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 rule Persia and Mongol-held China respecively. In the southern part of the empire he continued his predecessors' struggle against the Song dynasty. In order to outflank the Song from three directions, Möngke dispatched Mongol armies under his brother Kublai to Yunnan, and under his uncle Iyeku to subdue Korea and pressure the Song from that direction as well. Kublai conquered the Dali Kingdom in 1253 after the Dali King Duan Xingzhi defected to the Mongols and helped them conquer the rest of Yunnan. Möngke's general Qoridai stabilized his control over Tibet, inducing leading monasteries to submit to Mongol rule. Subutai's