The Truth About Flying Money in the Tang Dynasty: The Germination of Paper Money Ideas and the Flourishing of the Credit Industry in the Tang Dynasty
In the prosperous era of the Tang Dynasty, a seemingly simple but far-reaching financial innovation, Feiqian, was quietly born. This innovation not only brought great convenience to commercial activities at that time, but was also regarded by later generations as the germ of the idea of paper money, which promoted the vigorous development of the credit industry in the Tang Dynasty. This article will delve into the truth about flying money and how it became an important driver of the development of the credit industry in the Tang Dynasty.
1. The origin and characteristics of flying money
Flying money, also known as "convenient exchange" or "convenient money", was a commercial exchange method that emerged in the middle of the Tang Dynasty. The operation method is roughly as follows: the merchant gives the money to the army, the envoys, or the "Jinjuin" set up in the capital, and exchanges it for a voucher that records the amount of money and the place where it was withdrawn, that is, flying money. Merchants use this voucher to withdraw money at a designated place in another place, thus avoiding the trouble and risk of carrying a large number of coins over long distances.
The emergence of flying money was first of all due to the economic prosperity and active commercial activities of the Tang Dynasty. As the commodity economy continues to grow, merchants need to trade frequently across regions, and carrying large quantities of coins over long distances is not only inconvenient, but also faces the risk of theft or loss. The birth of Flying Money just solves this problem, enabling businessmen to travel lightly and conduct business activities safely and conveniently.
Second, the germination of the idea of flying money and paper money
The way flying money works is actually already some of the basic characteristics of paper money. Although the flying money itself is not a paper money, it achieves the transfer of the value of money through a single voucher, which is similar in essence to later paper money. Therefore, it can be said that flying money was the germ of the idea of paper money, which laid the foundation for the later paper money system.
Under the influence of flying money, the credit industry in the Tang Dynasty began to flourish. Merchants have come to value credibility and prestige because these factors have a direct impact on whether or not they can successfully use flying money for business. At the same time, the government has also begun to pay attention to the construction of the credit system, and has enacted relevant laws and systems to ensure the smooth progress of business activities. Together, these measures contributed to the prosperity of the credit industry in the Tang Dynasty.
3. The impact of flying money on the credit industry in the Tang Dynasty
The emergence of flying money had a profound impact on the credit industry in the Tang Dynasty. First of all, it improves the efficiency and safety of business activities. Merchants no longer need to carry large amounts of coins over long distances for trading, but instead transfer the value of money by flying money. This not only reduces the burden and risk for businessmen, but also speeds up the pace of business activities. Second, flying money promoted the expansion and prosperity of commercial trade. Due to the reduced transaction cost and time cost of flying money, merchants are more willing to conduct cross-regional and even cross-border trade activities. As a result, the scope of commercial trade in the Tang Dynasty continued to expand, and commercial activities became increasingly prosperous. Finally, Feiqian promoted the improvement and development of the credit system in the Tang Dynasty. Businessmen began to pay attention to the accumulation and maintenance of credibility and prestige, which was conducive to the formation of a good business environment and market order. At the same time, the government also enacted relevant laws and systems to ensure the smooth conduct of commercial activities, which further promoted the improvement and development of the credit system in the Tang Dynasty.
Fourth, the influence and enlightenment of flying money on future generations
As a financial innovation of the Tang Dynasty, although flying money has long been history, its impact on later generations is far-reaching. First of all, flying money provided an important ideological foundation and practical experience for the birth and development of the paper money system in later generations. During the Song Dynasty, the world's earliest paper money, Jiaozi, officially appeared in China, marking a major change in China's monetary system. Secondly, Flying Money also enlightens us that financial innovation is one of the important driving forces for economic development. In today's society, financial innovation is still one of the important means to promote economic development. We should continue to promote financial innovation to better serve the economic and social development.
In short, the truth of flying money in the Tang Dynasty was not only the germ of the idea of paper money, but also an important reason for the vigorous development of the credit industry in the Tang Dynasty. Through an in-depth discussion of the origin, characteristics and impact of flying money on the credit industry in the Tang Dynasty, we can better understand the economic prosperity and commercial development of the Tang Dynasty, and also provide useful inspiration and reference for financial innovation and economic development in today's society.
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