"God! All the goods have been loaded onto the ship, and it will set sail in an hour." Malik's adjutant, Mizar, quickly rode to Jiuding Bank.
Zhu Wencong immediately showed a delighted expression; all the gold he had seized in Japan would soon be transported to America, well-prepped for the establishment of the gold standard in the future.
Japan wanted support from Jiuding Bank, and to obtain it, they had to pay tribute with vast amounts of gold. However, in this era, gold didn't serve much practical use.
Silver circulated more widely in the market, followed by copper coins. Precious metals like gold were generally hoarded selectively.
The Ming Dynasty faced a silver scarcity mainly due to people stockpiling silver, which led to its severe shortage in the market.
The global gold shortage followed a similar pattern. Furthermore, gold wasn't abundant, and very few people used it for transactions.
