History of the Song Dynasty: The Emergence of Jiaozi – The Earliest Paper Money in China
preface
They are all a few pieces of silver in the world, but they can bend people's backbones, lose their childhood dreams, and change the status quo today. Money is inconspicuous, but it is also the most shining one.
cause
Wang Xiaobo and Li Shun revolted: Wang Xiaobo and Li Shun revolted, resulting in too much copper money in Yizhou, so the people began to use jiaozi.
▲ Li Shun and Wang Xiaobo revolted
outcome
Luzhou established jiaozi service: In 1069 AD, in order to solve the finances of the northwest, Song Shenzong decided to set up jiaozi affairs in Luzhou.
▲ Luzhou
disposal
1. Friendship between merchants
Nowadays, we use paper money, paper money is light and easy to carry, but in the beginning, gold and silver were used as money, and later in the Song Dynasty, there were paper money.
In 1003 AD, the prefect of Yizhou Daniel Zhang heard that sixteen merchants in Yizhou had jointly invented paper money, which replaced copper coins and was known as Jiaozi.
▲Yizhou
Although it is paper money, paper money is also strictly managed, in order to prevent someone from counterfeiting, there are special stamps and pictures on the paper money. For this reason, although the banknotes are made of paper, Jiaozi is not afraid of others passing them off.
Daniel Zhang is also very aware of the reasons for the appearance of friends in Yizhou, although the most prosperous area of the Song Dynasty is Jiangsu and Zhejiang, but the prosperous Chengdu of Yizhou is not inferior to Jiangsu and Zhejiang, plus before the wang Xiaobo and Li Shun uprising, copper coins have been dispersed, and paper money has been popular at that time.
However, the paper money at that time was not uniform, but was disorganized and could not be used. However, later the uprising was put down, yizhou trade exchanges, merchants can not always hold a heavy silver two, so this time thought of paper money.
▲Jiaozi
2. Government intervention
It has to be said that paper money is convenient, it is easy to carry paper money in and out of trade, and the merchants have learned from the experience of the past and turned the disorganized paper money into a unified, stamped paper money.
Although the appearance of paper money is a good thing for merchants, the yizhou prefect Daniel Zhang think about it carefully and find that things are not right, because paper money is in the hands of merchants, and they can make paper money and exchange it for money.
▲Copper coins
Indirect is equal to the merchant can create money, if it is only a simple paper money court will not care, but indirect production of money, this can not let the government relax, after all, before can make money are the ability of the princes, but now the money is in the hands of the merchants.
Therefore Daniel Zhang decided to find a way to let the government participate in it, so Daniel Zhang found sixteen merchants, and said that they agreed with Jiaozi, although the current Jiaozi has been built foolproof, not afraid of someone impersonating, but there is a bad point, that is, Jiaozi is not recognized by the government.
After all, the merchants were in the shopping mall, and all kinds of people had seen it, so they also understood the intention of Daniel Zhang, so Wang Changyi, the leading businessman, followed Daniel Zhang and said that they were willing to support the government, and if the government had a place to use the money in a hurry, they would definitely help.
From then on, the merchants' sons were officially recognized by the Yizhou government, and the sixteen merchants in Yizhou would send money to the government from time to time.
Looking at the money in his hand, Daniel Zhang understand that these exchanges are all paper money, if there is no recognition from the merchant, it is a pile of waste paper, although it is approved by the government, but the financial power is still in the hands of the businessman.
▲Song Dynasty Jiaozi pattern
3. Execution of the child
However, Daniel Zhang did not say anything, but accepted the paper money, Daniel Zhang decided to put a long line to catch big fish, he spent four years, little by little, to accumulate all the exchanges he received.
Afterwards, he took the officers and soldiers to Wang Changyi's home and said that he would exchange all the jiaozi for copper coins. Wang Changyi, who Daniel Zhang, was caught off guard, and the amount of money he had made in the past four years was so heavy that he could not exchange copper coins for a while.
But Daniel Zhang they came prepared, saying that the prefect could not exchange money?! At this time, Wang Changyi understood Daniel Zhang's intentions, so he quickly went to exchange copper coins for Daniel Zhang.
But somehow, there are rumors that Wang Changyi is going to be investigated by the government, and everyone is afraid that the paper money in their hands will really become a pile of waste paper, so they also rush to Wang Changyi's shop to exchange money.
▲Northern Song Dynasty Jiaozi Extension
Such a huge amount of copper money exchange still did not bankrupt Wang Changyi, because when the merchants in Yizhou saw that Wang Changyi was confused by the Daniel Zhang, they discussed together that if Wang Changyi fell, the friends in their hands would indeed become waste paper, so at this time the merchants decided to help Wang Changyi.
So the merchants decided to exchange copper coins in batches, so that Wang Changyi's pressure was not so great, and it was precisely because of this that Wang Changyi had a chance to breathe, Daniel Zhang did not bring down Wang Changyi, and the idea of taking back the government by handing over the right to issue failed.
However, later, Xue Tian's appearance realized the idea of Daniel Zhang, and his approach was similar to that of Daniel Zhang, but he reported to the emperor, coupled with the efforts of Daniel Zhang, this time Wang Changyi was completely defeated, and Jiaozi also took back the imperial court.
▲ The Huizi of the Song Dynasty
brief summary
The world's earliest paper money originated from the Song Dynasty's Jiaozi, and the emergence of Jiaozi also consolidated the central power of the Song Dynasty and promoted the development of the Song Dynasty.
【References】
Chengdu Dictionary
Translation of the History of the Song Dynasty
Monetary History of China
Miscellaneous Records of the Dynasty and the Wild Since the Founding of Yan