Cao Song thought for a moment, then said, “Your Majesty, the key to the stability of currency value lies in the fact that the value of goods and currency is equal. However, most goods are consumables, while currency is not, which is why there is an imbalance.”
Therefore, I believe that we should increase the production capacity of factories and workshops to reduce commodity prices.
At the same time, the construction of various infrastructure projects within the Han Dynasty should be intensified so that more people can earn money to alleviate the pressure of excessive currency.
Liu Hong nodded in satisfaction: "The Grand Minister of Agriculture's method can indeed alleviate this crisis, but I think we still need to carry out currency reform and use a more valuable metal to support the value of the Wuzhu coin."
"Currency reform?"
Everyone was stunned again, and they all looked at the silver nugget at the same time.
“That’s right.” Liu Hong smiled. “I think it is most appropriate to use silver ingots to cover the cost of the five-zhu coins.”
Chen Fan asked doubtfully, "But Your Majesty, silver ingots are a rare metal in the Han Dynasty. How can they be used as the standard currency?"
"As far as I know, there are silver mines in Yizhou, Jiaozhou, and the Western Regions, but those little dwarfs seem to bring more silver ingots to the Han Dynasty as commodities."
Cao Song couldn't help but ask, "Does Your Majesty mean that you are planning to purchase silver ingots from the Dog Slave Kingdom?"
Liu Hong nodded: "Indeed, the commercial activities of the Han Dynasty are becoming increasingly prosperous, and silver ingots are urgently needed as the standard currency to balance the economy. Otherwise, if a currency crisis breaks out, the efforts of me and you all over the years will be in vain."
"Your Majesty is absolutely right!" the crowd echoed in unison.
Then, Liu Hong looked at Yuan Feng and Mo Shang and said, "Sikong and Mo Yanghou, go back and collect some silver ingots and other materials, smelt and purify them, and then proceed with the minting of coins."
"promise!"
"The Grand Herald could organize a delegation, taking students from the Engineering Academy, to the Dog Slave Kingdom to conduct an on-site survey."
"promise!"
Finally, Liu Hong looked at Chen Fan and Cao Song: "The Grand Tutor and the Minister of Agriculture should organize craftsmen to go to the Donglai Shipyard and build large ships that can go to sea as soon as possible."
"promise!"
After giving all the instructions, Liu Hong looked at everyone and said in a deep voice, "After you all return, discuss with your officials how to do a good job in currency control before the currency reform, and urge local governments to increase the construction of local roads and water conservancy."
"promise!"
Everyone agreed in unison, and then quickly left.
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