Ming Dynasty: I am truly not the Emperor of Longevity

This bank also accepted various types of coins, including gold and copper coins.

When depositing, regardless of the original type, it must be exchanged for silver at the market price at that time.

All deposits and remittances are denominated in silver to ensure the uniformity of the local currency.

When someone withdraws money, silver is paid first, while gold and high-quality "good money" are mainly kept as reserves and only used when silver is insufficient.

All the privately minted inferior coins were transported to Yunyang Prefecture, where they were melted down and stored as copper.

Most people in this era are unaware that the era of gradual devaluation of silver has arrived.

Both copper coins and gold have appreciated slowly year by year relative to silver.

At that time, one tael of gold could be exchanged for about seven taels of silver in China. Prices would fluctuate slightly in different regions, but by the Tianqi era, the gold-silver ratio would rise to about one to ten.

By the end of the Chongzhen era, the ratio had reached 1 to 13.

During the Jiajing era, the official price of "good coins" such as Yongle Tongbao and Xuande Tongbao was 700 cash for one tael of silver. However, due to the proliferation of inferior coins, their actual purchasing power among the people was even higher.

By the late Wanli period, "good money" had risen to five hundred cash for one tael of silver.

This is why Lu Chen converted all the reserves he had deposited into the bank into gold.

It's not just about preserving value and combating silver inflation, but also about artificially intervening in the gold-silver price ratio to reduce the outflow of gold.

In the maritime trade of the late Ming Dynasty, European merchants, Japanese merchants, and Chinese maritime merchants were all playing the game of currency arbitrage.

At that time, the gold-silver ratio in Europe was already 1 to 12.

In the Ming Dynasty, silver was exchanged for gold at a rate of one to seven, and the resulting profits when brought back to Europe were enormous.

Many people believe that the gold-silver ratio in Japan was lower than that in the late Ming Dynasty, even as low as 1 to 4, but this is actually a major historical misconception.

Japan's gold-silver ratio did indeed have such an absurd period, but that was during the later period of the Tokugawa Shogunate, when the country was closed off for a long time, and because silver was the circulating currency in Japan at that time, the price of silver was artificially inflated.

Before the Jiajing reign, the gold-silver ratio in Japan was indeed slightly higher than that in Ming China, around 1 to 6, which created some arbitrage opportunities.

However, starting in the fifth year of the Jiajing reign, Iwami Silver Mine began to use advanced technology for large-scale mining, and it has been more than ten years since then.

Although this super silver mine's output was not as high as the three super silver mines owned by the Spanish in the Americas, it was still a monster-level existence in East Asia.

The production capacity of a single mine is nearly ten times that of the entire production capacity of the Ming Dynasty.

Moreover, Japan has many small and medium-sized silver mines, which would also be considered rich mines if placed in the Ming Dynasty.

The combined production capacity of these silver mines is almost equal to that of the Iwami Silver Mine.

By the Wanli era, the annual silver production in Japan had reached as many as two million taels!

At this time, Japan was in the midst of the Warring States period, and the daimyo of various regions were independent kingdoms. There was no unified national government, and their commercial activities abroad were entirely governed by market principles.

By the mid-Jiajing period, Japan's gold-silver ratio had already caught up with that of the Ming Dynasty, and would soon surpass it.

By the late Wanli period, the gold-silver ratio in Japan had risen to about 1 to 14, while the gold-silver ratio in the Ming Dynasty was less than 1 to 10, creating a huge arbitrage opportunity.

This is one of the reasons why the various hegemons of the East China Sea during the late Ming Dynasty regarded the Sino-Japanese sea route as a top priority.

From the mid-Jiajing period onwards, the Ming Dynasty's gold reserves were in a state of continuous outflow.

Although gold was not the legal tender of the Ming Dynasty, its value was recognized globally, and its inherent monetary attributes required no endorsement from anyone.

As a reserve, gold is perfectly fine.

Lu Chen's plan was to keep gold in the bank as much as possible, with the gold being used as reserves and only in special circumstances where silver was insufficient to cover the payments.

The money exchange was not a currency exchange shop and did not handle the exchange of silver for gold.

The silver earned from the self-operated maritime trade business managed by Chen Yunniang will eventually be converted into gold and deposited in the bank.

As the maritime trade business expands, the annual increase in gold reserves of the banks will be astonishing.

With less gold circulating in the market, the gold-to-silver ratio will naturally increase.

The gold reserves held by the banks will also continue to appreciate in value.

Just like before Lu Chen transmigrated, in another dimension, global central banks frantically accumulated gold reserves, causing gold prices to soar year after year.

Gold, as a reserve asset, is intended to be used as little as possible, and there will be no sudden large-scale influx into the market that could cause a price collapse.

Placing assets in banks as a ballast can continuously increase book assets and make reserves more sufficient.

. . .

The capital city, the Western Garden.

"If Your Majesty stays in seclusion and does not engage in external affairs, then gold can be produced and the elixir of immortality can be obtained."

After Duan Chaoyong finished speaking, he bowed to the Jiajing Emperor once again.

What is this guy trying to do?!

Upon witnessing this sudden turn of events, Tao Zhongwen, who was standing to the side, was so shocked that cold sweat broke out on his back.

Looking at Guo Xun, the Duke of Yi, opposite him, this guy actually had a smug look on his face.

I've been tricked! I shouldn't have been greedy for that ten thousand taels of silver!

I just told the emperor myself that Duan Chaoyong is highly skilled in magic and alchemy, and is a rare talent in the arts!

When I met the emperor today, things initially went according to the script I had imagined.

With recommendations from both himself and Guo Xun, two of the emperor's favorites, the emperor indeed trusted him completely and began to treat Duan Chaoyong with special regard.

Upon hearing Duan Chaoyong's claim that he could contribute 40,000 taels of "celestial silver" annually to fund the country, the emperor was overjoyed and immediately bestowed upon him the title of "Purple Palace Loyal Scholar," granting him the salary of a fifth-rank official.

Originally, it was thought that Guo Xun was a fat sheep that Duan Chaoyong had his eye on.

Having found himself in a difficult situation, Guo Xun, not wanting to be punished for deceiving the emperor, had no choice but to pay out of his own pocket to cover the losses.

Unexpectedly, after receiving the imperial decree, Duan Chaoyong continued to advise the emperor.

If it were just flattering the emperor and saying some words of praise, that would be fine.

However, Duan Chaoyong actually started boasting to the emperor about "gold" again!

This "gold" is not ordinary gold, nor is it "fake gold" made by mixing calamine and copper together.

It is the "medicinal gold" in Taoist alchemy, also known as "immortal gold".

This "gold" was refined in an alchemical furnace, formed from minerals such as lead and mercury through a process of "enlightenment." It is said to contain "Dan Yang Qi," a catalyst for the elixir of immortality.

According to Duan Chaoyong, if this "gold" is used to make immortal plates and immortal pots to hold food, and to refine elixirs, one can transform a mortal body into an immortal and achieve immortality.

Is it even appropriate to say something like that?!

The emperor was single-mindedly pursuing the Dao, hoping that one day he would achieve enlightenment and attain longevity.

But everyone knows that this is just wishful thinking.

Throughout history, countless emperors have pursued immortality, but in the end, none of them could escape death.

He assisted the emperor in his cultivation of Taoism, providing support from the sidelines and answering the emperor's questions.

They never dared to make any explicit promises regarding immortality.

If he succeeds, it's because the emperor has achieved success in his cultivation; if he fails, it's because the emperor lacks the affinity for immortality.

If those two want to die, they shouldn't drag themselves down with them!