How many Baochao notes the bank printed was no secret, nor was there any need to hide it.
After all, banks were not impregnable fortresses. Whenever major news broke, those who ought to know would learn of it, while those who ought not to know could not. And even if they did learn, they would not dare spread it around.
Exactly how much New Baochao had been issued, how much was circulating on the market, and how much had been recalled were all critical fiscal data for Great Ming. Naturally, such information could not be freely disseminated. Anyone who spread it recklessly would lose their head.
These were regulations on banknotes jointly drafted and issued by Wang Yan with the various government offices. Given Wang Yan's character, even if Xu Jie leaked the news, Wang Yan would have dared to chop Xu Jie down.
But this additional printing of one million strings of Baochao would certainly have little impact. If word got out, then so be it.
The problem was that malicious people spread rumors throughout Shuntian Prefecture, claiming that once so many Baochao were issued, the old notes would become worthless. What did ordinary people know about such things? No matter how much faith they had in Wang Yan, they could not withstand people rushing to exchange their notes for copper cash. Once they began talking among themselves, panic spread, and soon they were making a run on the banks.
Wang Yan had to personally stand at the entrances to the banks, explaining matters to commoners who had come to exchange notes for copper cash or withdraw deposits. Notices were posted, and people were specifically sent to banks across Shuntian Prefecture to explain the relationship between additional issuance and depreciation, as well as where this one million strings of