It’s just a joke to say that the amount of silver you hold is not important. Paper money still needs an anchor.
Of course, this applies to domestic situations. As for foreign situations, it doesn’t matter.
After listening to Lu Chen's explanation, Li Zhuo still looked at the banknotes in his hand with some disbelief and asked, "Will they really accept this kind of thing?"
"Your Majesty, I still say the same thing. As long as they can actually use the paper money to exchange for corresponding goods from our place, then this paper money is valuable."
Liang Licang also stood up excitedly and said, "Your Majesty, paper money is not a product of the imperial master's sudden whim. As far as I know, this thing appeared briefly in the previous dynasty."
As the Minister of Revenue, Liang Licang really supports the issuance of paper money. Who doesn't like the feeling of printing money at will?
But at this time, Wei Yong raised a different opinion: "So Lord Liang also knows that paper money appeared in the previous dynasty. Then why don't you tell His Majesty why paper money has not been popularized?"
Wei Yong bowed to Li Zhuo and said, "Your Majesty, paper money sounds great, but it's actually quite difficult to implement. Especially when the court encounters problems, it will issue more paper money, which will directly cause the paper money to depreciate. Eventually, the public will no longer recognize the value of paper money, and the paper money will eventually become worthless, and the court's credibility will be destroyed."
"So I think issuing paper money is a foolish move. For the imperial court, this is undoubtedly drinking poison to quench thirst. Lu Chen is indeed a wicked man with ulterior motives. I suggest that he be arrested, imprisoned, and castrated!"
Castration? !
Lu Chen shuddered all over and felt a little cold in his lower body. You, old Bidden, really have bad intentions!
Let's discuss political affairs, what do you mean by making personal attacks here?
Li Zhuo had obviously never dealt with this kind of thing. On the one hand, he could print money at will, and on the other hand, there was the country's credibility. He was caught in a difficult decision.
But he really liked the banknote in his hand because his portrait was printed on it.
In other words, once this thing is popularized, he will most likely become the most successful emperor of the Great Qi Dynasty. After he goes to the underworld, he will have something to brag about to his ancestors.
So he decided to seek Lu Chen's opinion again and said, "National Master, do you have any solution to what Lord Wei said?"
"Your Majesty, Lord Wei's concerns are correct. There is indeed a possibility of over-issuance of paper money. Of course, I have already come up with a solution."
"The first thing we need to do is choose an anchor for the paper currency. I believe silver is a very good anchor. The amount of paper currency we issue will be determined by the amount of silver we can control."
"Secondly, a dedicated banknote issuing agency must be established. I suggest that the Chinese Academy of Sciences take the lead, select outstanding officials from the six ministries, and establish a professional department within the central bank. This department's job is to calculate the amount of banknotes issued."
"This department will be independent of the six ministries' self-proclaimed system, and the criteria for judging banknote issuance will be based solely on data held by the central bank. Even Your Majesty cannot force them to over-issue banknotes!"
When Li Zhuo heard that he had no authority to command this department, his face immediately turned green. How could such a department exist in the world? He was quite unwilling to do so.
But when the people from the six ministries heard that such an organization actually existed, their eyes became red.
Being able to be an official these days and being able to ignore the emperor's orders is a noble position!
The most important thing is that I don't need to live a hard life like those censors. I need to change jobs! I must change jobs! I will report to my superiors when I get home today!
The six ministers were also extremely excited when they heard this. Although this department was independent of the six ministries, the people had to be selected from the six ministries, which directly increased the power in their hands.
Anything that can increase the power in their hands is a great thing and must be supported!
The six ministers then bowed to Li Zhuo and said, "Your Majesty, I believe this method is feasible! Do not hesitate any longer!"
Li Zhuo was completely stunned. He didn't expect that in the end, he would be set up.
At this moment, he remembered Wei Yong's kindness, so he quickly turned to look at Wei Yong and said, "My dear Wei, what do you think of this matter?"
Wei Yong's face was gloomy. After a long pause, he finally spoke: "If that's the case, it can solve the problem of excessive banknote issuance. However, this is a new thing, and no one can predict the risks involved. I still think we should be cautious and not rush into anything. It's better to wait a little longer."
Lu Chen thought to himself that by the time you conservatives figure it out, it would be too late.
He hurriedly spoke again, "Your Majesty, I also think what Lord Wei said is very true. That's why I want to give paper money to those foreigners. Just think about it, everyone. Once their upper class accepts this kind of paper money, it will inevitably spread slowly among the lower classes in their countries. If that happens, any problems will arise on their side first, and we can observe and correct them!"
"Your Majesty, this method is very good, don't hesitate any longer!" Liang Licang's eyes turned red with anxiety. He stared at Wei Yong intently, as if he would go up and fight him to the death if this old guy dared to talk again.
Li Zhuo looked at Wei Yong. Wei Yong pondered for a moment and said, "We can try trading with those foreign tribes first, but we must strictly control the goods they can exchange for paper money. We must also strengthen our border troops as quickly as possible."
Seeing that Wei Yong had given in, Lu Chen smiled even more brightly.
"Don't worry, Lord Wei. I believe Minister Cui is certainly more anxious about this matter than you are. And let me add a few more words: once they accept our paper currency and banking system, the possibility of them defaulting on their debts will be minimal."
"You know, banks aren't just for lending money; we can also encourage people to deposit money into our banks. As for how to entice them to deposit money, I'm a humble person, but I have plenty of tricks up my sleeve."
"Think about it, everyone. If those upper-class nobles have all deposited huge sums of money in our bank, will their emperor dare to default on their debts? If he does, we can simply freeze their funds. If that happens, we won't even need to do anything ourselves; those nobles will be able to overthrow their emperor's comrades."
"Think about it again, everyone. If they rely on us for food, their culture is infinitely closer to ours, and all their money is stored with us, then are they still themselves?"
After saying that, Lu Chen couldn't help but touch his nose. He always felt that he was becoming more and more hawkish in his words and deeds.
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