Qin Wang Finance: Power, Policy, and Economic Control

Qin Wang, or King Zheng of Qin, later known as Qin Shi Huang, ascended the throne of the Qin state in 246 BCE and subsequently unified China in 221 BCE, establishing the Qin Dynasty. His reign, though relatively short (221-210 BCE), witnessed significant economic reforms and policies aimed at consolidating power and standardizing the nascent empire.

A cornerstone of Qin economic policy was the **standardization of currency**. Prior to unification, various regions utilized different forms of money, hindering trade and communication. Qin Shi Huang adopted the *ban liang* coin, a round coin with a square hole, as the national currency. This single currency facilitated commerce across the empire, reducing transaction costs and promoting economic integration. This move also centralized control, as the minting of currency was solely controlled by the central government, denying regional authorities independent economic power.

Another significant policy was the **standardization of weights and measures**. Just like currency, regional variations in units of measurement created confusion and hampered trade. Qin Shi Huang mandated a uniform system, making it easier to assess value and conduct business across the empire. This standardization greatly improved efficiency in agriculture, manufacturing, and commerce, supporting the empire’s overall economic growth.

The Qin dynasty also implemented **strict agricultural policies**. The state encouraged agricultural production through incentives and, in some cases, forced labor. Farmers were viewed as crucial to the state’s stability, as agricultural surplus provided food for the army and supported public works projects. Land was redistributed, and taxation was based on land ownership, further strengthening central control over resources. The construction of irrigation projects, such as the Ling Canal, played a vital role in boosting agricultural productivity by expanding arable land and facilitating water transport.

Furthermore, the Qin regime invested heavily in **infrastructure projects**, including roads and defensive walls. The extensive road network, notably the ‘straight roads’ (直道), facilitated the movement of troops, supplies, and merchants across the vast empire. The most famous infrastructural feat was the construction and linking of existing walls into the Great Wall, a massive undertaking that required significant labor and resources but provided crucial defense against nomadic incursions. While beneficial in the long run, these projects placed considerable strain on the populace through corvée labor and taxation.

While the Qin Dynasty fostered economic growth and unification, its policies were often implemented with harshness and disregard for individual liberties. The heavy taxation, forced labor, and strict control over trade fueled resentment and ultimately contributed to the dynasty’s rapid downfall. Nevertheless, the Qin’s economic reforms laid a foundation for subsequent dynasties by establishing a standardized currency, weights, and measures, paving the way for a more unified and prosperous China.