Where was the first recorded use of paper money?
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2 Answers
The first recorded use of paper money was in China during the Tang dynasty in the 7th century. The Chinese government issued the first banknotes to replace heavy copper coins. These banknotes were made of mulberry bark, and they were initially used by merchants and traders before becoming widely adopted by the general public.
The first recorded use of paper money was in China during the Tang Dynasty, around the 7th century AD. The paper money, known as "jiaozi," was initially used as a kind of promissory note for the transfer of goods and was backed by deposits of precious metals. Over time, paper money became more widely used in China and eventually spread to other parts of the world.