What was the Chinese credit instrument that provided vouchers to merchants to be redeemed at the end of a venture, reducing the danger of robbery?

• A. Copper cash
• B. Flying money
• C. Paper money
• D. Gold notes

Answer: (B)

Think about moving value without hauling heavy coins. In Tang and Song China, merchants used flying money—promissory vouchers issued by moneychangers or officials. A merchant could deposit funds in one city and receive a voucher that could be redeemed for copper cash in another city after the venture ended. This system kept actual coins safe and cut the risk of robbery on long journeys. While paper money later expanded, the situation described—vouchers that are redeemed later to transfer value—fits flying money best. Copper cash is just the physical coins, which are exactly what the voucher system aimed to avoid carrying; gold notes aren’t the term typically used for this practice.