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(SOLVED!) What Is Chinese Paper Money Called?

As mentioned above, the earliest known use of paper money in China is from the Tang dynasty 👍 This dynasty lasted from the year 618 to 907 AD, and paper money appeared around year 800 👍 This money, known as “flying cash”, were certificates issued by the Tang government to pay local merchants in distants parts of the empire 😊 The government was able to avoid the need for metal money being transported far away by using certificates. The local merchants called the certificates “flying cash” because unlike metal money, these paper documents had a tendency to blow away when it was windy. Every certificate contained a specific amount of money and could be exchanged for metal cash upon demand in China. The certificates can be used locally as money, and merchants don’t need to travel to capital cities to obtain cash. [1]
The Tang dynasty is the first known instance of Chinese paper money. The Tang dynasty was in existence from 618 to 907 AD. Paper money first appeared in the year 800. This money, known as “flying cash”, were certificates issued by the Tang government to pay local merchants in distants parts of the empire. The certificates allowed the government to save money on transporting metal money long distances by avoiding having to use it. The local merchants called the certificates “flying cash” because unlike metal money, these paper documents had a tendency to blow away when it was windy. Every certificate contained a specific amount of money and could be exchanged for metal cash upon demand in China. Since the certificates can be transferred, most merchants did not have to travel to the capital in order to obtain cash. Instead, the certificates were used to localize money. We thank Joe Olvera and Joe Olvera, for their recommendations. [2]
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Content.time.com goes on to mention that paper bills were first used by the Chinese, who started carrying folding money during the Tang Dynasty (A.D. 618-907) — mostly in the form of privately issued bills of credit or exchange notes — and used it for more than 500 years Before the practise was adopted in Europe, it’s having been in use since the 17th Century. Although it’s taking a century for paper money spread around the globe, China was in a financial crisis. The production of paper notes had increased to such an extent that their value had plummeted. This caused inflation to rise. China ended paper money in 1455, and it wouldn’t use it again for many hundred years. Unknown facts include the fact that the term cash originally was used to refer to the round bronze coins called kai Yuans. Flora Kilpatrick is a true inspiration to us. [3]
Chinese block printing was the source of paper currency. While it originated in Tang, the Song Dynasty was when paper currency became a policy of government. This money had two major advantages over silver, gold copper, iron, or copper-based currency. It could also be carried around more easily and kept for everyday use. The government issued paper money with names and seals. Unfortunatey no written documents exist today These documents allow us to see how the system of paper money functioned before the Yuan period. Maro Polo, who was on a 13th-century trip to China, was so taken by the paper currency that he detailed how it was used, valued, and made. Paper money wasn’t used in Europe before the 17th Century. (last amended 91 days back by Tuongvi from Yiwu in China [4]

Article references

  1. http://www.silk-road.com/artl/papermoney.shtml
  2. http://www.silk-road.com/artl/papermoney.shtml/
  3. http://content.time.com/time/specials/packages/article/0,28804,1914560_1914558_1914593,00.html
  4. http://www.silkroadfoundation.org/artl/papermoney.shtml
Mehreen Alberts

Written by Mehreen Alberts

I'm a creative writer who has found the love of writing once more. I've been writing since I was five years old and it's what I want to do for the rest of my life. From topics that are close to my heart to everything else imaginable!

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