On arriving at his capital of Cambaluc,{1} he stays in his palace there three days and no more; during which time he has great court entertainments and rejoicings, and makes merry with his wives. He then quits his palace at Cambaluc, and proceeds to that city which he has built, as I told you before, and which is called Chandu, where he has that grand park and palace of cane, and where he keeps his gerfalcons in mew. There he spends the summer, to escape the heat, for the situation is a very cool one. After stopping there from the beginning of May to the 28th of August, he takes his departure (that is the time when they sprinkle the white mares’ milk as I told you), and returns to his capital Cambaluc. There he stops, as I have told you also, the month of September, to keep his Birthday Feast, and also throughout October, November, December, January, and February, in which last month he keeps the grand feast of the New Year, which they call the White Feast, as you have heard already with all particulars. He then sets out on his march towards the Ocean Sea, hunting and hawking, and continues out from the beginning of March to the middle of May; and then comes back for three days only to the capital, during which he makes merry with his wives, and holds a great court and grand entertainments. In truth, ’tis something astonishing, the magnificence displayed by the Emperor in those three days; and then he starts off again as you know.
Thus his whole year is distributed in the following manner: six months at his chief palace in the royal city of Cambaluc, to wit, September, October, November, December, January, February;
Then on the great hunting expedition towards the sea, March, April, May;
Then back to his palace at Cambaluc for three days;
Then off to the city of Chandu which he has built, and where the Cane Palace is, where he stays June, July, August;
Then back again to his capital city of Cambaluc.
So thus the whole year is spent; six months at the capital, three months in hunting, and three months at the Cane Palace to avoid the heat. And in this way he passes his time with the greatest enjoyment; not to mention occasional journeys in this or that direction at his own pleasure.
Note 1.—This chapter, with its wearisome and whimsical reiteration, reminding one of a game of forfeits, is peculiar to that class of MSS. which claims to represent the copy given to Thibault de Cepoy by Marco Polo.
Dr. Bushell has kindly sent me a notice of a Chinese document (his translation of which he had unfortunately mislaid), containing a minute contemporary account of the annual migration of the Mongol Court to Shangtu. Having traversed the Kiu Yung Kwan (or Nankau) Pass, where stands the great Mongol archway represented at the end of this volume, they left what is now the Kalgan post-road at Tumuyi, making straight for Chaghan-nor (supra, p. 304), and thence to Shangtu. The return journey in autumn followed the same route as far as Chaghan-nor, where some days were spent in fowling on the lakes, and thence by Siuen-hwa fu (“Sindachu,” supra, p. 295) and the present post-road to Cambaluc.
You must know that the city of Cambaluc hath such a multitude of houses, and such a vast population inside the walls and outside, that it seems quite past all possibility. There is a suburb outside each of the gates, which are twelve in number;{1} and these suburbs are so great that they contain more people than the city itself [for the suburb of one gate spreads in width till it meets the suburb of the next, whilst they extend in length some three or four miles]. In those suburbs lodge the foreign merchants and travellers, of whom there are always great numbers who have come to bring presents to the Emperor, or to sell articles at Court, or because the city affords so good a mart to attract traders. [There are in each of the suburbs, to a distance of a mile from the city, numerous fine hostelries{2} for the lodgment of merchants from different parts of the world, and a special hostelry is assigned to each description of people, as if we should say there is one for the Lombards, another for the Germans, and a third for the Frenchmen.] And thus there are as many good houses outside of the city as inside, without counting those that belong to the great lords and barons, which are very numerous.
You must know that it is forbidden to bury any dead body inside the city. If the body be that of an Idolater it is carried out beyond the city and suburbs to a remote place assigned for the purpose, to be burnt. And if it be of one belonging to a religion the custom of which is to bury, such as the Christian, the Saracen, or what not, it is also carried out beyond the suburbs to a distant place assigned for the purpose. And thus the city is preserved in a better and more healthy state.
Moreover, no public woman resides inside the city, but all such abide outside in the suburbs. And ’tis wonderful what a vast number of these there are for the foreigners; it is a certain fact that there are more than 20,000 of them living by prostitution. And that so many can live in this way will show you how vast is the population.
[Guards patrol the city every night in parties of 30 or 40, looking out for any persons who may be abroad at unseasonable hours, i.e. after the great bell hath stricken thrice. If they find any such person he is immediately taken to prison, and examined next morning by the proper officers. If these find him guilty of any misdemeanour they order him a proportionate beating with the stick. Under this punishment people sometimes die; but they adopt it in order to eschew bloodshed; for their Bacsis say that it is an evil thing to shed man’s blood.]
To this city also are brought articles of greater cost and rarity, and in greater abundance of all kinds, than to any other city in the world. For people of every description, and from every region, bring things (including all the costly wares of India, as well as the fine and precious goods of Cathay itself with its provinces), some for the sovereign, some for the court, some for the city which is so great, some for the crowds of Barons and Knights, some for the great hosts of the Emperor which are quartered round about; and thus between court and city the quantity brought in is endless.
As a sample, I tell you, no day in the year passes that there do not enter the city 1000 cart-loads of silk alone, from which are made quantities of cloth of silk and gold, and of other goods. And this is not to be wondered at; for in all the countries round about there is no flax, so that everything has to be made of silk. It is true, indeed, that in some parts of the country there is cotton and hemp, but not sufficient for their wants. This, however, is not of much consequence, because silk is so abundant and cheap, and is a more valuable substance than either flax or cotton.
Round about this great city of Cambaluc there are some 200 other cities at various distances, from which traders come to sell their goods and buy others for their lords; and all find means to make their sales and purchases, so that the traffic of the city is passing great.
Note 1.—It would seem to have been usual to reckon twelve suburbs to Peking down to modern times. (See Deguignes, III. 38.)
Note 2.—The word here used is Fondaco, often employed in mediæval Italian in the sense nearly of what we call a factory. The word is from the Greek πανδοκεῖον, but through the Arabic Fandúḳ. The latter word is used by Ibn Batuta in speaking of the hostelries at which the Mussulman merchants put up in China.
You will hear further on how that there are twelve persons appointed who have authority to dispose of lands, offices, and everything else at their discretion. Now one of these was a certain Saracen named Achmath, a shrewd and able man, who had more power and influence with the Grand Kaan than any of the others; and the Kaan held him in such regard that he could do what he pleased. The fact was, as came out after his death, that Achmath had so wrought upon the Kaan with his sorcery, that the latter had the greatest faith and reliance on everything he said, and in this way did everything that Achmath wished him to do.
This person disposed of all governments and offices, and passed sentence on all malefactors; and whenever he desired to have any one whom he hated put to death, whether with justice or without it, he would go to the Emperor and say: “Such an one deserves death, for he hath done this or that against your imperial dignity.” Then the Lord would say: “Do as you think right,” and so he would have the man forthwith executed. Thus when people saw how unbounded were his powers, and how unbounded the reliance placed by the Emperor on everything that he said, they did not venture to oppose him in anything. No one was so high in rank or power as to be free from the dread of him. If any one was accused by him to the Emperor of a capital offence, and desired to defend himself, he was unable to bring proofs in his own exculpation, for no one would stand by him, as no one dared to oppose Achmath. And thus the latter caused many to perish unjustly.{2}
Moreover, there was no beautiful woman whom he might desire, but he got hold of her; if she were unmarried, forcing her to be his wife, if otherwise, compelling her to consent to his desires. Whenever he knew of any one who had a pretty daughter, certain ruffians of his would go to the father, and say: “What say you? Here is this pretty daughter of yours; give her in marriage to the Bailo Achmath (for they called him ‘the Bailo,’ or, as we should say, ‘the Vicegerent’),{3} and we will arrange for his giving you such a government or such an office for three years.” And so the man would surrender his daughter. And Achmath would go to the Emperor, and say: “Such a government is vacant, or will be vacant on such a day. So-and-So is a proper man for the post.” And the Emperor would reply: “Do as you think best;” and the father of the girl was immediately appointed to the government. Thus either through the ambition of the parents, or through fear of the Minister, all the beautiful women were at his beck, either as wives or mistresses. Also he had some five-and-twenty sons who held offices of importance, and some of these, under the protection of their father’s name, committed scandals like his own, and many other abominable iniquities. This Achmath also had amassed great treasure, for everybody who wanted office sent him a heavy bribe.
In such authority did this man continue for two-and-twenty years. At last the people of the country, to wit the Cathayans, utterly wearied with the endless outrages and abominable iniquities which he perpetrated against them, whether as regarded their wives or their own persons, conspired to slay him and revolt against the government. Amongst the rest there was a certain Cathayan named Chenchu, a commander of a thousand, whose mother, daughter, and wife had all been dishonoured by Achmath. Now this man, full of bitter resentment, entered into parley regarding the destruction of the Minister with another Cathayan whose name was Vanchu, who was a commander of 10,000. They came to the conclusion that the time to do the business would be during the Great Kaan’s absence from Cambaluc. For after stopping there three months he used to go to Chandu and stop there three months; and at the same time his son Chinkin used to go away to his usual haunts, and this Achmath remained in charge of the city; sending to obtain the Kaan’s orders from Chandu when any emergency arose.
So Vanchu and Chenchu, having come to this conclusion, proceeded to communicate it to the chief people among the Cathayans, and then by common consent sent word to their friends in many other cities that they had determined on such a day, at the signal given by a beacon, to massacre all the men with beards, and that the other cities should stand ready to do the like on seeing the signal fires. The reason why they spoke of massacring the bearded men was that the Cathayans naturally have no beard, whilst beards are worn by the Tartars, Saracens, and Christians. And you should know that all the Cathayans detested the Grand Kaan’s rule because he set over them governors who were Tartars, or still more frequently Saracens, and these they could not endure, for they were treated by them just like slaves. You see the Great Kaan had not succeeded to the dominion of Cathay by hereditary right, but held it by conquest; and thus having no confidence in the natives, he put all authority into the hands of Tartars, Saracens, or Christians who were attached to his household and devoted to his service, and were foreigners in Cathay.
Wherefore, on the day appointed, the aforesaid Vanchu and Chenchu having entered the palace at night, Vanchu sat down and caused a number of lights to be kindled before him. He then sent a messenger to Achmath the Bailo, who lived in the Old City, as if to summon him to the presence of Chinkin, the Great Kaan’s son, who (it was pretended) had arrived unexpectedly. When Achmath heard this he was much surprised, but made haste to go, for he feared the Prince greatly. When he arrived at the gate he met a Tartar called Cogatai, who was Captain of the 12,000 that formed the standing garrison of the City; and the latter asked him whither he was bound so late? “To Chinkin, who is just arrived.” Quoth Cogatai, “How can that be? How could he come so privily that I know nought of it?” So he followed the Minister with a certain number of his soldiers. Now the notion of the Cathayans was that, if they could make an end of Achmath, they would have nought else to be afraid of. So as soon as Achmath got inside the palace, and saw all that illumination, he bowed down before Vanchu, supposing him to be Chinkin, and Chenchu who was standing ready with a sword straightway cut his head off. As soon as Cogatai, who had halted at the entrance, beheld this, he shouted “Treason!” and instantly discharged an arrow at Vanchu and shot him dead as he sat. At the same time he called his people to seize Chenchu, and sent a proclamation through the city that any one found in the streets would be instantly put to death. The Cathayans saw that the Tartars had discovered the plot, and that they had no longer any leader, since Vanchu was killed and Chenchu was taken. So they kept still in their houses, and were unable to pass the signal for the rising of the other cities as had been settled. Cogatai immediately dispatched messengers to the Great Kaan giving an orderly report of the whole affair, and the Kaan sent back orders for him to make a careful investigation, and to punish the guilty as their misdeeds deserved. In the morning Cogatai examined all the Cathayans, and put to death a number whom he found to be ringleaders in the plot. The same thing was done in the other cities, when it was found that the plot extended to them also.
After the Great Kaan had returned to Cambaluc he was very anxious to discover what had led to this affair, and he then learned all about the endless iniquities of that accursed Achmath and his sons. It was proved that he and seven of his sons (for they were not all bad) had forced no end of women to be their wives, besides those whom they had ravished. The Great Kaan then ordered all the treasure that Achmath had accumulated in the Old City to be transferred to his own treasury in the New City, and it was found to be of enormous amount. He also ordered the body of Achmath to be dug up and cast into the streets for the dogs to tear; and commanded those of his sons that had followed the father’s evil example to be flayed alive.{4}
These circumstances called the Kaan’s attention to the accursed doctrines of the Sect of the Saracens, which excuse every crime, yea even murder itself, when committed on such as are not of their religion. And seeing that this doctrine had led the accursed Achmath and his sons to act as they did without any sense of guilt, the Kaan was led to entertain the greatest disgust and abomination for it. So he summoned the Saracens and prohibited their doing many things which their religion enjoined. Thus, he ordered them to regulate their marriages by the Tartar Law, and prohibited their cutting the throats of animals killed for food, ordering them to rip the stomach in the Tartar way.
Now when all this happened Messer Marco was upon the spot.]{5}
Note 1.—This narrative is from Ramusio’s version, and constitutes one of the most notable passages peculiar to that version.
The name of the oppressive Minister is printed in Ramusio’s Collection Achmach. But the c and t are so constantly interchanged in MSS. that I think there can be no question this was a mere clerical error for Achmath, and so I write it. I have also for consistency changed the spelling of Xandu, Chingis, etc., to that hitherto adopted in our text of Chandu, Chinkin, etc.
Note 2.—The remarks of a Chinese historian on Kúblái’s administration may be appropriately quoted here: “Hupilai Han must certainly be regarded as one of the greatest princes that ever existed, and as one of the most successful in all that he undertook. This he owed to his judgment in the selection of his officers, and to his talent for commanding them. He carried his arms into the most remote countries, and rendered his name so formidable that not a few nations spontaneously submitted to his supremacy. Nor was there ever an Empire of such vast extent. He cultivated literature, protected its professors, and even thankfully received their advice. Yet he never placed a Chinese in his cabinet, and he employed foreigners only as Ministers. These, however, he chose with discernment, always excepting the Ministers of Finance. He really loved his subjects; and if they were not always happy under his government, it is because they took care to conceal their sufferings. There were in those days no Public Censors whose duty it is to warn the Sovereign of what is going on: and no one dared to speak out for fear of the resentment of the Ministers, who were the depositaries of the Imperial authority, and the authors of the oppressions under which the people laboured. Several Chinese, men of letters and of great ability, who lived at Hupilai’s court, might have rendered that prince the greatest service in the administration of his dominions, but they never were intrusted with any but subordinate offices, and they were not in a position to make known the malversations of those public blood-suckers.” (De Mailla, IX. 459–460.)
Ahmad was a native of Fenáket (afterwards Sháh-Rúkhia), near the Jaxartes, and obtained employment under Kúblái through the Empress Jamui Khatun, who had known him before her marriage. To her Court he was originally attached, but we find him already employed in high financial office in 1264. Kúblái’s demands for money must have been very large, and he eschewed looking too closely into the character of his financial agents or the means by which they raised money for him. Ahmad was very successful in this, and being a man of great talent and address, obtained immense influence over the Emperor, until at last nothing was done save by his direction, though he always appeared to be acting under the orders of Kúblái. The Chinese authorities in Gaubil and De Mailla speak strongly of his oppressions, but only in general terms, and without affording such particulars as we derive from the text.
The Hereditary Prince Chingkim was strongly adverse to Ahmad; and some of the high Chinese officials on various occasions made remonstrance against the Minister’s proceedings; but Kúblái turned a deaf ear to them, and Ahmad succeeded in ruining most of his opponents. (Gaubil, 141, 143, 151; De Mailla, IX. 316–317; D’Ohsson, II. 468–469.)
[The Rev. W. S. Ament (Marco Polo in Cambaluc, 105) writes: “No name is more execrated than that of Ah-ha-ma (called Achmath by Polo), a Persian, who was chosen to manage the finances of the Empire. He was finally destroyed by a combination against him while the Khan was absent with Crown Prince Chen Chin, on a visit to Shang Tu.” Achmath has his biography under the name of A-ho-ma (Ahmed) in the ch. 205 of the Yuen-shi, under the rubric “Villanous Ministers.” (Bretschneider, Med. Res. I. p. 272.)—H. C.]
Note 3.—This term Bailo was the designation of the representative of Venetian dignity at Constantinople, called Podestà during the period of the Latin rule there, and it has endured throughout the Turkish Empire to our own day in the form Balios as the designation of a Frank Consul. [There was also a Venetian bailo in Syria.—H. C.] But that term itself could scarcely have been in use at Cambaluc, even among the handful of Franks, to designate the powerful Minister, and it looks as if Marco had confounded the word in his own mind with some Oriental term of like sound, possibly the Arabic Wáli, “a Prince, Governor of a Province, ... a chief Magistrate.” (F. Johnson.) In the Roteiro of the Voyage of Vasco da Gama (2nd ed. Lisbon, 1861, pp. 53–54) it is said that on the arrival of the ships at Calicut the King sent “a man who was called the Bale, which is much the same as Alquaide.” And the Editor gives the same explanation that I have suggested.
I observe that according to Pandit Manphul the native governor of Kashgar, under the Chinese Amban, used to be called the Baili Beg. [In this case Baili stands for beilêh.—H. C.] (Panjab Trade Report, App. p. cccxxxvii.)
Note 4.—The story, as related in De Mailla and Gaubil, is as follows. It contains much less detail than the text, and it differs as to the manner of the chief conspirator’s death, whilst agreeing as to his name and the main facts of the episode.
In the spring of 1282 (Gaubil, 1281) Kúblái and Prince Chingkim had gone off as usual to Shangtu, leaving Ahmad in charge at the Capital. The whole country was at heart in revolt against his oppressions. Kúblái alone knew, or would know, nothing of them.
Wangchu, a chief officer of the city, resolved to take the opportunity of delivering the Empire from such a curse, and was joined in his enterprise by a certain sorcerer called Kao Hoshang. They sent two Lamas to the Council Board with a message that the Crown Prince was returning to the Capital to take part in certain Buddhist ceremonies, but no credit was given to this. Wangchu then, pretending to have received orders from the Prince, desired an officer called Chang-y (perhaps the Chenchu of Polo’s narrative) to go in the evening with a guard of honour to receive him. Late at night a message was sent to summon the Ministers, as the Prince (it was pretended) had already arrived. They came in haste with Ahmad at their head, and as he entered the Palace Wangchu struck him heavily with a copper mace and stretched him dead. Wangchu was arrested, or according to one account surrendered, though he might easily have escaped, confident that the Crown Prince would save his life. Intelligence was sent off to Kúblái, who received it at Chaghan-Nor. (See Book I. ch. lx.) He immediately despatched officers to arrest the guilty and bring them to justice. Wangchu, Chang-y, and Kao Hoshang were publicly executed at the Old City; Wangchu dying like a hero, and maintaining that he had done the Empire an important service which would yet be acknowledged. (De Mailla, IX. 412–413; Gaubil, 193–194; D’Ohsson, II. 470.) [Cf. G. Phillips, in T’oung-Pao, I. p. 220.—H. C.]
Note 5.—And it is a pleasant fact that Messer Marco’s presence, and his upright conduct upon this occasion, have not been forgotten in the Chinese Annals: “The Emperor having returned from Chaghan-Nor to Shangtu, desired Polo, Assessor of the Privy Council, to explain the reasons which had led Wangchu to commit this murder. Polo spoke with boldness of the crimes and oppressions of Ahama (Ahmad), which had rendered him an object of detestation throughout the Empire. The Emperor’s eyes were opened, and he praised the courage of Wangchu. He complained that those who surrounded him, in abstaining from admonishing him of what was going on, had thought more of their fear of displeasing the Minister than of the interests of the State.” By Kúblái’s order, the body of Ahmad was taken up, his head was cut off and publicly exposed, and his body cast to the dogs. His son also was put to death with all his family, and his immense wealth confiscated. 714 persons were punished, one way or other, for their share in Ahmad’s malversations. (De Mailla, IX. 413–414.)
What is said near the end of this chapter about the Kaan’s resentment against the Saracens has some confirmation in circumstances related by Rashiduddin. The refusal of some Mussulman merchants, on a certain occasion at Court, to eat of the dishes sent them by the Emperor, gave great offence, and led to the revival of an order of Chinghiz, which prohibited, under pain of death, the slaughter of animals by cutting their throats. This endured for seven years, and was then removed on the strong representation made to Kúblái of the loss caused by the cessation of the visits of the Mahomedan merchants. On a previous occasion also the Mahomedans had incurred disfavour, owing to the ill-will of certain Christians, who quoted to Kúblái a text of the Koran enjoining the killing of polytheists. The Emperor sent for the Mullahs, and asked them why they did not act on the Divine injunction? All they could say was that the time was not yet come! Kúblái ordered them for execution, and was only appeased by the intercession of Ahmad, and the introduction of a divine with more tact, who smoothed over obnoxious applications of the text. (D’Ohsson, II. 492–493.)
Now that I have told you in detail of the splendour of this City of the Emperor’s, I shall proceed to tell you of the Mint which he hath in the same city, in the which he hath his money coined and struck, as I shall relate to you. And in doing so I shall make manifest to you how it is that the Great Lord may well be able to accomplish even much more than I have told you, or am going to tell you, in this Book. For, tell it how I might, you never would be satisfied that I was keeping within truth and reason!
The Emperor’s Mint then is in this same City of Cambaluc, and the way it is wrought is such that you might say he hath the Secret of Alchemy in perfection, and you would be right! For he makes his money after this fashion.
He makes them take of the bark of a certain tree, in fact of the Mulberry Tree, the leaves of which are the food of the silkworms,—these trees being so numerous that whole districts are full of them. What they take is a certain fine white bast or skin which lies between the wood of the tree and the thick outer bark, and this they make into something resembling sheets of paper, but black. When these sheets have been prepared they are cut up into pieces of different sizes. The smallest of these sizes is worth a half tornesel; the next, a little larger, one tornesel; one, a little larger still, is worth half a silver groat of Venice; another a whole groat; others yet two groats, five groats, and ten groats. There is also a kind worth one Bezant of gold, and others of three Bezants, and so up to ten. All these pieces of paper are [issued with as much solemnity and authority as if they were of pure gold or silver; and on every piece a variety of officials, whose duty it is, have to write their names, and to put their seals. And when all is prepared duly, the chief officer deputed by the Kaan smears the Seal entrusted to him with vermilion, and impresses it on the paper, so that the form of the Seal remains printed upon it in red; the Money is then authentic. Any one forging it would be punished with death.] And the Kaan causes every year to be made such a vast quantity of this money, which costs him nothing, that it must equal in amount all the treasure in the world.
With these pieces of paper, made as I have described, he causes all payments on his own account to be made; and he makes them to pass current universally over all his kingdoms and provinces and territories, and whithersoever his power and sovereignty extends. And nobody, however important he may think himself, dares to refuse them on pain of death. And indeed everybody takes them readily, for wheresoever a person may go throughout the Great Kaan’s dominions he shall find these pieces of paper current, and shall be able to transact all sales and purchases of goods by means of them just as well as if they were coins of pure gold. And all the while they are so light that ten bezants’ worth does not weigh one golden bezant.
Furthermore all merchants arriving from India or other countries, and bringing with them gold or silver or gems and pearls, are prohibited from selling to any one but the Emperor. He has twelve experts chosen for this business, men of shrewdness and experience in such affairs; these appraise the articles, and the Emperor then pays a liberal price for them in those pieces of paper. The merchants accept his price readily, for in the first place they would not get so good an one from anybody else, and secondly they are paid without any delay. And with this paper-money they can buy what they like anywhere over the Empire, whilst it is also vastly lighter to carry about on their journeys. And it is a truth that the merchants will several times in the year bring wares to the amount of 400,000 bezants, and the Grand Sire pays for all in that paper. So he buys such a quantity of those precious things every year that his treasure is endless, whilst all the time the money he pays away costs him nothing at all. Moreover, several times in the year proclamation is made through the city that any one who may have gold or silver or gems or pearls, by taking them to the Mint shall get a handsome price for them. And the owners are glad to do this, because they would find no other purchaser give so large a price. Thus the quantity they bring in is marvellous, though these who do not choose to do so may let it alone. Still, in this way, nearly all the valuables in the country come into the Kaan’s possession.
When any of those pieces of paper are spoilt—not that they are so very flimsy neither—the owner carries them to the Mint, and by paying three per cent. on the value he gets new pieces in exchange. And if any Baron, or any one else soever, hath need of gold or silver or gems or pearls, in order to make plate, or girdles, or the like, he goes to the Mint and buys as much as he list, paying in this paper-money.{1}
Now you have heard the ways and means whereby the Great Kaan may have, and in fact has, more treasure than all the Kings in the World; and you know all about it and the reason why. And now I will tell you of the great Dignitaries which act in this city on behalf of the Emperor.
Note 1.—It is surprising to find that, nearly two centuries ago, Magaillans, a missionary who had lived many years in China, and was presumably a Chinese scholar, should have utterly denied the truth of Polo’s statements about the paper-currency of China. Yet the fact even then did not rest on Polo’s statement only. The same thing had been alleged in the printed works of Rubruquis, Roger Bacon, Hayton, Friar Odoric, the Archbishop of Soltania, and Josaphat Barbaro, to say nothing of other European authorities that remained in manuscript, or of the numerous Oriental records of the same circumstance.
The issue of paper-money in China is at least as old as the beginning of the 9th century. In 1160 the system had gone to such excess that government paper equivalent in nominal value to 43,600,000 ounces of silver had been issued in six years, and there were local notes besides; so that the Empire was flooded with rapidly depreciating paper.
The Kin or “Golden” Dynasty of Northern Invaders who immediately preceded the Mongols took to paper, in spite of their title, as kindly as the native sovereigns. Their notes had a course of seven years, after which new notes were issued to the holders, with a deduction of 15 per cent.
The Mongols commenced their issues of paper-money in 1236, long before they had transferred the seat of their government to China. Kúblái made such an issue in the first year of his reign (1260), and continued to issue notes copiously till the end. In 1287 he put out a complete new currency, one note of which was to exchange against five of the previous series of equal nominal value! In both issues the paper-money was, in official valuation, only equivalent to half its nominal value in silver; a circumstance not very easy to understand. The paper-money was called Chao.
The notes of Kúblái’s first issue (1260–1287) with which Polo may be supposed most familiar, were divided into three classes; (1) Notes of Tens, viz. of 10, 20, 30, and 50 tsien or cash; (2) Notes of Hundreds, viz. of 100, 200, and 500 tsien; and (3) Notes of Strings or Thousands of cash, or in other words of Liangs or ounces of silver (otherwise Tael), viz. of 1000 and 2000 tsien. There were also notes printed on silk for 1, 2, 3, 5, and 10 ounces each, valued at par in silver, but these would not circulate. In 1275, it should be mentioned, there had been a supplementary issue of small notes for 2, 3, and 5 cash each.
Marsden states an equation between Marco’s values of the Notes and the actual Chinese currency, to which Biot seems to assent. I doubt its correctness, for his assumed values of the groat or grosso and tornesel are surely wrong. The grosso ran at that time 18 to the gold ducat or sequin, and allowing for the then higher relative value of silver, should have contained about 5d. of silver. The ducat was also equivalent to 2 lire, and the tornese (Romanin, III. 343) was 4 deniers. Now the denier is always, I believe ¹⁄₂₄₀ of the líra. Hence the tornese would be ⁹⁄₆₀ of the grosso.
But we are not to look for exact correspondences, when we see Polo applying round figures in European coinage to Chinese currency.
Bank-Note of the Ming Dynasty.His bezant notes, I agree with Marsden, here represent the Chinese notes for one and more ounces of silver. And here the correspondence of value is much nearer than it seems at first sight. The Chinese liang or ounce of silver is valued commonly at 6s. 7d., say roundly 80d.[1] But the relation of gold and silver in civilized Asia was then (see ch. I. note 4, and also Cathay, pp. ccl. and 442) as 10 to 1, not, as with us now, more than 15 to 1. Wherefore the liang in relation to gold would be worth 120d. or 10s., a little over the Venetian ducat and somewhat less than the bezant or dínár. We shall then find the table of Chinese issues, as compared with Marco’s equivalents, to stand thus:—
For 10 ounces of silver (viz. the Chinese Ting)[2] For 1 ounce of silver, i.e. 1 liang, or 1000 tsien (cash) For 500 tsien 200 „ (should have been 4). 100 „ 50 „ 30 „ (but the proportionate equivalent of half a groat would be 25 tsien). 20 „ 10 „ (but the proportionate equivalent would be 7½ tsien). 5 „ (but prop. equivalent 3¾ tsien). Pauthier has given from the Chinese Annals of the Mongol Dynasty a complete Table of the Issues of Paper-Money during every year of Kúblái’s reign (1260–1294), estimated at their nominal value in Ting or tens of silver ounces. The lowest issue was in 1269, of 228,960 ounces, which at the rate of 120d. to the ounce (see above) = 114,480l., and the highest was in 1290, viz. 50,002,500 ounces, equivalent at the same estimate to 25,001,250l.! whilst the total amount in the 34 years was 249,654,290 ounces or 124,827,144l. in nominal value. Well might Marco speak of the vast quantity of such notes that the Great Kaan issued annually!
To complete the history of the Chinese paper-currency so far as we can:
In 1309, a new issue took place with the same provision as in Kúblái’s issue of 1287, i.e. each note of the new issue was to exchange against 5 of the old of the same nominal value. And it was at the same time prescribed that the notes should exchange at par with metals, which of course it was beyond the power of Government to enforce, and so the notes were abandoned. Issues continued from time to time to the end of the Mongol Dynasty. The paper-currency is spoken of by Odoric (1320–30), by Pegolotti (1330–40), and by Ibn Batuta (1348), as still the chief, if not sole, currency of the Empire. According to the Chinese authorities, the credit of these issues was constantly diminishing, as it is easy to suppose. But it is odd that all the Western Travellers speak as if the notes were as good as gold. Pegolotti, writing for mercantile men, and from the information (as we may suppose) of mercantile men, says explicitly that there was no depreciation.
The Ming Dynasty for a time carried on the system of paper-money; with the difference that while under the Mongols no other currency had been admitted, their successors made payments in notes, but accepted only hard cash from their people![3] In 1448 the chao of 1000 cash was worth but 3. Barbaro still heard talk of the Chinese paper-currency from travellers whom he met at Azov about this time; but after 1455 there is said to be no more mention of it in Chinese history.
I have never heard of the preservation of any note of the Mongols; but some of the Ming survive, and are highly valued as curiosities in China. The late Sir G. T. Staunton appears to have possessed one; Dr. Lockhart formerly had two, of which he gave one to Sir Harry Parkes, and retains the other. The paper is so dark as to explain Marco’s description of it as black. By Dr. Lockhart’s kindness I am enabled to give a reduced representation of this note, as near a facsimile as we have been able to render it, but with some restoration, e.g. of the seals, of which on the original there is the barest indication remaining.
[Mr. Vissering (Chinese Currency, Addenda, I.–III.) gives a facsimile and a description of a Chinese banknote of the Ming Dynasty belonging to the collection of the Asiatic Museum of the Academy of Sciences at St. Petersburg. “In the eighth year of the period Hung-wu (1375), the Emperor Tai-tsu issued an order to his minister of finances to make the Pao-tsao (precious bills) of the Ta-Ming Dynasty, and to employ as raw material for the composition of those bills the fibres of the mulberry tree.”—H. C.]
Notwithstanding the disuse of Government issues of paper-money from that time till recent years, there had long been in some of the cities of China a large use of private and local promissory notes as currency. In Fuchau this was especially the case; bullion was almost entirely displaced, and the banking-houses in that city were counted by hundreds. These were under no government control; any individual or company having sufficient capital or credit could establish a bank and issue their bills, which varied in amount from 100 cash to 1000 dollars. Some fifteen years ago the Imperial Government seems to have been induced by the exhausted state of the Treasury, and these large examples of the local use of paper-currency, to consider projects for resuming that system after the disuse of four centuries. A curious report by a Committee of the Imperial Supreme Council, on a project for such a currency, appears among the papers published by the Russian Mission at Peking. It is unfavourable to the particular project, but we gather from other sources that the Government not long afterwards did open banks in the large cities of the Empire for the issue of a new paper-currency, but that it met with bad success. At Fuchau, in 1858, I learn from one notice, the dollar was worth from 18,000 to 20,000 cash in Government Bills. Dr. Rennie, in 1861, speaks of the dollar at Peking as valued at 15,000, and later at 25,000 paper cash. Sushun, the Regent, had issued a vast number of notes through banks of his own in various parts of Peking. These he failed to redeem, causing the failure of all the banks, and great consequent commotion in the city. The Regent had led the Emperor [Hien Fung] systematically into debauched habits which ended in paralysis. On the Emperor’s death the Empress caused the arrest and execution of Sushun. His conduct in connection with the bank failures was so bitterly resented that when the poor wretch was led to execution (8th November, 1861), as I learn from an eye-witness, the defrauded creditors lined the streets and cheered.[4]
The Japanese also had a paper-currency in the 14th century. It is different in form from that of China. That figured by Siebold is a strip of strong paper doubled, 6¼ in. long by 1¾ in. wide, bearing a representation of the tutelary god of riches, with long inscriptions in Chinese characters, seals in black and red, and an indication of value in ancient Japanese characters. I do not learn whether notes of considerable amount are still used in Japan; but Sir R. Alcock speaks of banknotes for small change from 30 to 500 cash and more, as in general use in the interior.
Two notable and disastrous attempts to imitate the Chinese system of currency took place in the Middle Ages; one of them in Persia, apparently in Polo’s very presence, the other in India some 36 years later.
The first was initiated in 1294 by the worthless Kaikhatu Khan, when his own and his ministers’ extravagance had emptied the Treasury, on the suggestion of a financial officer called ’Izzuddín Muzaffar. The notes were direct copies of Kúblái’s, even the Chinese characters being imitated as part of the device upon them.[5] The Chinese name Chao was applied to them, and the Mongol Resident at Tabriz, Pulad Chingsang, was consulted in carrying out the measure. Expensive preparations were made for this object; offices called Cháo-Khánahs were erected in the principal cities of the provinces, and a numerous staff appointed to carry out the details. Ghazan Khan in Khorasan, however, would have none of it, and refused to allow any of these preparations to be made within his government. After the constrained use of the Chao for two or three days Tabriz was in an uproar; the markets were closed; the people rose and murdered ’Izzuddín; and the whole project had to be abandoned. Marco was in Persia at this time, or just before, and Sir John Malcolm not unnaturally suggests that he might have had something to do with the scheme; a suggestion which excites a needless commotion in the breast of M. Pauthier. We may draw from the story the somewhat notable conclusion that Block-printing was practised, at least for this one purpose, at Tabriz in 1294.
The other like enterprise was that of Sultan Mahomed Tughlak of Delhi, in 1330–31. This also was undertaken for like reasons, and was in professed imitation of the Chao of Cathay. Mahomed, however, used copper tokens instead of paper; the copper being made apparently of equal weight to the gold or silver coin which it represented. The system seems to have had a little more vogue than at Tabriz, but was speedily brought to an end by the ease with which forgeries on an enormous scale were practised. The Sultan, in hopes of reviving the credit of his currency, ordered that every one bringing copper tokens to the Treasury should have them cashed in gold or silver. “The people who in despair had flung aside their copper coins like stones and bricks in their houses, all rushed to the Treasury and exchanged them for gold and silver. In this way the Treasury soon became empty, but the copper coins had as little circulation as ever, and a very grievous blow was given to the State.”
An odd issue of currency, not of paper, but of leather, took place in Italy a few years before Polo’s birth. The Emperor Frederic II., at the siege of Faenza in 1241, being in great straits for money, issued pieces of leather stamped with the mark of his mint at the value of his Golden Augustals. This leather coinage was very popular, especially at Florence, and it was afterwards honourably redeemed by Frederic’s Treasury. Popular tradition in Sicily reproaches William the Bad among his other sins with having issued money of leather, but any stone is good enough to cast at a dog with such a surname.
[Ma Twan-lin mentions that in the fourth year of the period Yuen Show (B.C. 119), a currency of white metal and deer-skin was made. Mr. Vissering (Chinese Currency, 38) observes that the skin-tallies “were purely tokens, and have had nothing in common with the leather-money, which was, during a long time, current in Russia. This Russian skin-money had a truly representative character, as the parcels were used instead of the skins from which they were cut; the skins themselves being too bulky and heavy to be constantly carried backward and forward, only a little piece was cut off, to figure as a token of possession of the whole skin. The ownership of the skin was proved when the piece fitted in the hole.”
Mr. Rockhill (Rubruck, 201 note) says: “As early as B.C. 118, we find the Chinese using ‘leather-money’ (p’i pi). These were pieces of white deer-skin, a foot square, with a coloured border. Each had a value of 40,000 cash. (Ma Twan-lin, Bk. 8, 5.)”
Mr. Charles F. Keary (Coins and Medals, by S. Lane Poole, 128) mentions that “in the reign of Elizabeth there was a very extensive issue of private tokens in lead, tin, latten, and leather.”—H. C.]
(Klapr. in Mém. Rel. à l’Asie, I. 375 seqq.; Biot, in J. As. sér. III. tom. iv.; Marsden and Pauthier, in loco; Parkes, in J. R. A. S. XIII. 179; Doolittle, 452 seqq.; Wylie, J. of Shanghai Lit. and Scient. Soc. No. I.; Arbeiten der kais. russ. Gesandsch. zu Peking, I. p. 48; Rennie, Peking, etc., I. 296, 347; Birch, in. Num. Chron. XII. 169; Information from Dr. Lockhart; Alcock, II. 86; D’Ohsson, IV. 53; Cowell, in J. A. S. B. XXIX. 183 seqq.; Thomas, Coins of Patan Sovs. of Hind., (from Numism. Chron. 1852), p. 139 seqq.; Kington’s Fred. II. II. 195; Amari, III. 816; W. Vissering, On Chinese Currency, Leiden, 1877.)
[“Without doubt the Mongols borrowed the bank-note system from the Kin. Up to the present time there is in Si-ngan-fu a block kept, which was used for printing the bank-notes of the Kin Dynasty. I have had the opportunity of seeing a print of those bank-notes, they were of the same size and shape as the bank-notes of the Ming. A reproduction of the text of the Kin bank-notes is found in the Kin shi ts’ui pien. This copy has the characters pao küan (precious charter) and the years of reign Chêng Yew, 1213–1216. The first essay of the Mongols to introduce bank-notes dates from the time of Ogodai Khan (1229–1242), but Chinese history only mentions the fact without giving details. At that time silk in skeins was the only article of a determinate value in the trade and on the project of Ye lü ch’u ts’ai, minister of Ogodai, the taxes were also collected in silk delivered by weight. It can therefore be assumed that the name sze ch’ao (i.e. bank-notes referring to the weight of silk) dates back to the same time. At any rate, at a later time, as, under the reign of Kubilai, the issuing of banknotes was decreed, silk was taken as the standard to express the value of silver and 1000 liang silk was estimated = 50 liang (or 1 ting) silver. Thus, in consequence of those measures, it gradually became a rule to transfer the taxes and rents originally paid in silk, into silver. The wealth of the Mongol Khans in precious metals was renowned. The accounts regarding their revenues, however, which we meet with occasionally in Chinese history, do not surprise by their vastness. In the year 1298, for instance, the amount of the revenue is stated in the Siu t’ung Kien to have been:—
19,000 liang of gold = (190,000 liang of silver, according to the exchange of that time at the rate of 1 to 10).
60,000 liang of silver.
3,600,000 ting of silver in bank-notes (i.e. 180 millions liang); altogether 180,250,000 liang of silver.
The number seems indeed very high for that time. But if the exceedingly low exchange of the bank-notes be taken into consideration, the sum will be reduced to a modest amount.” (Palladius, pp. 50–51.)—H. C.]
[Dr. Bretschneider (Hist. Bot. Disc., I. p. 4) makes the following remark:—“Polo states (I. 409) that the Great Kaan causeth the bark of great Mulberry-trees, made into something like paper, to pass for money.” He seems to be mistaken. Paper in China is not made from mulberry-trees but from the Broussonetia papyrifera, which latter tree belongs to the same order of Moraceae. The same fibres are used also in some parts of China for making cloth, and Marco Polo alludes probably to the same tree when stating (II. 108) “that in the province of Cuiju (Kwei chau) they manufacture stuff of the bark of certain trees, which form very fine summer clothing.”—H. C.]