Chapter 296 Monetary Reform

In July of the third year of the Jianan era of Da Qian, Zhao Xiyao, the Prince of Nanyue, issued an edict announcing the adoption of a new type of currency.

The new currency was divided into copper, silver, and gold coins; one silver coin was worth one string of cash, and one gold coin was worth ten strings.

Simultaneously, the exchange of currency was announced, allowing anyone to go to the bank to exchange their original copper coins for the new ones.

Also announced was the complete abolition of various types of gold ingots that had been in use.

Those currently holding gold ingots could go to the bank for an exchange, where one tael of gold would be exchanged for one gold coin.

The exchange did not start as explosively as Gao Yuan had expected; it was clear that everyone was still in a wait-and-see mode.

Even the few who did exchange money only did so out of curiosity, swapping a small amount just to handle the new coins.

However, people soon discovered that the money they received when withdrawing from the bank was all new currency.

Furthermore, when paying taxes or conducting business at government offices, they would only accept new currency. Gradually, more people began to exchange their money.

After more than a month, the progress of the exchange was far below expectations, leaving Gao Yuan feeling somewhat frustrated.

While finishing a meal that day, Zhao Xiyao noticed Gao Yuan putting down his chopsticks early and said with concern:

"Husband, these things must be done step by step; they cannot be rushed."

"Indeed, Husband. Look at you lately, only eating a pound of rice per meal; you've grown thin from hunger."

Gao Yuan gave a helpless smile.

"I'm fine, I just feel that my initial thoughts were a bit too idealistic."

Yang Xin had been busy with maritime trade lately and hadn't been paying attention to the issuance of the new currency.

Seeing Gao Yuan's furrowed brows now, she realized that things weren't going smoothly.

That evening in the bedroom, after their intimacy, Yang Xin spoke up to ease Gao Yuan's worries.

"Actually, you don't need to be anxious. Replacing old currency with new is a long process;"

"Even in the future, where everything is so advanced, it takes years or even decades to complete a currency exchange;"

"Let alone now, in this backward era of feudal dynasties;"

"You've just had it too easy before, so you start overthinking when things don't go smoothly."

Her words struck the heart of the matter, and Gao Yuan felt as if a light had suddenly been switched on.

"It truly was me being too idealistic. Before, whatever I wanted to do or whatever new policy I pushed through went perfectly."

"It's actually good for you to face a little cold reception, so you won't always be too idealistic in the future."

Yang Xin adjusted to a more comfortable position, her smooth skin rubbing against Gao Yuan, making his throat feel dry again.

However, Gao Yuan suppressed his impulse and listened in silence as she continued.

"I believe you've also noticed that many systems we found useful in the future might not be applicable here;"

"So we can't just blindly copy and apply those advanced experiences from the future;"

"Many things have the limitations of their era. We can only keep trying, groping in the dark, and adapting to formulate a suitable strategy for governing the country."

Gao Yuan was no fool; he had long since noticed these issues.

"To be honest, I once fantasized about establishing a parliamentary or republican system here."

"And the result?"

"The result was that it's completely unrealistic. In some backward areas, I doubt I could find even a few hundred literate people, let alone form a provincial assembly."

Yang Xin gave a sweet smile.

"Exactly. I've lived in Da Qian for so many years to finally understand that a centralized feudal system is the most compatible for this period;"

"Without the support of high enough productivity, those advanced systems from the future simply cannot survive."

"Yes, suitability is what matters most in everything."

Gao Yuan sighed, looked down at the delicate body in his arms, and could no longer restrain himself.

"Enough talk, words are useless now. Sleep, sleep, sleep!"

The next day, having cleared the gloom from his heart, Gao Yuan regained his vitality and continued his busy work.

Road construction projects resumed, and the government naturally used the new currency for all purchases and salary payments.

This significantly increased the circulation speed of the new currency, and the coin shortage in various regions was greatly alleviated.

As the government's bank account balance continued to decrease, Southern Yue's development returned to the fast track.

With sufficient tax revenue as support, Gao Yuan finally ordered the recruitment of troops and began forming the Imperial Guard Division.

Chen Dao drafted and recruited over ten thousand men from various regions in one go, mixing them with the Baier Soldiers.

Soon, the nightmare began for these recruits as they were subjected to the training standards of the Baier Soldiers every day.

Wearing over fifty catties of iron armor and carrying over ten catties of various weapons and equipment, they had to run ten li.

Many arrogant elites of the Xuanjia Army were worked to the point of vomiting on the very first day.

After three days, no one remained unconvinced; only heartfelt admiration was left.

"I always thought the Baier Soldiers just had good equipment, I never expected..."

"Yeah, wearing that iron armor and carrying all that gear, my legs felt like lead after running seven or eight li;"

"Who would have thought those Baier Soldiers could run fifteen li straight? It's truly incredible."

"No wonder they eat so much every day. I feel like my appetite has grown quite a bit after just a few days of training."

The high-intensity training quickly weeded out the vast majority, leaving fewer than four thousand men in the end.

While Gao Yuan was busy with the Western Expedition and internal reforms to promote development, a massive change was brewing within Da Qian.

In the Imperial Study, Xiao Yu was the first to propose his ideas.

"Your Majesty, I believe that given the current situation, the Sixteen Guards system is no longer appropriate."

Cui You also added fuel to the fire at the right moment.

"Indeed. Many soldiers in the Sixteen Guards are now elderly, and the Great Generals of each Guard harbor their own hidden agendas..."

If Xiao Yu's claim of inappropriateness wasn't enough for Zhao Changluo to understand, then Cui You's words completely struck a chord with The Emperor.

He had inherited everything left behind by The Emperor, including the soldiers of the Sixteen Guards.

To put it bluntly, these people had very little loyalty toward him.

Even if Zhao Changluo's goal was to be a "salted fish" emperor, what emperor wouldn't truly wish to hold the reins of power?

He nodded slightly and looked toward Xiao Yu and Cui You.

"How do my two ministers believe this should be changed?"

Xiao Yu, Cui You, and the others had long since agreed on a plan and were just waiting for The Emperor to ask.

Lu Hu, the Minister of War, stepped forward and proposed the plan.

"Your Majesty, we believe that the Thousand-Bull Guard and the Gate-Monitoring Guard can be completely abolished to form the Yulin Guard, which will report directly to Your Majesty;"

"Abolish the other twelve Guards and form frontier armies led by Military Governors, with supplies provided locally;"

"This will not only reduce the loss of grain and supplies during transport;"

"But also, with more troops stationed in each Circuit, they can better resist enemy forces and seize fleeting tactical opportunities."

As soon as he finished speaking, Zhu Xun of the Zhu family immediately stood up to second the motion.

Zhao Changluo thought for a moment, found it very reasonable, and immediately expressed his agreement.

Next, the Powerful Families each recommended or nominated someone, quickly carving up the positions of Military Governor and chief clerk for The two Jiangnan Circuits and the three Hebei Circuits.

Even the position of the new Great General of the Yulin Guard eventually fell into the hands of Yang Dingguo.

Although Yang Dingguo was someone left behind by The Emperor, he had long since defected to Xiao Yu.

Thus, while General Ma Zhiyuan, Song Ren, and others were all transferred to idle posts, he retained his position.

Furthermore, compared to before, his power as the Great General of the Yulin Guard was greater and his status more prominent.

Through this back-and-forth, these Powerful Families completely seized control of the military power in various regions.

Most of the soldiers who were originally skilled in battle were discharged; although the newly recruited soldiers were well-equipped, they lacked combat experience, and their fighting strength was worrisome.