My father, Li Shimin, please call me Crown Prince

Chapter 271 The Crown Prince Issues Paper Money, Li Shimin Is Furious

June, the eighteenth year of Zhenguan.

The glory of the Tang Dynasty was like the bright sun, spreading across the Liaodong Peninsula.

Liaodong was unified and congratulations came from all directions.

The surrounding tribes and small countries were afraid of the majesty of the Crown Prince of the Tang Dynasty and did not dare to make any rash moves.

To the Tang Dynasty, Goryeo, Silla, and Baekje were just three small countries.

But looking at the entire East Asian region, the three countries are indeed among the top powers.

However, even such a great country was completely destroyed by the Crown Prince of the Tang Dynasty and completely incorporated into the territory of the Tang Dynasty. It can be said that such deterrent power has been fully exerted in today's era.

Of course, military conquest is only the first step. How to make this land truly belong to the Tang Dynasty and achieve long-term stability is the top priority.

Soon, Li Chengqian promulgated a series of policies that had been prepared long ago.

The first thing is to vigorously promote advanced agricultural technology. In the field of agriculture, the people of Liaodong still have a big gap compared with the Tang Dynasty.

Agricultural Promotion Offices were set up in various places in Liaodong.

The relevant agricultural technologies were compiled into a book, and officials who were familiar with farming, had a strong sense of responsibility and were enthusiastic about the new policies were carefully selected to serve.

The primary mission of the Agricultural Promotion Office is to sow the seeds of advanced farming techniques on this land.

The craftsmen worked day and night to make curved plows and various farm tools to ensure the people's reclamation and cultivation.

A large number of soldiers were laid off and returned to farming.

As the old saying goes, a good man doesn't join the army.

In this era, most young and middle-aged people are very resistant to joining the army.

This policy has made a large number of people grateful.

In the entire Liaodong Peninsula, the former Goryeo, Silla, and Baekje areas, the total number of troops left by Li Chengqian was less than 120,000.

This number is a world of difference compared to before.

These soldiers who stayed behind were, first of all, relatively young, basically around 25 years old. Secondly, they had experienced many wars themselves, and could barely be considered elite.

In addition, a large number of public security departments were set up in various places in Liaodong, and retired soldiers with meritorious service were basically placed in the public security departments.

There are about 50,000 police officers maintaining law and order.

In addition to farming, waterwheel technology was introduced for irrigation.

Skilled craftsmen were arranged to build water wheels near rivers, using the natural power of the water flow to lift water to farmland, ingeniously solving the irrigation problem in some areas.

At the same time, people were encouraged to dig wells and use windlasses to draw water to further ensure water supply for farmland.

In order to increase grain production, we actively promote crop rotation and intercropping techniques.

He patiently taught the people to plant different crops in sequence on the same land, such as rotating wheat and soybeans, which could not only maintain soil fertility but also increase total crop yields.

The people could also get some tax exemptions for the private land they reclaimed.

Farmers who have reclaimed a certain scale of land are not only given material rewards such as oxen and seeds, but also awarded honorary titles, making them highly respected in the village.

In order to ensure the implementation of the policy, Li Chengqian set up a special supervision team to conduct strict inspections on land reclamation in various places to prevent officials from corruption and infringement on the interests of the people.

The prosperity of business is a powerful engine for regional development, and Li Chengqian is determined to build the Liaodong business circle.

Transportation is the lifeline of commerce, so he ordered the conscription of laborers to widen and repair roads connecting major cities on a large scale.

Setting up post stations at more transportation nodes not only facilitates the rapid delivery of official documents, but also provides comfortable places for business travelers to rest and replenish supplies.

In order to create a fair and orderly business environment, Li Chengqian decisively abolished many unreasonable checkpoints and taxes.

And publish unified weights and measures.

It was clearly stipulated that in the Liaodong region, whether it was Tang Dynasty merchants, local merchants, or foreigners, all must use unified measuring instruments to ensure fair and just transactions.

In order to attract more merchants to trade, Li Chengqian demarcated large areas in major cities and established large markets and commercial areas.

Many preferential policies are given to foreign merchants, such as providing free stalls, tax reductions and exemptions, etc.

Among these, the biggest policy.

It is undoubtedly Liaodong Tongbaohang.

Li Chengqian has always wanted to issue paper money and print money, which is almost directly converting credit into cash. Once successful, the profits at the macro level will be beyond imagination.

However, in the Tang Dynasty, due to the relationship between aristocratic families, the issuance of paper money was greatly restricted.

But this is Liaodong, the land of Liaodong where Li Chengqian's will is fully implemented.

It is unrealistic for a prince to forcibly issue paper money, and even the common people would not approve of it.

However, if you change the angle, there won't be such great resistance.

First is the technical level.

When choosing paper, special paper must be used. This paper must not only be tough and not easy to damage, but also have certain anti-counterfeiting properties.

Earlier, Li Chengqian had asked craftsmen to conduct repeated experiments, and finally the paper made with mulberry bark as the main raw material met the requirements.

In terms of feel and durability, it is far superior to ordinary paper, and some linen fabric is added to increase its toughness.

Then there is the multi-color overprinting technology.

This involves the production of ink.

Although it is difficult to develop copper movable type printing for the time being, research on inks has been ongoing and has achieved certain breakthroughs.

The printing of banknotes uses ink made from a special formula.

The sculptors carefully carved out intricate and detailed patterns and texts.

In printing, three-color rubbing is used.

And it was copperplate printing, not the previous woodblock printing.

Simply put, it means repeating the rubbing three times on the same banknote so that the banknote will show color changes under different angles of light, thereby increasing the anti-counterfeiting function.

Such anti-counterfeiting measures are naturally second to none in today's era.

The denomination system is also quite rich, including eight types: ten cents, twenty cents, fifty cents, one hundred cents, five hundred cents, one string, five strings, and ten strings.

It covers everything from smaller coins to larger amounts of banknotes. From daily market transactions to commodity transactions, you can find banknotes of suitable denominations for payment.

This paper currency was not issued in the name of the royal family, but in the name of Liaodong Tongbao Bank.

Simply put, it is similar to the bill for depositing money in a bank.

These "notes" can be exchanged for copper coins at Liaodong Tongbaohang at any time.

The bill itself can also directly participate in the transaction.

Liaodong Tongbaohang only recognized bills and not people. Anyone who brought the bills could directly exchange them for copper coins.

In this way, the people's and merchants' recognition of paper money can be very intuitive.

After all, Liaodong Tongbaohang was a business under the name of the prince.

These banknotes, one string, five strings and ten strings, have Li Chengqian's portraits depicted from three different angles.

In order to ensure the smooth issuance and circulation of banknotes, Li Chengqian formulated a detailed issuance plan and management system.

It was stipulated that "Liaodong Tongbaohang" was the only banknote issuing institution, and the issuance of banknotes was strictly controlled.

In terms of promotion, pilot projects will be carried out first in major cities and commercial centers in Liaodong region.

Through official publicity, the public is provided with detailed information on anti-counterfeiting of banknotes.

July, the eighteenth year of Zhenguan.

Liaodong Tongbaohang officially opened.

On this day, the commercial centers of major cities in Liaodong were bustling with activity, with loud gongs and drums and firecrackers.

The gate of Liaodong Tongbaohang was decorated magnificently with lights and decorations in front of it, attracting the attention of countless people and merchants.

In a certain market.

A small vendor named Wang Er was looking at the brand new banknotes in his hand with curiosity.

This was the "note" he got from depositing ten coins in the Liaodong Tongbao Bank.

This ten-cent banknote has a different paper texture than usual and feels tough. The patterns and text on it are delicate and exquisite, and the color changes subtly under the sunlight.

Although Wang Er listened to the official propaganda, he still had doubts in his heart. He took the banknote and walked towards Aunt Zhang who was selling cloth nearby.

"Aunt Zhang, do you think this thing can really be used as money? Although it looks good, why do I feel unreliable?" Wang Er said with a frown.

Aunt Zhang answered as she sorted the cloth: "I heard from the propaganda that this is issued by Liaodong Tongbao Bank under the name of His Royal Highness the Crown Prince. It is like a bank note and can be exchanged for copper coins at any time. And look at the workmanship, how fine it is, and the anti-counterfeiting pattern, I think it is true."

At this time, a man who looked like a teacher interrupted and said, "The issuance of this banknote is a big deal. Your Highness the Crown Prince has carefully considered the implementation of this.

It is easy to carry, and we don’t have to carry heavy copper coins when doing business in the future.”

In this era, especially for large transactions, copper coins were carried in baskets by servants, and counting them was a laborious task.

Wang Er listened and nodded slightly, seeming to be somewhat moved. He turned and walked towards the rice and flour stall not far away, hesitated for a moment, took out the ten-cent note, and asked the stall owner: "Brother Li, I will use this note to buy two kilograms of rice from you, okay?"

Brother Li took the banknote, examined it carefully, and checked it against the official anti-counterfeiting guide. After confirming that it was correct, he smiled and said, "Okay, this banknote will be money in the future, so what's wrong with it?"

As he spoke, he weighed the rice for Wang Er.

This scene was seen by many people around, and some people who had originally been on the sidelines began to have more confidence in paper money.

In this small market, paper money began to circulate slowly. Although there were still some bumps in the road, it had taken the first step towards being integrated into people's lives.

The reason why it is so direct has a lot to do with the fact that this banknote was made by the Crown Prince of the Tang Dynasty.

For all farmers, they have already felt the benefits of the curved plow.

The Crown Prince of the Tang Dynasty has been dubbed a 'saint', and with the promulgation of various policies such as land reclamation, his credibility can be said to be fully maximized.

Whatever the prince says is the truth.

The largest bazaar in Liaodong City, the shop owners of major businesses gathered at Liaodong Tongbao Bank.

Tongbao Bank is spacious, bright and elegantly decorated. The waiter enthusiastically introduces the rules of using banknotes to everyone.

Chen, the owner of a silk shop from Chang'an, looked at the banknotes in his hand with excitement in his eyes. He said to his colleagues: "If this banknote can be circulated smoothly in Liaodong, our business will be much easier. In the past, carrying a lot of copper coins was not only heavy but also unsafe. Now with this light banknote, trade is much more convenient."

Manager Liu, the owner of the nearby herbal medicine store, also nodded and said, "Moreover, His Royal Highness the Crown Prince has many preferential policies for us foreign merchants. It seems that the Liaodong business circle is going to flourish."

With the pilot implementation of paper money, the transaction mode in the commercial center has gradually changed. The shop counter, which was originally piled with copper coins, now has a special box for storing paper money. When trading, merchants no longer need to count copper coins laboriously, but only need to take out the corresponding denomination of paper money, and the transaction will be completed quickly.

In a large porcelain shop, a Persian businessman was bargaining with the shop owner, and finally bought a batch of exquisite porcelain for five strings of paper money.

The Persian merchant said happily: "I have never seen this kind of paper money before. It is so convenient. In the future, trade with the Tang Dynasty will definitely become more frequent."

As time went on, more and more merchants began to accept and love paper money.

They found that the use of paper money not only improved transaction efficiency, but also reduced transaction costs. Some small transactions that were previously abandoned due to the inconvenience of carrying copper coins have now become active again due to the emergence of paper money.

From a macroeconomic perspective, the issuance of paper money has accelerated the circulation of money in the market and greatly improved the efficiency of fund use.

This is similar to online transaction payments in later generations, where the flow of money becomes faster.

This convenient and fast way, without any worries, allowed paper money to begin to be involved in economic activities on a large scale.

It was initially in the Liaodong region, but only lasted for over a month, in early August.

The circulation of paper money had already reached the inland of the Tang Dynasty.

The first to be hit was the Hebei Province of the Tang Dynasty.

This was something made by the Crown Prince. Due to the trust of the Crown Prince of the Tang Dynasty, many merchants in Hebei can directly accept paper money for purchases.

Who would like to buy and sell some goods and bring in a few baskets of copper coins?

One guan of money is equivalent to one thousand copper coins.

Now, just carry a piece of paper with you.

Although the only way to exchange money now is at Liaodong Tongbaohang, more merchants believe that once the prince has dealt with the affairs of Liaodong, he will definitely return to Chang'an.

After all, outsiders don’t know some of the royal family’s secrets, and the prince is the future emperor.

In the future, there will definitely be Tongbao banks throughout the Tang Dynasty, and this paper currency will naturally be able to be exchanged in the Tang Dynasty.

Even now, going to Liaodong to exchange is just a little troublesome.

Merchants' trade has always been fast.

Soon, paper currency transactions began to appear in Chang'an City.

The transactions were mainly based on large quantities of goods such as one or ten strings of coins, and big merchants liked to use the "bills" of Liaodong Tongbaohang for payment and purchase.

When the merchants in Chang'an heard the news, they immediately recognized the "bills" of the money houses under the name of the prince.

The portrait of the prince on the Guanchao banknote caused quite a stir.

Fortunately, the Chang'an Dibao had already published a copy of the prince's portrait before, so it was easy to accept this time.

However, when this news reached the palace, the meaning was slightly different.

end of August.

Inside Tai Chi Palace.

Li Shimin looked at the three portraits of the prince from different angles on the one, five and ten string notes on the dragon table, and his face darkened slightly.

(End of this chapter)