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Paper money was first produced in China in 11th century when there was a metal shortage and the government didn't have enough gold, silver and copper to meet the demand for money. It wasn't long before the Chinese government was producing paper currency at a rate of four million sheets a year. By the 12th century paper money was used to finance a defense against the Mongols. Notes produced in 1209 that promised a pay holders with gold and silver were printed on perfumed paper made of silk. [Source: "The Discoverers" by Daniel Boorstin].
"Of this money, " Marco Polo wrote, "the Khan has such a quantity made that with it he could buy all the treasure in the world. With this currency he orders all payments to be made throughout every province and kingdom and region of his empire. And no one dares refuse it on pain of losing his life...I assure you, that all the peoples and populations who are subject to his rule are perfectly willing to accept these papers in payment, since wherever they go they pay in the same currency, whether for goods or for pearls or precious stones or gold or silver. With these pieces of paper they can buy anything and pay for anything...
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∙ 11y ago
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How can America end China's Currency Manipulation?
as stupid as it sounds... Stop using currancy and help credit evolve. If you stop using paper money, stop giving minerals value, and insted work for cridet (or merrit to sociaty) then currency (as in paper money) is usless..
Is money made out of paper?
Yes money is made from paper. But not the paper that they use for fake money. And coins are made from metal or copper....or even bronze. Money is made from paper.
What are the advantages of paper money?
Some of the advantages of paper money include: 1. paper money is less expensive to produce than coin money 2. paper money is not as heavy as coins, thus it is easier to transport or work with. Good luck with your homework kid!!
How is money made today?
today money is our of paper
If trees produce paper and money is made of paper cant money grow on trees?
Okay, money is not, in any real sense, "made of paper". Sure, it's printed on paper (though calling the substance money is printed on "paper" is a bit misleading, because there's actually a large amount of cotton present in that "paper". But, what makes money money is the fact that the government proclaims it to be "legal tender". So, in the only sense that matters, money is made out of government proclamation, not paper. Moreover, trees do not produce paper directly. They produce wood. Humans produce paper by processing the wood (and, in the case of the paper used to print money, cotton as well). And humans make money by printing numbers, words, and the pictures of dead Presidents on the paper. The biological processes going on inside a tree, complex as they are, cannot duplicate these human processes. So, "money", even if it was nothing more than the paper and ink that went into physically producing the bills, still could not grow on trees.
Who invented paper money in china?
the han dynasty invented the paper money
Was paper money used in china before adopted in the US?
yes because china made paper money first.
Which ancient culture invented paper and money?
The Ancient Chinese invented paper and money. Money was invented by the first king of China and paper was invented by a man in China by bamboo.
Where did paper money come from?
China
When did they make paper money in ancient China?
No where
Where was the first use of paper money?
china
In which country was paper money invented?
china
What religion made the paper money?
China
What group of people was the first to create and use paper money?
The first users of paper money where in China
Why did china begin to use paper money?
paper money was first used because of a metal shortage
When and where did the development of paper money begin?
The development of paper money began in China during the Tang Dynasty (618-907 AD). The first recorded use of paper money as a medium of exchange occurred in the 7th century in China.
How was paper money made in ancient china?
Bamboo
