My British Empire

Chapter 377: new currency

??Chapter 377 New Currency

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??Jews can only take advantage of, cannot believe too much, and cannot entrust things.

??Of course, as long as you change your beliefs and try to integrate into England, you can still believe a little bit, such as Adler Todd in front of you.

?? "Like you, all Jews must convert to the state religion if they wish to continue living in England, or—"

?? Having said this, Edward obviously felt that Adler's body was shaking more and more.

?? "Otherwise, let them go! Go to a place that doesn't care about their beliefs!"

?? "Yes, Your Majesty, I will explain it to them in detail, please rest assured!"

??Adler let go of his heart hanging in mid-air, and promised.

?? "By the way, if you convert, your wife and children must convert. Otherwise, you can go back wherever you came from!"

The leisurely voice of His Majesty the King was heard next to his ear, which made Adler's heart tighten. It reminded him of the fact that his wife and children were also forced to convert. time.

?? "Yes, Your Majesty!" Adler agreed in a deep voice.

?? "Dong dong dong—" There was a knock on the door.

?? "Come in—" Edward said casually.

?? "Your Majesty, the Governor of the Central Bank, Sir John George, has arrived!" A young secretary in the secretarial group said in a crisp voice, wearing a decent skirt.

?? "Let him in!"

Immediately afterwards, a gentle and elegant middle-aged man walked in. He was wearing decent and elegant clothes, with a **** and thick beard on his chin and lips. Glasses.

??His hair is black, his eyes are light blue, and he looks like a housekeeper, looking very reassuring.

?? "This is Sir John George, the Governor of the Central Bank!" Edward introduced to Adler, and then introduced Adler again:

?? "This is Adler Todd, the governor of the Royal Bank of England!"

?? "Hello, Sir John, nice to meet you!" Adler held out his hand to him with a smile on his face.

?? "Hello, Mr. Todd, I hope we can have a happy cooperation in the future!"

??Sir George (Originally, Sir George was called a Sir by title, but there are too many people called John, so let’s change it!) He responded calmly, with a smile on his face.

??John George is the candidate recommended by the government, and he is also a well-known banker in London, known for his prudence.

?? Regarding this, the young king thought for a moment before agreeing.

?? After all, the central bank is still dominated by the government, and it is itself an institution that regulates banks and issues currency. It is more appropriate to focus on a stable person.

??The king can't stretch his hand too far. The independent operation of the central government still needs to be maintained, otherwise it will not be easy to take the blame.

?? After seeing the two shaking hands with each other, Edward sat up, and it was time to talk about business.

??The two bigwigs in the banking industry straightened their backs, staring at His Majesty the King, waiting for his speech.

??"Since the former king issued the new pound, although the finances have been improved very well, the consequences have been somewhat serious!"

??Edward looked at the two of them, and then said lightly.

??Hearing this, Sir George and Adler couldn't stop talking in their hearts.

?? "It's a little serious, I'm afraid you're too embarrassed to say it!"

??After Henry VIII came to the throne, he used troops against France and Scotland year after year, which not only consumed the million pounds left by Henry VII, but even consumed a lot of dividends from the Reformation.

?? So, Henry VIII turned his brains to currency.

??In 1544, Henry VIII halved the silver content of silver coins, and imported a large amount of precious metals from the Americas, increasing the money supply of England as a whole.

?? This is also commonly known as inflation.

??The money in people's hands is becoming less and less valuable, and those local gentry went bankrupt because of their loans.

??The farmers and civilians had a more difficult life, and the economy of England was in a mess.

??Inflation intensified, and those nobles and big landowners were worried about their assets shrinking, so they wantonly encircled land to ensure that their wealth would not be easily lost.

??In fact, Edward, like ordinary people, attributed the enclosure movement to the greed of nobles and landlords, as well as the development of commerce, which made nobles and big landlords thirsty for land for reproduction.

??However, a while ago, the Minister of Agriculture and Commerce came to report that the local land enclosure movement was still going on, and there were more and more violations of government orders, and farmers continued to go bankrupt and leave their homes.

?? In addition, the chancellor reported to him that the fiscal revenue in the first half of this year was the same as that of the same period last year, and the growth was negligible.

?? Logically speaking, with the continuous development of business in the past few years, the tax should be more and more. How can it be equal?

??At this time, Edward noticed that there was a problem with the currency.

?? Currency is the cause of the intensified enclosure movement in England and the slow growth of fiscal revenue.

??As long as the currency factor is still there, then the land enclosure movement will never stop, and bankrupt farmers have a high chance of rioting and uprising, endangering his rule.

??So, the purpose of calling these two people today is to reissue the currency, that is to say, to issue a new silver coin to eliminate the silver coins with very little silver content currently in use on the market.

?? It stands to reason that the issuance of currency should be a matter of the central bank, and has nothing to do with the Royal Bank of England.

??However, the central bank has a short preparation time and cannot spread its tentacles throughout England, Scotland, Wales, and the island of Ireland.

??At this time, the Royal Bank of England, the largest bank in the British Isles, comes in handy.

??Relying on the huge branch system, most of the silver coins circulating in the market can be recycled, so that new coins can be circulated.

?? "The central bank is ready to issue a new type of currency to replace the currency currently circulating in England!" Edward commanded in a deep voice.

?? "Does it include pounds, shillings, and pence?" Sir George was a little surprised when he heard this. He didn't understand why the young king started to reform the currency on a whim.

?? "Then, according to what model?" Sir George then asked.

?? "Restore shillings and pence to pre-1544 standards, and increase the gold content of the pound by 2.5 percent!"

??Edward said without hesitation.

In fact, in the past few decades, the advent of the age of great voyages has caused many countries to face the troubles of inflation. Not only the value of silver coins, but also the value of gold coins has continued to decline. The timely increase of gold content is conducive to the circulation of the British pound throughout Europe. .

?? In this way, the pressure of inflation in England will be reduced a lot.

?? "And you, Todd, the Bank of England needs to help the central bank to exchange and recycle currency!"

?? "Yes, Your Majesty—"

??(end of this chapter)