Generals of the Great Song Dynasty.

Summary

As April arrived in Bashu, the introduction of new paper money heightened tensions. Wang Ning An successfully dismantled counterfeit operations and enforced strict regulations on bookstores and mulberry bark flow. This led to the disappearance of counterfeit money and the launch of new paper currency, exchanged at a favorable rate. The Royal Bank opened new branches, offering loans at a low interest rate, which became popular among farmers who previously faced exorbitant rates from landlords. The new paper money circulated quickly, with merchants eager to exchange their old notes for the new ones, despite skepticism from some about Wang Ning An's intentions. Xiao Guan Yin, involved in banking, recognized the Royal Bank's potential for economic data collection, which outpaced the imperial court's insights. However, concerns arose regarding the potential for manipulation of the currency market, particularly by the Jiang family, who began buying up copper coins to undermine the new paper money's value. As the Jiang family's actions intensified, a black market emerged, allowing ordinary people to profit from exchanging new paper money for copper coins. This situation led to a rush at the Royal Bank, mirroring the chaos of previous currency disputes.

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