The practice grew erratically in the coming years, but by the time of Mongke Khan’s reign, it became necessary to limit the paper money supply in ways that it was not necessary to do with gold and silver coins. Mongke recognized the dangers incurred by earlier administrations that issued paper money and debt on an ad hoc basis, and in 1253 he created a Department of Monetary Affairs to control and standardize the issuance of paper money.
