Daming: I can’t kill such a greedy prince-in-law?

With Zhou Bao and Shen San in charge of the affairs of the China Securities Regulatory Commission and the Central Bank, Ouyang Lun naturally felt a lot more relaxed!
Of course, Ouyang Lun was not completely idle. He soon called all the heads of several official newspapers of the Ming Dynasty and several representative private newspapers. There is a rule in war that food and fodder must be sent before the army moves, and it is natural that public opinion must come first in governing the country.

The issuance of a new currency is not something that is easy for ordinary people to accept. If public opinion is created in advance, it will inevitably make the issuance of the new currency extremely difficult!

"Please rest assured, my Lord, we know what to do!"

"How can we issue a new currency that benefits the country and the people without the participation of our newspapers?"

"As long as the prince consort gives the order, we will immediately take action!"

"With the development of the newspaper industry, our newspaper can be said to be full of talents, and we can definitely make hard money."

Watching the newspaper leaders in front of him express their opinions one after another, Ouyang Lun nodded slowly, "Well, not bad, not bad. You have been trained over the years. I am not worried about the newspaper's propaganda ability, but you must be careful about the content. The principles of reporting. You can have a certain tendency, but you must not be untrue, and you must not treat the people as fools."

"We must treat the people as our own people, so that they can become our supporters. We should consider issues from the perspective of the people. This is what we call coming from the people and going to the people!"

After hearing Ouyang Lun's words, the newspaper executives naturally nodded frequently.

"Please rest assured, Lord Prince Consort, I have been conscientiously implementing your instructions!"

"Yes, yes. We are now sending reporters to the most remote places to understand the situation of the most difficult people!"

“Not only grassroots journalists, but even those of us in charge will follow our own reporters to the news scene to collect information.”

Hearing this, Ouyang Lun nodded slowly and smiled with satisfaction, "I am very happy that you can have such an idea and take action. The future of the Ming Dynasty requires everyone's joint efforts."

"Okay, all of you go down and prepare. Reports on the new currency should be made into a series. Don't reveal all the information at once. We need to create a continuous discussion, tell the people little by little, and let the people discover the benefits of this new currency themselves!"

"I suggest that you give the China Securities Regulatory Commission and the central bank an interview if you have the chance! If you have other good ideas, please share them."

After Ouyang Lun said this, the newspaper executives immediately started talking.

"Your Majesty, I think that the new currency, the new currency, the focus is naturally on the new currency. Our newspapers can do a special report on the new currency, such as a comprehensive report on the research and production of the new currency!"

"Our newspapers can start from the function of the new currency and use discussion to let the people understand why the new currency is issued and the benefits of the new currency!"

"Then my newspaper will narrow down its news targets. I plan to invite a scholar who is well versed in currency research to be a guest of our newspaper, and let our reporters do a few exclusive interviews!"

“We are here.”

These responsible persons are now veterans in the newspaper industry and are adept at many reporting methods.

"Not bad, not bad. You are indeed becoming more and more professional. Just implement your respective plans."

Ouyang Lun nodded again.

Afterwards, Ouyang Lun chatted with the newspaper executives about other topics and ended the meeting.

Half a month passed quickly.

"My Lord, the new currency has been printed!"

Shen San came to Ouyang Lun holding the new version of the currency.

“How many were printed this time?”

Ouyang Lun looked at the new currency and asked.

"The first batch of currency is 100 million!" Shen San said helplessly, "Sir, our gold reserves are not enough. It is already very difficult to issue 100 million new currencies."

Ouyang Lun frowned, "Didn't His Majesty order the civil and military officials to use their gold to buy the new currency? If I remember correctly, I used 60 million worth of gold to buy the new currency. You mean the Ming Dynasty's treasury plus the civil and military officials combined don't have as much as I do?"

"Ahem, this is what Prince Consort said." Shen San said awkwardly, "This time it was all thanks to you for taking out 60 million in gold, otherwise the first batch of currency issued would not even have 50 million."

"But, Prince Consort, your 60 million subordinates have already been converted into national debt for you, and interest will be calculated for you every year."

Seeing that Shen San had already made arrangements, Ouyang Lun was too lazy to bother about these things anymore. "It was me who proposed this suggestion, and everyone knows that I have money. Let's just say that the 60 million is an investment. I don't plan to get it back in the short term!"

"Oh, by the way, how much did the civil and military officials give out in total?"

"In reply to your Majesty, up to now, the value of the gold taken out by civil and military officials is less than five million," Shen San said truthfully.

"Five million?!" Hearing this, Ouyang Lun was stunned for a moment, "Those civil and military officials only paid less than five million? Are they treating beggars like beggars?"

"Your Majesty, calm down. I think the total amount of gold in the hands of these civil and military ministers must be more than five million, but many of them are not open to the public. In addition, this new currency has just been released, and they dare not invest too much real gold and silver in it. After all, they are not sure whether this new currency will depreciate as quickly as the treasure notes, and these civil and military ministers still have a large amount of treasure notes waiting to be exchanged for the new currency."

Shen San spoke quickly.

After hearing Shen San's words, Ouyang Lun also calmed down.

"Old Shen, you are right. People are profit-driven. If there is no benefit, even if they are asked to exchange all the gold in their hands for a piece of paper, they will definitely not do it. If even the officials think so, the people will probably be even more resistant to the new currency!" At this moment, Ouyang Lun also felt that he might have underestimated the acceptance of officials and people towards the new currency.

Even though there are media outlets such as newspapers, they are, after all, taking real money from officials and the people. If there is no benefit, the effect of implementation will certainly be poor.

"Your Majesty, it seems that issuing new currency will be more difficult than we thought. However, unifying currency is a general trend. We can do it step by step. According to my calculations, it will take about ten years to replace all the currencies on the market with new ones. Apart from this, other methods will be risky. The Ming Dynasty's economic situation cannot withstand such turmoil." Shen San analyzed seriously.

"No, ten years is too long. Based on my understanding of the emperor, he will definitely not agree to take that long." Ouyang Lun waved his hand.

"Then what should we do?" Shen San asked hurriedly.

"Old Shen, what did you just say?" Ouyang Lun seemed to have thought of something and asked quickly.

"My subordinates said that according to the current situation, it will take a long time to achieve national currency unification!" Shen San replied.

"Not this sentence, go forward." Ouyang Lun asked.

"That means there is no benefit. Others are unwilling to turn the gold and silver in their hands into a piece of paper." Shen San answered again.

"It's not this sentence, but what did you just say you did with my 60 million?" Ouyang Lun asked directly.

"National debt!" Shen San continued, "Currently, among the stock exchanges in various places, the yield of Ming national debt is not the highest, but it is the safest. More importantly, it has the highest interest rate among all the principal and interest guaranteed investment and financial management. So, my Lord, there will be absolutely no problem with your 60 million. Even if there is a problem, the state will give priority to compensation at that time."

"Please rest assured, my Lord!"

"Yes, that's it!" Ouyang Lun nodded with a smile, "Old Shen, didn't you just say that if we don't give some benefits, the people will have no enthusiasm to exchange their gold, silver and copper for the new currency!?"

"Yes! Because the currency price needs to be stable and it is linked to gold, we cannot let the currency appreciate. This problem is indeed a headache. I have called together officials from the central bank to discuss it several times, but we have not come up with a practical solution. If we give money directly, we cannot afford to subsidize so many people in the Ming Dynasty." Shen San shook his head helplessly.

"Give them money to convert into bonds like I did!" Ouyang Lun said slowly.

"Money into bonds?!" Shen San was stunned at first, then his face lit up, "Your Majesty, you have to have a solution! We can't give money directly, and we can't increase the value of the new currency, but we can turn them into government bonds. Government bonds have good returns, but the key is that ordinary people can't buy government bonds!"

"It's just that if so much treasury bonds are released at once, will it cause economic turmoil and lead to a decline in treasury bond yields? If the treasury bonds collapse, then it will be a big problem!"

In response to Shen San's worries, Ouyang Lun waved his hand and said with a smile: "Don't worry about this! Not only will the national debt not collapse, but it will rise again!"

"Of course, we can't let these people exchange all their gold for government bonds. There have to be some restrictions. For example, if you exchange gold for 1,000 taels of new currency, you can get 500 taels of government bonds. In short, the more new currency you exchange, the more government bonds you can buy. If it becomes too popular later, you can also open up the exchange of silver and copper coins for the new currency!"

"Gold is a dead thing in your hands after all. It can't make money. But it's different if you change it into government bonds. You can get at least 5% interest every year, and the principal and interest are guaranteed!"

"I just don't believe that there would be anyone who wouldn't be moved!"

Shen San nodded and gave a thumbs up, "My Lord, it has to be you!"

"I really admire you for coming up with this idea! You really should be the governor of the central bank!"

"I just let you take the position because I don't want to be one. Anyway, I have given you a solution. As for whether you can accomplish this task, it depends on you." Ouyang Lun smiled and patted Shen San's shoulder. "Old Shen, I have great faith in you. Don't let me down!"

"Please rest assured, Your Majesty. Thanks to your acceptance and trust, I have the opportunity to start over. You have even thought of a way for me. I will definitely not let you down!" Shen San spoke solemnly, thinking for a moment, and then spoke again, "But Your Majesty, using national debt to attract officials and people to exchange for new currency is not a long-term solution. What should we do in the future? Please make it clear to your Majesty!"

"You are so good, Old Shen. I have solved the problem in front of you, but you are still greedy and want me to solve the problems behind you. Then why do I want you to be the governor of the central bank!?" Ouyang Lun said unhappily.

"Hehe, Prince Consort. Although I, Shen San, do have some ability in business, I am far inferior to you, Prince Consort. I also know that you already have a complete plan. I am just an obedient subordinate who carries out the plan! But don't worry. I will handle these things according to your requirements!"

Shen San said with a smile.

"Eh? Old Shen, you've learned bad habits so quickly! It must be that guy Zhou Bao who taught you!" Ouyang Lun looked at Shen San in surprise. You know, Shen San used to be a diligent person, and letting Shen San be in charge of the silver cabinet never made Ouyang Lun worry!
"Master, this is not Brother Zhou Bao's fault. In the past, I, Shen San, was arrogant. Even after joining your team, I was quite confident in my abilities. But after Brother Zhou Bao told me, it was like an epiphany!" Shen San hurriedly explained: "Master, you are the one who understands business the best in the world. I have to follow you and learn from you all the time!"

"Uh..." Ouyang Lun looked at Shen San in surprise, "Old Shen, I was originally worried that you would not be used to the officialdom, but now it seems that you can not only adapt to it, but also do it very well!"

"Forget it, forget it. Since you've said that, if I don't show you a clear way, it would seem that I am a little stingy."

"Using national debt to attract people to exchange for the new currency is certainly not a long-term solution. This is limited to the first batch. After the first batch of new currency is issued, for example, canceling the currency status of gold and silver will be put on the agenda. Of course, it cannot be a one-size-fits-all approach. We have to give everyone time to sell their gold and silver. Then we will announce that paying taxes, buying houses and land, etc. will all require the use of the new currency in the future. Of course, in the future, the court will also directly pay for the salaries of officials, the food and wages of soldiers, etc. with the new currency!"

"I believe that with this combination, the new currency will be able to establish its dominant position in the Ming Dynasty's economy!"

"So, how long do you think it will take to completely unify the currency?"

Hearing this, Shen San lowered his head to think, and after a moment he raised his head again and said solemnly: "Master, if I follow your method, I am confident that I can unify the currency of the Ming Dynasty in three years!"

"Three years!?"

Ouyang Lun immediately shook his head, "No, no, three years is still too long!"

"Master, from ten years to three years, this has greatly shortened the time! The promotion of this new currency is very large. If we rush into it, it may have the opposite effect!" Shen San said hurriedly.

"Of course I know this! But I will only give you one year. Within one year, the currency of Ming Dynasty must be unified!" Ouyang Lun said firmly. (End of this chapter)