On the Science Number that is moving against the current.

Lin Run subconsciously twisted a piece of white, tender and cute nougat and sent it to his mouth to taste it. I went there, it was much better than the ones on the market.

Lin Zhongcheng, who loves sweets, resisted the urge to do it again.

He asked again: "What's the Jiangnan Bank you want to open?"

"Zhongcheng can regard it as an upgraded version of the money house. We will optimize and improve all the functions of Wuji Money House to make it a stronger one..." Mr. Zhao thought for a moment, but still couldn't find a suitable word replacement, so he had to smile bitterly:

"Money house."

"Hi," Lin Runbai wasted some feelings and pointed at Zhao Hao and smiled: "Old wine in new bottles."

"This name sounds better. Silver is more expensive than money, and business is bigger than a farm." Jiang Xueying said to Zhao Hao: "Brother wants us Jiangnan Bank to surpass all the money houses in the world." As she said that, she glanced at Lin Run and said, "This is inseparable from the support of Zhongcheng and her husband's ancestor."

"This court just said, I will give me papaya and give me Qiongju." Lin Run nodded quietly and said, "Of course we must repay you with such great sacrifices for the mansion."

After saying that, he sat up straight and said seriously:

"But Jiangnan Company proposed that from now on, all the silver handed over to the government of Suzhou Prefecture must be deposited into Jiangnan Bank first, and then the Jiangnan Bank will issue silver coupons. The government only collects silver coupons issued by Jiangnan Bank and no longer directly collects cash coins from the people... These silver coupons are good tickets, right?"

"Absolutely, the only difference is that the silver coupon is not registered." Mr. Zhao replied with a smile: "The Zhongcheng can also call it silver coupons."

"This will save a lot of trouble." Lin Zhongcheng tapped the table lightly and thought: "And it can also solve the problem of corruption among clerks, which is also a good way."

After a pause, he looked at the boy and girl in front of him and said, "But the government can only collect silver notes from Jiangnan Bank, but not from other banks. Isn't this a bit domineering?"

Zhao Hao and Jiang Xueying looked at each other, and the former shook their heads slowly and said, "As the Chief Secretary said, this is a matter of benefiting the country and the people. Maybe it is a bit domineering, but it is also to avoid letting people take advantage of loopholes, which leads to good things turning into bad things."

"How do you say this?" Lin Zhongcheng asked softly.

"In fact, silver notes are not rare things. During the Northern Song Dynasty, there were special 'silver notes shops' in Sichuan." Mr. Zhao laughed loudly while renovating tea for Lin Run:

"Unlike the banknotes issued by the court, banknotes were always issued by merchants. But how does the credit of merchants compare to that of the state? So this requires that banknotes must be 'payed as soon as they see the bill'. To put it bluntly, it is just a certificate of deposit and withdrawal, not real banknotes."

Lin Run nodded and listened very seriously. The biggest weakness of the Ming Dynasty was finance, which was far inferior to the Mongol Yuan.

At least before the Yuan Dynasty finished his life, he knew that the reserves needed to be set up for issuing money. Zhu Yuanzhang dared not give any guarantees, and if he printed a piece of paper, he dared to be a money-user.

But Emperor Taizu's achievements are beyond all his might, and all the people are convinced that Emperor Taizu was Emperor Taizu. He said that the Ming Dynasty treasure money was money, so the people across the country would regard it as money.

Of course, the main reason is that no one dares not to take the money...

As a result, the value of Baochao depreciated and increased during the entire Hongwu period, but it was still valuable in general.

However, after the serious damage to the country during the Jingnan Campaign, and Zhu Di was very happy about his achievements, he was comparable to Yang Guang, and the Ming Dynasty, which had exhausted finances, finally launched an unlimited issuance mode.

So the flow of water went down three thousand feet.

From the end of Hongwu, Baochao was able to exchange for 500 coins of copper coins, but depreciated to the second year of Yongle, and Yichan paper money could only be exchanged for 100 coins of copper coins.

In the fifth year of Yongle, Yi Guan’s money was exchanged for 60 cents.

In the late years of Yongle, Yi Guan’s money was exchanged for ten cents.

In the seventh year of Xuande, Yi Guan’s money was only worth five cents of copper coins.

In the seventh year of Zhengtong, he always made a penny.

After the Tumu Fort Incident, Baochao reached a desperate situation where a hundred chunks of money were worthless. The so-called "the market is accumulated, and no one cares about the mistakes."

By the Zhengde period, Baochao had actually been abolished.

After that, the Ming Dynasty no longer issued paper money and could not borrow money from the private sector like in the late Qing Dynasty.

In fact, after the Ming Dynasty, Longwan, made money in overseas trade, and more than one-third of the world's silver flowed into China, so there were not too many rich people among the people.

But no one would lend money to the court.

There is no such thing as the country's credit is completely bankrupt. No one will be fooled anymore.

~~

It can even be said that the troubles after the Ming Dynasty were all caused by this vicious overdraft of drinking poison to quench thirst.

Even Governor Ying Tian could not do anything when he became an official in such a court with bankrupt credit and poor fortune.

So Lin Run wanted to hear whether Zhao Hao had any clever insights that could inspire himself to improve his embarrassing situation.

"Because silver notes shops adhere to their trust and receive them as they come, the printed 'silver notes' pattern is exquisite, and they are hidden and marked, black and red, and handwritten by hand, making it difficult for others to forge it. Therefore, silver notes have won a high reputation."

Unfortunately, Mr. Zhao's explanation has ulterior motives, and the purpose is to take him into the ditch.

"So when merchants were conducting large-scale transactions, they no longer used heavy coins and cash silver, but exchanged them for silver notes. This greatly promoted the economic prosperity of the Song Dynasty. The reason why Song was far richer than the Ming Dynasty when its population was only half of our dynasty, was that this small silver notes made great contributions."

"Is that right..." Lin Run couldn't help but feel excited, as if she had seen a little dawn.

"But not all banknote shops operate lawfully and uphold credit. Some shops who are profit-oriented and greedy are maliciously fraudulent, and they absconded with the money after issuing banknotes indiscriminately; or embezzle deposits, and fail to operate other transactions and go bankrupt, making the banknotes unpaid."

"In this way, when the depositor withdraws money but cannot, it often causes trouble and leads to lawsuits. Therefore, during the Jingde period of the Song Dynasty, Zhang Yong, the governor of Yizhou, rectified the silver notes shops, eliminated illegal people, and was operated by sixteen wealthy merchants. At this point, the issuance of 'silver notes' was recognized by the government."

After saying that, Zhao Hao said to the thoughtful governor:

"My Ming Dynasty money house learned from the lessons of the Song Dynasty and went to another extreme. In order to prevent counterfeiting, over-issuance, misappropriation, and switch to registered tickets, every transaction must be paid at the counter of the money house to handle the delivery. This greatly hindered the development of industry and commerce in the Ming Dynasty, became a shackle on our economy, and also exhausted the tax source of the court."

"So we hope to re-launch the secrets, but we must also learn from the experience and lessons of the Song Dynasty. Therefore, we believe that the issuance of silver notes must be done in three ways to benefit the country and the people, and harmless!"

Then he raised three fingers and said in a deep voice:

"One, convenient and free circulation and exchange. Two, perfect anti-counterfeiting. Three, strictly regulate and eliminate excessive issuance!"
Chapter completed!