480 DAVIS. 



Notes of ten different denominations were issued in the Yung-hui 

 Era of Kao-tsung, all of them yellow in color. At the top of each is 

 inscribed "Great T'ang Treasure-Note"; in the middle, the denomi- 

 nation of the note, e. g., 1 kwan, 5 kwan, 10 kwan, etc.; and directly 

 below appears a picture representing (a string of) ch'ien (cash) 

 proportionate in value to the denomination of the note, e. g., 1 kwan, 

 1000 ch'ien; 5 kwan, 5000 ch'ien, etc., etc. At the bottom is in- 

 scribed: "The Board of Revenue,* having received the Imperial 



Decree, prints the Treasure-Note to be used as cash, etc , on 



the day, month, year of Yung-hui." On 



the surrounding border is a design of dragons and clouds. Each of 

 the ten notes is stamped similarly above with a square seal with the 

 characters "Printed Treasure Note", and below with another square 

 seal which reads: "The Seal of Yung-hui of the Great T'ang". On 

 the back of these notes there is neither pattern nor seal. 



These Kao-tsung notes came, with the subsequent issues of differ- 

 ent eras — seven in all — from the collection of the Tung Family. 

 How fortunate it was to have acquired them! The excellence of 

 their workmanship, so distinguishable from the rest, surpasses that 

 of all other paper money. Whether or not there were any notes 

 emitted in the time previous to the Kao-tsung is not known. 



Plate 1. Yung-hui (650-655 A. D.) Note. 

 Translation of the inscriptions. 



First line: "Great T'ancj Treasure-Note.'^ 



Second line: "One Kwan." 



Illustration: (Pictorial representation of 1000 ch'ien in one string). 



The vertical columns in the lower panel : 



" The Civil Board, having received the Imperial Decree, prints and 

 issues under the heavens f the Great T'ang Trcasnre-Note to be used as 

 cash. The counterfeiter shall be decapitated summarih/ in punishment 

 for the crime; the first informant shall be given 12 taels in silver. 



Yung-hui, . . . .year, .... month, . . . .day, emitted." % 



* On the actual note it saj-s "Civil Board" instead of "Board of Revenue," 

 hence the latter must be a misprint. The Chinese characters for "civil" and 

 for "revenue" are somewhat alike. K. T. 



fin the actual inscription this phrase "issues vmder the heavens" comes 

 after the word "silver" at the very end of the sentence. K. T. 



I The word here used literally means "act". K. T. 



