when did the world first begin using currency
By the 15th century even China had more or less given up paper money. Over this period, paper notes were issued irresponsibly, to the point that their value rapidly depreciated and inflation soared. Then beginning in 1455, the use of paper money in China disappeared for several hundred years.This was still many years before paper currency would reappear in Europe, and three centuries before it was considered common.ron banks sprang up to facilitate the trade, and the government was quick to take over the profitable enterprise. Amazingly, the Chinese only used paper money on any meaningful scale for about 300 years of a 400 year period between 1050 and 1450, overlapping the Song, Yuan (Mongol), and Ming dynasties.