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Chapter 754 Jiangnan Bank

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    ??Aboard the Science Ship traveling against the current.

    Lin Run subconsciously twisted a piece of white, tender and lovely nougat and brought it to his mouth for a taste.  I'll go, it's much better than the ones on the market.

    Lin Zhongcheng, who loves sweets, resisted the urge to have another piece.

    He then asked: "Then what is the Jiangnan Bank you want to open?"

    "Zhongcheng can regard it as an upgraded version of the bank. We will optimize and improve all the functions of Wuji Bank to make it a more powerful one" Mr. Zhao thought for a moment, but still couldn't find a suitable word to replace it.  , had to smile bitterly:

    "Bank."

    "Hi," Lin Runbai wasted a lot of emotion, pointed at Zhao Hao and said with a smile: "Old wine in new bottles."

    "It's a nicer name. Silver is more expensive than money, and the bank is bigger than the bank." Jiang Xueying smoothed things over for Zhao Hao: "Brother wants our Jiangnan Bank to surpass all the banks in the world." She glanced at Lin Run and said:  "This would not be possible without the support of Zhongcheng and my husband Zu."

    "This court just said that you gave me papaya and repaid you with Qiongju." Lin Run nodded calmly and said: "You have sacrificed so much for the house, of course we will do our best to repay you."

    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 by the people of Suzhou Prefecture must be deposited in Jiangnan Bank first, and then Jiangnan Bank will issue silver certificates. The government only accepts silver certificates issued by Jiangnan Bank, not  Then collect cash directly from the peoplethis silver certificate is the meeting vote, right?"

    "It's almost the same. The only difference is that the silver certificate is anonymous." Mr. Zhao smiled and replied, "Zhongcheng can also call it a silver certificate."

    "This can save a lot of trouble." Lin Zhongcheng tapped his fingers on the table and thought: "It can also solve the problem of corruption among subordinate officials, 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 banknotes from Jiangnan Bank, not from other banks. Isn't this a bit overbearing?"

    Zhao Hao and Jiang Xueying looked at each other. The former slowly shook his head and said: "As Zhong Cheng said, this is a matter of benefit to the country and the people. It may be a bit overbearing, but it is also to prevent others from taking advantage of the loopholes and causing good things to turn into bad things."

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

    "Actually, silver notes are not a rare thing. In the Northern Song Dynasty, there were special 'bank note shops' in Sichuan." Mr. Zhao refilled Lin Run's tea and laughed loudly:

    "Unlike banknotes printed by the imperial court, banknotes have always been freely issued by merchants. But how does the credit of merchants compare with the country? So this requires that banknotes must be 'payable on sight'. To put it bluntly, it is just a kind of deposit  and proof of withdrawal, rather than actual banknotes."

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

    At least the Yuan Dynasty knew the reserve fund needed to issue banknotes before it was completed.  Zhu Yuanzhang dared not to give any guarantee, and he dared to use printed paper as money.

    But after all, Emperor Taizu had great achievements and all the people believed him to be Emperor Taizu. If he said that Ming Dynasty treasures were money, then people all over the country would regard them as money.

    Of course, the main reason is that no one dares to misappropriate money

    So throughout the Hongwu period, the value of treasure notes fell and rose, but overall they were still valuable.

    ¡°However, after the Jingnan War caused serious damage to the country, and Zhu Di¡¯s great success was comparable to that of Yang Guang, the financially depleted Ming Dynasty finally started the unlimited money issuance mode.

    So the stream flew down three thousand feet.

    From the end of Hongwu's reign, banknotes could be exchanged for 500 copper coins. However, in the second year of Yongle, banknotes had depreciated and banknotes could only be exchanged for 100 copper coins.

    In the fifth year of Yongle, the banknotes were exchanged for sixty cents.

    In the last years of Yongle's reign, banknotes were exchanged for ten cents.

    In the seventh year of Xuande's reign, Guangan banknotes were only worth five copper coins.

    For seven years of orthodoxy, I have always paid one penny.

    After the Tumubao Incident, the treasure banknotes reached a desperate situation where hundreds of coins were worthless. As the saying goes, "If you accumulate money in a store, you will not care about the excess."

    By the Zhengde period, Baochao had actually been abolished.

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

    In fact, after the Longwan period of the Ming Dynasty, they made money crazily in overseas trade. More than one-third of the world's silver flowed into China. There should not be too many wealthy people in the private sector.

    But no one will lend money to the court.

    There is no such thing, because the national credit is completely bankrupt.  No one will be fooled again.

    ??~~

    It can even be said that all kinds of difficulties in the Ming Dynasty after the Ming Dynasty were all due to this vicious overdraft of drinking poison to quench thirst.

      As an official in such a court with bankrupt credit and poverty, even if you are the governor of Yingtian, you still can't do anything.

    So Lin Run wanted to hear if Zhao Hao had any brilliant insights that could inspire him to improve his embarrassing situation.

    "Because the banknote shop owners abide by their credit and can take it when they come, the printed 'banknote' pattern is exquisite, with hidden marks, alternating black and red, and handwriting, making it difficult for others to forge. Therefore, the banknote has won a high reputation."

    "It's a pity that Mr. Zhao's explanation has ulterior motives, and the purpose is to lead him into a ditch."

    "So when merchants conducted large transactions, they no longer used heavy coins and cash, but replaced them with silver notes. This greatly promoted the economic prosperity of the Song Dynasty. The reason why the Song Dynasty had only half the population and land of our Dynasty  The people under the Ming Dynasty are far richer than the Ming Dynasty, and this small banknote has made a great contribution."

    "Really" Lin Run couldn't help but feel excited, as if he had seen a little light.

    "But not all banknote shops operate in compliance with the law and abide by their credit. There are some profit-seeking and greedy shops who maliciously commit fraud and abscond with the money after issuing banknotes indiscriminately; or they misappropriate deposits and fail to operate other businesses and go bankrupt.  The check issued cannot be cashed."

    "In this way, when depositors were unable to withdraw money, troubles and lawsuits often arose. Therefore, during the Jingde period of the Song Dynasty, Zhang Yong, the magistrate of Yizhou, rectified the banknote shops, eliminated the lawbreakers, and exclusively operated them by 16 wealthy merchants.  . At this point, the issuance of 'banknotes' has been approved by the government."

    After finishing speaking, Zhao Hao said to the thoughtful governor:

    "My bank in the Ming Dynasty learned the lessons of the Song Dynasty and went to the other extreme. In order to prevent counterfeiting, indiscriminate issuance, and misappropriation, I switched to registered checks. Every transaction must go to the bank counter for delivery. This is extremely  It greatly hindered the development of industry and commerce in the Ming Dynasty, became a shackles to our economy, and also depleted the court's tax sources."

    "So we hope to re-introduce bearer banknotes, but we must also learn from the experience and lessons of the Song Dynasty. Therefore, we believe that the issuance of banknotes must achieve three points in order to benefit the country and the people, and be beneficial and harmless!"

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

    "First, facilitate free circulation and exchange. Second, complete anti-counterfeiting. Third, prevent spam through strict supervision!"

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