Jiaozi (currency)

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Reproduction of a Song note, possibly a Jiaozi, redeemable for 770 mo. Hue-tzu (Song Dynasty government issue), 1023 - John E. Sandrock.jpg
Reproduction of a Song note, possibly a Jiaozi, redeemable for 770 .

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<span class="mw-page-title-main">Huizi (currency)</span> Government note of the Chinese Southern Song dynasty

The Huizi, issued in the year 1160, was the official paper money of the Chinese Southern Song dynasty. It has the highest amount of issuance among various government note types during the Song dynasty. Huizi notes came on three-colour printed paper and their usage was heavily promoted by the government of the Southern Song dynasty, the Huizi were backed by 280,000 guàn of copper cash coins.

Flying cash, or Feiqian, was a type of paper negotiable instrument used during China's Song dynasty invented by merchants but adopted by the state. Its name came from their ability to transfer cash across vast distances without physically transporting it. It is a precursor to true banknotes which appeared during the Song dynasty.

<span class="mw-page-title-main">Cash (Chinese coin)</span> Chinese coin

The cash or qian was a type of coin of China and the Sinosphere, used from the 4th century BCE until the 20th century CE, characterised by their round outer shape and a square center hole. Originally cast during the Warring States period, these coins continued to be used for the entirety of Imperial China. The last Chinese cash coins were cast in the first year of the Republic of China. Generally most cash coins were made from copper or bronze alloys, with iron, lead, and zinc coins occasionally used less often throughout Chinese history. Rare silver and gold cash coins were also produced. During most of their production, cash coins were cast, but during the late Qing dynasty, machine-struck cash coins began to be made. As the cash coins produced over Chinese history were similar, thousand year old cash coins produced during the Northern Song dynasty continued to circulate as valid currency well into the early twentieth century.

<span class="mw-page-title-main">Yuan dynasty coinage</span> Historical coinage of China

The Yuan dynasty was a Mongol-ruled Chinese dynasty which existed from 1271 to 1368. After the conquest of the Western Xia, Western Liao, and Jin dynasties they allowed for the continuation of locally minted copper currency, as well as allowing for the continued use of previously created and older forms of currency, while they immediately abolished the Jin dynasty's paper money as it suffered heavily from inflation due to the wars with the Mongols. After the conquest of the Song dynasty was completed, the Yuan dynasty started issuing their own copper coins largely based on older Jin dynasty models, though eventually the preferred Yuan currency became the Jiaochao and silver sycees, as coins would eventually fall largely into disuse. Although the Mongols at first preferred to have every banknote backed up by gold and silver, high government expenditures forced the Yuan to create fiat money in order to sustain government spending.

<span class="mw-page-title-main">Guanzi (currency)</span>

The guanzi, was a Song dynasty era form of paper money that served as promissory notes that could be traded for goods and services where the seller that received these notes could go to an issuing agency and redeem the note for strings of coins at a small exchange fee. They were originally introduced as a form of payment to the military at which time the notes were known as jianqian guanzi (見錢關子), and circulated alongside the contemporary jiaozi and huizi notes. After 1190 the records stop mentioning guanzi notes until 1264, an indication that jiaozi and huizi notes had superseded the guanzi in importance. From 1264 new guanzi notes were introduced such as the copper backed tongqian guanzi (銅錢關子), the silver backed yinguan (銀關), and the gold backed jinyin jianqian guanzi (金銀見錢關子), which were all introduced to combat the inflationary policy that had plagued the Huizi. The exchange rate between guanzi banknotes and copper cash coins was 1 guàn for 770 wén while huizi notes of the eighteenth production period were valued at 3 guàn for 1 wén. Despite these exchange rates the new guanzi banknotes did not stop the inflation that had plagued the Southern Song dynasty during its waning years. In the modern era not a single guanzi note survived regardless of the fact that many of them produced during the Southern Song era, in the modern era only the printing plates that were used to produce guanzi notes still exist and of the ten printing plates created by the Song government a total six are owned by the Administration Institute of Cultural Relics of Dongzhi County, two guanzi printing plates are in a private collection, and two of the printing plates have yet to be found.

<i>Hongwu Tongbao</i> First cash coin to bear the name of a Ming Emperor

The Hongwu Tongbao was the first cash coin to bear the reign name of a reigning Ming dynasty Emperor bearing the reign title of the Hongwu Emperor. Hongwu Tongbao cash coins officially replaced the earlier Dazhong Tongbao coins, however the production of the latter did not cease after the Hongwu Tongbao was introduced. The government of the Ming dynasty placed a greater reliance on copper cash coins than the Yuan dynasty ever did, but despite this reliance a nationwide copper shortage caused the production of Hongwu Tongbao cash coins to cease several times eventually leading to their discontinuation in 1393 when they were completely phased out in favour of paper money. In the year 1393 there were a total of 325 furnaces in operation in all provincial mints of China which had an annual output of 189,000 strings of cash coins which was merely 3% of the average annual production during the Northern Song dynasty.

<span class="mw-page-title-main">Great Ming Treasure Note</span>

The Great Ming Treasure Note or Da Ming Baochao was a series of banknotes issued during the Ming dynasty in China. They were first issued in 1375 under the Hongwu Emperor. Although initially the Great Ming Treasure Note paper money was successful, the fact that it was a fiat currency and that the government largely stopped accepting these notes caused the people to lose faith in them as a valid currency causing the price of silver relative to paper money to increase. The negative experiences with inflation that the Ming dynasty had witnessed signaled the Manchus to not repeat this mistake until the first Chinese banknotes after almost 400 years were issued again in response to the Taiping Rebellion under the Qing dynasty's Xianfeng Emperor during the mid-19th century.

<span class="mw-page-title-main">Southern Tang coinage</span>

The coinage of the Southern Tang dynasty consisted mostly of bronze cash coins while the coinages of previous dynasties still circulated in the Southern Tang most of the cash coins issued during this period were cast in relation to these being valued as a multiple of them.

<span class="mw-page-title-main">Paper money of the Qing dynasty</span> Historical currency of China

The paper money of the Qing dynasty was periodically used alongside a bimetallic coinage system of copper-alloy cash coins and silver sycees; paper money was used during different periods of Chinese history under the Qing dynasty, having acquired experiences from the prior Song, Jin, Yuan, and Ming dynasties which adopted paper money but where uncontrolled printing led to hyperinflation. During the youngest days of the Qing dynasty paper money was used but this was quickly abolished as the government sought not to repeat history for a fourth time; however, under the reign of the Xianfeng Emperor, due to several large wars and rebellions, the Qing government was forced to issue paper money again.

<span class="mw-page-title-main">Great Qing Treasure Note</span> Qing dynasty paper money, issued 1853–1859

The Great Qing Treasure Note or Da-Qing Baochao refers to a series of Qing dynasty government notes issued under the reign of the Xianfeng Emperor issued between the years 1853 and 1859. These government notes were all denominated in wén and were usually introduced to the general market through the salaries of soldiers and government officials.

<span class="mw-page-title-main">Hubu Guanpiao</span>

The Hubu Guanpiao is the name of two series of government notes produced by the Qing dynasty, the first series was known as the Chaoguan (鈔官) and was introduced under the Shunzhi Emperor during the Qing conquest of the Ming dynasty but was quickly abandoned after this war ended, it was introduced amid residual ethnic Han resistance to the Manchu invaders. These government notes were produced on a small scale, amounting to 120,000 strings of cash coins annually, and only lasted between 1651 and 1661. After the death of the Shunzhi Emperor in the year 1661, calls for resumption of note issuance weakened, although they never completely disappeared.

<span class="mw-page-title-main">String of cash coins (currency unit)</span> Historical currency unit

A string of cash coins refers to a historical Chinese, Japanese, Korean, Ryukyuan, and Vietnamese currency unit that was used as a superunit of the Chinese cash, Japanese mon, Korean mun, Ryukyuan mon, and Vietnamese văn currencies. The square hole in the middle of cash coins served to allow for them to be strung together in strings. The term would later also be used on banknotes and served there as a superunit of wén (文).

<span class="mw-page-title-main">Zhuangpiao</span>

The Zhuangpiao, alternatively known as Yinqianpiao, Huipiao, Pingtie (憑帖), Duitie (兌帖), Shangtie (上帖), Hupingtie (壺瓶帖), or Qitie (期帖) in different contexts, refer to privately produced paper money made in China during the Qing dynasty and early Republic of China periods issued by small private banks known as qianzhuang. Other than banknotes qianzhuang also issued Tiexian.

<span class="mw-page-title-main">Great Qing Copper Coin</span> Currency of the Qing Dynasty

The Great Qing Copper Coin, also known as the Qing Dynasty Copper Coin or Da-Qing Tongbi, officially the Tai-Ching-Ti-Kuo Copper Coin, refers to a series of copper machine-struck coins from the Qing dynasty produced from 1906 until the fall of the Qing dynasty in 1911. These coins were intended to replace the earlier cast cash coins and provincial coinages, but were welcomed to mixed receptions.

<span class="mw-page-title-main">Banknotes of the Da Qing Bank</span> Historical currency

The banknotes of the Da-Qing Bank were intended to become the main form of paper money of the Qing dynasty following the bank's establishment in 1905. The Da-Qing Bank had branches throughout China and many of its branches outside of its headquarters in Beijing also issued banknotes.

<span class="mw-page-title-main">Daqian</span>

Daqian are large-denomination cash coins produced in the Qing dynasty starting from 1853 until 1890. Large denomination cash coins were previously used in earlier Chinese dynasties and had faced similar issues as 19th-century Daqian. The term referred to cash coins with a denomination of 4 wén or higher.

<span class="mw-page-title-main">Zhiqian</span>

Standard cash, or regulation cash coins, is a term used during the Ming and Qing dynasties of China to refer to standard issue copper-alloy cash coins produced in imperial Chinese mints according to weight and composition standards that were fixed by the imperial government. The term was first used for Hongwu Tongbao cash coins following the abolition of large denomination versions of this cash coin series.

<span class="mw-page-title-main">Hongqian</span> Chinese numismatic term

"Red cash coins" are the cash coins produced in Xinjiang under Qing rule following the conquest of the Dzungar Khanate by the Qing dynasty in 1757. While in Northern Xinjiang the monetary system of China proper, with standard cash coins, was adopted in Southern Xinjiang where the pūl (ﭘول) coins of Dzungaria circulated earlier, the pūl-system was continued but some of the old Dzungar pūl coins were melted down to make Qianlong Tongbao (乾隆通寶) cash coins. Because pūl coins were usually around 98% copper, they tended to be very red in colour which gave the cash coins based on the pūl coins the nickname "red cash coins".

<span class="mw-page-title-main">Tieqian</span> Ancient coins of China, Japan and Vietnam

Iron cash coins are a type of Chinese cash coin that were produced at various times during the monetary history of imperial China as well as in Japan and Vietnam. Iron cash coins were often produced in regions where the supply of copper was insufficient, or as a method of paying for high military expenditures at times of war, as well as for exports at times of trade deficits.

References

  1. "Paper Money in Premodern China.". ChinaKnowledge.de - An Encyclopaedia on Chinese History, Literature and Art. May 10, 2016. Retrieved February 6, 2018.
  2. "The first Chinese paper money, "jiaozi," was stamped with six different inks and multiple banknote seals". Brad Smithfield (The Vintage News). May 18, 2017. Retrieved February 14, 2018.
  3. .pdf Silver and the Transition to a Paper Money Standard in Song Dynasty (960-1276) China. Archived October 27, 2017, at the Wayback Machine Richard von Glahn (UCLA) (For presentation at the Von Gremp Workshop in Economic and Entrepreneurial History.) University of California, Los Angeles, 26 May 2010 Retrieved: 17 June 2017.
  4. Robert M. Hartwell, "The Imperial Treasuries: Finance and Power in Sung China," Bulletin of Sung-Yuan Studies 20 (1988).
  5. "jiaozi 交子 and qianyin 錢引, early paper money.". ChinaKnowledge.de - An Encyclopaedia on Chinese History, Literature and Art. May 10, 2016. Retrieved February 6, 2018.

Sources

Jiaozi
Chinese 交子
Transcriptions
Standard Mandarin
Hanyu Pinyin jiāozǐ
Middle Chinese
Middle Chinese /kˠaut͡sɨX/