Paper Money Creation during Emperor Khan Era

Paper Money Creation and its Authentication 

According to Marco Polo, paper money is created from the bark of Mulberry tree especially from a whitebark sandwiched the wood and the thick exterior skin. The bark is made into some sort of sheets of papers which are later sliced in different sizes of Tornesels, Bezants, and Groats values. The paper money is authenticated through a couple of officials writing their names and inserting their respective seals. Finally, the chief officer smirches the vermillion seal and imprints it on the paper. 

Convenient Advantage of Paper Money. 

Paper money is important across all kingdoms and territories in the sense that a large amount can be carried easily to enhance all sales and purchases transactions. With paper money, individuals can purchase anywhere within the empire. This paper- money was hugely lighter to carry on individuals’ journey. 

Handling of Foreign Currency 

Foreign currency is handled by restricting the merchants from other countries to trade gold, silver, gems, and pearls for paper-money with Emperor only. Through this, he was able to gain wealth as the money he pays away cost him absolutely nothing. 

Khan’s Greatest Advantage through Trade Arrangements. 

Emperor Khan was able to replenish his treasure of precious things through merchandise through the creation and empire restrictions of paper-money. People from his territory brought more gold and other precious materials to his emperor for a handsome price hence improving his possessions. 

Paper-Money Was Taken Out Of Circulation Following Deterioration 

Although when pieces of paper damaged the owners could get new pieces at the cost of three percent on the value, paper money deteriorated as a result of the problem raised by continuous inflation over time which Polo was unaware of. He thought it was a minor issue to be supplemented by extension of the printing sector. Polo dint quote the year by year deterioration in the paper money's value during his tenure.