the government
When paper money was first printed by some states, it was backed by gold or silver reserves stored in the treasury. This system, known as the gold standard, ensured that each unit of currency could be exchanged for a specific amount of gold or silver. It provided stability and confidence in the currency's value.
The Song was the 1st Dynasty to develop paper money.
When paper was first printed, the states were still colonies. The colonies released the paper money and called them bills of credit. They were issued by the government and then citizens used them to pay their taxes.
Paper money can be printed, but if there is no value to back it up, the result is inflation. All money, not just the newly printed currency, loses its value. So it's not smart to just print more paper money than is backed up by real value.
Floating currency.
Paper money is typically backed by the government that issues it, which promises to accept it as payment for goods and services. In the past, paper money used to be backed by a specific commodity like gold or silver, but most countries have moved away from this system to a fiat currency system where money has value because the government says it does.
US paper money is not printed on standard paper. It is printed on a specialized cotton blend and contains no paper.
In the United States, our paper money is printed at the US Bureau of Engraving and Printing.
Money is just paper, it is printed off in factories or a bank machine, then distributed through the bank
Thousands of years ago. The Ancient Chinese had paper money. In all they produced paper money from the 9th through the 15th century. In the United States it dates from the revolution.
Money, especially paper money, is backed by the gold reserves of the issuing bank
The first paper for the Swindon Advertiser was printed on March 4, 1854.