Chapter 200: The Ming Version of the ‘Silver Law’! Allied Nations?! Ying Zheng’s Speculation!
Half an hour later, inside Fengtian Hall, Zhu Yuanzhang stroked his beard, his gaze settling on the Zhou envoy before him with mild surprise.
“Your Empress wishes for our Ming Dynasty to recognize the legality of Ming banknotes and adopt them as the sole currency for all future transactions?”
The Zhou envoy smiled. “His Majesty intends to unify the currencies of various nations, and the Ming Dynasty is among them.”
By now, the Zhou Dynasty was beginning to show the traits of a top-tier power. There was no need for its envoys to act submissively before Zhu Yuanzhang. Their nation’s growing strength was what gave the envoy such confidence in his words.
Zhu Yuanzhang’s brows furrowed slightly before he suddenly let out a chuckle.
“I see. Very well, the Ming Dynasty will fully support this matter. You may return and inform your Empress.”
The envoy bowed respectfully and withdrew. Once he was gone, only Zhu Yuanzhang, Li Shanchang, Li Wenzhong, and Zhu Biao remained in the hall.
Zhu Biao paced a few steps before turning toward his father, his eyes widening.
“Father, Yang Yi is playing a brilliant game. The Zhou banknotes have gradually stabilized, but replacing gold and silver entirely would take at least a decade.
“Yet, he plans to leverage the influence of our Ming Dynasty, along with the Tang and other nations, to drastically shorten that timeframe. What a cunning strategy.”
Li Shanchang and Li Wenzhong nodded in silent agreement. As key figures in the Ming administration, they were no strangers to the complexities of currency issuance.
When Zhu Yuanzhang had driven out the Northern Yuan and established the Ming Dynasty, he had also reformed the currency. However, traditional coinage, such as copper and silver, had always been easier for the common people to accept.
The introduction of Ming banknotes had been a different story. Due to certain miscalculations and reckless economic policies, their value had eventually collapsed.
Now, Yang Yi had adopted a drastic approach—not only curbing speculative merchants but also restoring public confidence in Zhou banknotes. His methods were truly extraordinary.
For an ordinary person, accomplishing such a feat at twenty-five would already be impressive. Yet, Yang Yi had gone a step further, even using the Ming Dynasty to his advantage. It was no wonder he was regarded as the Zhou Dynasty’s top strategist.
Zhu Yuanzhang took a deep breath, the shock in his tiger-like eyes unmistakable. Yang Yi was far more dangerous than he had anticipated.
After a moment’s hesitation, he spoke. “The Zhou Dynasty has annexed the territories of the Turks, the Qing Dynasty, and half of the Song Dynasty. Their banknotes are undeniably a crucial step in unifying their economic power…”
His expression darkened. “If Yang Yi succeeds, gold and silver will cease to be used as currency. Instead, they will become luxury commodities in the Zhou Dynasty, while the people will conduct all transactions with Zhou banknotes.”
He glanced at the men before him. “Gold and silver are finite, but paper money is unlimited. If the Zhou Dynasty establishes a monetary system centered around their banknotes, we will find ourselves at a severe disadvantage.
“We will trade real gold and silver, while they only exchange paper. In the long run, our Ming Dynasty will inevitably fall under their control.”
A vague unease settled in Zhu Yuanzhang’s heart. He could sense that Yang Yi’s push for Zhou banknotes was far from harmless, though he couldn’t quite grasp the full implications. Math had never been his strong suit.
Zhu Biao let out a wry chuckle. “Father, but what choice do we have? Are we to outright reject the Zhou banknotes?”
Zhu Yuanzhang stroked his beard, a sharp gleam flickering in his eyes.
“Resisting them isn’t impossible. Though most nations may not openly oppose the Zhou Dynasty…” He smirked. “Flies don’t swarm to a seamless egg. If we expose a flaw, the other nations won’t hesitate to exploit it. This might be our chance to unite them and deliver a severe blow to the Zhou economy.”
A heavy silence fell over the hall. None of them had expected Zhu Yuanzhang to harbor such intentions. Was he planning to sabotage the Zhou banknotes?
Zhu Biao swallowed. “Father, but didn’t you just agree to support the Zhou envoy?”
Zhu Yuanzhang waved a dismissive hand. His weathered gaze turned piercing.
“I am the Emperor of the Ming Dynasty. My duty is to prioritize the interests of Ming. If we assist the Zhou Dynasty now, we will help them complete their economic transformation. Follow current ɴᴏᴠᴇʟs on 𝓷𝓸𝓿𝓮𝓵·𝓯𝓲𝓻𝓮·𝓷𝓮𝓽
“With their expanded territory, well-implemented policies, and growing military strength, the only thing left to restrain them is their economy. If we fail to act, it is only a matter of time before we become their prey.”
He leaned forward, his voice low and firm. “This is the Zhou Dynasty’s pivotal moment. If we strike at the right time, how could the Tang, Han, or Qin Dynasties resist the temptation to carve up such a fat piece of meat?
“Biao’er, remember—there are no eternal friends between nations, only eternal interests. One moment, we may share wine and meat at the same table; the next, if our interests no longer align, betrayal is only natural.”
Zhu Biao shivered involuntarily. He had not expected his father to seize this opportunity to cripple the Zhou economy.
Taking a deep breath, he steadied himself. “Father, what exactly do you plan to do?”
A dangerous glint flashed in Zhu Yuanzhang’s narrowed eyes. “It’s simple. Yang Yi wants to stabilize the Zhou banknotes? Then we will make their value plummet.”
His lips curled into a knowing smirk. “Isn’t he planning to stop using silver? Then we will drive up its price. The Ming Dynasty will announce a high-value silver buyout, causing the demand to soar.”
He turned to Li Wenzhong. “Wenzhong, how much silver did we produce last year?”
Li Wenzhong, who oversaw the empire’s finances, thought for a moment before answering. “Your Majesty, last year, the Ming Dynasty produced approximately 1.3 million jin of silver.”
Zhu Yuanzhang nodded, his gaze sharp as a blade. “Then we will declare that the Ming Dynasty will purchase 1.5 million jin of silver annually. That alone will send the price of silver skyrocketing.”