 It has been suggested by Taiwanese economic historian Lin Man-houng that Chinese money shops did not start with the production of their own private banknotes until the end of the Qianlong period, these shops were very likely to have been more developed in Northern China, where these money shops produced banknotes which were mostly denominated in cash coins while banknotes from Southern China tended to be denominated in taels of silver.It is also possible that private-order banknotes could have emerged earlier in the 18th century and that their presence would become very common by the 1820s.The Xianfeng era Hubu Guanpiao (戶部官票) tael-based banknotes were created out of the same situation that created the Da-Qing Baochao (大清寶鈔) cash coins-based banknotes, with the main difference being in what form of currency these banknotes could be redeemed in.