PAPER MONEY

ORIGINALLY...

• Originally called flying money
• The Chinese used copper as currency first
• The money was so light it could fly out of your hands

SPREADS

• Copper became scarce merchants also started to use paper money
• Paper certificates exchanged for cash
• Cash went to customers and other merchants

SONG GOVERNMENT

• In 1024 the song government took over
• Began to issue official certificates used as currency
• Marketplace developed a checking system

PAPER MONEY AND THE CHECKING SYSTEM SPREAD TO THE REST OF THE WORLD.