Chapter 1058: Be cautious at the beginning and respectful at the end, and you will not be in distress

Li Yougong used the Huang Jinbao Notes in his hand to exchange for some sugar tickets, and then went to buy some things. When getting change, the stall owner gave him 12 more wen. The reason the stall owner gave these was that they were private tickets, valuable notes issued by the Dele Sugar Workshop.

He went to the Dele Sugar Workshop to buy some sugar, spent the private tickets, and then returned to the Viceroy's Southern Yamen.

He walked around like this and really walked for most of the day on the street, understanding the basic logic of how sugar tickets operated.

This thing and the principle of Felipe issuing gold bonds were almost exactly the same.

Just as Westerners believed that treasure ships would continuously bring the gold and silver of the New World back to Spain, almost all Cantonese believed that brown sugar would continuously be transported to Guangzhou Prefecture through merchant firms, merchant groups, and the small sampans of poor laborers.

In fact, there was not that much brown sugar in the treasury to allow sugar tickets to be redeemed, but people still accepted sugar tickets because they needed a general equivalent to measure the value of goods.

Moreover, besides sugar as an anchor, sugar tickets also had another anchor that surprised Li Yougong, and that was tobacco.

In the Nanyang, tobacco was widely planted, and tobacco shreds had become the currency of the Nanyang before Treasure Notes were circulated—the hard currency among hard currencies.

Since tobacco was completely managed by the government, tobacco taxation was extremely heavy. Even the Guangzhou government-run tobacco factory had to pay the full amount of tax, and the price of tobacco naturally included the tax.

And in the Nanyang, there were a bunch of small factories doing flue-curing, and these tobacco shreds became the main focus of smuggling.

It was also the key point of the game between these small sampans and the maritime defense inspectors, because some smuggled tobacco shreds started to smuggle opium as they went.

Sugar and tobacco together constituted the popularity of sugar tickets in Guangdong, but they were limited to Guangzhou Prefecture because among the Liangguang regions, this was the most prosperous.

Li Yougong walked around for half a day and determined one thing: people's acceptance of currency was Treasure Notes > Tongbao > Bai Yin > Government Sugar Tickets > Private Tickets > Flying Money.

Flying Money was a very thin iron coin. This kind of small money had been circulating in the Ming for a long time for two hundred years and was the Ming's main currency. In twenty years, small money had been almost completely squeezed out of market circulation by Wanli Tongbao.

It was not only bad money that could drive out good money; good money could also drive out bad money.

People only accept bad money when they have no other choice, not because they naturally like inferior things. It is because there is too much bad money in the market, while good money is completely insufficient, that good money is driven out.

What Li Yougong never expected was that Guangzhou Prefecture was actually not that keen on silver. Treasure Notes and Tongbao were more easily accepted by people.

The reason for this phenomenon was also very simple: after silver was minted into silver coins, it was not very easy to find change. One silver coin was equal to 700 Tongbao. In daily use, large money like silver coins was actually very inconvenient and was mostly used for savings and large transactions, while daily life used copper coins.

However, copper coins were not as easy to use as Huang Jinbao Notes at all. Copper coins were too small, making them very inconvenient to carry, and they were relatively heavy, small in volume, and easy to lose, while also not very convenient to keep. In the market, whether buying or selling, people didn't like copper coins because copper coins were not very easy to exchange for silver coins.

Both Treasure Notes and Tongbao could be exchanged for silver coins at the meeting hall and post station, but the face value of Tongbao was too small, leading to low enthusiasm for exchanging copper coins at the meeting hall and post station, and the court was promoting the issuance of Huang Jinbao Notes, so the meeting hall and post station were more inclined to exchange Treasure Notes.

Therefore, the phenomenon of Treasure Notes > Tongbao > Bai Yin appeared.

The Viceroy of Liangguang, Liu Jiwen, requested the court to issue Huang Jinbao Notes in a targeted manner, which was a local need and also a matter of urgency.

Li Yougong reported his observations in Guangzhou Prefecture and the cases he handled in detail to the Emperor.

When Zhu Yi received the memorial, it was already the 11th day of the seventh month. After reading Li Yougong's memorial, the situation was still optimistic; there really weren't that many internal traitors.

As for those sea bandits who dared to attack the Ming army, since they chose an opposing stance, they were no longer Ming people.

"Sugar tickets, I have been Emperor for twenty-two years, and I still haven't been able to solve the problem of silver shortage." Zhu Yi said with some emotion.

Previously, when Zhang Juzheng bribed Feng Bao, he used salt vouchers, which were almost no different from the sugar vouchers currently popular in Guangzhou Prefecture; both were currencies with anchor assets.

The Ming was severely short of money, to the point that even in a metropolis like Guangzhou Prefecture, there was not enough silver for circulation.

Of course, this was not Zhu Yi's failure as Emperor, but that the Ming was a glutton, and its appetite was too big. No matter how much silver was filled in, it was not enough.

"Issue an order to the Ministry of Revenue to discuss the matter of targeted issuance." Zhu Yi wrote the official document and had Zhang Hong send it to the Ministry of Revenue to give an opinion on targeted issuance. This would inevitably involve the issue of over-issuance of Treasure Notes.

The Emperor was no longer that worried about over-issuance now.

The Western Commercial Alliance could serve as a sluice gate to release the flood of Treasure Notes to the West and create tides.

And to realize all this, it needed goods as a foundation. Once the Ming lost its commodity advantage, it would slowly lose this ability to create tides.

The Ming was gradually perfecting its theoretical construction of overseas expansion and colonization, and the colonization of military, political, economic, and cultural aspects had begun to unfold comprehensively.

And Zhu Yi himself was thirty-two years old, in the prime of his life. If he could still steer the helm for thirty years without change, saying that the Ming had completed a revival would definitely not be an exaggeration.

"No, is Annam a big pot of stew? It has become a pot of porridge." Zhu Yi looked at the memorials of Chen Lin, Luo Shangzhi, Li Yougong, and others, with an expression of disbelief.

In a small Annam, there were actually five carriages!

The Ming only had the Emperor's carriage, with both civil and military officials on it. However, the four great families of Annam had a total of five, and the extra one was the powerful minister Zheng Song.

Zheng Song defeated the Mo family, and the Mo family heads, the Annamese Regional Military Commissioner Mo Maoqia and Mo Quan, were successively beheaded by Zheng Song.

Zheng Song recaptured Long City, supported a new monarch, and appointed himself "Grand Marshal of the State Affairs, Shangfu, Peace King." He was a well-deserved Regent.

And the four great families of Annam had a total of 72 forces under their command, forming a situation of five masters and 72 families fighting in chaos.

Tong Mo, Li Zao, Du Huai, Ruan Kang, Chen Hongyi, Pan Jinjiang, Wu Gong, etc. —these names were densely listed in front of the Emperor, and of these 72 families, more than 30 were established by powerful families and sea bandits who moved to Annam during the Longqing and Wanli reigns.

"No, why is there a Zhou Zhuangsheng from Taiyuan, Shanxi?" Zhu Yi was extremely surprised.

Liangguang, Fujian, Zhejiang, and Shandong were one thing, but actually, Shanxi people occupied the Xuanhua and Jiaxing prefectures of Annam, dominating a region and submitting to the head of the Ruan family.

Zhang Hong did not know much about this person either, shook his head and said: "Maybe they went to do business."

Some Shanxi merchants liked to buy property and settle down in Yangzhou. Maybe this Zhou Zhuangsheng from Taiyuan went to Annam by sea from Yangzhou.

The reason why Luo Shangzhi led troops to attack Guang'an City and the garrison of Haiyang City remained as still as a mountain was very simple: Du Huai of Haiyang City and Wu Gong, the city lord of Guang'an City, had a deep hatred.

The Peace King Zheng Song arranged for two guys with deep hatred to support each other, completely to threaten Long City by uniting Haiyang City and Guang'an City.

Obviously, in the eyes of the Peace King Zheng Song, internal fighting had a much higher weight than resisting the enemy, and defending against the inside was greater than defending against the outside.

Haiyang City's Du Huai originally intended to let Guang'an City accept a sufficient lesson before sending troops to rescue, but he didn't expect the Ming army's offensive to be so fierce that they captured Guang'an in less than two days. Haiyang City, unable to support itself alone, fled directly.

The maritime gateway of Long City was handed over to the Ming.

If it were the Ming, it would be equivalent to Tianjin Prefecture falling into the hands of the enemy with almost no resistance.

This degree of absurdity made Luo Shangzhi feel a bit embarrassed to ask for merit. He hadn't even used his strength, and the other side had already collapsed.

"Why does it feel like Annam is not as good as the Northern Hu, or even the Japanese pirates?" Zhu Yi looked at the map for a long time.

Whether it was the Tuman Khan or the Altan Khan, their combat effectiveness was still very strong. The Ming fought steadily and surely. Once the Northern Hu became mobile, it was not yet known who would win or lose.

And the Japanese pirates fought a battle with the Ming in Korea for a full three years before the Ming pushed the Japanese pirates into the sea and pulled out all the mountain cities built by the Japanese pirates.

On the whole, the Northern Hu and the Japanese pirates could be considered opponents. Annam was a bit too weak.

"Your Majesty, this is the true face of the barbarians, their original strength." Zhang Hong felt that this was the normal performance of the barbarians.

The Northern Hu had fought the Ming for two hundred years and knew each other well. In the Korean battlefield, the Japanese pirates were also veteran soldiers, and their combat power was still very strong.

"Indeed." Zhu Yi approved of Zhang Hong's statement. The barbarians refreshed in the Ming borderlands, the Northern Hu and the Japanese pirates, were really very capable of fighting.

This performance of Annam was the performance that barbarians should have.

Zhu Yi still recorded merit for Luo Shangzhi according to the Ming's five-grade merit award system and issued an order to the Ministry of Rites to prepare to confer a Marquis title on Luo Shangzhi. As long as he successfully finished fighting Annam and completed the military victory, this hereditary Marquis title would be the family business Luo Shangzhi earned for his descendants.

The Ministry of Rites' Gao Qiyu submitted a memorial, which explained a phenomenon that the Emperor did not quite understand.

These were all important achievements of the Wanli Reform's great debate. The theory of contradiction was widely accepted, but the theory of class was shelved, and even the theory of governing class could not find a famous teacher to educate.

This phenomenon was so common, but the reasons behind it were rarely pondered by anyone.

Because what the theory of class wanted to replace was the distinction between Chinese and barbarians, not other theoretical systems of Confucianism.

To forcibly promote the theory of class, one had to explain a problem, and that was whether these barbarians possessed the same status as the Ming people.

Obviously, this was impossible. Let alone the Ming hinterland, even in the Luzon Viceroyalty, there were more barbarians than Han people. The Han people used the "Ming Law," while the law applicable to the barbarians was the "Luzon Barbarian Governance Articles," which was not even a law, just articles.

In Luzon, Han people only needed to pay some money to kill barbarians, but if barbarians killed Han people, the Viceroyalty would send troops to suppress them.

If they wanted to use the theory of class to replace the distinction between Chinese and barbarians, then many things would become unexplainable. The Japanese slaves of Japan, the barbarian slaves of Luzon and Annam, and the Kunlun slaves sold by Persians and Arabs—they were also poor laborers being stripped.

If the theory of class counted, if these people were also human, if so, the Ming would not be able to reasonably plunder wealth.

From the perspective of the country's development, the theory of class was obviously more reasonable, but the distinction between Chinese and barbarians was more in line with the current situation.

Gao Qiyu's memorial explained why the theory of class was something that had to be learned to become a minister in the court—at the very least, it was something that officials above the fifth rank would learn, because it was inherently not very suitable for widespread promotion.

The theory of contradiction was a methodology, so it had no such concerns at all.

Zhu Yi agreed with this view. The biggest problem with promoting the theory of class was probably not Confucianism, but the current situation and environment.

If they wanted to promote the theory of class, they would have to give up plundering wealth overseas. Then Zhu Yi would rather not have written the theory of class.

After Zhang Juzheng retired, the Emperor became the greatest leader of the conservatives in the Great Ming.

As the Minister of Rites, Gao Qiyu had to explain the rites and laws. In the second half of the memorial, he explained why the theory of class was reasonable.

He wrote a point that was very difficult for people to accept, and that was that the demise of aristocratic politics had a certain correlation with the prosperity of the imperial examination system, but the fundamental reason that ultimately led to the demise of aristocratic politics was Huang Chao killing people according to the genealogy.

Generally, Ming scholar-officials believed that the demise of aristocratic families was the power of the times moving forward and the inevitable result of the maturity of the imperial examination system and the bureaucratic system. Huang Chao was just meeting the occasion, which was why he gained such a great reputation.

Gao Qiyu wrote this memorial, which generally would not be published in the court gazette. Gao Qiyu told the Emperor that things were not like this.

In the mid-to-late Tang Dynasty after the An Lushan Rebellion, 75% of the chancellors in the imperial court came from the prominent families of the Seven Surnames and Ten Houses, while the remaining quarter came from the humble families; the "humble families" here also had family status, rather than being from the ranks of the poor and laborers.

Like the son-in-law Fan Yuanshan and the cowherd Xiong Tingbi, these poor laborers being able to pass the imperial examination was simply unimaginable before Huang Chao.

The basic pattern of the middle and late Tang Dynasty could still be summarized by "no humble families in the upper ranks." The imperial examination system gradually perfected by the Tang Dynasty was, in fact, still firmly held by aristocratic families.

The appointment advantage of the scholar-official families did not decline before Huang Chao; it even strengthened with the perfection of the imperial examination system.

Huang Chao beheaded the scholar-official families and aristocratic families according to the genealogy, which led to the great weakening of the influence of aristocratic families and scholar-official families, coupled with the chaos of the Five Dynasties and Ten Kingdoms, which ultimately caused the complete demise of aristocratic politics.

The theory of class was proven. Just as the theory of class struggle volume said: all fairness and justice are obtained through struggle, not bestowed by others.

Gao Qiyu's meaning in submitting this memorial was very clear: as the ruling class, they must study the theory of class and combine it with the theory of contradiction to govern the country and formulate decisions.

Zhu Yi replied with more than three hundred words, affirming Gao Qiyu's statement and also speaking of his own views as Emperor.

"Never believe in the wisdom of later generations, because you don't know how stupid later generations can be." Zhu Yi picked up another memorial. After reading it, he felt dark before his eyes and directly took out the seal, stamping the "Cheap Confucian" seal on this memorial.

With this seal, the cabinet would sternly reprimand the official who wrote the memorial. The stern reprimand of the cabinet was a huge pressure for any official.

For so many years, Zhu Yi had never seen an official who could receive three seals. Usually, receiving one seal was enough to make them never dare to talk nonsense again.

Zhu Yi also rarely used the "Cheap Confucian" seal. It was well known that the Emperor was not easy to fool. Now they really couldn't be deceived by court beatings. When His Majesty used court beatings, he really beat them to death.

This memorial was jointly submitted by the Ministry of Revenue's Censor Li Ruhua and the Lianghuai Salt Transport Commissioner Yuan Zhen. They felt that the late Duke Wang Guoguang's policy of paying military salaries in kind had some shortcomings, and that was that it was too expensive.

The court had to pay a full 6.6 million silver every year to purchase various goods and then issue them in kind to the garrison troops.

The two of them came up with a good idea, called the "Gangyun System."

That was to organize the most powerful salt merchants along the coast of Jiangnan into "Gang Merchants," who would be fully responsible for the supply of grain, salt, and materials to the border, while the court would directly collect salt taxes from the salt merchants.

In this way, it not only solved the problem of material scarcity in the border areas but also solved the situation of the court's fiscal deficit, and also solved the dilemma of difficult salt tax collection. It could be called killing three birds with one stone!

Zhu Yi was not a ten-year-old child. He was already thirty-two and had twenty-two years of work experience. For any government decree, let alone killing three birds with one stone, even if it was a dilemma that solved itself, one had to ask what the price was.

The Gangyun System was good in every way, except that it never considered the life or death of the border soldiers!

"In the eyes of these scholar-officials, are our Ming border troops not human? Are they not Ming people? How could they come up with such a vicious strategy?" Zhu Yi was furious.

Besides stamping the "Cheap Confucian" seal, he also wrote more than three hundred words, scolding the two cheap Confucians until they were bloody!

The Gang Merchants formed by this "killing three birds with one stone" would completely monopolize the transportation of salt.

In the past, anyone could transport grain, salt, and goods to the border and exchange them for silver in the garrison. But with Gang Merchants, there was a threshold for entry. Only a few merchants approved by the court had the right to transport goods.

This was the third bird of killing three birds with one stone: directly taxing the Gang Merchants, simple and direct.

In the future, if the Gang Merchants wanted to send them, the border areas could receive supplies like drizzle. If they didn't want to send them, they would sell salt and the like to the hinterland instead of the border areas, and then the border areas would have nothing, not even a few mouthfuls of salt.

They hadn't eaten enough of the bitterness of monopoly and wanted to eat it again.

Ming merchants were willing to send goods to the border areas because there was silver issued by the court in the border areas, so they were willing to go to the border areas. If this power was really given to the Gang Merchants formed by rich merchants and big families, the Ming's border areas would only completely rot.

"Send this Li Ruhua to Suiyuan to reclaim wasteland and farm for three years, and then he will understand everything. Sitting in the yamen in the capital and pointing fingers at the border areas—who gave him the courage! Pointing fingers without understanding the situation, even I dare not do that!" Zhu Yi gave a clear punishment: first send him to Suiyuan to farm for three years.

After doing some work, his brain would be clear.

As for the Lianghuai Salt Transport Commissioner Yuan Zhen, he was somewhat different from this Li Ruhua.

Yuan Zhen hoped to transport more things to the border areas. His idea was: restore the previous "Kaizhong Method."

With the completion of the construction of the Kai-Long Road, transportation capacity and costs were greatly reduced. Could they take advantage of the convenience of the Kai-Long Road to restore the ancestral laws?

His idea was good, but it was wishful thinking.

Some policies were destroyed and were truly gone forever. But if there was even a slight possibility of restoring the Kaizhong Method, Wang Guoguang would not have given all the white silver to the border areas.

This was a super-large-scale support of 6.6 million silver every year, which was 11 late emperors' mausoleums a year (at first 500,000 silver was used, later 100,000 silver was added for repairs, one late emperor's mausoleum was 600,000 silver).

If there was an opportunity, Zhu Yi naturally also hoped to restore the Kaizhong Method. Unfortunately, the policy had been completely destroyed during the Xiaozong reign.

The "Book of Documents" says: "Be cautious at the beginning and respectful at the end, and you will not be in distress."

This world is just like this. Once a decision is made, it doesn't mean that if you regret it, you can change it back. It is often too late to regret.

Zhu Yi was very cautious about every policy. If he saw that a matter could not be accomplished, he would withdraw the order. Even for things he really, really wanted to do, he would wait a long, long time before doing them, just because he was afraid that his wrong decisions would bring deep difficulties to the common people.

"Eh, what are the Zhejiang merchant groups doing in Songjiang Prefecture all day? Shouldn't they be at the Ningbo Maritime Trade Office?" Zhu Yi picked up the memorial of the Songjiang Prefect, Hu Junde, and discovered a very interesting phenomenon.

The chaotic battle of merchant groups in Songjiang Prefecture was even more chaotic than the chaotic battle of the five masters and 72 families in Annam.

"Not only the several merchant groups of Zhejiang, but even the merchant groups of Shanxi are in Songjiang Prefecture." Zhang Hong specifically went to understand this situation, and the situation was extremely complex.

Jin merchants, Qian merchants, Hui merchants, Wu merchants, and Yang merchants were all in Songjiang Prefecture, launching extremely fierce competition with the local Ocean Trading Firm of Songjiang Prefecture, and the Songjiang Ocean Trading Firm was almost replaced by the joint efforts of these several families.

They even fought with the momentum of deer-hunting in the Central Plains. Songjiang Prefecture was a good place, and those with virtue should live there!

Sun Kehong invested in the Songjiang Maritime Academy for a long time. When the Shanghai University was built, Sun Kehong also donated 500,000 silver, not asking for any return, just asking for a good connection.

After graduating, the boatmen of the Maritime Academy and the students of Shanghai University also cherished this incense-burning friendship. If the conditions were the same, they would all invest in working for the Songjiang Ocean Trading Firm.

If it weren't for this, with several families joining forces, the Songjiang Ocean Trading Firm would really not be an opponent.

Talent is the key to determining victory at any time.

Hu Junde submitted a memorial, mainly talking about the selection of personnel for the Songjiang Ocean Trading Firm. Sun Kehong did not recommend his son to inherit the position of merchant leader, which was something that almost everyone had not expected.

Sun Kehong recommended his elite soldiers and capable generals.

An outsider from the Chu region, named Chen Jingyi. This Chen Jingyi was from Changsha, and his family was poor. He originally worked as an apprentice in Sun Kehong's cotton workshop, and everyone called him "Little Six."

This Little Six was extraordinary. In just twelve years, he went from an apprentice to managing all of Sun's cotton workshops. By the 22nd year of Wanli, Chen Jingyi had already become the subordinate Sun Kehong relied on most.

Sun Kehong did want to recommend his son, but after thinking about it, he finally recommended Chen Jingyi to the court. He had the ability and the responsibility to lead the Songjiang Ocean Trading Firm to continue moving forward.

He considered the problem mainly because his son didn't have much ability. If he were imprisoned because of some financial disputes, he was afraid that their Sun family would really become a big joke in Shanghai.

"I hope this Chen Jingyi can live up to Sun Kehong's expectations." Zhu Yi gave his imperial approval to this memorial.

The Songjiang Ocean Trading Firm had already grown into a super behemoth. The merchant ships belonging to the trading firm, because of "carrying swords to do business," had armed forces that even exceeded the overall strength of the Annam Kingdom.

The trading firm's merchant ships had to go to the East Pacific Viceroyalty to do business three times a year. Without sufficient weapons and equipment on board, it was simply impossible to sail freely on the Pacific Ocean.

With such a powerful force, the selection of the merchant leader needed to be reported to the court and decided before the throne.

In essence, the trading firm was not a completely private merchant group, but a merchant group established under the organization of the court. In the original share capital, the Songjiang Prefectural Southern Yamen held a full 60% of the share capital.

Zhu Yi received Sun Kehong and Chen Jingyi the next day.

Chen Jingyi never expected that he would be summoned by the Emperor for taking over as merchant leader. From the perspective of official rank, the merchant leader was just a ninth-rank official. Being able to be summoned by the Emperor truly made Chen Jingyi a bit flattered.

"We ministers pay our respects to Your Majesty. May Your Majesty live ten thousand years, ten thousand years, ten thousand years." Sun Kehong and Chen Jingyi were very respectful, not daring to let their etiquette have any flaws.

"Exempt from etiquette, exempt from etiquette. It has been years since we last met, and the merchant leader's style remains the same." Zhu Yi said quite gently. He sized up Chen Jingyi. This person's appearance was very handsome, not the kind of soft handsomeness, but very capable, and also carried a bit of integrity.

At least in front of the Emperor, he did not lose his composure.

Facing the throne was originally easy to be nervous, and the cumbersome etiquette further aggravated the nervousness.

Over the years, many ministers were nervous when they first faced the throne, and many were so nervous that they couldn't speak completely, and some spoke in a topsy-turvy way.

Chen Jingyi had seen the world and had seen big storms and waves. He had led the trading firm's ships twelve times to trade across the Pacific Ocean, earning immense wealth for the trading firm.

The purpose of the trading firm gathering together was to make money, and Chen Jingyi could lead the trading firm to make money, so it was not strange that Sun Kehong chose him to be the spokesperson.

"Not bad." Zhu Yi motioned with his hand and said: "Sit down and speak."

Chen Jingyi's heart, which had jumped to his throat, finally fell back a little. Saying he wasn't nervous was a lie. He was just trying his best to control himself so as not to lose his composure and bring unnecessary trouble to himself, his family, and the trading firm.

Offending the Holy One and disturbing the Imperial Carriage—no one could afford the price.

"The Songjiang Trading Firm has been established for almost twenty years. When I first met the merchant leader, he was also in the prime of his life." Zhu Yi said with some emotion. This was a small communication technique: chatting about the past to ease the nervous and awkward atmosphere.

As a superior, if you don't know anything else, you must know how to hold meetings, how to lead the direction of the meeting, and be good at communication, rather than being high and mighty and arrogant.

"In the second year of Wanli, my younger brother received an imperial order to prepare for the establishment. At that time, including the yamen, there were only four families in the trading firm. Now there are almost seventy families. I am sixty-five this year." Sun Kehong recalled the past and couldn't help but sigh.

At that time, because his legs and feet were inconvenient, it was his younger brother Sun Keyi who received the imperial order to prepare for the establishment. Later, Sun Keyi had a hot head and ran to Nagasaki. This trip lasted almost twenty years, and he threw the trading firm's affairs to him.

Zhu Yi chatted with Sun Kehong for a few words, and the atmosphere immediately became harmonious. After all, when the Emperor wanted to make things difficult for Xu Jie, the Sun family would definitely help out. Because they had a common enemy, they had common topics.

Seeing the atmosphere was warm, Sun Kehong immediately said: "Your Majesty, promoting the circulation of Huang Jinbao Notes in the entire East Pacific Viceroyalty cannot rely solely on the Pan-Pacific Commercial Alliance General Council. The trading firm needs to play a key role. Chen Jingyi has some ideas. May I let him explain to Your Majesty?"

Sun Kehong and Chen Jingyi both noticed the court's ideas and the huge resistance they encountered.

Issuing too many Treasure Notes might lead to a collapse of credibility due to over-issuance. If they didn't over-issue, Huang Jinbao Notes wouldn't be enough to use. Establishing a reservoir became very important.

"Let's hear it." Zhu Yi looked at Chen Jingyi, signaling that he could start speaking.

"The key to promoting the circulation of Treasure Notes lies in goods, and even more in the hearts of the people." Chen Jingyi took a deep breath and began to draw a big cake for the Emperor.

Chen Jingyi was always good at drawing big cakes, but this time it was drawing a big cake for the Emperor. If His Majesty couldn't eat this big cake, he couldn't afford the blame.

Chen Jingyi was very well prepared and very good at observing words and expressions. His Majesty obviously didn't like so much pedantry, and Chen Jingyi also explained things very clearly and thoroughly.

Make good use of the ocean-going merchant fleets, with warships in the left hand and Ming goods in the right hand. In a few years, these barbarians would naturally accept Huang Jinbao Notes.

"Barbarians are all like this; they accept it after being beaten once." Chen Jingyi summarized concisely. ===== CHAPTER 1059 =====