Qiang Quansheng was wearing a black short windbreaker and listening to his subordinates' reports with a smile.

"After our multiple batches of tests, the latest silver content of the Spanish cross silver coins (commonly known as peso) with a denomination of 8 Rials in Spain has dropped to less than 22 grams, and the silver content of other denominations has also decreased to varying degrees; and the quality of British coins in the period of civil war has also dropped sharply, and the silver content per shilling has dropped to 4 grams, which means that the silver content per pound has dropped to only 80 grams; the quality of Liver in France has dropped to an exaggerated level. Since the new prime minister came to power, in order to raise huge amounts of war funds, France has minted a large number of low-quality coins. The silver content of each denomination is also different, and there are many differences. We cannot make an effective judgment on its currency value at all. The only thing worthy of praise is the Ducat and Dukatoon (shield) minted by the Netherlands. The precious content of gold, silver and other in coins has dropped slowly, and the currency value is still stable." said Hai Dafu, a researcher at the State Administration of Precious Metals Administration.

Hai Dafu, whose original name was Harman, was a German-made Livornian. He studied when he was young. However, years of war in the Livornian region made him completely desperate about his hometown, and he came to the New World to try his luck. After working hard at the Northwest Reclamation Bank on the east coast for many years, he has now been transferred to the newly established General Administration of Precious Metals Management to serve as a full-level researcher, and is considered a proud upstart.

The State Administration of Precious Metals Management is an organization directly under the Executive Committee. It has two institutions, Dayuhe Mint and the State Treasury. It is responsible for minting coins, adjusting exchange rates, formulating financial measures, and supervising the two banks on weekdays. It has great power. Qiang Quansheng is the first director of the State Administration of Precious Metals Management. At the same time, he is also a member of the Economic Countermeasures Committee of the State Council, and is a senior think tank and main assistant to the Finance Committee of Nie Xiaoqian. This man who was just a small accountant before traveling through time finally got the opportunity to make a fortune after nearly forty years. He became the leader of the special real-power department of the State Administration of Precious Metals Management.

"So, the foreign exchange price needs to be adjusted again? It was just adjusted half a year ago. These European guys are becoming less and less arrogant. They are so dishonest in minting silver coins. They are really poor to this point? Well, we can't control these people's credibility, but the value of our main currency, "yuan", must be stable. The quality is 27 grams of silver + 3 grams of copper, and there is no shortage. Otherwise, the gloomy guys in the Mei agency are not vegetarians, do you understand?" After listening to the report, Qiang Quansheng casually reminded Hai Dafu. In fact, the Mint is not Hai Dafu's management. He only cares about adjusting the exchange rate, but after hearing Qiang Quansheng's words, he still nodded respectfully.

"The exchange rate adjustment schemes for several major currencies have come out." Hai Dafu licked his lips and continued to report: "After the complicated calculation and discussion of the colleagues in the bureau, it was decided to adjust the exchange rate between the dollar and the Spanish peso (8 rial face value) from 1:1.2 to 1:1.4; the exchange rate between the dollar and Dutch guild from 1:0.5 to 1:0.55; the exchange rate between the dollar and the Dutch guild from 1:3 to 1:3.2; the exchange rate between the dollar and the British pound from 1:0.28 to 1:0.35.

It is several major currencies. As for other side currencies with very small settlement limits, we are still evaluating them. We will report to Director Qiang in a few days. In addition, colleagues in the bureau have always believed that any coins from France should be rejected because their quality has dropped rapidly and the content of the same batch is very different. It is impossible to draw a more reliable conclusion about the real coins worth. Liver, or francs, has no credibility anymore. We cannot test the coins from France every time we trade, right?"

"This is indeed a problem. France has been very happy in this war that has lasted for more than 20 years. At the beginning, with Britain and the Netherlands, they spent a lot of military expenditure every year to support other countries. Later, they went barely and expanded their territory and population a lot. Humph. Let's just throw away their finances! Now they rely on despicable means of minting bad coins to plunder the people. Fortunately, the franc is not an international currency, otherwise they can impose seigniorage tax on the whole world." Qiang Quansheng said gloatingly, "For the French government's behavior, francs will not become international currency for a hundred years. By the way, have you let go of the new exchange rate adjustment plan in advance? Can the merchants on the market accept it?"

Whether merchants can accept the new price adjusted by the East Coast people is what Qiang Quansheng is worried about, because it will inevitably touch the interests of many people. For example, you come over to trade with a bunch of shillings, but suddenly you find that the money you could buy ten thousand pieces of cotton before suddenly can only buy 7,500 pieces, which has shrunk by a quarter, which is not happy for anyone.

However, this exchange rate does not work without adjustment. Now that the 30-year war has reached its end, all European countries are basically exhausted, both psychologically and financially. In this way, a large number of inferior coins that use inferiors as good people and plunder people's wealth have begun to be minted in large quantities to supplement the nearly exhausted finances of various countries. According to the rule proposed by Greshin in 1558, that is, "bad coins, if their quantity is not limited, good coins will be driven out." Therefore, most of the market is filled with currencies with poor quality, and of course some of these currencies will be circulated to the New World for transactions.

Of course, the holders of these coins know that there is a problem with the currency quality of their hands, but people are lucky. What if the inferior coins they have been taken by the East Coast people at the relatively high exchange rate before, wouldn’t they make money? If they exchange these inferior coins they get at relatively low prices for high-quality printed cotton or high-quality dyed leather goods from the East Coast people, then they will make two money this time.

However, things are often not as good as people expected. In fact, East Coast people have adjusted the exchange ratio between the East Coast dollar and major European currencies in recent years. The overall trend is that European currencies are depreciating relatively, and East Coast currencies are relatively appreciated. The old mainland currencies they have at hand will inevitably be discounted when trading, otherwise East Coast people will refuse to trade, and the owners of these inferior currencies will often compromise in the end. One reason is that the exchange price given by East Coast people is indeed fair, and the other is that if you don’t buy them here, where do you buy these high-quality goods?

Therefore, unless it is the first time merchants who come to the East Coast to trade, they will store a large number of East Coast coins in the cabin. The East Coast Dollar is exquisitely made and has a strong currency. Over the years, the currency value has been very strong and has been reserved by these merchants. They collect other people's lack of quality coins through a reasonable and even slightly profitable discount, and then melt them into new East Coast coins, and then be collected by others at a price slightly higher than the actual value (calculated in silver content). The East Coast people are equivalent to levied seigniorage tax from others in disguise, and the annual income generated by the finance department is still quite considerable.

"It has been implemented several times before. Our latest foreign exchange price is announced every day on the large blackboard of the Lochá Bulk Trade Center. The merchants of the old mainland naturally complained, but they all expressed their understanding and acceptance. After all, they also know that many of the coins they have on hand are of disparity, and they are also happy to reserve coins of various denominations issued by our bureau. At present, in some provinces and regions in southwestern France, such as Gascone, Provence, Languedoc, etc.; Siena, Livona, Parma in Italy; Livonia

In the Ottoman Empire, as well as the Smyrna, Suez and Burgas regions, the coins minted by our bureau have begun to circulate in the market to varying degrees. Moreover, considering the law of bad coins driving out good coins, judging from the circulation of these currencies in the market, there must be a considerable amount of currencies stored by locals at home, so our currency is still very popular in foreign countries." Hai Dafu was very proud when he said this. The coins minted by his home were largely reserved by foreign merchants, which is always a very exciting thing.

"The Dayuhe Mint started construction day and night 24 hours a day and night, and continuously produced coins of various denominations. The total production in recent years is probably not as large as 70 million yuan, but the domestic currency stock is very small. This shows that there are many 'yuan's' scattered in foreign countries. But this is a good thing. Who doesn't like it? The total amount of 70 million yuan of coins is levied and the seigniorage tax is nearly one million yuan. Even if it is spread evenly, it earns about 100,000 yuan of income for the finance department every year. Haha, okay, very good, sit down.

The family can also collect 100,000 yuan a year, and this money is well made." Qiang Quansheng was also a little overjoyed when he heard this, and he continued to say: "This is the result of our persistence in minting high-quality currency for more than ten years, which is of course very related to our advantageous trade products. In short, this is the result of our joint efforts of the financial and industrial sectors across the country. We must continue to maintain it in the future. Look at those European countries, because of their short-sighted fiscal policies, they have ruined the credibility of their own currency. In the long run, the losses are huge and worth it."

"Yes, Director, you are right." Hai Dafu flattered, and then said: "Recently, the Mint applied for renewal of equipment and used new coin minting technology to increase the difficulty of others imitating our currency. Now that the 'yuan' is so popular, there may not be many bad elements secretly minting some counterfeit coins of insufficient quality. These people are often abroad, and it is difficult for us to effectively attack them, so the Mint decided to innovate the process to increase the difficulty and cost of counterfeiting these people."

"This is a good thing." Qiang Quansheng nodded immediately and said, "You ask them to report a detailed plan. If I think it is feasible, you will approve it immediately."
Chapter completed!