Identification -"Flying Cash

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The Answer is "Flying cash" refers to a paper-based credit system used during the Tang Dynasty in China (618–907 AD) to facilitate trade and reduce the risk of carrying heavy coinage over long distances. The system is considered an early form of currency or a precursor to modern paper money.

Merchants and traders who needed to transport large sums of money would deposit their coins with a government office or an authorized agency, which would issue a certificate or credit note for the deposited amount. This certificate could then be used to redeem the equivalent amount of coins at the destination city or another office within the network. The term "flying cash" derives from the way these certificates could "fly" across the country, unlike the heavy metal coins.

This system not only made long-distance trade more efficient and less risky by reducing the need to physically transport coins, but it also helped to manage the scarcity of metal currency and facilitated economic transactions. Over time, the concept of "flying cash" evolved, influencing the development of more sophisticated forms of paper money and banking practices in China and eventually spreading to other parts of the world.

Identification -"Flying Cash

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Identification -"Flying Cash

Short Answer

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Correct Answer:
Answered by ExamLex AI