Chapter 124 Disadvantages! Ming Dynasty Banknotes that Look Like Toilet Paper!
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Qianqing Palace, main hall.
Officials in Beijing hurriedly entered, looking a little worried.
After all, the person overseeing the country now is not His Highness the Crown Prince, but the Prince of Han.
As soon as the emperor left, the Han prince couldn't wait to hold an impromptu court meeting, and even summoned all the courtiers above the fifth rank in Beijing.
Such a high-profile move can hardly help but make people suspicious.
Prince Han, who is the prisoner of the country, what kind of monster are you trying to do?
In the originally empty main hall, the palace servants had filled the brocade stools in order.
The Prince of Han was sitting on the small bench next to the dragon chair, and the Crown Prince Zhu Gaochi was also sitting next to him, looking at the plan with a worried face.
The word "money method" was all on Big Fatty's mind now, and he was extremely worried.
This is the Ming Dynasty Banknote Law, the economic lifeline on which the imperial court depends for its survival!
If something goes wrong in his hands, then he, the prince, doesn't have to do anything.
Thinking about it, all the officials in Beijing soon arrived.
Jin Zhong, Xia Yuanji and other six ministers arrived, Huang Huai, Yang Rong and other cabinet scholars arrived, and even Zhu Yong, the military attache and ministers who stayed in the capital, rushed over.
Zhu Gaoxu, the king of Han, now supervises the country's governance and is the nominal leader of the Ming Dynasty. With the sacred gold medal on his body, no one dares to disobey him.
Seeing that the people had almost arrived, Zhu Gaoxu didn't waste any time and said in a deep voice: "Since we are all here, please take a seat first. The matters to be discussed today are related to the economic lifeline of my Ming Dynasty, so it will take a long time."
Everyone was stunned after hearing this, and immediately realized the seriousness of the matter, and sat down worriedly.
Anyway, the emperor is not here, so this court meeting is not very formal, so sitting is better than standing.
The ministers sat on the small benches obediently, and soon someone from the palace sent a planning document.
This was the result of Zhu Gaoxu having several Zhongshushe people in the cabinet copy it. The content is exactly the same, but the handwriting is much prettier than the original.
Xia Yuanji flipped through the planning book and his eyes widened the next moment.
"Rescue the Ming Dynasty Banknote Law Plan!"
Ming Dynasty Banknote Law!
His Royal Highness, the King of Han, actually wants to attack the Ming Dynasty's banknote method? !
How dare he? !
The banknote law is related to the economy of the Ming Empire, but it affects the whole body!
As soon as the emperor left to launch his Northern Expedition to attack Wala, you jumped out on the back to innovate the banknote method. Is this appropriate?
For a moment, Xia Yuanji, Jin Zhong and other important officials in the court were a little worried, and the wrinkles on their faces became a little deeper.
They were flipping through this so-called planning book, and the more they read, the more frightened they became, and the more they read, the more timid they became!
Although the ministers had never heard of new words such as "national bank", "macroeconomic management", "purchasing power", "credibility", "reserves" and so on, and were confused at first, they understood it after a little thought. It makes sense, easy to understand.
However, when they saw it clearly, they became more and more frightened.
According to this planning book, after the founding of the Ming Dynasty, people's livelihood was in decline and everything was in ruins. In order to relieve the financial pressure of the imperial court's southern and northern wars, Emperor Taizu Gao, a wise and wise man, vigorously promoted treasure banknotes and made it a national policy.
At that time, the domestic government tax revenue, coupled with the shortage of copper coins and other problems, made it difficult for the court to cope with various expenditures. In the end, the Gao Emperor issued the Ming Dynasty Baobao Banknotes.
After the issuance of Ming Dynasty banknotes, the effect on the government in resolving domestic financial pressure was obvious.
After all, this treasure banknote is the official currency in name, and the court can print it unlimitedly. If it runs out of money, it can print more.
However, the planning book pointed out the various shortcomings of the treasure banknotes, especially the unrestricted and excessive printing and issuance. Within a hundred years, the treasure banknotes will be reduced to waste paper discarded like worn-out shoes. Even a dog wouldn't want to step on it!
is this real?
Xia Yuanji and other important ministers looked through the planning documents anxiously, their brows furrowed into the character "Chuan".
The treasure banknotes that Taizu was once proud of will continue to depreciate and eventually become a pile of waste paper!
Even if they don't want to believe it, the facts and data before everyone cannot help but believe it.
In the eighth year of Hongwu's reign, the banknote method was implemented. One tael of silver was exchanged for one guan of treasure banknotes, and four guan of treasure banknotes were equal to one tael of gold!
But by the 30th year of Hongwu, one tael of silver could be exchanged for fourteen ounces of treasure banknotes!
Then in the first year of Yongle, one stone of rice was worth ten coins!
You know, in the eighth year of Hongwu's reign, the price of one stone of rice could be purchased with treasure money!
In other words, in just twenty years, Ming Dynasty's treasure banknotes have depreciated more than ten times!
This rate of depreciation is frighteningly fast!
The ministers remained silent and all looked at Xia Yuanji, the Minister of Household Affairs.
He is the Minister of the Ministry of Revenue. Others may not know the authenticity of these data, but he, Xia Yuanji, definitely knows it!
However, Xia Yuanji faced these questioning glances and finally nodded.
"Indeed, there is nothing wrong with these data, they are all current market prices!"
Everyone was shocked when they heard this answer, which was unimaginable.
In just twenty years, Ming Dynasty's treasure banknotes have depreciated more than ten times!
If the depreciation continues at this rate, there is no need to wait for a hundred years. Maybe in another twenty years, the treasure banknotes will be reduced to waste paper and completely eliminated!
Now not only Xia Yuanji is panicking, but also giants such as Jin Zhong and Huang Huai are panicking.
When something happened to the Ming Dynasty treasure banknotes, the first person to bear the brunt was the Ming Dynasty's finances. The national fiscal revenue would be significantly reduced, many policies could not be implemented smoothly, and the court would also lose credibility among the people...
What will be the final result of a court that does not keep its word and a court that does not get the support of the people?
All fools know the consequences!
Suddenly, all the officials were frightened, the civil and military officials were in panic, and they began to talk about it.
Many of them were aware of the flaws in the treasure notes, but they did not pay too much attention to them. For example, Xia Yuanji, the Secretary of the Ministry of Revenue, how could he have the extra energy to pay attention to this "little thing"?
However, when the clear data was placed in front of them, everyone saw the terrifying speed of the depreciation of the treasure notes, and the series of serious consequences that the eventual collapse of the treasure notes would bring to the Ming Dynasty!
At this time, they finally panicked and finally realized the seriousness of the problem!
Zhu Gaoxu had a panoramic view of the performance of the ministers and was the first to speak: "You also see the issue of treasure notes."
"As for the reasons for the depreciation of treasure banknotes, there are only a few."
"First, there is not enough margin. The issuance of each currency must have sufficient margin. In other words, the reserves of gold, silver, copper and other materials in the Ming Dynasty must be satisfied with the currency it issues. Only in this way can the currency of the Ming Dynasty be guaranteed. The actual value is about the same as copper coins, and there won’t be much change..."
"The second is that the imperial court is wasting money indiscriminately. When it has no money, it issues treasure banknotes to solve the urgent financial needs of the court. But there is no such thing as a free hand in this world. The amount of Ming Dynasty treasure banknotes issuance is far greater than its own treasury reserves. If the amount is too high, it will naturally lead to the continuous depreciation of the treasure banknotes until they become a pile of waste paper..."
"Third, the issuance of treasure banknotes is extremely irregular, with no anti-counterfeiting measures and no recycling stage..."
Listening to the shortcomings pointed out by His Highness the King of Han, all the ministers present felt their faces flush.
What King Han said was like slapping them in the face several times, and it was a slap in the face!
However, the truth is that they have no other choice but to accept it honestly.
The chief and deputy envoys of the Baochao Lifting Department affiliated to the Ministry of Household Affairs were even more trembling at this moment. They had now become the culprits who attracted hatred.
"The Treasure Banknote Collection Department of the Ministry of Household Affairs has an unshirkable responsibility for causing such depreciation of treasure banknotes!"
"..."
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