Merchants are pursuing profits, so they naturally know the currency as circulating vouchers and know the exchange rates between them.?                                                                                                               

At the beginning of Mongolia, there was no currency, and only exchanged goods with sheep, horses and other livestock products. After conquering the Central Plains and the Western Regions, a large amount of gold and silver was obtained, so it mainly used silver as the value scale and medium of exchange. The Central Plains were levied, and the tax was also mainly silver. However, paper money had been used in the Central Plains for a long time and became the main currency. Although it was always ill, it was still convenient for trade circulation and indispensable. So it followed the gold banknote law to establish the silver banknote power law and carried paper money, but it was still local currency at this time and could only be circulated in one place.

The large-scale use of paper banknotes was after Kublai Khan inherited the Khan throne. He further improved the method of the Jin Dynasty. He ordered that copper coins be minted and the use of previous copper coins were prohibited. Banknotes were the only common legal currency, and the court unified the line based on silver. Because the year name was Zhongtong at this time, the paper banknotes were called Zhongtong Banknotes, and the banknotes were roughly:

The banknotes are not limited to the years and months, and all roads are passed by. The decayed banknotes that are not worthy of business can be exchanged for new banknotes. Each chunk of work ink is charged thirty cents. The material banknotes are used to go to each banknote, and the corresponding number of banknotes is used as a trade-off. People hold silver or banknotes, even if they hold silver or banknotes, they will not be deducted except for the collection of ink fees. Each banknote is replaced by silver and registered, and the deposit is used as a banknote; all subjects are subject to taxation and are accepted in parallel; all items such as gold, silver, silk, grain, and husks are used in the street market, and the banknotes are used according to the statutory silver, and the banknotes are used according to the statutory silver. Each banknote falls down and is immediately covered with banknotes and printed, and the points are recorded and sealed. The burning banknotes are distributed to the Secretariat or the provinces once a quarter, and the burning banknotes are supervised and burned by provincial officials and supervisors.

Since then, the regional scope of the circulation of Zhongtong's banknotes has expanded with the advancement of the Mongolian army's war. After seizing some areas of Sichuan, paper money began to be used. In the fifth year of the Yuan Dynasty, when the Mongolian and Yuan army launched a full-scale offensive in the Jianghuai region, copper coins were widely circulated in the jurisdiction of the former Song army. In order to reduce the resistance to destroying Song, the commander of the Yuan army, Boyan, allowed the continued circulation of Song's old coins when recruiting Song generals. In addition, the Yuan court also adopted a policy of determining the price comparison of Zhongtong's banknotes to exchange for copper coins and using banknotes to collect copper coins...

"Hmph, now the Tartars think the overall situation is settled, so they want to apply money in our Song Dynasty. He is not afraid of choking!" Zhao Bing said with his legs crossed and trembling a few times.

"Your Highness is right. When I heard that before, the Tartars printed money for each load, they only printed 100,000 ingots, but after starting to use large-scale troops against our country, they increased by 240,000 ingots. In the first year of Jingyan, it increased to 1.4 million ingots. This inevitably led to the emptiness of the national treasury!" Zhuang Shilin said.

"Ingot, how much silver does this ingot have been combined for a long time?" Zhao Bing had never heard of this unit of measurement and asked embarrassedly.

"It's all because of my subordinates' failure to explain it clearly." Zhuang Shilin always thought that His Highness was omnipotent and knew everything, but ignored that he was still a prince who did not leave the house and quickly apologized for guilt, "Your Highness, the Tartars' banknotes are still based on our dynasty and the old system of the gold and gold. Therefore, both officials and private officials are accustomed to referring to the banknotes as one liang, one liang of a hundred liang of a qian, one qian of a qian, and one liang of a qian of a qian, and one liang of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a qian of a

"So that's it. He was generous to exchange counterfeit banknotes for fifty banknotes for the CPC." Zhao Bing thought that the addition of seals was due to his attack on Song Bingxing, increased military spending, and the need to implement the banknote law in the newly occupied Song Dynasty. He nodded and said, "Can the counterfeit banknotes be stable now?"

"Your Highness, counterfeit banknotes have been in Jiangbei for more than 20 years. During this period, prices and currency values ​​are stable. The people regard banknotes as gold, which is far better than those of our dynasty's Huizi." Hao Yuntong said with envy, "In Jiangbei and Sichuan, you can always buy a piece of silk, fifty or sixty cents of money to buy one tael of silk, six or seven hundred cents of rice stone banknotes, five or six hundred cents of wheat stone banknotes, and only four or five hundred cents of money to buy one tael of money at one end of cloth."

"Well, its value has exceeded that of my copper coins. It seems that there will be little resistance to implementation." Not to mention that Hao Yuntong is envious, he is a little jealous. He can eat and drink with a soldier for only one tael of silver, but it takes two to three times as much as possible. This will make it much easier to replace Huizi.

"Your Highness, this is not the case. It is very difficult to implement it like this!" Hao Yuntong waved his hand.

"Why is that?" Zhao Bing asked in confusion.

"Your Highness does not know that before the rise and destruction of Jin, the logistics industry had taken shape and was roughly divided into three parts. It was the northern market centered on the Huanghuai River Basin, the Jiangnan market centered on the lower reaches of the Yangtze River, and the Sichuan and Shu market centered on the Chengdu Plain. Although there are many connections between them, copper coins and silver are circulated, the price comparison between silver coins is different. Silver in Jiangbei can be exchanged for 2,000 yuan per liang, while in Jiangnan can be exchanged for 3,300 yuan." Hao Yuntong explained with a smile, but he didn't know if His Highness can understand it.

"Oh, what you mean is that conventions have been formed. For example, when the Tartars used counterfeit banknotes to replace copper coins as the valence of the counterfeit banknotes, it obviously seriously derogated the value of the copper coins, and this price comparison not only violated the nominal value of the counterfeit banknotes of 1 jin and 1 jin of copper coins. However, according to the equivalent relationship between the two jin of counterfeit banknotes and one jin of silver and one liang of Jiangnan silver and three jin of copper coins, the valence of counterfeit banknotes can only be exchanged for 1 jin of copper coins, at best, 1 jin of copper coins, then those who hold old money will certainly not be willing to exchange them according to the comparison of the Tartars. Even if the Tartars vigorously promote it, it may only have a temporary effect, and it will be difficult to last!" Zhao Bing explained his understanding with Zhuang Shilin.

"Your Highness is really different from ordinary people. You can understand it by just listening to a few words from my subordinates. I admire you very much!" Zhuang Shilin said in admiration. Not to mention children, even adults have not been able to fully understand these things, even adults have not been struggling in the mall for a few years.

"I'm sorry, I'm sorry!" Zhao Bing disagreed. This is similar to the exchange rate problem in his previous life, but it's much simpler. He said modestly, "If the Tartar banknote law is difficult to implement in Jiangnan, it will make copper coins and silver continue to be kept in the public and even circulated in the market. When the price comparison between silver and money and counterfeit banknotes diverge, the Tartars' strict ban on the circulation of silver and copper coins will further increase the price comparison between silver and counterfeit banknotes, and aggravate the depreciation of counterfeit banknotes, right?"

"That is, if the Tartars promote counterfeit money, it will be difficult to execute it in less than a few years!" Zhuang Shilin nodded. He had not thought so far, but His Highness had figured it out.
Chapter completed!