The literati in the Qing Dynasty were not economically compatible. Heavyweight powerful ministers like Zuo Zongtang and Li Hongzhang had very unique thinking and eyes, and they were not corrupt scholars who were obsessed with studying hard.

At the beginning, they might not have seen any clues about the banknote plan that Xiao Letian had in mind, but so many years have passed, even fools know about Xiao Letian's conspiracy.

"What is a banknote? Do I think I am a three-year-old child? It shows that you can exchange silver one-on-one bills, but do you dare to deny that Xiao Letian did not mix sand in it?"

"Your Fan family controls the Chinese banks. You have the right to issue banknotes. Touch your heart and ask, have you printed more paper money?"

"Don't worry about hiding it from my eyes. What's the difference between this thing and Jiaozi and Baochao in history? It's all left over from the ancestors!"

China is the earliest country in human history to use paper money. Jiaozi has been circulating in the commercial field since the Song Dynasty. Later, both the Yuan and Ming dynasties also developed this kind of thing.

This kind of currency issued by the government is completely different from the silver notes circulated in the Qing Dynasty. To put it bluntly, silver notes are silver certificates of deposit. You can go to the bill number to exchange for silver at any time.

But Jiaozi and Baochao are completely legal currency issued under the government’s administrative order!

However, the legal currency of ancient people was used to make money from the beginning. The court often issued paper money in excess, resulting in severe inflation in the market.

But what is interesting is that at that time it was the stage when paper money and physical currency were circulated at the same time. The issuance of more paper money only caused the credit collapse of paper money, and inflation was concentrated on paper money.

The purchasing power of copper coins and silver is increasing day by day. This strong contrast has allowed ancient scholars who do not understand the principles of economics to understand some basic knowledge of inflation and deflation.

Of course, there were no two professional terms of inflation and deflation in that era. People could only say that money was too low or that money was more valuable!

The banknotes issued by Xiao Letian are now called Nanpiao and Beipiao issued by the Qing court jointly supported the monetary order of the Qing Dynasty. This banknote that evolved from military bills learned from historical experiences and lessons from the very beginning.

"Xiao Letian is a thief, so smart! He seems to be really understanding foreign ink. He doesn't do the same with Jiaozi and Baochao, which means he is very smart!"

"First, he promised that paper money could be exchanged for silver dollars at any time, which dispelled the people's most basic concerns!"

"Secondly, he actually thought of using taxes to endorse paper money and allowing taxes to be paid in paper money, which is also very genius!"

"Third, the banknotes he issued did not exceed ten yuan denominations, most of which were one yuan, two yuan, and five yuan denominations. It is precisely because of the small denomination that the people at the bottom dared to try it!"

"These three tricks are very powerful. They successfully opened up the market credit of Nanpiao! But at the beginning, you talked about your credit, and then you started to let go!"

"War is a cost of money. When the cannon fires, tens of thousands of taels of gold are needed. Xiao Letian wants to buy warships and build foreign guns. He will fight the European powers..."

"What a great courage! I admire it, and I admire it all, but I also know that Xiao Letian is not a god, and he cannot transform into gold, silver and treasures!"

"I still have to plunder the people! How many war bonds have he issued in the past few years? Is it tens of millions of taels?"

"How much more paper money is printed? To be honest, compared with the silver stored in your treasury, it is more than twice as much, right?"

"At this time, you rely on the news of winning battles to support market confidence without collapsing!"

"If there is a real defeat... Haha, it will be a run-off at that time! When you don't have that much money to exchange for the South Pills with the people, it will be a scene where the sky collapses!"

Zuo Zongtang raised his head and drank a glass of wine. "Just Xiao Letian wanted to make up for the military expenditure gap of 35 million taels for me? Are you really playing with me as a child?"

Fan Jin and others looked a little embarrassed, "The Grand Marshal is indeed wise and dare not play with him. If you want to talk about the watered banknotes, I won't hide it from you. Of course, there will be some, but it is definitely not as serious as you said..."

"Hahaha..." Zuo Zongtang laughed wildly, "It's not that serious? Still unwilling to tell the truth? I know how you want to refute me, isn't it that the run has not yet appeared, is it that the prices in Jiangnan are still very stable?"

"But I can expose your scam tricks. Why is there no run in Jiangnan now? Why are the people still using Nanzhao?"

"That's because Xiao Letian's ghost spirit actually mobilized the valuable rice in Southeast Asia to the north and push the food price of Jiangnan!"

"Oh... genius!" Although Zuo Zongtang attacked Xiao Letian's monetary policy in his words, he still admired him very much.

"Only talents can transform the power of the entire world for my use. Xiao Letian really has this one!"

"Since ancient times, China has been stable in food prices and society. As long as the money in hand can buy food, everything will be safe, and the people will praise the prosperous era!"

"You can transport rice from Nanyang to Jiangnan and the capital in a whole year. All the grain dumped at low prices cannot be sold at the price!"

"But the price of grain is stable, what about other goods? Raw silk, tea, porcelain, silk, medicinal materials, wood... you can't suppress the price of these bulk commodities!"

"In the past three years, the price of raw silk has doubled and a half, the price of tea has doubled, and other commodities have increased by more than twice... The bosses who do business in Jiangnan are suffering one by one!"

"For example, tea leaves, because of the increase in costs, how many European transactions did Indian black tea steal?"

"Now even the foreign merchants in Shanghai complain that our goods have increased too much!"

"Why is the price increase? Is it really our output reduced? You are cheating... After the long hair was wiped out, the economy of Jiangnan has been in a recovery period, and the output of various goods is increasing!"

"But the price has soared, so there is only one explanation. The amount of money you made in the South Pills is definitely more than double!"

"The economy of your Chinese people is tight and the strings are almost broken! Are you still telling me about the military expenditure of 35 million taels? What conspiracy does Xiao Letian have? You'd better explain it to me obediently!"

"I, Zuo Zongtang, don't rub the sand in my eyes!"

Fan Jin's face was pale after saying this. He was shocked and thought to himself, "There are such smart people. In one sentence, it is the biggest flaw in our Chinese economy!"

"This guy is really difficult to deal with. The head of state's mission is really difficult to deal with!"

But no matter how difficult it is, it must be handled. Before going out, they always issued military orders in front of Fan Jian. If they fail to complete the task, they will be directly sent to the border and are not allowed to go home.
Chapter completed!