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 Empire the elimination of Batu's own dominance there. In the southern part of the empire, Möngke Khan himself led his army to complete the conquest of China. Military operations were generally successful, but prolonged, so the forces did not withdraw to the north as was customary when the weather turned hot. Disease ravaged the Mongol forces with bloody epidemics, and Möngke died there on 11 August 1259. This event began a new chapter in the history of the Mongols, as again a decision needed to be made on a new great khan. Mongol armies across the empire withdrew from their campaigns