Preview

Paper Money During The Song Dynasty

Good Essays
Open Document
Open Document
470 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Paper Money During The Song Dynasty
Have you ever wondered why we have paper money, or how it all came to be? From the invention to the how it spread, it is an exciting subject. Although it is all originated in the same place, in every government system, paper money is different.
Money, in the beginning, was coins, silks, and other items of interest. Although, many found this as a burden to carry with them. So, during the Song dynasty there was a thought of paper money, and that dream became a reality. Although some decided to rebel against the paper money and continue with the original system. One of these dynasties was the Qing Dynasty. There is not a decided reason to why they did this. Even though coins and paper money’s appearance was different, they served the same purpose.
…show more content…
So paper money was invented. Though there are lots of different names for the paper money we know, the most popular usage in the early times was flying cash. It was called this because, due to the money being paper and light, it had the tendency of blowing away. This wasn't an issue to the people that used paper money because it was better than what paper money replaced. Paper money replaced block printing. Block printing was when ink images was heavily printed on objects. Although block printing was a factor in the inspiration of paper. We owe the bigger idea on white deerskin that was distributed during the reign of Emperor Wu.
During the Song Dynasty paper was most popular which caused the government to get involved in the organization of it. The effect was that the government took care of the cash banking. They were also called banknotes which made their first appearance in 806 ad in the Szechuan province. Even with paper money being very popular, people had their assumptions of the paper money system. Although as you can see the progression that paper money has made, they put their ideas of it

You May Also Find These Documents Helpful

  • Good Essays

    The Tang invented what they called “Flying Cash” (called so because of it’s tendency to blow away), because it was much easier to travel long distances with. Flying Cash were simply paper certificates with different monetary values written on them that could be traded for solid money at the capitol. Due to fact that they were transferable, merchants on the Silk Roads exchanged Flying Cash like currency. Flying Cash was never meant to be official currency, so there was very little in circulation. Real government printed paper money was not used until the Song dynasty in 1023. The official paper money could be exchanged for the standard coins at any of the issuing banks. Large amounts of paper money was much easier for merchants to travel with in comparison to the bulky coins that were usually seen at the…

    • 1278 Words
    • 6 Pages
    Good Essays
  • Satisfactory Essays

    We learned about what money is and what it does. Money is a highly liquid financial asset that’s generally accepted in exchange for other goods, is used as a reference in valuing other goods, and can be stored as wealth (Colander, 2010, p. 313). We learned about how money is created. Banks create money by borrowing money from the public and then lending it back to public with interest. The money is created because they started with the original amount plus the amount that was loaned out minus a reserve that they have to keep.…

    • 507 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    * Paper money issued as a promise for hard specie such as gold and silver…

    • 1791 Words
    • 8 Pages
    Powerful Essays
  • Satisfactory Essays

    Comma Splices

    • 505 Words
    • 3 Pages

    -6. The exact origin of paper money is unknown it has not survived as coins, shells, and other durable objects have.…

    • 505 Words
    • 3 Pages
    Satisfactory Essays
  • Better Essays

    Ever since 1690, when the first paper money was issued by the Massachusetts Bay Colony, paper money has been constantly changing. Throughout the history of the United States paper money, the United States has gone through different types of currency. The different types of currency ranged from State Bank Notes to Gold Certificates to National Bank Notes to Silver Certificates to Federal Reserve Bank Notes, and now ending with Federal Reserve Notes. However, in the mean time counterfeit money had been gaining circulation and “thirty-six percent of the dollar value of known counterfeit currency passed in the U.S. was produced overseas, particularly in Colombia, Italy, Hong Kong, the Philippines and Bangkok” (Fun Facts About Money). In result, over a hundred domestic and eighteen foreign counterfeit operations were terminated in 1990.…

    • 1674 Words
    • 7 Pages
    Better Essays
  • Good Essays

    Hemmingway’s short story “A Clean, Well-Lighted Place” begins with an old man drinking brandy in a Spanish café late at night, into the early hours of the morning. A young waiter is upset, wishing that the old man would leave so that he and the older waiter could close the café and go home. However, the older waiter realizes that the old man must be lonely, especially since he had attempted to hang himself the week before. When the old man finally leaves the waiters close the café, with the younger waiter going home to his family and the older waiter wandering the streets to find his own clean, well-lit place.…

    • 652 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Glyn Davies. A History of Money from Ancient Times to the Present Day, 3rd ed. (Cardiff: University of Wales Press, 2002)…

    • 819 Words
    • 4 Pages
    Good Essays
  • Good Essays

    The growing economy during the Tang and Song areas contribute to many changes in China, with some changes that had global impact such as currency; however, perhaps one of the more significant change was the way of life. One particular example is the shift of way of life for peasants, from self-sufficiency to production for market, which inherently improved their life (McKay, 328). Additionally, with the growth of the population and the need for good and services led to the creation of currency, which replaced the need for trading goods. The high number and bulkiness the copper coins were replaced by the world’s first paper money, which were introduce in China (McKay, 328)..…

    • 303 Words
    • 2 Pages
    Good Essays
  • Good Essays

    4-h meeting notes

    • 315 Words
    • 2 Pages

    hard money - Gold and Silver coins, as distinguished from paper money. “They sought ... to substitute hard money for bank notes...”…

    • 315 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Humans have long since abandoned relying solely on a barter economy for the alternative of currency. As early as the Mesopotamians and Ancient Egyptians, currency had been created from golden rings and bars in order to accumulate wealth and trading power. Similar concepts and ideas of currency developed independently around the globe in order for society to overcome economic needs. The economic values of European settlers in North America had a profound impact on the ways that the indigenous peoples of the area lived by created a currency from what was once a traditional decoration piece or gift (Kelechava, 2016).…

    • 601 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Paper money was seen as a great way to keep money inside the colonies, and eventually country, and different forms were tried out until in the 19th century banks began to issue banknotes, and this form of currency…

    • 392 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Marco Polo Research Paper

    • 1384 Words
    • 6 Pages

    scale. These paper bills were made from very thick, strong bark. They were printed and then…

    • 1384 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    California Gold Rush

    • 928 Words
    • 4 Pages

    Local banks fulfilled this need by providing a safe and reliable place for one to store their gold, and would then give out what was called “banknotes”, similar to the modern U.S. dollar, in order to easily retrieve ones gold when it was needed. The closer the issuers of said banknotes were to the miners, the more reliable they were, so many outside of the California Gold Rush did not have the best of reputations, which caused an unstable economy during the earlier days of banking. Even due to this fact, the privately owned competing banks in areas such as California faced fierce competition with these local banks. The most important role that these banks had were to create a sort of ‘middleman’, providing a cash substitute in the form of their “banknotes”, as well as showing the importance of such intermediaries in a new and growing economy that would be later called the California Gold…

    • 928 Words
    • 4 Pages
    Good Essays
  • Good Essays

    When I grow up I want to go to the NBA, because it is my favorite sport to play. I really like playing basketball, when ever i get stressed out i play basketball to calm down. These are three reasons to go to the NBA. Practice, practice, practice! If you have a basketball hoop at home, play basketball every day. One way that you can get better at basketball, is to go to the gym a few times a week do some drills and work on your ball handles. Also, run everyday to be in good shape! Playing with people who are better than you will make you better. Also in a game, do not get easily discouraged. You can always make up for a disappointing game in the next. Be sure to practice shooting everywhere on the court meaning your close range, mid range and…

    • 318 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Smartphones Comparison

    • 822 Words
    • 4 Pages

    Today with the development of technology we can own many cell phones or smartphones that are very modern and have many functions. I’m looking for a smartphone that I feel that phone is suitable for me. I consider 2 smartphones I choose. It’s the Apple iPhone 4S and the Samsung Galaxy S II. We will compare some features both of them such as: design, screen, processor and operating system so that I can choose a smartphones for me.…

    • 822 Words
    • 4 Pages
    Satisfactory Essays

Related Topics