After broadcasting the ancient times live, I handed the system over to the state.

National strength influences the value of paper money; this is a fact.

Even though the paper money had depreciated by the mid-Ming Dynasty, it still had value. The passive policies led the people to abandon the paper money and choose silver instead.

Similarly, what truly made the government abandon the paper money was the decline in national strength, which can also be seen through data comparison.

Actually, the data is still similar to that of the previous Quan Han Fang, but now that Huang Yu is in charge, analyzing it from a different perspective gives a different feeling.

"In the early Ming Dynasty, the Ming Dynasty's fiscal system was based on goods and labor. People were registered into various types of households and provided contributions or services to the country according to their type. However, gradually, problems such as land annexation, uneven distribution of taxes and labor, and peasant flight became commonplace," Huang Yu said.

"The state's control over population and land is declining, and market forces have recovered over the years, so taxation must be reformed."

"So we saw the previous tax-to-silver conversion, which was actually a great opportunity to consolidate the status of paper money." Huang Yu couldn't help but regret. "I'm just making a hypothetical scenario here: for example, when tax-to-silver conversion was implemented, could paper money be exchanged for silver first? Could people be required to use paper money to pay taxes? This would increase the frequency of paper money usage and strengthen its status as legal tender?"

"As we mentioned before, when silver was monetized, the government didn't have any mechanism to regulate it. So now, if we control the exchange rate between the paper money and silver, wouldn't that gradually turn the decentralized nature of the paper money into something else? Wouldn't that maintain the stability of the paper money's value?"

(Song Dynasty scholar Zhang Pingfang: In this way, the paper money would indirectly possess reserves? Become silver? But the Ming court had no silver reserves.)

(Song Dynasty, Bao Zheng: In the end, it was silver that drove out the paper money.)

(Han Dynasty, Sang Hongyang: In matters of finance, one must not only be meticulous, but also sufficiently astute!)

Huang Yu only mentioned it casually, but it immediately sparked the imaginations of officials at that time.

However, he repeatedly emphasized, "This is only theoretical. To know how things should be done, we must respect market rules and practice can lead to true knowledge. But practice does not mean blind practice; it must be implemented in a planned and coordinated manner."

There are many makeshift groups in the world, and sometimes politics is as childish as playing house, resulting in nothing being gained.

In fact, Huang Yu felt that the Ming Dynasty government was quite incompetent in managing finances, but he couldn't say it openly now, so he could only convey his emotions through tone and actions.

This clearly made the people below take it very seriously.

He slammed his fist on the blackboard, drawing everyone's attention to him.

"The reform of converting taxes into silver actually lasted for a century and a half, almost spanning the entire timeline of the Ming Dynasty. It was precisely because of the conversion of taxes into silver that silver was able to penetrate into the national treasury quite smoothly, and even established the status of silver."

"However, maintaining the status of the paper money is relatively weak in some areas, and it is difficult to control after the decline of national power."

"It is also because of this that the monetization of silver began to invade the country's finances. You can guess what it is."

Huang Yu didn't say it directly, but instead let his subordinates guess. Officials from both the Tang and Ming dynasties began to look at each other and discuss it in hushed tones, with some even whispering it out loud.

Zhu Qinggu noticed that many comments on the screen were also speculating. After watching the exchange of paper money, silver, taxes, and silver all morning, he realized that these were not only matters for the upper class, but also closely related to the common people.

When it comes to money, who doesn't it concern? As long as we need to survive, we will interact with the outside world, we will need resources, and we will need money.

There are also many ordinary people here who are not historical refugees discussing this topic.

People under the sky were also discussing it. Some gathered together and spoke loudly, while others spoke quietly to avoid being seen. People were discussing it in inns, restaurants, streets, and fields.

Zhu Biao was also discussing with Zhu Yuanzhang, Yongle Emperor Zhu Di, Zhu Gaochi, and Zhu Zhanji.

Zhu Zhanji had already given the answer. Although he was in a high position, the political atmosphere in the court was changing at that time, and there was a lot of turmoil. How could he not know that?

Huang Yu gave them five minutes. During those five minutes, he went downstairs to get a drink of water, and Mao Hexuan and the others gave him a thumbs up.

Quan Hanfang whispered, "Brother Huang, you explained it very well!"

"That's also because Elder Mao handled it well." Huang Yu didn't take all the credit.

The original plan was for the different people to give their presentations at varying levels of depth, and we were going to proceed step by step so that these ancient people could better understand the background and see things from different perspectives.

Quan Hanfang simply gave a brief overview of the entire process, while Huang Yu's task was to further promote this understanding and encourage people to think more deeply. Later, when the argument shifted from paper money to the monetization of silver, people were encouraged to approach the topic from different angles.

In their view, it didn't use many economic concepts; it was more of a summary and inspirational piece, and the content was rather superficial.

But Quan Hanfang was still impressed by him and praised him highly.

Five minutes later, Huang Yu immediately put on a very serious face, so serious that it was intimidating, and walked onto the podium.

"I believe everyone already has the answer. I just heard some of you talking about it." Huang Yu addressed them all as classmates. Although these classmates were a bit old, they had invited him to stand on this stage, so everyone below was treated the same.

"Beijing Transport!"

"Beijing Transport Silver!"

"And there's also a silver coin!"

"It might be the clerk who takes the silver."

Zhu Zhanji lowered his gaze slightly and said with certainty, "It is silver transported from the capital and silver exchanged by the clerks."

Huang Yu nodded. The blackboard on this side was already full. He turned and walked to the other blackboard, then wrote two lines of text on it with chalk.

1. Beijing Transportation Bank

2. The clerk exchanged the silver.

Then he walked back to the center of the podium, looked at Zhu Zhanji below, and called on him to answer a question.

Zhu Zhanji coughed a few times. Even though he had been treated by Sun Simiao and Li Shizhen and was much better than before, his body was still deficient, which made him a little breathless when he stood up.

However, it's much better than before when I could barely get up.

“The capital transport silver is related to the garrisons. In the early years, the garrisons were for military farming. In addition to military farming, the main military pay also came from the capital transport silver, civilian transport silver, and capital transport silver.” Zhu Zhanji’s gaze narrowed slightly.

"The capital transport is a way to fill the gaps and make up for the deficiencies in the previous systems. The missing items are filled by the court and sent out from the capital." Zhu Zhanji sighed slightly as he said this. There were many things he wanted to do, but he didn't know how to start. "During the Xuande period, not only did the tuntian (military agricultural settlements) encounter difficulties, but the kaizhongfa (a system of land reclamation) also encountered various difficulties."