Harrassowitz Verlag

PAPER CURRENCY IN IRAN: A contribution to the cultural and economic history of Iran in
the Mongol Period

Author(s): KARL JAHN
Source: Journal of Asian History, Vol. 4, No. 2 (1970), pp. 101-135
Published by: Harrassowitz Verlag
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KARL JAHN
(Leiden)
PAPER CURRENCY IN IRAN
A contributionto the cultural and economichistory

*
of Iran in the Mongol Period
INTRODUCTION
In the historyof the world the empire of Chingiz-Khān formedthe

firstreal link between the Far East on the one hand and the Near East
and Europe on the other. Although in ancient times and during the
early Middle Ages therehad been certaincultural contacts betweenthe
two worlds,1these were of slight significancecompared with the rela-
tions established in the 13th centuryA. D..
Most great deeds involve equally great sacrifices.Chingiz-Khān's
conquest of the world broughtin its train bloodshed and the destruc-
tion of much that was of culturalvalue, but these very sacrificescan in
a way be regarded as necessary forthe subsequent relative prosperity
* RevisedEnglishtranslation of "Das iranischePapiergeld.Ein Beitragzur

Kultur-und Wirtschaftsgeschichte Irans in der Mongolenzeit", ArchivOrien-
, X, (1938),pp. 308- 340.
tabili
1 a) Oncontactinancienttimesseeespecially F. Hirth'sChinaandtheRoman
Orient. . . (Shanghaiand Hongkong,1885); A. Hermann'sarticle"Seres",in
Pauly's Realenzyklopädie ; the same author'sDie altenSeidenstraßen zwischen
ChinaundSyrien(Berlin,1910),and Das Land derSeideund TibetimLichteder
Antike , Quellenund Forschungen . . .1, (Leipzig,1938).
b) On theIslamo-Chinese relationssee M. Hartmann 's article,"China",in
EI (Leiden,1913),p. 881ff.; G. Ferrand'sRelations devoyages ettextesgéographi-
ques arabes, persanset turcsrelatifs à VExtrêmeOrientdu Ville au XV II le
siècles(Paris,1913); Th. F. Carter,The Invention of Printingin Chinaand its
Spread Westward (New York, 1955), second editionrevisedby L. C. Goodrich.
Copiousmaterialon thisthemeis also to be foundin Denis Sinor'sexcellent
Introduction à Vétudede VEurasieCentrale (Wiesbaden,1963),p. 199ff.

102 KARL JAHN
whichwas enjoyed, chieflyby the western,Mongol parts of the realm.2

At that time Europe also had its share in this prosperityif we dis-
count the damage inflictedon those districtswhere cultural develop-
mentwas as yet not veryfar advanced. The European horizon,already
considerably widened during the period of the Crusades, was now
suddenly extended to an astonishingdegree by the exploit of a nomad
leader- an exploit that was carried far beyond the original intention
and whose significancefor the futurehistoryof the world was never
rightly comprehended.3The almost insurmountablebarrier built up
by Islam between the two worlds in the course of six centurieshad
been breached, though it is true that this state of affairswas only to
last forthe short space of a hundred years. During this century,how-
ever, close contact between East and West was established, thanks
mainly to the simple, purely rational world-philosophyof the Mongol
rulers.The Iranian empireof the Ilkhāns plays a highlyimportantpart
as intermediaryin this vast process of interchange.Being in a constant
state of bitterhostilitytowards the orthodox Islamic world, of which
the Mamelukes of Egypt regarded themselves as the exponents, it
succeeded in maintainingcontact with the Far East, at the same time
winning over the kings of Europe as its allies.4 During the reigns of
Hūlāgū's successors,Iran stood open and receptiveto the influencesof
Central and East Asia as it had never done before and was never to
do again to a comparable degree in the centuriesto come. These in-
fluencesmanifestedthemselvesmoststronglyin the worldof commerce.
In addition to this however- if we leave the exact sciences and picto-
2 Here I have in mindthe IranianEmpireof the Ilkhānsand the Golden
Horde.In additionto the olderwell-known historicalworksof M. D'Ohsson,
J. v. Hammer-Purgstall and M. H. Howorth,cf.thebasicresearchofW. Bar-
tol'd,J. A. Boyle,R. Grousset, B. Spuler,I. P. Petruševskij, Z. V. Toganand
B. Ya. Yladimircov.The pertinent bibliographicaldata are to be foundin D.
Sinor'sIntroduction. . ., p. 310ff.
3 On Chingiz-Khan's campaignto the west,cf. W. Barthold'sTurkestan
downtotheMongolInvasion, GibbMemorial Series,NewSeries,Vol.V, p. 393if.,
and thesameauthor'sstriking characterizationofthepersonsofChingiz-Khān
andTimurinhis UluģBeg. . .,p. 50- 51; further B. Vladimircov, Chingis-Khãn ,
English translationby D. S. Mirsky, (London, 1930), p. 114ff.
4 Cf.Abel-Rémusat, "Mémoires surles relationspolitiquesdes PrincesChré-
tienset particulièrement des Rois de France avec les EmpereursMongols",
publishedin: Mémoiresde VAcadémieRoyaledes Inscriptions et Belles-Lettres,
Vol. VI, (1821),p. 396, and VII (1822),p. 335; forfurther researches on the
subject,cf.Sinor,op. cit.,pp. 315- 16.

PAPER CURRENCY IN IRAN 103
rial arts out of consideration- the economic and practical spirit of

the Central and East Asian conquerors (who were,as is known,mostly
Turks with only a few Mongols and East Asiatics) acquired a grip on
the literatureand leftits mark upon it. To explain the compositionof
Rashîd al-Dïn's masterpiece and the other great historical works on
the one hand, and the relatively small number of lyrical productions
on the othersolely by the lack of a patronage such as formerlyexisted,
would in my opinion amount to ignoringthe very remarkablespiritual
and intellectualchangesthat werethentakingplace in Iran. An extended
treatmentofthisproblemis not feasiblehereas it would requirea defini-
tive sifting,
examinationand editingofthewholeoftherelevantmaterial.
The followingpages will discuss an event in the historyof Mongol
Iran5 to which great importance, particularly economic, must be
attached. This event, the introductionof paper currency,drives home
to us, as perhaps does no other,the directinfluenceof the Far Eastern
world. It is true that various essays have already been writtenon this
bold experiment,including the still authoritativeEuropean historical
workson the Mongol period by M. D'Ohsson,6 and Josefvon Hammer-
Purgstall,7as well as that of H. H. Howorth,8which is in the nature of
a compilation,but in none of these do we findthe subject treated with
the amount of detail that its importance would seem to justify,nor
with sufficientdata and citations derived fromsources then still only
partly accessible.
5 A criticalsurveyofsourceson theMongolperiodis
givenby B. Spulerin
his article"Quellenkritik zur Mongolengeschichte Irans" in ZD MG, V. 92,
(1938),pp. 219-43.
6 M. D'Ohsson,Histoiredes Mongols(La
Haye et Amsterdam, 1835),Vol.
IV, p. 100- 106. But even earlierthan this historian,L. Langlèsmentioned
Gaykhatù'spaper currencyand at the same time publishedthe pertinent
portionof Khvāndamīr's"Habib al-siyar"in translationin Mémoiresde la
classede littératureetdesbeauxartsde VInstitut. . ., Vol. IV, p. 115ff.
7 Josefv. Hammer-Purgstall, Geschichte derIlchanein Persien(Darmstadt,
1842),Vol. I, p. 104- 105,and Supplement No. 4, p. 423.
8 H. Howorth, History oftheMongols , (London,1888),Vol.III, pp. 370- 372.
I shouldalso liketo drawattention to theaccountsofthepapercurrency emis-
sionby Françoisde Saulcyin hisarticle"Sur quelquespointsde la numismati-
que orientale", JA, 3e série,vol.XIII, p. p. 122- 128,whichis basedon Rashīd
al-DīnandBar Hebraeus;seealso E. Drouin'streatise"Noticessurlesmonnaies
mongoles", JA, 9e série,vol. VII, pp. 526- 7; SirJohnMalcolm'sTheHistory
ofPersia . . . Vol. I (London,1815)pp. 430- 36; and E. G. Browne'sLiterary
HistoryofPersia, Vol. Ill (Cambridge, 1928),pp. 37- 38.

104 KARL JAHN
HYPOTHESES
The object of the Iranian paper currencyemissionin the year 1294,

like that of the Chinese emission at the time of Qubilay, was to allow
the whole stock of precious metal in the country to flow into the
treasury of the State, at that time denuded of all ready money, and
thus to ensure the complete independence of the government,politi-
cally and economically.Nevertheless,one of the most authoritativeof
contemporary historians, Vassāf, overlooking the real reason, con-
siders the emissionof bank-notesto have been motivated by a series of
factorsthat led to a political and economic collapse. Because Vassāf's
views provide us withan extremelyilluminatingpictureofthe domestic
political relations within the empire of the Ilkhāns during the paper
currencyexperiment,they should be presentedhere.
There were four main motives, says Vassāf, forthe introductionof
paper currency.9In briefthey are the great mortalityamong cattle
after the death of Arghūn-Khān; the depletion of the State treasury
caused by the change of governmentof the Khāns and the lavish
sums expended upon the army; the innate generosityof Sadr al-Dīn
which moved him to bestow extravagantly high salaries and gifts in
order to curryfavour with every one ; and finallythe careless attitude
and lack of a sense of proportiondisplayed by the Ilkhāns with regard
to giftsand economic situations.
The firstmotive, the great cattle epidemic, designated throughout
in the sources by the Turkish-Chagatay expression "yūt",10 and
duringwhich the herds stationed in the provincesof Baghdād, Mawsil,
9 TaWlkh-iVassāf, Bombayeditiondated 1269 (= 1852),p. 271, and the

pertinent partin Mīrkhvānd's Raudatal-safã,publishedby F. v. Erdmannand
translated by C. Defrémery in JA,4thseries,II, p. 286if.,quotedin thepresent
essay withoutfurther details;and the same workin the Indian lithographed
editionof1883,Vol.V, p. 124,herereferred to as Ind. ed.; also in Khvāndamīr's
Habibal-siyar , lith.ed., (Tehran,1855),p. 79.
10Cf. W. Radioff,Versucheines Wörterbuchs der Türk-Dialecte,Vol. III,
(St. Petersburg, 1905),p. 560.Themeaning ofthisword,designated as Mongolian
by Vassāf,Mīrkhvānd and Khvāndamīr, and occurring in Old Turkic,Uighur
and Chagatay,is originally, as in modernTurkish,"deep snow" and "frost
occurring inthespringafterthethawhas setin "whichcausedmortality among
the cattle,thereafter beinggiventhesignification ofthecattlemortality itself.
Curiously enough thereis nomention ofthisextensive epidemic in Rashid al-Dïn.

Diyar Bakr and Khurāsān were particularlyhard hit,11does not at a

firstglance appear to have been of great importance.Yet when one re-
membersthat in most cases these animals representedthe total fortune
of the soldiers,who like theirKhāns lived in nomad fashionand were
recruitedfromMongols and Turks, while their pay, if one can call it
such,12was at that time frequentlyconspicuous by its absence, then
one has to agree with Vassāf as to the serious effectsof such a catas-
trophe on the State. The further causes- mentioned not only by
Vassāf but also by otherhistorians- will be discussed in detail in the
followingshort attempt at a characterization of the persons of Gay-
khātū and his vizier.
Abāqā-Khān's second son Gaykhātū-Khān13 was about thirty14
years ofage when,on the 24 Radjab 690 A. H. (23 July 1291),he ascend-
ed- albeit none too willingly15 - the throne of Hūlāgū at Akhlāt.16
The ceremonialcoronationwas to followafterhis returnfromRūm, in
the summer camp of Alātāgh on the 12 Radjab 691 (29 June 1292).
Before his accession he had been engaged as governorof the province
of Rūm (embracing only Eastern Anatolia) which had been under
Mongol supremacy only since Hūlāgū. To judge by the general silence
on this point in the sources, he does not appear to have distinguished
himselfthere to any remarkable extent. But that his clemency and
11Onlyin Vassāf,op. cit.,p. 271. The expression employedthere,mavāshi ,
designatedquadrupedsin general,but especiallysheepand camels.
12OnlyfromthetimeofGhāzānonwardsdo we hearanything aboutofficial
regulationsas to pay and pensions for the army.
13On thenameGaykhatùsee Howorth, op. cit.,III, p. 357.The lateV. Kot-
viczwasso kindas to inform methattheoldformofthenamewas Gayikhagatu,
butwas pronounced Gaykhatùas earlyas the 13thcentury. The name,derived
fromtheMongolverbgayikha , i.e. "to be surprised, astonished", possessesthe
meaningof "thewonderful one".
14In all the MSS the unitfigurein thedateofGaykhâtù'sbirthis missing,
but he musthave beenbornbetween640 and 650 A.H.. Prof.J. A. Boylehas
kindlysentme someinformation according to whichGaykhâtùwas bornabout
1259.In theyear1291he was therefore approximately 32 yearsold.
15Continuer ofBar Hebraeus citedafterE. A. W. Budge'stranslation:The
Ghronography of .. . Bar Hebraeus , Vol. I, Englishtranslation(Oxfordand
London,1932),p. 492. Cf.Vassāf,loc.cit.,p. 267.
16Cf.Ta'rlh-i-mubārak-i -GãzãnldesRašld al-Dïn,Geschichte d. IlhāneAbāģā
-
bis Gaihātū(1265 95), ed. K. Jahn(The Hague2),p. 81 (Persian);FazlullãJch
Rashldad-Din. Jāmi'-at-Tavārlkh, Vol. Ill, (1957),ed. 'A. 'Alīzādah,p. 230
(Persian).The date of his accessionto the throneis not indicatedby Vassāf,
Mīrkhvānd or Khvāndamīr.Cf.also D'Ohsson,loc.cit.,IV, p. 83.

106 KARL JAHN
particularly his generosityhad already won for him a large circle of

trustworthyadherents is quite evident fromthe subsequent course of
events.17
The stability of the Ilkhān empire,put to the test especially during
the latter years of the reign of Abāqā-Khān's younger son, Arghūn-
Khãn, and as a result of the despotism of his omnipotent minister
Sa1d al-Daula, as well as by the continuous disturbances after their
deaths (March 1291), was seriouslyendangered by the election of this
man, devoid as he was of any of the virtuesof a rulerand whollyindul-
-
gent ofhis passions and weaknesses.18That Ghāzān-Khān (1295 1304)
the only one among Hūlāgū's successorswho showed a true genius for
statesmanship, succeeded in concentrating unlimited power in his
own hands forthe rest of his life,but only aftera strugglewhich lasted
four years, cannot be explained except by his use of the most radical
measures and remedies.19These were absolutelynecessarysteps which,
though in the eyes of many made Ghāzān appear bloodthirstyand
cruel, neverthelessformed the basis for the furtherconsolidation of
the Mongol empire in Iran which was to endure for fiftyyears. A
domestic political crisis, such as that of the year 1294, would hardly
have been conceivable in the systematically and stronglycemented
and strictlyorganized state of Ghāzān, at any rate during the latter
part of his reign. Neither could such a bold undertakingas the intro-
duction of paper currencyhave been a succès, in my opinion, not
only for reasons of good sense and responsibilitybut also because,
with the loosening of the ties with the Far East, indeed with Ghāzān's
17EmirTaģhāchār©vendeclareshimself to be againstthe electionof Gay-
khātūon accountofhisretinuewhichformed a menaceto theinterestsofhim-
selfand the otheremirs.AmongGaykhâtù'sfollowers werethelatergeneralis-
simoAqbùqa and the emirsHasan and Tâyjù. Cf. Rashīd al-Dïn,Abāģābis
Gaihātū,ed. Jahn,p. 83; 'Alīzādah,op. cit.,p. 233 (Persian).
18One singlesource,the biographyof the patriarchMar-YabalahaIII
(Syriaced. of P. Bedjan,2nded., [Paris,1895],p. 98, and Englishtranslation
by JamesA. Montgomery, [New York, 1927],p. 75ff.)speaksveryhighlyof
Gaykhatû.But thisis probablybecauseGaykhâtû, theBuddhist,favouredthe
Christiansout ofantipathytowardsIslam.
19The numberofexecutionsduringthefirstyearsofthereignofGhāzānis
unusuallyhigh.As is known,thisfatebefellSadral-Dinrelatively late.Afterhe
had againbecomevizierfora shorttime(1297)afterthefallofhisgreatadver-
saryEmirNourùz,he was convictedof intriguing againstRashīd al-Dīn and
EmirQutlughshâh by Ghāzānhimself in thefollowing year(1298)and executed
withoutanyformoftrial,cf.Howorth,op. cit.,426- 27.

conversionto Islam and the renewedirresistibleprogressof the Islamic

idea, an understandable aversion to the heathen East arose. After
his change of faith in the year 1295, which incidentally strengthened
his positionto an unusual degree,Ghāzān was able, and in fact obliged,
to renounce20the ceremonial confirmationof his officeby the Great
Khān, an honor that had fallen to the share of neitherGaykhätü nor
Bay dû on account of the short duration of their respective reigns.21
Though this was evidentlyno reason forhis relations with the East to
become hostile- on the contrary,Ghāzān, with his expert knowledge
ofthe historyofhis orientalforefathersand respectfortheirinstitutions,
always managed to maintain a friendlyattitude- the unprecedented
cultural and economic liberalitywe read of in the period of his prede-
cessors finallycame to an end.
One of the chief causes of the heavy debts incurredby the Ilkhan
empire duringthe reignof Gaykhātū-Khān was the prodigalityof this
rulerand his ministers,and on this point all the contemporarysources
are in agreement.22There is no doubt that one must see in this fact, as
did the Iranian historians,a compelling,if only an indirectmotive for
the emissionof paper money.As has been stated above, the land and its
people had sufferedseverelyunder the thumb-screwof taxation levied
by Arghūn-Khān's Jewish minister,Sa'd al-Daula, while on the other
hand the state treasuryshowed a very satisfactorystate of affairs.On
one occasion Vassāf mentionscash reservesto the value of a thousand
tūmānyi. e, ten million dinārs.23Of this enormous sum and the other
20Cf.Howorth,op. cit.,p. 486. Judging by thestampofan Ilkhānwriterof
theyear1305- it represents an impression of the GreatSeal receivedby the
Ilkhān fromhis overlord,the GreatKhān- it wouldappearthatGhāzānwas
notentirelyindependent. Cf.Th. F. Carter,TheInvention . . ., p. 127andp. 237,
note 1.
21The completeabsenceof any reference to sucheventson the partofthe
historians
is sufficientevidence.
22Rashïdal-Dinand Vassāf,op. cit.,p. 27Iff.and examplesto followin the
text; Hamd-AllāhĶazvīnī, Tďrlkh-i-Guzldah , ed. E. G. Browne,p. 590, and
the continuer of Bar Hebraeus,op. cit.,p. 496, explainthe necessityforthe
introduction of paper currencysolelyby the extravaganceof Gaykhätüand
Sadr al-Dīn.Neitherin theGeorgiansources(setforthin M. Brosset'sHistoire
dela Géorgie
, St. Petersburg,1849- 58) norinHaythonofGorhigos is Gaykhätü
morethanjust mentioned by name.For thisinformation I am indebtedto my
colleagueProf.B. Spuler.
23Vassāf,op. cit.,p. 271. On Sa'd al-Daula's activityas tax-collector cf.
Howorth,loc.cit.,p. 331- 332.

108 KARL JAHN
treasures Arghūn-Khān had amassed and stored in Sughûrlûq, but

little was passed on to Gaykhâtû, for afterArghūn's death the whole
of the loot probably found its way into the hands of the seditious
emirs. "And if anything was left of Arghūn-Khān's wealth", writes
Rashīd al-Dīn, "he (Gaykhâtû) gave it to the people".24 There is no
reason to doubt the truthof the words Rashīd devotes to this subject
in the course of his very objective and instructiveexposition of Ghā-
zān-Khān's economic and cultural measures. In order to obtain any
sort of concrete idea of the sums squandered by Gaykhâtû and Sadr
al-Dīn, it is necessary to returnto Vassāf 's history.It is still true that
factsstated in this source mustbe viewed withsome caution on account
of the historian'sknown tendencytowards extenuation and exaggera-
tion. It is Vassāf too who is ofthe opinionthat Gaykhätü's unrestrained
prodigalityis only fittingly to be comparedwith Ögödei's liberalityand
generosity.25Similarly he praises the sense of justice and the bene-
volence of this ruler, qualities which, when regarded critically,prove
to be personal weakness, fear and superstition.26According to Vassāf
it frequentlyoccurredthat Gaykhäthü made presents to his wives of
sums in the regionof thirtytūmān,i. e. 30,000dinārs,or that he allotted
to his wives and concubines,emirsand young boys, sums to be derived
fromtributesnot yet received.27Vassāf expresses himselfwith caution
in relation to the frivolousfashion in which Gaykhâtû lavished the
jewels fromthe state treasuryon his wives (possiblyhe is here referring
to the already mentioned remainder of Arghūn-Khūn's treasure).
24Rashīd al-Dīn,Geschichte ôãzãn-Hãris,ed. K. Jahn,Gibb Mem. Series,
New SeriesXIV, (London,1940),p. 82 (Persian); 'Alīzādah,op. cit.,p. 391
(Persian).
25Vassāf,op.cit.,p. 226; Mīrkhvānd,Ind. ed.,5,p. 124;Khvāndamīr, op.cit.,
p. 78. Hamd-AllāhĶazvīnīalso joinsin thepraiseofVassāf,op. cit.,p. 589and
590.
26Vassāf,op.cit.,p. 267andMīrkhvānd, Ind. ed.,5,p. 124,recordthatat the
beginning ofhisreignGaykhâtûaskedtheShamanswhyArghūnhad notlived
and reignedforlonger.He receivedtheanswerthatthereasonshouldbe sought
in thefactthathe (Arghūn)had shedthebloodoftheprinces,all oftheemirs
and thesoldiers. . ., andforthisreasonGaykhâtû, duringhisownreign,insisted
on no one beingput to death.OnlyGaykhätü'sfearand weaknesscan explain
hisattitudetowardstheEmirTaghāchār, Bâydûoreventhecriminal Afrãsiyâb-
i-Lur.EvenVassāffindsGaykhätü's behaviourinthelastcaseextremely strange,
op. cit.,p. 267.
27Vassāf,op. cit.,p. 266 and Mīrkhvānd, Tehraned.,5, p. 124.AlsoKhvān-
damīr,op. cit.,p. 78.

4
'Jewels", thus Gaykhâtû as reported by Vassāf, "exist for women to
adorn themselves with, and not to be stored in the treasuries of the
sultans where they are of no use to any one".28
The cost of provisioningthe court,which at the time of Abâqã-Khãn
and Ahmad had amounted to 40 tūmān, now rose rapidly to morethan
165 tūmān. Of the total income of the State, formerly1800 tūmān
(= 18,000,000dīnār), 700 tūmānnow coveredthe ordinaryexpenditure,
but the remainder, i.e. 1100 tūmān, was not sufficientto meet the
requirementsof the court.29
Hand in hand withGaykhâtû's prodigalitywenthis sexual excesses.30
The silence observed on this score in Rashīd al-Dīn's historical work
is adequately compensatedby the recordsofthe otherhistoriographers.
This vicious predispositionon the part of the Ilkhān moreovermade
Bâydû's already facile victorystill lighter,forit resulted in his revolt
against Gaykhâtû appearing just and reasonable in the eyes of his
contemporaries.But to explain Gaykhâtû's downfall solely by this
would be to overlook the real reason,31namely that he lacked the
most indispensablegiftsof a true ruler- political wisdom and energy
- and in addition, that fate had not allotted him any statesman of
stature and devoted loyalty who might have guided and supported
him.
Of the Mongol rulers,predominantlyBuddhist and amazingly un-
biased as they were, we know that until their conversion to Islam
28Vassāf,op.cit.,p. 264; Mirkhvānd, Ind. ed.5,p. 123;Khvāndamīr, op.cit.,

p. 78; Cf.also TheHistory ofMar Yaballaha111,translated byJ.A.Montgomery,
p. 75f.
29Vassāf,op. cit.,p. 271. In Howorth,op. cit.,p. 367 we find1600and 500
tūmāns. For reference to thebudgetoftheIlkhānEmpire,cf.also theilluminat-
inglectureofA. Z. Validi(Z. V. Togan)entitled:"The EconomicSituationin
Anatoliain theMongolPeriod",publishedin Turkishin the formof extracts
in the TürkHukukve IktisatTarihiMecmuasi,Vol. I, (1931) pp. 1- 42.
30Vassāf,op. cit.,p. 268; Mirkhvānd, Ind. ed.,p. 124; Khvāndamīr, loc.cit.,
p. 80; Hamd-Allāh Ķazvīnī, loc.cit.,
p. 590; continuer ofBar Hebraeus, loc.cit.,
p. 497andMarcoPolo,ed.byYule-Cordier (London,1921),II, p. 475.In addition
we knowthat Gaykhâtûwas stronglyaddictedto drink,a vice he shared
withmostofhispredecessors and successors. Cf.Vassāf,op. cit.,p. 275; Mirkh-
vānd,Ind. ed.,op. cit.,p. 125and Khvāndamīr, loc.cit.,p. 80.
31Cf.too themessagefromBâydùand theemirsto Ghāzānin thecontinuer
ofBar Hebraeus,loc.cit.,p. 498 and inAbū 'l-Fidā'sChronikon (Stamboul,1284
A. H.) p. 823,whereGaykhâtû'swickedway oflivingis explainedas thecause
ofhisremovalby Bâydû.

110 KARL JAHN
neitherracial nor religiousdifferences played any role at all. Only thus

can it be explained that the Jew Sa'd al-Daula (put to death on 29 Feb-
ruary 1291) was able to occupy the highest position in the state for
nearly two years under Arghūn-Khān. When selecting their advisers
and officialsthe decisive factorswith these princeswere the usefulness
and ability of the candidates. It says much for the acute perception
and profoundknowledge of human nature of Hūlāgū, his son Abâqã
and the latter's grandsonsGhāzān and Uljäytü that theyentrustedthe
permanentadministrationof the empireto persons of the political and
historiographicalorder of a Juvaynî and a Rashīd al-Dīn. But while
Arghūn-Khānhad not had a particularlyfortunatehand in the selec-
tion of his ministerSa'd al-Daula, Gaykhätü was to hit upon a man,
in the person of Sadr al-Dīn, who, though he possessed great ingenuity
and shrewdness,was to get the empire into vast difficultiesby his
unsound and unmethodical measures, and was to accelerate, even
though indirectly,the end of his firstmaster's reign.
Sadr al-Dīn who, according to Khvāndamīr, came fromthe family
of a magistratein the provinceof Zinjān,33professedthe Moslem faith,
although- as we read in a passage from Rashīd al-Dīn- he main-
tained an association with adherents to the Mazdak sect which was
composed of persons belongingto the highest circles,a fact worthyof
notice.34Indeed, it is in my opinion not unlikelythat in secret he was
even a member of this sect. His sympathy for, and known goodwill
towards, sheikhs and dervishes35(who belonged to sects and orders of
which unfortunatelyno furtherdesignation is given), whom he was
wont to hold in high esteem and to load with gifts- as was also his
32Cf.D'Ohsson,op. cit.,IV, p. 30ff.,Hammer-Purgstall,op. cit.,I, p. 382ff.,
and Howorth,loc.cit.,III, p. 331ff.
33According to Khvāndamīr, loc.cit.,p. 70.
34The trialoffollowers ofSadral-Din(theywerethefollowing: PirYa'kùb-
i-Bāģbānī,SheikhRashīd,the sheikhof Sadr al-Dīn,two 'Alids,the Khān's
ambassador,and Habib, the Bulgarianambassador),personally conductedby
Ghāzān,provedthattheyall belongedto the Mazdak sect.- Rashīd's words
[Gāzān-Ņān/Jahn, p. 153 (Persian);'Alīzādah,p. 362 (Persian)]do notentitle
us to drawany conclusions as to thenatureofthissect.It was probablya sect
based on certaincommunistic and humanitarian tendenciesof Middle-Persian
Mazdakism.Unfortunately thereare as yetno reliableresultsfromresearchon
the continuationof Mazdakismamongthe Islamicsects.Cf.M. Guidi,article
"Mazdak"in EI, vol. III (1936),p. 499ff.
85Cf.the followingtwo fragments fromRashīdal-Dīn's HistoryofGhāzān -
Hān and Khvāndamīr, loc.cit.,p. 79.

custom with men of letters- do not in themselvesprovide sufficient

evidence for drawing any conclusions in this respect. Neither is there
any occasion to see in Sadr al-Dïn a member of the same faith as
Sa'd al-Daula, as we can read in the work of Howorth.36In order to
motivate the not exactly friendlyattitude of Rashīd al-Dīn towards
Sadr al-Dïn, it is quite sufficientto bear in mind the seriesof dangerous
intrigues staged by the latter to which he was probably driven by
jalousie de métierand which actually imperilled the life of our histo-
rian.37
Rashīd al-Dīn tells us in relatively full detail about Sadr al-Dīn's
rise to power. The latter,in his functionas financierand representative
of the influentialemir Taghāchār,38had succeeded in obtaining a large
fortunederived mainlyfromthe propertyconfiscatedfromthe numer-
ous political victims at the time of Arghūn's death and afterwards.39
As deputy to this constantlyintriguingemir,who was hostile towards
Gaykhâtû, we come across Sadr al-Dīn at the time when Taghāchār,
carried away by revolutionaryplans, had, during the winter of the
year 690 A. H. (= end of 1292 and beginningof 1293 A. D.), left the
camp of his chief,the prince Anbārjī, at Ray. Doubtless it was Sadr
al-Dīn who, at the command of Taghāchār, sent a message to his
brotherQutb al-Dīn in Qazvîn to the effectthat Gaykhâtû had been
killed by the Turkomans of Rūm and the Qaramans, and that the
emirs had agreed that Prince Anbārjī should succeed him.40 Qutb
al-Dīn was to informAnbārjī of this, to preventhim frommarchingto
Khurāsān and to persuade him to returnto Arrān. But fromthe first
the cautious Anbārjī was suspicious of this message41and sent a mes-
senger to Gaykhâtû's deputy, Shīktūr-Noyān,who resided in the old
86Howorth,op. cit.,III, p. 502 and 521,note.
87D'Ohsson,op. cit.,V, p. 198- 99, and p. fol.283,r. and v.
88Rashīdal-Dïn,cf.Abāgābis Qaihätü , Jahn,p. 84 (Persian);'Alīzādah,op.
cit.,p. 235 (Persian).
89We aretoldsomething oftheactivitiesofSadral-Dīnin theserviceofthis
emirby Rashīdal-Dīn,Ôãzãn-Hãn, Jahn,p. 91 (Persian),and Khvāndamīr, op.
cit.,p. 79.
40Vassāf,op. cit.,p. 262; Mīrkhvānd, Ind. ed.,p. 123; Khvāndamīr, loc.cit.,
p. 78. Curiously enough we learn nothingmore about Gaykhâtû's doings in Rūm
fromanyoftheIranianhistorians, butonlyfromthecontinuer ofBar Hebraeus,
loc.cit.,p. 492; cf.D'Ohsson,loc.cit.,IV, p. 35- 86.
41Undertheinfluence oftherumoursmentioned above,PrinceAnbārjīap-
pearsindeedto havetoyedwiththeidea ofusurping thethrone.Cf.Vassāf,op.
cit.,p. 262; Mīrkhvānd, Ind. ed.,p. 123.

112 KARL JAHN
camp of the Ilkhān at Karāchāl on the Kūra, in order to findout the

true state of affairs.But on his way to Shïktûr-Noyân,it became
clear to the messengerthat he was involved in an intrigueon the part
of Sadr al-Dīn and one which mightunder certain circumstanceshave
extremely serious consequences for Anbārjī and his followers. He
thereforesecretlysent a report to this effectto Shīktūr-Noyān,who
soon afterwardshad Taghāchār and Sadr al-Dīn arrested. The latterhe
imprisonedin his own house until the returnof Gaykhâtû fromRūm
in the springof the year 1291 A. H. (= second quarter of 1292 A. D.),
subsequently despatching both men with an escort of five hundred
horsemen to Gaykhâtû whom they reached at Erzerum.42As to the
manner in which Taghāchār and Sadr al-Dīn regained their freedom,
indeed how the two of them managed to become objects of special
honour fromthe side of the Ilkhān, we know nothingat all.
Vassāf's informationon the subject,43couched in the usual conven-
tional terms, admits of practically no other interpretationthan that
it was really only Gaykhâtû's clemency,or ratherfear,that once again
triumphed,but with incalculable consequences. Sadr al-Dīn must by
then already have won the confidenceof the Ilkhān, a confidencethat
shortlyafterwardswas confirmedby his appointmentto the officeof
vizier.44Whereas Vassāf usually confrontsus with accomplished facts,
Rashīd al-Dïn can always provide us with additional information.
Accordingto the latter, Sadr al-Dīn spent his great fortune,the source
of which has already been indicated, on gifts,with the aid of which he
succeeded in winningover to his side Gaykhâtû's favourite,Bûrâqchîn
Īkājī. With the assistance of Ghāzān-Khān's later vizier, Sharaf al-
Dīn Simnānī, he managed to gain access to Gaykhâtû's father-in-law,
generalissimoAqbûqâ, and to obtain his protection. Emir Aqbûqâ's
influenceon Gaykhâtû appears to have been very strong, for on 6
Dū'l-Hijja 691 A. H. (= 18 November 1292) Sadr al-Dīn was appoint-
ed Sāhib-i Dīvān in the winter camp at 'Arrān, in spite of the fact
that an influentialperson like Shams al-Dīn Lākūshī was strivingwith
all his might and main to obtain this post.45Vassāf states that Gay-
42Vassāf,op. cit.,p. 262; Mīrkhvānd,

Ind. ed.,p. 123.
48Cf.Vassāf,op. cit.,p. 262; Mīrkhvānd,
Ind. ed.,p. 123; Khvāndamīr, op.
cit.,p. 78.
44Vassāf,Mīrkhvānd, and Khvāndamīr,loc.cit.
46Cf.Rashīdal-Dīn,AbãgãbisGaihātū, Jahn,p. 86 (Persian);'Alīzādah,op.
cit.,p. 237 (Persian).

khātū had had a list drawn up of persons eligible for nomination as

vizier but that Sadr al-Dīn's name was absent from this list.46The
Ilkhān, who had at once noticed the omission, pronounced himself
opposed to all the persons enumerated and declared that Sadr al-Dīn
was in his opinion the only worthycandidate forthe post. Whereupon
all the princes, princesses and emirs voted unanimously for Sadr al-
Dīn, to whom Gaykhätü now presentedthe golden seal, the horse-tail
standard and war-trumpetand a unit consisting of 10,000 soldiers.47
At the same time the Ilkhān ordered that no one, be he prince or
princess or emir, was allowed to have state property at his or her
disposal, irrespectiveof its magnitude,or to apply to him (Gaykhätü)
in connection with such property.48On the grounds of this yarlïgh,
Sadr al-Dīn became the sole and absolute controllerof the whole of the
state property.49When shortlyafterwardsin the course of his adminis-
trativereformshe also nationalized the domains of the Ilkhān ( dãlãy) ,
which since Gaykhâtû's returnfromRūm had been administeredby
the latter's favourites Hasan and Tāyjū,50 whom he dismissed on
short notice,51he reached the summit of his power.52 At his own
wish and with Gaykhâtû's consent he bore the honorary name of
Sadr-i Jihān, "President of the World",53 and his brother Qutb al-
Dīn Ahmad, whom he had appointed chiefmagistrateof the realm and
governorof Tabriz, was given the surname Qutb-i Jihān, "Pole of the
World".54For the followingdetails of Sadr al-Dīn's career and work as
46Vassāf,op.cit.,p. 265andKhvāndamīr, Ind. ed.,

op.cit.,p. 79; Mīrkhvānd,
p. 123and Khvāndamīr, op. cit.,p. 78; Hamd-AllāhĶazvīnī,op. cit.,p. 589.
47Vassāfand Khvāndamīr, loc.cit.
48Vassāf,ibid.
49Vassāf,op. cit.,p. 265- 66; Mīrkhvānd, TehranEd., 5, p. 123 and 124;
Khvāndamīr, op. cit.,p. 79.
60Vassāf,op. cit.,p. 265.
51Vassāf,op. cit.,p. 268; Mīrkhvānd, op. cit.,p. 123 and Khvāndamīr, op.
cit.,p. 79.
52Vassāf,Mīrkhvānd, and Khvāndamīr, loc.cit.
53Rashīdal-Dīn,AbāģābisGaihātū, Jahn,p. 86 (Persian);'Alīzādah,op. cit.,
237 (Persian).Vassāf,op.cit.,p. 265; Mīrkhvānd, Tehraned.,p. 123,andKhvān-
damīr,op. cit.,p. 78.
54Rashīd al-Dīn, Abāģā bis Gaihātū,Jahn,ibid.; Vassāf,op. cit.,p. 266;
Mīrkhvānd, op. cit.,p. 123andKhvāndamīr, to Rashīd
op. cit.,p. 78.According
al-Dīnthetitleof"Ķivām-iMulk",i.e. "PillaroftheState",was heldby Sadr
al-Dīn'sunclewho becamegovernorof Irak, and not governorof Tabriz,as
Howorth,op. cit.,p. 368,asserts.

114 KARL JAHN
Sāhib-i Dīvān we are indebted particularlyto Vassāf, as well as to the

continuerof Bar Hebraeus. Rashīd al-Dīn, by way of contrast,main-
tains complete silence on this subject in his officialthoughratherbrief
historyof Gaykhätü. Nor does he break this silence until we get to
certain passages in the second part of his historyof Ghāzān, and then
only in order to portray by comparison the evil state of affairspre-
vailing at the period of Sadr al-Dīn. The examples that follow are
derived fromthis portion of Rashīd al-Dīn's history.
In an attempt to bring about Sadr-i Jihān's fall in Dû'l-Qa'da 692
A. H. (3 October- 2 November 1293), the emirs Hasan and Tāyjū,
whom he had deposed, together with several other malcontents ac-
cused him of having squandered and embezzled public funds intended
forthe courtand the army.55As proofof the justice of this chargethey
broughtforwardthe tamghā(tax revenues) of the province of Tabriz.
Of the total receipts of eighty tūmān, Sadr al-Dīn was said to have
appropriated thirtyfor his own use, while the treasuries of the State
were empty. Yet Gaykhätü paid no attention to this accusation and
immediated delivered the plaintiffs56 with their wives and children
over to his vizier,who firsthad them imprisonedbut soon afterwards
magnanimously set them free after they had admitted their guilt.57
This incident resulted in a renewed strengtheningof Sadr al-Dīn's
reputation and position.58Again there appeared a yarlïghthat con-
firmedhis absolute authoritywithinthe whole of the empire,gave him
the right of appointing persons of his own choice to all the posts
formerlyoccupied by the deposed emirs and bãsqãqs ; furthermorehe
was permittedto take into his own service all the calligraphersin the
retinuesof the princessesand emirs.Finally the princesand emirswere
forbiddeneven to touch state propertyfor the purpose of covering
theirexpenditureon provisions,wages and militaryfiefs.59 Yet although
Sadr al-Dīn had acquired almost dictatorialauthority,he was nonethe-
65Vassāf,op. cit.,p. 269; Mīrkhvānd, Tehraned.,p. 123,and Khvāndamīr,
op. cit.,p. 79.
66Thischargewas broughtby the personsnamedabove on the occasionof
one of Gaykhâtû'shunting-parties at Ahar (theplace lies in Azerbayjan,150
mileswest of Ardabïl.Cf.G. Le Strange,The Lands of theeasternCaliphate,
p. 169); see Vassāf,op. cit.,p. 269.
57Vassāf,loccit.;cf.Mīrkhvānd, Ind. ed.,p. 124,and Khvāndamīr, op. cit.,
p. 79.
58Onlyin Vassāf,loc.cit.
69Vas§āf,op. cit.,pp. 269- 270.

less unable to put the State finances into any sort of order, in fact
according to Rashîd al-Dïn he led the countryto complete financial
ruin.
Furthermore,Sadr al-Dīn did not manage the State revenues any
less unscrupulously and extravagantly than did the Ilkhān himself,
as all contemporarysources are agreed. And this will be adequately
demonstrated by examples.60 On him as Sāhib Dīvān, "Minister of
Finance", devolved the duty of refillingthe State treasurywhich had
constantlybeen plundered by himself,but particularlyby Gaykhâtû
and the court. He succeeded in doing this by establishinghigh credits
which, to judge by informationsupplied by Vassāf, ran up to 500
tūmān (= 5 million gold dinārs)61 during his two years' tenure of
office.The methods by which these loan transactions were effected
were forthe most part devoid of any sound economic foundation,and
as they began to have an unprecedentedeffecton the whole economic
life of the time they led to a certain anarchy which was not to be
remedied until Ghāzān introduced his reforms.Without subscribing
entirelyto Rashīd al-Dīn's unconditionalcondemnationof the practices
of Sadr al-Dīn and his period, one can in general agree with his asser-
tion if one makes allowance for certain exaggerations which must be
pardoned him in his role of enthusiasticbiographerof his great ruler.
And his account appears all the more plausible when we considerthat
in all essential details it coincides with the picture of Sadr al-Dīn
handed down to us by other historiographers.Within the bounds of
the present essay it is of course not possible to present a picture of
those troubled times such as Rashīd al-Dīn has depicted. All that is
envisaged at presentis to offertranslationsof two especially character-
istic fragmentsof his History that concern Sadr al-Dīn personally. In
regardto the text I would referto my already mentionededition of the
Historyof Ghāzān-Khān,62
60In additionto theexamplesto followinthetext,cf.Vassāf,op.cit.,p. 271;

HamdAllāhĶazvīnī,op. cit.,p. 590; Mīrkhvānd, Ind. ed., p. 124; Khvāndamīr,
op. cit.,p. 79; and thecontinuerofBar Hebraeus,op. cit.,p. 496.
61Vassāf,op. cit.,p. 271; Mīrkhvānd,
I?id.ed.,p. 124; Khvāndamīr, op. cit.,
p. 79. Rashīd al-Dīn and Vassāffrequently mentionSadr al-Dīn'screditand
loan transactions, thoughwithoutgivingany concretedetails.
62To thismaynowbe addedtheexcellent editionof'Alīzādah'smentioned in
Note 16,to whichan equallygoodRussiantranslation byA. K. Arendshas been
affixed.The firstparagraph(I) translatedhereis to be foundon pp. 319- 20

116 KARL JAHN
I.: "When Sadr-i Chaovī (i.e. the man who introduced the chao
became vizier, usurious trade increased to an extent that is im-
possible to describe in words. But, as the subject is under dis-
cussion, one very minutepart (of it) must be mentioned.(This is)
no empty twaddle, forthose living at the time were all witnesses
of what is to be told. Thereforethe followingwill appear strange
to those who may some day read it.
The provincial tax-gatherersat that time were the basest crea-
tures of their period. They were acquainted with Sadr al-Dīn's
custom of sellingan ox fora calf and they lent sums of money at
an extortionaterate ofinterestand offeredit to him as a ťgift'That
which was worthten dinārs they borrowed for twenty and gave
to him for thirty.And he accepted it, but said: 'The dīvān (i.e.
the State chancellery) is in need of money.' The tax-collector
thereupon answered categorically: ťIn this place money is lent
at interest- the sum I have presented you with was only procur-
ed by means of a thousand ruses.' To which he replied: ťYou will
not lose by it; as soon as you receive it, give it all to me.' Hardly
had that person(i.e. the tax-collector)producedthebond beforethe
amount and the usuriousinteresthad been calculated. For every-
thing that was worth 10 dinārs he received thirtydinārs and he
gave it to him (Sadr al-Dīn) for fortydinārs. But the remaining
ten dinārs he (the tax-collector) at once spent. And when Sadr
al-Dīn was in urgentneed of money his lieutenants used to say:
'True, it is worth ten dinārs, but it will not fetch more than six
dinārs.' And they kept the fourdinārs forthemselves. Briefly,of
the total sum of fortydinārs he received no more than six, and
these too were the propertyof the dlvān. who squandered them
away.
One of his assistantsboughtseveral thousand sheep forhim froma
merchant for five dinārs apiece, to be paid at the end of two
months. But when payment became due there was no money
available. As in the meantime most of the sheep had perished or
were in a wretchedcondition,he orderedthe rest to be sold at a
low price and to use the proceeds to cover the interestdue on the
(Persian)of myeditionand on pp. 527- 8 (Persian)of'Alīzādah's;thesecond

paragraph(II) on pp. 247- 8 (Jahn)andp. 457 (Persian)of'Alīzādah's;Arend's
Russiantranslation,ibid.,pp. 301- 2, 258- 9.

two months.The contract,i. e. the date on which the debt was due
to be paid, was however deferredfor another two months.
There is no doubt that the wealth of the kingdomwas squandered
away by such transactions and that the state treasury had no
revenues to register.Of the assignmentsof money made by Gay-
khātū that can be attributedto his generosity,the assignees did
not receive one dānug (= one quarter dirham), and the same
applied to the pay of the troops, the salaries and other regular
expenses. This was also the reason why the army hated Gaykhätü.
Sadr al-Dīn was neverthelessconstantly bankrupt and when he
died he had become guilty of thousands and again thousands of
injustices towards the nation; how many houses full of valuables
and comfortshad he not robbed the people of!"
II.: "But such dealings (the reprehensible method of levying
taxes was under discussion) constitutedthe whole of his activity.
He was expert at it and carried such abominable practices and
injustices to great lengths. The result was that he plunged the
realm and the governmentinto complete ruin. In his time it was
impossible for any one to collect a sum of money guaranteed by
a berät(bill of exchange issued by the State) on a province (irre-
spective of which). None of the legitimate pensions and salaries
were properlypaid out, forall berātsand bills proved to be nothing
but tricksand frauds.
It frequentlyhappened that he issued a draft for five hundred
dinārs to one of the dervishes,sheikhs or deservingpersons who
came to him at his request or forsome otherreason. Such a person,
now, who had never set eyes on as much as hundred akcha (small
silver coins) in his life,would then talk about the vizier's gener-
osity and rejoiced greatly and, before he even set out to obtain
payment of his capital, resolved in view of his credit of five
hundred dinārs, to borrow one hundred dinārs to cover the cost
of his riding-animal,his equipment and his food for the journey.
He calculated that aftersettlinghis debt he would have hundred
dinārs leftand, drivenon by that hope, went on in tirelesspursuit
of the money, even to the extent of forgettinghis dignity as a
sheikh and learningthe professionof a beg, a tax-collector.When
all this proved fruitless,he (the debtor) finallyfledfromthis (his)
creditor.
As a resultofthis mismanagementand waste of money,most ofthe

118 KARL JAHN
inhabitants of the provinces fled fromtheir native districtsand

settled in the westernprovinces. Thus towns and villages became
deserted."
Finally, in connection with the foregoing,one more particularly

characteristicepisode63deserves quoting, told by the continuerof Bar
Hebraeus: "Sadr al-Dīn, unable as he was to procure as much as one
sheep for Gaykhâtû's table, transferredthe whole of the provisioning
of the courtto a certainJew of the name of Rashīd al-Daula. This man
applied himselfwith diligence to his task and spent a large sum of
money of his own for the purchase of tens of thousands of sheep and
oxen. He also appointed butchers and cooks. To this he affixed the
condition that money should be raised monthlyfor the Sāhib Dīvān.
With this he hoped to cover his own outlay, forthe state treasurywas
completelydestituteof funds. But despite the bills of exchange drawn
for him by the Sāhib Dīvān on the revenues of several provinces,the
Jew was unable to raise even the smallest sum. When in this manner
he had lost the whole of his fortuneand was thus unable to meet his
commitments,he left everythingin the lurch and fled."
The facts disclosed in the foregoingappear, at any rate for Vassāf,
to have contained sufficientgrounds for the introduction of paper
currency,followinga proposal made by Sadr al-Dīn or 'Izz al-Dīn
Muhammad.
The historians of the Mongol period, among them in particular
Rashīd al-Dīn, may perhaps in their accounts give rise to the impres-
sion that Chinese paper money had been altogetherunknown to the
Near East beforethe time of Sadr-i Jihān, and that this vizier and his
circle may in a certain sense be seen as the inventorsof this formof
currency,at any rate as faras Iran was concerned.Such an assumption,
however,though it appears to findconfirmationin the absence of any
referenceto it in native sources of the period, is disproved by the bare
fact that the Persian Mongol kingdom,since its actual foundationby
Hūlāgū, had constantlymaintained very close and active contact with
its Far Eastern fatherland,64whose sphereof influenceat times extend-
63ContinuerofBar Hebraeus,op. cit.,p. 496.
64HereI thinkin thefirst
placeofIran'sflourishing
traderelations(farmore
thanthoseofa diplomatic nature!)withtheFar East and viceversa.Thiswas
carriedon mainlyby numerous Centraland East-Asiantraderswhohad found
a newhomeand a rewarding fieldofactivityin theempireoftheIlkhãns.

ed quite a way to the west.65And during such periods the Persians

would of course become sufficientlyacquainted with the principleof
paper money.66This also explodes the theorythat the introductionof
paper money into Iran might in some way be connected with the
journey and stay of the Polos,67which took place at about the same
time.68
But, frombecomingacquainted with an institutionto its realization,
is a big step, especially for somethingas essentially foreignas paper
currency,and especially forOrientals, conservativeas they are in their
way of life and with their strong attachment to tradition. With due
considerationfor this circumstance,it seems to me quite understand-
able that our historians,when firstconfrontedwith the emission of
paper currencyin practice, should have regarded such a system as a
complete novelty, even though they had doubtless long known of its
existence.
85MarcoPolo (H. Yule, TheBoohofSerMarcoPolo, editedLondon,1875,1,

p. 196)informs us thatQubilay'sempirealso includedKhotanand theregions
to theeast ofit. Cf.W. Barthold's12 Vorlesungen ... p. 187.
66Afterwhathas beensaid above,I cannotofcourse,subscribeto the view
expressedby Ch. Schefer(in his article"Relationsdes Musulmansavec les
Chinois",publishedin Centenaire de VÉcole des langues orientales vivantes ,
[Paris,1895],p. 17) thatChinesepapermoneymadefromthebarkof the mul-
berrytreewas firstknownin Islam at thebeginning ofthe 14thcentury, based
on theevidenceofAhmadShihābal-Dīn(d. 1338)whowas writing at thesame
time; unlessit was thatSchefer had certainregionsofthewestern Islamicworld
in mind.But eventhenhis opiniondoesnotseemto me acceptable.
67G. Pauthier,to my mindquite rightly, rejectedthis idea of Sir John
Malcolm'sin hisHistory ofPersia, Vol. I, p. 432 (note);cf.Yule,op. cit.,Vol. II,.
p. 429. In Khara-Khoto,in East Turkestan,ColonelP. K. Kozlov discovered
severalpapermoneynotesfromQubilay'sreign(1260- 1295)duringhisscienti-
ficexpedition intheyears1907- 08.We maythusassumethatKhara-Khotodid
notformthewestern limitofthedissemination ofpapercurrency. Cf.theworks
of V. Kotwicz,"ObrazcyassignaciiJuanskojďinastii v Kitaji", in Izvestija
Imp. Rus8kagogeografičesJcago obščestva, XLV (1909), p. 474- 477 and A.
Ivanov, "Bumaznoe obrašěenie v Kitaje do XV veka", in Materiálypo etno-
grafiiRossii II (SPB, 1914), p. 9- 14. The latterarticle,to whichI have un-
fortunately beenunableto gain access,containson pages 10- 11 threerepro-
ductionsofthesepieces,whicharethenagainto be foundin theRussianedition
ofP. K. Kozlov's Mongolijai Amdo(St. Petersburg, 1909)on p. 122 and 123,
but nothoweverin theGermantranslation publishedby W. Filchnerin 1925.
68Cf.Yule, op. cit.,Vol. I, pp. 35- 38.

120 KARL JAHN
THE INTRODUCTION OF PAPER CURRENCY
Before the Sāhib Dīvān submitted to the Ilkhān his proposal for
the issuing of paper money (probably at the beginningof Jumādā II,
693 A. H. = end of April or beginningof May 1294), he had already
discussed the question with some of his emirs on more than one oc-
casion.69Accordingto Vassāf it was the councillorand vizier Muzaffar
ben Muhammad ben 'Amid- who appears to our author as the
-
physical and mental quintessence of loathsomeness and depravity70
at whose instigationSadr al-Dīn resolved to take the step. Just as in
the empireof the Great Khān, paper currencywas to take the place of
metal in the Iran of the Ilkhāns, while all of the latter was to flowinto
the treasuryof the Ilkhān. It was believed that in this way an impetus
would be given to trade and an improvementin social conditions
would be assured.71Gaykhätü, whom Sadr-i Jihān's proposal suited
very well since he saw in it an opportunityforprocuringwithoutmuch
trouble the enormoussums of which he was constantlyin need, never-
theless applied to the deputy of the Great Khān at his court, Emir
Pūlād Chīnksānk,72with the purpose of obtaining furtherinformation
on the subject. This man, an ambassador of long standing at the court
of Khânbâlïq and presentedby Rashīd al-Dīn as an eminentauthority
on the historyof Mongolia,73instructedGaykhätü on the nature of the
ch'ao, explaining it as a paper endorsed with the seal ( tamghā) of the
Great Khān and valid in all parts of the Chinese Empire in place of
cast metal coinage. But ready money, he said, was the bãlish,74and
69Cf.Rashīdal-Dīn,AbāģābisOaihātū,Jahn,p. 86; 'Alīzādah,p. 239 (Per-

sian).
70Vassāf,op.cit.,p. 271; Mīrkhvānd, loc.cit.,p. 287,Ind. ed.p. 124;Khvān-
damīr,loc.cit.,p. 79,inwhichMuzaffar appearsas a wickedtax-gatherer; cf.also
Vassāf,loc.cit.,p. 268,wheremention is madeofhisworkas adviserto thevizier.
71Vassāf,op. cit.,p. 272; Mīrkhvānd, op. cit.,p. 287,Ind. ed.,p. 124,where
we read that Muzaffar ben 'Amīdpresentsthe necessityand advantagesof
papercurrency to thevizierin termsofextremeverbosity.
72According to Vassāf,op. cit.,p. 272,Mīrkhvānd, op. cit.,p. 279,Ind. ed.,
p. 124,and Khvāndamīr, loc.cit.,p. 79, Sadr al-Dīn submitted hisproposalin
agreement withEmirPūlād Chīnksānk.
73D'Ohsson,op. cit.,IV, pp. 359- 60.
74The factthatpaperbalishwas also stillin circulation in Chinaat thattime
is notreferred to here.Cf.thefundamental assertions madeby E. Quatremère
in hisHistoiredesMongols, p. 320,Note 120; also H. Yule, Cathayand theWay

flowedinto the imperial treasury.The Ilkhān, whose generosityall the

money in the world would not have sufficedto satisfy,says Rashīd
al-Dīn, declared his expectations to have been strengthenedby the
explanation given by the Emīr Pūlād Chīnksānk and announced his
approval of the measure proposed by the Sāhib Dīvān.
The objections to the introductionof the ch'ao raised by Shīktūr-
Nõyân- who, though he had lost his position of power75, after
Gaykhätü's returnfromRūm, was still described by Rashīd al-Dīn as
the most sagacious of the emirs76 - were lightly dismissed by Sadr
al-Dīn as egoistic motives: "Shīktūr-Nč>yānwants to abolish the cttao
because he loves gold".77
There was thus nothingmorestandingin the way of the introduction
of paper currency.In orderto put the measure now decided upon into
practice as rapidly as possible after the issue of Gaykhätü's yarlïgh,
Sadr al-Dīn set offfor Tabriz with the emirs Aqbûqâ, Taghāchār and
Tamājī on the 27 Sha'bān A. H. (- 23 July 1294) wheretheyarrivedon
the 19 Ramadan. Here they had a large quantity of paper money made
and put it into circulationforthe firsttime on 19 Shavvāl 693 (= 12
78
September 1294). Simultaneously an edict went forthto the effect
that any one who refusedto accept paper currencyas legal tender was
to be put to death on the spot.79Accordingto Vassāf's account, Gay-
khätü's yarlïghalso strictlyprohibitedthe use ofready cash in whatever
formfor business purposes. The decree moreoverforbade the manu-
facture of garmentsinterwovenwith gold thread, with the exception
of those destined for the Ilkhān and the highest ranks of the emirs;
Thither , II, p. 196. Ibn Battūtā (editedby Defrémery-Sanguinetti, IV, p. 260)

refersto bãlishas "balisht".
75At thetimeofGaykhätü'sabsence,Shīktūr-Noyān was thelatter'sdeputy
and investedwithfullpowerof attorney;afterGaykhätü'sreturnfromRūm
he was stillonlytheadjutantofthegeneralissimo, Aqbûqâ. Cf.Vassāf,op. cit.,
pp. 260 and 265.
76Cf.Rashīd AbāģābisGaihätü, Jahn,p. 87; 'Alīzādah,p. 240(Persian).
77Ibidem.
78According to Vassāf,op. cit.,p. 274,Mīrkhvānd, op. cit.,p. 290,Ind. ed.,p.
125,and Khvāndamīr, op. cit.,
p. 80, chaowas put into circulation in Tabrizin
theDū'l Qa'da.
79FromMīrkhvānd's account,op., cit.,p. 291, Ind. ed.,p. 125 it is evident
that beheadingwas meant.The continuerof Bar Hebraeus,loc. cit.,p. 497,
adds: "... and anyonewho possessessilverand does not deliverit up to the
State . . . and does notacceptshaw[sic!] in its place mustdie".

122 KARL JAHN
furtherthe makingof vessels fromprecious metals as well as in general

the practice of any craftthat required the use of gold and silver was
prohibited.Craftsmenwhose existencewas threatenedby this measure
were to receive compensation in the formof ch'ao, the amount to be
fixed by the governorsin proportionto their earnings.81Exceptional
terms were allowed for those merchants who traded with foreign
countries.The state treasuryexchanged theirch'ao forcorresponding
sums in cash.82
From the above it is perfectlyclear that, just as in China, the pur-
pose83at least was that not only the coins but also the whole existing
stock of precious metals should findits way into the treasury of the
State.84
Commissioners,expresslyentrustedwith this task and described by
Vassāf and Mīrkhvāndas Great Emirs85,supervisedthe execution and
observance of the conditions laid down in the yarlïghin the districts
of the empire lying in Arabian and Persian Irak, in Diyâr Bakr and
Diyãr Rabťa, Mawsil, Mayyāfāriķīn,Azerbayjân, Khurāsān, Kirmān
and Shīrāz. From this indeed superficialenumerationby Vassāf of the
districtsthat may be regardedas centresofthech'ao issue,it is apparent
that certain importantparts of the empire were exempted altogether
from Sadr-i Jihān's experiment.The chief of these were Rūm in the
west and certain northernand eastern frontierregions,among others,
Māzandarān and Khurāsān, although the latter was included in Vas-
sāf's list. The reason for this probably lies partly in the impotence of
the centralgovernmentand partly in the fact that the paper currency
project came to a sudden end beforeit had been able to reach those
remote regions.Rashīd al-Dīn provides us withan instructiveexample
of this in his historyof Ghāzān-Khān, where he recountsthis storyof
the meeting at Simnān between Ghāzān and the ch'ao commissioner,
Ordūbūqā, who had apparently been delegated to Māzandarān and
80Vassāf,op. cit.,p. 272; Mīrkhvānd, op. cit.,p. 290,Ind. ed.,p. 124;Khvān-
damïr,op. cit.,p. 79.
81Vassāf,op. cit.,p. 273; Mīrkhvānd, op. cit.,p. 290,Ind. ed.,p. 124; Khvān-
damïr,op. cit.,p. 80.
82Vassāf,loc.cit.,Mīrkhvānd, loc.cit.,Ind. ed.,p. 124; Khvāndamīr, loc.cit.
83Unfortunately we do not knowwhetherand to what extentall these
decisionswerein factput intopractice.
84Yule-Cordier, op. cit.,I, p. 425.
85Vassāf,op. cit.,p. 272; Mīrkhvānd, loc.cit.,Ind. ed.,p. 124; Khvāndamīr,
loc.cit.,speaksonlyabouttheappointment oftax-gatherers.

the neighbouringdistricts.We are told that Ordūbūqā took with him

several donkeyloads of chao as well as the apparatus necessary for
manufacturingthe same fromwhite paper, and the state seal, the Al.
Ghāzān, who was just then on a campaign against Bāydū, orderedthe
whole of Ordübüqä's paraphernalia to be burnt,for "how could paper
withstand the intense moisture of Māzandarān, if not even iron and
weapons could do so ?"86
The production and issue of ch'ao was served in the districtsmen-
tioned87by the so-called ch'ao-Jchānass(paper-moneyoffices),which
employed numerous persons, such as managers, secretariesand cash-
iers, not to mention the large number of workmen engaged in the
manufactureof the certificates.88 The sums required forthis operation
were oftenvery considerable89,as Vassāf tells us. Thus in Shīrāz a sum
of 5 tūmān, i.e. 25,000 dinārs, was expended on the ch'ao affair.90
The advantages of paper currencywere set forthto the population
in officialcommunications. One such declaration, a highly detailed
one, was addressed to the town of Shīrāz, as Vassāf relates. In brief,
its contentsamounted to the assurance that ch'ao would banish poverty
and want from the world and would abolish all differencesbetween
rich and poor.91Even poets sang the praises of the ch'ao in order to
curry favour with Gaykhätü and his minister. Vassāf has handed
down one such qiťa written at the time: "If ch'ao is in circulation
in the world,the glory of the Empire will endure forever."92
Gaykhâtû's paper currency, as its purely Chinese designation
"ch'ao"93 implies,was a fairlyexact copy of its Far Eastern counter-
86Rashîdal-Dīn,Ôãzãn-Tj.an Jahn,p. 56; 'Alīzādah,p. 287 (Persian).Accord-
ing to J. v. Hammer -Purgstall, cit.,I, p. 405,it was not Ghāzānbut Prince
loc.
AghulinKhurāsānwhogavethisorder.I havenotyetbeenableto ascertain from
whatsourceHammer-Purgstall derivedthisinformation.
87Cf.Vassāf,loc.cit.;Mīrkhvānd, Ind. ed., p. 124and Khvāndamīr, loc.cit.,
p. 79.
88Cf.Vassāf.loc.cit.;Mīrkhvānd, Ind. ed., p. 125.
89Vassāf,ibid.;Khvāndamīr, op. cit.,p. 80.
90Onlyin Vassāf,op. cit.,p. 274.
91Vassāf,op. cit.,p. 273. The contentsofthismanifesto are also to be found
in Mīrkhvānd, loc.cit.,Ind. ed.,p. 125.
92Vassāf,loc.cit.;Mīrkhvānd, loc.cit.,Ind. ed.,p. 125,and Khvāndamīr, loc.
cit.Cf.also thecontinuer ofBar Hebraeus,op. cit.,p. 497: "Andtherewas not
a singlemakerofverses,whodidnotgibeat thisact and nota singlesinging man
whodidnotstringtogether poemsand dittiesand admirableverses[aboutit]".
93"Châw", i.e. the Iranian way of writingthe Chineseword cKao, the

124 KARL JAHN
part.94Even if we were not in possessionof Vassāf 's detailed and rela-

tivelyprecisedescriptionof the Iranian cA'ao,95we should still easily be
able to forman essentiallycorrectpictureofits appearance and nature96
by means of Chinese and European sources97dealing with the paper
currencyof China at the time of the Yuan dynasty. Apart fromVas-
sāf,98the only Near Eastern source to whichwe owe numerousrelevant
designation forpapermoney.It firstappearsin thisformunderthe Sungand
Kin dynastiesroundabout the middleof the 12thcentury, whileamongthe
Mongolsit had beencustomary sincethetimeofÖgödei.Cf.BiotinJA,3e série,
Vol. IV, pp. 247 and 441; E. Quatremère in NoticesetExtraits. . ., Vol. XIV,
(1843),p. 508, and Th. F. Carter2, op. cit.,p. 238,Note 10.
94As we read in Rashīd al-Din,Va§§āf,Hamd-Allāh Ķazvīnī,Mīrkhvānd
and Khvāndamīr. The continuer ofBar Hebraeuson theotherhandappearsto
havebeenentirely ignorant ofitsChinese origin, forherefersto itas an invention
ofSadr al-Din's.
05Vassāf,op. cit.,p. 272; Mīrkhvānd, op. cit.,p. 289 and Khvāndamīr, op.
cit.,p. 80.
98P. Kozlov's discoveriesofpapermoneyat Khara-Khoto,mentioned later
on in the text,have conclusively established thereliabilityofour information.
97The Europeanand non-Islamicrecordsdatingfromthe Mongolperiod
thatdeal with,ormerelymention, Chinesepapercurrency are thefollowing, in
chronological order: WilliamRubruck'saccount of his travels (1253- 55),
translated byFr. Risch,Wilhelm vonRubrucJc, Reisezu denMongolen , Veröffent-
des für
lichungen Forschungsinstituts vergleichende Religionsgeschichte an der
Universität Leipzig,Reihe II, Heft 13 (1934),p. 230; MarcoPolo, besidesthe
alreadycitededitionand translation ofPauthierand Yule-Cordier, in German
translation by H. Lemke, pp. 266 and 269; Odorico de Pordenone (1320- 30)
in H. Yule, CathayandtheWayThither, vol.II, HakluytSociety,2ndSeriesvol.
XXXIII, p. 196; JourdainCatalanide Séverac,Mirabiliadescripta, textand
translationby H. Cordier,(Paris,1925),p. 90; FranciscoBalducci Pegolotti
(circa1340)inYule's Cathay, vol.Ill, pp. 154- 155,cf.E. Friedmann's excellent
treatise"Der mittelalterliche Welthandelvon Florenznach F. B. Pegolotti",
Abhandlungen derJe.Je.geographischen Gesellschaftin WienX, No. 1 (1912),pp.
19- 21; Jean de Cora, (d. 1346),"Le livre de l'Estat du Grand Caan. . ."
. . . publishedby E. Jaquetin NouveauJournalasiatiqueN°- 31, (1830),pp.
57- 72; Haythonof Gorhigos, cf. F. E. A. Krause,"Das Mongolenreich nach
der Darstellungdes Armeniers Haithon", Ostasiatische Zeitschrift VIII, pp.
238-267, (1920),p. 247.
98In Rashīdal-Dinthereis nothingat all to be foundaboutthis.The first
relativelydetailedreportsby Islamicauthorson the Chinesepaper currency
date fromthe 14thcentury. Theyare derivedfrom:"Shihābal-Dinal-'Umari"
(d. 1338),partialpublicationofthetextand translation ofthework:"Masālik
al-Absārfimamālikal-Amsār"by D. Quatremère in NoticesetExtraits. . ., Vol.
XIII, (1838),p. 223 and in Ch. Schefer'sarticle:"Relationsdes Musulmans
avec les Chinois"in Centenaire de VÉcoledeslanguesorientales vivantes, (Paris,

details, that of the continuerof the chronicleof Bar Hebraeus, remains

in spite of its undisputed value for the historyand civilization of the
Mongol period in Iran, still too general and inadequate to serve as a
basis for any sort of definiteconclusions.
It has been proved historicallythat as early as the 9th centuryA. D.
paper currencywas in circulationin the Middle Empire." From that
time up to the Mongol era we see it constantlyre-appearingand then
disappearing again.100 Ögödei (1227- 1248), the youngest son of
Chingiz-Khān, renowned equally for his generosityand his sense of
justice, was the firstof the Mongol rulersto decide, in the year 1236,
to issue paper money, relatively modest in compass though it was.101
The thirdofhis successors,the great Qubilay (1260- 1294) underwhom
the empire attained its maximum geographical extent and reached
the zenith of its power throughthe incorporationof the South Chinese
Empire of the Sung, at the same time enjoying a period of cultural
and economic prosperity,had followedthe example of his predecessors
and in the course of his long reign surpassed them many times in this
respect.The chroniclestell us in detail of no less than threelarge issues
of paper currencyin the years 1260, 1287 and 1286 respectively.102
Evidently Marco Polo made the acquaintance of the ch'ao at this time
when it was at its peak under Qubilay Qa'an, and of all European
travellers of that period he has left us not only the most instructive
1895),p. 17ff.: Ibn Battūta(textand transi,by C. Defrémery et B. R. Sangui-

netti,[Paris,1853],pp. 257- 8 and Germantranslation by H. v. Mžik,p. 417);
Maķrīzi(in S. de Sacy's Chrestomathie arabe, I, p. 150- 151); 'Abd al-Razzāķ
al-Samarķandīin "Matla'al-Sa'dainva Maģma' al-Bahrain"and Firishta's
Historyof India. Cf. Quatremère's text and notesin Noticeset Extraits. . .,
Vol. XIV, (1843),p. 333,417,503.
99Cf.J. Klaprothin JA, 1èresérie,I. p. 260; Biot, loc. cit.,p. 125íf.;W.
Vissering,On ChineseCurrency, (Leiden, 1877); Yule-Cordier, op. cit. I, pp.
426-27; St. Balázs in MSOS XXXV (1932),p. 33ff.;Carter2, op. cit.,pp. 70-
81; furtherbibliographical data are to be foundin B. Spuler,Die Mongolen in
Iran (Berlin,19552),pp. 87- 88.
100J. Klaproth,op. cit.,p. 260- 264; Biot,op. cit.,pp. 125- 41 and 207- 52;
Yule-Cordier, op. cit.,pp. 426- 27.
101J. Klaproth,op. cit.,p. 265,is evidently ignorant ofÖgödei-Qaan'spaper
currency, forhe describesQubilayas theMongolinitiator ofthisinstitution. As
opposedto thiscf.Biot,op. cit.,p. 441 and Carter,op. cit.,p. 75.
102Cf.Biot,op. cit.,pp. 442- 45. G. Pauthiergivesa listoftheemissions of
papercurrency duringthereignofQubilay;see Yule-Cordier, op. cit.,I, p. 426.

126 KARL JAHN
description of this institutionbut at the same time one that bears

unmistakable evidence of his great admiration for it.103This may be
one of the reasons foran attempt to associate the episodic appearance
of the oKao in Iran with Marco Polo's stay in that country.104
'
Gaykhātū-Khan s paper money was in the formof an oblong certi-
ficatewith several words in Chinese inscribednear the edge.105At the
top, on both sides, was to be foundthe shahāda, the acknowledgement
of debt, as a concession to the Moslem population of the empire, and
underneaththis the surname given to Gaykhâtû eitherby the Mongol-
Tibetan bakhshisor by the qãms: 'Irīnjīn dūrjī', i.e. 'Precious Stone',
or 'CostlySceptre'.106The same inscriptionis to be foundon Gaykhâtû s
coins.107The value of the certificatewas printed in figureswithin a
103Cf.Yule-Cordier, op. cit.,pp. 423- 25.

104Ibid.
105"At theedge" is to be foundonlyin Vassāf,op. cit.,p. 272; Mīrkhvānd,
Ind. ed.,p. 125,and Khvāndamīr, op. cit.,p. 80,giveonly:"therewereonlya
fewwordswritten in Chinese"; to mymindit is quitelikelythatthecertificates
weresurrounded by a decorative bordersuchas is foundon thosediscovered by
Kozlov; cf.Kozlovop.cit.,pp. 122and 123,andV. Kotwicz,op.cit.,p. 475.Similar
ornamental borders arealreadyfoundononeofthecopperplatesusedforprinting
thebonds,datingfrom1214(cf.J. Mullie,"Une plancheà assignatsde 1214",
T'oungPao, XXXIII, Liv. 2, (1937),p. 156) and lateralso on the currency
notesoftheMingperiod(14thcentury)reproduced by Yule, op. cit.,I, p. 424.
106That "Irīnjīndūrdjī" (thusin Rashīd al-Dīn,Abāģā bis Gaihätü,Jahn,
p. 82 [Persian]),Mīrkhvānd, op. cit.,p. 289; Ind. ed.,p. 125; Khvāndamīr, op.
cit.,p. 80; Vassāf,op.cit.,p. 260and 272)shouldbe readas theTibetan"rintchen
do-rdje"in the meaningof "preciousstone"was firstrightly recognized by E.
Burnouf.Cf.F. de Saulcy: "Sur quelquespointsde la numismatique orientale",
JA,3e série,XIII, p. 131- 132.According to F. Erdmann,whorefersto Kova-
levskiandPopov,itmayalsobe translated as "sceptre,force"insteadof"stone".
Cf.JA,4e sér.,II, p. 297,and E. Drouin:"Noticessurles monnaiesmongoles".
JA, 9e sér.,VII, p. 524.It is worthremarking thatArghūnalso borethisname.
Cf.Drouin,op.cit.,p. 525.NowheredoesVassāfassertthatthenamewasChinese
(Uighur),as Hammer-Purgstall, op. cit.,I, p. 428,and afterhimHoworth,op,
cit.,III, p. 357,willhaveit. Thiserrormayperhapsbe attributed to thefollow-
ingpassagefromVassāf(op.cit.,p. 260): "The Chinese statethat... in decrees
and correspondence thenameoftheIlkhānis written " Irlnchlnturchi". Accord-
ingto Rashīdal-Dīnit was thebakhshiswhoconferred thisname on Gaykhâtû,
accordingto Mīrkhvānd and Khvāndamīrthe qãms (seers)of China.At any
rate the namewas writtenin Arabicor Uighurscript.It was improbable that
it was in hP'ags-pascript.
107Cf.Lane-Pooleand E. Drouin,loc.cit.

circle in the middle of the note108,and underneath this were the

words:109"The Pādishāh of the World introduced this blessed paper
moneyinto the empirein the year 693 (1294). He who forgesit or alters
it in any way will be put to death with wifeand child and his property
will be confiscated by the State."110The continuerof Bar Hebraeus
differsfrom the historians in that he records that the notes were
stamped in red.111This stamp, which had nothingto do with the circle
mentionedby the Islamic authors,representedthe state seal, the Al ,112
whichwas made of jade and had been grantedto the ruler at the time.
It is known that the AI was among the apparatus sent to Ghāzān by
Gaykhâtû forthe purpose of making paper money. It may be assumed
that this seal could be used separately for stamping.
Whether the reverse of the notes was printed in similar fashion or,
what is far more likely,with a greatly abbreviated text, and whether,
as on the notes discovered by P. Kozlov, there were any other official
marks,113cannot unfortunatelybe gathered from our sources; but it
108Vassāf,op. cit.,p. 272; Mīrkhvānd.op. cit.,p. 289, Ind. ed., p. 125;

Khvāndamīr, op. cit.,p. 80. According to Vassāfand Mīrkhvānd the value of
thenotewas indicatedoutsidethetruecentreofthelatter.
109According to Mīrkhvānd, op. cit.; Ind. ed.,p. 125; and Khvāndamīr, loc.
cit.,thefollowing wordsindicateonlythelistofcontentsofall thatwas to be
readon thenote.
110Cf.Vassāf,loc.cit.;cf.also Mīrkhvānd, loc.cit.,and Khvāndamīr, loc.cit.
Onthebondsdiscovered byP.Kozlovas wellas onthecopperplatesdescribed by
J. Mullie,theforger was threatened withthe deathsentence, in thelattercase
deathbydecapitation. But hisrelatives wereexemptedfromthedeathsentence,
theseverity ofthepunishment beingtherefore slighter in theeast thanin Iran.
Cf.V. Kotvicz.op. cit.,p. 476,and J. Mullie,op. cit.,p. 156.
111Continuer of Bar Hebraeus,op. cit.,p. 497. Cf.herethe red and black
stampingon the bondsdiscoveredby P. Kozlov,op. cit.pp. 122, 123,and P.
Kotvicz,op. cit.,p. 477.
112The preserved Mongolianseal impressions all showrectangular formsand
are entirelycoveredwithstrongly stylizedChinesecharacters.Most of them
turnedout vermilion-coloured in print.Cf.also Yule-Cordier, op,cit.,I, p. 424.
In Rashīd al-Dīn's Historyof Ghāzān-Khān we hear that at Nourūz'request
(afterGhāzān's victoryoverBaydu) the hithertorectangular Ältamghawas
henceforth givena circularformand adornedwiththe name of God and the
Prophet.
113On thevariouskindsofIlkhānsealsand theiruse cf.meanwhile thedata
drawnfromRashīd al-Dīn by D'Ohsson,op. cit.IV, p. 411. (thoughwhat is
quotedhereonlyrefers to Ghāzān'speriod,in generalit is also heldto applyto
thatofhispredecessors).

128 KARL JAHN
is quite possible that this was indeed the case in view of administrative
customs114prevalent elsewhere.
The continuerof Bar Hebraeus finallystates that as regardsmaterial
the money certificatesor notes were of paper made frompapyrus,115
whereas Vassāf, Rashīd al-Dīn, Mīrkhvānd and Khvāndamīr speak
constantly only of paper.116From this informationwe can therefore
draw no definiteconclusionas to what species of paper was employed.
The native paper industrywhich, as is known, owed its existence to
the firstencounterbetween the world of Islam and the Middle Empire
in the 8th centuryA. D.,117generally made use of linen and hempen
rags.118But in addition, paper was probably manufacturedfromthe
bark of the paper-mulberrytree (broussonetia papyrifera)119 and
114Cf.D'Ohsson,op. cit.IV, p. 410ff.

116Continuer ofBar Hebraeus,op. cit.,p. 496; it is ofcourseentirely out of
thequestionthattheauthorwasthinking ofpapyrus, whichhad beenoutofuse
formorethanthreehundredyearsas a writing-material.
116Rashīdal-Dīnspeaksof"Kāghid-isapīd",("whitepaper"); it is question-
able whether sortofpaperin mind.
he had a specific
117Cf.A. F. R. Hoernle,"Whowas theInventorofRag Paper?" in JRAS,
(1903),p. 663ff.;and F. Hirth,Chinesische Studien , I , (1890),p. 270.Paperas a
Chinesearticleof importwas at any rateknownin Iran duringtheSassanian
period.Cf.B. Laufer,Sino-Iranica , (Chicago,1919),p. 559.
118Papermadeoflinenand hempenfibres is,as we know,regarded as having
beeninventedbyTsai-Lunroundabouttheyear100A. D. (cf.F. Hirth,T^oung
Pao , 1èresérie,Vol. 1., p. 10; O. Franke,Geschichte des chinesischenReiches
(Berlin,1930),I, p. 414; Th. F. Carter,The Invention ofPrinting in Chinaand
Its Spread Westward , (New York, 1935),p. 3; and that it soon afterwards
commenced itsjourneyto theWestcan clearlybe demonstrated bythediscover-
ies made in CentralAsia duringrecentyearsby Sven Hedin,Sir AurelStein,
A. v. Le Coq and others.Cf.Carter, op. cit.,p. 132if.; and further hisaccountsof
theearliestcomposition ofArabianand Turkestan papersbasedon theresearch
carriedout by J. V. Wiesnerand J. v. Karabacekand theChineseoriginofrag
paper,op. cit.pp. 4- 6; cf.also J. v. Wiesner, Die Rohstoffe desPflanzenreiches
,
Vol. I, 8 A., p. 680if.
119From F. Hirth'sidentification of the PersianKãghidwiththe Chinese
Ku-chi, i.e. papermade fromthe barkofthe papermulberry tree(Hirth,op.
cit.,p. 12)it wouldappearthatthePersians,at anyrateat first, madeuse ofthe
same ingredients forthe manufacture of paper.The information containedin
the Kitabal-Fihrist,1., c. 21 (citedafterJ. v. Karabačekin MPER II - III,
p. 114)to theeffect thatearlyIslamicpaperwas madeof "grassesand plants"
mayalso be evidenceofthe same.As to laterperiods,unfortunately no infor-
mationis to be gatheredfromtheliterature, neither have anyinvestigations on
thesubjectbeencarriedout up to thepresent.Cf.howeverB. Laufer,op. cit.,

maybe also fromthe morusalba,120which came fromthe Far East, and

fromthe native morusnigra.121Seeing that at the time of the Mongols,
paper made from the various barks122mentioned was used in the
manufactureof notes outside Iran, it seems obvious to assume that
paper of the same kind would have been employed for the Iranian
ch'ao, in view of the fact that in other fieldsthe example of China was
closely followed. The manufactureof suitable vegetable papers may
have been revived at this point of the Mongol period- if indeed it
had ever ceased- while the methods employed in the Far East had
meanwhile no doubt been improved to an important extent. The
'speciality of Tabriz'123and the paper known as 'khatâyï', both of
which were probably made after eastern samples, were perhaps also
partly composed of such vegetable matter.Whetherour currencynotes
were made entirelyof this vegetable paper is of course a question that
must remain unanswered. From one passage in Vassāf,124where we
read that in Shīrāz paper was only to be procured at the expense of
one's life,since all stocks were being used forthe manufactureof ch'ao,
it seems to me obvious that no preferencewas given to any particular
sort, unless of course the Shīrāz paper industry,apparently founded
duringthe Mongol period,was engaged exclusivelyin the manufacture
of vegetable papers.
p. 557- 59,whereon gorundsofsomeimportance he conteststheChineseorigin

oftheword"Kāghid". The reasonofthechoiceofpapermadefromthepaper-
mulberry treeforthemanufacture ofpapercurrency is presumably to be sought
in thecharacteristic qualitiesofthismaterial,namelythatit possessesa close
and yet fibrousweave,is long-fibred and ofa plianttexture.Cf.J. v. Wiesner,
loc.cit.,p. 669.
120It is notquitecertainwetherin Irantoopaperwas madefromthebarkof
themorusalba, thatwas cultivated thereto a largeextent.In Chinaat anyrate
paperofthiskindwas employed formakingpapermoney,justas wasthatmade
fromthebarkofthebroussonetia papyrifera. Cf.Yule-Cordier, op. cit.,I, p. 430;
Cordier, Notesetaddenda , p. 70; B. Laufer,op. cit.,p. 582.
121According to A. Engler,Syllabusund Pflanzenfamilien , 7thed., (Berlin,
1912),165;and J. v. Wiesner, op. cit.,p. 454,themorusnigrais nativeto Persia.
Whetheritsbarkwas theretoo used forthemanufacture ofpaper,as it was in
East Turkestan(cf. J. v. Wiesner,Mikroskopische Untersuchungen alterost-
turkestanischen Papiere,p. 9) has notyetbeenproved.
122Cf.Yule-Cordier, op. cit.I, p. 430,and Cordier, op. cit.p. 70.
123Cf.J. v. Karabačekin M PER II- III, p. 127.
124Vassāf,op. cit.,p. 274,speaksoffortyspeciesofpaperthatwerein circu-
lationin Shiraz;but no doubtthismustbe understood onlyfiguratively.

130 KARL JAHN
Though several of our sources contain informationon the scale of

values of the Iranian paper currency,only Vassāf's account seems to
me plausible. Accordingto this historian,the currencynotes ran from
a half-dirhamup to tendinārs,120whereasthe continuerof Bar Hebraeus
speaks of one dīnār as being the lowest denomination.126 Undoubtedly
incorrecttoo are the accounts of Mīrkhvānd and Khvāndamīr, who
state that the denominations ran from one to ten dirhams,127There
is nothing that better illustrates the experimental and incidental
character of Gaykhâtû's paper currencythan the fact that the issue
was confinedto bank notes of such low values.
In Iran as in China it was nominallypossible forholdersof worn-out
notes to exchange themat thech'ao officesfornew ones aftersubtraction
of 10% of their nominal value.128This discount, which seems some-
what high in comparisonwith that customary129 in Qubilay's empire,
flowedthroughthe officesmentionedabove into the state treasury.
Unfortunatelywe possess no informationat all regardingthe manner
in which the bonds were manufactured.Yet it is certain that use was
made of the printingprocess practised in China since the 8th century
A. D., namely block-printing.130 It is not possible to ascertain whether

126Continuer ofBar Hebraeus,op. cit.,p. 497.
127Mīrkhvānd, op. cit.,p. 289,and Khvāndamīr, op. cit.,p. 80.
120MarcoPolo speaksof 3% discountthatwas customary in theEmpireof
theGreatKhan whenexchanging old notesfornewones,but it mustbe added
that theyhad to be of the same issue.In connection withcertainissues,for
instancein theyear1288,we evenhearofa discountof80%! Cf.Yule-Cordier,
op. cit.,I, p. 427; J. Klaproth,op. cit.,p. 265; Biot,op. cit.,p. 244.
180On Chineseblock-printing, cf.Rashīdal-Dīnon thesubjectin hisHistory
oftheWorld.Thissectionwas subsequently incorporated byBanākatī,Ghāzān's
courtpoet,intohisownTďrikh-i- Banākatī.Transi,to be foundinE. G. Browne,
op. cit.III, pp. 101- 103.Cf.also Carter2, op. cit.,p. 31- 32.ApartfromRashīd
al-Dīn'sHistoryofChina,fromwhichBanākatī made an extractin 1317 (cf.
W. Bartold-(H. Massé),article"Banākatī"inEI, vol.I, Leiden,I960)), p. 1000,
mentionof Chineseblock-printing and also of paper currency is made in the
introduction to a copiousworkon anatomythatwas translatedfromChinese
intoPersianby orderof Rashīd al-Dīn in 1313.The sole MS of thisvaluable
workis to be foundin thelibraryoftheAya Sofya,No. 3596.A Turkishtrans-
lationoftheintroduction was madeby AbdülbakiGölpmarli in 1939: Tansuk-
nameiIlhan derFünunu UlumuH atai,Mukaddemesi, (Istanbul,1939),witha
foreword by ProfessorSüheylÜnver. Cf. also Karl Jahn, "Some Ideas of

the printingwas done with wooden blooks or with copper plates131

such as had been used in the China of Qubilay since 1277. But the
above-mentionedpassage fromRashīd al-Dīn would lead one to decide
conclusivelyin favour of the former,namely wooden blocks,in view of
the mentionof the burningofUrdūbūqā's eh'ao apparatus by Ghāzān.
The manufactureof the printingplates- whatever they were made
of- was mainly,if not entirely,in the hands of Chinese artisans who
inhabited the Chinese quarter of the then flourishingcapital city,
Tabriz.132Evidence of this is to be foundnot only in the Chinese char-
acters appearing on the bonds, but to no less an extent in the inciden-
tal appearance of the whole process of printing,i.e. block-printing,in
the Islamic orient. Otherwise,this process, known and established to
some extent in the country as it was, could never have disappeared
so completelyas it did. As to the colors,vermilion133 was the only one
used except of course forprinter'sink which, in spite of the existence
of a native article134of practically the same composition,was prob-
ably soot-colouredink made froma Chinese recipe.
From the point of view of cultural history, Gaykhatü's currency
notes are extremely remarkable as being almost the only known
examples135of the use of block-printingin the Near East. And it would
be more remarkable still if there turned out to be furtherconnections
- that however still remain to be
explored- between them and the
appearance of the block-printingthat was common in Germanyat the
end of the 14th century,the precursorof Gutenberg'sbook-printing.136
Following Gaykhatü's yarVigh , throughfear of the sword,the ch'ao
was accepted as legal tender forthe space of one week, but in trading
Rashīdal-Dīnon ChineseCulture",in Rashïdal-Dïn Commemoration Volume ,

(Wiesbaden,1970),p. 135ff.
131Biot,op. cit.,p. 444. For an accountofa copperplatedatingfrom1204
usedin printing papermoney,cf.Mullie,loc.cit.,p. 150ff.
132Carter,op. cit.,p. 169.Cf.Also K. Jahn,"Täbris,ein mittelalterliches
Kulturzentrum zwischenOst und West", Abhandlungen der österreichischen
AkademiederWissenschaften , 105, 1968 (Wien,1969),p. 209.
133Continuer ofBar Hebraeus,op. cit.,p. 497; cf.also Carter,op. cit.,p. 193,
Note 9, and p. 201,Note 7.
134The inkused in Egyptianblock-printing is ofthe same composition. Cf.
Carter,op. cit.,p. 25.
135On thesporadicappearanceofblock-printing in Egypt,cf.Carter,op. cit.,
p. 138.
138Carter,op. cit.,p. 171.

132 KARL JAHN
circles it was categoricallyrejected. This informationand that which

follows,which however only describes conditionsin the capital city of
Tabriz, we owe chieflyto Rashīd al-Dīn,137who, in his capacity of
physician-in-ordinaryto the Ilkhān,138may be regarded as an eye-
witness, and also to Vassāf and the continuerof Bar Hebraeus. As is
generally the case, Mīrkhvānd and Khvāndamīr give us hardly any-
thing other than extracts from the work of Rashīd al-Dīn.139 The
rejection of the paper currencymeant that, in Tabriz, at least, most
of the inhabitants- as can be read everywhere - had to leave the
town and consequently became scattered all over the country.The
fact that all foodstuffs(and textiles) had been removed from the
market was an additional reason for the population to repair to the
gardens outside the city where they could eat the fruit.Thus it was
that such a populous town as Tabriz soon became almost entirely
deserted.Only the Pāzār showed any signsoflife,ifwe are to believe the
continuerof Bar Hebraeus.140One day Gaykhâtû, apparentlyunaware
that anything was amiss, happened to pass through the Pāzār and
saw to his astonishmentthat the stalls were empty. On enquiringinto
the reason, he was informedby Sadr al-Dīn that Sharaf al-Dīn Lākūshī,
the superintendantof the Pāzār, had died and that the inhabitants of
Tabriz were accustomed to give expression to their griefby staying
away fromthe market. The authenticityof this anecdote, as related
by Rashīd al-Dīn, must of course remain open to question, but mean-
while it serves to confirmand illustrate what has been told above.
Caravan trafficcame to a complete standstill,forbrigands and tramps
made the roads unsafe and robbed everyonethey could lay hands on of
everythingthey had on them, right down to the skin. They lay in
wait for passers-by on the roads leading fromthe gardens,and when
they came upon some unfortunateloading up a donkey with corn or
fillingbaskets with fruit141obtained with great difficulty,or bringing
such to his home, they took it from him. But if he resisted they
would say: "Sell it to us forblessed ch'ao and tell us whereyou bought
137What now followsis almostentirelybased on Rashīd al-Dīn'saccount.

Cf.Abāģā bisGaihātū,Jahn,p. 87; 'Alīzādah,op. cit.,pp. 239- 41 (Persian);
(Arends),ibid., pp. 137- 38.
Russiantranslation
188S. E. Quatremère, op. cit.,p. VIII.
139 Mīrkhvānd,op. cit.,p. 125,and Khvāndamīr, op. cit.,p. 80.
140ContinuerofBar Hebraeus,op. cit.,p. 497.
141Mīrkhvānd, op. cit.,p. 125: "cornforfivepersonsor onebasketoffruit".

the fruit." "In other words", says Rashīd al-Dīn, "the people were
completely at the mercy of this ill and the poor raised their hands
imploringlyin prayer".142Compared with the prosperity(that Tabriz
had formerlyenjoyed), no words are able to express the hunger,dearth
and want which had then befallen the city, writes the continuer of
Bar Hebraeus.
Vassāf 's descriptionof the same events agrees in essentials with that
of the historian just quoted. According to his assertions, also to be
found in Mīrkhvānd and Khvāndamīr, the effectsof the ch'ao were
already felt only three days after its issue:143the town was deserted
and-trade and commercewere completelyparalysed. The price of food
rose so high that one dlnār-i-rābihfora portion of bread sufficientfor
one person was considered cheap.145An idea of the maximum prices
reached at this time at the horse-marketat Tabriz is conveyed by an
amusing little scene imparted by Vassāf s informant:the price of a
horse, forwhich 15 dinārs would probably have been twice its value,
was finallyfixed at 150 paper dinārs. But beforethe transaction was
concluded, the seller, most likely out of his head with joy at the high
price his animal had fetched,swung himselfinto the saddle and rode
offbeforethe astonished gaze of the spectators.146The original price
was thus in this case increased ten to twenty-fold.As a result of the
disastrous effectof the ch'ao on commerciallife,we are told by Rashīd
al-Dīn, steps were taken to withdrawthe ch'ao fromcirculationwith-
out furtherdelay.
In addition to the passive resistance offeredby the people to Sadr-i
Jihān's reforms,there was also violent public opposition. The target
of the animosityand indignationof the masses was of course in the first
place the men responsible for the institutionof the measure, namely
Izz al-Dīn Muzaffar147 and Sadr al-Dīn. The formerwho, in recognition
142Cf.also thecontinuer ofBar Hebraeus,op. cit.,p. 497.

143Vassāf,op. cit.,p. 274; Mīrkhvānd, op. cit.,p. 290,Ind. ed.,Vol. 5, p. 125,
and Khvāndamīr, op. cit.,p. 80, speak twoto threedays.
of
144Vassāfand subsequently Mīrkhvānd makethe striking comparison, viz.
thatTabriz"becameemptylikethebag ofpatienceofthepassionate".
146Howorth, op. cit.,III, p. 371,erroneously gives750dlnãrtor150dinar.
147Vassāf,op. cit.,p. 274,givesus two satiricalpoemson the detestedIzz
al-DīnMuzaffar ; a translation ofthefirstistobefoundinJ.v. Hammer -Purgstall,
op. cit.,I, p. 432- 33, and ofthe secondin E. G. Browne'sLiterary Historyof
Persia,III, p. 38.

134 KARL JAHN
of his services in this matterhad been granted the title of "'Amīd al-
Mulk", i.e. Pillar of the State, by Sadr-i Jihān, succeeded only by a
piece of luck in escaping the death whichthe tumultuousmasses in the
mosque had intended for him and his followers.148 Mīrkhvānd and
Khvāndamīr state that he was indeed put to death on thisoccasion.149
SimilarlySadr al-Dīn's brother,Qutb al-Dīn, the Qad! al-Qudāt, found
himselfso dangerously threatened by the people during the Friday
service in the Tabriz Masjid-i Juma1that the only way to save himself
was finallyto give permissionforfoodstuffs to be sold forcash. Rashīd
al-Dīn reportsthat a large numberof people were killed in conjunction
with this affair.150
The crowd,which did not acquiesce in the use of the despised paper
notes,151succeeded in forcingits way through to the Sāhib Dīvān.
The words with which he replied to theirabuse and scorn met with no
response. Astonished and disconcerted,he is said to have stood there,
for he was quite aware that to go back on his decision would mean
shaking his moral position to its foundations,but that on the other
hand he would be unable to forcehis will on the people152With these
fewphrases the continuerof Bar Hebraeus has succinctlycharacterized
the perilous position in which the governmentfound itselfand at the
same time has anticipated but leftunspoken the one and only accept-
able solution. When one day Sadr al-Dīn was riding through the
market- so we are told by Rashīd al-Dīn- a dervish seized his
bridle and called out to him. "The whole world smells of burnt liver
hasn't your sensitive nose smelt it yet?" Startled by these words,
Sadr al-Dīn, in consultation with his followers,is said to have got
Gaykhâtû to issue a yarlïghto the effectthat business in foodstuffsat
any rate was temporarilyagain allowed to be carried on for ready
cash.154Though we must admit that Sadr al-Dīn, who was nothingif
not courageous, allowed himselfto be intimidated by the threats of
148Vassāf,op. cit.p. 274.
149Mīrkhvānd, op. cit.,p. 291,Ind. ed.,Vol. 5, p. 125; Khvāndamīr, op. cit.
p. 80: "He is reported to have beenkilled."
150Rashīdal-Dīn,cf.AbāģābisOaihātū, Jahnp. 87; 'Alīzādah,op. cit., p. 241
(Persian).
152Ibid.
153Rashīdal-Dīn,cf.AbāģābisGaihātū, Jahn,p. 88; 'Alīzādah,op. cit.p. 241
(Persian).
154Ibid., 11. 7-8.

the populace, these same threats would never have induced him to
withdraw the paper currency, had it not been that the hoped-for
higherrevenues did not come up to his expectations,and, as a resultof
the ruinous effecton commercewhich only now really began to make
itselffelt,neitherdid the regularincomes. The decline in revenue from
taxation in trading centres such as Tabriz could not but have had
catastrophic effectson the state treasury in the long run. The repre-
sentations made to Gaykhätü by the Sāhib Dīvān and his followersto
persuade him to issue the yarlïghare thus, according to Vassāf, quite
understandable: "If this state of affairscontinuesfora few more days
the gloryof the empirewill be (irretrievably)lost forthe future".155
The date on which the yarlïgh came into force- which in theory
meant the end of the shortreignof the ch'ao - is unfortunatelynot to
be deduced fromthe Islamic sources. As the continuerof Bar Hebraeus
speaks of a period of two months during which trade and commerce
were at a standstill,it could at the latest have been about the middle of
the Dū'1-Hijja 693 A. H. (= about the middle of November 1294 A.
D.).156 In any case it appears fromthe list of contents of the yarligh,
merelytouched upon by Rashīd al-Dīn but more clearly indicated by
the continuerof Bar Hebraeus, that the ciïao was not withdrawnfrom
circulationat once but only gradually and with a well-advisedlenience.
The decree was welcomed with great joy and satisfactionby the whole
population and led to a speedy returnto normal conditions.157
So completelyand permanentlydid the Iranian ch'ao disappear that
not even its name has survived in the Persian vocabulary.158But in
rejectinga new regulationthat was regarded as a nuisance, the whole
of the Islamic world surrenderedone of the greatestgiftsfromthe Far
East, the art of printing.

157Cf.Rashīdal-Dīn,Vassāfibid.; Mīrkhvānd, Ind.ed., p. 125,andKhvānda-
mīr,loc.cit.,p. 80.
158Cf.P. Horn,Grundriß , II, p. 273,and W. Barthold'sar-
d. iran.Philologie
ticle"Gaiļjātū",in EI, Vol. II, (Leiden,1927),p. 135.


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PAPER CURRENCY IN IRAN: A contribution to the cultural and economic history of Iran in

the Mongol Period

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PAPER CURRENCY IN IRAN

A contributionto the cultural and economichistory

In the historyof the world the empire of Chingiz-Khān formedthe

* RevisedEnglishtranslation of "Das iranischePapiergeld.Ein Beitragzur

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whichwas enjoyed, chieflyby the western,Mongol parts of the realm.2

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rial arts out of consideration- the economic and practical spirit of

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The object of the Iranian paper currencyemissionin the year 1294,

9 TaWlkh-iVassāf, Bombayeditiondated 1269 (= 1852),p. 271, and the

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Diyar Bakr and Khurāsān were particularlyhard hit,11does not at a

This content downloaded from 62.122.79.31 on Tue, 17 Jun 2014 14:00:23 PM

particularly his generosityhad already won for him a large circle of

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conversionto Islam and the renewedirresistibleprogressof the Islamic

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treasures Arghūn-Khān had amassed and stored in Sughûrlûq, but

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28Vassāf,op.cit.,p. 264; Mirkhvānd, Ind. ed.5,p. 123;Khvāndamīr, op.cit.,

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neitherracial nor religiousdifferences played any role at all. Only thus

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custom with men of letters- do not in themselvesprovide sufficient

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camp of the Ilkhān at Karāchāl on the Kūra, in order to findout the

42Vassāf,op. cit.,p. 262; Mīrkhvānd,

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khātū had had a list drawn up of persons eligible for nomination as

46Vassāf,op.cit.,p. 265andKhvāndamīr, Ind. ed.,

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Sāhib-i Dīvān we are indebted particularlyto Vassāf, as well as to the

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60In additionto theexamplesto followinthetext,cf.Vassāf,op.cit.,p. 271;

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(Persian)of myeditionand on pp. 527- 8 (Persian)of'Alīzādah's;thesecond

This content downloaded from 62.122.79.31 on Tue, 17 Jun 2014 14:00:23 PM

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inhabitants of the provinces fled fromtheir native districtsand

Finally, in connection with the foregoing,one more particularly

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ed quite a way to the west.65And during such periods the Persians

85MarcoPolo (H. Yule, TheBoohofSerMarcoPolo, editedLondon,1875,1,

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THE INTRODUCTION OF PAPER CURRENCY

69Cf.Rashīdal-Dīn,AbāģābisOaihātū,Jahn,p. 86; 'Alīzādah,p. 239 (Per-

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flowedinto the imperial treasury.The Ilkhān, whose generosityall the

Thither , II, p. 196. Ibn Battūtā (editedby Defrémery-Sanguinetti, IV, p. 260)

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furtherthe makingof vessels fromprecious metals as well as in general

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the neighbouringdistricts.We are told that Ordūbūqā took with him

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part.94Even if we were not in possessionof Vassāf 's detailed and rela-