Chapter 15 Section 4 Relative Stability of Currency in Tang Dynasty

From Taizong Zhenguan to Xuanzong Kaiyuan, the currency system in Tang Dynasty was in a relatively stable state.Among them, the middle period of Empress Wu and the late Kaiyuan period were slightly worse, and turbulent factors had been bred in the surface stability.The reason for the stability of the currency in the prosperous Tang Dynasty lies in the actual effect of the rule of Zhenguan.Emperor Taizong worked hard to govern, selected talents and appointed talents, carefully observed the rise and fall of the past dynasties, prepared for danger in times of peace, took the Sui Dynasty as a lesson, and won the trust of the people.It is often said: "The reason why water carries a boat is also why it capsizes a boat. The people are like water, and the emperor is like a boat." .Under the guidance of these thoughts, he implemented a series of policies to promote advantages and eliminate disadvantages, forming the rule of Zhenguan, which also created good conditions for the stability of the currency system in the prosperous Tang Dynasty.These strategies include the following three items: First, vigorously develop cultural education.Establishing schools, nurturing talents, loving talents, network talents, making good use of talents.Taizong once said that it is better to get a talented person than to get millions of dollars.The imperial court set up Hongwen Museum and Guozijian, greatly promoted Taixue, recruited famous Confucians from all over the world as academic officials, selected talents as bachelors, and elites from all directions gathered in the capital.Therefore, a large number of talents emerged in the Tang Dynasty, and a large number of outstanding talents emerged in governance, military use, financial management, diplomacy, classics, literature, poetry, art, etc., which was the spiritual pillar of the stability of the currency system in the Tang Dynasty.Second, reward farming and mulberry, promote water conservancy, and develop official and private handicraft production in multiple ways. Materials are abundant and prices are stable.The north-south transportation is smooth, the commerce is developed, and the large and small commercial cities are full of water and land arteries.The people live and work in peace and contentment.This is the material basis for currency stability.Third, they are more open-minded in politics, well-organized and harmonious, emphasizing practical results and not seeking fame.Promote national prestige to the outside world and enhance national strength. "The land of the Tang Dynasty is bounded by the sea in the east, Yanqi in the west, Linyi in the south, and the desert in the north. They are all prefectures and counties. The east and west are 9,510 miles, and the north and south are 19,180 miles." ("Tongjian" "Volume 195).This is also one of the guarantees of currency stability.

Although the currency was stable during this period, there were more bad money privately minted.During the time of Empress Gaozong Wu, due to the use of troops at home and abroad, the financial burden was heavy, and the business was developed, which required an increase in coins.Because the cost of casting money is too high, officials are unwilling to cast it, and money is in short supply.Private casting clouds are rising, and evil money is flooding, even if severe punishment and high pressure are used, it is useless.In the fifth year of Gaozong Xianqing (AD 660), the government charged one good money to one evil money and five to five bad money. Because the bad money was priced too low, the bad money was collected instead, and it was invalid to change it to one to two.During the Kaiyuan period (713-741 A.D.), private money was popular in the Jianghuai area, and there were dozens of partial furnace money, and it took only seven or eight Wen to reach the official furnace money.The imperial court sent officials to Jianghuai to check and ban the bad money, which aroused dissatisfaction among the people and they went on strike to resist.In the eighth year of Kaiyuan (720 A.D.), if one thousand Wen of bad money weighed six catties, the official would use 300 Wen of good money to redeem it or give cloth and silk sundries at the current price.During the Tianbao period (742-756 A.D.), many were collected because good money was not allowed to increase the price.The businessman exchanged one penny of good money from Jianghuai for five pennies of bad money, and transported the bad money to the capital for one use.After Tianbao, the current situation was so bad that there was no time to take care of private casting of bad money, so let it go.