Li Chao didn't know how to speak.
Li Chao did have a reserve ratio of 20% and 5 before, but Li Shimin is obviously not like this. 50 million becomes 200 million, and if the 200 million banknotes are really handed over to Li Shimin, inflation and prices will definitely skyrocket.
Especially when these 200 million are still concentrated in Xiangyang.
Besides, Li Chao couldn't print so much money at once.
"Your Majesty, 10 million copper coins are printed with 40 million banknotes, and the increase is only 30 million.
And 50 million printed 200 million, an increase of 150 million.
Your Majesty, quantitative changes cause qualitative changes, and then prices will inevitably rise, and there will be a lot of paper money but you can't buy goods, and at that time, paper money will depreciate, plummet, and there will be no credit at all. ” Li Chao plans to print 50 million banknotes in a few years, which is increasing year by year, and it is for the entire Datang world, so many banknotes have little impact on the entire Datang economy.
The amount of money he has will not have much of an immediate impact on the commodity economy.
But if Li Shimin wants to print 200 million, it will be different.
It's not just about money and money, it's about the actual commodity.
Consistent money for consistent money, and how to ensure that consistent money can be worth consistent money This is the relationship between the quantity of money and the quantity of commodities.
When the amount of money in circulation exceeds the actual needs of the economy, it will cause the currency to depreciate and the price of goods to rise, which is actually inflation.
However, before that, because it was physical currency, and because of the copper shortage, there was a money shortage, so it has always been more of a money shortage, that is, cheap money and expensive money.
But in general, the amount of money in circulation should be commensurate with the actual demand.
If there is too much money, then more money is chasing fewer goods, so prices rise and the currency depreciates.
And the amount of money is insufficient, that is, less money pursues more goods, so the value of goods depreciates and the currency rises.
Originally, the imperial court had a shortage of money, that is, the total amount of money was insufficient, which was very unfavorable to economic development, because even if everyone had commodities, there was no money in the market, and it was difficult to trade.
At this time, Li Shimin thought of printing money, which was originally a good thing.
But there is also a very important issue involved here, banknotes can be printed, but there must be reserves, and the amount of this currency cannot be exceeded, and if it is exceeded, it will be inflation.
Li Chao issued treasure banknotes and printed thousands of dollars a year, which is not a problem in the real economy of Datang, especially the circulation of Li Chao's money is very healthy.
But Li Shimin can't print 200 million if he wants to, there are too many of them, and he printed banknotes, and he has 200 million in his hand, so it must be different to use it.
At that time, all kinds of purchases and purchases, and the money should not be used properly, so it is no wonder that it is not inflationary.
"Your Majesty, the imperial court now has tens of millions of dollars in its hands, and there is no shortage of money.
If the imperial court wants to issue treasure banknotes, I suggest that you can take it step by step, and take out 5 million yuan as a reserve fund in the first phase, and print 10 million or 20 million yuan banknotes first.
In the future, it will be reprinted every year, and it will not cause a big impact all at once. ” Print 10 million banknotes, use these banknotes to pay officials and soldiers, or use them for court expenses in the future, and spend the money normally.
Of course, if the imperial court really starts printing money, then the most important thing is that the imperial court must allow the people to pay taxes with treasure money.
Moreover, there is another sensitive matter, that is, after the imperial court prints money, it is very likely that private money printing will be banned.
It is impossible for Li Chao to agree to this.
If Li Kee Qian Zhuang cannot print money and cannot issue treasure money, the loss will be extremely huge.
"Your Majesty, in fact, what the court lacks now is not wealth, but money.
There are more than 50 million yuan worth of wealth in the imperial court's left collection, but there are very few coins.
Therefore, in response to this situation, the minister suggested that the imperial court issue treasure banknotes, which can be issued according to the full cash reserve system, that is, according to the value of wealth in the treasury, the same amount of treasure banknotes can be cashed at any time, such treasure banknotes, in fact, are more convenient to circulate vouchers. ” "The imperial court set up a special money bank for issuance and cashing, and was responsible for this matter."
Li Shimin frowned.
"Isn't your Li Ji's treasure banknote a reserve of two or a half, how can I issue a treasure banknote but need a full reserve?"
"Your Majesty, the volume is different, the scale of Li Ji Qianzhuang, the first brush of the treasure banknotes issued is only 20 million guan, and with the scale of Li Ji, it can guarantee the circulation of 20 million guan and the credit of recycling.
But if Your Majesty takes out 50 million to issue treasure money as a reserve, even if it is one and two, the excess will be 50 million.
This amount is too large, how can the imperial court ensure that it can be fulfilled when the time comes?"
"Since the imperial court is not so short of money now, it can be fully reserved.
Vouchers were issued to replace silk and copper coins that were inconvenient to circulate. ” Li Chao said a bunch of very professional words, and Li Shimin listened to it in a fog, but he also heard that Li Chao was very opposed to the issuance of treasure banknotes by part of the imperial court's reserves.
"Your Majesty, paper money itself is not wealth, and it cannot be compared with copper, gold and silver coins, not even silk and silk.
You must be cautious in issuing treasure money. ” "Listening to you, it doesn't seem that simple."
He thought for a moment, "Then it is indeed too inconvenient to issue vouchers first and use silk cloth and even grain as currency."
Gold, silver and copper are insufficient, so they can only be guaranteed by silk cloth and issued vouchers to circulate.
Wenyuan, this money printing technology has to be provided by you. ” After a pause, he said, "Since the issuance of treasure banknotes has such a great impact, I don't think Li Ji can overissue them at will in the future." ” Li Chao frowned when he heard this.
"Your Majesty, we Li Ji can guarantee the credit of the treasure banknote and will not affect the exchange and use."
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"It's better to be careful."
"Your Majesty, Li Ji Qian Zhuang is willing to raise the reserve to 30%, and in addition, we are willing to pay 10% of the issuance tax to the imperial court if the issuance part of the reserve is exceeded."
At this time, Li Chao could only come up with some real sweet benefits to make profits.
In excess of the part, 10% of the issuance tax.
Li Shimin smiled.
"You issued 20 million yuan of treasure money this time, right, the reserve is 2 and a half, and you only have 5 million reserves.
In addition, in order to ensure the interests of the common people and merchants, I felt that Li Ji Qian Zhuang should deposit the reserves in the newly established Qian Zhuang of the imperial court. ” "Li Ji can raise the reserve to 30%, and we can put 20% of the reserve in the central bank of the imperial court to ensure the interests of the people."
Li Shimin thought for a while, "It's okay, you go back and increase the reserve to six million, and send another 1.2 million yuan to the central bank of the imperial court."
Remember, it must be gold, silver, copper, or silk, not treasure money. ” "Also, you have to pay 10% of the issuance tax to the imperial court for the overpayment of 14 million yuan, and you will pay the 1.4 million yuan tax in return.
In addition, I will send people from the household department, Taifu Temple and other yamen to station in your money village and be responsible for supervision. ” Li Chao nodded in agreement.
The development of Li Ji Money Village is no longer as simple as a simple money bank.
Li Shimin only put forward these demands today, and it is estimated that he has endured them for a long time.
And it is not easy to be able to receive it when you see it today.
Adding an over-issuance tax and adding a security deposit seems harsh, but it is better than Li Shimin directly taking away the right to issue treasure banknotes.
With 30% of the reserves, the scale of Li Ji Qian Zhuang can still have a lot of room to make a fuss.
Central Qianzhuang, this name that Li Chao said casually, Li Shimin adopted.
But thinking about it, I feel that the Central Money Village and Li Ji Money Village are too similar to each other, and they can't reflect the majesty of the imperial court.
"It's better to call it Qian Xing," said the eldest grandson Wuji.
"Call the bank."
Li Chao really can't accept the two money banks, it's better to be a bank, he doesn't want to call the central money bank in the imperial court, and his family is called a bank instead.
It's not called Li Ji, it's called another lofty name.
"Then call it the central bank, which belongs to Taifu Temple and is specifically responsible for issuing vouchers, so call it gold coupons, and don't call it vouchers."
Li Shimin made a decision.
As a result, the Li family is still called Li Ji Qian Zhuang, and the banknotes issued by the Li family are called treasure money.
The imperial court set up a new institution, which was subordinate to the central bank of Taifu Temple, which was responsible for issuing paper money, called gold bills.
In addition, he is also responsible for auditing and supervising private industries such as Li Kee Money Zhuang, money banks, pawnshops, etc.
In the future, those who do deposits, loans, and issuance of these must pay a deposit of 20% to the central bank.
Li Kee issued treasure banknotes, which had to be handed over to the central bank at 20% of the reserves.
Li Kee also had to take out 30% of the deposits as deposit reserves, and deposit 20% of the reserves into the central bank as a margin.
And the money is placed in the central bank of the imperial court, and there is no interest.
Li Chao was very suspicious that Li Shimin would collect the money and it would probably be misappropriated.
But it's difficult to leave the court alone.
This time, there was some blood, and a few hoops were added to his head, which made the emperor feel relieved.
The loss of Li Ji Qian Zhuang is not large, and it still guarantees future development.
As long as Li Ji doesn't close the door, the money he takes out can be earned back at any time.
Li Shimin felt satisfied.
Li Ji Qianzhuang, the golden rooster, finally plucked several handfuls of hair today.
I've always been envious, the chicken that lays golden eggs.
Originally, he really wanted to give Li Ji Qian Zhuang and buy it, but the imperial court often did this kind of thing anyway, and if he liked something that was particularly good, he would first give him qualifications such as tribute, and then ask for it and buy it.
What is your jute paper is good, then it will be a tribute, and the palace will not want you in vain, spend money to buy, place an order, and you will supply hundreds of thousands of horses to the court a year, and the price is easy to say.
In fact, the price is surprisingly low, just like selling charcoal, a car of charcoal, a little silk to buy.
The essence of buying is that the imperial court buys at a low price.
Most of the bought ones still have to be sold, and then sold at a high price.
And buying, which is equivalent to official downfall.
However, because Li Chao has been cheated a lot of money recently, the land in southern Liaoning, the island of Liuqiu, has been sold for more than 10 million, and what kind of slave capture permit has been sold for a lot of money, he feels that the Li family's money has been almost cheated by him, and he is a little embarrassed in his heart.
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So, today's point is over, and the Li family's golden rooster has plucked a few pinches of hair, and this golden rooster is not robbed.
Anyway, in the future, the eggs laid by the golden rooster will also be scored for him.
"Oops, the meals are all ready, it's time to start."
Li Shimin smiled with satisfaction, as proud as an old hen that had just laid eggs.
Li Chao looked at the table of dishes, the dishes were quite rich, there were more than a dozen hot and cold dishes, but he calculated that he was at least made millions by Li Shimin today, this table of meals is really the most expensive in the world.
"Come, Wenyuan, Mowgli, you're welcome, eat vegetables" Li Shimin warmly entertained. t1706231537: