We often see silver taels used as money units in costume dramas, so how much is one tael of silver? I also wanted to know, so I checked online and got a preliminary answer. However, I would like to state here that the author is not a student of history. I am just using the historical articles I found online to make a rough calculation and gain a perceptual understanding.

Basic Units

There were many monetary units in ancient my country, which were different in each dynasty, especially before the Qin and Han Dynasties. Only three basic units are discussed here:

One penny (i.e. a standard copper coin with a square hole)

One tael of silver

One tael of gold

Although the above units are different in each dynasty and generation, at least they are not very different after the Tang and Song Dynasties, so relatively stable and credible data can be obtained.

Exchange relationship

The exchange ratio between copper coins, silver and gold is like the current foreign exchange price. It changes frequently and is not as clear as 1 yuan equal to 100 cents.

According to the following description:

“The ratio of gold and silver rose from 1:8 around 1600 to 1:10 in the middle and late 20th century, and doubled by the end of the 18th century. times, reaching 1:20."

It can be seen that 1 tael of gold can be exchanged for approximately 8 to 11 taels of silver.

Moreover:

"In the early years of Daoguang, one tael of silver was exchanged for a sling, which was equivalent to a thousand coins; by the time of the Opium War in Daoguang's 20th year, one tael of silver was enough. The price of silver has soared since the Xianfeng period, and one tael of silver can be exchanged for as much as 2,2300 coins."

Under normal circumstances. , 1 tael of silver can be exchanged for approximately 1,000 to 1,500 copper coins. In ancient times, 1 Guan Qian or 1 Diao Qian was usually referred to as 1,000 Wen.

Metal prices

Since money itself made of gold, silver and copper has value, and theoretically the value of money should be equal to the price of the metal, so we can use the current price of the metal To answer the question "How much is one tael of silver?"

The Kaiyuan Tongbaotong coins of the Tang Dynasty each weighed 8 cents in diameter, 10 coins weighed 1 tael, and a thousand coins weighed 6 catties and 4 taels. During the Shunzhi period of the Qing Dynasty, each copper coin weighed one cent, two cents and five cents, and later When the price is increased to four cents per penny, each thousand wen weighs eight catties and twelve taels. Although the weight unit of "liang" in ancient times was different, it was about 40 grams, while "jin" was about 700 grams. The average weight of each copper coin is 5 grams.

The current prices of gold, silver and copper (RMB) are as follows:

Gold: 100 yuan/g

Silver: 2 yuan/g

Brass: 0.02 yuan/gram

The calculation result is:

1 tael of gold: worth about 4,000 yuan

1 tael of silver: worth about 80 yuan< /p>

1 copper coin (1 Wen coin): worth about 0.1 yuan

Grain prices

Many historical monographs use grain prices to directly measure currency relations. Although considering food prices alone is not very accurate and objective, it should be an extremely important reference. Xiaolin found the following record on the Internet:

“The upper white rice (stone) costs nine cents and five cents?

The middle white rice (stone) costs nine cents, two cents and six cents and eight cents?

White rice (stone) for eight cents and three cents?

White rice (pound) for nine cents

Silver can be exchanged for one thousand cents for every two taels."

Also

"According to the records of the Military Aircraft Department of the Qing Dynasty, the grain prices in Shuntian Prefecture, Daming Prefecture, and Xuanhua Prefecture of Zhili Province in the first half of the 15th year of Guangxu were calculated based on the three types of grains: millet, sorghum, and corn. The average silver price per warehouse is one tael, four cents and six cents."

Based on the calculation of 1 stone = 100 jins = 70 kilograms, and the grain price is calculated as 2 yuan/kg, the following average value can be obtained: < /p>

1 tael of silver: worth about 170 yuan

1 copper coin (1 copper coin): worth about 0.2 yuan

Conclusion

Based on the above calculation, and considering that

1 the price of gold is more stable than others, we should focus on the reference

2. Now that silver has been used as an industrial product, the current silver price reference value Lower

3 Due to the relatively rapid development of agricultural technology, the relative price of food now is much cheaper than in ancient times

4 Respect the ancient exchange ratio

5 Rounding up the whole number is convenient for conversion and establishing perceptual understanding

Therefore, the author recommends that when encountering ancient monetary units in the future, the following conversion system is used, which is both convenient and sensible:

1 Liang Gold = RMB 2,000 = 10 taels of silver

1 tael of silver = RMB 200 = 1,000 Wenqian = 1 guan (hanging) money

1 Wenqian = RMB 0.2 yuan

In addition: 1 stone meter = 1 tael of silver

Disclaimer: The above conclusion is not an academic point of view, it is only used for conversion purposes when ordinary people watch costume TV series and martial arts novels.

Verification

The following provides some ancient data to verify the conversion method given by Xiaolin and improve perceptual understanding:

The monthly salary of the ninth-grade official in the Tang Dynasty was 5 shi meters = In the Tang Dynasty, the monthly salary of junior civil servants was 1,000 yuan;

The annual salary of a sixth-grade official in the Qing Dynasty was 45 taels of silver = the annual salary of a bureau-level cadre in the Qing Dynasty was 9,000 yuan;

In three years of clearing the prefecture, one hundred thousand snowflakes Silver = Those who are officials, don’t have tens of millions in their families?

In the early years of Qianlong's reign, it cost 13,120 taels of silver to donate a Taoist platform = you can buy a department-level cadre Dangdang for 2.7 million, with a clearly marked price.

The weights and measures system in ancient China was extremely chaotic. There are differences between different dynasties, and there are differences between different regions of the same dynasty. This is an indisputable fact.

The weights and measures system of the Qing Dynasty was mainly the "Kuping Construction System", which was basically the same as that of the Ming Dynasty. One pound is approximately equal to 600 grams (a little over 597 grams) in the international standard. This system of weights and measures still has remnants in Hong Kong, Singapore and other places. For example, the measurement units of gold in Hong Kong, Singapore and other places, "Liang" and "Qian", are the measurement units made by Kuping. One "liang" is equivalent to 37.5 grams in the international standard system, and one "money" is equivalent to 3.75 grams in the international standard system.

In the 1930s, the Nanjing government carried out weights and measures reforms in order to integrate with international standards, unify China's weights and measures system, solve the obstacles to economic development caused by differences in weights and measures between different regions, and promote economic development. In order to meet the customary needs of the broad masses of the people, the "Kuping Construction System" was reformed into the "Municipal System". In order to be in line with international standards, the "Municipal System" was conveniently converted to the international standard system. The "one construction ruler" is changed to "one city ruler", which is equal to 33.33 centimeters = 0.3 meters; one kilometer is equal to two municipal miles. "One warehouse per catty" is changed to "one market catty" which equals 500 grams = 0.5 kilograms.

"One liter" = one "liter". Therefore, this reform of weights and measures is also called the "one, two, and three system." The "market system" and the "Kuping construction system" are similar in measurement and easy for the people to accept. The conversion between the municipal system and the metric system is simple and acceptable for international trade. It is commonly known as "jin is shorter and chi is longer", that is, the market jin weighs less than the Kuping system, and the market chi is longer than the construction system.

This reform of weights and measures can be called a success. It laid a good foundation for the subsequent reform of the weights and measures system and is still playing its basic role today.

Another major reform during the Republic of China was the currency reform.

A major move in the currency system reform during the Beiyang government period was the "abolition of the two currencies and the reform of the Yuan". At the end of the Qing Dynasty, although China also had silver coins, the currency system was based on silver taels, and coinage (including copper coins and copper yuan) was the main circulating auxiliary currency. Currency units are quite confusing. There are both Kuping liang as the unit and customs liang as the unit. At the same time, the fineness of silver coins and silver coins is also extremely inconsistent. This chaotic currency system has greatly hindered the normal conduct of economic activities. As a result, there was the first currency reform: "abolition of the two currencies and the reform of the yuan". That is, the Beiyang government promulgated the "National Currency Regulations", which stipulated that the silver dollar should be used as the basic monetary unit and the circulation of silver taels was stopped. One silver dollar weighs seven cents and two cents, and its silver content is 85\%. One yuan is equal to twelve cents (imitation of the British system). Use copper yuan as the auxiliary currency to stop the circulation of copper coins. The price ratio between one silver dollar and copper dollar basically fluctuates between 180 and 188. Commonly known as "the ocean is long and the ocean is short". Every day, the silver house or bank will publish the silver price for the day. When the silver price rises, it is called "Ocean Long", and when the silver price falls, it is called "Ocean Short". Private small-amount transactions are basically priced in copper dollars. Banks issue banknotes in units of yuan, and one yuan of banknotes is exchanged for one silver dollar. The currency was based on silver.

This currency reform has basically unified the country’s financial system. But many issues remain unresolved.

Another currency reform was carried out by the Nanjing government to solve the financial crisis. In the 1930s, the U.S. currency abandoned the silver standard and implemented the gold standard, which stipulated that 1 ounce of gold was equal to 35 US dollars. At the same time, the purchase of silver in the international market (London) caused the price of silver to rise in the international market. China's monetary system is based on silver, but it does not produce much silver. The rise in silver prices in the international market has caused a large outflow of Chinese silver. In particular, the Japanese imperialists have engaged in armed smuggling in Northeast and North China, causing a large outflow of Chinese silver. At the same time, the rise in silver prices has caused China's currency to appreciate, imports to surge and exports to be blocked, affecting the economy and development of the international balance of payments. Without timely reforms, China's financial collapse will occur. The Nanjing government negotiated loan payments with the United Kingdom and the United States to provide foreign exchange guarantees for currency reform. Finally, it received strong support from the United States (see "Sino-US Silver Negotiations" for details). As a result, the Nanjing government decided to carry out currency reform, stop the circulation of silver dollars, and use banknotes issued by the Central Bank, Bank of China, Bank of Communications, and Agricultural Bank of China (later added) as legal tender for transactions and grain taxes. Fiat currency is pegged to the British pound and the U.S. dollar.

Nowadays, when I watch TV dramas, I often feel ridiculous. The ancients could easily use dozens, even hundreds, thousands, or tens of thousands of taels of silver. What's more, they can often take out banknotes worth hundreds or even thousands of taels from their pockets.

There are two misunderstandings here. One is that one tael of silver in ancient times was equivalent to one yuan today. The second is that ancient banknotes are today’s banknotes or checks.

In fact, China was short of silver in ancient times and its value was very high.

One tael of silver is equivalent to more than 1,200 wen (before the early Qing Dynasty) to more than 3,000 wen (after Daoguang in the Qing Dynasty). Until the end of the Qing Dynasty, a pound of pork (equivalent to 1.2 city pounds) only cost 20 cents, and an acre of fertile land only cost 7 to 80 taels of silver or 12 or 3 silver dollars. A few taels of silver or dozens of taels of silver is a big deal. A hundred taels of silver is today's big money, and you can buy more than ten acres of fertile land. In the Ming Dynasty, a commoner only needed one and a half taels of silver for a year's living, so Qi Jiguang's soldiers received only three cents of silver a day, less than one tael a month. It was slightly more expensive in the Qing Dynasty, mainly due to the large foreign trade surplus before the Opium War and the decline in silver prices after the large inflow of silver. Later, after large amounts of compensation were paid, the price ratio between silver and copper rose again. Common people usually use copper coins. In the late Qing Dynasty, copper coins were used, and silver was rarely used for daily transactions. Many ordinary people have never seen silver until their death. Therefore, when expressing lack of money (poverty) in spoken language, "no copper coins (tiny coins)" are used instead of "no silver coins". This is one of the reasons why people often regard silver as precious.

By the time of the Republic of China, silver dollars were in circulation and were called national currency. It is known as "Yuan Datou" among the people. Its value is also relatively high and can be exchanged for more than 180 copper dollars. Converted to today's purchasing power based on the price level at that time, one silver dollar is approximately equivalent to about 35 yuan of today's RMB. Taking into account the development of production and the decline in the prices of food and daily necessities, one silver dollar is approximately equivalent to about 100 yuan in today's RMB. If calculated based on the price of silver, it is approximately equivalent to about 50-60 yuan in today's RMB. At that time, the investment in setting up a relatively good printing and dyeing factory was less than 10,000 yuan. It cost about 1,000 yuan to buy a relatively good car at that time. Therefore, there will be no situation where you have to buy a steamed bun with a silver dollar, at most one copper plate.

The bank note is actually an exchange voucher issued by a Shanxi bank. It is a secret deposit and is not a bank note (banknote) that can be redeemed on sight. There are exchange fees for using banknotes.

Bank notes are useful for merchants who make large purchases. It avoids the risk of carrying large amounts of cash, is convenient, and costs about the same as carrying large amounts of cash yourself. Ordinary people and officials don't need it. Therefore, there will be no banknotes with denominations of hundreds or thousands of taels taken out of pockets to pay the money. Even if you take it out to pay, merchants and ordinary people will not accept it.

Its circulation level is worse than today’s personal checks