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
Society of the Mongol Empire cities and villages in Shanxi and Iran in spite of their nomadic grounds in Central Asia. First Ilkhan Hulagu owned 25,000 households of silk-workers in China, valleys in Tibet as well as pastures, animals, men in Mongolia. His descendant Ghazan of Persia sent envoys with precious gifts to Temür Khan of Yuan dynasty to request his great-grandfather's shares in Great Yuan in 1298. It is claimed that Ghazan received his shares that were not sent since the time of Möngke Khan. Mongol and non-Mongol appanage holders demanded excessive revenues and freed themselves from taxes. Ögedei decreed that nobles could appoint