The next day, it was the rest day for the general, Huangzhou general manager, and Duke Yuwen of Zhu Guo. Without official duties, he still had no time to spare. He got up on time in the morning and walked around the Hulin Army camp outside the city, chatted with the soldiers, and lined up in the kitchen to make lunch.

Then he went to the military camp and related villages for a walk, and also had a heart-to-heart talk with the soldiers. After having supper at a soldier's house, he returned to the mansion in the city and was already on the lanterns.

The rest day ended like this, but Yuwen Wen didn't feel too tired. He was still young and had energy, not to mention that the situation was uncertain. If he didn't capture military power in the era of chaos, he would be seeking death.

The Hulin Army is his greatest capital and always holds it tightly. He also has to build the Huangzhou Prefecture Army with great effort, so he naturally has to hold it in his hands. The accumulated 9,000 troops of the two armies is Yuwen Wen's greatest reliance.

Those who use virtue to win others are just fooling fools. If I don’t obey, I will teach you how to be a human being with a knife. It is the truth.

When he returned to the mansion, he walked around the courtyards, and the big and small were all concerned about his well-being. Yuwen Wen had not yet settled down when he returned to Tingtao Courtyard, and things came again.

Sima Yang Ji, the chief supervisor who inspected military affairs in Ezhou, returned to Xiyang this afternoon and came to report to the chief supervisor "while the hot". Anyway, Yang Ji lived in the side courtyard, and Yuwen Wen, the unscrupulous boss, was also very easy-going to Yang Ji, the contract worker.

As soon as Yang Ji came up, he placed a big book on Yuwen Wen's desk. This was the "Investigation Report" he wrote, which was completed in the format required by Yuwen Wen.

"What's the situation in Ezhou?"

"There is more than enough defense, but not enough attack."

“How is the grain inventory?”

"It is not until the autumn grain is stored in the warehouse that dares to say that it is self-sufficient, but even so, once the enemy is besieged by the city, if there is no foreign aid, the food and grass can only last for up to three months."

Yuwen Wen looked through the report carefully and asked some key questions from time to time. He was very busy, and his subordinates were also busy. He was transferred from the Hulin Army to serve as a backbone in the government office. Although he had already started, he still needed to be tempered, so Yuwen Wen had to keep tempering.

"Did you get ashore in Nangang?"

“In Bakou.”

“How do you feel?”

"There are many hidden dangers. If you make arson in detail, it will be very troublesome."

Yuwen Wen sighed when he heard this: "However, Lianggang is only one place. To develop business, the port must be opened. Junjun Xu is already renovating it, which takes time."

Yang Ji was not confused about this issue. He also participated in the planning of the renovation of Bakou Port, so the hidden dangers will be reduced a lot after the renovation is completed. This is a small matter, and what he is going to talk about now is a big matter.

"Duke, is the cabinet shop going to open?"

"Well, we need to circulate the circulation coupons."

Yang Ji glanced at Yuwen Wen and asked, "Duke, are the circulation coupons really going to be implemented?"

"Yes, didn't you say it long ago?"

Yang Ji has always disagreed with Yuwen Wen's issuance of paper money, even if he changed his name to "circulation coupons": What kind of circulation coupons is just the Ming Dynasty's treasure money? Sooner or later it will be over!

"Do you want to say that the circulation coupon is the Ming Dynasty's treasure banknote, and it will be finished sooner or later?" Yuwen Wen hit the nail on the head. Seeing Yang Ji nodding, he started the debate mode.

"Do you know what deflation is?"

Seeing Yang Ji being shocked by the new noun, Yuwen Wen was quite proud. He had already had an experience in dealing with Yang Ji, which was to use various nouns to scare the other party, and then defeat the other party with rich experience in the forum.

Currency in circulation, also known as currency, is called currency. When the currency circulating on the market decreases, the people's currency income decreases, the purchasing power decreases, affecting prices to decline, which leads to deflation.

Yang Ji couldn't understand at all. Yuwen Wen wanted this effect. In modern society, those unscrupulous businessmen fooled the elderly to buy various high-tech health care products, and this trick was used.

"The Ming Taizu issued treasure banknotes imitating the story of the Mongolian Yuan Dynasty, and stipulated that the Ming treasure banknotes were always equivalent to one tael of silver, one thousand copper coins, and one stone of rice, which was also possible. The original intention was good, but there was no 'reserve'."

"What is 'reserve'? Simply put, every time a consistent treasure banknote is issued, the national treasury must have one tael of silver or one thousand coins deposited. This is to ensure the credit of the treasure banknote and ensure that the treasure banknotes of various denominations will not depreciate."

"What is credit? Since the court stipulates that the Congregational treasure banknotes can be exchanged for one tael of silver or one thousand coins, it is necessary to ensure that the banknote holder can exchange sufficient silver or copper coins in the circulation area, but it cannot be exchanged. Not only that, it will be even worse."

"It is too much issued on a large scale, and it is completely untrustworthy. The court regards Baochao as paper, so the people regard Baochao as paper. In less than seventy years, Baochao has depreciated so that it has always been exchanged for two cents of copper coins. Is it the fault of Baochao or the court's fault?"

"Don't be excited when you see the banknotes. Daming Baochao turns into waste paper. This is a credit issue, not a material issue, understand?"

"The Mongolian Yuan issued paper banknotes only between one hundred and two million ingots. The Ming court was better off. It issued more than 20 million ingots of treasure banknotes, but there was no reserve. This led to an extremely excessive amount of treasure banknotes on the market and a large-scale depreciation. It was not trustworthy, and it was also accused that the unruly people were not polite to the court."

"Overage currency on the market leads to inflation, while on the contrary, shortage of currency on the market leads to deflation."

Speaking of this, Yang Ji realized that "deflation" probably means money shortage. Yuwen Wen continued to give advice: "The circulation coupons are exchanged for the same cloth one by one, and the reserve is the fine cloth of Huangzhou."

"Will Huangzhou lack fine woven fabrics? Not for the time being, the fabric shops participating in the joint guarantee have woven fabrics, and they are stored in the cabinet shop as reserve for circulation coupons. Customers are welcome to exchange them with circulation coupons at any time. There is no limit on the exchange, and this is credit."

"With credit, even a piece of grass can be exchanged for money, which is very different from the Ming Taizu's messy move. You have seen the circulation coupons, and the anti-counterfeiting measures are appropriate, and they are only circulated in Xiyang City, so you are not afraid of fraud."

"As for the issue of issuance, you don't have to worry. Ruixing will be responsible for the issuance of circulating coupons, and the issuance will be determined by the Guest House. The owners participating in the joint guarantee have the right to speak. Major resolutions will be made to vote, and the minority will obey the majority."

"Of course, the principle is to issue one to one, and issue any coupons with a face value as much as the pizza. Based on redundancy considerations, it must be slightly increased, but at most no more than 10%.

"The warehousing house is responsible for counting the total issuance and recycling of circulation coupons, calculates the total face value still circulating on the market, prepares sufficient woven fabrics, and is ready to accept redemption at any time."

Seeing that Yuwen Wen was very wise, Yang Ji gave up the idea of ​​arguing.

He knew that he could not fight, but since the other party knew it, it would be fine. Yuwen Wen repeatedly emphasized "deflation". Thinking of the private search furnace some time ago, he thought in his mind whether something was going to happen.

"You are right. The problem of privately casting copper coins has been temporarily suppressed, but the problem of privately hiding copper coins is unsolvable. The big investors hoard good money in units of tens of thousands of yuan. If this continues, there will be no enough copper mountains. If there is less good money circulating on the market, sooner or later there will be a shortage of money."

"That is, deflation leads to price declines, money is expensive, and things are cheap, and things are cheap and farmers are hurt."

"Farmers worked hard for a year and used the crops they earned to sell to earn money to support their families, but their income was getting smaller and smaller. At that time, people were living in poverty. How could they sit still as local officials?"

When Yang Ji heard this, he was moved: "Is the matter so serious?"

"Of course not now, but you have to prepare for the future." Yuwen Wen said, this was his consideration.

"You have read historical books and you should know that in the Middle Tang Dynasty, it was common for wealthy families in Chang'an to privately store more than 500,000 guan of copper coins. The Tang court was very worried about the money shortage. Nowadays, there are not many wealthy families in privately store copper coins. Since ancient times, there is not enough good money on the market. Once the money shortage breaks out, it will be too late to find a way."

"I have sent someone to investigate that Xiyang's business is booming. Because it is selling cloth, it does not require cloth to be used as payment. The demand for copper coins has increased greatly. The amount of good money that can be circulated has not increased, but it has a downward trend."

Yuwen Wen briefly explained the current situation, cracking down on private casting and pursuing furnaces, and recycling bad money circulated on the market, so the amount of money circulated has decreased. Although Dayejian's money is being invested, the total amount is still decreasing.

Why is it reduced? It’s very simple. Privately minted bad money is gone, and most of the circulating money is made. However, some people hide the circulating money and withdraw the money from circulation. Then the currency on the market will naturally be reduced, so deflation will inevitably occur.

There is no solution to the fact that privately hiding copper coins is not allowed. After all, the government cannot control the money. In the middle of the Tang Dynasty, the problem of privately hiding copper coins by large households was serious, so the court ordered the limit on the amount of money hiding, intending to solve the problem of money shortage.

However, the powerful are the first to disobey the rules. Others follow the example and want to use administrative means to disobey economic laws. That is delusion.

Yuwen Wen is not a god who can change the rules of the plane, so he can only change his mind and replace copper coins with circulation coupons to ensure the quantity of currency on the market. If you succeed or not, let’s talk about it.

The previous behavior of privately minted currencies led to a large-scale influx of bad coins into the market, resulting in excessive currency, that is, inflation. Now Yuwen Wen cracked down on privately minted coins and promoted sufficiently good money making, but due to the behavior of privately hiding copper coins, there was a deflation (money shortage).

Pressing the gourd to float, Yuwen Wen cracked down on private casting, and the effect was that although the inflation was curbed, the behavior of hiding coins in private led to signs of deflation.

If it is placed elsewhere where commercially underdeveloped places, it would be fine if the people use cloth to replace copper coins or barter them to trade. The key is that Huangzhou is a "weird" flower. Because of the large-scale production of cloth, most of the cloth transactions are made of copper coins.

Xiyang City has a huge demand for copper coins, so the consequences of deflation will be doubled. Yu Wenwen, a "economist" who was born in a wild way, needs to use circulation coupons to share most of the circulation functions.

"It takes credit and time to promote circulation coupons. It would be too late to find a solution when the money shortage occurs." Yuwen Wen pointed out his real intention, "Huangzhou's business is very important and immature, and cannot withstand such storms."

After hearing this, Yang Ji understood Yuwen Wen's good intentions. Only when the two of them had a "special relationship" would the other party be so "confessed". Yuwen Wen's idea of ​​solving the problem was very novel, which is why Yang Ji admired.

However, based on his rough understanding of Yuwen Wen, he felt that things would definitely not be that simple.
Chapter completed!