1SG0.] Asiatic Sovereigns and Paper Currency. 185 



those who have gold, silver, cloths of silk and gold, or other precious 

 commodities, to bring them to him. Then he calls twelve men 

 skilful in these mutters and commands them to look at the articles 

 and fix their price. Whatever they name is paid in these cards, 

 which the merchant cordially receives. In this manner the great 

 sire possesses all the gold, silver, pearls and precious stones in his 

 dominions. When any of the cards are torn or spoiled, the owner 

 carries them to the place whence they were issued, and receives fresh 

 ones, with a reduction of 3 per cent. If any man wishes gold or 

 silver to make plates, girdles or other ornaments, he goes to the 

 office, carrying a sufficient quantity of cards, and gives them in 

 payment for the quantity he requires. This is the reason why the 

 Khan has more treasure than any other lord in the world ; nay, all 

 the princes in the world together have not an equal amount." 



It has been sometimes said that Marco Polo saw only the court 

 and the servile obsequiousness of the courtiers ; but this is by no 

 means the case. He continually mentions in the course of his travels 

 the fact of the paper currency in the provinces. Thus in Chap. 56, 

 (eh. 49 in Marsden) in his account of Cjn-gui (Chintigui in Mars- 

 den,) he says, " they have no money except paper," and in that of 

 Ca-cian-fu (Pazafu in Marsden.) more than two months' journey dis- 

 tant from Cyn-gui, " they are subjects of the Grand Khan, and his 

 paper money is current among them." Again in Chap. 60 (ch. 50 

 and 51, Marsden,) we have the same remark made about the cities of 

 Sin-gui and Cin-gui, which are described as " full of merchandise and 

 arts and paying a large revenue to the sovereign." Again in Chap. 

 64 in describing the province of Pau-chym, we have, " the people are 

 artificers and merchants, and have abundance of silk ; through all that 

 country the Khan's paper money is circulated." Beside these, there 

 are at least a dozen similar allusions in his travels through various 

 parts of the empire. 



There doubtless may be some exaggeration in his narrative ; but 

 the very fact of the system's continuance seems to prove that it was 

 by no means the oppressive system which it appeared to foreigners, 

 and in which character indeed it possessed such attractions to the 

 grasping despots of Persia and India. 



The substance of Marco Polo's account is amply confirmed by the 

 very similar narrative of Ibn Batiita, who visited the same court 



