First Paper Money Used WHERE The first paper money was used in China. In 1455 AD the chinese government abandoned paper money and notes appeared in Europe and America in the mid 1600’s. The US paper money was printed in order to finance the revolutionary war. It wasn’t until 1816 with the introduction of the gold standard in England that paper degree was assigned a discrete value.

First Paper Money Used WHEN Paper money was first used in China and was also called “the flying money” in Tang dynasty. It was used between merchants and was used because the coins used before the paper money invented was very heavy for rich merchants.

First Paper Money Used WHAT A paper money is a by-product of chinese block printing. The 2 main advantages of paper money are copper and iron. It was easy to carry the copper. In the paper there are numbers across the edges, which is written by the government.

First Paper Money Used WHO Long time ago people weren’t using paper money, they used gold. Meanwhile the ancient Chinese came up with the idea of using paper money. In 1455 the Chinese government banned paper money.

First Paper Money Used Why They want to have paper money than gold because it is was easier to carry than gold and because they want to save metal. It is also much heavier to carry bags full of gold than paper money.

First Paper Money Used HOW The Chinese people came up with the idea of having paper money. When the government abandoned paper money in 1455 paper money is almost everywhere around the world in the 1600’s.