Copper Coins and the Emperor's Wallet: The Role of Currency in Ming China

Sui-Wai Cheung (D. Phil., Oxford) is Professor of History at the Chinese University of Hong Kong. He has previously published The Price of Rice: Market Integration in Eighteenth-Century China (CEAS, Western Washington University, 2008) and Colonial Administration and Land Reform in East Asia (Routledge, 2017).

• List of Figures, Tables, and MapsMing Dynasty EmperorsMing Weights and MeasuresIntroduction: Currency and Taxation in Ming China, 1368–16441 How Precious Is a Precious Note? State Currency in the Early Ming, 1368–14351 The Value of Paper2 Managing an Empire Without Money2.1 Household Registration for Goods and Services2.2 Moving the Capital South2.3 Eunuchs: the Emperor’s Servants and Gatekeepers2.4 Labor Services and In-Kind Taxes2.5 The Lijia3 From Copper to Rice to Precious Notes4 Civil War, a New Capital, and a Surfeit of Precious Notes4.1 Moving the Capital to Beijing4.2 Precious Notes for Capital Officials4.3 Taking Precious Notes Out of Circulation: the Salt Tax and Crime Restitution Fees5 Reopening China to Trade5.1 The Treasure Fleet5.2 Building the New Capital in Beijing6 Retrieving Precious Notes: Commercial Fees and Charges7 Conclusion2 From Illegal to Official: Copper and Silver, 1400–14871 Recession, Piracy, and Foreign Trade2 Reopening China: Silver in the Market2.1 Feeding the Capital: Tribute Rice and the Grand Canal2.2 Commuting the Grain Tax: The Gold Floral Silver Reform2.3 Silver and the Precious Note3 Copper Coins in a “Filthy” Reign3.1 Government Taxes and Fees in Copper Cash4 Counterfeit Coins and Gresham’s Law5 Conclusion3 Household Registration, Foreign Trade, and the Emperor’s Table, 1444–15661 Maritime Merchants and Household Registration2 The Emperor’s Table3 The Emperor’s Coffers4 An End to Extravagance?5 Copper Coins as Income6 Prodigal Emperors6.1 The Zhengde Emperor (1505–1521): Extortion and Government Charges6.2 The Jiajing Emperor (1521–1566): Brass Coins7 Closing the Baoyuan Mint8 Conclusion4 Coins for the Government, 1567–16441 Coins for the Country and the People1.1 Coins for the Ministries1.2 Provincial Mints1.3 “Golden Backs” for the Taicang Treasury1.4 Renting Furnaces at the Nanjing Mint2 Back Into the Emperor’s Wallet3 Conclusion5 Conclusion: Small Change and State Administration in Ming ChinaWorks CitedGlossaryIndex