I I48 NOTES TO CHAPTER 25in 1698. While part of this reduction may have been caused by stricter export controls
in Japan, a large part had to have been the product of King Sukchong's ban on further
minting. Ibid., p. 274.- Yu Won dong, Han 'guk ktindae kyongjesa yon 'gu [Studies in the recent economic
history of Korea] (Seoul: Ilchisa, 1977), pp. 214-24. Kang Man'gil mentioned two pri-
vate slaves steering two ships back from P'yong'an Province to thc capital with a load
of salt in 17 I 0 who were driven by a storm to China. He speculated that they were either
merchants themselves or in the employ of private Han River merchants in the capital.
Kang Man'gil, Choson hugi sangop chabon iii paltal [The development of commercial
capital in the late Choson period] (Seoul: Koryo taehakkyo ch'ulp'anbu, 1973), p. 70. - Kang Man'gil, Choson hugi sangc)p chabon iii s6ngjang: Kyongsijon Songsangdiing
ui Toga sangob'ut chungsimuro [Thc growth of commercial capital in late Choson: Whole-
saling by the licensed monopolies in the capital and the merchants of KaesongJ,
Han' gllk.l'll y6n' gu I (Septembcr I968):80-87; Kang, Chosiin Izugi sang '/51' chabon iii
pallal, pp. 168-75. - Won Yuhan, "Sukchong sidae iii chujon," pp. 662-63: Chang Kukchong, "Sipp'al
segi iii longhwa chujo wa chonhwang munje" [The minting of copper cash and the prob-
lem of the shortage in the money supply in the eighteenth century], Yliksa kwahak I
(19 6 3):4I,49· - Won Yuhan, "Sukchong sidae iii chujon," pp. 664-65; MHBG 159:14a; SJW
30:622c-d, Yunjong 2 (Kyongjong 4).2.9 (kycch'uk). - The above remarks combine statements Yongjo made on two occasions: PBSDN
7:726-7, Yongjo 1.8.8; ibid., 7:764-65, Yongjo, I. I 0.6; MHBG 159: I4a-b; Won Yuhan,
"Sukchong sidae iIi chujon," p. 55: Han'guk iinhaeng, Chiingbo Han'guk hwap'yesa
[Thc revised edition of the history of currency in Korea] (Seoul: Han'guk iinhaeng, 1969),
PP·49-5^0.
- PBSDN 8:68d-72b, Yongjo 3.5.1 I; Won Yuh an, "Sippal segi e issoso iii hwap'ye
chongch'aek: tongjon iii chujo sajop chungsi" [Currency policy in the eighteenth cen-
tury: The minting of coppcr cash], Sahak yon'gll 19 (April I967):56. - PBSDN 8: 129d, Yongjo 3.9.21; Won Yuhan, "Sippal segi," p. 56.
- Yongjo .1 iI/ok l:nb. Yongjo 3.9.iirchuk; Won Yuhan. "Sippal segi." p. 57.
- Other officials,who opposed abolishing cash included the following. Yu Man-
jung, fourth minister of the Ministry of War, agreed that cash corrupted mores and stim-
ulated thievery, but nothing better could be found to take its place, and the king had no
choice but to mint more of it. So Myongyon, the third minister of the Ministry of Tax-
ation, merely affirmed the general view that even though Yongjo's desire was to abol-
ish cash, another medium of exchange would produce consequences as difficult as the
present troubles. - James B. Palais, Politics and Policy in Traditional Korea (Cambridge: Harvard
University Press, I975), p. 107. - Or 400 percent highcr than the 200 coins/yang of silver rate of 1679 and Yu
Hyongwtin's recommended rate of about r670. - This recommendation would have cut 2 yang and 2p 'il from the tax rate, and would
only make sense Cor those taxpayers who owed 3 p'i! per person.