m. Chron._
XII. 169; Information from _Dr. Lockhart_; _Alcock_, II. 86; _D'Ohsson_,
IV. 53; _Cowell_, in _J. A. S. B._ XXIX. 183 seqq.; _Thomas, Coins of
Patan Sovs. of Hind._, (from _Numism. Chron._ 1852), p. 139 seqq.;
_Kington's Fred. II._ II. 195; _Amari_, III. 816; _W. Vissering, On
Chinese Currency_, Leiden, 1877.)

["Without doubt the Mongols borrowed the bank-note system from the Kin. Up
to the present time there is in Si-ngan-fu a block kept, which was used
for printing the bank-notes of the Kin Dynasty. I have had the opportunity
of seeing a print of those bank-notes, they were of the same size and
shape as the bank-notes of the Ming. A reproduction of the text of the Kin
bank-notes is found in the _Kin shi ts'ui pien_. This copy has the
characters _pao kilan_ (precious charter) and the years of reign _Cheng
Yew_, 1213-1216. The first essay of the Mongols to introduce bank-notes
dates from the time of Ogodai Khan (1229-1242), but Chinese history only
mentions the fact without giving details. At that time silk in skeins was
the only article of a determinate value in the trade and on the project of
_Ye lue ch'u ts'ai_, minister of Ogodai, the taxes were also collected in
silk delivered by weight. It can therefore be assumed that the name _sze
ch'ao_ (i.e. bank-notes referring to the weight of silk) dates back to the
same time. At any rate, at a later time, as, under the reign of Kubilai,
the issuing of banknotes was decreed, silk was taken as the standard to
express the value of silver and 1000 _liang_ silk was estimated = 50
_liang_ (or 1 _ting_) silver. Thus, in consequence of those measures, it
gradually became a rule to transfer the taxes and rents originally paid in
silk, into silver. The wealth of the Mongol Khans in precious metals was
renowned. The accounts regarding their revenues, however, which we meet
with occasionally in Chinese history, do not surprise by their vastness.
In the year 1298, for instance, the amount of the revenue is stated in the
_Siu t'ung Kien_ to have been:--

19,000 _liang_ of gold = (190,000 _liang_ of silver, according to the
exchange of that time at the rate of 1 to 10).

60,000 _liang_ of silver.

3,600,000 _ting_ of silver in bank-notes (i.e. 180 millions _liang_);
altogether 180,250,000 _liang_ of silver.

The number seems indeed very high for that time. But if the exceedingly
low exchange of the bank-notes be taken into consideration, the sum will
be reduced