Chinese wén

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The wen (English: cash, Chinese: 文) was a currency denomination used in China between 621 and 1948. It was the chief denomination until the introduction of the yuan in the late 19th century.

Contents 1 English terminology 2 History 3 Coins 4 Paper money 5 External influence 6 See also 7 References 8 External links

[edit] English terminology

The English term "cash", referring to the Chinese coins, was derived from the Tamil kāsu, a South Indian monetary unit. The English word "cash", meaning "tangible currency", is an older word from Middle French caisse.^[1].

[edit] History

The wen was introduced as a denomination used on cast coins in 621. It became one of the chief units of currency and was used to denominate both coins and paper money. Other denominations were used, including various weights, based on the liang system, for sycee silver and gold ingots.

Until the 19th century, coins denominated in wen were cast, the most common formation being the round-shaped copper coin with a square or circular hole in the centre. The hole enabled the coins to be strung together to create higher denominations, as was frequently done due to the coin's low value. The number of coins in a string (yīguànqián 一貫錢) varied over time and place but was usually 1000. A string of 1000 wen was supposed to be equal in value to one liǎng (tael) of pure silver.^[2] Paper money sometimes showed pictures of the appropriate number of 1 wen coins strung together.

In the 19th century, foreign coins began to circulate widely in China, particularly silver coins such as the Mexican peso. In 1889, Chinese currency began to be denominated in the yuan and its subdivisions. The wen was retained in this system as ¹⁄₁₀₀₀ yuan. Traditional style, cast 1 wen coins continued to be produced until the end of the Chinese Empire in 1911. The last coins denominated in wen were struck in the early years of the Republic of China in 1924.

[edit] Coins

Numerous authorities issued wen coins in the nineteenth century, including departments of the Imperial government (The Board of Revenue and Board of Public Works) together with provincial authorities. Most coins were 1 wen denominations, but denominations of 5, 10, 50, 100, 200, 500 and 1000 wen were also issued. After the introduction of the yuan, coins were struck in denominations of 1, 2, 5, 10 and 20 wen.

[edit] Paper money

The world's first paper money, issued in China between the 7th and 15th centuries, was denominated in wen. The notes carried depictions of coins, sometimes in strings of ten. The notes of the Yuan dynasty suffered from hyperinflation due to over production without sufficient coins to back them and were withdrawn. Paper money reappeared in the 19th century. In 1853, notes were introduced in denominations of 500, 1000 and 2000 wen. 5000 wen notes followed in 1856, with 10,000, 50,000 and 100,000 wen notes added in 1857. The last of these notes were issued in 1859.

[edit] External influence

Early Korean and Japanese currencies, the Korean mun and Japanese mon, were derived from the Chinese wen. In 1695, the Shogunate placed the Japanese character gen (元) on the obverse of copper coins.^[3]

[edit] See also

• Japanese mon
• Korean mun
• Vietnamese cash

[edit] References

[edit] External links

• Don's World Coin Gallery - China
• Ron Wise's World Paper Money - China ^{Mirror site}
• Tables of Modern Monetary Systems by Kurt Schuler - China ^{Mirror site}
• The Global History of Currencies - China
• Global Financial Data currency histories table ( Microsoft Excel format)
• Chinese Coinage Website

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