The Monetary System Of The Yuan Dynasty Seen From The Document Unearthed In Heicheng

Heicheng is located in the Ejina Banner, Alashan League, Inner Mongolia, China, wherethe ruins of the Heishui Town of the Western Xia Kingdom and that of Yijinai Province of theYuan Dynasty remain. During 1983-1984, the local archaeological team had two large-scaleexcavations to unearth a large quantity of documents, most of which are records of the YuanDynasty. Li Yiyou studied the documents in the Chinese Han language and had thempublished by the Science Press in 1991 with the title "Heicheng Chutu Wenshu"(TheDocuments Unearthed in Heicheng, the Volume of Documents in the Chinese Han language).This study investigates into the three notes printed with "Du Ti Ju Wan Yi Bao YuanKu"in Collection XIV "Notes"on Page 183 of the book. With the help of relevant historicaldata and the document Salt Bill and Cang Bill, the three notes are studied, including theirprinting years and contents as well as their natures and the monetary system and thefinancial condition they reflect. The conclusion is as follows. The printing time is inferred that,according to the historical data. According to the monetary system of the Yuan Dynasty andthe historical data of the currency of the Song and Jin Dynasties, a textual research isperformed on the contents of the notes including"Du Ti Ju Wan Yi Bao Yuan Ku"",Zhi YuanChao Shi Ding","Wei Lan Duan Shao","Jian Chao Si Ku","Ti Diao Guan"and the scarletseal on the notes. On the basis of Li Yiyou's study and in light of Salt Bill F126:W2 and CangBill F105:W5 and the historical data, it is proven in the further research that the notes are"notes" in nature. A textual research is performed on the development, evolution and functionin monetary system as well as its influence on paper money and its printing and issuing.Based on the research above, the paper investigates into the reason for the imbalance betweenthe financial revenues and expenditures in the Yuan Dynasty which is reflected in thediversion of notes as well as the inflation it brings to the society.All in all, the study determines the printing times, contents and nature of the three notesas well as the monetary system and financial conditions, proves that they are "notes" andreveals the truth that the royal government printed and issued notes in the middle and laterperiods of the Yuan Dynasty, which confirms the records in the History of the Yuan Dynastythat the government printed and issued notes many times in the middle and later periods of theYuan Dynasty for making up the deficits and which provides precious evidences and firsthandmaterials for the study of the financial condition in the middle and later periods of the YuanDynasty and proves to be of special value in the study of the economy and inflation of theYuan Dynasty.