RHE - Chapter 173: The Sage Emperor’s Verdict!

Chapter 173: The Sage Emperor’s Verdict!

Sun Qian came prepared. He carried brush and paper on him, and a servant beside him was holding a tray with inkslab and water. All that was left was for him to jot down Wang Chong’s explanations.

An indescribable feeling welled up within Wang Chong as he looked at Sun Qian.

The matter regarding the jinyuan note was a problem that he brought up at the very end of the memorial he sent to the Sage Emperor. Wang Chong had noticed the issue when he was buying the Hyderabad ores from Ablonodan and Arloja. Huge transactions consisting of several hundred thousand gold taels were conducted on a fairly common basis, and that weighed more than ten thousand jin.
(~5000kg)

Even though it didn’t take up too much space due to the compact size of the gold ingots, it was still inconvenient to carry around.

This made massive cross-border transactions extremely difficult.

Not only so, based on his future knowledge, Wang Chong noticed a potential problem in using gold as a currency.

Gold was a limited resource.

If the rate of gold mining was unable to keep up with the development of the economy, it could severely restrict its growth. In other words, it was possible for Great Tang to run short of ‘money’ in circulation. Based on Wang Chong’s knowledge from another time-space continuum, when dynasties run out of sufficient gold and silver, they would choose to mine and produce copper coins to make up for the deficiency.

Due to the fluctuating quantities of gold, silver, and copper coins in circulation, the currency exchange rate would be highly unstable. A silver tael might be worth a hundred copper coin in one day, but the very next, it might fetch a hundred and ten, a hundred and twenty, or perhaps even more.

This caused instability in the society.

In some dynasties, the royal court had even, to Wang Chong’s incredulity, entrusted the minting of coins to private organisations.

The problem regarding currency wasn’t just limited to the Central Plains, it was a universal one. In the

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Records of the Human Emperor Chapter 173: The Sage Emperor’s Verdict!

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