At the beginning, Qin Shi Huang traveled to my home

Chapter 1025 Ming Treasure Notes

"After you, Emperor Taizu of the Ming Dynasty, established the Ming Dynasty, due to the shortage of copper mines, you promulgated the 'Banknote Law' in the name of the Secretariat.

The only currency issued by the government at that time was called Ming Baochao. Not long after, you issued the "Silver Ban Order", which prohibited the public from using silver for transactions and required them to use Ming Baochao.

It's like saying, let's change the currency.

However, just fifty years later, the Ming Dynasty's treasure notes depreciated a thousand times, and the country rapidly fell into inflation.

We all know that copper coins were used for transactions before the Song and Yuan dynasties, but our country does not have that much copper.

That's why you, Emperor Taizu of the Ming Dynasty, thought of issuing the Ming Treasure Notes. In fact, your starting point was good, but you, Emperor Taizu of the Ming Dynasty, did not really recognize the Ming Treasure Notes, so how could the people trust them?

Just like today, we also use paper money, here, this is our money, made of paper." Li Wu took out a wrinkled ten-yuan note, and he didn't have any other money.

Nowadays, people generally don’t use cash much, they all use mobile payments.

Several people looked at the money in Li Wu's hand and couldn't help but pick it up to look at it. They usually used gold and silver in transactions, and paper money was of no use to them at all. To put it bluntly, if they didn't acknowledge it, it was just a piece of waste paper.

"Little fairy, it turns out you also use paper money. We always thought you were using a mobile phone." After all, they had seen the little fairy pay with a small cube many times, so they thought the money was placed inside.

It turned out that there were actually banknotes. This was the first time they knew about it and saw it.

"Of course we have. There are one-yuan, five-yuan, ten-yuan, twenty-yuan, fifty-yuan and one-hundred-yuan banknotes, as well as coins and so on. We have everything, but they are just used less. It doesn't mean we don't have any," Li Wu laughed twice, but she really didn't have any now.

The three nodded after hearing this and looked at the banknotes. They realized that it was indeed made of paper, but if it came into contact with water or was gnawed by rats, wouldn't it be unusable?

"Now is not the time to talk about our currency. I'd rather continue talking about the Ming Dynasty treasure notes," Li Wu said, then went off topic again.

“But, Emperor Taizu of the Ming Dynasty, when you issued the Great Ming Treasure Note, you overlooked a rule, which is that all currencies must be backed by the principal standard.

That is to say, the amount of currency you can issue depends on how much gold and silver you have.

But how could you, Emperor Taizu of the Ming Dynasty, know all this at that time?

Due to the lack of a reserve system, the Ming Baochao became a naked tool for the government to exploit private wealth.

What's even more outrageous is that at that time, if a person took gold, silver or copper coins to the government to exchange them for Ming Dynasty treasure notes, it was allowed.

However, if you have a lot of Ming Dynasty treasure notes in your hands and you use them to exchange for gold and silver from the government, that is not allowed and is prohibited.

Why was it banned? Because the Ming Dynasty had no gold and silver reserves.

So you don't allow the exchange with Ming Treasure Notes. If you do this, how can you convince the people that the Ming Treasure Notes can be used?

Moreover, you do not allow ordinary people to use Ming Dynasty treasure notes to pay taxes.

If common people paid taxes with Ming Treasure Notes, they would have to pay 70% in Ming Treasure Notes and 30% in gold and silver.

This means that from the government's perspective, it does not trust the Ming Treasure Notes, but trusts gold and silver more.

Therefore, in the later period, private vendors and some merchants in Jiangnan basically did not recognize the Ming treasure notes.

Later, Emperor Taizu of the Ming Dynasty issued orders such as the "Silver Ban Law" and the "Copper Ban Law". As a result, the Ming Dynasty's treasure notes depreciated a thousand times in just a few decades.

After Emperor Chengzu of the Ming Dynasty came to power, the value of the Ming Baochao had depreciated to 12 wen for every wen. That was a thousand-fold depreciation.

Later on, it became so serious that no one would pick up the trash even if it was thrown on the ground.

Your intention in issuing the Ming Treasure Note was good, but in fact you yourself did not approve of it and did not trust it.

If the people could exchange Ming treasure notes for gold and silver, would they still not trust it?

And this really requires issuing as many Ming treasure notes as there are reserves, otherwise," Li Wu shook his head, how would he deal with the latter.

Zhu Yuanzhang, the first emperor of the Ming Dynasty, fell into deep thought, his eyes rolling around, and no one knew what he was thinking about.

The same is true for other people. In fact, they use gold and silver to trade. To be honest, these things are very heavy and inconvenient. If they use paper money like the little fairies, it is not impossible.

But we are also afraid that the situation will end up like the Ming Taizu. Isn't this a precedent? We need to think about this matter carefully. They have so many people, can't they come up with a perfect solution?

"As for how to do it, that's up to you, Emperor Taizu of Ming. In short, the government and the emperor must both approve it before the people will approve and believe it. You only take in and don't give out, so who would dare to believe you?" Li Wu took a sip of water.

People used gold and silver to exchange for Ming Dynasty treasure notes, but in the end, they were not allowed to exchange for gold and silver with Ming Dynasty treasure notes. Who would dare to believe this?

Even now, when payment is so convenient, there are still many elderly people who have not kept up with the times. They do not believe in mobile payments and prefer to use cash transactions.

Many elderly people still think that money should be kept in their own hands for safety.

Moreover, it is very troublesome to use money now, especially large-scale transfers and withdrawals. It is very inconvenient. How can saving money be so simple?

"Little Immortal, I understand," Emperor Taizu of Ming nodded. He already knew how to change. Take it slowly. There will be no shortage of gold, silver and cocoa now. He has already asked people to dig them.

“Then I will continue to talk about your faults.

Your fault, Emperor Taizu of the Ming Dynasty, mainly lies in the wrong choice of successor.

In your later years, you chose the Crown Prince Zhu Yunwen as your successor, ignoring his lack of ability, which led to Prince of Yan Zhu Di launching the Jingnan Campaign to seize the throne.

This decision not only violated the system of primogeniture, but also laid the seeds of instability in the royal family.

You also used overly harsh ruling methods. You launched four major cases, including the "Empty Seal Case" and the "Guo Heng Case", and killed officials indiscriminately, causing local officials to feel insecure and undermining the stability of the bureaucratic system.

In terms of policy, you, Emperor Taizu of the Ming Dynasty, implemented a maritime ban policy, restricted civilian maritime activities, and missed the opportunity for Zheng He to make seven voyages to the West.

In fact, you had no choice but to ban the sea, mainly because at that time the remnants of Zhang Shicheng's forces had joined forces with the Japanese pirates, threatening your rule, so you banned the sea.

But it is indeed dangerous. Fortunes are sought in danger, and trading at sea is much faster than trading on land."