Rise of a Lonely City: From Exiled Prince to Ruler of the Nine Provinces

The cement roads, like crisscrossing blood vessels, tightly connect the cold abyss with all directions, and the lifeblood of wealth flows through them.

However, with the explosive growth in trade volume, a huge hidden worry has also emerged—currency chaos.

At the "Wanhuo Dashi" (a large market for all kinds of goods) in Zhenbeicheng, the trading scene was bustling, but the settlement process was a headache.

On the counter, there were piles of coins: the "Kaiyuan Tongbao" of the previous dynasty, the "Daxia Tongbao" of the current dynasty, the "Yan Dao" of the Northern Yan, the "silver cake" of the grasslands, and even privately minted "bad coins" and "inferior coins" with clipped edges.

Merchants needed to prepare scales, scissors, and steelyards. When trading, they not only had to distinguish between genuine and counterfeit goods, weigh them, and calculate their purity, but they also had to argue heatedly about the exchange rate.

This not only leads to inefficiency but also breeds a large number of frauds and disputes, seriously hindering business development.

Xiao Chen knew that "currency is the lifeblood of the economy; if the lifeblood is blocked, all kinds of problems will arise."

If we want to truly control the economic lifeline, establish an independent economic system, and unify the currency, it is imperative.

On this day, Xiao Chen convened a "Money Law Conference" in the main hall of the Prince's Mansion, bringing together representatives from the Household Department, the Works Department, the Maritime Trade Department, and major merchant houses.

Instead of directly ordering the "abolition of the old coins," he threw out a new coin that was gleaming gold and exquisitely crafted.

"Gentlemen, please look," Xiao Chen held up the new coins high, "These are the Jingbei Tongbao coins specially minted by the Imperial Workshop at my command."

The officials and merchants stared intently at the coin, which had a lustrous blue-green color, neat edges, clear characters, exquisite patterns, and a heavy feel in their hands, indicating its excellent quality.

The obverse features the four characters "Jingbei Tongbao" in regular script, written in a vigorous and powerful style; the reverse features the characters "Dang Shi" and a hidden mark in small seal script for the two characters "Zhenbei".

"This coin," Xiao Chen looked around at everyone and said loudly, "weighs one qian and two fen, is seven parts copper and three parts lead, is of good purity and accurate weight. One Jingbei Tongbao is worth ten old-style small coins."

"Today, I intend to use this currency to unify the currency of my Hanyuan. What do you gentlemen think?"

The merchants looked at the new coins and nodded in approval.

"This coin is of far superior quality to the miscellaneous coins on the market; it's not a deception."

"The edges are neat and burr-free, making it difficult to trim or grind. It features hidden anti-counterfeiting marks, making it difficult to imitate."

"One coin is worth ten coins; it's easy to calculate and lightweight to carry."

"Guaranteed by a prince and issued by the government, its credibility is beyond worry."

"Your Highness is wise!"

The leading merchant stood up and said, "If this currency can unify the monetary system, it will truly be a blessing for us merchants and for all the people of Hanyuan!"

Indeed.

Xiao Chen nodded, "However, to implement a new currency, a good method is needed."

He then promulgated the Money Law.

The core content of the "Money Law" is as follows:

I. The "Jingbei Tongbao" is hereby established as the legal tender of Hanyuan, and is accepted in both public and private transactions.

II. Stipulated currency values: one "Jingbei Tongbao" (worth 10 cash), one "Jingbei Zhongbao" (worth 100 cash, silver, pending issuance), and one "Jingbei Yuanbao" (worth 1000 cash, gold, pending issuance).

3. Private minting is strictly prohibited: Anyone who privately mints coins shall be executed immediately and their family property confiscated.

IV. Strictly Prohibit Inferior Coins: It is forbidden to damage coins by cutting, grinding, or drilling holes. Violators will be severely punished.

V. Exchange of Old Coins: The government established a "Coin Bureau" to collect old coins using "Jingbei Tongbao" at a ratio of "three to one", and melted them down for recasting.

VI. Tax Collection: The government shall only accept "Jingbei Tongbao" for all tax collection, grain payment, and other tax payments, and shall not accept any other coins.

With the decree promulgated, minting coins became an urgent task.

Xiao Chen ordered the establishment of the "Black Mountain Mint" next to the "Black Mountain Iron City".

Utilizing the copper ore associated with the Heishan iron ore mine, and purchasing large quantities of copper ingots from the grasslands and Beiyan, ensures a sufficient supply of raw materials.

Abandoning the traditional "mold casting method," the "master coin sand casting method" is adopted. First, a "master coin" is carved, and then a mold is made using fine sand and clay, allowing hundreds of coins to be cast at once. This greatly improves efficiency.

A water-powered roller is used to roll the edges of the cast blank, making them neat; a water-powered polishing machine is used to polish the surface of the blank, making it smooth.

A small amount of tin and zinc were added to the molten copper to change its color and sound; the inscription was written by a famous calligrapher, making it difficult to imitate; the reverse side was engraved with the hidden mark "Zhenbei" and the year of casting.

At the Black Mountain Mint, the furnaces roared day and night.

In the huge crucible, molten copper boiled, and the craftsmen skillfully poured, demolded, and polished it.

Strings of "Jingbei Tongbao" coins cascaded down like a waterfall, jingling and piled up like a mountain.

The key was how to get the people to accept the new coins. Xiao Chen adopted a "boiling frog" strategy to avoid violent upheaval.

The army's pay was first distributed in "Jingbei Tongbao" coins. The soldiers were overjoyed to receive the heavy, shiny new coins and rushed to the market to shop, and the new coins quickly began to circulate.

The salaries of government officials, artisans, and instructors were subsequently replaced with new currency.

The Maritime Trade Office announced that commercial taxes would only be collected in new currency. Merchants, in order to pay their taxes, had to find ways to exchange for new currency, which increased the demand for and credibility of the new currency.

The government established "government-run money shops" and encouraged private money shops to participate, exchanging old coins at a preferential rate of "three for one".

Many ordinary people and merchants, seeing that the new coins were of good quality and had stable value, took out the old coins they had hidden at home to exchange for them.

The "Jingbei Tongbao" coin achieved remarkable results in just three months of implementation.

Transaction efficiency has greatly improved, with cash being exchanged for goods on the spot, eliminating the need for cumbersome weighing and color inspection. Market transaction volume has surged by 30%.

The new currency has a stable value, which curbs inflation, keeps prices stable or even decreases, and benefits the people.

The government obtained huge revenues through the "seigniorage" and replenished the treasury.

Hanyuan has freed itself from dependence on external currencies and gained control of the economy. It can regulate the economy and respond to crises by adjusting the money supply.

Although copper coins were valuable, they were still inconvenient for large transactions. Xiao Chen ordered the minting of "Jingbei Zhongbao" and "Jingbei Yuanbao" coins.

The silver coin weighs one tael, is 95% pure, and is worth one hundred cash. The obverse features the inscription "Jingbei Zhongbao" (靖北重宝), and the reverse features a coiled dragon design.

The gold coin weighs one qian (approximately 3.3 grams), is 98% pure, and is worth 1,000 cash. The obverse features the inscription "Jingbei Yuanbao," and the reverse depicts a qilin (a mythical creature).

The circulation of silver and copper coins greatly facilitated large-scale trade. Merchants from the Western Regions and wealthy merchants from Northern Yan readily exchanged gold and silver for Hanyuan silver and gold coins, which were convenient to carry and guaranteed trustworthy.

With the unification of currency, money shops flourished.

Ordinary people and merchants deposited their idle coins into money shops and earned interest; the money shops then lent the funds to those in urgent need, charging interest and thus revitalizing the capital.

By depositing money in Zhenbeicheng, one could withdraw it in places like Panshibao, Qinghe Town, and Heishan Town using a "bank draft," thus avoiding the risks of carrying large sums of money over long distances.

"Silver notes" and "money notes" began to appear, and "payment upon presentation of a note" became the prototype of paper money.

Standing in front of the warehouse of the "Black Mountain Mint", Xiao Chen looked at the mountain of "Jingbei Tongbao" coins and felt a sense of accomplishment.

"Old Master Han," he said to Han Lie, "this money, though small, is related to the foundation of the nation."

"Your Highness is absolutely right."

Han Lie said, "With its own currency, Han Yuan has grasped the economic lifeline. It will no longer be subject to others, nor will it be controlled by others."

"That's not all."

Xiao Chen's gaze was profound. "In the future, we will make the 'Jingbei Tongbao' circulate throughout the world. Let everyone in the world use the money of Hanyuan and believe in the promises of Hanyuan. In this way, we can subdue the enemy without fighting and take their cities without attacking."

The establishment of the monetary law not only unified the currency but also laid the foundation for Hanyuan's "financial-based nation-building".

This small copper coin intricately linked wealth, reputation, and power, injecting a continuous stream of financial lifeline into the rise of Hanyuan.