stjorthotic Chapter 162: The Mongolian Yuan Collapsed Due To The Currency System [Please Subscribe, Please Subsc
Chapter 162: The Mongolian Yuan Collapsed Due To The Currency System [Please Subscribe, Please Subsc
"As I said before, paper currency itself has little value. Its main value comes from the credibility of the country's court.
"If the credibility of the country's court is there, then the value of banknotes will be there."
“But can the value of banknotes be maintained forever by relying solely on the credibility of the country’s imperial court?!!”
Yan Changqing glanced at Zhu Yuanzhang, Empress Ma, and the princes Zhu Biao, Zhu Di, Zhu Fan, Zhu Di and other princes below and asked.
However, Yan Changqing did not expect them to be able to answer this question.
Therefore, Yan Changqing turned around and wrote "Inflation" and "Deflation" on the wooden rice paper behind him, and once again wrote the five characters "Paper Money Treasure Method".
Then, Yan Changqing looked at Zhu Yuanzhang, Empress Ma and the princes Zhu Biao, Zhu Di, Zhu Fan, Zhu Di and other princes, and further explained:
"What has been done will be done again! What has been done will be done again!"
“In fact, many of the things that are happening now, and even things that will happen in the future, have happened almost exactly the same in history.
"It's just that the only lesson history teaches mankind is that mankind never learns lessons!"
"In the final analysis, the Ming Dynasty Tongbao banknotes are just imitating the Zhongtong Yuanbao banknotes of the former Yuan Dynasty."
"So we can take a closer look at how the Baochao system of the former Yuan Dynasty collapsed, which led to the collapse of the Yuan Dynasty.
"After all, the demise of the Yuan Dynasty, although it seems to be the same as other dynasties, was caused by the uprising of the people."
“But in fact, the main reason for the destruction of the Yuan Dynasty was the collapse of the Baochao currency system it promoted.
"After studying the operation, chaos, and collapse of the Yuan Dynasty's Baochao system, let's compare it with the current Ming Dynasty's Baochao system.
"Then you will naturally be clear about the drawbacks contained in the current Baochao system in the Ming Dynasty.
When I heard Yan Changqing's words again: "What has been done will be done again; what has been done will be done again."
Whether it was Zhu Yuanzhang or the princes Zhu Biao, Zhu Di, Zhu Fan, Zhu Di and other princes, they were all very energetic.
Because the last time Yan Changqing said this sentence, he was talking about the shortcomings of the Ming vassal system.
Yan Changqing turned around and wrote "Zhongtong Yuanbao Handover Banknotes" under the "Notes on Banknotes" on the rice paper on the wooden board behind him. At the same time, he wrote on the blackboard and said:
"Since the Qin and Han Dynasties, a monetary system with copper coins as the standard currency and gold and silver as auxiliary coins has gradually taken shape."
"Under this traditional currency system, copper coins, that is, copper coins, play the main transaction function. Gold and silver mainly play the role of large-scale transactions and wealth storage, and are less involved in circulation."
“But when it comes to large payments, the disadvantages of inconvenient transportation of metal currency and high transportation costs appear.”
"Therefore, in order to reduce the cost of currency transportation, Feiqian has been around since the Tang Dynasty. In the Song Dynasty, there were also Jiaozi and Huizi. In the past, the Jin Kingdom also had Jiaobao."
"It can be said that the history of the emergence and use of banknotes is very early."
"However, whether it is Feiqian in the Tang Dynasty or Huizi in the Song Dynasty, they are only expedient measures for a special period and for a special purpose.'
"From the perspective of true national unification, neither the Tang Dynasty nor the Song Dynasty really fully implemented and used these flying money and Huizi."
"The country that truly started the nationwide unification of promoting and using paper money, and the one that used paper money as the currency standard system, was the Yuan Dynasty!!!"
Below, Zhu Yuanzhang, Empress Ma, Prince Zhu Biao, Zhu Di, Zhu Fan, Zhu Di and other princes all listened attentively to Yan Changqing's story.
After all, there are plenty of people who can teach Confucianism and other saints and principles at any time and anywhere.
But things like banknotes and finance are, to say the least, unpleasant, and everyone in the government may not even understand them.
In addition, they also know what Yan Changqing's "Dragon Slaying Technique" talks about, which is of great benefit to them in governing the country.
Therefore, facing this rare opportunity, they are truly learning and listening with an open-minded attitude of seeking knowledge.
“Why did the Mongolian Yuan violate the copper-standard currency system that had existed in the Central Plains for thousands of years?!!”
"There are two reasons. The first reason is that it was influenced by the use of banknotes in the Song Dynasty and the Jin Dynasty."
"At the end of the Jin Kingdom, in order to cope with the financial difficulties caused by the war, the imperial court began to issue large-scale banknotes."
"However, due to the defeat of the war, constant military spending, and unlimited currency issuance, the Jin Kingdom's paper currency experiment eventually caused the society in the northern part of the Central Plains to fall into severe inflation and the national currency system collapsed."
“In order to successfully take over the political power of the Jin Kingdom and stabilize the economy, the Meng Yuan Dynasty at that time continued to implement the paper currency system of the Jin Kingdom in some areas.
"At the same time, Jiaozi and Huizi were also used in the Song Dynasty at that time. Although they were not officially promoted nationwide, the people of the Song Dynasty were also familiar with the use of banknotes."
"This laid the foundation for the later Yuan Dynasty to issue and promote banknotes from the perspective of national unification."
"The second reason is the need for business and trade among many countries spanning thousands of miles."
"In the eleventh year of Jiading, Ningzong of the Southern Song Dynasty, Genghis Khan sent a caravan and envoys to Khwarazmo, hoping to establish peaceful commercial relations."
"However, the large amount of wealth carried by the caravan made Khwarezm's general Yedala extremely jealous, so the general Yedara seized the merchants' goods and killed them." 1
"In fact, at that time, as a commercial empire that controlled the east-west trade routes, the ruling class of Khwarezm could not tolerate the Mongolian Yuan people sharing commercial interests with it, so they just ordered the killing of the Mongolian Yuan envoys."
"And the 'Blackmail Incident' eventually became the trigger for the Mongolian Yuan Dynasty's Western Expedition."
"During this Western Expedition, a multinational trading circle spanning thousands of miles was gradually established.
"In this kind of multi-country trade that often spans thousands of miles, the supply of traditional trading currencies such as gold, silver, and copper is limited by the output of currency materials, and the supply elasticity is small."
"And due to the characteristics of the currency material, there are disadvantages such as inconvenience in carrying and high transportation costs."
"Ultimately it is not conducive to the large-scale transactions and circulation of internal material resources in this kind of trading business circle that involves many countries and spans thousands of miles away."
"Finally, under the influence of these two reasons, the Mongolian and Yuan Empire abandoned the traditional precious metal currency system of gold, silver, and copper in the Central Plains and instead adopted a paper currency system."
Yan Changqing briefly explained the reasons why the Mongolian Yuan chose to use and promote banknotes.
[How did Khwarazm know about the fact that the guard general killed the Mongolian envoy?!!]
[Even in terms of time, it is accurate to the eleventh year of Ningzong of the Southern Song Dynasty and Jiading!!!]
[Shouldn’t “Dragon Slaying Technique” be a work by an ancient Saint?!!]
Zhu Yuanzhang looked at Yan Changqing, once again full of confusion.
He found that Yan Changqing knew the time and place of certain things very clearly.
And he may not even have heard of these things.
For example, Zhu Yuanzhang had never heard of the "blackmail incident" mentioned by Yan Changqing just now.
Of course, this is also related to him, or to the fact that Ming Dynasty has not yet collected and compiled a complete history book of the Yuan Dynasty.
After all, the Mongolian Yuan Dynasty has not yet completely destroyed the country. It can only be said that it has been pushed back from the Central Plains to the northern Xinjiang. It is possible to raise troops to harass the border again at any time, or even counterattack the Ming Dynasty.
Therefore, it is somewhat unrealistic to compile the history books of the Yuan Dynasty and give a final seal to the Mongolian Yuan Dynasty.
Therefore, in this case, people in the Ming Dynasty actually didn't know much about the past history of the Mongolian and Yuan Dynasties, except for some individuals who studied the history of the Mongolian and Yuan Dynasties.
...
[How big is this multi-national trading circle that spans thousands of miles away?!!]
[Can you really make a profit by transporting goods over such a large area?!!]
Hearing Yan Changqing's narration, Prince Zhu Biao couldn't help but be speechless. Just thinking about the multinational trading business circle that spans thousands of miles away is terrifying.
Of course, what makes Zhu Biao most curious is that if profits can still be earned in this way, then how profitable the so-called multinational trading business circle is.
After all, the farther the goods are transported, the higher the cost value of the goods.
The cost of transporting goods thousands of miles away is endless.
Therefore, Zhu Biao is very doubtful whether such a trade can earn profits.
【Thousands of miles away?!!】
【Khwarizm business empire?!!】
[Besides the Ming Dynasty, apart from the Beiyuan Dynasty, are there any other entities that can be called an empire?!!]
Zhu Di's eyes shone, and he seemed to hear that besides the Ming Dynasty, in addition to the remaining Bei Yuan forces, there seemed to be other powerful empires.
This made Zhu Di very interested and wanted to weigh the actual experiences of other empires.
Of course, Zhu Di also knew that he was not qualified now. At least he would have to wait until he wiped out the remaining forces of Beiyuan before he could be qualified.
At that time, he can go and see what other empires are like, and whether they can compete with him?!!
Yan Changqing glanced back, looking at Zhu Yuanzhang, Empress Ma, Prince Zhu Biao, Zhu Di, Zhu Fan, Zhu Di and other princes who were either surprised, curious, or shocked, with calm expressions.
If it was the original him, then Chang Qing actually didn't know much about these things.
At most, I only have a general understanding, but I don’t know enough to remember the time and place.
After all, he was a science graduate student in his previous life, not a liberal arts student.
But since he decided to abandon theory and follow literature, he consciously took the initiative to look for these historical documents.
In addition, in his previous life, he was able to study as a graduate student in science, which in itself proves his talent in learning.
Therefore, it is not too difficult for him to become familiar with the history if he is willing to search and research.
PS1: New books are on the shelves, and we are in urgent need of all the handsome guys, beauties, and big guys to order and customize them! I wish all the big guys who have full orders and customized books to get rich overnight, good health, and all the best.
Good luck! Thank you all! I kneel down to all the bosses!