In order to make up for the shortage of military tuns, Zhu Yuanzhang set up a temporary policy - salt introduction and the system of opening salt and grain to salt introduction. But these are temporary measures, and for military spending, Zhu Yuanzhang's main response is to issue paper money. However, the issuance of paper money in the Ming Dynasty, because there is no precious metal as a basis, will inevitably cause the depreciation of paper money too quickly and inflation to be serious, and it is called "the first evil government of the Ming Dynasty" by posterity.
Zhu Yuanzhang also had no way to issue paper money for military expenses, after all, he avoided the doom of looting and military turmoil that caused the ming to be established and destroyed
Opening salt is not only for grain, but also for nama. It is not only open salt, but also can be open tea for grain, open tea for nama, etc.
Salt tea was an important commodity at that time, and salt was also a must-have commodity for everyone. Tea was already widely cited among Han Chinese at the time, and more importantly, tea was a necessity for ethnic minorities such as Mongolians and Tibetans. As a result, Zhu Yuanzhang not only partially solved the military supply problem, but also controlled some ethnic minority tribes with tea, on the grounds of opening up border trade, so that it did not pose a threat to the Ming Dynasty.
But all of these are difficult to produce in the short term. You have to talk and take your time to do business with ethnic minorities, how much grain and horses can you get in the beginning? After decades of turmoil on both sides, both sides are in a state of hostility and are impossible.
To this end, Zhu Yuanzhang turned his attention to the paper money empire created by the Yuan Dynasty. But Zhu Yuanzhang did not expect that his practice of having to do it would make it called "the first evil government of the Ming Dynasty" in the future!
Many people in later generations criticized Zhu Yuanzhang for maliciously plundering people's wealth. However, the issuance of paper money is a practice inherited from the Yuan Dynasty and even the Song Jin Liao period, and it is normal to inherit the paper money of the Yuan Dynasty.
After the Great Peasant Revolt at the end of the Yuan Dynasty, both silver and copper coins were in high demand. Because of the sharp decline in population and the decline of commerce, the state's financial revenue is not enough. However, despite this, one thing that must be satisfied is the reward for soldiers.
Soldiers live with their heads held high, and in addition to having a full stomach, they seek glory and wealth. You are the emperor, and if you say anything, it is not wrong, but if you let the soldiers have no food to eat, others will still create the emperor's rebellion. Especially the officers, without glory and wealth, who would follow you Zhu Yuanzhang to rebel? Therefore, the rest can be saved, but the rewards for soldiers cannot be saved.
But unfortunately, what Zhu Yuanzhang lacks in his hands is money.
Zhu Yuanzhang was worried about military spending
Before the eighth year of Hongwu (1375), the production capacity of copper coins in the Ming Dynasty was about 200,000 taels of silver. At that time, the number of troops in the country reached one million, and the average silver on each person's head was less than 0.2 taels a year, according to the price of rice, 1 tael of silver and 1 stone of rice, and each soldier was less than 0.2 stone meters a year. At the same time, the amount of silver is not enough, coupled with the long-term turmoil, the rich people have only hidden their money - silver in the cellar.
Explain the previous paragraph:
First: the price of money and grain prices: 1 banknote: 1000 yuan: 1 two silver: 1 stone meter, which is the price of paper money, copper coins, silver two, and rice before Hongwu eighteen years ago, which fluctuates up and down every year, and the fluctuation is not large.
Second: exchanged for grain: 1 stone equals how many pounds of data are different, from 120 to 190 pounds, so we average 155 pounds. 0.2 stones is 31 pounds, an average of less than 3 pounds of rice per person per month.
Third: the silver stock problem: this problem we will continue to talk about it below, the number of words is too much, how the conclusion came to see tomorrow's article. The conclusion is that during Zhu Yuanzhang's time, the maximum silver stock it could use was 90 million (about three times the fiscal revenue). Plus copper and silver according to the soldiers of a person is basically enough to eat. But don't forget about the military household problem. As well as the cost of various military industries and war preparations, military expenditure is still insufficient.
Therefore, Zhu Yuanzhang had to inherit the policy of issuing a large number of paper money in the Song Jinxia, Yuan Dynasty, especially the Yuan Dynasty.
The Yuan Dynasty was the first dynasty in Chinese history to use paper money to sustain the development of a great empire
In the Yuan Dynasty, China's territory was the largest in all dynasties, and its influence on the three continents of Europe, Asia and Africa is still there.
Genghis Khan's descendants established the Four Great Khanates, and some sort of commercial connection must be made between them. Kublai Khan's support for maritime trade is there for all to see. Therefore, the Yuan Dynasty was also a dynasty of China's maritime empire. The paper money of the Yuan Dynasty was popular all over the world, and the Ming Dynasty continued to implement it, so there is no need to be particularly surprised.
The issuance of paper money in Zhu Yuanzhang's period did not take into account the situation of gold and silver reserves, and to some extent was equivalent to waste paper without any value. However, in the circumstances at the time, paper money was the only option.
Of course, the soldiers do not understand that paper money without gold and silver reserves as a backing is very dangerous, they only know that they have money in their hands, and when the time comes, they can exchange it for chai rice oil salt sauce vinegar tea.
However, Zhu Yuanzhang was criticized eight years after Hongwu, when the Ming government had no risk of internal trouble, and although wartime military expenses could not be the reason for Zhu Yuanzhang's large-scale issuance of paper money. However, Zhu Yuanzhang's issuance of paper money was also a reward for soldiers and officials.
In the 23rd year of Hongwu, Zhu Yuanzhang actually issued about 15.2581 million ingots of paper money, of which 8.95 million ingots were used to reward Fu Youde, Lan Yu, Tang Shengzong, Guo Ying, and other people who wiped out the remnants of the Northeastern Mongolian Yuan Naha and repelled the remnants of the Northern Mongolian Yuan.
In addition to military spending, disaster relief is the second most useful. For example, 40% (6.1 million ingots) of the huge banknotes issued by Hongwu in 23 years were used for disaster relief. Over time, the circulation of banknotes has become more and more extensive.
During Zhu Yuanzhang's reign, an average of about 5.5 million ingots of paper money were issued every year. In addition to the military expenditure accounting for about 40%, another major expenditure is the salt banknotes from Hongwu seventeen, a total of 65.8 million ingots, accounting for about 45%. The others are the clan spending 1.7 million ingots and giving 19.2 million ingots to Kwangroku-ji Temple.
In addition to these four items, which are about 147.73 million ingots, there are other piecemeal expenses, such as irregular rewards for vassal states and meritorious heroes.
Ingots are quantifiers, similar to a piece of gold, a gold bar. According to the relevant information, the above information in the 1 piece of paper money should be discounted by 5 yuan, so according to the official comparison of 1 piece of silver equal to 1 silver, it is about 738.65 million two silver.
The biggest problem with Ming dynasty paper money
Since there is no gold and silver reserves as a basis, the issuance is too large, and the depreciation of paper money is very fast. In the eighth year of Hongwu, the "Hongwu system" constructed by Zhu Yuanzhang stipulated that the banknotes were divided into one thousand yuan, five hundred yuan, four hundred yuan, three hundred yuan, two hundred yuan, and one hundred six texts, and each banknote was always allowed to be combined with a thousand yuan and one or two silver. At this time, the exchange price of banknotes, silver and rice is in the equilibrium state of 1 banknote: 1000 yuan: 1 two silver: 1 stone meter. However, in the eighteenth year of Hongwu, the price became 1 stone meter: ?5 banknotes: ?0.5 two silver. Paper money depreciated 900% against silver.
In the Chenghua year, it depreciated by 250,000% to 260,000%. However, state taxes still levied paper money and arbitrarily changed the ratio of paper money to silver. For example, the ratio of Jiajing's six-year banknote silver is 250:1, compared with 850:1 on the market. However, in the seventh year of Jiajing, the official suddenly raised it to 80:1, and the private sector still exchanged it at the market price.
Of the 140 million banknotes, less than 50 million of them have been withdrawn in 24 years, and the remaining 80 or 90 million banknotes are equivalent to more than 400 million silver without return, which will inevitably cause inflation. The more emperors went on, the more so the more they did, and eventually the paper money in bundles was thrown there, leaving the wind and rain to be ignored.