The fall of empires often stems from financial collapse.

The gold content of the "Golden Dugad" has fallen sharply in recent years, suggesting that the monetary cycle of the Holy Assanian Empire has become increasingly unsustainable.

Referring to the history of the rise and fall of the Roman Empire on the earth, it is not difficult for Roland to deduce: unless there is a prosperous lord or a saver in the Assanian Empire, and the financial situation is effectively reformed in a timely manner, the great empire that has ruled the Atlas continent for sixteen centuries will also face the crisis of financial collapse and even national disintegration in the near future.

The more severe the financial crisis, the more the imperial government could not resist the impulse to issue money indiscriminately. Roland didn't want to see the day when Imperial Dugar, which was not as rich in gold as the lead content, flooded the Far Eastern market and caused the Far Easterners to suffer from imported inflation, so he had to take precautions and formulate a new monetary policy from now on, issue new coins to replace Imperial Dugar, and eliminate hidden dangers before the Imperial currency crisis broke out in full force. Then you can happily watch the fire from the other side, sit back and wait for the death of the imperial financial authorities, and if necessary, add a fire, so that the end of the Dugard era will come sooner......

The Treasury Bond Underwriting Fair ended successfully on November 6, in fact, the transaction that should be discussed on the 3rd was all over, and the next three days were just under the banner of the meeting to invite the business travelers of major financial institutions to eat and drink, which was regarded as official entertainment.

This kind of liaison activity is necessary, but Roland is neither interested nor time wasted on it, so he handed over the errand of entertaining VIPs to Chancellor of the Exchequer Zahar, anyway, from the beginning the meeting was held in the Ministry of Finance, and it was good to eat and play with Zahar, not to mention that this fat man was very good at engaging in this kind of interpersonal relationship, and Roland was happy to let him fully perform.

Since the time of the imperial provinces, this was the first international financial conference to be held in the Far East. Mr. Zahar coincided with the meeting, and he was busy for nearly half a month, and he felt that he had gained a lot from his hard work, and his attitude towards Roland changed from the previous yang and disapproval to being happy and convinced. Seeing off the representatives of the major banks, Zahar went to 23 Financial Street to visit Roland and thank him for giving him this valuable opportunity to cooperate.

"I used to be a small person in the financial industry, and I was not qualified to speak in front of such real industry giants as Master Kosygin and Lady Theodora, but after this debt fair, it was very different, and I could boast to my children about the top bankers when I got home...... It's so face-saving! Zahar sighed in Roland's office, and then hurriedly added a witty sentence, "Of course, people mainly reward me for the sake of your highness's face." ”

"In fact, what really gives you face is the title of 'Chancellor of the Kingdom of Kolas', even if it is not much glory now, but I believe that you will eventually go down in history because of this." Roland said with a smile.

Zahar's heart was obviously shaken, and his chubby face showed a look of longing, and it took a while to come back to his senses, and he smiled a little embarrassedly: "I don't have the ambition to go down in history, I just want to do things as well as possible within my authority, and I am satisfied not to disappoint Your Majesty and His Highness." ”

Roland poured him a cup of tea, and his expression became solemn: "Mr. Zahar, you have come at the right time, and I have something important to discuss with you. ”

"Your Highness has something to order." Zahar was deeply touched by the success of Roland's issuance of government bonds, knowing that His Royal Highness had not only a vast number of friends, but also a brilliant mind and extraordinary vision, and that the plans he had drawn up seemed unrealistic at first glance, but in fact always had unexpected results. Now Zahar no longer questions whether Roland's decision was the right one, but instead spends his energy thinking about how to implement it.

"After the successful issuance of government bonds, we already have sufficient gold reserves in our treasury, and the next two important tasks are to issue new coins and recycle old ones."

"What does Your Highness mean...... Are we going to build a national mint and issue new coins to replace the Assanic coins currently in circulation? Zahar asked.

Roland nodded, and then said: "I am preparing for the work of supervising the minting of new coins, you don't have to worry about this, but the work of recycling old coins is more complicated, and I don't have a clue yet, you are a banker, what are your suggestions?" ”

It is imperative to issue new coins to replace old ones, but old coins cannot simply be abolished by executive order, otherwise they will cause economic turmoil. After all, the Far East is not the Tianzhu Kingdom on the earth, and Roland is not an old immortal, saying that if you scrap money, you will scrap money......

Zahar rubbed his chin and thought for a while, and said to Roland: "This matter cannot be too anxious, the Ministry of Finance and the Central Bank can set a period, such as one to two years, during which commercial banks around the country can open exchange windows, people can exchange old currency in local banks for new currency, and at the same time recover the old currency through taxes, smelt it and recast it into new currency, in addition, in order to urge the people to exchange the new currency as soon as possible, you can ask Mr. John Pulit to give a briefing in the newspaper to explain the reasons for the new government to issue new currency, It would be better to bundle patriotism with boycott of imperial coins for propaganda. ”

Roland nodded again and again, the combination of changing the currency system and patriotic propaganda, Zahar really has a good idea!

"Your Highness, how to determine the gold content of the new coin, determine the gold content to calculate the exchange rate with the imperial gold coin." Zahar reminded.

The concept of "exchange rate" also exists in the Vales countries, where gold and silver currencies are commonly used, and the exchange rate of each country's coins is the ratio of their gold (silver) content, which is also known as "coinage parity".

For example, the gold content of the Imperial Gold Coin is about 70%, and the gold coin issued by the Marquis of Sea Blue has a gold content of about 80%, and the weight of the two coins is the same, then the exchange rate is 8:7, that is, 8 Imperial Gold Coins can be exchanged for 7 Aqua Gold Coins.

"The central bank has roughly calculated that the maximum number of imperial gold coins currently circulating in the Far East will not exceed 200 million, and that the gold we have raised through government bonds can make 60 million new coins with a gold content of 100 percent. The exchange rate is set at 1.5, that is, 2 new gold coins are exchanged for 3 old gold coins, so that a total of 90 million old gold coins can be exchanged back, and after smelting, impurities are eliminated to cast into new gold coins, and they are put into the market again to exchange old coins. Roland said calmly. The Empire was much more honest in the minting of silver and copper coins than the sharp depreciation curve of gold coins, which currently had a high silver content of 85%, let alone copper coins, which were too low to be worthy of adulteration.