History of the Qaraunah Turks in India c8.92

c8.92

The token currency was not an original device, for towards the close of the 13th century Qublā Khan, the Mongol emperor of China, had encouraged and developed in his dominions the use of paper currency. He introduced a paper currency in the first year of his reign, i.e., 1260 A.D., and continued to issue it fearlessly to the end. This paper money was called the Chāo and its use was enforced throughout the vast empire on pain of death.⁴⁸ All