11 septembre 2010

Chinese Ming banknote, China, AD 1375

Chinese Ming banknote, China, AD 1375 © Trustees of the British Museum After seizing power from the Mongol rulers of China in 1368, the rulers of the Ming dynasty tried to reinstate bronze coins. However, there was not enough metal available for this, and paper money, made of mulberry bark, was produced. These banknotes continued to be issued by the Board of Revenue throughout the Ming dynasty, but inflation quickly eroded their value. The effect of inflation was so devastating that state-issued banknotes were regarded with... [Lire la suite]