The Three Kingdoms: Zhaolie, the strategist, and the rise of the Han Dynasty

Chapter 343 Li Yi's Powerful Hand: Reshaping the National Economy, Issuing New Currency, and Saving the Dying Han Dynasty
Chengdu, the Palace of the King of Wei.

At the age of fifty-eight, Cao Cao's hair and beard had turned completely white.

He stood before the huge map in front of the hall, his finger tracing the Qinling Mountains, his brow furrowed.

"The roads to Shu are rugged and difficult to traverse."

"Now that our army occupies Yizhou, if the postal system is not in place, it will be difficult for our government orders to reach all directions."

"How can military intelligence be transmitted so quickly?"

To be rich, build roads first.

Especially in the western Sichuan region, if Cao Cao wanted to strengthen his own power, he had to connect the transportation routes of Shu.

Zhao Yan cupped his hands and said:
"Your Majesty is wise."

“Since entering Sichuan, the delivery of documents from various places has been slow, often taking ten days or months to arrive.”

"If the post roads are not repaired, internal strife may break out."

Sima Lang also stepped forward and offered his advice:
"I have investigated the old post stations in Sichuan and found that many of them were abandoned due to war."

"In my opinion, we should rebuild the fortifications and increase the number of fast horses."

"This will make the Chengdu-Hanzhong line unobstructed."

Hanzhong is not only the gateway to Sichuan, but also an important base for the northern expeditions of Sichuan.

Establishing a connection between Hanzhong and Chengdu is arguably the core of the Shu-Wei regime's military strategy at present.

“Very well, this matter will be entrusted to you all to oversee.”

Cao Cao nodded and then pointed to the map of Hanzhong.

"Furthermore, Liu Bei, who occupies the Central Plains, is eyeing the country covetously."

"I intend to use Hanzhong as the base for my northern expedition, so I must quickly open up Guanzhong."

Once the plan was set, Cao Cao immediately ordered his men to carry it out.

The envoy arrived bearing imperial credentials and loudly proclaimed the imperial edict:
"The King of Wei has decreed: Cao Ren is appointed as the Prefect of Hanzhong."

"Reorganize the army and strengthen its military capabilities, and carve out mountain roads to facilitate the transport of grain!"

Cao Ren knelt on one knee and said in a deep voice:

"I accept your order."

The Prefect of Hanzhong was equivalent to the highest military commander in the northern region of Cao Wei, and Cao Cao still preferred to appoint members of his own clan.

After the envoy left, the lieutenant asked in a low voice:
"General, Hanzhong is surrounded by mountains. How can we open up a new road?"

Cao Ren said in a deep voice:
"In the past, the Qin state was able to open the Golden Ox Road. Does our Wei state lack such capable people?"

"Issue the order! Conscript 30,000 laborers."

“Divide the road into four sections: Ziwu, Tangluo, Baoxie, and Jinniu!”
At a single command, the government troops in Shu immediately began to move out.

In the countryside, the cold wind stings your face.

The village headman, banging a gong, walked through the villages and hamlets, shouting at the top of his lungs:

"By order of the King of Wei! One out of every three able-bodied men shall be conscripted to repair post stations and clear roads—"

"By order of the King of Wei! One out of every three able-bodied men shall be conscripted to repair post stations and clear roads—"

Following behind the village head was a group of officers and soldiers.

They started arresting people from house to house.

Old Man Wang gripped his son's wrist tightly.

"Sir, this is my only son!"

The village head kicked over the earthenware jar, scattering millet all over the ground.

"General Cao said that anyone who disobeys orders will be executed as a traitor!"

The village head is equivalent to the village chief.

But his power far exceeded that of the village chief; he was not only responsible for managing household registrations but also for collecting taxes.

It also plays a role in maintaining public order and mediating disputes.

Essentially, it was an extension of imperial power at the grassroots level, possessing administrative coercive power.

Therefore, Cao must have specifically promoted those who were obedient.

In order to support their grassroots work.

In order to protect their own official positions, they naturally did their best to serve the Cao family.

Soon, seventeen-year-old Wang Shuan, with his wrists bound by hemp rope, was led in a long procession of over a hundred fellow villagers to Hanzhong to repair roads.

"Hurry up! What are you dawdling for!"

The supervising officer's whip lashed at Wang Shuan's bare back, and the thin rope on his shoulder dug deep into his flesh.

Three hundred laborers were dragging a giant log, slowly moving it along the cliff of the Tangluo Road.

"what--!"

A scream suddenly came from ahead.

Wang Shuan looked up and saw Uncle Li from the same village slip and fall into the abyss along with a rock.

The military supervisor peered into the mist-shrouded valley floor and scoffed:

"We need to find someone who does all the work."

On that day, Wang Shuan was assigned to be in charge of drilling the hole.

He hung precariously on the sheer cliff, repeatedly hammering a steel chisel into the rock crevices.

The blood from the cracked tiger's mouth stained the shank of the drill bit red, yet he dared not stop.

Yesterday, a young boy took a breather, only to have his ropes cut by the supervising officer with a single stroke...

Under the scorching midday sun, a villager suddenly collapsed.

Wang Shuan touched his burning forehead and secretly fed him a sip of water.

When they finished work in the evening, they found that the villager had been dragged to the edge of the cliff.

Wang Shuan was puzzled and was about to hear the news.

The supervising officer then spoke up:
"This person has brought miasma; it will infect the entire team!"

Without hesitation, the supervising officer kicked the man into the deep ravine.

Seeing this, Wang Shuan bit his lip tightly, but dared not retaliate.

After enduring countless long days and nights, Wang Shuan and his few remaining fellow villagers welcomed the rainy season in Ziwu Valley.

The laborers pounded earth in the mud and huddled together in leaky thatched huts at night.

Every morning, stiff bodies are carried out.

"The three hundred and forty-seventh."

The old stonemason was carving marks on the rock face when he suddenly started coughing violently.

When Wang Shuan massaged his back, he felt festering sores on his bony ribs.

"Don't bother," the old stonemason pushed him away, "I should be getting my number engraved tonight."

That night, it rained heavily.

Wang Shuan stared silently at the old stonemason's corpse in the corner of the thatched shed.

The body had turned white from being soaked in rainwater, and water had accumulated in its eye sockets, as if it were shedding tears.

How many more people will die?

Wang Shuan suddenly kicked over the ceramic bowl, and shards splashed onto everyone's faces.

"Tomorrow it's you, the day after tomorrow it's him!"

He grabbed the rock-cutting chisel, thinking, "I'm going to die anyway, might as well fight!"

The lame old man Zhang tugged at his trouser leg:

"Shuanzi! Cao Cao's army has swords and horses..."

"Knife?"

Wang Shuan snatched the chisel from him, shouting, "Don't we have knives too?!"

He slammed his fist against the wooden pillar, sparks flying everywhere.

"The prince and general Xiangning is kind!"

"Rather than work yourself to death, we should start an uprising!"

Encouraged by Wang Shuan, his partner finally decided to join him.

At first, only eight people from the same shed followed him.

They bound the sleeping overseer in the dark and strangled him with the hemp rope used for transporting stones.

As dawn broke, Wang Shuan walked along the plank road, holding aloft the blood-stained iron rod.

More and more people followed behind—those pounding rice, those chiseling mountains, and those hauling timber.

The fear in their eyes gradually turned into anger.

The most distinctive characteristic of the Chinese people is that they will not rebel unless they are truly desperate to survive.

When they choose to rise up in rebellion, it means they have truly reached a dead end.

"Reverse! Reverse!"

The military supervisor charged forward on horseback, but before he could even raise his whip, he was struck down from his horse by a flying stone hammer.

As he got up, his arrogance turned to terror:
"You...you dare to defy the King of Wei...that's a capital offense!"

Wang Shuan strode forward, stabbing the man's thigh with a dart, and roared:

"Beheading? My whole family starved to death long ago!"

"Why should I care about losing a life?"

The crowd dragged the military supervisor to a gap in the unfinished plank road.

Wang Shuan stepped on his neck and asked sharply:
"Remember Uncle Li? He was kicked down from right here."

"Have mercy, sir! I have some at home too..."

"There's also an eighty-year-old mother?"

Wang Shuan suddenly flew into a rage and swung his hammer, driving long nails into his palm.

"You have no idea how many wives and children you have caused to be torn apart, and how many families have been destroyed and people have died."

"Even now, do we still have the desire to live?"

Amidst screams, the military supervisor, his limbs pierced with nails, was strung on a wooden frame on the plank road.

Wang Shuan wiped the blood from his face.

"Those who want to live, step over this beast!"

When Old Man Zhang saw the supervisor's miserable appearance, he trembled and dared not move.

Wang Shuan stepped forward, grabbed his collar, and shouted:

"If you don't come over, I'll throw you down the mountain!"

He didn't realize that his voice was just as harsh as the military supervisor's.

That night, the mountain was shrouded in fog, and they seized the opportunity to loot the granary.

Wang Shuan stood on the high point of the plank road, looking down at the dark mass of people below, about two hundred or so ragged laborers.

They clutched iron bars, hammers, and sharpened wooden sticks in their hands, their eyes burning with murky rage.

"Brother Shuan, why don't we go and join the Han army?"

Zhang the Cripple leaned on his wooden crutch, his voice trembling.

"I've heard that Liu Bei is renowned for his benevolence and righteousness throughout the land. If we go to Han territory, at least we won't have to live a life of uncertainty."

"Besides, we killed the military supervisor, so the Cao family will definitely not let us go."

"To surrender to the Han?"

Wang Shuan sneered, "The Shu Road is a thousand miles long. I'm afraid we'll be intercepted and killed by Cao Cao's army before we even get out!"

He suddenly raised his hammer, "Why don't we take over this hill, and then we can be in charge and make our own decisions!"

The group looked at each other, then lowered their heads in silence.

They didn't understand the general trend of the world; they only knew that Wang Shuan led them to kill the overseer and divide the granary.

What he said is probably right.

Because if I follow him, at least I probably won't go hungry.

At noon, just as everyone had finished distributing the millet, they suddenly heard the thunderous sound of horses' hooves.

The tremors made the wooden planks of the walkway shake violently.

"It's the Tiger and Leopard Cavalry!" someone shouted.

Wang Shuan pushed through the crowd, his pupils suddenly contracting.

Fifty well-equipped cavalrymen rolled in like a dark cloud.

The leading general had a sharp, chiseled face, and his eyes beneath his iron helmet were as cold as ice.

"These ants dare to rebel?"

Cao Chun's voice wasn't loud, but it made everyone's knees go weak.

Those who truly emerge from the battlefield often possess an aura of authority without needing to be angry.

Wang Shuan's throat was dry, but he forced himself to lift the hammer:

"Brothers! Charge!"

The sound faded, and no one moved.

He turned around and found that Zhang the Cripple was already kneeling on the ground.

The others dropped their weapons and huddled together, trembling.

Wang Shuan saw fear in their eyes, a fear etched into their genes.

Although their numbers outnumbered those on the other side by several times.

But the crowd didn't even have the courage to pick up a weapon and fight back.

"Useless trash! Have you forgotten how the overseer tortured us?"

"Fire arrows."

Cao Chun raised his hand, and the well-trained Tiger and Leopard Cavalry behind him simultaneously nocked their arrows.

The first arrow pierced Wang Shuan's shoulder in an instant.

Before he could react, a second arrow pierced his knee.

He knelt down.

Soon came the third arrow, the fourth arrow, and then an endless rain of arrows.

He fell backward and saw countless arrows flying like locusts.

His companions behind him fell like stalks of wheat.

Screams, pleas for mercy, and the sounds of falling off the cliff mingled together.

Cao Chun rode up on his horse, his iron boots pressing down on Wang Shuan's throat:

Do you know why you lost?

Wang Shuan opened his mouth, and blood and foam gushed out.

"Because of you, you don't even deserve to be recorded."

Cao Chun's sword blade reflected Wang Shuan's distorted face.

"You think you can be a hero."

"But they failed to grasp the bigger picture and overestimated their own strength."

“I doubt you have ever accomplished anything of such magnitude in your entire life.”

Even so, history books will only record—

"In the eighteenth year of Jian'an, a peasant uprising broke out in Hanzhong, which was quelled."

The sword flashed.

Wang Shuan's last consciousness was seeing his blood spurting onto the yellow earth, quickly crushed by horse hooves and seeping into the dust.

He only understood it at the very last moment before he died.

It turns out they didn't even have the right to shout "Are kings and nobles born with a special destiny?"

History has never belonged to them.
It's just a matter of one king or general finishing his performance and another taking the stage.

Under the pressure from the Wei army, the roads in Shu were quickly connected.

One after another, tall bridges rise from the ground, and plank roads stretch across the north and south.

Despite the fact that countless bones are buried beneath the high bridges and plank roads.

But Cao Cao didn't care.

He wronged many people in his life, but when it came to road construction, Cao Cao had unwavering faith.

Historical records will only praise his contributions to the development of Shu and for pioneering the postal service in Yizhou.

As for the bones buried underground, who will remember them?

……

Luoyang, the Cabinet.

Since becoming Prime Minister, Lee Ik has taken advantage of the cabinet's administrative efficiency to carry out sweeping reforms.

The purpose is to do everything possible to inject vitality into this newly established country.

Actually, Li Yi had thought about making changes a long time ago.

However, given the previous instability of the regime, there are too many uncertainties.

Li Yi was also worried that major changes would trigger a series of chain reactions.

So I kept putting it off.

Now he holds great power and has a group of capable officials as his assistants.

He then had no more reservations and could proceed with the rectification with peace of mind.

The first step in the reform is to restructure the currency!

People have always praised Li Yi's strategy and military talent.

However, Li Yi was most satisfied with his work in economic development.

This is what he's really good at.

Development is the only way forward, and the economy is always tied to development.

If we want to develop the economy, then we naturally need to reshape the national currency.

Before the Qingyu Token case, Li Yi convened a meeting and formally proposed his decision to issue a new currency.

Everyone initially thought that Li Yi's large mobilization was something important.

Unexpectedly, it turned out to be a really big deal, far more serious than they had imagined!
Currency cannot be issued arbitrarily.

"Prime Minister, why the sudden idea to issue new currency?"

Chen Qun immediately stood up and questioned him.

"It was not sudden, but rather something that had been planned for a long time."

"Although our lord still uses the Han dynasty name, it is different from the former and latter Han dynasties."

"In my opinion, we should not continue to use the currency of the previous dynasty, but should issue our own currency instead."

Li Yi meant that the new dynasty brought a new atmosphere.

We should no longer use the currency units of the previous dynasty.

But this reason is clearly not convincing.

After all, both the Eastern and Western Han dynasties used the Wuzhu coin.

We didn't see the people of the Eastern Han Dynasty changing their currency, so why did they change it in our Third Han Dynasty?

Moreover, when it comes to new dynasties, what they fear most is upheaval and turmoil.

This monetary policy reform directly affects everyone in the country.

This is even more outrageous than cabinet reform, since it only affects the court.

If you dare to touch the money of the entire nation, and something goes wrong, it could really bring down the whole country.

In a short time, two-thirds of the cabinet members became conservatives.

I think Li Yi's decision is too radical.

Emerging countries shouldn't be making such a fuss, starting with something this big right away.

"My initial intention in forming the cabinet was to have you all lend me a hand and do more for our country."

"This is something Your Majesty is aware of," Li Yi said, directly bringing up Liu Bei.

They say that we formed the cabinet to carry out sweeping reforms and address some of the problems.

"But you all hesitated and were afraid of difficulties and dangers."

"If that's the case, what use are you all!"

Li Yi slammed his fist on the table and angrily rebuked him.

Everyone lowered their heads, afraid of causing trouble, and dared not speak.

"If you all dare not do this, in my opinion, we should choose a day to dismiss the cabinet."

"So that you won't be able to collect government salaries without contributing anything!"

Li Yi delivered a triple punch.

First, they used the moral obligation of loyalty between ruler and subject to coerce people, and then criticized everyone for being afraid of trouble in the name of righteousness.

Finally, he even threatened to abolish the cabinet.

That would certainly be unacceptable to the public; if the cabinet were abolished, wouldn't their official positions also be lost?
We haven't even warmed our seats yet, how can we just leave like that?

“The Prime Minister’s words are very true. I believe that issuing new currency will greatly benefit the country.”

"This matter is of utmost urgency!"

Zhen Yao immediately issued a statement expressing his support for Li Yi's monetary policy.

Chen Qun, however, maintained the composure of a politician. Upon hearing Li Yi's inquiry again, he said:
"Prime Minister, why are you in such a hurry to issue new currency?"

"When Dong Zhuo previously wreaked havoc on the court, he had been rampant in minting small coins, causing widespread suffering among the people."

"Now that the country has finally stabilized, changing the currency again might cause trouble."

Li Yi looked at Chen Qun and said seriously:
"Since Changwen also knows that Dong Zhuo used to embezzle small amounts of money, why doesn't he change it?"

Chen Qun was immediately speechless.

It was Dong Zhuo's excessive issuance of small coins that caused the Han Dynasty's monetary system to collapse.

This led to widespread distrust of government-issued coins.

For a long time, people preferred to barter.

Even after Cao Wei unified the north, the practice of bartering remained common.

But if bartering becomes the mainstream, wouldn't society regress?
Therefore, restoring the people's trust in the government's coinage and enhancing the government's credibility is of utmost urgency!
In fact,
The currency problem in the Han Dynasty was always very serious.

Because the official currency of the Han Dynasty was the Wuzhu coin.

China is a country that is extremely short of copper.

During the Han Dynasty, billions of Wuzhu coins were minted at a time.

This led to the copper mines being almost depleted.

While the Han dynasty as a whole was not short of money, its descendants after the Han dynasty suffered greatly.

Since our ancestors had used up most of the copper, what did they use to mint coins?

Therefore, all three kingdoms in history, Wei, Shu, and Wu, carried out currency reforms.

The Shu Han state issued the Zhibai coin, while the Eastern Wu state issued the Daquan coin.

Cao Wei also attempted to increase the value of its currency.

When later generations commented on the currency of the Three Kingdoms period, they generally attributed the actions of the rulers of the Three Kingdoms to bad governance.

They believe this is an act of government exploitation of ordinary people.

For example, the Zhibai coin of Shu Han was simply a coin that was originally a Wuzhu coin and was used as a 100-coin coin.

This would lead to extreme inflation.

The purpose is simple: the government is trying to exploit the masses by using large sums of money.

But to be honest,
All three countries carried out currency reforms, which were essentially a helpless situation forced by objective conditions to appreciate their currencies.

Because there wasn't enough currency in the market, and you didn't have enough copper to mint more Wuzhu coins.

So, we have to treat one coin as if it were a hundred.

As for the claim that being beaten to death is an act of exploiting the people, that's not really an exaggeration.

It is not a question of "good governance" or "bad governance," but a question of market economy.

Because the market will self-regulate, the inflation caused by the first large influx of direct cash into the market will quickly reach equilibrium.

That is, although your horse has risen in price to a million coins, my rice has also risen in price to ten thousand coins per shi (unit of dry measure).

This achieves a kind of black balance.

Of course, if we had to say, were the people of Wei, Shu, and Wu negatively affected?
There must be some.

This was also Li Yi's view on reform: the issuance of new currency would inevitably be accompanied by a period of growing pains.

The sooner you fix it, the sooner it will end; the longer you wait, the more pain you'll experience.

However, the currency of the Han Dynasty was another issue that could not be ignored, so Li Yiyi established a cabinet.

They immediately demanded the issuance of a new currency.

On matters of principle, there is no room for compromise.

Seeing Li Yi's resolute attitude, the crowd had no choice but to comply under pressure.

He then asked Li Yi how he planned to make the changes.

Li Yi then laid out three coin patterns.

One is a mottled old Wuzhu coin, one is a small coin issued by Dong Zhuo, and one is a sample coin he himself newly minted.

"Gentlemen, please observe—"

He pointed with his fingertips at the new coins he had issued on the table.

"These days, trimmed and small-denomination coins are rampant in the market."

"The common people still mainly relied on barter."

"If this bad money continues to circulate, the currency will rot in the hands of the government."

"Therefore, last night I discussed with His Majesty the issuance of this new currency."

"It was named Jingyuan Tongbao."

“‘Jing’ is a metaphor for a bright and prosperous era, and ‘Yuan’ refers to the origin of currency.”

"I intend to use this Jingyuan coin to replace the original Wuzhu coin and small coins."

"...Then I wonder how many the Prime Minister plans to replace?"

Mi Zhu, who came from a family of merchants, looked at the new coins that Li Yi had taken out and asked a question.

"One coin is worth ten coins!"

Li Yi held up one finger and explained.

Mi Zhu was extremely familiar with coins. He held the Jingyuan coin in his hand and weighed it lightly.

I could roughly tell that the weight of this Jingyuan coin was almost the same as that of the original Wuzhu coin!
Generally speaking, if you want to increase the value of money, the weight must also increase.

After all, the people aren't fools.

They are all cast in bronze and weigh the same.

You insist that your Jingyuan coins can be exchanged for ten of my Wuzhu coins.

Wouldn't I be the one getting ripped off?
Take the Zhibai coin of Shu Han as an example.
His was even more extravagant than Li Yi's Jingyuan coins, as one coin was used to be equivalent to a hundred coins.

However, the weight only increased threefold.

In other words, the government can obtain a hundred times the profit with three times the cost.

The same principle applies to the "small coins" issued by Dong Zhuo.

Five-zhu coins weigh approximately 2 to 3 grams, while smaller coins weigh an average of 0.5 grams.

It's like I spend one dollar on something and buy six dollars worth of your goods.

Dong Zhuo practically had "I want to fleece you" written all over his face.

but,

Whether it was Liu Bei's Zhibai coins, Dong Zhuo's Xiaoqian coins, or Li Yi's Jingyuan coins, they all belonged to this category.

The underlying principles are the same.

That is to appreciate the value of the currency so that the government can collect copper coins from the people and regain control of the economy.

Dong Zhuo was a barbarian from Xiliang; how could he understand economics?
The issuance of small amounts of currency directly caused the government to lose credibility.

This caused people to stop using small change, and even the original five-zhu coins.

Bartering is simple and convenient.

Against this backdrop, Li Yi sought to reshape the nation's economy.

He didn't add weight to the Jingyuan coin, but he increased its value tenfold.

In this way, the government was able to recover a large number of copper coins.

Some people might ask, why not just issue paper money?

On the one hand, Li Yi's paper mill was still in its early stages and did not yet have the capacity to issue national currency.

On the other hand, paper money and copper coins played completely different economic roles in the market.

Paper money is credit money, while copper coins are metal money.

Li Yi issued the Jingyuan coin in order to restore the government's credibility.

To make people willing to use government-issued currency.

You can't even gain the trust of the people with metal currency, yet you want to jump directly to using fiat currency.

This is tantamount to crossing the Atlantic Ocean while running a washing machine.

"I am well aware of your concerns, but a short pain is worse than a long one."

Li Yi spoke calmly and methodically, analyzing the situation.

"For example, if you don't remove the rotten flesh from a carbuncle, how can new flesh grow?"

"The pain of labor is inevitable, and we all need to get through this together."

Xu Shu suddenly asked:

"What should we do if the people refuse to use the new currency?"

Li Yi smiled slightly, "Yuanzhi, that's a good question."

He clasped his hands together and placed them on the table, then said solemnly:

"Therefore, this is precisely the policy that our cabinet needs to formulate in detail."

"You shall immediately draft a bill and order local governments to collect taxes in Jingyuan coins only."

"Secondly, the salt and iron monopoly must be conducted in new currency."

"Thirdly, a 'Currency Control Bureau' was established to be responsible for exchanging old coins for new ones."

"If you gentlemen have no objections, then draft the proposal and I will immediately submit it to His Majesty for a decision."

At this moment, Jia Xu, who was usually taciturn, suddenly spoke up.

"Prime Minister, what if someone were to privately mint coins to make huge profits?"

Why?

As mentioned before, this practice of treating one coin as ten is essentially a form of government exploitation of the people.

But money isn't only for government officials.

The world is full of goodwill, and the world is all good.

Driven by enormous profits, some people would definitely risk privately minting coins.

After all, the cost of Jingyuan coins and Wuzhu coins is the same, but the face value of the former is ten times higher than that of the latter!
This is also a drawback of metal currency.

The only way to prevent counterfeiting in metal currency is through its weight.

If this unit is broken, there will inevitably be a large number of privately minted copper coins.

"Mr. Wenhe, please come with me to the palace to meet the Emperor."

Jia Xu was getting on in years, so Li Yi still treated him with respect.

Li Yi had also thought of the problem that Jia Xu mentioned.

So he asked Jia Xu to go with him to see Liu Bei.

Inside the hall, candlelight flickered.

Li Yi and Jia Xu stood solemnly below the steps, with newly minted "Jingyuan Tongbao" coins and several rusty old coins on the table.

Liu Bei picked up a new coin and weighed it in his palm:

"...Ziyu, this coin weighs the same as the old Wuzhu coin, and seems to be slightly lighter?"

Li Yi cupped his hands and said:
"Your Majesty is wise. Although the new coins are light, the copper-tin ratio is strictly controlled, making them less prone to wear and tear."

"Moreover, the practice of trimming the edges of old coins and privately minting them has become rampant."

"As light as an elm seed, the people have suffered for a long time."

Liu Bei frowned slightly:

"Will the people resent reforming the monetary system?"

Li Yi smiled calmly:
"Your Majesty, all the people ask for is food and clothing."

"As long as there is food in the rice jar and clothes on one's body, even if there are complaints, they are just a few grumbles over tea and after meals."

"If the imperial court does not take away their livelihood, who would be willing to risk their head and rise up in rebellion?"

Li Yi's point of view was also very clear.

As long as the people don't starve to death, they won't easily rebel.

Therefore, the government can take tough measures in monetary policy.

Even if it brings resentment, it's acceptable.

"This item is not much more valuable than the old five-zhu coins, but its face value is ten times that of the old five-zhu coins."

"I fear that after its issuance, private minting will become rampant."

Although Li Yi's design for the Jingyuan coin was much more complex than the original edge-cutting technique.

However, this did not prevent private minting.

"Your Majesty is wise. Just now, Mr. Wenhe also mentioned this matter."

After saying this, Li Yi looked at Jia Xu and said:

"Since you just mentioned the private minting of coins, there must be a countermeasure."

"Please try to speak to His Majesty."

Jia Xu bowed respectfully and said modestly:
"I am of limited wisdom and strategy; how dare I offer advice to His Majesty before the Prime Minister?"

"We should ask the Prime Minister for advice."

Li Yi smiled and said:

"Mr. Wenhe, please don't be so modest. There's no need to hide anything in front of His Majesty."

"If you have any good ideas, please feel free to speak them out!"

Liu Bei also spoke up:
"I know that Wenhe is a man of great talent and strategy. Now that he has become the Grand Chancellor, he must not be afraid of danger or difficulties."

Since Liu Bei had already put it this way, Jia Xu naturally couldn't continue to be modest.

He immediately gave his opinion and policy.

"I believe that a 'Cash and Money Administration Office' should be established in each prefecture."

“Inspect the workshops and markets every quarter.”

"Those who privately mint coins—"

His voice turned cold. "The ringleader will be executed by being cut in half at the waist, and the accomplices will be exiled to Jiaozhou and their property confiscated."

“If any neighbor fails to report a case of unauthorized counterfeiting, all ten households shall be held jointly liable and fined three months of corvée labor.”

"A reward of five thousand yuan will be given to the whistleblower!"

"Old coins must be exchanged within a specified period. Those who still hoard old coins or melt them down to make objects after the deadline will be punished."

"According to the charge of treason, execute him immediately!"

Well!
Upon hearing Jia Xu's advice, both Li Yi and Liu Bei's expressions changed.

As expected of Jia Wenhe, his methods are truly ruthless.

Li Yi also felt that it was a bit too strict, so he added:
“The prefects of each prefecture may order the confiscated inferior coins to be melted down and cast into agricultural tools in public, and then distributed to the people.”

"It demonstrates the benevolence of the imperial court and eliminates the dangers of circulation."

"In addition, Wenhe just mentioned the Ministry of Finance, which inspects the workshops and markets every quarter."

"I think this is too long; let's change it to every ten days."

Liu Bei lightly tapped the table, his brows slightly furrowed:
"With the establishment of financial and legal offices in each prefecture, how many more officials will be needed? Can the treasury handle the workload?"

Li Yi calmly unrolled a scroll of bamboo slips:
"Your Majesty, please see, I have calculated it."

“Each prefecture shall have one commissioner in charge of casting, and his subordinates, such as clerks and patrol officers, shall be called ‘li’ (吏) rather than ‘guan’ (官).

"The total number of newly added officials was only over six hundred, and their annual salaries amounted to just over one million."

Liu Bei seemed to be deep in thought:
“You can explain in detail.”

Li Yi then analyzed the situation methodically:
"The salaries of officials are meager."

“The clerk receives 600 coins a month, and the patrol officer receives 400 coins, all paid in new coins.”

“They used the Jingyuan coins to buy rice and wine, so naturally they would fight tooth and nail to protect the money law.”

"Moreover, more officials mean more eyes and ears."

"If there are private minters, according to the old system, the county government should only have three to five constables."

"How can we possibly investigate all of them?"

"We have now appointed twenty full-time patrol officers to monitor the furnace workshop day and night. Who can dare to make any rash moves?"

In Li Yi's view,
We need to recruit clerks, not officials.

The state can certainly support enough officials without causing the bureaucracy to become bloated.

Moreover, the more officials there are, the stronger our control over society becomes.

It's important to know that among the monetary policies of the three kingdoms of Wei, Shu, and Wu in history, only the Shu Han's Zhibai coin was successfully issued.

Both the states of Wei and Wu ended in defeat.

One very important reason for this is that Shu Han had a strong control over society.

They employed many officials.

Officials can act as the government's tentacles, penetrating deep into the capillaries of society and strengthening the crackdown on illegal minting.

On the other hand, the government can use the new money to pay their salaries, so defending the monetary order is not only beneficial to its own regime.

This also benefits the families of these officials, making them a solid backer of the regime.

After all, this is what they're paid for, so they'll definitely fight tooth and nail to protect it.

Otherwise, your money will be worthless, and you'll only hurt yourself.

Of course, the Shu Han state was small.

Its economic development zone is mainly concentrated in the Chengdu Plain.

Therefore, it was easier for Shu Han to control society.

But Li Yi's goal is to control the entire empire.

The scale and the workload are not on the same level.

This forced Liu Bei in this world to be extremely cautious.

If it weren't for Li Yi's persistent persuasion last night, Liu Bei would still be hesitant about issuing new currency so soon.

"Corrupt officials colluding with powerful figures are a situation that must be guarded against."

Liu Bei spoke up to remind Li Yi.

Maintaining too many officials can lead to collusion between officials and businessmen.

"Your Majesty, please rest assured. I have already devised a solution for this kind of situation."

Li Yi had already planned this out, and he gave Liu Bei a lengthy and detailed suggestion.

"Inspectors are rotated to other prefectures every quarter to prevent them from colluding with local powerful families."

"In addition, those who are caught illegally minting copper can receive 30% of the confiscated copper."

"Under such conditions, it is impossible to say that collusion between officials and powerful families has been completely eliminated."

"But extremely rare!"

……

(End of this chapter)