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Monetary policy during the Three Kingdoms period (Part 2) Shu Wu contended for the value of the currency, indiscriminately issued inflated money and caused disaster

Monetary policy during the Three Kingdoms period (Part 2) Shu Wu contended for the value of the currency, indiscriminately issued inflated money and caused disaster

Sun Quan Wu Guo Daquan five hundred

Monetary policy during the Three Kingdoms period (Part 2) Shu Wu contended for the value of the currency, indiscriminately issued inflated money and caused disaster

Liu Bei Shuguo five baht

If Cao Wei was still like this, the shu and Wu countries were even weaker. When Liu Bei won Jingzhou, Su and Jin were at the same price, and he did not directly attack Liu Zhang, but also out of the shrewdness of the individual stall owner, because he could hardly even provide enough military salaries, so he had to use Yizhou's salary to destroy Yizhou in the name of helping Liu Zhang to attack Zhang Lu, playing karate. After winning the hand, Liu Bei excitedly minted a straight hundred and five baht coin, and the weight of this huge denomination was only three times that of shu five baht, and the price was a hundred times. In this way, the same amount of copper can be exchanged for thirty or forty times the material labor of the people. This currency, whose value was severely separated from its use value, instantly enriched the treasury of Liu Bei's regime. For the implementation of this monetary policy, except for a few people who resisted, the people of Shuzhong helplessly accepted the double exploitation of war and economy. Fortunately, the land of Shu is fertile, the grain production is still quite large, the transnational sales of Shu brocade are very sought-after, and the economy of the Shu state has not reached the brink of collapse. Subsequently, the Shu kingdom continued the nightmare of insufficient currency, and during the Liu Chan period, the straight hundred and five baht became thinner and thinner, almost the same as the five baht. This monetary system is quite fragmented and unstable, and its hidden dangers also make the economy of the Shu state gradually depressed, which lasted until the decline of the Shu state.

Sun Wu's financial situation and Shu Han are also difficult brothers. The economic situation in the area where Wu is located has always been very prosperous, and it has always been an important source of grain, prey, seafood, pearls and other products. During Sun Quan's reign, the degree of private wealth even exceeded that of the government, which also included the four major families of Zhang, Gu, Lu and Zhu. They should all be grateful for the "good policies" of Emperor Wen of Han. As a ruler, Sun Quan certainly did not want such a situation to occur, so in the fifth year of Jiahe (236), he forcibly circulated the "Five Hundred of Daquan", that is, a new currency worth five hundred five baht coins. According to the "Tongdian Food Chronicle", Sun Quan cast the Big Spring five hundred, about 3 centimeters in diameter, weighing about 7.8 grams, and subsequently, Sun Quan felt that the face value of this currency was still too small, in the first year of Chiwu (238), successively issued the 1,000 daquan 1,000, 2,000 oizumi, 5,000 oizumi and other currencies, according to the "General Code", the oizumi 1,000, about 3.2 cm in diameter, weighing about 10.4 grams. That is, in fact, it is only equal to 3.2 five-baht dollars, and it is mandatory to exchange 1,000 five-baht coins.

In the ninth year of Chiwu (246), Sun Quan's treasury was abundant and rich. But the people could not resist such exploitation, could not survive, riots continued, Sun Quan finally canceled the 11-year-old Oizumi currency series in a wave of opposition. At this point, there was no new monetary policy, and the reused currency continued to be used by the Wu people until the fall of the Wu state.

Poor monetary policy, successive years of conquests caused the Treasury of the State of Wu to dry up, and cao Wei competed for Hefei and Fancheng, and with shu Han for Jingxiang and caused large-scale wars, except for Lü Meng's attack on Jingzhou to plunder a large amount of money in the government and get cheap, other wars were lost, and because of the shu and Wu tongtong, the two inflationary countries competed to depreciate the currency as a means of economic warfare, and competed to reduce the value of the currency to prevent a large loss of their own currency. In the copper-based economic system, a copper coin weighing ten weights was minted as a large spring with a value of five thousand, and it was Wu and Shu who finally devoured the evil consequences.

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