The Taifu Temple Minister took a thick notebook to report to the emperor the financial report of the empire for the first quarter. The empire's finances were very good and there was no deficit.

And there is a very good surplus, especially with the output of the three major gold, silver and copper ores of the Denglai Gold Mine of the Empire, Shijian Yinshan and Bezi Copper Mine, the materials of the Imperial Coin Cindering Bureau are now quite abundant. The coin workshops are minting metal currencies day and night.

"It is expected that the imperial gold production will reach one million taels this year, silver production will reach three million taels, and copper production will reach more than three million jin."

Dahua uses copper coins as the main currency and gold and silver coins as auxiliary currency, and also issues banknotes to circulate. Paper banknotes are currency, but they are just substitutes for metal currency. They rely on the credit that can be exchanged for gold, silver and copper coins at any time.

Dahua's currency still relies on gold, silver and copper coins. In the past, the output of gold, silver and copper in the Central Plains has been very low. Although precious metals have accumulated for thousands of years, it is still a long-term shortage of money and insufficient currency. Only after issuing paper money, some shortages of money were barely solved.

During the Sui and Tang Dynasties, the annual gold mining volume was only about 10,000 taels, and the output of silver was also extremely low. Even the copper production was not high.

Now, Dahua's exploration and mining technology are constantly improving, and gold, silver and copper ores are constantly being discovered in various places, and the mining efforts are also greatly increasing. Especially in the past two years, the discovery and mining of these three super mines have allowed Dahua to enter a new situation where there is no shortage of gold, silver and no copper available.

Gold, silver and copper are both precious metals, or even natural currency. This is no better than paper money that relies entirely on credit. Paper money itself is worthless, but gold, silver and copper are natural currency. Even if it leaves the territory of the Great Hua Empire and goes to foreign countries, it can still be used as currency.

One million taels of gold production per year, three million taels of silver production, and up to three million jin of copper production.

This is a very shocking number.

How much currency can so much gold, silver and copper be cast?

Gold and silver coins are only 88% of the content, which means that the gold and silver mined each year are minted into gold and silver coins, which can be minted into more than one million gold coins and more than three million silver coins in that year. One gold is now worth five silver or twenty guan copper coins, which is gold coins worth more than two million coins and more than one million coins.

There are more than three million jin of copper coins, and there are also large amounts of copper coins with a denomination of two or five jin. One piece contains not much copper. So much copper can be cast at least more than three million jin.

To sum up, if you use the amount of gold, silver and copper mining in a year to mint coins, you can get more than 30 million guan of copper coins. This is only one year. If there are so many every year, it will be more than 300 million guan in ten years.

Dahua is now booming in trade and commerce, but its total economic output is only a few billion at most.

It can be said that such a large amount of gold, silver and copper mining can quickly completely change the money shortage problem, and may even lead to excessive currency, which will lead to rising prices and inflation.

If you have less money, you will be worried, and now if you have more money, you will be worried.

It was also a problem for the imperial court to obtain so much gold, silver and copper.

Although these gold, silver and copper mining did not belong to the imperial court, taking the three major mines as an example, they were all private investments and recruited equity funds to build mines.

The court collected contract fees, mining taxes and corporate income taxes from them. The rest of the money belonged to the mine merchants and shareholders. Except for the part they produced, the rest were purchased by the government at the purchase price.

Therefore, the imperial court had to spend a lot of money a year to obtain these precious metals.

Of course, the court's re-minder of minting money can reach 10% of the profit. The re-make of minting money can earn 10% of the profit, which is at least more than three million jin. These precious metals become currency, and part of them are used as acquisition payments to miners, and the remaining ones enter the treasury.

The treasury currency is transferred to the bank and entered circulation, and can lend and collect interest.

The money will get more and more.

The Taifu Temple Minister was very happy to think that he would not be short of money in the future.

But Emperor Zhang Chao began to consider another issue. Historically, the Spaniards discovered many silver ores in the Americas, and countless gold and silver were transported back every year.

But Spain, which had dug up countless gold and silver, did not become strong for too long. Instead, it quickly weakened, which led to the rise of Britain, France and other countries.

The reason is that a large amount of gold and silver flowed into Spain, causing royal nobles and those big merchants to start to squander and be extravagant. These gold and silver did not benefit ordinary people. Instead, because of the influx of gold and silver, the prices were too high and the lives of the people were even more difficult.

After the Spanish became rich, they did not develop their own industry, but instead went to Britain and France to buy and buy. Britain and France took the Spanish orders and money and slowly developed their own basic industry. In the end, this powerful industrial manufacturing capability made their way to rise.

So, sometimes it’s not a good thing to have too much money.

Too much money chases too little goods, which will inevitably lead to inflation.

Of course, it’s not OK to have no money.

"His Majesty?"

The Minister of Taifu Temple saw the emperor wandering around the sky, but after waiting for a while, he could not come back to his senses, so he had to call in a low voice.

"Yes." Zhang Chao finally came to his senses.

"My dear, I think that since the court has already had banknotes, its dependence on currency demand has decreased a lot. In the past two years, the court has recycled old coins and re-minded new coins. So far, it has also issued a lot of coins?"

As the steward who specializes in finance, Taifu Temple Minister is certainly aware of these things.

He remembered those numbers in his heart and almost blurted out.

"Your Majesty, since the founding of Dahua, the circulation of old coins has been banned, and all of them have been recycled and minted into new coins. Copper coins are issued two and five cents, while gold and silver coins are issued one yuan coin. Paper tickets that can be exchanged for gold and silver coins at any time are issued are also issued in the market. Thanks to our Dahua's gold and silver reserves and coin minting technology. Over the past three years, a total of minted and issued two and minted copper coins and minted 20 billion coins, 5 million coins per yuan, and 50 million coins per yuan."

The Taifu Temple Minister is talking about integers, but the number is still very amazing.

You should know that during the Tang Dynasty, there were 100 coin minting furnaces in various places across the country, and each furnace was only about 3,000 guan a year, and the total amount of copper coins cast in the country was only about 300,000 guan a year.

Three hundred thousand sprigs of copper coins, only 300 million copper coins.

In less than three years since the founding of Dahua, a large amount of materials were obtained by recycling old coins, and using advanced coin minting technology that had matured in Zhenguan, more than 10 billion copper coins were minted every year. This was dozens of times the amount of coins minted in the early Tang Dynasty.

The amount of coins minted is higher because Dahua's copper coins do not have a single penny copper coins, but two penny and five penny copper coins, which makes these more than 50 billion copper coins actually have higher value.

One thousand six hundred billion yuan of copper coins, that is, the value is 160 million yuan, three years is equivalent to the amount of currency that has been minted for five hundred years in the early Tang Dynasty.

Not to mention that more than five million gold coins and fifty million silver coins were minted.

Five million gold coins are worth another 100 million guan, and fifty million silver coins are worth another 200 million.

The amount of gold, silver and copper coins minted in three years reached 460 million jin.

And paper money was also issued 200 million yuan.

This is actually not the total amount of all the currency in Dahua, because although Dahua ordered the recycling of old money, this recycling also gave a time limit. It did not immediately prohibit the circulation of old coins, but a large amount of currency is still in use.

Even in some remote places, gold and silver are weighed directly for bargaining transactions, and in some places, they are still using Wuzhu coins from the Han Dynasty.

With so many gold, silver and copper currencies and a large amount of gold and silver reserves, Dahua can actually use this as a reserve to issue more paper money.

After all, the trend is that people are becoming more and more accustomed to using paper money. When banknotes are traded, the smallest denomination of copper coins is two cents, while banknotes not only have one cent, but also have half a cent of denomination, which greatly facilitates daily pocket money.

Paper not only has a small denomination, but also has a denomination of hundreds of cents.

As for larger transactions, you can transfer money directly to the bank, or use bank checks, even gold and silver coins.

If one year's gold and silver production is used as a preparation to issue gold, 30 million guan of gold and silver can directly issue 150 million banknotes. In terms of current gold and silver reserves, even if the imperial court issues one billion and two billion banknotes, it is OK.

"In the future, there is no need to use all the gold and silver to mint coins. I think it's enough to mint about one million gold coins and five million silver coins every year, and then mint two and five-month copper coins each with five-month copper coins."

This amount is equivalent to the value of gold and silver coins of 40 million jin and copper coins of 35 million jin and the total value of 75 million jin.

"Another 35 million banknotes are issued every year."

In this way, the total amount of currency issuance every year is 100 million yuan.

"Your Majesty, where is the remaining gold and silver?"

"A part of it is used as the issuance reserve for paper money, and it is directly cast into gold bricks according to the reserve of one to five. The remaining part can be sold to the public for sale, as gold, silver jewelry, etc. The rest, I will use it for other purposes."

Dahua's current gold and silver production is indeed very large, from lack of gold and silver, it has suddenly become a major gold and silver production country. It can even be said that Dahua's gold and silver production may now account for the vast majority of global production.

In Europe, the gold-silver output ratio was between one to ten, so the gold-silver ratio in Rome was between one to ten and one to thirteen. In the Franks, because the silver output was higher and he could get a lot of silver from the barbarians, the gold-silver ratio was higher.

However, Dahua's current gold-silver ratio is only one to five.

Dahua's silver is much more expensive than Europe's silver, two or three times more expensive.

If Dahua's gold is taken to Europe and cashed out silver, it can be exchanged for more silver. However, Dahua's silver production is so high now that it does not require the import of silver. Dahua can instead export silver. Dahua's gold is now also produced at a high rate. It can still be used to buy silver in Europe to buy silver and then exchange it for various materials, such as slaves, fur, minerals, etc.

You can even lend money to European countries. When the loan is in gold, then when the settlement is made, they are asked to settle the loan in silver. One in and out, you can make a lot of money.

With money, when you go to Europe to buy, buy land and slaves, buy whatever you have, buy whatever you have, and you will never lose money as long as you buy resources. If you get these resources back, you will be deeply processed in the Central Plains, and you can sell them back and make another profit.
Chapter completed!