The important position of credit in modern economics, especially finance, is no longer self-evident. The main reason why anyone knows that the world's currency is the US dollar rather than the Zimbabwean dollar is that the credit of the US government or the Federal Reserve is at least the most "not bad".

Of course, it was obviously a dream to use government credit to send paper money in the feudal era.

Although the feudal era in China was generally relatively peaceful, it was followed by the alternation of chaotic and prosperous times. Whether it was ordinary people or noble families, they were born to have no trust in the court.

What's more, the bleak situation in the late Tang Dynasty is still vivid in my mind. If a banknote with a government background is really created, the result will undoubtedly be the remnants of the people.

Looking at the history of China, whether it is the flying money in the Tang Dynasty or the Jiaozi in the Song Dynasty, it is actually not a real banknote, and even the currency in circulation cannot be counted. The first type of banknote is the silk silver note that was found in the Yuan Dynasty. It is stipulated that silver is used as the unit of measurement, and anyone holding a bill can exchange it for two cents of raw silk.

It should be said that silk silver notes are quite good paper money, but unfortunately as the Yuan Dynasty became increasingly corrupt, the agreed exchange rate eventually became a piece of paper.

When the Hongwu Census Act of the Ming Dynasty was in Hongwu, this thing was probably the same as the currency of Zimbabwe and Venezuela.

However, to solve the problem of insufficient currency in the Southern Tang Dynasty or the entire feudal era in China, there is no other way except to sell paper money. Unless it is necessary to find a way to import a large amount of silver through gunboat diplomacy, it is not a matter of time.

Therefore, Li Yu decided to try to guide the people of Southern Tang to gradually accept other forms of currency other than metal and silk through step-by-step methods.

The emergence of the promissory note is to inform the world that the goods can exist in another way.

At the same time, I also want to promote the further prosperity of Southern Tang commerce through the transformation of Dechang Palace. The most important thing is to make Dechang Palace have unparalleled credit.

In this way, there will be users after the promissory note.

The final death of flying money in the Tang Dynasty was that the governors were ill-hearted and were not ashamed of money, and they directly destroyed the capital of the government or merchants for money. Just one or two similar behaviors were enough to completely collapse the credit of the entire system.

This is something that Li Yu could never accept, so he had to find a way to get the position of Dechang Palace and put the entire process under his own control.

Finance will bring huge profits. The promissory note is only the first step in the Long March. Although it cannot make any money, it can cultivate the basic financial system and concepts of the Southern Tang Dynasty and lay a solid foundation for future progress.

The promissory note he made was exactly the same as the product of the same name in his previous life.

The so-called bank promissory notes refer to bills in which the bill holder unconditionally pays a certain amount to the payee on the due date. This kind of bill only involves both the issuer and the payee. The drawer signs the promissory notes and the payment obligations of the bill.

Promissory notes in previous lives were divided into bank promissory notes and commercial promissory notes. The difference is that the former allowed the bank to sign, while the latter could sign both cats and dogs. However, at that time, only the former was allowed in China. The latter was regarded as the source of chaos and was directly prohibited.

I have to say that this is a virtue. Commercial promissory notes in Baodao area often create social chaos. This thing has an extremely awesome feature. "When the issuer cannot promise payment, he can go through the law to directly seize his property."

The big guys in the line of the line have this thing, which means they have obtained a license to legally invade private territory and infringe on their rights.

The bank promissory notes are said to be the one who takes this note to sign the bank and can receive the amount of banknotes or transfer money on the bill.

Since it is impossible for banks to refuse to admit their accounts, large amounts of bank cash promissory notes in modern society are often regarded as a type of banknote.

Li Yu remembered that in the early years of the reform and opening up, due to the significant high economic growth in Guangdong Province, the third set of RMB with a maximum of ten yuan worth of RMB was no longer able to do so in circulation. After all, it was always tens of thousands or tens of thousands of transactions, and thousands of dollars, which was too tiring to count.

So the local People's Bank branch sent part of the fifty and one hundred yuan promissory notes to be directly invested in the circulation field for easy settlement, and the result was naturally stopped by the headquarter.

Similar things were also born in Shanghai in the late Qing Dynasty, but that was a variant promissory note called banknotes.

Signed by the bank, only

The applicant needs to deposit a sum of money in the bank, and the amount of the bank ticket signed must be less than this deposit.

Once the banker ticket is signed, it will go directly to the circulation field for large-scale payments. In that era, it would undoubtedly be a shameful thing if anyone took a banker ticket on the spot, and it is also an excellent proof of his own economic strength. After all, the starting amount of the early banker ticket was 1,000 taels of silver.

In the circulation field, the banknotes enjoy the same status as currency and can be circulated and used multiple times, which greatly reduces the carrying cost of currency.

Since the banker's ticket must be deposited first before it can be issued, the collector does not have to worry about not being able to cash it. This is not much higher than the check. There have never been only short checks, but I have never heard of short banker's tickets or short bank promissory notes.

As can be seen from both of the above things, bank promissory notes are a very useful primary financial product, with the advantages of low risk and high credit for carrying and can be cashed out at any time.

It is just suitable for the feudal economy of the Southern Tang Dynasty.

It’s not that Li Yu had thought of getting something high-end. With his professional ability, he could do it in Nantang, but nothing could be accomplished overnight, especially the monster raised by modern finance.

If you use the products from your previous life casually, you will be very beautiful in the early stages, and loopholes caused by the limitations of the times over a long period of time will come one after another, making moral politics a chaotic politics.

With the idea of ​​being careful and no big mistakes, Li Yu also made a lot of revisions to the promissory note of Nan Tang, making it look more stable.

The upper limit is half of the assets of Dechang Palace.

The second rule is not to consider liquidity for the time being. Li Yu feels that as long as Dechang Palace has a reliable credit, it will be a matter of time before these merchants become familiar with promissory notes, and this thing will enter the circulation field without even needing to promote it themselves. The merchants' profit-seeking nature will naturally choose the most convenient and safest way.

In addition, there are only four cities currently open. On the one hand, there is not enough manpower and cannot be too open. On the other hand, there is no need to be so anxious in other cities.

As for why a company was opened in Wuchang, one was that there was a copper mine near Ezhou that could mint coins, and two was that although the business was not as good as Sanduda, it was not stressful to rank in front of the second group.

The most important point is that he knew that once the war between Southern Tang and Ma Chu broke out, he would probably be thrown out as a military supervisor. Bian Hao's army was stationed in Ezhou, so he would hit a nail there first, and he could attack and retreat or defend. The person who photographed Wuchang was one of Pan Chenghou's confidants, and he was also a member of the Inners and was very good at collecting intelligence.

The war against Ma Chu is expected to start within the year. It is possible to establish its own intelligence system on the front line to collect various information, and then supplement it with a large amount of information and documents in Chengxin Hall. Li Yu felt that although it may not be of great use, it would at least make him feel more at ease, especially for the general Bian Hao, he would have to spend a lot of effort to understand it.

The above took Li Yu's countless saliva and brain cells and explained it to Li Jing one by one in the palace.

At this time, I have to admire the mind of this saint. These things may be difficult for a modern person who is not an economic professional to understand for a while, but after listening to him in full, Li Jing understood roughly.

This made Li Yu feel very moved. His mind was really good. If I had used more thoughts to govern the country, would I be so tired? I would have been taking the beauties around me for a long time. Why should I join the throne and fight for this bad thing?

With the imperial edict to open the Royal Dechang Palace Bank circulating everywhere in the Southern Tang Dynasty, a large amount of gold and silk were also transported from the general number of Dechang Palace Bank in Jiangning, either shipped or oxou, to the east, southern and Wuchang.

Li Yu also took special care of him. He must not make a fortune while transporting, but must make great contributions.

The show doesn't have to be big, but the publicity is strong enough. As a result, the eunuch in charge of this matter is really good. He borrowed several musicians from the Jiaofangsi, and sang or danced at the bow of the transport ship. Sometimes he would let the musicians go up and perform their own skills.

The guards were doing well along the way, so they were naturally doing a real job. When they went to Wuchang, Bian Hao sent several teams of Xiongwu troops to pick them up and drop them off.

Li Hongji, the Eastern Capital, followed suit and released several teams of Tianxiong troops to protect the whole process.

Although there are 6 thieves in the Southern Tang Dynasty, and there are still several of them that are very riots and are under the banner of rebellion, the mobs can kill the common people. When they encounter an organized elite army, they are similar to those of eggs and stones.

The Xiongwu Army and the Tianxiong Army are indeed not very good at fighting against the pseudo-Hans in the north or the Khitans in the north, and it is no problem to deal with the thieves. Those rebels became the contribution of Bian Gao.

Moreover, the Bian Gao also showed that fighting the rebels in the country saves more effort than destroying the country. The latter is really a stubborn move, while the former often sets up a formation and charges, and then asks the military supervisor to write high street documents.

Therefore, the sound of beating drums and drums along the way attracted the gaze of countless green forest heroes, but they all knew it themselves, "Look at it, it's not illegal!"

The news on the Green Forest Road was the most informative, and Li Yu was able to create momentum. The Wuchang Branch of the Royal Dechang Palace Bank and the Nandu Branch each stored one million stags of gold and silk, while the Jiangdu Branch had two million stags of gold and silk. The news that the Southern Tang Dynasty had enough food and had nothing to do was to do.

When the transport team arrived at the destination city, they did not rush to transport the goods into the semicolon, but were guarded by the army. After driving the ox cart filled with silk and copper coins, they walked around the city twice before slowly going to the semicolon to unload the goods.

This was also specially taken care of by Li Yu. Inspired by his past life, whether it was a bank in the Qing Dynasty or a bank in the Republic of China, his peers would bring a lot of silver or banknotes to congratulate him, and it was known as the city as possible, in order to increase the conversations of idle people and create an advertising effect.

It was only half a day between Jiangdu and Jiangning. Guo Gangde and Yuzhan also ushered in their own good days and were arrested. They asked them to go to Jiangdu for a walk when they had nothing to do and do common sayings in the teahouse. The key is to add some private goods when they say that they should promote the saints' wealth in the world. Dechang Palace casually brought two million yuan to Jiangning to make it more convenient for everyone to do business.

Or this world is the world of saints, and saints will live for decades to become more and more fun.

All of this naturally failed to escape Li Hongji's eyes. The Runzhou Jiedu Town centered on Jiangdu was operated by him for many years like an iron bucket, as long as he was willing to know everything.

At present, he was summoning his subordinates to discuss matters and said about these two million things. Everyone was also talking about it, and they always felt that Li Jing was uneasy.

Instead, the prince was free and easy, and threw out a private message from Li Yu to make it circulated by everyone.

Li Yu said in the letter that this idea was what he came up with to facilitate all kinds of wealthy merchants. Jiangning and Jiangdu are the most lively cities in the world. If the bank and promissory notes can be implemented, it will definitely make the prosperity of both of them a higher level.

Li Hongji likes to hear this, because he can draw more taxes to raise soldiers, so he sent Tianxiong Army to escort him.

As for where Li Jing was, he didn't want to transport the two million yuan to Dongdu. Although Li Jing was generous, he would not have lost all his heart and put such a large sum of money on his eldest son who was incompatible with him.

But Pan Chenghou's words dispelled his concerns. He hinted that Li Jing was a member of the Inners' Office, and the Dongdu Branch is their stronghold. In the future, the investigation of the news will lead to a safe end. After all, Dechang Palace is the emperor's private treasury. Although Li Hongji is bold, he dare not send people to break through. This means that both sides have torn apart.

Secondly, the number of copper coins and promissory notes collected and exchanged from the East Semiconductor can also infer the economic situation of Dongdu from another perspective.

This is something Li Jing did not expect before. Economic intelligence has become an important part of intelligence in Li Yu's previous life. To some extent, it even passed military and political intelligence. By obtaining economic information, it speculates the strength of opponents, finds the weaknesses of opponents, and then uses it, which has become the standard action for major powers to play games.

Li Hongji has not paid taxes to Jiangning for several years. He kept complaining to Li Jing that the business in Jiangdu was not as prosperous as before in wars, and Jiangning's halving of the tax on entering the city has led to business outflows.

He also maintained the Tianxiong Army to prevent sneak attacks from the pseudo-Han and Wu Yue, so he was economically surprised. In the end, he even asked Li Jing to allocate funds.

Li Jing naturally would not give money, but he also pinched his nose and agreed to his behavior of intercepting taxes.

At present, Pan Chenghou proposed that the economic situation of the entire Dongdu can be estimated from the perspective of the deposit and withdrawal of wealthy merchants. This idea made Li Jing's eyes lit up, and Pan Rong was immediately promoted to a fourth-rank literary official.

Wu Qiao, the top scholar here, was hammering the table and spitting: "Crown Prince, you are two million coins, are you not moved? You are not moved but I am moved. Although I am a civil servant, I have a few pounds of strength and have a few good friends. It is better to take advantage of their lack of stability tonight."

"Are you going to steal the camp and rob the village?" Li Hongji showed a laughing and crying expression in a rare manner.

"Crown Prince, aren't you worried about military pay lately? I'll go and take the big vote. After finishing the matter, I pushed the bandits. At that time, you will give up a form of apology and say that you are a governor but you have not kept the security in the city. Ask the saint to waive your position as a governor. If we brothers make trouble, you won't be able to leave. At worst, you will be paid for a few months."

"Wu Qiao, aren't you the top scholar? Why are you more like Qiu Bazi than me, Qiu Bazi?" Chai Kehong was also rubbing his forehead.

I'll give it to you after I finish writing naked every day recently
Chapter completed!