 However, the government did not keep adequate reserves of hard currency to back the new banknotes up and many provincial governments didn't allow for taxes to be paid using paper money, after a few years the government started refusing to convert the new paper money into hard currency and the Chinese people started to distrust it as a valid medium of exchange.In response to the ever more expensive military expenditures because of the Taiping Rebellion the government started producing more and more high denomination banknotes which were not convertible causing hyperinflation, in the year Xianfeng 8 (1858) the government completely depreciated the Hubu Guanpiao series in favour of the Da-Qing Baochao.By the year Xianfeng 9 (1859) the Da-Qing Baochao had also become completely depreciated and was ultimately abolished.