Chapter 162 Monetary Reform
internal worries about villains interfering in politics, relatives, eunuchs, and harems; In the middle of the worries about the corruption of officialdom, the official coercion will inevitably be revolted; External worries about national contradictions, and foreign races are eyeing each other. The demise of all dynasties and dynasties all started from these three.
Now the Great Song Dynasty is particularly troubled, the old enemy Liao has died, the remnants of Liao are attached, the Western Xia is a vassal, and the main foreign enemy at this stage is the Jurchen. After two battles, the Jin army suffered a lot of losses and lost its vitality, and has temporarily switched from offensive to defensive, while the Song army has been reorganized and strengthened day by day, and the border has been increasingly consolidated.
After two rounds of purges in the officialdom of the Great Song Dynasty, with a group of upright officials such as Li Gang and Zong Ze coming to the court, a large number of ineffective officials were replaced, and a large number of surplus personnel were laid off, and the corruption in the officialdom was curbed, but it was not an overnight thing to completely eliminate it. However, the situation has changed dramatically, government decrees have been accessible, local governance has been established, society has gradually stabilized, and rule has become more and more secure.
Villains are indispensable at any time, but now that Vientiane is updated, the emperor is ambitious, and the 'positive energy' is full of government and opposition, and the villain has not dared to show his head. And the eunuchs interfered in politics is not yet able to talk about it, the previous emperor Zhao Huan was too interested in these inner servants, and after coming to power, he cut a batch, and when he was "Fu Que Shangshu", he was killed by the people of Beijing and the students, and after the city was broken, he was arrested by the Jurchens, and the servants became a rarity for a while.
Now the number of inner servants in Ouchi has caught up with the period of Taizu's founding of the country, and there are less than 200 people in charge of the huge harem, and they all know that Jianxi was trained by the emperor. Although he also loves money, he cherishes life even more, and knows the temper and methods of the emperor, where dare to come nonsense. Although he has now become the leader of the Ministry of Internal Affairs, he is even less courageous.
The power of foreign relatives has always been very weak in the Song Dynasty. It has never been a climate. Zhao Ta's grandmother's family all made a fortune with him, and they had little desire for power. And he doesn't have to worry about these things at all, his mother Zheng Hongmei can't pass these people, but he still made his grandfather the king of the county and the third uncle as the prince of the country, in order to thank the old Zheng family for raising and taking care of him, but this is just an honor and no real job.
As for the harem, Zhao Ta only has three women, one queen and two concubines, not to mention compared with his father, even compared with his brothers, it is also very shabby. After the change, Empress Zhu Shuzhen had to draft a draft girl for the emperor to enrich the harem. But he was rejected by Zhao Ta, and now he wants to marry Zhe Meiluan, who has a filial piety, according to the agreement. At the beginning of February, Zhao Ta issued an edict to Jin Feng Feng to be the Duke of Xiguo, the prefect of Fuzhou and the governor of Fuzhou, Linzhou and pacification; The seal can be saved as the Duke of Qi, who was transferred from Shaanxi to Bianjing as a defense envoy and given a mansion; And the Zhe family is also very 'sensible', and immediately asked for the hereditary removal, and was willing to defend the enemy for the Great Song Dynasty, and immediately sent his sister to Beijing to complete the marriage.
Zhao Ta was very satisfied with what the folded family did. They finally figured it out, Fuzhou had lost its previous role as a border commander with the recovery of Datong, and the end of the war meant the beginning of the family's decline, but Zhao Ta let the Zhe family still guard Sanzhou. One is to serve as a reserve corps in case of another invasion of Western Xia; The second is to guard against the remnants of Datong and restore it. But he couldn't let the Zhe family sit on the throne again, so he transferred Zhe Kecun to the capital to serve, which was also in line with the practice of the Great Song Dynasty to send his relatives to lead the forbidden army in Beijing...
At this moment, it is another difficult problem to put on the case of Zhao Tan. It's about monetary reform. Metal money was one of the first currencies, but metal was used as money. The weight value is small, and the circulation is inconvenient. After the invention of paper and printing. It is natural for people to think of making paper money.
Paper money in the Zhenzong period by the Sichuan 16 wealthy merchants even to protect the printing of Jiaozi, with a color of paper, printed trees, houses and other figures, plus the seal letter, each household set up red and black two colors of secret marking. In the unit, the face value is not limited, and it is often 10,000 times. Those who hold Jiaozi can cash it when they want to use it, or they can use Jiaozi directly. To exchange Jiaozi for cash, the interest of each 30 Wen must be cut, and the Jiaozi must be printed once or twice a year when the silkworm rice and wheat are harvested.
Later, Jiaozi often failed to cash in due to the bankruptcy of the issuer and other reasons, and the government banned private issuance. In the first year of Tiansheng, the government-run Sichuan Jiaozi Office established and issued the first official Jiaozi, and set up a special Jiaozi to be responsible for printing, distributing and returning. When cashing, the trade name should be registered in the book and written off according to the trade name to prevent forgery. If you use cash to exchange for Jiaozi, you must first deduct every 30 Wen to enter the official, which is different from the private Jiaozi when cashing in money.
At that time, it was stipulated that there would be one boundary every two years, and the issuance amount of each boundary was more than 1.2 million yuan, and 360,000 yuan of iron money was prepared for redemption. The face value of this kind of Jiaozi is fixed and stamped with the official seal, which is consistent to the face value of ten times, and the first year of Xining was changed to consistent and five hundred wen. The earliest Jiaozi was a bit like a private loan note, and a bit like today's securities, so it was very primitive and had many attributes of monetary capital.
The convenience of paper money as a means of payment was easily recognized, so once it was invented, it was quickly popularized by the people and the imperial court. At that time, the government directly used Jiaozi as a means of bulk payment, such as buying military grain and grass from merchants, or directly using it as military expenses. When Wang Anshi reformed, he also used it as the capital of green seedlings, and the government's regular liquidation was also paid in advance. Since the payment is indeed convenient, the government has the incentive to implement it. But the main and fundamental reason is that there was a serious "money shortage" in the Northern Song Dynasty.
The so-called money shortage is a shortage of currency. Because iron smelting technology is not as mature as copper smelting, and iron is also perishable, copper coins were the main currency at that time. The reasons for the money shortage are: first, the development of the commodity economy leads to the shortage of money supply; the other is the leakage of copper coins; Then there is a large number of copper coin mints sold privately by the people, and the copper coins made by processing through multiple manual processes are destroyed, but they get more than several times the profits.
These factors lead to an imbalance between the value of metal coins and the market price, and copper coins are worth more than their currency prices for a long time. In the face of a great shortage of metal coins, the Song Dynasty implemented a system of mixed payments in kind and money between the salaries of officials and the salaries of the army, and the lives of the wage earners were fully or partially incorporated into the market exchange. The hard currency in the market is metal currency, so many bureaucrats and government gather it, which further leads to a shortage of metal currency, which in turn promotes the promotion of paper money.
The emergence of the prototype of this modern currency is a kind of progress, but also a good thing, but at that time people's understanding of Jiaozi still has limitations, the ruler soon regarded Jiaozi as a tool to collect money - indiscriminate issuance of paper money, to solve financial difficulties, to Zhao Ji when he was in power, due to the war, the indiscriminate printing of Jiaozi, increased to more than 26 million, such a huge circulation, coupled with no cash exchange, so that the paper money depreciated sharply, causing social shocks, Zhao Huan not only failed to stop this momentum, On the contrary, the issuance of increased issuance, coupled with the fact that various local forces have also issued military funds, resulting in currency disorder and credit collapse...
Zhao Ta has now taken over this mess, and he is in a hurry to reissue banknotes, which is also forced by the situation. In this era, productivity was low, metallurgical technology was backward, and although the output of copper was greatly increased compared with the previous generation, he opened the Pandora's box of firearms. Artillery, guns, and bullets all require a large amount of copper to produce, and the copper used in military workshops to produce weapons is the copper coins that were stockpiled in the past. Today, the number of armies has doubled, the consumption of weapons and ammunition has skyrocketed, and the use of copper has also risen. And the output of copper is there, and if you take care of this end, you can't take care of that end!
One of the major characteristics of the economy of the Song Dynasty was the development of commerce, and now the contradiction between the development of the commodity economy and the shortage of coins is becoming increasingly acute, and the resulting deflationary effect has seriously hindered the development of the commodity economy. The next step for Zhao was to expand overseas trade to increase commercial taxes and solve the economic problems of the Great Song Dynasty, which also required a currency alternative, the popular 'silver standard'.
Zhao Ta planned to use silver as the currency standard to establish a new financial order, but his two experts failed to fully understand his intentions, and the prescription he prescribed failed to prepare medicine.
"Mr. Gong, it's a bit inappropriate to exchange four old banknotes for new banknotes!" Zhao Ta still said with the old name of the palace in the past.
"Your Majesty, the old minister doesn't dare!" Zhou Xingji hurriedly saluted, his face was respectful, but his heart was very useful, "The minister thought that in a few years, the imperial court issued 40 million yuan, and the payment money was less than 5 million yuan, and the difference between the two is very big, and there is an old practice of exchanging four old banknotes for new banknotes!" ”
"Hmm!" Zhao Ta nodded, how could he not know this kind of thing, in the early years, he and Huang Jingchen teamed up to speculate on salt banknotes and made a lot of money, but now the situation is different, this kind of speculative trading cannot be done, otherwise it will be a smashing of his own signboard, "But once this is operated, it will inevitably cause chaos, resulting in Jiaozi will depreciate again as soon as it is listed, it is difficult to stabilize the market, and it will lose credit, and it is still empty!" ”
Money is not only a means of circulation, but it also has the attribute of credit capital, which can be dispatched into a strong economic accumulation, used for commercial operations, centralized construction, and is also very easy to deviate from the value and infinitely expand, destroying the economic operation system in a moment, which is unexpected, China since the Song Dynasty began to issue paper money, it has raised this question to the wise man of financial management, but they have not been able to see through it, but now it is also a problem that is difficult to bypass.
"Your Majesty, if the equivalent exchange is huge, and the DPRK and China still need to vigorously mint copper coins, and the household department is really unable to bear it, it will also make the treasury of the DPRK and China empty, and there is no money available!" Zhou Xingji said that this problem is also difficult to solve.
"I've thought about this question, in fact, the money of the imperial court is not less, but just a different form of existence, and if the new banknote has credit, it can also be used!" Zhao Tan smiled and wondered, thinking about how he could tell him... (To be continued......)