HISTORY
CIVILIZATIONS OF ASIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It was worth more than copper coins.
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It looked cool.
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It was more convenient in business transactions.
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It was a universal currency.
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Detailed explanation-1: -It started in Tang but not until Song dynasty that it became institutionized as a governmental policy. It had two main advantages over money made out of silver, gold, copper or iron: It was easier to carry around and the copper and iron could be saved for use in everyday objects.
Detailed explanation-2: -Paper bills were first used by the Chinese, who started carrying folding money during the Tang Dynasty (A.D. 618-907)-mostly in the form of privately issued bills of credit or exchange notes-and used it for more than 500 years before the practice began to catch on in Europe in the 17th century.
Detailed explanation-3: -The first recorded use of paper money was purported to be in the country of China during the 7th century A.D. as a means of reducing the need to carry heavy and cumbersome strings of metallic coins to conduct transactions.