조선후기 상업의 발달과 화폐관의 변화 – 영조대 화폐논쟁을 중심으로 = Commercial Development and Changing Views of Currency in Late Joseon: Focusing on the Monetary Debates during King Yeongjo’s Reign

다국어 초록 (Multilingual Abstract)

The Joseon dynasty maintained a strong agrarian ideology that condemned commerce and profit-seeking as moral evils. Based on this principle, the state operated a controlled economy, intervening directly in production and distribution through systems such as tribute (gongnap) and licensed markets (sijeon). Yet these institutions caused inefficiencies, including high transport costs and corruption through intermediary exploitation (bangnap). To address these issues, the state adopted currency as a means to streamline tax collection and trade. After the Imjin War, expanding markets and the issuance of the Sangpyeong Tongbo under King Sukjong accelerated monetary circulation, while the Daedong Law standardized rice-based tax payments under public contractors (gongin).
The coexistence of the Daedong Law and the Sangpyeong Tongbo system reflected the government’s effort to reconcile commercial growth with its enduring agrarian ideology. Currency circulation increased, but fiscal strain, social burdens, and periodic coin shortages (jeonhwang) persisted. Conservative officials denounced money as a source of inequality, while reformers emphasized its economic utility and advocated for commercial promotion.
The monetary debates during King Yeongjo’s reign (1727~1735) epitomized this ideological tension. Proponents such as Hong Chi-jung and Lee Bong-sang viewed coinage as essential for trade expansion, while Yeongjo and others feared its disruptive impact on the agrarian and social order. Despite repeated bans on coin-based tax payments (Sunmoknyeong), currency circulation could not be reversed. Subsequent failures of alternative systems ultimately led Yeongjo to reinstate coin issuance(jujeon) and move gradually toward a monetized tax system.