Society of the Mongol Empire influences. Genghis Khan authorized the use of paper money shortly before his death in 1227. It was backed by precious metals and silk. The Mongols used Chinese silver ingot as a unified money of public account, while circulating paper money in China and coins in the western areas of the empire such as Golden Horde and Chagatai Khanate. Under Ögedei Khan the Mongol government issued paper currency backed by silk reserves and founded a Department which was responsible for destroying old notes. In 1253, Möngke established a Department of Monetary affairs to control the issuance of paper money in order
Kaidu–Kublai war Karakorum. The Kaidu–Kublai war had effectively deepened the fragmentation of the Mongol Empire, although a peace later came in 1304 which established the nominal suzerainty of the Yuan Emperors (or Khagans) over the western khanates. Kaidu–Kublai war The Kaidu–Kublai war was a war between Kaidu, the leader of the House of Ögedei and the "de facto" khan of the Chagatai Khanate in Central Asia, and Kublai Khan, the founder of the Yuan dynasty in China and his successor Temür Khan that lasted a few decades from 1268 to 1301. It followed the Toluid Civil War (1260–1264) and resulted in the