Chinese Flying Cash

About Chinese Flying Cash

The earliest form of paper money in China, originating in the Tang Dynasty. Called flying cash because it could fly from one place to another. Merchants in remote provinces deposited copper coins and received paper certificates redeemable in the capital. The government initially opposed the practice but eventually adopted and regulated it. By the Song Dynasty, the government issued official paper money. Marco Polo described Chinese paper money with amazement in his Travels.