owned banks, which will be minted into coins at the mint, and then these new coins will be used for expenditure when the government spends.

Branches of large Chinese state-owned banks have been set up in various localities, which can handle storage business, and can also exchange the current silver and old money on the market into new coins, and stipulate the proportion of exchange to huàn, so that the state-owned banks can also make some profits from it, which can be regarded as a handling fee.

At the beginning of the second year of Chengtian, Yu Xiaotian issued a decree to the world to stop the direct circulation of all kinds of old coins and silver taels in the market, and to use the new coins of the new Dazhong Dynasty for commercial transactions or other transactions in the future.

In the past, the silver taels and copper coins stored by the people for circulation must first be exchanged in the branches of the public state-owned banks in various places, especially those old-style copper coins, which stipulate the time for redeeming huàn, giving them half a year to exchange huàn, within the specified time, if they do not exchange huàn, then they will be completely abolished, and they will become scrap copper and wait to cry!

Local governments have sent people to strictly check the use of new currency in the market, and prohibit the continued use of old currency or the continued use of silver and silver transactions.

The new coin itself is exquisitely made, and the weight standard, whether it is copper or silver, are the same color, it is quite convenient to use and carry, and the merchants are very willing to collect this new coin, so it is not difficult to implement, once issued, it is very popular, and the business of exchanging huàn is also very hot, and the people have sent all kinds of old money on hand to the bank to line up to exchange huàn new coin.

Including some wealthy households, they are also very willing to take some of the old money they have saved and quickly exchange it for huàn, otherwise they will store it in their cellars, and it will soon become scrap copper, and no one dares to slack off.

This has also caused a lot of pressure on the bank, one is that there are too many people who come to exchange huàn, even if they are exchanging huàn day and night, they are too busy, and the other is that the amount of new currency they prepared in advance is not enough to exchange all the old currency of the huàn people, many people wait for a long time, but they can't get the new currency, and they are very unhappy with the complaints, and even some places have caused trouble, and even the branches of the big Chinese banks in various places have been smashed a lot.

Yu Xiaotian also expected this, and printed a large number of banknotes equivalent to silver coins and copper coins in advance, these banknotes also used paper specially developed by craftsmen, and at the same time used the most exquisite engraving printing technology, and the use of semi-automatic mechanical printing, as well as the use of ink is also specially produced, the printed banknotes, compared with the previous Ming Dynasty issued those treasure banknotes, simply exquisite to the sky.

These new banknotes, but also watermarked, do a lot of anti-counterfeiting measures, Yu Xiaotian will later know some of the paper-money anti-counterfeiting technology, also got over, the use of the existing technology available in this era, such as in the manufacture of banknote special paper, in the addition of some various colors of fine fibers, so that the surface of the banknote paper can see these colored fine lines,

In this way, at least those counterfeiters now, want to imitate this new type of banknotes, it is simply impossible, real and fake banknotes put together, with the butt can also distinguish the authenticity, it can be said that it has done enough anti-counterfeiting measures, at least to ensure that within a few decades, no one can imitate this banknote.

After the local banks got these banknotes, they began to use the banknotes to exchange the old money in their hands for the people, and the government posted a notice that no one should refuse to accept such banknotes, and the banknotes could be used as the value of the money printed on the banknotes, and the merchants who received the banknotes could go to the branches of the state-owned banks in China to exchange them for silver or copper coins of equivalent value within a few days of each month.

It's a complicated process, and when the banks first gave people the huàn banknotes, most of them didn't want them at all, they had to exchange them for new metal coins.