The Bu standard, some inexplicable currency standard theory, has now been invented by the folk economist Yu Wenwen, and will soon appear in Xiyang City, Huangzhou in a blatant manner.

Is it OK? There are no previous examples to be found, but Yuwen Wen is not worried because Huangzhou cloth is very "strong". If the cloth-based circulation coupon is only circulating in Xiyangcheng, there will definitely be no problem.

Hydraulic textiles make Huangzhou cloth of high quality and low price, with a fine woven fabric of about 500 cigarettes per piece, and is very competitive. It should be no problem to use fine fabrics that can ensure output as the currency standard... right?

Whether you believe it or not, I believe it anyway.

The credit of circulating coupons lies in unlimited and full redemption. With the joint guarantee of various cloth merchants, others' confidence in circulating coupons will be established sooner or later, and will be limited to circulation in Xiyang City, which will also minimize the risk.

Yang Lihua is worried about this matter. Today's family meeting, since Yu Wen Wen talked to discuss it with her heart, she would be polite: "The hydraulic textiles in other places will be started soon, and the price of cloth will definitely drop by then. In this way, the circulation coupons will inevitably be affected, right?"

"Water conservancy and textile expansion will definitely drop, but what does this have to do with circulation coupons? It is also full exchange, right?" Yuwen Wen smiled, "Circulation coupons are circulation substitutes launched by cloth merchants. The essence is to facilitate the purchase and sale of cloth, and this has little to do with the price of cloth."

"A circulating coupon with a face value of 'one thousand pieces' will be reduced to 300 pieces of fine woven fabric on the market, and the merchant will cash in one thousand fine woven fabrics with the circulating coupon."

"The price of the shipping is like the water level, the circulation coupon is like a ship, and the face value is like the goods loaded on the ship. Regardless of whether the water level rises or falls, will the goods in the ship increase or decrease?"

Yuwen’s metaphor for “called beast” is very vivid, and the three “female students” quickly understood it, but Xiao Jiuniang still didn’t understand and asked: “Then why not set the face value as several articles?”

This is a question that only political naive people will ask. The first one is Yuchi Chifan, so the "first mover" explained: "The court strictly investigated private casting in order to ensure the circulation of money. If the circulation coupons are directly linked to money making..., what is the difference between private casting?"

"It's right, circulating coupons are considered a business act. The seller uses reputation guarantee to launch an intermediary. The buyer believes in this kind of guarantee. Both parties are willing to use this kind of thing to simplify the transaction procedures.

”

This is Yuwen Wen's fallacy. Try not to touch the high-voltage line. Such things can be big or small. Although there are people in the southern part of Shannan, it is better to act cautiously considering various factors.

The court has already allowed you to set up a coin in Shannan to mint coins. What do you want to do if you create a circulation coupon instead of copper coins? Don’t you want to use the money set by the court? Don’t you want to be a minister of the Great Zhou?

Prime Minister Yuchi glared at him, pointing at Yuwen Wen's nose and cursing. Of course, this is a picture he had imagined by himself. If the circulation coupon is linked to the copper coins, it will inevitably lead to such consequences after successful circulation. If it is not successful, the scene should not be too beautiful.

The one-legged bronze man is crazy and uses paper money to exchange for our copper coins. This is to get rid of the bones and skins. Life cannot continue, so everyone will fight with him!!

This is the most likely scenario. Over the past few hundred years, many imperial courts have failed without exception. How could he promote banknotes?

It can be famous from now on and leave a strong mark in history books.

Therefore, circulation vouchers are limited to the use of Xiyang City, Huangzhou, and are only linked to fine cloth, which is the so-called "fabric standard", which is actually "fabric ticket". Intermediaries generated in order to facilitate the transaction of bulk goods will not affect the circulation of copper coins.

Regarding this beautiful idea, Yang Lihua still has something to say: "It's just...who cares about the issuance of this circulation coupon?"

"The cabinet manager and the cabinet manager jointly established by Huangzhou cloth merchants are responsible for issuing circulation coupons. The principle is to issue the circulation coupons with a face value as much as the cloth is produced. Considering the redundancy, the issuance volume is slightly increased. Printing is responsible for Ruixing, and the issuance volume is decided by the supervisor of the cabinet shop.

”

"So this cabinet is not considered a property of a mansion?"

"Not counting, it is a common industry of Huangzhou cloth merchants."

Yang Lihua was a little surprised. If someone was too obsessed with profit, it would easily lead to credit bankruptcy. She did not understand the various ways of banknotes, but it did not hinder the analogy.

Twelve years ago, the Zhou State promulgated the "Five Elements Big Cloth" money. At that time, it was stipulated that one article, five elements, five zhu coins should be used as ten. This was to be used as ten.

At the beginning, the people had no choice but to implement it, but because many powerful people did not buy it, the industries under their names were lip service and did not take the Five Elements seriously, so the credit of the court went bankrupt, and it gradually became invalid as soon as it was ten, and it was still a document as it was one document.

Not to mention the "Yongtong Wanguo" money that was worth 100,000 six years ago was no one took it seriously.

If you want to promote copper coins with fake face value, credit is very important. If you can't tell the truth, no one will take it seriously. And the same is true for these circulating coupons. If 10,000 pieces of cloth are circulated on the market, the circulating coupons issued must be about the same.

Because this circulation coupon is about redemption one-to-one. If only 10,000 pieces of cloth are issued, the circulating coupon is issued with a face value of 100,000 pieces. It is obvious that "one-to-one redemption" is a joke, and the news will be leaked sooner or later.

When the market hears the turbulence, credit collapses instantly, and the so-called circulation coupons really become waste paper.

If the issuance of this circulation coupon is controlled by Yuwen Wen, Yang Lihua felt that her husband was unlikely to be obsessed with profit and would do something about fishing out of the waters, but if it was handed over to someone else's hands, it would be possible.

"Lihua is right. There are indeed such hidden dangers. Therefore, the relevant systems of the cabinet shop must be improved, especially how to determine the issuance volume is very important, but even if it is troublesome, it is worth promoting, because the biggest benefit brought by circulation coupons is convenience."

When Yuwen Wen said this, he continued to patiently explain why the circulation coupons were promoted. The circulation coupons promoted in the mansion had already made everyone feel very convenient, so he wanted to expand the scope to the entire Xiyang City.

Today, Huangzhou Xiyang City has a prosperous business, but the prosperity is naturally not as good as those "first-tier cities". The reason why Yuwen Wen promoted circulation coupons was to solve the problem of money shortage.

He had previously killed everyone for the purpose of private minting coins, but even so, facing the economic law of "bad money drives out good money", he was still a drop in the bucket.

"Do you know why?"

Yuchi Chifan knew the whole story, so he replied: "It's because the copper coins of good quality were kept privately."

"Yes, there are two major enemies in circulation of copper coins, one is private casting and the other is private storage." Yuwen Wen nodded, "Copper coins are made of copper. Although the coins cast from copper are mixed with lead and tin, the quality of the government's money is pretty good."

"Since it is a joint guarantee and a Ruixing project, we must be an example. In order to promote circulation coupons, Ruixing must be ahead. After the matter is settled, all industries operated by the government outside will use circulation coupons unconditionally."
Chapter completed!