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It was left to the Chinese to "invent" paper currency, initially in the form of promissory notes from wholesaler's shops backed by the merchant, but these were only useful in the local region. The Song dynasty began issuing a more universal paper currency based on the state monopoly of salt production. It took until the 13th Century for this paper money to finally become standardized and acceptable across the kingdom.
— Civilization VI
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Language: | English |
Submitted by: | Vielle |
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