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
Bayan of the Baarin and Nayagha's father Shirgügetü Ebügen, appear in the "Secret History of the Mongols". However, at least one well-respected scholar presents Bayan as a Turk whose family had long served the Great Khans. His grandfather Alagh was the viceroy in Khorazm province under the Mongol Empire. Bayan's father died during the Mongol siege of the stronghold of the Assassins ("Hashshashin"). While Bayan served in Persia with Hulegu's army, Kublai Khan recalled him. Kublai liked him, but he did not hold commanding rank in the Yuan army. After the success of the Battle of Xiangyang in 1273, Kublai appointed Bayan as the