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
Political divisions and vassals of the Mongol Empire Political divisions and vassals of the Mongol Empire This article discusses the political divisions and vassals of the Mongol Empire. Through invasions and conquests the Mongols established a vast empire that included many political divisions, vassals and tributary states. It was the largest contiguous land empire in history. However, after the death of Möngke Khan, the Toluid Civil War and subsequent wars had led to the fragmentation of the Mongol Empire. By 1294, the empire had fractured into four autonomous khanates, including the Golden Horde in the northwest, the Chagatai Khanate in the middle, the Ilkhanate in the southwest, and