Qiming 1158

Chapter 1216 Credit currency?

Faced with this problem, Lin Jingchun has no good solution.

Because it is indeed true.

Measures such as setting up warehouses and digging cellars have all been proposed, and set a red line for the storage capacity. Grain and salt should never be exceeded. Legislation is also required to prevent any person or group from crossing the line.

But such an operation is not convincing.

In case of a major natural and man-made disaster, conventional warehouses cannot be managed at all, and people are going to starve to death. Can you open a warehouse?

Human life is at stake, are you going to distribute food for disaster relief?

Clinging to the fact that the warehouse is not open, do you believe that the hungry victims collectively attack you?

At that time, what will you do with the Daming army?
The common people's children and soldiers face the common people with swords?
What a joke!
This tactic was severely criticized by the revival members. They slammed the table and smashed the bench, grabbed Lin Jingchun and pointed at him by the nose. Lin Jingchun blushed and couldn't say a word.

To this end, the Ministry of Finance proposed a variety of proposals, and argued with many officials for many days at the State Council Meeting, but the dispute could not be resolved in the end. The voting method of all the participating officials could not get the majority support, and the highest approval rate did not. Over [-]%, this resolution has never been passed.

After several meetings, Lin Jingchun realized that the reform plan could not be approved, so he had to give up.

He proposed to suspend the currency reform, and after the Song Dynasty was overthrown, the production of Shu brocade, tea and porcelain would be fully controlled, and these three hard currencies would be linked to the Daming treasured banknotes to stabilize the value of the Daming treasured banknotes.

These three things have nothing to do with the national economy and people's livelihood.

These three commodities are time-tested, very strong in value and in great long-term demand.

All in all, metal currencies such as copper coins and iron coins should not continue to be used. Daming lacks this thing, and casting money costs more than money itself. Isn’t this nonsense?
But even so, his proposal was still questioned by many officials.

The main demanders of these three commodities are the upper classes of society and foreign rulers. The exquisite craftsmanship and the strong demand for these two commodities support the value of these three commodities.

However, the craftsmanship and demand themselves are also unstable. People's needs are not static. Whichever piece of demand is a little less will affect their value, which in turn affects the monetary value.

Xin Qiji made a point.

If a certain country cannot continue to buy Shu Brocade due to the war, and from the beginning of the war to the cessation of the war, the demand for these three goods has decreased, then will it affect the value of the Daming Treasures?

After all, metal currency has its own value. As long as the face value and weight are stable, it is very stable as currency. Without goods, its own value remains unchanged, and some people still recognize it.

But the paper money, just look at the Jiaozi and Huizi that the Song people once made, and the value of the currency is very unstable. If you can't buy what you should have, it's just a piece of waste paper, and it's too hard to wipe your butt.

If something goes wrong and the people doubt the ability of the government, the situation that Daming finally created will collapse.

Does the Ministry of Finance shoulder this responsibility?
Xin Qiji and Lin Jingchun have never had a strong friendship, but they have a pretty good relationship with each other, but the two fought tit-for-tat on this issue and quarreled many times, which also caused a big debate between the metal currency faction and the paper money faction at the State Council.

The metal currency faction and the paper money faction have been arguing over this issue. Hongwu’s currency reform proposals at two consecutive state affairs conferences in the past five years could not be passed. Many people still adhere to the strategy of copper coins. Find abroad.

Lin Jingchun believes that it is one thing to find it or not, it is another thing to find out how to mine it, and it is another thing to find out how long it will take to put it into the market for operation.

Maybe when you find the copper you want, Daming has fallen into depression because of deflation!

The two sides argued endlessly, and neither agreed with the other.

Finally, Chai Yuanming, the left servant of the Ministry of Finance, even put forward the concept of credit currency across the ages.

What he means is why can't we turn the Daming Treasure Banknotes into a government credit currency with reference to the actual situation of the current white paper?

He believes that because the government guarantees the value of baitiao and ensures that baitiao can be tax-deductible, the status quo that people trust baitiao and even use baitiao as currency may be a precursor to the issuance of credit currency.

According to his on-the-spot investigation, he found that now in the Yellow River project area, in a large number of areas in Henan Province and Shandong Province, the white paper issued by the Ministry of Finance of Daming is actually currency.

He saw with his own eyes that some people used white strips to buy rice, meat, and fish in the market, and he also saw with his own eyes that big merchants used a lot of white strips to buy bulk goods, such as silk cloth. There are no worries anymore.

They are used to it.

For the sake of prudence, Chai Yuanming disguised himself and went deep into the people. He talked with farmers, urban industrial and commercial practitioners, and businessmen many times, asking them about their actual views and trust in Baitiao.

From this, he learned that people generally believe that white bars are money, and they are no different from money. The amount of tax deductions written on it is so valuable that it can be used for daily business transactions.

The latest baitiao is linked to the amount of copper coins because Daming changed the tax on copper coins, which is more simple and clear.

Folks abandoned the huizi that was issued by the government of the Southern Song Dynasty, and used white strips as banknotes for commercial exchange. From ordinary farmers to wealthy businessmen, even government officials used white strips for daily shopping.

More importantly, Chai Yuanming found that they generally didn't even care whether the white bars could really be exchanged for the same amount of copper coins.

They only know that this thing is useful to the government. The government recognizes this thing, and when they pay the tax, they hand it over to the government, and the government really accepts it and recognizes it.

In this way, it is no longer important whether it can be exchanged for the same amount of copper coins, and few people actually went to the bank to ask if the white bar could be exchanged for copper coins.

They have begun to ignore the copper value of the white bars, and have begun to regard the white bars themselves as a real currency.

Chai Yuanming took this as a basis and thought that he could try to issue white bars as a complete currency.

Because in this process, because of the high credibility of the Daming government, there is no trace of copper coins in the whole process from goods transaction to tax payment.

"Farmers, handicraftsmen, merchants, the main groups of people who trade commodities in the market, they don't even care whether the white bars can be exchanged for the same amount of copper coins in various banks, they don't care about this issue anymore.

They believe that the baitiao can buy what they need, and they believe that the baitiao is handed over to the government when paying taxes, and the government approves it. During the whole process, I did not find a trace of a copper coin. "

Chai Yuanming looked excited.

He stood up and made a speech to the officials attending the meeting.

"As far as I have seen in the prefectures of Shandong, the local people have basically become accustomed to the state of using copper coins for small transactions and white bars for large transactions. They generally think that copper coins are heavy, and it is enough to carry a little bit. The white strip is light and easy to carry.

When buying gadgets, rice and salt, they will bring a few coins with them. When it is their turn to buy meat, oil, cloth and other items, they generally use white bars, and merchants use them on a large scale. , I haven't seen copper coins before, doesn't that mean something? "

The officials participating in the State Council, look at me, I look at you, many people are having small-scale whispered discussions, as if they are serious and concerned about this matter.

Many people involuntarily turned their attention to Su Yonglin.

There is no doubt that it is Su Yonglin who can make the final decision and bear the ultimate responsibility for it.

Chai Yuanming then turned his attention to Su Yonglin.

"Chairman, it is not unfeasible to continue the strategy of copper coins, but the problem is that with the increase of the population of Daming and the increasing number of people engaged in business, the copper coins will inevitably fall into a state of making ends meet, and the coins will be more expensive than the money itself. It’s not a small problem.”

Chai Yuanming expresses his own opinions, hoping that Su Yonglin can agree with his own suggestions.

(End of this chapter)