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 of Galilee at the Battle of Ain Jalut. The Mongols were defeated, and Kitbuqa executed. This pivotal battle marked the western limit for Mongol expansion in the Middle East, and the Mongols were never again able to make serious military advances farther than Syria. In a separate part of the empire, Kublai Khan, another brother of Hulagu and Möngke, heard of the great khan's death at the Huai River in China. Rather than returning to the capital, he continued his advance into the Wuchang area of China, near the Yangtze River. Their younger brother Ariqboke took advantage of the absence