The Reform of Salt Banknote System under the Influence of the Northern Song Dynasty's Water Transport of Grain
The Northern Song Dynasty combined water transport of grain with the Huai salt administration.Salt was transported and sold by water transport ships on their return trips and the revenue from salt sales subsidized the water transport of grain,forming a mutually beneficial relationship.However,the decline and reform of the salt administration in the Northern Song Dynasty were also due to the problems inherent in the water transportation itself.The disadvantaged situation of boatmen,corruption of transportation officials,and instability of waterway management of shipping led to the continuous theft of transported salt,declining operational resulting efficiency,insufficient salt transport volumes,widespread illegal salt trade,and low quality of official salt,which were long-standing unresolved problems.But the proposals for commercial trade were opposed by officials in the water transport of grain due to their financial interests.The salt banknote system reform initiated by Cai Jing at the end of the Northern Song Dynasty completely separated water transport of grain from the Huai salt administration.Although this led to further decline in water transport,it achieved fiscal revenue that was more satisfactory to the court than that from grain transport.This was because the salt banknote system removed officials from the transportation and salt sale,eliminating many of the grain transport system's drawbacks from directly affecting the merchants who now bore the profit and loss risk.Additionally,Cai Jing's administration made significant efforts to ensure smooth transportation and eliminate official interference in shipping,making the salt banknote system effective.This system was later adopted by subsequent dynasties from the Southern Song Dynasty to the Qing Dynasty,becoming the most mainstream salt policy and transportation system nationwide.
Water Transport of Grain in the Northern Song DynastyHuai SaltSalt Banknote SystemBureaucratic CorruptionCai Jing
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