大英博物館のインスタグラム(britishmuseum) - 3月17日 04時05分

Paper currency was first used in China as early as AD 1000. It was the Chinese who first printed a value on a piece of paper and persuaded everyone that it was worth what it said it was. The whole modern banking system of paper and credit is built on this one simple act of faith. The Chinese had invented both paper and block printing, and this allowed the printing of paper money. The Ming were the first Chinese dynasty to try to totally replace coins with paper money. After seizing power from the Mongol rulers of China in 1368, the rulers of the Ming dynasty first tried to reinstate bronze coins however there was not enough metal available for this, and paper money (made of mulberry bark) was produced.
The Chinese writing along the top of this Ming dynasty banknote reads (from right to left): ‘Da Ming tong xing bao chao’ and translates as ‘Great Ming Circulating Treasure Note’. Below this, the denomination is written in two characters ‘yi guan’ (one string) above a picture of a string of 1,000 bronze coins. The long inscription beneath gives instructions for use and a warning that forgers will be punished severely.
These banknotes continued to be issued by the Board of Revenue throughout the Ming dynasty, but the state issued too much paper money and inflation quickly eroded their value. By 1425 paper money was worth only a 70th of its original value and the use of paper currency in China was suspended. In 1436 the government began collecting land taxes in silver, and paper money stopped being so important, except for small-scale transactions. The effect of inflation was so devastating that state-issued banknotes were regarded with suspicion for many years. It was not until the 1850s that a Chinese emperor issued banknotes again.
The history of money can be traced back 4,000 years! We're highlighting stories about money this week for #GlobalMoneyWeek. Explore the history of money from prehistory to today in our Citi Money Gallery (Room 68).
#GMW2016 #money #history #Ming #MingDynasty #China #banknote #banknotes

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