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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...
What else can I help you with?
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!!
Which invention helped the Chinese solve the problem of needeing more money for trade?
The invention of paper currency in China helped solve the problem of needing more money for trade. Initially introduced during the Tang Dynasty and later developed further during the Song Dynasty, paper money provided a more convenient and lightweight alternative to heavy metal coins. This innovation facilitated trade by simplifying transactions and increasing the efficiency of commerce across regions. As a result, it significantly boosted economic activity and trade networks in China.
How is money made today?
today money is our of paper
Who invented paper money in china?
the han dynasty invented the paper money
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.
Was paper money used in china before adopted in the US?
yes because china made paper money first.
Where did paper money come from?
China
In which country was paper money invented?
china
Where was the first use of paper money?
china
What religion made the paper money?
China
When did they make paper money in ancient China?
No where
Why did china begin to use paper money?
paper money was first used because of a metal shortage
What group of people was the first to create and use paper money?
The first users of paper money where in China
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
