From the central bank, the price comparison between banknotes and gold and silver will be made

The recent chapters of currency issues have been written more laboriously. Drunkards are not professional in finance, and the fictional financial stories are inevitably ridiculous. However, I hope that some of the details can be discussed with Drunkards. The materials in the article are all research results from previous generations. Drunkards are copied and copied. If they are copied incorrectly, everyone is welcome to correct them.

First of all, let’s talk about the central bank. Regarding the inflation problem in the story, many friends suggested that the drunkards make a central bank come out. This suggestion was very moved at the beginning. After careful consideration, the drunkards thought, buddy, we cannot do this unethical thing. The reason was that in the feudal monarchy era, the monarch’s words were the law. The establishment of central banks and the issuance of currency depended entirely on the national reputation, but the feudal regime in ancient China was often the least credible to the people, and its power was not supervised by the people, so it was easy to establish a central bank and bankruptcy. An obvious example was the banknotes of the Jin Dynasty. When the Jin Dynasty first started, it attacked from all sides, and made war money, and was arrogant and extravagant. Later, it was attacked from all sides, and the military expenditure was too large and the financial difficulties were extremely difficult, so paper money was issued indiscriminately. After the 29th year of Dading of the Emperor Shizong of Jin (1189), the restriction on the deactivation of paper money for seven years was lifted, and there was no restriction on issuance.

The number of banknotes, regardless of cash, and the banknotes were not prepared, and the new banknotes were continuously issued to expand the denomination of the Jiaobao. In the second year of Zhenyou (1214), when the Jin Xuanzong was seriously inflated, the currency value was issued, and the currency value fell by one thousandth, and the Yiguan banknotes were actually only worth one cent. The people's wealth was instantly lost due to inflation, which was called "sitting" at that time. In the third year of Zhenyou, the new currency "Zhenyou Bao Coupon" was issued.

".A year later, the treasure coupon fell to only a few cents worth of each guan. In the fifth year of Zhenyou, the new coupon "Zhenyou Tongbao" was issued. The treasure coupon was 1,000 guan, and it fell by one thousandth. By the fifth year of Xingding (1221), the silver price had risen more than 400,000 times, and in the second year of Yuanguang (1223), the silver price had risen to 60 million times. Instead of trusting such a court, it is better to trust gold in reality. Fortunately, there are not many proven reserves on this planet so far.

Let’s talk about the Daming Baochao. In the Ming Dynasty, only one type of banknote was issued. In the eighth year of Hongwu (1375), the Baochao Tijuan was established, and the banknotes were established, and the Daming Baochao was issued. Its shape is basically imitated by Yuan Dynasty, pattern structure, style and pattern, and mulberry paper printed. The denomination is divided into six types according to copper coins from 100 to Yishen. The Baochao, one foot long and six inches wide, is the largest banknote in my country. It is allowed to be mixed and circulated with copper coins, but the government does not cash out the money. Each banknote is always one discount for each banknote.

Thousands of text, one tael of silver, and four jin of banknotes are rated as one tael of gold. The Ming Dynasty banknote law followed the Yuan system, regardless of region and circulation time, and there was no issuance limit. The printing and issuance of Baochao were concentrated in the central government. In order to promote Baochao, the "household registration banknote salt law" was implemented (each adult was given one kilogram of salt, and the collection of banknotes was consistent), "door stall course" (shop merchants used banknotes to pay door stall courses), and forced commercial banknotes to be used, but the results were very little. During the Hongzhi period (1488-1505), Baochao was no longer used.

Judging from the official exchange price of Baokuan, the price of Yiguankuan is 1,000 liters or 1 tael of silver, and the four liters of gold is 1 tael of gold, so the price ratio of gold and silver in the early Ming Dynasty was basically correct. The silver price continued to fall in the middle and late Ming Dynasty. After the Qing Dynasty entered the pass, due to war, the silver price rose to the level of the early Hongwu year. This cannot be calculated proportionally with copper coins, because copper coins depreciated even more due to private casting and excessive issuance. If we count rice, each stone worth four cents of silver in the early Hongwu year was 4 cents and six cents of silver in the late Ming Dynasty. At the end of the Ming Dynasty, the price of silver was worth four cents and six cents of silver in the early Hongwu year, and Chongzhen in the late Ming Dynasty

During the years, each stone was about one tael and two cents. During the Kangxi period of the Qing Dynasty, each stone was worth five cents and nine cents, and during the Guangxu period of the late Qing Dynasty, it was two taels and one seven cents. The changes in the price comparison between silver and money were the worst hit by the common people in the market, because they could only sell labor and daily necessities. When the sold labor could not be replaced with survival materials, it was when social security was greatly damaged. This damage to urban civilization was almost disastrous, and the consequences were second only to the Qing Dynasty's actions in the Jiangnan area.

The price comparison between gold and silver, and the information found by the drunkards was about 1 to 5 in the Tang Dynasty in China, which lasted for a long time. It was 1 to 6:52 in the early Song Dynasty. After a hundred years of plunder by Mongols in the early Ming Dynasty, the price comparison between gold and silver was 1 to 4, by the middle of the Ming Dynasty, it was 1 to 7 to 8, and at the end of the Ming Dynasty, it was about 1 to 14. Some people often compare the national treasury in the Qianlong period with the Ming Dynasty to prove that the Qing emperor was wise, which was actually a bit nonsense. The price had fallen by 3.

What is there to compare? Moreover, the excessive amount of silver in a country's national treasury also shows to some extent the lack of public industry investment. However, the emperors of the feudal dynasty usually do not spend money on the public industry. They will seal the mountains of Mount Tai several times, and then build temples and palaces everywhere. Fortunately, these guys finally have a time to die, and they do not "living another five hundred years" or "burning themselves and illuminating the earth" as some TV drama directors hope!

After the Opium War, the market for silver in China soared, and there was no way, so they were given to friendly countries. As a result, the Chinese people, especially among separatist areas, changed a currency - opium. This is another topic, which involves too much, so I won't go into details here.

Silver as a currency standard was originally unscientific. In ancient China, the weight of silver was used as currency, which actually included distrust of the central government's reputation and ability. After the West adopted counting currencies instead of weighting currencies, silver was still used in China for many years. Later, because the emergence of Spanish and Mexican silver balls and were popular among the people, the government began to consider the matter of minting silver coins. However, at that time, China had no much silver reserves, and any emperor on TV, who was wise and powerful, also collapsed during the Revolution of 1911.
Chapter completed!