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 invasions of Vietnam third invasions occurred during the reign of Kublai Khan of the Yuan Dynasty. By this point, the Mongolian Empire had fractured into 4 separate entities with Yuan Dynasty being the strongest and biggest empire. These invasions resulted in a disastrous land defeat for the Mongols in 1285 and the annihilation of the Mongol navy in 1288. However, both the Trần dynasty and Champa decided to accept the nominal supremacy of the Yuan dynasty and serve as tributary states in order to avoid further conflicts. By the 1250s, the Mongol Empire controlled large amounts of Eurasia including much of Eastern Europe,