Paper money widespread in Song China

1085

The Jiaozi notes first issued at Sichuan in 1023 had spread across Song China as supplementary legal tender. Merchants preferred their lightness to copper coin for long-distance trade. The fiscal sophistication of Song finance was unmatched; it would inspire awe in later Mongol and European visitors alike. The government printed the notes with multiple colors and intricate designs, developing anti-counterfeiting measures centuries ahead of their time.