Banknotes Originated In Which Country?
Long before Europeans were using printed currency, and even longer before sophisticated printing presses were running in the New World, the Chinese were happily using paper money.
During the 7th century Tang Dynasty, the precursor of paper money appeared when merchants began using a system of receipts to alleviate the need to transport heavy coinage between warehouses and stores. By the 11th century, during the Song Dynasty, the government realized the utility of centralizing the production of these promissory notes and extending their use beyond the merchant class.
By the end of the 13th century, the Chinese currency system had evolved to closely resemble what would be the standard for paper-based currencies for many centuries to come. The paper currency was backed by gold and silver reserves, printed in no less than six ink colors, used intricate designs, and it was sometimes made of special paper with embedded fibers to avoid counterfeiting.
More Trivia Questions
The Largests Nests In The World Are Built By?
The Inventor Of Which Technology Thought Very Poorly Of His Invention?
What Did Park Rangers Use To Combat Erosion In Yellowstone National Park?
What American Sport Can Trace Its Roots Directly Back To The Prohibition Era?
The First Toilet Shown On Television Appeared In An Episode Of?
The Practice Of “Forest Bathing”, Walking In Woodland Areas For Health Purposes, Originated In?
Which Of These Horror Writers Only Achieved Fame Posthumously?
Actors Who Get Killed On “The Walking Dead” Receive What?
Cameras Hidden In What Office Equipment Helped The U.S. Gain Access to Soviet Secrets?