Laughing Stock of the Ming The Amusing Tale of Chi
The Birth of Paper Money: An Accident Waiting to Happen
In the early 15th century, China was in dire need of a new form of currency. The traditional copper coins were cumbersome and prone to being counterfeited, while silver ingots were expensive and not widely used. In response, a group of merchants from the city of Jining came up with an innovative solution – paper money.
The first batch of paper money was created by mixing mulberry bark with water and then bleaching it in the sun. The resulting material was strong yet lightweight, making it an ideal substitute for copper coins. Initially, the paper money was only accepted within Jining but soon spread throughout China as its popularity grew.
Early Printing Techniques: A Laborious Process
However, printing this paper money wasn't as easy as one would think. The process involved hand-carving intricate designs onto wooden blocks before applying ink and pressing them onto sheets of mulberry bark paper – a labor-intensive process that took months to complete.
To make matters worse, each sheet had to be carefully inspected for any imperfections or signs of wear before being deemed fit for use as currency. It's no wonder that counterfeiters saw this vulnerability as an opportunity to strike gold (or at least silver) – their fake bills could easily pass off as genuine ones since they looked almost identical.
Counterfeiters Run Amok: Chaos Ensues
As expected, counterfeiters began producing their own versions of these valuable papers using cheaper materials like rice paste mixed with water or even just plain old hemp fibers dipped in black ink.
Their fake bills flooded the market causing chaos among merchants who couldn't distinguish between real and fake anymore leading many honest business owners into financial ruin due to accepting these worthless pieces-of-paper-money which made it difficult for people trust each other during transactions
From Paper Money To Copper Coins Back Again
Eventually realizing how ineffective this experiment had been against inflation caused by over-issuance coupled with rampant counterfeiting; Emperor Zhu Di ordered all existing notes recalled from circulation replacing them once more with copper coins along side some limited issues on silver rounds called "jiaozi" instead because they were less susceptible than cash itself
5 Conclusion - Laughing Stock Of Ming Empire
Looking back now at what transpired during that time period we can say without hesitation that introducing such an unstable means-of-exchange has indeed earned us quite embarrassing title - Laughing Stock Of Ming Empire
