Jiaozi is the earliest paper money in China. One of the names of paper money in Song and Jin Dynasties. In the early years of the Northern Song Dynasty, Sichuan used iron coins, which were light in weight. 1 0,000 coins weigh 25 Jin, and it took 90 Jin to several hundred Jin to buy 1 piece of silk. It is inconvenient to circulate.

So, the merchant issued a kind of paper money called Jiaozi instead of iron money. When cashing, 30 yuan will be deducted for each transaction. 16 wealthy businessmen in Chengdu set up jiaozi shops to print, distribute and operate the exchange business of copper coins and jiaozi, which was the first of its kind in private finance. Every year when silkworms, rice and wheat are about to mature, jiaozi is printed on the same color paper.

Extended data

Jiaozi, which originated in the Northern Song Dynasty, is the earliest paper money in the world. Tu, director of the Southern Song Dynasty Coin Museum, explained that the geographical isolation of Sichuan led to the appearance of Jiaozi in the Northern Song Dynasty, but Jiaozi did not directly participate in the circulation. Businessmen who take jiaozi out of Sichuan still need to exchange jiaozi for gold, silver, copper and other currencies for trading.

"Jiaozi" is a kind of securities, which is equivalent to the current check. During the Southern Song Dynasty, due to the rapid economic development, the manufacture of copper coins could no longer meet the needs of circulation. In addition, the economy of the Southern Song Dynasty mainly relied on overseas trade, which led to the loss of a large number of coins overseas, resulting in a "meeting" that could be used for private transactions.

In A.D. 1 160, Qian Li Duan, the magistrate of Lin 'an, took the lead in uniformly issuing Huizi by the government. With his promotion to the Ministry of Housing, Huizi was also distributed nationwide. It was not until the Yuan Dynasty that Kyle Polo spread paper money to Iran, and then to Japan and Korea. It was not until 500 years later, that is, 1690, that paper money appeared in Europe and Sweden.

References:

Baidu Encyclopedia-jiaozi