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First created and used by the Chinese
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Who introduced paper money to Britain?
Paper money was first used in 7th century China. It was not until 1694, when bank notes were issued on paper by the Bank of England to fund the war against France, that the idea of using paper money on a regular basis was formulated.
What are facts about Chinese paper money?
they used it to well when they sold silk people would use paper money so there you have peeps paper money thank you thank you you've been a great.. well what ever by by
Most commonly used material in the world?
Paper. and a bit of a poo
What country was the first to make paper?
Egypt was the first to write documents on a type of paper made from reeds. In Ancient Egypt these "papers" would be rolled into scrolls, which later the ideas was used by the Greeks, Romans, and other later civilizations. The first paper came from China.
Who invented Chinese paper money?
Paper money NINTH CENTURY AD The Chinese invented paper money at the end of the eighth or beginning of the ninth century AD. Its original name was 'flying money' because it was so light and could blow out of one's hand. The first paper money was, strictly speaking, a draft rather than real money. A merchant could deposit his cash in the capital, receiving a paper certificate which he could then exchange for cash in the provinces. This private merchant enterprise was quickly taken over by the government in 812. The technique was then used for the forwarding of local taxes and revenues to the capital. Paper 'exchange certificates' were also in use. These were issued by government officials in the capital and were redeemable elsewhere in commodities such as salt and tea.When the Mongols came to power in China, they issued a quaint form of paper money called 'silk notes'. The deposits behind this currency were not precious metals but bundles of silk yarn. All older money had to be cashed in and exchanged for silk notes, and the Mongols spread this unified currency all over the Empire and even beyond. By 1294, Chinese silk notes were being used as money as far afield as Persia. In 1965, two specimens of 'silk notes' were found by archeologists.When Marco Polo visited China, he was so impressed by paper money that he wrote a whole chapter about it, describing everything about its manufacture and circulation. He described the manner in which it was issued:All these pieces of paper are issued with as much solemnity and authority as if they were of pure gold or silver; and on every piece a variety of officials, whose duty it is, have to write their names, and to put their seals. And when all is duly prepared, the chief officer deputed by the Khan smears the Seal entrusted to him with vermilion, and impresses it on the paper, so that the form of the Seal remains printed upon it in red; the Money is then authentic. Anyone forging it would be punished with death.
What was the first Chinese dynasty to printed the first paper money used in the world?
The Song was the 1st Dynasty to develop paper money.
First used paper money?
The Chinese
What is the name of the country that first used paper currency in the world?
China used paper as currency in the world for the first time.
Why did china begin to use paper money?
paper money was first used because of a metal shortage
How long has paper money been around?
The first paper money used in the United States was in 1862!
Which country first used paper money?
China.
What country first used paper money as a currency?
China.
Was paper money used in china before adopted in the US?
yes because china made paper money first.
First people to use paper money?
This is when paper money first became popular. It was actually in 806 AD that paper money was used. The Chinese were the first ones to give bank slips and paper money under the T'ang dynasty. It was later abandoned in 1455 in China only to be reinstated in the 1800s.
What country first used paper money?
The first known use of paper money was in china during the 7th century; it was used to reduce the amount of coinage carried by travelers as it weighed too much.
Where was the first money used in the world?
First created and used by the Chinese
When paper money was first printed by some states it wa?
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.
