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The economy of China during the Song dynasty outpaced the supply of traditional coinage, leading the government to issue paper money (Jiaozi (交子)) to increase the money supply. Subsequently, a government department was created to manage cash affairs, with its responsibilities including producing and issuing cash, and combating counterfeiting.
Standard Catalog of World Paper Money – Specialized Issues, 12th Edition, publication date 2013, Krause Publications, ISBN 978-1-4402-3883-3 This is updated every four years or so. All with digital copy available separately. Other related catalogs. Standard Catalog of United States Paper Money, 35th Edition, publication date 2016, Krause ...
The success of Northern Song dynasty cash coins domestically and internationally made it difficult, even at peak production, to produce a sufficient number of coins for the market, and to restore the elasticity of the money supply the government issued paper money to secure the payment of taxes. [27]
Paper money sometimes showed pictures of the appropriate number of 1 wén coins strung together. In the 19th century, foreign coins began to circulate widely in China, particularly silver coins such as the Mexican peso. In 1889, Chinese currency began to be denominated in the yuan and its subdivisions.
Paper money and bonds started to be used in China in the 9th century. However, due to monetary problems such as enormous local variations in monetary supply and exchange rates, rapid changes in the relative value of silver and copper, coin fraud, inflation, and political uncertainty with changing regimes, until the time of the Republic payment ...
During the reign of Emperor Xiaozong the usage of paper money came into question but as there was a shortage of copper cash coins they were assessed to be needed for the economy to be maintained as the amount of coins in circulation didn't sufficiently meet the markers demands, at this time there were Huizi notes with denominations as high as ...
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As bankruptcy plagued several merchant companies the government nationalised and managed the production of paper money and founded the Jiaozi wu (交子務) in 1023. The first series of standard government notes was issued in 1024 with denominations such as 1 guàn (貫, or 700 wén), 1 mín (緡, or 1000 wén), up to 10 guàn .