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
Mongol invasion of the Latin Empire his erstwhile enemies, the Seljuks, at a critical juncture in 1242 while they were under Mongol attack. As a result, the position of Vatatzes was strengthened with regards to the rump Seljuk state and the position of Baldwin, defeated by the Mongols himself, was weakened. Mongol invasion of the Latin Empire In the summer of 1242, a Mongol army invaded the Latin Empire of Constantinople. The army, a detachment of the army under Qadan then devastating Bulgaria, entered the empire from the north. It was met by the Emperor Baldwin II, who was victorious in a first encounter but was