parentshiftbook Chapter 167: The Biggest Shortcoming Of The Treasure Banknote System Is That Money Comes In Too Quic
Chapter 167: The Biggest Shortcoming Of The Treasure Banknote System Is That Money Comes In Too Quic
As Yan Changqing finished his last words, the rice paper on the right side of the wooden board was densely filled with the comparative advantages and disadvantages of the Da Yuan Bao Banknote and the Ming Dynasty Tongxing Bao Banknote.
Judging from the comparison results of Yan Changqing, the Ming Dynasty Tongbao Banknotes can be said to be as strict and outstanding as the former Yuan Dynasty in terms of cracking down on counterfeit banknotes.
In other respects, there is simply no place where the Ming Dynasty Tongxing Baobao can compare with the Great Yuan Baobao.
Even Zhu Yuanzhang, who had been mentally prepared before, couldn't help but his eyelids jumped when he saw that the Big Yuan Bao Banknote had a lot of advantages, while his Ming Dynasty Tongxing Bao Banknote had a lot of shortcomings.
It's just that this time he doesn't blame anyone, only himself!
【We are so stupid, really!】
[We only know that we should refer to the former Yuan Dynasty to issue the Ming Dynasty Tongbao banknotes, but we don’t know that we should refer to it more carefully. 】
[As a result, they only took some superficial reference to the Da Yuan Bao Banknotes and hurriedly began to issue the Ming Dynasty Tongxing Bao Banknotes. 】
[As a result, almost none of the advantages of the current Big Yuanbao Banknotes have been referenced and learned. On the contrary, we have not failed to refer to and learn from all the shortcomings of the later Big Yuanbao Banknotes. 】
[If we had seriously and deeply studied and understood the details of the Yuan Tongbao Banknote system, then today we would not have turned a good thing that was originally beneficial to the country and the people into a bad policy that harmed the country and the people!! !]
[Moreover, I won’t be scolded by Mr. Yan on behalf of millions of people in the Ming Dynasty!!!]
[No wonder Mr. Yan17 said that we don’t have any experience in issuing treasure banknotes. Likewise, we haven’t absorbed any experience and lessons from the former Yuan Dynasty Yuan banknotes. 】
Zhu Yuanzhang couldn't help but sigh in his heart for his short-sightedness, but then Zhu Yuanzhang thought of the Manchu civil and military ministers in the court.
[Before issuing the Ming Dynasty Tongbao banknotes, we specially summoned the civil and military ministers to discuss and study it. 】
[As a result, the Ming Dynasty Tongbao banknotes we issued had so many drawbacks that no one in the civil and military officials of the Manchu Dynasty could see them!!!]
[Not to mention pointing out the shortcomings of the Ming Dynasty’s Baochao system!!!]
[His mother-in-law, all civil and military officials in the dynasty are all porridge eaters?!]
[Huh, Minister of the Ministry of Finance, Minister of the Ministry of Finance, when we get back, you'd better give me a reasonable explanation!!!]
[Otherwise today we will be scolded by Mr. Yan on behalf of millions of people in the Ming Dynasty, and tomorrow we will ask you to sacrifice your lives to compensate for the fifteen cents lost by millions of people in the Ming Dynasty!!!]
At this moment, Zhu Yuanzhang had already thought of a hundred ways!
There are at least a hundred ways to deal with the minister of household affairs and the left and right ministers of household affairs!!
After all, Zhu Yuanzhang cannot bear the scolding today in vain. Since he has been scolded, someone will naturally have to pay the corresponding price!!!
Yan Changqing on the podium summed up with a serious expression:
"At the beginning of the implementation of the Yuan Dynasty's treasure banknote system, it was guaranteed by the credibility of the court, a certain amount of gold and silver reserves for balance, exchange, and a comprehensive bismuth recycling mechanism and corresponding legal system regulations."
“The issuance and management system of various treasure banknotes, strictly observed by the Yuan Dynasty court, well ensured the smooth operation of the treasure banknote system in the early Yuan Dynasty.
"However, the issuance and management of treasure banknotes in the middle and late Yuan Dynasty fully served the country's financial needs. Gold and silver reserves were misappropriated, and treasure banknotes were issued in excess without limit, etc."
"Although in the short term, misappropriating treasure banknote reserves and overissuing treasure banknotes can temporarily relieve the financial pressure on the court."
"But in the long term, it destroyed the foundation and operating mechanism of the Yuan Dynasty's treasure banknote system and triggered serious inflation."
"In the end, the credibility of the imperial court collapsed, and the big Yuanbao banknotes were worthless. People all over the world were deprived of their livelihood because of the Big Yuanbao banknotes, and they were miserable."
"These are the experiences and lessons worth absorbing and learning from the Ming Dynasty's Tongbao Banknotes!!!"
Below, Zhu Yuanzhang, Empress Ma, and the princes Zhu Biao, Zhu Xi, Zhu Fan, Zhu Di and other princes all nodded when they heard what Yan Changqing said, saying that they remembered it deeply.
Not only are they memorized in their heads, but a lot of records are also copied into their respective notes.
However, seeing this plot, Yan Changqing sighed softly, and his eyes fell far away on Zhu Yuanzhang.
A flash of doubt flashed in Zhu Yuanzhang's eyes, and he couldn't help but ask:
“Why are you sighing, sir?!!”
Yan Changqing was silent for a moment, then quietly said:
"Although treasure banknotes have various advantages over gold, silver, and copper currencies, they are even the main trend for the development of general equivalents in the future.'
"But, to be honest, I do not recommend that Your Majesty continue to use the treasure banknote system."
"The banknote system is a double-edged sword system."
"If used well, it will be a system that benefits the country and the people."
"If it is not used properly, it will be a bad government that squeezes and seizes the wealth of millions of people."
"As for the consequences of bad use, the Yuan Dynasty has already told us with its personal experience and lessons.
"Like what I just mentioned at the end, we use the credibility of the court as a guarantee for the big yuan banknotes, and use gold, silver, and copper as the reserve support for the big yuan banknotes. Do not issue excessive amounts of banknotes to avoid serious inflation and other precautions. "
“Don’t these Yuan Dynasties know?!!”
"No, Yuan Dynasty knows and understands it better than anyone else!!!"
"Otherwise, at the beginning of the Yuan Dynasty, there would not have been so many management systems in place to ensure the smooth operation of the Yuanbao banknotes.'
"But, so what?!!"
"In the middle and late Yuan Dynasty, don't misappropriate the reserve fund support of the Yuanbao banknotes, the Yuan court embezzled it!!!"
"Don't issue excessive amounts of treasure banknotes to avoid causing inflation. The Yuan Dynasty court issued excessive amounts of money, and it also caused extremely serious inflation!!!"
"In the end, we embarked on a vicious cycle of self-collapse."
Having said this, Yan Changqing paused, then stretched out his index finger and waved it gently at Zhu Yuanzhang, Empress Ma, and the princes Zhu Biao, Zhu Di, Zhu Fan, Zhu Di and so on:
"Do you know what the biggest shortcoming of the Baochao system is in my opinion?!!"
King Yan Zhu Di asked with a wink:
"What?!!"
A faint smile flashed across the corner of Yan Changqing's mouth and said:
“In my opinion, the biggest shortcoming of the Baochao system is that the money comes in too fast!!!”
Hearing what Yan Changqing said, Zhu Yuanzhang, Empress Ma, and the princes Zhu Biao, Zhu Di, Zhu Fan, Zhu Di and other princes all frowned, some of them didn't understand.
Yan Changqing smiled and said:
"That's right, it's just that the money came in too fast!!!"
"After the implementation of the treasure banknote system, as far as the court is concerned, no matter how much money it wants, it is really just a matter of copying the treasure banknotes."
"And in the short term, these treasure banknotes really have the same precious value as gold, silver, copper and other general equivalents!!!"
"And these treasure banknotes are guaranteed by the credibility of the emperor and the court, and they can truly be exchanged for real gold and silver of the same value, or other grain and cloth materials, from the hands of thousands of people all over the world!!!"
"At this time, no matter whether the court wants ten thousand taels, one hundred thousand taels, one million taels, ten million taels, or even hundreds of millions of taels!!!"
"For the imperial court and the emperor, everything is within easy reach!"
"Faced with the fact that at any time, you can collect all the wealth of millions of people in the world for yourself in a short period of time!!!"
"Which civil and military official of the imperial court, and which emperor, can truly resist such a temptation?!!"
"After all, using the strength of millions of people in the world to support oneself, isn't this the consensus of all the civil and military officials in the country and even the emperors of the past?!!"
Looking at Zhu Yuanzhang who was vaguely about to open his mouth to defend himself, Yan Changqing shook his head gently without giving him a chance to speak, and continued:
"Even if there is an emperor and a court of civil and military officials who can resist such temptation, when the court is really in financial distress and has to use money.
"Can the emperor, as well as the civil and military officials of the DPRK and China, really abide by the precautions just mentioned above?!!"
"For example, excessive military spending has resulted in excessive revenue and expenditure for the imperial court this year and a lack of annual income."
"Another example is the excessive investment in various people's livelihood infrastructure, which also led to an imbalance in the government's revenue and expenditure this year and a decrease in annual revenue."
"Another example is that when a natural or man-made disaster occurred, the imperial court opened warehouses to release grain and worked hard to provide disaster relief. As a result, the imperial court's expenditure of 470 this year was too large and the annual income was insufficient."
"There are other problems such as this, which have led to the imperial court's remaining years being insufficient and even unsustainable."
"At this time, you are saying that the emperor and the civil and military officials of the DPRK and China are willing to choose to live frugally, endure it together, and work hard to overcome the financial difficulties?!!"
"Or choose, as long as a slight over-issuance of Ming Dynasty treasure banknotes can immediately alleviate the current financial dilemma of the imperial court?!!"
"At worst, I can comfort myself in my mind and say that this year I will temporarily overpay, and next year I will pay less. This way, an increase and a decrease will not cause inflation."
"Do you think the emperor of the dynasty and the civil and military officials in the dynasty would rather choose the former? Or would they rather choose the latter?!!"
Zhu Yuanzhang, Queen Ma, and the princes Zhu Biao, Zhu Di, Zhu Fan, Zhu Di and other princes all got out of bed in silence.
Should I choose to endure it on my own, or should I choose to issue the Ming Dynasty Tongbao Banknote?!!
Needless to say, they all knew how the current emperor and all the civil and military officials would choose such a choice.
Because that’s what most of them think!!!
"This year's fiscal revenue is not good, so we will pay a little more. When next year's fiscal revenue is good, we will pay a little less."
“But how do we know that next year’s fiscal revenue will definitely be good?!!”
“What if next year’s fiscal revenue is worse than this year’s, and there are more places where money is needed and the gap is bigger, will we have to issue more Ming Dynasty Tongbao Banknotes?!!”
“This year after year, next year after year, it’s like this every year, every year it’s super.”
"So, the Yuan Dynasty died like this."
Yan Changqing's gentle words echoed in the classroom.
Below, Zhu Yuanzhang, Empress Ma, and the princes Zhu Biao, Zhu Di, Zhu Fan, Zhu Di and other princes were all silent.
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