Chastity Layman

However, the Luzon Coin Supervisor has brought not only these benefits, but also the legal right to mint coins. Luzon's coinage has gone from hundreds of thousands of coins a year to several million coins a year, even exceeding The total mintage of more than 30 mint supervisors in Datang.

Not only will the currency circulation in Luzon be sufficient to stabilize the economic development, but it will also allow the Qin family to export currency to Wa, Linyi, Liaodong, Bohai, Linyi and other places. With this huge amount of coinage, the financial business of the Qin family also All over Haidong and the South China Sea countries, it can be said that the Qin family has the advantage of minting coins for storage and lending and exchange bills, so that they can be successful in these businesses.

The financial business run by the Qin family earns dozens of times the income from coinage.

What's more, because the Qin family has the right to mint coins, they can use the iron they dug up to replace them with copper in large quantities through Danquan, and then cast them into money for circulation. This is a perfect cycle. If the Qin family loses the right to mint coins, then The copper, iron, gold, and silver that will be produced in the future cannot be directly drawn to make money, but must be sold to the imperial court as usual after the mining class is completed.

In that case, not only will the high added value generated by mining and casting money disappear, but even the pricing power of these minerals will be lost. If they can only be sold to the imperial court, the price will naturally be determined by the imperial court.

Not to mention whether the imperial court will suppress the price, but if the official copper price of one hundred and six catties has always been used by the imperial court, it will also suffer a huge loss. You must know that the Qin family used the copper they dug or smelted to make coins. The added value is very high.

"Isn't the imperial court just wanting to take back the right to mint coins? Does it also want to issue new regulations on mining? Is it going to be official someday?"

From the time of Shang Yang, the Qin Dynasty implemented the official mountain and sea policy of Qi State, and established official salt and iron camps. Later, the first emperor unified the world, implemented official-run private mining, and collected taxes and profits.

At the beginning of the Western Han Dynasty, the salt and iron policy was relaxed, but Emperor Wudi of the Han Dynasty attacked the Xiongnu for money for military use, and through the salt and iron conference, the salt and iron monopoly system was re-established.

From the Wei, Jin, Southern and Northern Dynasties to the Sui Dynasty, the situation was turbulent and the system changed. During the Sui Dynasty, the copper mining industry was fully developed, and the mining rights of copper mines were brought back to the state. The Yao slave system was adopted, and the copper mines were mined with people's power, mainly to control the resources for casting coins.

After the founding of the Tang Dynasty, the Wude Dynasty lifted the ban on salt and iron, allowing private and commercial mining operations. In Zhenguan, mining taxes were imposed. The court generally allowed the common people to mine gold, silver, copper, iron and other ores.

The common people are allowed to explore and mine minerals, but they need to obtain a license, and they have to pay the ore tax according to the output. For important ore iron, an official purchase policy is also implemented. Just like salt, private salt production is allowed, but the salt produced can only be sold. To Guancang.

Because the Qin family has the right to mint coins, all the previously obtained licenses, after smelting the mined iron ore, copper ore, etc., pay 20% of the mining tax, and the rest can be supplied to the Luzon Coin Coin Supervisor.

"I have sent people to inquire. The iron case of the three divisions of the imperial court, the contingency case of the Ministry of Industry, and the Ministry of Finance of the Ministry of Households are all in charge of mining and metallurgy. Private prospecting and reporting of mines are still allowed and encouraged, and even priority is given to mine reports. The right to buy, but also put some areas into the exclusion zone."

As Qin Lang guessed, the imperial court obviously saw that Lu Song's mining and metallurgy industry and coinage industry were too strong, so now they raised their swords.

The folks are allowed to continue exploring, mining, and smelting, but the gold, silver, copper, iron, etc. obtained will first be paid to the mine's purchase money, and then the mining tax will be paid according to the output. The mining tax is 20%, which is very high.

A more ruthless move is that in the future, like salt mining, all the gold, silver, copper, iron, nitrate, sulfur and other minerals obtained from mining will be sold exclusively to the imperial court after the mining class is completed. There is also a unified standard, for example, copper material is one hundred and sixty yuan per catty.

The imperial court also stipulated that the private minting of coins was prohibited and the previous authorization was cancelled.

The Lusong Money Casting Supervisor will be turned into an official court operation, and the imperial court will spend money to buy the Lusong Casting Money Supervisor. They are willing to take over all the workshops, money furnaces, and industrial workers.

At the same time, the imperial court issued new regulations for the prosperous financial industry. For example, all banks, money houses, gold and silver shops, and ticket offices that operate storage, lending, and remittance businesses must deposit reserves in the Kaiyuan Bank, which is officially run by the imperial court. .

Moreover, the deposit reserve ratio is frighteningly high, it is actually 30%. What's more terrible is that the imperial court stipulates that the reserve must be paid in gold and silver coins, not copper coins and treasure springs, let alone bills issued by each family.

At the same time, supervision will be strengthened for all firms engaged in financial business in Datang, especially those that issue bills. And the original various banknotes, bank notes, money notes, redemption notes, etc. are unified into banknotes, and must be the kind that is redeemable at sight without a certificate.

For the banknotes issued by each family, a 30% reserve must be deposited in the Kaiyuan Bank, which is run by the imperial court, and the banknotes of each family must be printed by the imperial banknote printing factory, and private printing is prohibited. After the banknotes of each bank are printed, the exclusive anti-counterfeiting seals of each bank are added.

According to the new regulations of the imperial court, in the future, Luzon Bank, which is officially run by the Luzon government, and the Four Seas Bank, Taiping Bank, and Wu'an Bank, which are run by the Qin family, must also follow the imperial court's rules when engaging in related businesses.

In the future, it will no longer be possible to issue all kinds of banknote banknotes. More importantly, a 30% reserve must be paid and stored in the Kaiyuan Bank of the imperial court, and the money has only the lowest interest rate.

This is equivalent to the imperial court blatantly scooping up the wool of each family.

Although this does have a positive side, such as ending the increasingly chaotic financial industry situation, there are now various banks and money houses of all sizes on the market everywhere, and there are also many bills issued, although these bills are all It is issued in the name of vouchers, but in fact it will inevitably be overissued, which is an important way to make money.

However, there will be a risk that it will be difficult to cash in the over-issued. After all, the development of this industry is no longer based on their own money, but by absorbing people's deposits and then making money. In addition, over-issued loans Arbitrage, although the profit is very high, but there will always be bad debts and bad debts. Once the management is not good, it will also be very risky. For the court, this is no longer just a simple private commercial behavior.

Through the deposit reserve, controlling the lending ratio, and then through the banknote reserve, it is possible to avoid excessive and excessive issuance.

Essentially, it's all about reducing risk.

In fact, the big banks and banks in the hands of the Qin family and Lu Song have been doing this internally for the past few years, always keeping the risk low. It turns out that all the banks and banks under Qin Lang's control will have such reserves. But they are all deposited in the Banking Supervision Department under the Knight Academy.

Now, the imperial court wants to take the money away and deposit it with him.

Qin Lang had to worry about whether the money would be at risk, such as being embezzled by embezzlement, or being used for lending by the court itself, and secondly, the reserves required by the court were all real gold and silver, as long as gold and silver coins, not even copper coins.

If such a reserve fund of real gold and silver is turned over to the Kaiyuan Bank of the imperial court, then the ability to cash it will naturally decline.

Of course, the disadvantages are not limited to these.

On the one hand, the imperial court waved the big stick of supervision and called for the regularization of these private banks, but on the other hand, it took advantage of its own advantages to strengthen the Kaiyuan Bank, Zhenguan Bank, and several banks and banks operated by the royal family. .

The transshipment department has even prepared to officially launch a nationwide banknote issuance. The first batch of official Datang banknotes proposed by it has a first circulation of 12,563,400 guan, with a reserve capital of 3.6 million guan , with silver as the banknote, the reserve is equivalent to 28%.

Two percentage points lower than private ones.

In Qin Lang's view, what matters is not the two per cent, but the large amount.

This kind of treasure banknotes is different from the original banknote banks. After all, at the beginning of the banknote banknotes, there was no such thing as over-issuing banknotes. Customers deposit consistent money, and merchants will issue consistent money bills. Cash against bill acceptance, deduction of handling fee, the general handling fee is 3%. There are still some adjustments depending on the actual distance of the current acquisition.

Later, it will gradually increase in volume, and the larger the scale, the greater the volume.

But now the imperial court's first batch of brand-new and official treasure banknotes has issued more than 12 million guan, and the cost is only 3.6 million. In fact, nearly 9 million guan have been issued.

Although more than 9 million yuan is only the tea tax income of the imperial court for a year, and the salt tax is 30 million yuan a year, but after all, this is an extra 9 million guan issued out of thin air, and there is no half a copper coin behind it. .

Although the transshipment department also said that the old banknotes will be recycled for three years, and new banknotes will be issued at that time, but Qin Lang believes that once this opening is opened, there will definitely be more and more money in the future, which means that more and more money will be created out of thin air. more.

Although this method of printing money greatly increases the currency circulation and alleviates the problem of money shortage, this method is no better than mining gold and copper to cast coins. After all, the actual amount of gold and silver mining cannot increase too much, and it will not bring too much Inflation problems, but the method of direct money printing is still very risky.

Qin Lang was the first to print banknotes and invoices, but he never messed around and always controlled the scale. Even if he became a country of his own in Luzon, he didn't do anything wrong, so the overall prices in Luzon these years have been pretty good.

Although the price of Luzon, except for food, is equivalent to that of Guangzhou, Yangzhou and other big port cities, it is much higher than the prices of general states and counties in the mainland, but Luzon is a new overseas colony after all, and many commodities still rely on foreign shipments. Many fist pillar industries make the government, common people, and businessmen quite rich, and it is normal for prices to rise. What's more, Qin Lang deliberately adjusted the price rise, because this way, it would not be too short of scissors to cut the leeks of local farmers in Luzon.

Raising prices appropriately is actually beneficial.

Prices are too low. On the one hand, it means that money is heavy and money is scarce. On the other hand, it is easy to hurt the people at the bottom.