The Chinese Liang Or Ounce Of Silver Is Valued Commonly At 6s. 7d., Say Roundly 80d.[1] But The Relation Of Gold And Silver In Civilized Asia Was Then (See Ch.

I. note 4, and also Cathay, pp.

Ccl. and 442) as 10 to 1, not, as with us now, more than 15 to 1. Wherefore the liang in relation to gold would be worth 120d. or 10s., a little over the Venetian ducat and somewhat less than the bezant or dinar. We shall then find the table of Chinese issues, as compared with Marco's equivalents, to stand thus: -

CHINESE ISSUES, AS RECORDED. MARCO POLO'S STATEMENT.

For 10 ounces of silver (viz. } the Chinese Ting)[2] } 10 bezants.

For 1 ounce of silver, i.e. 1 liang, } or 1000 tsien (cash) } 1 "

For 500 tsien . . . . . . 10 groats. 200 " . . . . . . . 5 " (should have been 4). 100 " . . . . . . . 2 " 50 " . . . . . . . 1 " 30 " . . . . . . . 1/2 " (but the proportionate equivalent of half a groat would be 25 tsien). 20 " . . . . . . . 10 " . . . . . . . 1 tornesel (but the proportionate equivalent would be 7-1/2 tsien). 5 " . . . . . . . 1/2 " (but prop. equivalent 3-3/4 tsien).

Pauthier has given from the Chinese Annals of the Mongol Dynasty a complete Table of the Issues of Paper-Money during every year of Kublai's reign (1260-1294), estimated at their nominal value in Ting or tens of silver ounces. The lowest issue was in 1269, of 228,960 ounces, which at the rate of 120d. to the ounce (see above) = 114,480l., and the highest was in 1290, viz.

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