Chapter 130: Currency (3)

“Why do you always assume that money has to be made of metal?”

Mo Fangyuan felt that, although his grasp of economics was hardly impressive, he had at least been tempered by the “age of big data.” He knew a thing or two about economic systems capable of crushing those of the present age.

“I don’t understand economics, but I do know how to farm!”

“Currency is far too troublesome. I think we might as well continue bartering with goods!”

“Honestly, I don’t feel any pressure either…”

“It is better to rely on oneself than to beg others!”

After listening to the group ramble on for so long without hearing a single proposal that made his eyes light up, Mo Fangyuan finally slapped his forehead and decided to solve the problem himself. He would use his own mind to construct an economic system for the Cube Kingdom.

“Let me think…”

Human potential had no limits.

Combining his memories with something he had happened to read on Zhihu in his previous life, inspiration suddenly struck Mo Fangyuan. He came up with a brilliant solution. It was very simple: skip the era of metal currency altogether and advance directly to the more sophisticated age of paper money.

Mo Fangyuan knew only that paper money, also known as fiat currency, was essentially an “IOU” issued by the state. It was guaranteed by the state’s credit and enforced as the required medium of exchange.

Paper money itself possessed no value whatsoever. Yet, through the power of the state, it could fulfill the functions of money and serve as currency…

In short, paper money was not a commodity, yet it had value. The value it embodied was the coercive power of the state. The state’s authority transformed it into a symbol of money.

It also bound the currency to the regime that created it, making the two share both honor and disgrace.

“Your Majesty, can this really work?”

The officials voiced their doubts and concerns one after another.

“Who would willingly turn the fruits of their labor into a few pieces of… paper with hardly any practical use?”

“Your Majesty, you must think this through!”

“I believe the matter still requires further discussion…”

Apart from Lin Ye, everyone present was shocked when they heard that Mo Fangyuan intended to use paper as currency.

“Paper money…”

Lin Ye fell into thought. The lecherous king in the Trial Space had once created something similar, but Lin Ye had not visited the Trial Space in far too long and had no idea how the paper money had developed afterward.

“Your Majesty, please consider this carefully…”

Most of the people in the conference room were strongly opposed to this method of trade.

If the man announcing paper money had not been the king, someone might already have leaped to his feet and pointed at him, accusing him of treasonous schemes and sinister intentions.

“So the state’s participation is necessary. We must impose regulations to ensure that fiat currency can operate normally…”

Doubt toward paper money was only natural. No one could readily accept having the tangible goods in their hands transformed into ethereal sheets of paper whose usability remained uncertain.

Paper money had gone through the same process in his previous life. The inevitable laws of development would not change.

“Forcing the people to accept it will only have the opposite effect and provoke widespread, furious resistance!” Old Duan, the champion of democracy, retorted sharply. It was entirely consistent with his usual devotion to freedom and democracy.

“That is why we cannot rush the matter.”

Mo Fangyuan glanced at Old Duan before continuing.

“Now is the best possible time. We must seize the opportunity. The Cube Kingdom has a relatively small population, so promoting a paper-money reform will require less effort and will be easier to implement throughout the entire kingdom…”

“And compulsion is not the only path. There are also ways to make the people accept paper money willingly…”

Mo Fangyuan intended to tamper with the system of barter.

[Crafting Diagram: Leather Shoes]

[Crafting Diagram: Woolen Short Socks]

This was the method Mo Fangyuan had prepared.

“A crafting diagram?”

Everyone was bewildered. What did a crafting diagram have to do with reform?

Mo Fangyuan said nothing. He merely handed them a written plan.

[Step One: Widely publicize the benefits of leather shoes and woolen short socks throughout the Cube Kingdom, encouraging the people to purchase them.]

[Step Two: Temporarily reduce the amount of materials required to exchange for leather shoes and woolen short socks. Then impose a restriction: to obtain the shoes and socks, the materials must first be exchanged for paper money.]

[Step Three: Send a signal to the people that, in the future, all material exchanges will require the materials to be converted into a specific form of paper money before the exchange can be completed.]

[Step Four: As the people gradually grow accustomed to paper money, slowly convert the existing material-based exchanges into paper-money exchanges as well, accelerating the people’s adaptation.]

[Step Five: Once it has been confirmed that the people no longer resist paper money, change the form of payment for their work from materials to paper money, thereby completing the paper-money reform.]

Mo Fangyuan had designed this plan according to the principle of “boiling a frog in slowly heated water.” As far as he was concerned, it was the finest plan he had ever devised since birth.

“This… this…”

The plan was passed from one person who had read it to another who had not.

Every person who read it wore an expression of utter shock.

Had His Majesty really devised this? Incredible!

“This plan is absolutely flawless! I cannot find a single weakness in it!”

“No wonder His Majesty is a king overflowing with wisdom!”

A deputy minister of the Ministry of Internal Affairs voiced what everyone present was thinking. At the same time, another question arose in their minds.

“If His Majesty already had such an independent and perfect plan, why did he summon us here?”

They all wanted to know, yet no one dared to ask.

As though he had heard their unspoken thoughts, Mo Fangyuan continued slowly.

“I hereby announce that, effective immediately, we will establish a Ministry of Finance dedicated to managing all matters related to the economy and currency. It will be directly subordinate to the King’s Office and personally administered by me!”

He habitually tapped on the table once more before finally announcing the end of the meeting.

One hour later…

“Damn it! I forgot to discuss with them what the paper money should look like and what it should be called…”

“…Forget it. In that case, I’ll handle it myself!”

Inside the King’s Office, Mo Fangyuan slapped his forehead and covered his face.

“Ah, there have really been far too many things to deal with lately. I can’t keep up with them all! I’m always forgetting one thing or another.”

Mo Fangyuan seemed to have become just like Qin. Every day, he was either handling documents or receiving more documents that needed to be handled.

“The denominations can follow the decimal system used by the currency in my previous life… No, that won’t do. We’ll use one, five, ten, and twenty instead…”

“As for the name of the currency… we’ll call it the Renminbi…”

“And the portrait on the front… I’ve made so many contributions to the Cube Kingdom. There’s nothing wrong with using my portrait, is there?”

With only a few words, Mo Fangyuan established the basic framework of the Renminbi.

Late at night, the pure moonlight pierced through the clouds and gazed serenely upon the tiny earth below.

Zombies, skeletons, spiders… Countless monsters came back to life. Howling and roaring, they charged toward the nearest Cube Folk village, bringing disaster and suffering to its inhabitants…

And then they were all frozen to death.

“Colleagues, keep it up! We have only two days left! In two days, our program will be presented to the entire population! We absolutely cannot allow even the slightest mistake!”

The Ministry of Civil Affairs remained brightly lit. Rehearsals proceeded under intense pressure. Whether they had volunteered to participate or had been urgently reassigned, everyone was giving it their full concentration.