Chapter 699 About Currency

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With anxiety and a hint of curiosity, Maggie was led by Rebecca to the large building called the "Magic Technology Research Institute".

It is said that this is the highest research center for Cecil's magic technology.

It is said that most of the magical devices that can exert great power and effect, and were called "perfect runes that luck can't explain" by the members of the former Royal Capital Mage Association, were born in this research center and in its affiliated facilities.

Maggie visited the South with Victoria, but she didn't have the opportunity to visit this temple of technology at that time, but today she was invited here and became a member of a great project, which has to be said to be a kind of The wonderful arrangement of fate, driven by strong curiosity, Maggie couldn't help but look at everything in sight: everything here is extraordinarily new to her.

The Magical Technology Research Institute is not as opulent and luxurious as the Royal Capital Mage Association she is familiar with (that is the closest facility to the temple in front of her in nature), but this building is several stories high The large-scale building has its own unique beauty and solemnity. It consists of a main building and three annexes. The foundation of the main building is supported by neatly arranged columns, and the top of the annexes has three concise and powerful words:

Curious; rigorous; persistent.

This may explain part of the attitude of Cecil scholars towards research.

"These three words were proposed by Master Carmel. It is said that they were the rules that the scholars of the Gondor Empire abide by. The ancestors thought it was very reasonable, so let us hang these three words in the building of the research institute. On top," Rebecca said happily beside him, "be curious about the world, discover the unknown in curiosity; be rigorous in the face of the unknown, find the direction of research in the rigorous; persevere in research, and verify the results in persistence... …”

With a light tone and a smile on her face, the imperial princess finally had the opportunity to ditch the long court dresses that looked gorgeous but immobilized, and put on a simple dress that was easy to move. Maggie found her leaving. After Silver Castle came to this research facility, it was really happy.

This "Her Royal Highness" belongs here.

With a smile on her face, Maggie followed the chattering Rebecca and walked into the mysterious building with a group of men and women working in the institute.

Stepping into the door, the first thing that catches your eye is a spacious and bright hall, illuminated by magic spar lamps, corridors and stairs leading to different parts of the research institute, and the most eye-catching in the hall. , which is a statue in the center.

That wasn't any hero or god Maggie knew,

Nor is it the current emperor of the Cecil Empire, that is just a middle-aged man with a plain-looking appearance, wearing a simple robe, holding a thin little girl, they are standing in this temple of knowledge and technology The center is illuminated by a special magic spar light. The man's gaze is gentle and calm, as if he is watching everyone who walks in here, and every magician or rune master who enters the institute will also come first. Go to the statue and bow deeply before leaving.

Maggie looked at the statue in surprise and couldn't help asking, "Who are they?"

"It's the founder of modern magic technology and his daughter Annie." Rebecca restrained all her laughter and said with the serious expression that Maggie saw for the first time, and then she also came to the statue, deeply bowed in greeting.

Maggie was a little overwhelmed, but she also saluted, and then she saw the words on the pedestal under the statue: To the pioneers.

"He doesn't have a name?" Maggie asked, surprised and curious.

"No... We only know that he is a wild mage, and he may have stayed in the Wangdu Mage Association," Rebecca said regretfully, "but we searched all the information of the Wangdu Mage Association, and we couldn't find this wild mage. The name of the mage... He may just be the assistant of a certain great magician, or his name may have been completely erased by the association. You know, in the traditional mage circle, it is very serious to break away from one's own inheritance, and the name will be changed from all and the mages of Saint Sunil died in the battle of the city by nearly a quarter, and perhaps the last person who knew his real name died on the city walls."

Maggie didn't know what to say for a while, but Rebecca had smiled again, she smiled brightly, facing the man in the statue: "But it doesn't matter, his creation has not been forgotten, as long as we continue to work hard , the 'Magic Web' will be remembered by all."

Maggie was stunned, but her eyes were deep in thought, while Rebecca had already stepped forward and walked towards the stairs not far away: "Follow up, follow up, I have to introduce you to a lot of people... "

...

In the city center, on the square in front of the "Lord's Mansion", a group of sentries guarded the avenue leading to the mansion. Several workers were busy beside the checkpoint in front of the intersection of the avenue.

With the help of a hoist, a short and stout worker reached the upper end of the metal lamp post where the street sign was hung, and with the help of the magic terminal, he removed several rivets that fixed the sign. The metal sign of "Lord Cecil's Mansion" was handed to the colleague next to him.

A new sign was brought over, mounted on the steel skeleton flanking the lamppost, with brand new words: Palace of Cecil.

Beside the lamppost where the street sign was hung, a magician looked up at the words on the sign, and couldn't help shaking his head and said, "This is really a concise and clear name..."

"His Majesty always likes to be concise and clear when naming names. The car driven by the magic power is called the magic car, the energy track made of steel is called the railway, and the tower that can broadcast the signal is called the broadcasting tower." The instructor laughed, "I'm used to it anyway."

"Then you explain what the electricity in the 'magic capacitor' means..."

"This is your fault!!"

...

"Ancestor, the new road signs and map changes have been completed," Hetty reported to Gao Wenhui in the study, "The news about the renaming of the Cecil Lord's Mansion to 'Cecil Palace' will soon appear in the near future. newspapers and radio programmes.”

"That's good," Gawain sighed, then shook his head with a smile, "It's a little embarrassing to say, I almost forgot this detail before... I only remembered this place after seeing the sign of the 'Lord's Mansion'. The name of the mansion must be changed, but fortunately the preparatory committee of the Political Office still remembers this matter.”

"Considering all the details is the basic work of the preparatory committee, and your precious energy is to be devoted to bigger things," Hetty said earnestly, "but then again... 'Cecil Palace' The name is really uncharacteristic."

Gawain glanced at Heidi incredulously.

This "grand consul" has always been a calm and serious person, but in the absence of outsiders, he will occasionally become a junior who opens his heart to his ancestors and makes fun of him. In addition to cheating holidays with various schemes, Looking for opportunities to complain about some new terms created by Gao Wen and stalks that no one can understand is also one of her few hobbies. Gao Wen is familiar with this, but sometimes he is helpless.

"I can't think of another name - I can't put a layer of silver foil on the outside of our house and call it 'New Silver Castle'," he smiled and shook his head, "The name is just It’s enough for people to understand what it means at once, even if it doesn’t sound special at first, after a few years everyone will be familiar with it and take it for granted.”

"Actually, there's nothing wrong with Cecil Palace," Hetty's mouth curled slightly, "but Gordon mentioned a point at the meeting the day before yesterday-does this 'palace' need to be expanded, or simply rebuilt? Although it is still It's enough, but as a palace, its size is really out of proportion..."

Gawain shook his head: "No need, you also said that this mansion is still enough, and there is no need to expand it. Its scale is already very large in my opinion, the area is no less than that of a small castle, and it is It is still very new, if it is rebuilt just for the sake of style, it is a waste of precious financial resources and manpower - so many cities and roads in the Holy Spirit Plain have not been rebuilt."

"You would say that," Hetty said helplessly, "but as far as an empire is concerned, the palace of the royal family is not only a place to live, but also a functional facility for the royal family's office and for the operation of part of the government's functions. A symbol that shows the strength and majesty of a country, that's something you have to consider too."

This time, Gawain thought about it for a while, and said slowly while thinking: "What you said makes sense. With the expansion of the Supreme Government Affairs Office and the reorganization of the institutions that manage the operation of the empire, some offices will be transferred here... …But it is not something that will be implemented immediately, and even if it is implemented, it will not immediately exceed the capacity of the mansion. The expansion can be planned in advance, but the specific implementation should wait, at least until we don’t have to. I'm worried about the food for so many people in the Holy Spirit Plain."

Heidi lowered his head: "Yes, I understand, ancestor."

Gao Wen snorted, and then said: "How is the progress of the 'new currency promotion' led by Patrick?"

"In several places, the pilot project was relatively smooth. Relying on the call of the Government Affairs Office and the sufficient prestige you brought, the public can accept the proper use of 'paper money' as a voucher for daily transactions, but most people have not completely abandoned the traditional Metal currency, but only regard paper currency as a convenient supplement, and according to the results of the investigation and visit, some small businessmen regard 'paper currency' as a special 'contract certificate'..."

Gao Wen raised his eyebrows: "Contract certificate?"

"Yes, like proof of loan or proof of exchange for gold and silver, they think paper money is evidence of wealth issued by a 'bank', and every paper money is an IOU, which can buy things because the IOU can ultimately To exchange gold and silver from the bank..."

Listening to Heidi's words, Gawain couldn't help but sighed slightly: "...In the end, we are still facing this stage."

"Does 'this stage' refer to the use of money?" Hetty asked curiously. "What's wrong with it?"

"Yes, it is the substitute currency, the plan that Patrick is trying. Each banknote corresponds to the verified gold and silver, and the total amount of currency in circulation depends on the amount of precious metals in the bank's reserves... Simple and clear currency rules, but also have The shortcomings of simplicity and clarity," Gawain explained earnestly in the face of the curious Hetty, "the biggest hidden danger is that the factory will multiply the total amount of social wealth, but the mining and production speed of gold and silver is limited. There will also be a limit to the amount of money that can be used in circulation, and the scale of investment and trade will be limited by the amount of money that banks can issue...and ultimately a contradiction.

"When the contradiction between the total amount of social wealth and the amount of currency issuance intensifies to a certain extent, there may be two consequences, either development stagnates, the industry enters a cold winter, and the economy begins to shrink - because social development is 'if you don't advance, you will retreat' ; or banks are forced to over-issue tokens of the nature of debt, no matter what form these debts take—special currency or bonds, they will cause the value of currency in circulation in society to far exceed the value of reserve precious metals.

"Once this situation starts, it will not stop. After it deteriorates to a certain extent, as long as there is a little unrest in the society, and the people want to exchange the substitute currency in their hands for gold and silver, our economy will face a disaster... Because the whole The gold and silver reserves in the banking system have long been unable to keep up with the total value of wealth produced by industry, let alone the amount of banknotes in the hands of the people, and cannot be converted into modern currency, and the most powerful empire will collapse overnight."

Gawain's explanation was as simple and easy to understand as possible, and Hetty was not a stupid person. Having been in contact with various New Deals for so long, she understood the principle of the whole process almost immediately, and her face was instantly ugly. : She realized it was a near-unsolvable trap.

As long as the population is increasing and people's living needs are improving, society must continue to develop, and as long as factories are operating, the speed of social development will far exceed the growth rate of precious metals such as gold and silver, which can be directly exchanged for fixed amounts of gold and silver. Paper money" will certainly not keep pace with the increase in social wealth.

As long as this contradiction emerges and accumulates to a certain stage, development stagnation-regression and currency over-issue must be chosen.

No matter which one you choose, it will mean disaster.

However, if currency reform is not implemented at all...the same will face the trap of stagnation of development, which is also a disaster in this world that is not peaceful and stable.

"Patrick looked frowning when he reported these things to me," Hetty said slowly, frowning. "He said that when he deduced currency circulation, he vaguely felt that there was a very fatal problem, but He couldn't find it...could it be this trap that he noticed?"

"He actually noticed it?" Gawain opened his eyes in astonishment, but quickly returned to calm and naturalness, "It's also... These laws were originally summed up by people..."

"This 'trap' is too terrifying," Hetty said with lingering fears, "isn't there a way to solve it?"

"There is another form of currency...but it's hard to say which is worse," Gawain said, frowning and shaking his head slowly, "but very few things in the world are perfect, especially man-made things. In short, we are still in the stage of collecting data and social verification. Let Patrick complete the pilot acceptance of this phase first. At the same time, we will also wait for Daniel to collect further information on the currency reform of Typhon. After all the information is gathered, we will Discuss what to do next."

After the battle of Changfeng Defense Line, Gao Wen now has no psychological burden to cross the river by touching Typhon. It is said that the bank has already entered the application stage of banknotes, and the valuable social experimental data cannot be missed.