Otaku Engineer in Great Tang Dynasty Chapter 1268: The nectar is right!

The minister knows that your Majesty has worries, but the appearance of Yanhuang Bank and Tang Yuan is definitely more good than bad for Datang. Please consider carefully! "

In the Temple of Ganlu, Li Zexuan bowed.

The bank and Tang Yuan, which have been around for more than half a month, finally ushered in the super "big test" they must go through!

If you pass the exam, you will be a student; if you fail the exam, you will die!

Li Er asked indifferently: "Oh? Then tell me, what benefits can this bank and Tang Yuan bring to Datang~?"

Li Zexuan organized some language in his heart, and said slowly:

"Your Majesty, first of all, Tang Yuan is lighter than copper coins, and it is more conducive to transactions between merchants and people, especially large transactions! For example, buying a carriage, the price of a carriage nowadays is hundreds, hundreds A consistent copper coin weighs a thousand jins, and at least two or three bullock carts must be installed! And if you use Tang Yuan to pay the bill, you only need a few such 100 Tang Yuan banknotes to easily complete this. A transaction that saves time for both the buyer and the seller!"

While talking, Li Zexuan took out a banknote with a face value of 100 Tang Yuan. Li Er asked Zhao Song to present Tang Yuan, and he looked at it carefully and said:

"As Xuanling said, you Tang Yuan printed very exquisitely! What you just said, I have already understood before, but I can’t just abandon copper coins and use Tang Yuan just because Tang Yuan is more convenient than copper coins. Yuan! In case of national turmoil, you cannot bear this responsibility, nor can I bear it!"

Li Zexuan arched his hands and said: "Your Majesty said that! This Tang Yuan may indeed cause national turmoil. It is absolutely correct to be cautious!"

Li Er frowned, and said in a bad mood: "Your kid just said that Tang Yuan is so good, why do you say that now?"

"Your Majesty, the reason why this Tang Yuan may cause national turmoil is entirely because it is so easy to use and has too many advantages! To talk about the disadvantages of Tang Yuan, we must start with the advantages of Tang Yuan! "

Li Zexuan smiled and continued: "In addition to the point just said, Tang Yuan’s second advantage is that it is extremely safe to carry and can also make up for the "money shortage"! My current annual copper production in Datang is about At more than three million catties, even if all used to cast copper coins, it can only cast more than six hundred thousand coins!

Since your majesty became the throne, he has cooperated with the civil and military forces of the Manchus to vigorously develop people’s livelihood. This 600,000 coin minting vehicle per year may have been enough in previous years, but since last year, private copper coins have been stretched, and more and more Later, with the development of production in various states and counties in Datang and the acceleration of commodity circulation, the speed of casting copper coins will become less and less able to keep up with the needs of the people for copper coins!

At that time, there will be a large-scale money shortage. How should the court deal with it? Is it necessary to restrict private production? Of course not, this is hindering my progress in Datang! And if there are banks and Tang Yuan, and the imperial court mandates that Tang Yuan can completely replace copper coins, there will be no money shortage at all! "

Li Er's heart moved. What Li Zexuan said really hit his painful heart. His family knew about his family affairs. The amount of coins in the Tang Dynasty was actually less than 600,000 coins as Li Zexuan said, and it is undeniable. Since the world was peaceful, non-governmental agricultural production has recovered very quickly. The increase in copper coins in the entire Datang has almost failed to keep up with the demand for copper coins by the people. If this continues, the court really has nothing to do!

Will the court again suppress the value of all commodities? For example, if three pennies and one bucket of rice are suppressed to two pennies, the demand for copper coins will naturally decrease, but how is that possible? The prices at this time are already very, very cheap, and they must not be suppressed anymore!

"Do you mean that after Tang Yuan replaces copper coins, I can issue Tang Yuan to alleviate the shortage of money?"

Li Er frowned and asked.

Datang’s current currency system does have problems, but he always feels that Tang Yuan will also have hidden dangers, and it is "not practical" to use it!

Li Zexuan hurriedly shook his head and said: "Your Majesty, this is a disadvantage of Tang Yuan and a hidden danger! Tang Yuan can solve the money shortage and quickly generate a lot of wealth for the court, but there is a huge risk behind it. Your Majesty, you are wise and powerful, and you have excellent self-control, but you can guarantee that the emperors of future generations will be the same as you?

In case there is an emperor who is greedy for temporary gains and overprints Tang Yuan to deal with the financial difficulties of the court, the Tang Yuan flowing to the people is much higher than the people need, and the people think that Tang Yuan is worthless, and they will crazily want to go to the bank Convert Tang Yuan into copper coins. At that time, the new currency system built with Tang Yuan will collapse quickly, and if one fails, the country will also collapse. "

Li Er suddenly realized that he finally understood what the problem he had been worrying about in his heart was. He asked: "Then what is the circulation of your Tang Yuan based on?"

Li Zexuan replied: "At present, of course it depends on how much copper money is prepared in the bank! The bank and the initial stage of Tang Yuan's operation, the bank must provide 10% or at least 80% of the reserves for the printed Tang Yuan! In other words, If the bank wants to issue one hundred thousand tang yuan, it must have a reserve of at least 80,000 guan yuan, which can be used for ordinary exchange by the people and businessmen!

Tang Yuan is nothing but a credit voucher. Only when everyone believes that Tang Yuan can be exchanged for copper coins at any time, they can use Tang Yuan with confidence! Moreover, as the people and businessmen trust Tang Yuan more and more, the number of exchanges of copper coins will be significantly reduced. At that time, the reserve required by the bank can be reduced to about 40 to 60%! At that time, even though Datang could only mint 600,000 coins of copper coins every year, it could issue at least one million Tang Yuan! "

Li Er's eyes lit up and he finally smiled and said, "This is also a good idea, but I listen to you. Isn't it determined that the future Tang Yuan issuance depends on the amount of copper prepared in the bank?"

Li Zexuan replied: "Of course not! This method of issuing Tang Yuan with copper coins as a guarantee is just the most basic method of the bank! When Tang Yuan is accepted by most people later, it will not be at all. A corresponding proportion of copper coins is needed as a guarantee. At that time, the credibility of the imperial court was used as guarantee, and the amount of Tang Yuan to be issued was determined based on the value created by the owners of Datang every year! Therefore, the bank must be in the hands of the imperial court Inside!"

Money issuance in modern society has basically gone through three stages:

The first is the gold and silver reserve system: under the metal currency system ~IndoMTL.com~ once stipulated that the central bank must have a 100% reserve for issuing bank rolls, because at that time bank rolls can be freely exchanged for gold and silver.

The second is the guarantee reserve system: After the non-realized credit currency system replaces the metal currency system, the central bank's currency issuance is allowed to be guaranteed by securities, foreign exchange and even other assets. (This is one reason why the country attaches great importance to foreign exchange reserves)

The third is the management currency system: In order to prevent the central bank from issuing banknotes indiscriminately, many countries have implemented a system of maximum banknote issuance.

In Li Zexuan's plan, Tang Yuan must develop from the initial exchange currency to the credit currency, and eventually develop into the official official currency issued by the state, completely replacing copper money!

After all, in his opinion, in addition to making money, copper is still very useful in other ways!

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