WHI-Chap15-flying money
From SJS Wiki
Flying money is the name given to the letters of credit used during Tang and Song China. These letters of credit allowed merchants to deposit a certain amount of cash or goods one place and then withdraw the equivalent in cash or merchandise somewhere in China. The letters of credit were one of the many methods tried by the Chinese government to replace the copper coins, which were beginning becoming difficult to produce. This method ultimately failed because the merchants would be unable to pay the amount on the letters.
An example of a letter of credit
Traditions & Encounters page 389
For other business practices from the Song and Tang dynasties, Objective 5
