명대 통화 정책 연구- 동전과 사주전을 중심으로 -

홍성화 고려대학교 역사연구소 2015 사총 Vol.86 No.-

Although fiscal policy in early Ming Dynasty based on spot goods, the issue of the currency is inevitable for government. It was hard to issue the currency massively due to the inflexible fiscal policy in Ming Dynasty. So they had chosen ‘Baochao(寶鈔)’ which costs less comparatively as the currency. But ‘Baochao(寶鈔)’ was vulnerable to excessive issue with less values in possession and could not function as the currency as time went by. The Ming Dynasty also acknowledged the issue of ‘privately issued coins(私錢)’ seriously. As officials also suggested proposals through merchandised order, inducing 鋪行 into system is outstanding but the most striking thing is that they suggested to let it go in private currency market unlike the current common sense and prefer less discussion on ‘monetary regime(錢法)’ in the government, regarding the discussions on ‘monetary regime(錢法)’ as a troubleshooter for public attention of people. Even though providing enough제전 would be desirable, it was difficult with finance situation in Ming Dynasty. In terms of this, it could not help issuing different coins in various qualities with diverse financial conditions. It means that ‘government issued coins(制錢)’ could not guarantee a good quality of coins. For example, Chongzen Tongbao(崇禎通寶) with mixed kinds in quality separately seemed not that good coins to use. Meanwhile ‘privately issued coins(私錢)’ had almost same quality of government issued coin. Like this, as issue of coins in Ming Dynasty was not enough, most commercial transaction happened inside through silver greatly contributed to increasing the flexibility of commercial transaction. That is, incorporation into silver-economy had a lot of side effects. As silver was handy, wealth in a region moved to another region easily, entailing imbalance between regions and classes. In other words, the mobility of silver had been maximizing and gap between the rich and the poor had deepened in the late Ming Dynasty. Further to this, not going smoothly of silver-flux in Chongzhen reign caused serious social issues. 명초의 재정정책이 아무리 현물 위주라고는 하지만 화폐 발행은 정부로서도 필수불가결한 일이었다. 명조의 재정정책은 그 규모가 비탄력적이었기 때문에 경화(硬貨)를 대량으로 발행하는 것이 쉽지 않았다. 그래서 이들은 발행 비용이 상대적으로 적은 ‘보초(寶鈔)’를 선택하여 통화로서 공급하려고 하였다. 그러나 보초는 그만큼 소재가치가 낮고 남발되기 쉬운 약점을 지니고 있었고, 시간이 지나면서 화폐로서의 기능을 잃게 되었다. 홍치년간 이후 동전 발행이 활발해졌지만, 그 목적은 시장에 良貨를 공급한다는 차원에서가 아니라 주초 차익을 도모하는 것이었고, 이 점은 장거정 집권기를 제외하고는 그 뒤에 줄곧 이런 경향은 유지되었다. 특히 天啓・崇禎年間에는 遼餉으로 인하여 재정 위기가 점증되자, 악화를 발행하는 경향이 더욱 강해졌다. 이처럼 명조의 동전 발행은 충분하지 않았기 때문에, 대부분의 상거래는 銀으로 밖에는 이루어지지 않았고 이러한 현실이 상거래의 유동성을 증대시키는 커다란 원인이 되었다. 이러한 점에서 볼 때, 명말의 은량 사용의 증대는 실제로 악화의 남발 속에서 이루어진 부득이한 측면이 있다고 할 수 있다. 따라서 16세기 중엽 이후 ‘銀經濟’로의 편입을 단순히 사회경제사적인 발전이나 도약으로만 파악할 수 없다. 이렇게 광범위하게 사용된 銀은 휴대와 운반에 용이하였기 때문에, 한 지역의 부가 손쉽게 다른 지역으로 운반됨으로써 지역간 내지 계층간의 소득 불균형을 초래하였다. 다시 말하자면 명말에 은의 유동성이 극대화되자, 이는 빈부 격차의 심화라는 현상을 가져왔으며, 이에 더하여 해외에서 은유입이 순조롭지 않게 되자 명조 멸망의 한 원인으로 작용하였던 것이다.

명대 통화 정책 연구 -동전과 사주전을 중심으로-

홍성화 ( Sunghwa Hong ) 고려대학교 역사연구소 2015 사총 Vol.86 No.-

Although fiscal policy in early Ming Dynasty based on spot goods, the issue of the currency is inevitable for government. It was hard to issue the currency massively due to the inflexible fiscal policy in Ming Dynasty. So they had chosen ‘Baochao(寶抄)’ which costs less comparatively as the currency. But ‘Baochao(寶抄)’ was vulnerable to excessive issue with less values in possession and could not function as the currency as time went by. The Ming Dynasty also acknowledged the issue of ‘privately issued coins(私 錢)’ seriously. As officials also suggested proposals through merchandised order, inducing ‘Pu-hang(鋪行)’ into system is outstanding but the most striking thing is that they suggested to let it go in private currency market unlike the current common sense and prefer less discussion on ‘monetary regime(錢法)’ in the government, regarding the discussions on ‘monetary regime(錢法)’ as a troubleshooter for public attention of people. Even though providing enough ‘government issued coins(制錢)’ would be desirable, it was difficult with finance situation in Ming Dynasty. In terms of this, it could not help issuing different coins in various qualities with diverse financial conditions. It means that ‘government issued coins(制錢)’ could not guarantee a good quality of coins. For example, Chongzen Tongbao(崇禎通寶) with mixed kinds in quality separately seemed not that good coins to use. Meanwhile ‘privately issued coins(私錢)’ had almost same quality of government issued coin. Like this, as issue of coins in Ming Dynasty was not enough, most commercial transaction happened inside through silver greatly contributed to increasing the flexibility of commercial transaction. That is, incorporation into silver-economy had a lot of side effects. As silver was handy, wealth in a region moved to another region easily, entailing imbalance between regions and classes. In other words, the mobility of silver had been maximizing and gap between the rich and the poor had deepened in the late Ming Dynasty. Further to this, not going smoothly of silver-flux in Chongzhen reign caused serious social issues.

18세기(世紀) 중국(中國) 강남지역(江南地域)의 화폐사용관행(貨幣使用慣行)

홍성화 명청사학회 2011 명청사연구 Vol.0 No.36

18世紀江南地區的貨幣市場中曾存在過,包括銅錢、銀兩、錢票、洋銀在內的很多種貨幣。而且這些貨幣也沒有統一,它們又可細分爲很多種。因此,這些貨幣之間産生了競爭關係,在不同時期它們的重要性也隨之發生了改變。 明代以來,隨著西洋銀的流入,中國和日本漸漸被拖入到了世界經濟體制當中。淸朝的海禁令阻止了銀的流入,隨之中國社會中出現了“穀賤現象”。在這種背景下,銀不但成爲了一般等价物,而且在高額商品的交換中,人們也漸漸把銀作爲支付手段使用了。但是,乾隆初期,這種現象發生了一定的改變。在江南地區的商品交換中,銅錢又成爲了主要的貨幣。甚至在土地買賣的過程中,也出現了使用銅錢的現象。在高額商品的交換中,銀一直被視爲主要的貨幣,但是銀有著很大缺陷,卽,它的價値很難被評估,銀在信用體系中具有‘信息不對稱(Asymmetric Information)’。針對銀的這種缺陷,淸朝又開始發行了大量的銅錢,從而作爲一般貨物的交換手段。市場中出現了很多小額商品的交換,而銀作爲高額面値,很難適應這種新的變化了。 應該說,淸代的貨幣市場中存在著很多種貨幣。私自鑄造的銅錢也與政府正式發行的“制錢”一同流通於商場當中了。因此市場選擇那種貨幣,不是取決於是不是政府發行的,而是取決於它是否具有充實的價値。洋銀自由流通於中國市場的現象,就能說明一切。應該說,淸朝時期很多種貨幣都可以自由融入到中國的市場中,信用度越高的貨幣也漸漸占據了市場。中國市場中出現了不同於‘格雷欣法則’的現象。 如上所述,淸朝社會中,比起作爲高額貨幣以及對外貿易支付手段的銀兩,具有小額面値的銅錢更加頻繁地使用於小民的商品交換中。政府更加重視了銅錢的發行和流通,隨之銀也就受到了冷落,鴉片戰爭之前的中國社會中,重商主義的觀點也就沒有登場了。

淸代 지역 간 화폐 불균형과 私鑄錢 유통

박찬근 명청사학회 2025 명청사연구 Vol.- No.63

During the Qing dynasty, the court minted official copper coins (制錢) both to provide an everyday medium of exchange for the people and to reinforce the legitimacy of the ruling house. However, because the minting system was concentrated in the capital (京師) and could not meet the broad demand for coinage in the provinces, various unofficial coins—such as older issues (舊錢), foreign coins (外國錢), and privately minted coins (私鑄錢)—came to be widely circulated. Although the Qing government tried to facilitate the smooth distribution of its official coins (often viewed as emblems of dynastic legitimacy) by attempting to recall private or small-denomination coinage from the populace, this effort proved unsuccessful. For ordinary people with limited resources, these non-official coins were both valuable assets and essential means of daily transactions, rendering such recall measures ineffective. Despite the Qing authorities’ strict prohibition against damaging official coinage, as well as the production and distribution of privately minted coins, and their imposition of punishments varying according to the severity of each crime, these actions did not fundamentally resolve the underlying imbalance between soaring demand and inadequate supply of copper coins. In fact, reports of private minting emerged frequently throughout the empire, revealing that privately minted coins often acted as a type of auxiliary currency driven by grassroots needs. The rich copper (銅) and lead (鉛) resources in Yunnan and Guizhou provided ideal conditions for large-scale production of low-quality coins by illicit minting groups, who then sold these coins to other regions. In these areas, privately minted coins became a commoditized product that was funneled into the Jiangnan area via water-based transport routes, causing ripple effects on coin values that extended well beyond any single locality. This phenomenon underscores the dynamic nature of currency in the Qing period, transcending the rigid dichotomy between silver circulating interregionally and copper coins supposedly confined to specific localities. From this perspective, the nation-wide rise in the silver-to-copper exchange rate in the early 19th century cannot be attributed solely to the outflow or inflow of silver tied to foreign trade; rather, the large-scale movement of privately minted coins and their interplay with the overall circulation of silver must also be taken into account.

당 후기 경제 현안의 부상과 형벌 체계의 변화

金珍 중국고중세사학회 2015 중국고중세사연구 Vol.36 No.-

조선후기 私鑄律의 제정과 민의 私鑄 실태

유승희(Yoo, Seung-hee) 한국법사학회 2024 법사학연구 Vol.69 No.-

淸代 前中期 화폐유통량 문제

홍성화(Hong, Sung-Hwa) 부산경남사학회 2021 역사와 경계 Vol.121 No.-

It can be seen that Franks silver inflow figures cited in the introduction are actually overly exaggerated. In addition, the inflow was 240 million tale, and the inflow of pure silver before the first Opium War was 250 million tale, which was almost the same amount. Looking at the change in regional share, trade with Japan plunged from 54% in the early-middle Qing dynasty to 12%, the share of Galéon trade increased from 23% to 44%, and the share of trade with Europe increased from 4% to 21%. In other words, East Asian trade, including Japan, was the center at the end of the Ming Dynasty, but the proportion with Europe increased much more in Qing Dynasty. Unlike Ming Dynasty, Qing Dynasty placed great importance on issuing coins and made great efforts to keep the ratio of silver and coins constant. The issuance was also about twice as large as the inflow of silver. In the late Ming Dynasty, in contrast to the huge inflow of silver, only a relatively small amount of coins were circulated, which led to social liquidity, while the economic policy of Qing Dynasty focused on the stable supply of coins. Although there were twists and turns such as Great Clearance(遷界令), coins were supplied relatively stably, which became the driving force behind the development of not only urban areas but also local rural market towns.