To renew the war campaigns, Mongke needed to stabilize the economy, control government spending, and confront the massive debts accumulated by Guyuk and other administrators over the prior decade. In his short and disastrous reign, Guyuk had purchased vast amounts of goods and paid for them with paper drafts on the promise that the paper could be converted into gold or silver by the merchant when needed. With Guyuk dead, many local officials and advisers no longer wanted to pay off these bills issued by the late khan. Mongke, however, astutely recognized that if he did not meet the financial
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