Kublai Khan (Mongol emperor) Genghis Khan would die three years after this event in 1227, when Kublai was 12. Kublai’s father Tolui would serve as regent for two years until Genghis’ successor, Kublai’s third uncle Ogedei, was enthroned as Khagan in 1229. After the Mongol conquest of the Jin dynasty, in 1236, Ogedei gave Hebei (attached with 80,000 households) to the family of Tolui, who died in 1232. Kublai received an estate of his own, which included 10,000 households. Because he was inexperienced, Kublai allowed local officials free rein. Corruption amongst his officials and aggressive taxation caused large numbers of Chinese peasants
Society of the Mongol Empire when the Song dynasty started replacing their copper coinage with paper currency. When the Mongols invaded Song China they started issuing their own Mongolian bills in 1227. This first attempt by the Mongols did not last long because the notes issued expired after several years and were inconsistent throughout the parts of the Mongol Empire that issued them. In 1260, Kublai Khan created the Yuan Mongol's first unified paper currency with notes that did not have any expiration date. To validate the currency, it was made fully exchangeable to silver and gold and was accepted as tax payments. Currency distribution