After one month, the first batch of silver dollars that were ready to be put on the market were rushed out.

There are five categories of silver coins in this set, namely one yuan, five Jiao, two Jiao, and one Jiao. It also comes with a batch of copper coins, with only five cents and two categories.

Copper coins are naturally needed to buy small items or replace change in daily life for the people. Just as the Royal Bank does not issue paper money, it still issues banknotes of the same nature as silver notes, in order to facilitate the economic life of the Ming Dynasty.

However, this banknote represents at least 5,000 silver dollars in denomination, for bulk transactions, but in order to stabilize the value of banknotes, the number of banknotes is strictly limited. The Royal Bank has to save as much banknotes as it issues, so there is no need to worry that this will affect the lives of ordinary people.

According to Zhu Youxiao's arrangement, the first batch of currencies will be first used to pay salaries to officials and craftsmen in various national industries such as the Royal Academy of Sciences, the Ordnance Department and the Royal Academy of Engineering.

Secondly, some of them were deported to the Royal Bank to deal with the exchanges of the people.

In order to encourage the people to exchange silver dollars for economic activities, Zhu Youxiao has ordered major newspapers and magazines to spend a lot of space to promote the benefits of traditional currency and not directly using gold and silver as currency.

Although it is not necessarily guaranteed that the people can understand it, as long as the official keeps saying that three people become tigers, the public can subtly make the people think that this is a good thing.

What's more, at the same time, the Ministry of Revenue also directly issued notices at major newspapers and major city gates, and copied documents to local government offices at all levels. In the future, tax collection will only be cashiers.

But who knew that the news caused a stir when it was announced. Many people took it for granted that this was the court's strategy to make money. Some good people even threatened that the court was afraid of borrowing silver and copper coins to exchange for silver dollars to collect another sum of money.

As a result, few people exchanged the silver dollars stored at the Royal Bank at the beginning, and some even worried that the Royal Bank would use it to swallow their money.

Therefore, not only did many people not come to the Royal Bank to exchange silver dollars, but instead rushed to withdraw money with stubs.

"Mr. Li, you have to think that your 30,000 taels will be deposited for one year. According to the provisions in the document, you must not only withdraw on May 14 next year. Not only will you withdraw without interest, but you will also have to pay an additional penalty of 30 to withdraw one?"

Hu Shouchun explained patiently to a wealthy depositor, Mr. Li, but Mr. Li, waved his hand and said, "I know, it's just one thousand taels. I can afford it. I can't let the 29,000 taels be swallowed up."

"Okay, get 29,000 taels of silver for Mr. Li!"

When Hu Shouchun shouted, Mr. Li didn't expect it to be so smooth. He asked in surprise: "Can I really take it?"

"Yes," after Hu Shouchun answered without hesitation, Mr. Li was deeply afraid that this so-called bank that relied on the royal relationship would not admit the account and would not allow him to take it by himself. Now seeing that the Royal Bank had no intention of not admitting the account, he breathed a sigh of relief in his heart.

Other depositors who were watching outside were busy getting money when they saw this.

These depositors who came earlier because of interest rates of up to one tenth now all don’t have interest rates or even are willing to withdraw their deposits by taking down compensation. This makes people sigh at how low the creditworthiness of the people of the Ming Dynasty is for currencies other than gold and silver.

Because of this, the Royal Bank encountered the first bank run shortly after its establishment. Since part of the previous savings silver had been cast into silver dollars, part of which had been taken away by the commanders of various battalions as military pay, the Royal Bank was facing a tight monetary policy as soon as the bank run came.

Zhu Youxiao did not intend to force the people to deposit silver and withdraw it on involuntary premises, but he also had corresponding encouragement measures, that is, those who are willing to withdraw silver dollars can be exempted from liquidated damages.

In addition, it is also clearly stipulated that those who go to Royal Bank to exchange silver dollars within half a year will be exempted from handling fees, and those who exchange it after half a year will pay the handling fees.

But many people didn't listen, questioning that the court wanted to take the opportunity to swallow their money by issuing a large amount of silver coins.

Ordinary people are fine. Since the court wants to use silver dollars as tax, they have to exchange it, but some merchants are not willing to be exploited by the court in this way.

Some officials who could have taken the opportunity to privately change the proportion of copper coins through currency chaos and were greedy for the emergence of silver dollars, and hoped to force the court to take back the silver dollars in the furnace and refine them into silver ingots through this run, thus causing the court to abandon this currency reform.

However, Zhu Youxiao did not compromise. When Hu Shouchun reported that the Royal Bank was in a tight position, he urgently allocated the treasury to fill it.

Even the silver confiscated from Wei Guangwei's mansion and the silver accumulated by the Donglin Party in the past were used to deal with the bank run.

Gradually, the bank run began to subside. The officials, gentry and tycoons waiting behind the scenes did not expect that the Royal Bank was still conducting silver dollar exchange business, and at the same time, there were still a steady stream of silver.

Moreover, as Royal Bank fulfilled its contracts again and again and unconditionally handled withdrawals for depositors, many depositors began to trust Royal Bank.

Many businessmen or people with some savings began to deposit the money back into the Royal Bank, and this time the account opening increased by three or four times compared to before, but Royal Bank also came up with its own countermeasures.

That is, since it was opened before, there was a high interest rate of 20 or even 20 or 20 for the first three months, but now it has been cancelled, and the maximum interest rate has dropped to 30 and 1.

In other words, those who reopen an account can only choose regular savings of up to 30 or 1, and even have to pay a handling fee.

Many people complained and regretted that they believed in some rumors, so they couldn't wait to take out the money, but now they have spent a lot of extra money.

"Oh, I'm really losing money. This Royal Bank is the Royal Bank. It's worthy of being issued by the Emperor. It's naturally more reassuring than those ticket numbers. But I'm a man who is so confused. After hearing what Master Huang said, he was eager to take out the 30,000 taels. Now it's better. I thought I could earn 3,000 taels by relying on interest, but now I'm losing 1,000 taels!"

Mr. Li complained to Hu Shouchun, but Hu Shouchun still smiled and said, "I advised you at that time, but you didn't listen. The emperor is rich all over the world and will he swallow you only 30,000 taels of silver?"

"Mr. Hu, you are right. I am stupid!" Mr. Li said with a bowed face.

"Then will you save the fixed or current account this time? How long will it take?" Hu Shouchun asked.

Without thinking, Li Yuanwai shouted loudly: "Come on!" and said to Hu Shouchun: "I don't have the heart to go to the north to do business now. Now I have taken out all my savings at home, and I have a total of 100,000 taels, and deposited them for a period of three years!"

"real?"

"Really! I have to save the lost money back this time," Mr. Li said unwillingly.
Chapter completed!