Why the Chinese Developed Paper Money First
This video explains how and why the Chinese became the first people to use paper money.
SUBTOPICS:
0:00 Origins of coined money in the Old World
0:26 Use of base metal coins in China
2:37 Flying cash notes (feiqian) (Tang Dynasty) - An early form of traveler's checks
5:03 Jiaozi promissory notes (Song Dynasty) - Regarded as the first true paper money in history
7:21 The Mongol conquest of China, beginning under Genghis Khan
8:04 Yuan Dynasty paper currency under Kublai Khan - Inaugural Treasure Exchange Vouchers, Zhiyuan Chao banknotes
10:31 Marco Polo
10:39 The continued use and eventual decline of Chinese paper money during the Ming Dynasty - Emperor Zhu Di's spending on the Forbidden City Palace, repairs to the Grand Canal, maritime explorations under Admiral Zhen He, and military conflict with the Mongols. Inflation.
11:29 Conclusions
12:31 Previous Episode - How Debt Won the American Revolution: • How Debt Won the American Revolution
CREDITS (Go to 12:17 for details):
[1] https://commons.wikimedia.org/wiki/Fi...
[2] https://commons.wikimedia.org/wiki/Fi...
[3] https://en.wikipedia.org/wiki/File:I1...
[4] https://commons.wikimedia.org/wiki/Fi...
[5] https://en.wikipedia.org/wiki/File:AT...
[6] https://commons.wikimedia.org/wiki/Fi...
[7] https://en.wikipedia.org/wiki/File:Br...
[8] https://commons.wikimedia.org/wiki/Fi...
[9] https://commons.wikimedia.org/wiki/Fi...
[10] https://commons.wikimedia.org/wiki/Fi...
[11] https://commons.wikimedia.org/wiki/Fi...
[12] https://commons.wikimedia.org/wiki/Fi...
[13] https://en.wikipedia.org/wiki/File:Mo...
[14] https://en.wikipedia.org/wiki/File:Ji...
[15] https://commons.wikimedia.org/wiki/Fi...
[16] https://en.wikipedia.org/wiki/File:Yu...
[17] https://pixabay.com/photos/silver-bar...
[18] https://en.wikipedia.org/wiki/File:Yu...
[19] https://commons.wikimedia.org/wiki/Fi...
[20] https://commons.wikimedia.org/wiki/Fi...
[21] https://commons.wikimedia.org/wiki/Fi...
[22] https://pixabay.com/photos/chinese-cu...
[23] Crossing the Chasm by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song...
License: https://filmmusic.io/standard-license
[24] Music: All The Tea In China by Shane Ivers - https://www.silvermansound.com
Promoted by BreakingCopyright: http://bit.ly/Savfk-TheGrid
[25] • Beautiful Chinese Music - Asian Temple
[26] https://iamares.bandcamp.com/album/mo...
[27] • Epic Chinese Music – Chinese Dragon
[28] https://chriszabriskie.bandcamp.com/a...