រាជវង្សហាន: Economy

Economy

Variations in currency
thumb|A wushu (五銖) coin issued during the reign of Emperor Wu (r. 141–87 BC), 25.5 mm in diameter

The Han dynasty inherited the ban liang coin type from the Qin. In the beginning of the Han, Emperor Gaozu closed the government mint in favor of private minting of coins. This decision was reversed in 186 BC by his widow Grand Empress Dowager Lü Zhi (d. 180 BC), who abolished private minting.Nishijima (1986), 586. In 182 BC, Lü Zhi issued a bronze coin that was much lighter in weight than previous coins. This caused widespread inflation that was not reduced until 175 BC when Emperor Wen allowed private minters to manufacture coins that were precisely 2.6 g (0.09 oz) in weight.

In 144 BC Emperor Jing abolished private minting in favor of central-government and commandery-level minting; he also introduced a new coin.Nishijima (1986), 586–587. Emperor Wu introduced another in 120 BC, but a year later he abandoned the ban liangs entirely in favor of the wushu (五銖) coin, weighing 3.2 g (0.11 oz).Nishijima (1986), 587. The wushu became China's standard coin until the Tang dynasty (618–907 AD). Its use was interrupted briefly by several new currencies introduced during Wang Mang's regime until it was reinstated in 40 AD by Emperor Guangwu.Ebrey (1986), 609; Bielenstein (1986), 232–233; Nishijima (1986), 587–588.

Since commandery-issued coins were often of inferior quality and lighter weight, the central government closed commandery mints and monopolized the issue of coinage in 113 BC. This Central government issuance of coinage was overseen by the Superintendent of Waterways and Parks, this duty being transferred to the Minister of Finance during Eastern Han.Nishijima (1986), 587–588; Bielenstein (1980), 47, 83.

Taxation and property
Aside from the landowner's land tax paid in a portion of their crop yield, the poll tax and property taxes were paid in coin cash.Nishijima (1986), 600–601. The annual poll tax rate for adult men and women was 120 coins and 20 coins for minors. Merchants were required to pay a higher rate of 240 coins.Nishijima (1986), 598. The poll tax stimulated a money economy that necessitated the minting of over 28,000,000,000 coins from 118 BC to 5 AD, an average of 220,000,000 coins a year.Nishijima (1986), 588.

ការចរាចរយ៉ាងទូលំទូលាយនៃសាច់ប្រាក់កាក់បានអនុញ្ញាតឱ្យឈ្មួញជោគជ័យវិនិយោគប្រាក់លើដី ផ្តល់សិទ្ធិអំណាចដល់វណ្ណៈសង្គមដែលរដ្ឋាភិបាលប៉ុនប៉ងបង្ក្រាបតាមរយៈពន្ធពាណិជ្ជកម្ម និងអចលនទ្រព្យដ៏ធ្ងន់ធ្ងរ។Nishijima (1986), 601. អធិរាជ វូ ថែមទាំងបានអនុម័តច្បាប់ដែលហាមឃាត់ឈ្មួញដែលបានចុះបញ្ជីមិនឲ្យកាន់កាប់ដី ប៉ុន្តែឈ្មួញដែលមានអំណាចអាចជៀសវាងការចុះបញ្ជី និងកាន់កាប់ដីធំៗបាន។Nishijima (1986), 577; Ch'ü (1972), 113–114.

The small landowner-cultivators formed the majority of the Han tax base; this revenue was threatened during the latter half of Eastern Han when many peasants fell into debt and were forced to work as farming tenants for wealthy landlords.Nishijima (1986), 558–601; Ebrey (1974), 173 174; Ebrey (1999), 74–75. The Han government enacted reforms in order to keep small landowner-cultivators out of debt and on their own farms. These reforms included reducing taxes, temporary remissions of taxes, granting loans and providing landless peasants temporary lodging and work in agricultural colonies until they could recover from their debts.Ebrey (1999), 75; Ebrey (1986), 619–621.

In 168 BC, the land tax rate was reduced from one-fifteenth of a farming household's crop yield to one-thirtieth,Loewe (1986), 149–150; Nishijima (1986), 596–598. and later to a one-hundredth of a crop yield for the last decades of the dynasty. The consequent loss of government revenue was compensated for by increasing property taxes.Nishijima (1986), 596–598.

The labor tax took the form of conscripted labor for one month per year, which was imposed upon male commoners aged fifteen to fifty-six. This could be avoided in Eastern Han with a commutable tax, since hired labor became more popular.Nishijima (1986), 599; de Crespigny (2007), 564–565.

Private manufacture and government monopolies
thumb|A Han-dynasty iron Ji (halberd) and iron dagger

In the early Western Han, a wealthy salt or iron industrialist, whether a semi-autonomous king or wealthy merchant, could boast funds that rivaled the imperial treasury and amass a peasant workforce of over a thousand. This kept many peasants away from their farms and denied the government a significant portion of its land tax revenue.Needham (1986c), 22; Nishijima (1986), 583–584. To eliminate the influence of such private entrepreneurs, Emperor Wu nationalized the salt and iron industries in 117 BC and allowed many of the former industrialists to become officials administering the monopolies.Nishijima (1986), 584; Wagner (2001), 1–2; Hinsch (2002), 21–22. By Eastern Han times, the central government monopolies were repealed in favor of production by commandery and county administrations, as well as private businessmen.Nishijima (1986), 584; Wagner (2001), 15–17.

Liquor was another profitable private industry nationalized by the central government in 98 BC. However, this was repealed in 81 BC and a property tax rate of two coins for every 0.2 L (0.05 gallons) was levied for those who traded it privately.Nishijima (1986), 600; Wagner (2001), 13–14. By 110 BC Emperor Wu also interfered with the profitable trade in grain when he eliminated speculation by selling government-stored grain at a lower price than demanded by merchants.Ebrey (1999), 75. Apart from Emperor Ming's creation of a short-lived Office for Price Adjustment and Stabilization, which was abolished in 68 AD, central-government price control regulations were largely absent during the Eastern Han.de Crespigny (2007), 605.