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 his other sons, such as Tolui, Chagatai, or Jochi. The Toluids prevailed after a bloody purge of Ögedeid and Chagataid factions, but disputes continued among the descendants of Tolui. A key reason for the split was the dispute over whether the Mongol Empire would become a sedentary, cosmopolitan empire, or would stay true to their nomadic and steppe lifestyle. After Möngke Khan died (1259), rival kurultai councils simultaneously elected different successors, the brothers Ariq Böke and Kublai Khan, who fought each other in the Toluid Civil War (1260–1264) and also dealt with challenges from the descendants of other sons of