Back to Ming Dynasty with Industrial Revolution System

Chapter 944 Currency Reform Started
"After your vacation is over, I still have important things for you to do, so don't think it's easy during this time." Chu Yun didn't give Dayuer too much chance to breathe.

There is a shortage of talents around him, especially Da Yuer, who has work experience in the Audit Office, operates a bank in Japan, and has frequent dealings with Chinese businessmen.The economists summoned here are either pure theoreticians or have Western experience, which does not fully match the actual situation here.

"I have to think about other things on vacation, so this is also called vacation..." Da Yuer felt a little resentful.

"Since it's a paid vacation, of course it's not that easy. Help me think about the issue of currency reform. Now the silver ingots are of different colors in different places, and there is no regulation at all. The broken silver is randomly cut into smaller pieces when trading, and re- Melting and casting silver ingots will cause losses. There are also copper coins that are more commonly used by the people. In order to make up for military expenses during the Tianqi period, the imperial court ordered all local governments to search for scrap copper and old money, and cast a large number of low-quality copper coins as military pay or forced to purchase materials from the people. , Bad money drives out good money, seriously disrupting the normal financial order, and now these copper coins are still in circulation." Chu Yun said.

"Does the military leader want to issue banknotes, or recast metal coins?" Da Yuer understood what Chu Yun meant.

"In the past, the indiscriminate issuance of precious banknotes made people uneasy about banknotes. We should not be too radical. Cast silver and copper coins according to the same specifications, and recycle old copper coins and ingots...Our current coinage technology is due to the use of machine tools and corresponding The machine can mint more regular coins. The unified specification and value will also facilitate currency exchange with other countries in the future, making our currency the standard of the world." Chu Yun expressed his ambition - to mint new money, and Let countries trade with new money.

Now that the Spanish silver dollar dominates the world, Chu Yun wants to replace the Spanish silver dollar with his own minted silver dollar and mint new copper coins to meet the transaction needs of ordinary people.

"In addition to silver dollars and copper coins, we mint gold bricks as reserves and issue bank notes as auxiliary currency. What do you think?" Da Yuer thought for a while.

"Clarify the silver standard, so that bank notes can be freely exchanged for gold and silver." Chu Yun said.

"Yes, although China lacks gold mines and silver mines, due to trade, a large amount of gold and silver have flowed in, especially silver. The silver standard is currently more suitable." Da Yuer said.

"The reason why a large amount of gold is kept as a reserve is because..."

"When silver production increases sharply in the future, the price of silver will fluctuate, and its low weight and price are not suitable for huge payments. At that time, it will transition to the gold standard. Even if paper money is used instead of silver dollars and copper coins in the future, gold reserves are still needed."

"The price of silver also needs to be stabilized, because a large amount of silver flows into our country, which leads to the depreciation of silver. We need to produce more and higher value-added commodities to digest these silver."

Chu Yun and Dayuer chatted about the currency reform, and they were very speculative. They chatted for more than an hour without knowing it, until Princess Sophia, Sarina and others were about to leave.

"The new minting machine is undergoing final adjustments, and it will take some time... You can try to think about the various processes of currency circulation during this period of time, and if you have any problems, record them and report them to me. You can also go to In the Economics Department of the Academy of Sciences, in addition to Adam Smith and other people you are familiar with, there is another group of people who understand economics and banking, and they may give you more inspiration." Chu Yun said.

These newcomers are of course economists newly summoned by Chu Yun using the system, and their theories are more advanced than classical economics.

"I will often go to the Academy of Sciences during this time." Da Yuer was a little excited when he heard that there were new people coming in from the Academy of Sciences.

"Whether it's a Western trading company or minting new coins, it takes a while to prepare, so you don't have to feel too much pressure. You don't need to be responsible for this accident." Chu Yun said.

"This subordinate understands." Da Yuer replied.

"The transfer of you back this time is not only for your safety and to let the people in Dongying relax their vigilance, but also for a very important reason... Your elder brother Wu Keshan once asked me in private that you are not young , I don’t want you to continue working outside, and I think you need to stay in the capital. I agree with his request..." Chu Yun explained some reasons behind it.

"It turns out that there is still a big brother...he didn't say anything more?" Da Yu'er asked worriedly.

"Does he have other things?" Chu Yun asked suspiciously.

"No, no, the subordinate will leave first."

Da Yuer breathed a sigh of relief, and left with Sofia, Selina and the others.

After Da Yuer and the others left, Chu Yun always felt that there was something wrong with Da Yuer's expression just now, especially the fanaticism in his eyes.Although Da Yuer had a little respect for him before, a calm person would not show his fanaticism on the surface.Is there something wrong?Or tell me which link I missed...

"Judging from the news disclosed by Da Yuer, the merchants trading in Japan have come up with many ways to avoid taxes. If they have any appeals, they can speak out, but once they touch the law, they must pay the corresponding price. Violation of the law is Absolutely not allowed. If they have the ability to interfere with taxation now, our finances may collapse due to lack of taxation in the future. The Intelligence Department needs to send more people than originally planned to find out this matter and catch the leader Let’s kill a group of people to warn others.” Chu Yun regards taxation as very important, and all his projects are waiting for capital injection. Once the capital chain is broken, it will not be considered bankruptcy, but it will lead to delays in projects.

Every major project is very important to Chu Yun, and he wants to make technology develop as fast as possible.

Chu Yun collected a lot of business tax for industrial construction, but he made these businessmen earn more!Without Chu Yun, those merchants would not have been so active, and they had many privileges in Dongying, Korea, and Nanyang, and they didn't have to worry about pirates.

"I asked the chief of the second section to personally take people to Edo Castle and Yokohama Port to thoroughly investigate the matter." Ella said.

There are four sections in the intelligence department, only Wei Long of one section has his identity exposed because he needs to come forward to represent the intelligence department. The section chiefs of the other three sections have been keeping secrets, and no one knows their real names.When they make a move, it usually means that someone is going to be in trouble.

"Wang Changyuan, a businessman from Wuhu, is also a big businessman involved in the trade with Japan. From the beginning of his investigation, if he is clean, then I still need him to help me." Chu Yun thought for a while and said.

(End of this chapter)