Ch. 343The drawbacks
Liu Heng’s proposal to reclaim coin-minting authority from private hands sparked a fierce court debate. He convened leading scholars to hear the policy’s drawbacks, and the discussion continued as an opponent of the Huang-Lao argument prepared to respond.
- A minor official urged Liu Heng to end private coinage, prompting ministers to argue and even come to blows before Luo Jing silenced them with a bronze hammer.
- Liu Heng adjourned court and reviewed the memorials, explaining to Luo Jing that he wanted to hear objections even though he had decided the Court should reclaim coinage authority.
- The debate spread among the schools of thought, with Huang-Lao scholars opposing the change and most Legalists supporting it.
- At a meeting in Changle Palace, a Huang-Lao Erudite argued that private coinage had produced high-quality coins and that centralized minting would revive counterfeiting and force the people to accept inferior currency.
- Liu Heng considered the Erudite’s case, and another speaker prepared to oppose it from a different angle.