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Flying Money
Flying cash (), or ''Feipiao'', was a type of paper negotiable instrument used during China's Tang dynasty invented by merchants but adopted by the state. Its name came from their ability to transfer cash across vast distances without physically transporting it. It is a precursor to true banknotes which appeared during the Song dynasty. According to the '' New Book of Tang'', in the year 804, merchants were using flying cash. Between 805 and 820 there was a shortage of copper cash coins which proved to be a hindrance for daily business transactions in the Tang dynasty. The creation of the flying cash happened after a tax reform that allowed for the partial acceptance of taxes in money, which had increased the demand for currency which scared the government that merchants would remove cash coins from the capital to circulate so they ordered the local governments to set up monetary systems based on silk, other fabrics, and daily items akin to barter which hampered long-distance trade ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Negotiable Instrument
A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. More specifically, it is a document contemplated by or consisting of a contract, which promises the payment of money without condition, which may be paid either on demand or at a future date. The term has different meanings depending on the use of the term as it is used in the application of different laws, and depending in which country and context it is used. Concept of negotiability William Searle Holdsworth defines the concept of negotiability as follows: #Negotiable instruments are transferable under the following circumstances: they are transferable by delivery where they are made payable to the bearer, they are transferable by delivery and endorsement where they are made payable to order. #Consideration is presumed. #The transferee acquires a good title, even though the transferor had a defective or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Military History Of The Sui–Tang Dynasties
The military history of the Sui and Tang dynasties encompasses the period of Chinese military activity from 581 to 907. Although the Sui dynasty (581–618) preceded the Tang (618–907), it was extremely short lived, ending in 618. The two dynasties share many similar trends and behaviors in terms of military tactics, strategy, and technology. It can therefore be viewed that the Tang continued the Sui tradition, or that the Sui set the precedent for the Tang dynasty. Organization The Sui dynasty inherited the Twenty-four Armies from the Northern Zhou. The system of recruitment that created these armies would come to be known as '' fubing'', or "territorial soldiery". ''Fubing'' soldiers were originally recruits drawn from the old military households of previous dynasties. Unlike the mass conscription of the Han dynasty, these soldiers were promised tangible rewards such as exemption from taxes and labor for their families. Later on, these soldiers were formed into units pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banknotes
A banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes were originally issued by commercial banks, which were legally required to redeem the notes for legal tender (usually gold or silver coin) when presented to the chief cashier of the originating bank. These commercial banknotes only traded at face value in the market served by the issuing bank. Commercial banknotes have primarily been replaced by national banknotes issued by central banks or monetary authorities. National banknotes are often – but not always – legal tender, meaning that courts of law are required to recognize them as satisfactory payment of money debts. Historically, banks sought to ensure that they could always pay customers in coins when they presented banknotes for payment. This practice of "backing" notes with something of substance is t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currencies Of China
The history of Chinese currency spans more than 3000 years. Currency of some type has been used in China since the Neolithic age which can be traced back to between 3000 and 4500 years ago. Cowry shells are believed to have been the earliest form of currency used in Central China, and were used during the Neolithic period. Around 210 BC, the first emperor of China Qin Shi Huang (260–210 BC) abolished all other forms of local currency and introduced a uniform copper coin. Paper money was invented in China in the 9th century, but the base unit of currency remained the copper coin. Copper coins were used as the chief denomination of currency in China until the introduction of the yuan. Currently, the ''renminbi'' is the official currency of the People's Republic of China (PRC). It is the legal tender in mainland China, but not in Hong Kong or Macau. The special administrative regions of Hong Kong and Macau use the Hong Kong dollar and the Macanese pataca, respect ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of China
The China, People's Republic of China has an upper middle income Developing country, developing Mixed economy, mixed socialist market economy that incorporates economic planning through Industrial policy, industrial policies and strategic Five-year plans of China, five-year plans. —Xu, Chenggang. "The Fundamental Institutions of China’s Reforms and Development." Journal of Economic Literature, vol. 49, no. 4, American Economic Association, 2011, pp. 1076–151, . —Nee, Victor, and Sonja Opper. "Political Capital in a Market Economy." Social Forces, vol. 88, no. 5, Oxford University Press, 2010, pp. 2105–32, . —Shue Tuck Wong & Sun Sheng Han (1998) Whither China's Market Economy? The Case of Lijin Zhen, Geographical Review, 88:1, 29-46, —Gregory C. Chow (2005) The Role of Planning in China's Market Economy, Journal of Chinese Economic and Business Studies, 3:3, 193-203, —HUA, HUANG. "The Market Economy in China." Security Dialogue, vol. 24, no. 2, Sage Publications ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of China (1912–1949)
After the fall of the Qing dynasty in 1912, China underwent a period of instability and disrupted economic activity. During the Nanjing decade (1927–1937), China advanced in a number of industrial sectors, in particular those related to the military, in an effort to catch up with the west and prepare for war with Japan. The Second Sino-Japanese War (1937–1945) and the following Chinese civil war caused the retreat of the Republic of China and formation of the People's Republic of China. The Republican era was a period of turmoil. From 1913 to 1927, China disintegrated into regional warlords, fighting for authority, causing misery and disrupting growth. After 1927, Chiang Kai-shek managed to reunify China. The Nanjing decade was a period of relative prosperity despite civil war and Japanese aggression. The government began to stabilize tax collection, establish a national budget, sponsor the construction of infrastructure such as communications and railroads, and draw u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of China (Pre-1911)
The economic history of China covers thousands of years and the region has undergone alternating cycles of prosperity and decline. China, for the last two millennia, was one of the world's largest and most advanced economies. Economic historians usually divide China's history into three periods: the pre-imperial era before the rise of the Qin; the early imperial era from the Qin to the rise of the Song (221 BCE to 960 CE); and the late imperial era, from the Song to the fall of the Qing. Neolithic agriculture had developed in China by roughly 8,000 BCE. Stratified Bronze Age cultures, such as Erlitou, emerged by the third millennium BCE. Under the Shang (16th–11th centuries BCE) and Western Zhou (11th–8th centuries BCE), a dependent labor force worked in large-scale foundries and workshops to produce bronzes and silk for the elite. The agricultural surpluses produced by the manorial economy supported these early handicraft industries as well ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiat Currency
Fiat money (from la, fiat, "let it be done") is a type of currency that is not backed by any commodity such as gold or silver. It is typically designated by the issuing government to be legal tender. Throughout history, fiat money was sometimes issued by local banks and other institutions. In modern times, fiat money is generally authorized by government regulation. Fiat money generally does not have intrinsic value and does not have use value. It has value only because the individuals who use it as a unit of account or, in the case of currency, a medium of exchange agree on its value. They trust that it will be accepted by merchants and other people. Fiat money is an alternative to commodity money, which is a currency that has intrinsic value because it contains, for example, a precious metal such as gold or silver which is embedded in the coin. Fiat also differs from representative money, which is money that has intrinsic value because it is backed by and can be convert ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hawala
Hawala or hewala ( ar, حِوالة , meaning ''transfer'' or sometimes ''trust''), also known as in Persian, and or in Somali, is a popular and informal value transfer system based on the performance and honour of a huge network of money brokers (known as ''hawaladars''). They operate outside of, or parallel to, traditional banking, financial channels and remittance systems. The system requires a minimum of two hawaladars that take care of the "transaction" without the movement of cash or telegraphic transfer. While hawaladars are spread throughout the world, they are primarily located in the Middle East, North Africa, the Horn of Africa and the Indian subcontinent. Hawala follows Islamic traditions but its use is not limited to Muslims. Origins The hawala system originated in India. Hawala as a legal concept came to be described as early as 1327, according to Schramm and Taube, though the actual practice has existed since the 8th century between Indian, Arab and Muslim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jin Dynasty (1115–1234)
The Jin dynasty (, ; ) or Jin State (; Jurchen: Anchun Gurun), officially known as the Great Jin (), was an imperial dynasty of China that existed between 1115 and 1234. Its name is sometimes written as Kin, Jurchen Jin, Jinn, or Chin in English to differentiate it from an earlier Jìn dynasty whose name is rendered identically in Hanyu Pinyin without the tone marking. It is also sometimes called the "Jurchen dynasty" or the "Jurchen Jin", because members of the ruling Wanyan clan were of Jurchen descent. The Jin emerged from Wanyan Aguda's rebellion against the Liao dynasty (916–1125), which held sway over northern China until the nascent Jin drove the Liao to the Western Regions, where they became known in historiography as the Western Liao. After vanquishing the Liao, the Jin launched a century-long campaign against the Han-led Song dynasty (960–1279), which was based in southern China. Over the course of their rule, the ethnic Jurchen emperors of the Jin dyn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Five Dynasties And Ten Kingdoms Period
The Five Dynasties and Ten Kingdoms period (), from 907 to 979, was an era of political upheaval and division in 10th-century Imperial China. Five dynastic states quickly succeeded one another in the Central Plain, and more than a dozen concurrent dynastic states were established elsewhere, mainly in South China. It was a prolonged period of multiple political divisions in Chinese imperial history. Traditionally, the era is seen as beginning with the fall of the Tang dynasty in 907 and reaching its climax with the founding of the Song dynasty in 960. In the following 19 years, Song gradually subdued the remaining states in South China, but the Liao dynasty still remained in China's north (eventually succeeded by the Jin dynasty), and the Western Xia was eventually established in China's northwest. Many states had been '' de facto'' independent long before 907 as the Tang dynasty's control over its officials waned, but the key event was their recognition as sovereign by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chinese Cash (currency Unit)
The cash () was a currency denomination used in China in imperial times. It was the chief denomination until the introduction of the yuan in the late 19th century. Etymology The English word "cash", meaning "tangible currency", is an older word from Portuguese '' caixa'' or Middle French '' caisse'' ("box", or "case"). The term was first used on coins issued in Kwangtung (Guangdong) Province in 1900. It did not appear on paper money until later. The plural forms "cash" and "cashes" were both used. The Chinese character ''wen'' () has several other meanings in modern Chinese History The ''wén'' was one of the chief units of currency in China and was used to denominate both coins and paper money. Other denominations were used, including various weights, based on the ''tael'' system, for sycee silver and gold ingots. Until the 19th century, coins denominated in wen were cast, the most common formation being the round-shaped copper coin with a square or circular hole in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
