Preface
In ancient society, what kind of wealth did a tael of silver represent? This question has always troubled many people, because it involves the living standards and wealth concepts of ancient people.
If we can convert the wealth of ancient times into modern monetary value, we can better understand the distribution of wealth and the economic situation in ancient societies.
In that ancient society, where materials were scarce and life was difficult, how did people conduct transactions, and how did they develop the monetary system where paper money and coins coexist? Let's embark on this history together to get a glimpse of the past and present life of monetary development.
1. The dilemma of barter
In the early days of human civilization, people's lives were extremely simple. In order to meet their basic survival needs, they had to forage for food, gather wild fruits and hunt for a living. However, as the population continues to grow, relying solely on the gifts of nature can no longer meet people's growing needs. As a result, a new form of exchange came into being—barter.
This primitive form of trading may seem simple, but in fact it has many inconveniences. For example, if one person has only one cow in his hands and the other has only some grain, then there can be no equivalent exchange between the two parties. In addition, some perishable items are not suitable as medium of exchange. In the face of these dilemmas, there is an urgent need to find a new equivalent to replace barter.
2. Shells: the earliest equivalents
During archaeological excavations in the Neolithic period, archaeologists found a large number of shells used for exchange, as well as clay pots used to store shells. The reason why the shell can be a general equivalent is that it is light and easy to carry, and it is more convenient to circulate in conventional social groups.
Shells have been used as coins for a long time, from ancient times to the third dynasty of the Xia and Shang dynasties, shells were widely used by people. However, as the market expanded, gemstones, pearls, etc., began to be used as general equivalents. It was not until the level of people's productivity increased to a high level that metal money gradually circulated in the market.
3. Bronze Age coins
Metal currency can be said to be a good alternative to general equivalents such as shells, because it can be minted and issued under full state control, and the supply can be adjusted according to the actual conditions of the market. This kind of regulation is very necessary for the development of a certain size of the market.
The earliest currency materials were mainly precious metals such as gold and silver, and copper was also doped in some currencies of low purity. As the demand for money continued to increase, the production of precious metals such as gold and silver could no longer meet people's needs, and copper coins gradually became the mainstream of money.
In the pre-Qin period, there was a unique currency called "ant nose money", which was shaped like an ant's face, and looked like a ghost mask worn by a singer if you looked closely, so it was also called "ghost face money". There are many materials for this currency, including copper, gold and silver, bronze alloys, etc., and even grimace money with gilding process.
Another type of bronze currency is the knife coin, which was also a popular style in the pre-Qin period, and the knife coin, as its name suggests, is the shape of a large knife. Cloth coins are another type of coins with peculiar shapes, which resemble shovels used for farm work, so they are also called "shovel cloth".
Fourth, the birth of round copper coins
The most well-known is the later round square-hole copper coin, which eventually became the mainstream of metal coin styling and has been used for many dynasties.
With the circulation of coins, the ancients also established corresponding coinage specifications and monetary units, and also invented various currency anti-counterfeiting marks, which would clearly mark the age and other characteristics of the coinage. Through the words and patterns on these currencies, we can clearly determine which era they are a product of.
5. Shortage of silver
In addition to these early currencies, there is another currency that is often overlooked, the shell coin. This shell coin is not a shell of the general equivalent mentioned earlier, but a currency minted in bronze. Because the bronze coins of this period resemble shells, they are called shells.
However, the history of the use of shell coins is relatively short, because the purity and material of bronze are not corrosion-resistant, and it is easy to oxidize and change color, so it was gradually eliminated by copper currency, and finally withdrew from the historical stage. There is also a currency in which a thin layer of gold is plated on the outer layer of a bronze shell coin, and the exchange value of this gold-plated shell coin is much higher than that of ordinary shell coins.
The earliest banknotes in the mainland appeared in Jiaozi, Sichuan, but there are certain risks in the use of banknotes, and it is easy to wear out is the reason why many people refuse to use it. However, there is another key reason behind the long-term use of paper money and copper coins by the ancients - silver used for coinage is very scarce, and it is difficult for a clever woman to cook without rice, and even if the country wants to issue silver coins, it suffers from a lack of raw materials and can only give up.
6. The source of silver
During the Jiajing period of the Ming Dynasty, silver was used as the main currency in large quantities, but it only lasted for about 400 years. Because the main production area of silver at that time was in the Americas, we had to rely on imports to mint silver, and the main source was silver coins minted in Spain.
The silver coins minted in the Qing Dynasty mainly came from silver minerals purchased at high prices from foreign countries, and some of them were already minted by the other party. From the Daoguang period, due to the international dumping of China, which led to a huge trade deficit, a large amount of silver began to flow out, becoming the pocket of the great powers.
7. The origin of silver ingots
In gold and silver currency, there is a form that we are very familiar with - ingots. In fact, the earliest ingots were not mountain-shaped, but the four corners were upturned, but the middle was flat and slightly concave, which looked more like a small boat from the outside.
Ancient ingots were also called "silver ingots" or "silver cakes", in fact, the appearance of silver coins of these names is slightly different, "silver cake" as the name suggests, is the appearance of a small biscuit. The reason why the shape of the silver cake is no longer used is to make it easier to access.
Those of us who use modern coins know that this kind of thin coin is difficult to pick up once it lands on a smooth flat surface, which is why the later Yamagata silver coins gradually came into being.
Later, the shape of the silver ingot gradually elongated and tapered, and even appeared in the shape of a concave in the middle, the history of the appearance of silver ingots and ingots in the mainland was earlier than in the West, and when the ancients began to use silver ingots, this concept did not appear in the West at all.
8. The purchasing power of silver ingots
Taking the monetary system of the Ming Dynasty as an example, 1 tael of silver at that time could be converted into 200 yuan now, but this exchange rate was not fixed, and it could reach 800 yuan at the highest.
If you go back to the Tang Dynasty, the purchasing power of one tael of silver is very amazing, it can reach 4,000 yuan, and the highest time in the Song Dynasty was 1,800 yuan, which shows that with the change of dynasties, the exchange rate of silver is also changing.
epilogue
From the most primitive barter, to the emergence of shells, metals, and paper money, the development of money has witnessed the continuous progress of human society.
The birth of each new type of currency is the crystallization of the experience and wisdom summed up by the ancients in their exploration. In contemporary society, our monetary system has developed quite maturely, but that doesn't mean it's always the same.
In the face of future challenges, we also need to maintain innovative thinking to adapt to the changes in society. After all, just like the ancients, only by keeping pace with the times can we keep up with the times.