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
Kublai Khan and the Mongolian steppe from a capital at modern Beijing were the precedents for the Qing dynasty's Inner Asian Empire. Kublai Khan Kublai (; , "Hubilai"; Chinese: 忽必烈) was the fifth Khagan (Great Khan) of the Mongol Empire ("Ikh Mongol Uls"), reigning from 1260 to 1294 (although due to the division of the empire this was a nominal position). He also founded the Yuan dynasty in China as a conquest dynasty in 1271, and ruled as the first Yuan emperor until his death in 1294. Kublai was the fourth son of Tolui (his second son with Sorghaghtani Beki) and a