His conduct in connection with the
bank failures was so bitterly resented that when the poor wretch was led
to execution (8th November, 1861), as I learn from an eye-witness, the
defrauded creditors lined the streets and cheered.[4]
The Japanese also had a paper-currency in the 14th century. It is
different in form from that of China. That figured by Siebold is a strip
of strong paper doubled, 6-1/4 in. long by 1-3/4 in. wide, bearing a
representation of the tutelary god of riches, with long inscriptions in
Chinese characters, seals in black and red, and an indication of value in
ancient Japanese characters. I do not learn whether notes of considerable
amount are still used in Japan; but Sir R. Alcock speaks of banknotes for
small change from 30 to 500 cash and more, as in general use in the
interior.
Two notable and disastrous attempts to imitate the Chinese system of
currency took place in the Middle Ages; one of them in Persia, apparently
in Polo's very presence, the other in India some 36 years later.
The first was initiated in 1294 by the worthless Kaikhatu Khan, when his
own and his ministers' extravagance had emptied the Treasury, on the
suggestion of a financial officer called 'Izzuddin Muzaffar. The notes
were direct copies of Kublai's, even the Chinese characters being imitated
as part of the device upon them.[5] The Chinese name Chao was applied to
them, and the Mongol Resident at Tabriz, Pulad Chingsang, was consulted in
carrying out the measure.
![The Travels Of Marco Polo - Volume 1 Of 2 By Marco Polo And Rustichello Of Pisa
- The
Regent had led the Emperor [Hien Fung] systematically into debauched
habits which ended in paralysis. On the Emperor's death - Page 1188](../images/travel.jpg)
