My father is Yongzheng, and I am Qianlong?

Chapter 104 The idea of ​​minting silver coins took root

Due to his busy schedule with various affairs, Emperor Yongzheng has not yet finalized the standards for minting copper coins in the first year of his reign.

Emperor Hongli feared that some people with ulterior motives might increase the copper content of new coins in a prosperous era under the pretext that they should be more exquisite, so he took the opportunity to mention it.

Historically, Emperor Yongzheng had fallen for this trick before, which only increased public resentment towards him and the reforms.

After hearing this, Yongzheng nodded.

He also knew that officials and wealthy families would certainly not want to see a large increase in the amount of copper coins in the market, which would make life easier for ordinary people.

However, for the sake of the Qing Dynasty's longevity, Emperor Yongzheng did not want the people to be exploited too much, at least not during his reign. Instead, he wanted to accumulate some of the people's strength to make the foundation of his Qing Dynasty's rule more solid.

Yongzheng laughed and said, "It's the officials and wealthy families' own business if they are unhappy. If I were to consider their feelings, I wouldn't have opened the bank, let alone bother with your Ninth Uncle."

"What the Khan says is true, but in my opinion, it is better to guide than to block, and we must also consider the needs of wealthy families to increase their own wealth."

"In my humble opinion, it would be better to make silver the primary currency for future transactions, as this would be more in line with etiquette and rules."

At this point, Hongli also offered his own perspective.

Emperor Yongzheng was quite curious after hearing this.

Determined to reform the court and having ascended the throne in his forties, he was not afraid to use the most drastic measures to suppress powerful families.

But Emperor Yongzheng never considered the needs of wealthy families.

Actually, it's not that he couldn't consider it.

He never even considered caring about the feelings of the wealthy.

So, at this moment, Yongzheng asked him with a smile, "How does this conform to etiquette and rules? How is silver related to etiquette and law?"

"Etiquette and law are the rules and standards for everything in heaven and earth."

"Rites, music, and military expeditions originate from the Son of Heaven. Any amount of money that the Son of Heaven decrees can be used for trade and is equivalent to related items is only considered to be in accordance with the rites and the Way if the Son of Heaven permits the trade."

"For example, if the Khan allows a type of silver, which is minted and issued by the court like copper coins and also has a standard reign title or other etiquette symbols, to be used as currency for transactions, this type of silver can be called silver dollar or silver coin."

"In this way, the imperial court can promote the appreciation of these silver coins by limiting their issuance, so that wealthy people can increase their profits by hoarding these silver coins instead of hoarding copper coins."

"In addition, the imperial court can also increase revenue by issuing silver coins, forcing wealthy households to exchange their silver for silver dollars."

"As for maritime trade, in order to facilitate transactions and avoid trade being hampered by a shortage of silver coins, silver dollar notes similar to paper money can be used instead, if such silver coins are referred to as silver dollars."

"In this way, Westerners who come to trade with China will have to exchange silver for silver dollars before they can trade."

"Anyway, when Westerners come to China to trade, all they want are Chinese silk, tea, and porcelain. Letting them exchange these things for silver dollars is the same thing."

"However, they will definitely exchange a large number of silver dollars in advance for the sake of convenience in the transaction."

As soon as Hongli finished speaking, Yongzheng seemed to understand and chimed in: "In this way, if they intend to be enemies of my Great Qing, I can make their silver notes worthless!"

Hongli chuckled awkwardly: "It's best not to do this unless absolutely necessary."

Yongzheng nodded.

Then, Yongzheng pointed at Hongli and said, "You are very shrewd in this regard, but it is too early for the court to mint the silver coins you mentioned. If silver is suddenly banned, the country will be in chaos!"

"What Khan Ama said is right. We need to proceed step by step. We can first allow silver dollars and silver to be traded at the same time. In addition, as the revenue of the Imperial Household Department and the national treasury increases, we can gradually increase the amount of silver dollars minted and issued."

"If our Great Qing Dynasty is to govern the country with propriety, then there should be a national currency that can only be issued by the emperor. Copper coins can be considered national currency, but copper coins are only suitable for small transactions. There should also be a national currency suitable for large transactions. This will also curb the local people from exploiting the people too much."

Hongli said.

Emperor Yongzheng clapped his hands in excitement.

He could imagine how much the imperial court would strengthen its power if it used silver dollars to control the consumption of wealthy households and foreign tribes.

However, this also made him dissatisfied with the current profitability of the Huimin Money Shop under the Imperial Household Department.

He only earned 100,000 taels of silver in half a year.

Too little!
The amount of silver needed for large-scale commodity transactions in the Qing Dynasty was simply not enough to fill a tooth gap!
The silver revenue from the Qing Dynasty's treasury was also used for military and civil expenditures.

It should be noted that a single large-scale military expenditure can cost tens of millions of taels of silver.

As the emperor, Yongzheng knew better than anyone how large a supply of silver coins would be needed to truly promote their use throughout the country. However, after Hongli told him about this idea of ​​increasing monetary power to strengthen imperial authority, the idea began to take root in his mind.

This made it impossible for him to ignore the enormous benefits this approach brought!
"Lower the interest rates a bit more to encourage people to take out more loans and repay the banks more money."

Therefore, Emperor Yongzheng gave Changling such an instruction.

Hongli was greatly alarmed upon hearing this.

Changling himself knelt down: "Master, please reconsider! If you lower the interest rate again, the wealthy families will devour this servant alive! The current interest rate is already enough to make many wealthy families grit their teeth."

"I am cutting interest rates to benefit the people, and I still have to consider their opinions?"

Yongzheng asked a question in return.

Changling said, "That's not what I meant. I think that Fourth Master is right. It's better to proceed step by step. Why don't we mint a batch of silver dollars first and let the wealthy families taste the benefits?"

Hongli knew that Yongzheng was deliberately demolishing the house first and then opening the windows, so that his servant Changling would be willing to actively mint new coins for his master. So he joined in the persuasion.
"Father, Changling is not wrong. The rule of rites is not yet fully established. There are still many people in the world who talk about morality but few who seek practical knowledge to promote education. Therefore, we cannot be too hasty in reducing interest rates."

“Your subject knows that you are eager to benefit the people, but you must not be too hasty.”

At the same time, Hongli also cooperated with Yongzheng, portraying him as someone who was eager to benefit the people, so that those around him would know that even if Yongzheng was confused and impatient for quick results, it was because he had a heart that loved the people that made him confused.

"That's fine!"

Yongzheng glanced at Hongli with satisfaction, then sighed and said to Changling, "Get up. Since Hongli also says so, I will accept your advice and mint some silver coins first."

"Your Majesty is wise! This servant is fortunate, and the world is fortunate!"

Changling was overjoyed and kowtowed in response, while also glancing gratefully at Hongli.

Yongzheng smiled, clearly not displeased that the attempt to lower interest rates again had failed.

Yinxi smiled and looked at Hongli with admiration. Then, he found an opportunity to whisper to Hongli, "How did you manage to get Fourth Brother to listen to everything you say?"

Hongli said, "That is naturally because my father is a virtuous and wise ruler, so he readily accepts good advice."

Yinxi nodded.

Next, Yongzheng led Hongli and Yinxi to the highest pavilion in the silver shop.

Because the bank had a treasury, Emperor Yongzheng specially assigned guards to protect it. There were even guards on duty in shifts for twelve hours a day, holding large muskets to keep watch.

The so-called "big bird gun" was a heavy matchlock gun with great power, capable of penetrating heavy armor.

Climbing to the top of the attic, one can take in the bustling city life.

At the beginning of Yongzheng's reforms, the recovery of deficits led to a large amount of gold and silver being brought back to the central government. The establishment of silver shops in the capital to distribute money also created a siphon effect, attracting more merchants and ordinary people to the capital to do business, making the capital even more prosperous.

“Twenty-one, you must look carefully and then draw this down, just like Zhang Zeduan painted Bianjing.”

"I want future generations to know through this painting that my Yongzheng reign was also prosperous and abundant, and that this fact cannot be erased!"

At this moment, Yongzheng spoke to Yinxi with great emotion.

If Emperor Yongzheng took Hongli out of the palace to make use of his clever mind and to let him understand the effectiveness of the new policies, then he took Yinxi out of the palace to use Yinxi's painting skills as a testament to him.

That's right. Because Consort Qian was skilled in painting, Yinxi was also skilled in painting, and Yongzheng clearly intended for his younger brother to do this for him.

Although Emperor Yongzheng had no shortage of painters around him, he probably thought that only his younger brother Yinxi, who firmly supported him, would do his best to paint his achievements.

"Your subject will remember."

Yinxi nodded.

Hongli smiled slightly. He noticed that Yinxi had been observing his surroundings after leaving the palace, which made him even more certain that Yinxi was a meticulous person despite his rough exterior. He probably already guessed what Yongzheng wanted him to do.

Hongli then added, "Father, in my humble opinion, painting is not enough; we need to start a newspaper so that more people can understand your efforts to govern the country."

"File a report?"

Yongzheng turned to look at Hongli.

(End of this chapter)