Organization of the Mongol Empire under Genghis Khan Organization of the Mongol Empire under Genghis Khan Coined as a parallel to "Pax Romana", the "Pax Mongolica" (Latin for "Peace of the Mongols") was the term for situation where trade between China and Europe in the 13th and 14th centuries was common and free from profound interference. Although the Mongol system of administration and governance during the brief era was not exactly peaceful, the Pax Mongolica was a time of relative peace throughout the Old World that led to an increase of trade, as well as an increase in awareness, between distant nations. In essence, the Mongol Empire administered
Society of the Mongol Empire to eliminate the overissue of the currency by Mongol and non-Mongol nobles since the reign of Great Khan Ögedei. His authority established united measure based on "sukhe" or silver ingot, however, the Mongols allowed their foreign subjects to mint coins in the denominations and use weight they traditionally used. During the reigns of Ögedei, Güyük and Möngke, Mongol coinage increased with gold and silver coinage in Central Asia and copper and silver coins in Caucasus, Iran and southern Russia.±±§ The Yuan dynasty under Kublai Khan issued paper money backed by silver, and again banknotes supplemented by cash and copper cash.