The Ming Dynasty started with caution

"Let Mr. Yan speak, and the omissions will be supplemented by the three masters of the cabinet."

Before Yan Chengjin reported, Xiao Jingxian whispered: "Your Majesty, Yan Chengjin used his father, Anding Bo's name, to purchase private houses and land in the capital, and the transaction amount was as high as 370,000 taels of silver."

Emperor Hongzhi widened his eyes. My small treasury does not have so much silver!

Li Dongyang was surprised that his mouth could fit a melon.

In other words, there is a house of Yan Chengjin every 500 steps from the mansion.

Liu Jian and others were full of disbelief.

Even if Anding Bo did not spend money on the border, the salary of you and your son together would not be enough for 20,000 taels!

Yan Chengjin was at a loss, but soon calmed down: "I bought it, but this silver was earned by my father and Lord Wang from selling books."

Emperor Hongzhi looked at Yan Chengjin and was displeased: "The way Yan Qing's family buys private houses and land?"

"No, redefine the value of the Ming Baochao, issue a corresponding number of Baochao according to the silver reserves, and you can absorb foreign silver without causing changes in the silver price."

The reason why the Ming Baochao is worthless is that even Zhu Yuanzhang doesn't like to use it.

It is precisely because the value of the Baochao and the value of silver do not match.

Li Dongyang and others were concentrating and didn't understand it a little.

"But who will use the Baochao if it depreciates?" Han Wen thought it was not possible.

Paper money can definitely be used, otherwise, why don't people use silver and gold in circulation in the future?

Ming Baochao and soft sister currency are actually just symbols of commodity transactions.

Yan Chengjin continued: "This requires the credibility of the court. If I tell you, please don't blame me, Your Majesty!"

"Go ahead."

"The most credible person in the court today is none other than Your Majesty, and the most credible business is none other than Liangxiang.

If Your Majesty can designate Liangxiang as a business of the court and issue new silver notes, no matter how much silver is put in, the court can control it."

Han Wen was not happy: "Why not use the national treasury? The Ming Dynasty treasure notes have always been issued by the government."

"The national treasury has no credibility, and the people do not believe in the national treasury, but they will believe in the Liangxiang Chamber of Commerce."

They say they are the people, but they are actually merchants.

Ordinary people, how can they collect enough silver for a treasure note? It is good enough to solve their food and clothing problems.

So, the treasure notes are still circulated among merchants.

In a few decades, Liangxiang may become a business group that dominates the Ming Dynasty, and merchants will naturally believe in it.

Emperor Hongzhi looked serious: "But this is national silver, how can I hand it over to merchants?"

"Your Majesty misunderstood, it is just borrowing the name of Liangxiang, in fact, it is still under the jurisdiction of the Economic Department of the Censorate and belongs to the court."

Liu Jian frowned and looked around: "Why does building a business name stabilize the value of silver? Do you understand?"

Li Dongyang and others shook their heads.

Yan Chengjin was in trouble. A large amount of silver inflow would cause inflation.

But this truth cannot be explained clearly, and no one may understand it in the future.

Emperor Hongzhi considered the pros and cons and cast a staring look at Yan Chengjin: "What benefits can Liangxiang Chamber of Commerce get? Tell the truth."

Still can't hide it from your majesty, Yan Chengjin said: "Credit."

If a private chamber of commerce can create a new currency, just like the ants in the future, then he is the father of Ma in the Ming Dynasty.

At that time, Yan Chengjin can also proudly say: This official has no interest in silver, silver is the most useless.

Li Dongyang and others fell into deep thought.

It seems that there is no loss for the court.

Yan Chengjin said: "The people do not trust the Ming Baochao, so your majesty must first abolish the Ming Baochao, and then establish it."

Li Dongyang and others were quite surprised.

Since this kid became an official, changing the ancestral system has become a daily matter?

"But the treasure is..."

"Don't worry, it does not violate the ancestral system. After your majesty abolishes the treasure, you can issue the Hongzhi silver note."

The Hongzhi silver note was something Yan Chengjin came up with temporarily.

No matter what it is called, it is just a trading symbol after all.

The gentlemen understood that this was a change of soup but not medicine, so they did not refute it. From the bottom of their hearts, the Ming Baochao, even they disliked it.

It doesn't matter whether it is abolished or not.

"This is the government office of the court, how can it use the Liangxiang business name?" Xiong Xi was suspicious.

Han Wen echoed: "Mr. Xiong is right!"

Liangxiang business name, it sounds like a private business name of Liangxiang.

"Liangxiang has silver, which can be used as the first deposit to fill the business. If there is a run on the bank, it will not go bankrupt. Therefore, the Hongzhi silver note has prestige." Yan Chengjin said.

The people all know that once a war breaks out, the court's treasury will be empty.

If the court does not rely on the power of the Chamber of Commerce, sooner or later, it will become a pile of waste paper.

The decline of the late Ming Dynasty was largely due to the control of silver in the hands of the business community, and the court had no silver to pay the military.

Emperor Hongzhi made up his mind: "Let's do this first. The court will set up a business and issue Hongzhi silver notes. The deposit will be lent by the Liangxiang Chamber of Commerce, and the Ministry of Revenue will write an IOU first.

The court must not privately accept silver from the business community, let alone be controlled by the Liangxiang Chamber of Commerce."

His Majesty has eliminated all possibilities...

Yan Chengjin was a little disappointed.

"Your Majesty is wise!"

The Silijian hurried to draft an edict, and the Tongzhengsi issued a report to all the government offices in the Ming Dynasty.

It caused an uproar in the streets.

First, it was reported that silver would be devalued, then it was reported that the Ming Dynasty treasure notes would be abolished, and in addition, the Hongzhi silver notes would be issued?

Many merchants could not understand why the court would do this.

The gentry were panicked.

However, at this time, the Liangxiang Library began to host gentry lectures.

"If you pay a tael of silver, you can listen to Xiao Zhu's lectures." The little eunuch shouted.

Zhu Houzhao stood on the high platform and gushed: "The imperial court's move is to incorporate overseas silver into the Hongzhi trading house so as not to disturb the price of silver.

Please be patient, you won't lose money. "

"Furthermore, I have heard from the gossip that if you deposit your money, you can still earn interest."

In order to prevent the more than 20,000 taels of silver from depreciating, Zhu Houzhao pondered Lao Gao's words for several days.

The gentry was doubtful.

The next day, Hongzhi Company, established by the Metropolitan Procuratorate, opened its doors for business in the capital.

Liu Lai stood at the door, quite nervous.

Whether Hongzhi Banknotes can be implemented depends on whether there are merchants who can deposit silver in exchange for Hongzhi Banknotes.

But the entrance hall is deserted, like a temple in the deep mountains and old forests.

Nuan Pavilion, early morning.

Emperor Hongzhi put down the memorial and looked at Xiao Jing: "Today, the imperial court's business started operating?"

Xiao Jing nodded: "Yes."

"I came out of the palace to take a look."

All the officials looked at each other in confusion. It was the first time that His Majesty announced a micro-visit in front of them. It was obvious that he attached great importance to the imperial business name.

Liu Jian bowed and said, "I'll go take a look too."

His brows were so nervous that Liu Lai was in charge of the Economic Department.

From what he knew about his son, this guy was a man without any ideas.

Emperor Hongzhi did not prepare any ceremony. He simply changed into Confucian clothes and hurried out of the palace.

The cabinet and the nine ministers each changed their clothes.

Yan Chengjin estimated that the situation would not be too good. After all, the shadow of the Ming Dynasty Baochao was too deep.

On Qipan Street, a grand business building was deserted. No, there was only one customer.

Emperor Hongzhi stood in front of the store and was dumbfounded: "Why is there only one person who comes to exchange my banknote?"

Liu Lai was horrified: "I spread the news, but... only one person came."

In the shop, Zhu Houzhao froze in place, not daring to turn around.

Twenty-five thousand taels of silver is too difficult to hide. It would be much easier to hide it in silver notes.

Emperor Hongzhi narrowed his eyes slightly and said to the only customer in the shop: "Come here."

Zhu Houzhao nervously held the banknote he had just exchanged and did not dare to move.

"I am so unlucky..."

Yan Chengjin sighed, the poor child met his biological father on the first day he came to save money.

Li Dongyang and others sighed, Zhu Houzhao's back could be recognized even from a hundred steps away.

Emperor Hongzhi frowned: "Zhu Houzhao? I'm calling you!"

The plot is a bit dry, but it must have this foreshadowing to make sense. A large inflow of silver will definitely cause inflation. Because silver is a currency in circulation, this means that there are suddenly too many soft coins being printed. In this case, one can only use another currency to replace silver to measure value and turn silver into a silver reserve. However, at this point, this link is basically completed.