The Study Of Economic Laws On The Monetary Circulation In The Ming Dynasty

Due to the financial crisis along with the Ming dynasty from beginning to end, a lot of measures has been taken in the circulation field to solve the fiscal deficit. One of the important measures is to strengthen the legislation relevant to economy, for instance, the issue and management of the Ming paper money, the control of copper and the promotion of the legalization of silver currency. Based of the analysis of the circulation and legislation of the Ming paper money, copper and silver currency, this paper tries to disclose the significance of the policies and measures made by the government during the legalizing process of the silver currency.The paper is composed of introduction, body and conclusion.The introduction mainly explains the resources of this paper, summarizes the previous studies on the topic and states a few instructions. For the related study is rare, it is necessary to try and make further exploration.The body can be divided into four chapters. The first chapter paves the way for the following discussion, which describes the historical background, principles and forms of the economic legislation relevant to monetary circulation in the Ming Dynasty, and defines the scope of application and the mode of enforcement of the related laws. The second chapter first discusses the copper casting, material collection and the control legislation of private copper casting, then analyzes the reasons why the copper can’t be the main currency in circulation in the Ming Dynasty. The third chapter analyzes the historical reasons for the issue of the Ming paper money, and the related institutions and management, besides the legislation on its expenses and return. The fourth chapter discusses how the government promotes the legalizing process of the silver currency through balancing the financial silver step by step. The conclusion first presents the historical significance and influence of the economic and legal system in the monetary circulation, established in the Ming Dynasty where profound changes happened in the terms of economy, politics and social structure. Then it puts forward that the Government’s legislation should not disobey the objective laws of social development and the legalization on silver currency is a natural output of the highly developed economy. Finally, it concludes that government’s legislation can only promote the legalizing process of silver currency according to the objective laws of social development.The laws, related to the monetary circulation in the Ming Dynasty, can be grouped into two categories:direct legislation to intervene and indirect legislation to intervene. Direct legislation is fundamental, though which the indirect legislation can ultimately play a role. Therefore, to alleviate financial crisis, the Ming Dynasty should legislate laws on money circulation, which is the co-result of the intervention of the direct legislation and indirect legislation.