In economics , cash is money in the physical form of currency , such as banknotes and coins .
151-458: In bookkeeping and financial accounting , cash is current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately (as in the case of money market accounts ). Cash is seen either as a reserve for payments, in case of a structural or incidental negative cash flow or as a way to avoid a downturn on financial markets. The English word cash originally meant ' money box ' , and later came to have
302-675: A Chancellor of the Tang dynasty . With this victory, the Turks accepted Taizong as their khagan , a title rendered as Tian Kehan in addition to his rule as emperor of China under the traditional title " Son of Heaven ". Taizong was succeeded by his son Li Zhi (as Emperor Gaozong ) in 649. The Tang engaged in military campaigns against the Western Turks , exploiting the rivalry between Western and Eastern Turks in order to weaken both. Under Emperor Taizong , campaigns were dispatched in
453-725: A differential gear was reproduced in several models for Tenji in 666, as recorded in the Nihon Shoki (720). Japanese monks also visited China; such was the case with Ennin (794–864), who wrote of his travel experiences including travels along the Grand Canal . The Japanese monk Enchin (814–891) stayed in China from 839 to 847, and again from 853 to 858, landing near Fuzhou , Fujian and setting sail for Japan from Taizhou, Zhejiang during his second trip to China. The Sui and Tang carried out successful military campaigns against
604-681: A "restored" Tang dynasty, the Later Tang , before toppling the Later Liang dynasty the same year. However, southern China remained splintered into various small kingdoms until most of China was reunified under the Song dynasty (960–1279). Control over parts of northeast China and Manchuria by the Liao dynasty of the Khitan people also stemmed from this period. In 905, their leader Abaoji formed
755-607: A Buddhist memorial service for the casualties of war; in 629, he had Buddhist monasteries erected at the sites of major battles so that monks could pray for the fallen on both sides of the fight. During the Tang campaign against the Eastern Turks , the Eastern Turkic Khaganate was destroyed after the capture of its ruler, Illig Qaghan by the famed Tang military officer Li Jing (571–649), who later became
906-484: A balanced accounting equation. A ledger is a record of accounts . The ledger is a permanent summary of all amounts entered in supporting Journals which list individual transactions by date. These accounts are recorded separately, showing their beginning/ending balance . A journal lists financial transactions in chronological order, without showing their balance but showing how much is going to be entered in each account. A ledger takes each financial transaction from
1057-418: A broad variety of texts. The jinshi tested a student's literary abilities in writing essays in response to questions on governance and politics, as well as in composing poetry . Candidates were also judged on proper deportment, appearance, speech, and calligraphy , all subjective criteria that favoured the wealthy over those of more modest means who were unable to pay tutors of rhetoric and writing.Although
1208-597: A cash payment in retail costs an average of 24 euro cents, while payments with a girocard cost 30 cents (or often 0.3 to 0.4% of sales plus a transaction fee) and with a credit card charge one euro which is included in the sales price. This is why retailers often refuse to accept card payments below a minimum amount. Depending on the account model, there are also booking costs for the account holder with an average of 35 euro cents charged for each(!) account posting. Because of this convenient source of income, commercial banks and credit card companies favor cashless payments. In
1359-574: A combination of such motives, with the precautionary motive of preserving value and anonymous payment being decisive. Due to its unique characteristics, there is no perfect substitute for cash. Demonetisation or capital control can destabilize the economy if electronic means of payment are not readily available (e.g. 2016 Indian banknote demonetisation ). Cash in circulation is characterized by strong seasonal fluctuations. Wage and salary payment dates, tax payment dates or holidays lead to statistically perceptible increases in cash in circulation, for which
1510-479: A disproportionate number of civil officials came from aristocratic families, wealth and noble status were not prerequisites, and the exams were open to all male subjects whose fathers were not of the artisan or merchant classes . To promote widespread Confucian education, the Tang government established state-run schools and issued standard versions of the Five Classics with commentaries. Open competition
1661-494: A fairly complicated decision and is analyzing the pros and cons and working to determine under which conditions it may make sense to, one day, issue a digital currency. As a threat, a central bank digital currency could increase the risk of a run on the banking system. Also in 2012, Sveriges Riksbank , the central bank of Sweden, was reported to analyze technological advances with regard to electronic money and payment methods for digital currency as an alternative to cash. In 2019, it
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#17327662233861812-551: A golden age of economic prosperity and pleasant lifestyles within the imperial court. Xuanzong was seen as a progressive and benevolent ruler, having abolished the death penalty in 747. Previously, all executions had to be approved by the emperor; in 730, there were only 24 executions. Xuanzong bowed to the consensus of his ministers on policy decisions and made efforts to staff government ministries fairly with different political factions. His staunch Confucian chancellor Zhang Jiuling (673–740) worked to reduce deflation and increase
1963-402: A high level of technical effort and generates immense amounts of data. It would combine the disadvantages of payment methods, the somewhat cumbersome nature of cash from the offline world and the lack of anonymity of electronic money from the online world. In addition, in most countries, personal tracking of payment transactions is not permitted for the reasons of information privacy . There are
2114-485: A large-scale power blackout or shutdown of the communication network. Therefore, central banks and governments are increasingly driving the sufficient availability of cash. The US Federal Reserve has provided guidelines for the continuity of cash services, and the Swedish government is concerned about the consequences in abandoning cash and is considering to pass a law requiring all banks to handle cash. Digital currency
2265-454: A major state". Even after the power of the central government was in decline after the mid-8th century, it was still able to function and give out imperial orders on a massive scale. The Old Book of Tang (945) recorded that a government decree issued in 828 standardised the use of square-pallet chain pumps for irrigation throughout the country. The last ambitious ruler of the Tang was Emperor Xianzong ( r. 805–820 ), whose reign
2416-755: A military alliance with Li Keyong against Zhu Wen but the Khitans eventually turned against the Later Tang, helping another Shatuo leader Shi Jingtang of Later Jin to overthrow Later Tang in 936. Taizong set out to solve internal problems within the government which had constantly plagued past dynasties. Building upon the Sui legal code, he issued a new legal code that subsequent Chinese dynasties would model theirs upon, as well as neighbouring polities in Vietnam , Korea , and Japan . The earliest law code to survive
2567-469: A monopoly of this trade to the Buddhist clergy. The Tang government attempted to create an accurate census of the empire's population, mostly for effective taxation and military conscription. The early Tang government established modest grain and cloth taxes on each household, persuading households to register and provide the government with accurate demographic information. In the official census of 609,
2718-447: A part of history from the very beginning of human existence. Barter and other methods of exchange were used to conduct a wide variety of trade transactions during this time period. Since the 1980s, the use of banknotes has increasingly been displaced by credit and debit cards, electronic money transfers and mobile payments , but much slower than expected. The cashless society has been predicted for more than forty years, but cash remains
2869-480: A rebellion by Huang Chao (874–884) devastated both northern and southern China, took an entire decade to suppress, resulted in the sacking of both Chang'an and Luoyang. In 878–879, Huang's army committed a massacre in the southern port of Guangzhou against foreign Arab and Persian Muslim, Zoroastrian, Jewish and Christian merchants. A medieval Chinese source claimed that Huang Chao killed 8 million people. The Tang never recovered from Huang's rebellion, which paved
3020-514: A school to prepare candidates for Taoist examinations. In 726, he called upon the Indian monk Vajrabodhi (671–741) to perform tantric rites to avert a drought. In 742, he personally held the incense burner while patriarch of the Shingon school Amoghavajra (705–774) recited "mystical incantations to secure the victory of Tang forces". Emperor Xuanzong closely regulated religious finances. Near
3171-548: A screen. When Empress Wu's eldest son, the crown prince, began to assert his authority and advocate policies opposed by Empress Wu, he suddenly died in 675. Many suspected he was poisoned by Empress Wu. Although the next heir apparent kept a lower profile, Wu accused him of plotting a rebellion in 680; he was banished and later obliged to commit suicide. In 683, Emperor Gaozong died and was succeeded by Emperor Zhongzong , his eldest surviving son by Wu. Zhongzong tried to appoint his wife's father as chancellor: after only six weeks on
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#17327662233863322-686: A secondary meaning ' money ' . This secondary usage became the sole meaning in the 18th century. The word cash comes from the Middle French caisse ' money box ' , which comes from the Old Italian cassa , and ultimately from the Latin capsa ' box ' . In Western Europe, after the fall of the Western Roman Empire , coins, silver jewelry and hacksilver (silver objects hacked into pieces) were for centuries
3473-424: A small scale in Sui and Tang times, played a central role in the fashioning of this new elite. The early Song emperors, concerned above all to avoid domination of the government by military men, greatly expanded the civil service examination system and the government school system. From the outset, religion played a role in Tang politics. In his bid for power, Li Yuan had attracted a following by claiming descent from
3624-476: A very small part of the money supply. Its remaining role is to provide a form of currency storage and payment for those who do not wish to take part in other systems, and make small payments conveniently and promptly, though this latter role is being replaced more and more frequently by electronic payment systems . Research has found that the demand for cash decreases as debit card usage increases because merchants need to make less change for customer purchases. Cash
3775-417: Is a generic term for various approaches to support secure transactions of the public or using a distributed ledger , like blockchain , as a new technology for decentralized asset management. The blockchain 1.0 era has enabled the application of virtual digital currencies in the marketplace, such as money transfer and payment systems. It considers establishing an electronic version of the national currency which
3926-400: Is a record of small-value purchases before they are later transferred to the ledger and final accounts; it is maintained by a petty or junior cashier. This type of cash book usually uses the imprest system : a certain amount of money is provided to the petty cashier by the senior cashier. This money is to cater for minor expenditures (hospitality, minor stationery, casual postage, and so on) and
4077-464: Is a set of rules for recording financial information in a financial accounting system in which every transaction or event changes at least two different ledger accounts. A daybook is a descriptive and chronological (diary-like) record of day-to-day financial transactions ; it is also called a book of original entry . The daybook's details must be transcribed formally into journals to enable posting to ledgers. Daybooks include: A petty cash book
4228-429: Is a three-column list. Column One contains the names of those accounts in the ledger which have a non-zero balance. If an account has a debit balance, the balance amount is copied into Column Two (the debit column ); if an account has a credit balance, the amount is copied into Column Three (the credit column ). The debit column is then totalled, and then the credit column is totalled. The two totals must agree—which
4379-481: Is adjusted by an equal and opposite amount. Other adjustments such as posting depreciation and prepayments are also done at this time. This results in a listing called the adjusted trial balance . It is the accounts in this list, and their corresponding debit or credit balances, that are used to prepare the financial statements. Finally financial statements are drawn from the trial balance, which may include: The primary bookkeeping record in single-entry bookkeeping
4530-530: Is also observed in many other currency areas, e.g. in the United States and Japan . Theoretically, it is possible to track cash usage by capturing the unique serial numbers on the banknotes during transactions. To do this, the serial numbers would have to be recorded personally for all withdrawals from automated teller machines (ATM) and for each payment transaction at a retail checkout, including change. In practice, such comprehensive tracking requires
4681-423: Is backed by the central bank as the issuer. Virtual currency is a digital representation of value that is neither issued by a central bank or a public authority, such as Bitcoin . Facebook's concept for the diem is based on a token to be backed by financial assets such as a basket of national currencies. In 2012, Bank of Canada was considering introducing digital currency. Meanwhile, it rates digital currency
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4832-558: Is increasing in circulation. The amount of the United States dollar in circulation increased by 42% from 2007 to 2012. The amount of pound sterling banknotes in circulation increased by 29% from 2008 to 2013. The amount of euro in circulation increased by 34% from August 2008 to August 2013 (2% of the increase was due to the adoption of euro in Slovakia 2009 and in Estonia 2011). In economic theory (according Keynesian economics ),
4983-537: Is investigating whether Swedish krona need to be made available in electronic form, the so-called e-krona, and if so, how it would affect Swedish legislation and the Riksbank's task. It has started procuring a technical supplier to develop and test solutions for a potential future e-krona. No decisions have yet been taken on issuing an e-krona. An analysis by the Deutsche Bundesbank in 2017 found that
5134-461: Is lost in obscurity, but recent research indicates that methods of keeping accounts have existed from the remotest times of human life in cities. Babylonian records written with styli on small slabs of clay have been found dating to 2600 BC. Mesopotamian bookkeepers kept records on clay tablets that may date back as far as 7,000 years. Use of the modern double entry bookkeeping system was described by Luca Pacioli in 1494. The term " waste book "
5285-440: Is not by chance—because under the double-entry rules, whenever there is a posting, the debits of the posting equal the credits of the posting. If the two totals do not agree, an error has been made, either in the journals or during the posting process. The error must be located and rectified, and the totals of the debit column and the credit column recalculated to check for agreement before any further processing can take place. Once
5436-657: Is reimbursed periodically on satisfactory explanation of how it was spent. The balance of petty cash book is Asset . Journals are recorded in the general journal daybook. A journal is a formal and chronological record of financial transactions before their values are accounted for in the general ledger as debits and credits . A company can maintain one journal for all transactions, or keep several journals based on similar activity (e.g., sales, cash receipts, revenue, etc.), making transactions easier to summarize and reference later. For every debit journal entry recorded, there must be an equivalent credit journal entry to maintain
5587-414: Is still the primary means of payment (and store of value) for unbanked people with a low income and helps avoiding debt traps due to uncontrolled spending of money. It supports anonymity and avoids tracking for economic or political reasons. In addition, cash is the only means for contingency planning in order to mitigate risks in case of natural disasters or failures of the technical infrastructure like
5738-602: Is the cash book , which is similar to a checking account register (in UK: cheque account, current account), except all entries are allocated among several categories of income and expense accounts. Separate account records are maintained for petty cash, accounts payable and accounts receivable , and other relevant transactions such as inventory and travel expenses. To save time and avoid the errors of manual calculations, single-entry bookkeeping can be done today with do-it-yourself bookkeeping software. A double-entry bookkeeping system
5889-407: Is the recording of financial transactions, and is part of the process of accounting in business and other organizations. It involves preparing source documents for all transactions, operations, and other events of a business. Transactions include purchases, sales, receipts and payments by an individual person, organization or corporation. There are several standard methods of bookkeeping, including
6040-417: Is to record the financial effects of transactions. An important difference between a manual and an electronic accounting system is the former's latency between the recording of a financial transaction and its posting in the relevant account. This delay, which is absent in electronic accounting systems due to nearly instantaneous posting to relevant accounts, is characteristic of manual systems, and gave rise to
6191-477: Is usually more centralized than before, the potential for abuse increases. On the other hand, the cash transactions are anonymous, unless purchasing profiles are recorded with the help of loyalty programs based on customer cards, and keep the payment landscape competitive. In August 2023, Chancellor of Austria Karl Nehammer came out in support for enshrining cash in the Austrian constitution . This came after
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6342-508: The Portraits of Periodical Offering , probably painted by Yan Liben (601–673). Having entered Emperor Gaozong's court as a lowly consort, Wu Zetian ultimately acceded to the highest position of power in 690, establishing the short-lived Wu Zhou. Emperor Gaozong suffered a stroke in 655, and Wu began to make many of his court decisions for him, discussing affairs of state with his councillors, who took orders from her while she sat behind
6493-636: The Balkan area and Kievan Rus also used marked silver bars for large payments. As the world economy developed and silver supplies increased, in particular after the colonization of South America, coins became larger and a standard coin for international payment developed from the 15th century: the Spanish and Spanish colonial coin of 8 reales . Its counterpart in gold was the Venetian ducat . Coin types would compete for markets. By conquering foreign markets,
6644-626: The Banque Royale . The relation between money supply and inflation was still imperfectly understood and the bank went under rendering its notes worthless, because they had been over-issued. The lessons learned were applied to the Bank of England , which played a crucial role in financing the Peninsular War against French troops, hamstrung by a metallic Franc de Germinal. The ability to create paper money made nation-states responsible for
6795-565: The European Central Bank (ECB) therefore requires to check the authenticity of deposited and withdrawn banknotes at bank counters and ATMs using tested devices and to trace the origin of suspected counterfeit banknotes to the account holder and physically seize it. Cashless society can be defined as one in which all financial transactions are handled through "digital" forms (debit and credit cards) in preference to cash (physical banknotes and coins). Cashless societies have been
6946-616: The Freedom Party of Austria campaigned on the idea. In 2023, The Swiss government supported moves to have a constitutional protection for cash. This came after a popular initiative asked for it. In June 2023, The Slovakian parliament voted with the support of 111 of 150 MPs to put the right to use Cash in the Constitution of Slovakia . The amendment was proposed by the Sme Rodina party. Bookkeeping Bookkeeping
7097-594: The Han dynasty . The Li family founded the dynasty after taking advantage of a period of Sui decline and precipitating their final collapse, in turn inaugurating a period of progress and stability in the first half of the dynasty's rule. The dynasty was formally interrupted during 690–705 when Empress Wu Zetian seized the throne, proclaiming the Wu Zhou dynasty and becoming the only legitimate Chinese empress regnant . The An Lushan rebellion (755–763) led to devastation and
7248-639: The Hexi Corridor and Dunhuang in Gansu ; in 848, the general Zhang Yichao (799–872) managed to wrestle control of the region from the Tibetan Empire during its civil war . Shortly afterwards, Emperor Xuanzong of Tang ( r. 846–859 ) acknowledged Zhang as the protector ( 防禦使 ; fángyùshǐ ) of Sha Prefecture, and military governor of the new Guiyi Circuit . In addition to factors like natural calamity and jiedushi claiming autonomy,
7399-665: The Tang Empire , was an imperial dynasty of China that ruled from 618 to 907, with an interregnum between 690 and 705. It was preceded by the Sui dynasty and followed by the Five Dynasties and Ten Kingdoms period . Historians generally regard the Tang as a high point in Chinese civilisation, and a golden age of cosmopolitan culture. Tang territory, acquired through the military campaigns of its early rulers, rivalled that of
7550-597: The Tibetan Empire had fallen apart in 842, followed soon after by the Uyghur Kingdom of Qocho , the Tang were in no position to reconquer Central Asia after 763. So significant was this loss that half a century later jinshi examination candidates were required to write an essay on the causes of the Tang's decline. Although An Lushan was killed by one of his eunuchs in 757, this time of troubles and widespread insurrection continued until rebel Shi Siming
7701-571: The Xuanwu Gate Incident on July 2, 626. Shortly thereafter, his father abdicated in his favour, and Li Shimin ascended the throne. He is conventionally known by his temple name Taizong. Although killing two brothers and deposing his father contradicted the Confucian value of filial piety , Taizong showed himself to be a capable leader who listened to the advice of the wisest members of his council. In 628, Emperor Taizong held
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#17327662233867852-628: The first campaign because they failed to overcome the successful defence led by General Yeon Gaesomun . The Tang entered into the Silla–Tang alliance , the Chinese fought against Baekje and their Yamato Japanese allies in the Battle of Baekgang in August 663, a decisive Tang–Silla victory. The Tang dynasty navy had several different ship types at its disposal to engage in naval warfare , these ships described by Li Quan in his Taipai Yinjing (Canon of
8003-491: The single-entry and double-entry bookkeeping systems. While these may be viewed as "real" bookkeeping, any process for recording financial transactions is a bookkeeping process. The person in an organisation who is employed to perform bookkeeping functions is usually called the bookkeeper (or book-keeper). They usually write the daybooks (which contain records of sales, purchases, receipts, and payments), and document each financial transaction, whether cash or credit, into
8154-588: The 13th century, Marco Polo was amazed to find that people traded paper money for goods rather than valuable coins made of silver or gold. He wrote extensively about how the Great Kaan used a part of the Mulberry Tree to create the paper money as well as the process with which a seal was used to impress on the paper to authenticate it. Marco Polo also talks about the chance of forgery and states that someone caught forging money would be punished with death. In
8305-440: The 17th century, European countries started to use paper money in part due to a shortage of precious metals, leading to fewer coins being produced and put into circulation. At first, it was most popular in the colonies of European powers. In the 18th century, important paper issues were made in colonies such as Ceylon and the bordering colonies of Essequibo , Demerara and Berbice . John Law did pioneering work on banknotes with
8456-509: The Chinese model, based his state ceremonies on the Chinese model, and constructed his palace at Fujiwara on the Chinese model of architecture . Many Chinese Buddhist monks came to Japan to help further the spread of Buddhism as well. Two 7th-century monks, Zhi Yu and Zhi You, visited the court of Emperor Tenji ( r. 661–672 ), whereupon they presented a gift of a south-pointing chariot that they had crafted. This vehicle employing
8607-605: The Crown, the coins, having received royal sanction, were struck as silver rupees; the inscription runs "The rupee of Bombaim", by the authority of Charles II. Around that time, coins were also being produced for the East India Company at the Madras mint. The Tamil the word for money is kaasu, which may have been modified into 'cash'. Both words, 'kaasu' and 'cash', have the same meaning, unlike money box. The currency at
8758-463: The Khitans were unsuccessful. He was given great responsibility in Hebei , which allowed him to rebel with an army of more than 100,000 troops. After capturing Luoyang, he named himself emperor of a new, but short-lived, Yan state . Despite early victories scored by the Tang general Guo Ziyi (697–781), the newly recruited troops of the army at the capital were no match for An Lushan's frontier veterans;
8909-587: The Kingdom of Goguryeo was destroyed by 668. Although they were formerly enemies, the Tang accepted officials and generals of Goguryeo into their administration and military, such as the brothers Yeon Namsaeng (634–679) and Yeon Namsan (639–701). From 668 to 676, the Tang Empire controlled northern Korea. However, Silla broke the alliance in 671, and began the Silla–Tang War to expel the Tang forces. At
9060-481: The Song dynasty, when it doubled to 100 million because of extensive rice cultivation in central and southern China, coupled with higher yields of grain sold in a growing market. The 7th and first half of the 8th century are generally considered to be the era in which the Tang reached the zenith of its power. In this period, Tang control extended further west than any previous dynasty, stretching from north Vietnam in
9211-411: The Tang capital Chang'an and with it the imperial family. By 903, he forced Emperor Zhaozong of Tang to move the capital to Luoyang, preparing to take the throne for himself. In 904, Zhu assassinated Emperor Zhaozong to replace him with the emperor's young son Emperor Ai of Tang . In 905, Zhu executed the brothers of Emperor Ai as well as many officials and Empress Dowager He . In 907, the Tang dynasty
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#17327662233869362-529: The Tang census of 754, there were 1,859 cities, 321 prefectures , and 1,538 counties throughout the empire. Although there were many large and prominent cities, the rural and agrarian areas comprised 80–90% of the population. There was also a dramatic migration from northern to southern China , as the North held 75% of the overall population at the dynasty's inception, which by its end was reduced to 50%. The Chinese population would not dramatically increase until
9513-444: The Tang dynasty until the end of 755, there were approximately ten Turkic generals serving under the Tang. While most of the Tang army was made of fubing Chinese conscripts, the majority of the troops led by Turkic generals were of non-Chinese origin, campaigning largely in the western frontier where the presence of fubing troops was low. Some "Turkic" troops were tribalised Han Chinese, a desinicised people. Civil war in China
9664-571: The Tang exerted a powerful cultural influence over neighbouring East Asian nations such as Japan and Korea . Chinese culture flourished and further matured during the Tang era. It is traditionally considered the greatest age for Chinese poetry . Two of China's most famous poets, Li Bai and Du Fu , belonged to this age, contributing with poets such as Wang Wei to the monumental Three Hundred Tang Poems . Many famous painters such as Han Gan , Zhang Xuan , and Zhou Fang were active, while Chinese court music flourished with instruments such as
9815-411: The Tang government responded effectively to natural disasters by extending the price-regulation granary system throughout the country. The central government was able then to build a large surplus stock of foods to ward off the rising danger of famine and increased agricultural productivity through land reclamation . Although these natural calamities and rebellions stained the reputation and hampered
9966-572: The Taoist sage Laozi ( fl. 6th century BC ). People bidding for office would request the prayers of Buddhist monks, with successful aspirants making donations in return. Before the persecution of Buddhism in the 9th century, Buddhism and Taoism were both accepted. Religion was central in the reign of Emperor Xuanzong ( r. 712–756 ). The Emperor invited Taoist and Buddhist monks and clerics to his court, exalted Laozi with grand titles, wrote commentary on Taoist scriptures, and set up
10117-479: The Turks. As early as the Sui dynasty, the Turks had become a major militarised force employed by the Chinese . When the Khitans began raiding northeast China in 605, a Chinese general led 20,000 Turks against them, distributing Khitan livestock and women to the Turks as a reward. On two occasions between 635 and 636, Tang royal princesses were married to Turk mercenaries or generals in Chinese service. Throughout
10268-456: The UK and several other countries) were written to pay money out of the account. Nowadays such transactions are mostly made electronically. Bookkeeping first involves recording the details of all of these source documents into multi-column journals (also known as books of first entry or daybooks ). For example, all credit sales are recorded in the sales journal; all cash payments are recorded in
10419-543: The Western Regions against Gaochang in 640, Karasahr in 644 and 648, and Kucha in 648. The wars against the Western Turks continued under Emperor Gaozong , and the Western Turkic Khaganate was finally annexed after General Su Dingfang 's defeat of Khagan Ashina Helu in 657. Around this time, the Tang court enjoyed visits by numerous dignitaries from foreign lands. These were depicted in
10570-468: The Western Turks ruled by Ashina Helu. The Tang Empire competed with the Tibetan Empire for control of areas in Inner and Central Asia, which was at times settled with marriage alliances such as the marrying of Princess Wencheng ( d. 680 ) to Songtsän Gampo ( d. 649 ). A Tibetan tradition mentions that Chinese troops captured Lhasa after Songtsän Gampo's death, but no such invasion
10721-618: The White and Gloomy Planet of War) of 759. The Battle of Baekgang was actually a restoration movement by remnant forces of Baekje, since their kingdom was toppled in 660 by a Tang–Silla invasion, led by Chinese general Su Dingfang and Korean general Kim Yushin (595–673). In another joint invasion with Silla, the Tang army severely weakened the Goguryeo Kingdom in the north by taking out its outer forts in 645. With joint attacks by Silla and Tang armies under commander Li Shiji (594–669),
10872-477: The ability to maintain their own armies, collect taxes, and pass their titles on hereditarily. This is commonly recognised as the beginning of the fall of Tang's central government. By 737, Emperor Xuanzong discarded the policy of conscripting soldiers that were replaced every three years, replacing them with long-service soldiers who were more battle-hardened and efficient. It was more economically feasible as well, since training new recruits and sending them out to
11023-475: The account to be located in the general ledger. The equity section of the chart of accounts is based on the fact that the legal structure of the entity is of a particular legal type. Possibilities include sole trader , partnership , trust , and company . Computerized bookkeeping removes many of the paper "books" that are used to record the financial transactions of a business entity; instead, relational databases are used today, but typically, these still enforce
11174-405: The accounts balance, the accountant makes a number of adjustments and changes the balance amounts of some of the accounts. These adjustments must still obey the double-entry rule: for example, the inventory account and asset account might be changed to bring them into line with the actual numbers counted during a stocktake . At the same time, the expense account associated with use of inventory
11325-492: The administrations that implemented policy, each of which was assigned different tasks. These Three Departments and Six Ministries included the personnel administration, finance, rites, military, justice, and public works—an administrative model which lasted until the fall of the Qing dynasty (1644–1912). Although the founders of the Tang related to the glory of the earlier Han dynasty (202 BC – 220 AD),
11476-413: The age of 18, had prowess with bow and arrow, sword and lance and was known for his effective cavalry charges. Fighting a numerically superior army, he defeated Dou Jiande (573–621) at Luoyang in the Battle of Hulao on May 28, 621. Due to fear of assassination, Li Shimin ambushed and killed two of his brothers, Li Yuanji ( b. 603 ) and crown prince Li Jiancheng ( b. 589 ), in
11627-437: The ailing Tang was also challenged when natural disasters led many to believe that the Tang had lost their right to rule. In 873, a disastrous harvest shook the foundations of the empire; in some areas only half of all agricultural produce was gathered, and tens of thousands faced famine and starvation. In the earlier period of the Tang, the central government was able to meet crises in the harvest—from 714 to 719, records show that
11778-470: The basis for much of their administrative organisation was very similar to the previous Northern and Southern dynasties . The Northern Zhou (6th century) fubing system of divisional militia was continued by the Tang, along with farmer-soldiers serving in rotation from the capital or frontier in order to receive appropriated farmland. The equal-field system of the Northern Wei (4th–6th centuries)
11929-727: The beginning of his reign in 713, he liquidated the Inexhaustible Treasury of a prominent Buddhist monastery in Chang'an which had collected vast riches as multitudes of anonymous repentants left money, silk, and treasure at its doors. Although the monastery used its funds generously, the Emperor condemned it for fraudulent banking practices , and distributed its wealth to other Buddhist and Taoist monasteries, and to repair local statues, halls, and bridges. In 714, he forbade Chang'an shops from selling copied Buddhist sutras, giving
12080-423: The capital. Students of Confucian studies were candidates for the imperial examinations , which qualified their graduates for appointment to the local, provincial, and central government bureaucracies. Two types of exams were given, mingjing ( 明經 ; 'illuminating the classics') and jinshi ( 進士 ; 'presented scholar'). The mingjing was based upon the Confucian classics and tested the student's knowledge of
12231-585: The case of cashless payment transactions, in addition to the documentation of the payment itself, the personal details of the payer are usually linked to the data of the payee according to the Know Your Customer (KYC) principle. This enables the payment process to be precisely traced for the payer and the payee. The constant increase in digitization leads to a more detailed recording of cashless payment transactions and their evaluation for advertising and marketing campaigns. Since this digital documentation
12382-559: The cash holding of cash (especially sight deposits) is roughly attributed to three motives: The transactions motive covers the business needs of economic subjects, the precautionary motive serves to hold money for liquidity purposes and to provide for crisis situations, and the speculation motive, according to John Maynard Keynes , results from the uncertainty about future interest rate developments and relates to financial investments. In addition to this purely economic importance, there are other aspects of cash use: In practice, there may be
12533-687: The cash in circulation in relation to the gross domestic product (cash to GDP ratio) is a good indicator of cash usage and payment behavior in an economy. In countries like the United States, increased use of debit and credit cards is increasing the amount of cash in circulation at a slower rate than in countries with a high amount of cash payments. In 2018, it ranged from 1.3% (in Sweden ) to more than 21% (in Japan), 10.5% in Switzerland and 10.7% in
12684-425: The cash payments journal. Each column in a journal normally corresponds to an account. In the single entry system , each transaction is recorded only once. Most individuals who balance their check-book each month are using such a system, and most personal-finance software follows this approach. After a certain period, typically a month, each column in each journal is totalled to give a summary for that period. Using
12835-496: The company's Bombay and Bengal administrative regions was the rupee. At Madras, however, the company's accounts were reckoned in pagodas , fractions , fanams , faluce and cash . This system was maintained until 1818 when the rupee was adopted as the unit of currency for the company's operations. Paper money was first used in China during the Tang dynasty 500 years prior to it catching on in Europe. During his visit to China in
12986-467: The conditions for a massive rebellion against Xuanzong. The Tang Empire was at its height of power up until the middle of the 8th century, when the An Lushan rebellion (755–763) destroyed the prosperity of the empire. An Lushan was a half- Sogdian , half- Turkic Tang commander since 744, who had experience fighting the Khitans of Manchuria with a victory in 744, yet most of his campaigns against
13137-438: The correct daybook—that is, petty cash book, suppliers ledger, customer ledger, etc.—and the general ledger . Thereafter, an accountant can create financial reports from the information recorded by the bookkeeper. The bookkeeper brings the books to the trial balance stage, from which an accountant may prepare financial reports for the organisation, such as the income statement and balance sheet . The origin of book-keeping
13288-534: The court fled Chang'an. While the heir apparent raised troops in Shanxi and Xuanzong fled to Sichuan , they called upon the help of the Uyghur Khaganate in 756. The Uyghur khan Moyanchur was greatly excited at this prospect, and married his own daughter to the Chinese diplomatic envoy once he arrived, receiving in turn a Chinese princess as his bride. The Uyghurs helped recapture the Tang capital from
13439-511: The credit institutions are preparing. Since cash holdings at banks do not earn interest and can also lead to security problems ( bank robbery ), banks usually only hold very small amounts of cash. They are therefore forced to involve the central bank in times of higher cash requirements. Therefore, the cash in circulation only remains unchanged if the banks hand over cash from their own cash holdings to their bank customers or take cash deposits from their customers into their own holdings. The ratio of
13590-418: The decline of central authority during the latter half of the dynasty. Like the previous Sui dynasty , the Tang maintained a civil-service system by recruiting scholar-officials through standardised examinations and recommendations to office. The rise of regional military governors known as jiedushi during the 9th century undermined this civil order. The dynasty and central government went into decline by
13741-506: The dynasty's end. From its numerous subjects, the dynasty raised professional and conscripted armies of hundreds of thousands of troops to contend with nomadic powers for control of Inner Asia and the lucrative trade-routes along the Silk Road . Far-flung kingdoms and states paid tribute to the Tang court, while the Tang also indirectly controlled several regions through a protectorate system. In addition to its political hegemony ,
13892-566: The earlier Han dynasty, the Tang and their Turkic allies conquered and subdued Central Asia during the 640s and 650s. During Emperor Taizong's reign alone, large campaigns were launched against not only the Göktürks , but also separate campaigns against the Tuyuhun , the oasis states , and the Xueyantuo . Under Emperor Gaozong, a campaign led by the general Su Dingfang was launched against
14043-435: The effectiveness of the central government, the early 9th century is nonetheless viewed as a period of recovery for the Tang. The government's withdrawal from its role in managing the economy had the unintended effect of stimulating trade, as more markets with fewer bureaucratic restrictions were opened up. By 780, the old grain tax and labour service of the 7th century was replaced by a semi-annual tax paid in cash, signifying
14194-464: The eurozone. Since around 2018, exacerbated by the COVID-19 pandemic, cash in circulation in the eurozone has increased significantly while the share of cash payments (i.e. transactions) has decreased, known as the paradox of banknotes . Analyzes show that private households are increasingly keeping cash as a precaution against crises and that negative interest rates also play a role. This effect
14345-529: The following exceptions in cash applications: Since 2016, the People's Bank of China has requested the recording of banknotes issued and deposited at ATMs and bank counters, arguing that counterfeit money will be prosecuted. However, the serial number is not a reliable indicator, because counterfeit banknotes mostly use serial numbers from real banknotes in circulation. In addition, damaged or scribbled banknotes may cause reading errors . With Directive ECB/2010/14,
14496-611: The frontier every three years drained the treasury. By the late 7th century, the fubing troops began abandoning military service and the homes provided to them in the equal-field system. The supposed standard of 100 mu of land allotted to each family was in fact decreasing in size in places where population expanded and the wealthy bought up most of the land. Hard-pressed peasants and vagrants were then induced into military service with benefits of exemption from both taxation and corvée labour service, as well as provisions for farmland and dwellings for dependents who accompanied soldiers on
14647-544: The frontier. By 742, the total number of enlisted troops in the Tang armies had risen to about 500,000 men. In East Asia, Tang military campaigns were less successful elsewhere than in previous imperial Chinese dynasties. Like the emperors of the Sui dynasty before him , Taizong established a military campaign in 644 against the Korean kingdom of Goguryeo in the Goguryeo–Tang War ; however, this led to its withdrawal in
14798-514: The gold ducat and the gold florin were still issued as trade coins: coins without a fixed value, going by weight. Colonial powers also sought to take away market share from Spain by issuing trade coin equivalents of silver Spanish coins, without much success. In the early part of the 17th century, English East India Company coins were minted in England and shipped to the East. In England, over time
14949-437: The government had to officially acknowledge the jiedushi ' s hereditary rule without accreditation. The Tang government relied on these governors and their armies for protection and to suppress local revolts. In return, the central government would acknowledge the rights of these governors to maintain their army, collect taxes and even to pass on their title to heirs. As time passed, these military governors slowly phased out
15100-498: The imperial court. From Tang times until the end of the Qing dynasty in 1912, scholar-officials served as intermediaries between the people and the government. The potential of a widespread examination system was not fully realised until the succeeding Song dynasty, when the merit-driven scholar official largely shed his aristocratic habits and defined his social status through the examination system. The examination system, used only on
15251-442: The issuing rulers would enjoy extra income from seigniorage (the difference between the value of the coin and the value of the metal the coin was made of). Successful coin types of high nobility would be copied by lower nobility for seigniorage. Imitations were usually of a lower weight, undermining the popularity of the original. As feudal states coalesced into kingdoms, imitation of silver types abated, but gold coins, in particular,
15402-402: The journal and records it into the corresponding accounts. The ledger also determines the balance of every account, which is transferred into the balance sheet or the income statement . There are three different kinds of ledgers that deal with book-keeping: A chart of accounts is a list of the accounts codes that can be identified with numeric, alphabetical, or alphanumeric codes allowing
15553-407: The landed wealth and official positions, was largely destroyed or marginalised. During the last two decades of the Tang dynasty, the gradual collapse of central authority led to the rise of the rival military figures Li Keyong and Zhu Wen in northern China. Tang forces had defeated Huang's rebellion with the aid of allied Shatuo , a Turkic people of what is now Shanxi , led by Li Keyong. He
15704-487: The latter half of the 9th century; agrarian rebellions resulted in mass population loss and displacement, widespread poverty, and further government dysfunction that ultimately ended the dynasty in 907. The Tang capital at Chang'an (present-day Xi'an ) was the world's most populous city for much of the dynasty's existence. Two censuses of the 7th and 8th centuries estimated the empire's population at about 50 million people, which grew to an estimated 80 million by
15855-421: The ledger is called posting . Once the posting process is complete, accounts kept using the "T" format (debits on the left side of the "T" and credits on the right side) undergo balancing , which is simply a process to arrive at the balance of the account. As a partial check that the posting process was done correctly, a working document called an unadjusted trial balance is created. In its simplest form, this
16006-704: The management of inflation , through control of the money supply . It also made a direct relation between the metal of the coin and its denomination superfluous. From 1816, coins generally became token money , though some large silver and gold coins remained standard coins until 1927. The World War I saw standard coins disappear to a very large extent. Afterward, standard gold coins, mainly British sovereigns , would still be used in colonies and less developed economies and silver Maria Theresa thalers dated 1780 would be struck as trade coins for countries in East Asia until 1946 and possibly later locally. Cash has now become
16157-403: The money supply by upholding the use of private coinage, while his aristocratic and technocratic successor Li Linfu ( d. 753 ) favoured government monopoly over the issuance of coinage. After 737, most of Xuanzong's confidence rested in his long-standing chancellor Li Linfu , who championed a more aggressive foreign policy employing non-Chinese generals. This policy ultimately created
16308-408: The most widely used payment instrument in the world and on all continents. In 17 out of 24 studied countries, cash represents more than 50% of all payment transactions, with Austria at 85%, Germany at 80%, France at 68%. The United Kingdom at 42%, Australia at 37%, United States at 32%, Sweden at 20%, and South Korea at 14% are among the countries with lower cash usage. By the 2010s, cash was no longer
16459-455: The norms of bookkeeping including the single-entry and double-entry bookkeeping systems. Certified Public Accountants (CPAs) supervise the internal controls for computerized bookkeeping systems, which serve to minimize errors in documenting the numerous activities a business entity may initiate or complete over an accounting period. Tang dynasty The Tang dynasty ( / t ɑː ŋ / , [tʰǎŋ] ; Chinese : 唐朝 ), or
16610-545: The northwest military aristocracy prevalent during the Sui dynasty . According to official Tang records, they were paternally descended from Laozi , the traditional founder of Taoism (whose personal name was Li Dan or Li Er), the Han dynasty general Li Guang , and Li Gao , the founder of the Han-ruled Western Liang kingdom. This family was known as the Longxi Li lineage, which also included
16761-409: The only form of money, until Venetian merchants started using silver bars for large transactions in the early Middle Ages . In a separate development, Venetian merchants started using paper bills , instructing their banker to make payments. Similar marked silver bars were in use in lands where the Venetian merchants had established representative offices. The Byzantine Empire and several states in
16912-517: The original forms after her death. Arguably the most important part of her legacy was diminishing the hegemony of the Northwestern aristocracy, allowing people from other clans and regions of China to become more represented in Chinese politics and government. There were many prominent women at court during and after Wu's reign, including Shangguan Wan'er (664–710), a poet, writer, and trusted official in charge of Wu's private office. In 706,
17063-478: The palace with a few followers and slew Empress Wei and her faction. He then installed his father Emperor Ruizong ( r. 710–712 ) on the throne. Just as Emperor Zhongzong was dominated by Empress Wei, so too was Ruizong dominated by Princess Taiping . This ended when Princess Taiping's coup failed in 712, and Emperor Ruizong abdicated to Emperor Xuanzong . The Tang reached its height during Emperor Xuanzong's 44-year reign, which has been characterized as
17214-496: The popular pipa . Tang scholars compiled a rich variety of historical literature , as well as encyclopaedias and geographical works. Notable innovations included the development of woodblock printing . Buddhism became a major influence in Chinese culture, with native Chinese sects gaining prominence. However, in the 840s, Emperor Wuzong enacted policies to suppress Buddhism , which subsequently declined in influence. The House of Li had ethnic Han origins, and it belonged to
17365-417: The population was tallied at 9 million households, about 50 million people, and this number did not increase in the census of 742. Patricia Ebrey writes that nonwithstanding census undercounting, China's population had not grown significantly since the earlier Han dynasty , which recorded 58 million people in 2 AD. Adshead disagrees, estimating about 75 million people by 750. In
17516-462: The position of Taishang Huang ('retired emperor'), and acted as regent to the puppet child-emperor Yang You . On the news of Emperor Yang's murder by General Yuwen Huaji on June 18, 618, Li Yuan declared himself emperor of the newly founded Tang dynasty. Emperor Gaozu ruled until 626, when he was forcefully deposed by his son Li Shimin , the Prince of Qin. Li Shimin had commanded troops since
17667-404: The practice of selling merchants the rights to buy monopoly salt, which they transported and sold in local markets. In 799, salt accounted for over half of the government's revenues. S. A. M. Adshead writes that this salt tax represents "the first time that an indirect tax, rather than tribute, levies on land or people, or profit from state enterprises such as mines, had been the primary resource of
17818-518: The preferred method of payment in the United States. In 2016, the United States User Consumer Survey Study reported that three out of four of the participants preferred a debit or credit card payment instead of cash. Some nations have contributed to this trend, by regulating what type of transactions can be conducted with cash and setting limits on the amount of cash that can be used in a single transaction. Cash
17969-408: The primary books of accounts—cash book, purchase book, sales book, etc.—for immediately documenting a financial transaction. In the normal course of business, a document is produced each time a transaction occurs. Sales and purchases usually have invoices or receipts . Historically, deposit slips were produced when lodgements (deposits) were made to a bank account ; and checks (spelled "cheques" in
18120-407: The prominence of civil officials drafted by exams, and became more autonomous from central authority. The rule of these powerful military governors lasted until 960, when a new civil order under the Song dynasty was established. The abandonment of the equal-field system also meant that people could buy and sell land freely; many poor fell into debt because of this and were forced to sell their land to
18271-400: The prominent Tang poet Li Bai . The Tang emperors were partially of Xianbei ancestry, as Emperor Gaozu of Tang 's mother Duchess Dugu was part-Xianbei. Apart from the traditional historiography, some modern historians have suggested the Tang imperial family might have modified its genealogy to conceal their Xianbei heritage. Emperor Gaozu (born Li Yuan) was the founder of the Tang. He
18422-479: The rebels, but they refused to leave until the Tang paid them an enormous sum of tribute in silk. Even Abbasid Arabs assisted the Tang in putting down the rebellion. A massacre of foreign Arab and Persian Muslim merchants by Tian Shengong happened during the An Lushan rebellion in the 760 Yangzhou massacre . The Tibetans took hold of the opportunity and raided many areas under Chinese control, and even after
18573-512: The release of enslaved Chinese prisoners who were captured during the transition from Sui to Tang from the northern frontier; this embassy succeeded in freeing 80,000 Chinese men and women who were then returned to China. While the Turks were settled in the Ordos region (former territory of the Xiongnu ), the Tang government took on the military policy of dominating the central steppe. As during
18724-561: The rules of double-entry, these journal summaries are then transferred to their respective accounts in the ledger , or account book . For example, the entries in the Sales Journal are taken and a debit entry is made in each customer's account (showing that the customer now owes us money), and a credit entry might be made in the account for "Sale of class 2 widgets" (showing that this activity has generated revenue for us). This process of transferring summaries or individual transactions to
18875-876: The same time the Tang faced threats on its western border when a large Chinese army was defeated by the Tibetans on the Dafei River in 670. By 676, the Tang army was expelled out of Korea by a unified Silla . Following a revolt of the Eastern Turks in 679, the Tang abandoned its Korean campaigns. Although the Tang had fought the Japanese, they still held cordial relations with Japan. There were numerous Imperial embassies to China from Japan, diplomatic missions that were not halted until 894 by Emperor Uda ( r. 887–897 ), upon persuasion by Sugawara no Michizane (845–903). The Japanese Emperor Tenmu ( r. 672–686 ) even established his conscripted army on that of
19026-521: The shift to a money economy boosted by the merchant class. Cities in the southern Jiangnan region such as Yangzhou , Suzhou , and Hangzhou prospered the most economically during the late Tang period. The government monopoly on salt production , weakened after the An Lushan rebellion, was placed under the Salt Commission , which became one of the most powerful state agencies, run by capable ministers chosen as specialists. The commission began
19177-494: The south, to a point north of Kashmir bordering Persia in the west, to northern Korea in the north-east. Some of the kingdoms paying tribute to the Tang dynasty included Kashmir , Nepal, Khotan , Kucha , Kashgar , Silla , Champa , and kingdoms located in Amu Darya and Syr Darya valley. Turkic nomads addressed the Tang emperor as Tian Kehan . After the widespread Göktürk revolt of Shabolüe Khan ( d. 658 )
19328-560: The steppe nomads. Chinese foreign policy to the north and west now had to deal with Turkic nomads, who were becoming the most dominant ethnic group in Central Asia. To handle and avoid any threats posed by the Turks, the Sui government repaired fortifications and received their trade and tribute missions. They sent four royal princesses to form heqin marriage alliances with Turkic clan leaders, in 597, 599, 614, and 617. The Sui stirred trouble and conflict among ethnic groups against
19479-701: The throne, he was deposed by Empress Wu in favour of his younger brother, Emperor Ruizong . This provoked a group of Tang princes to rebel in 684. Wu's armies suppressed them within two months. She proclaimed the Tianshou era of Wu Zhou on October 16, 690, and three days later demoted Emperor Ruizong to crown prince . He was also forced to give up his father's surname Li in favour of the Empress Wu. She then ruled as China's only empress regnant . A palace coup on February 20, 705, forced Empress Wu to yield her position on February 22. The next day, her son Zhongzong
19630-607: The various regions of the empire, it was recorded in 845 that bandits and river pirates in parties of 100 or more began plundering settlements along the Yangtze River with little resistance. In 858, massive floods along the Grand Canal inundated vast tracts of land and terrain of the North China Plain , which drowned tens of thousands of people in the process. The Chinese belief in the Mandate of Heaven granted to
19781-417: The way for the later overthrow of the Tang. Large groups of bandits in the size of small armies ravaged the countryside in the last years of the Tang. They smuggled illicit salt, ambushed merchants and convoys, and even besieged several walled cities. Amid the sacking of cities and murderous factional strife among eunuchs and officials, the top tier of aristocratic families, which had amassed a large fraction of
19932-488: The wealthy, which led to the exponential growth of large estates. With the breakdown of the land allocation system after 755, the central Chinese state barely interfered in agricultural management and acted merely as tax collector for roughly a millennium, save a few instances such as the Song's failed land nationalisation during the 13th-century war with the Mongols . With the central government collapsing in authority over
20083-475: The wife of Emperor Zhongzong of Tang, Empress Wei ( d. 710 ), persuaded her husband to staff government offices with his sister and her daughters, and in 709 requested that he grant women the right to bequeath hereditary privileges to their sons (which before was a male right only). Empress Wei eventually poisoned Zhongzong, whereupon she placed his fifteen-year-old son upon the throne in 710. Two weeks later, Li Longji (the later Emperor Xuanzong) entered
20234-472: The word cash was adopted from Sanskrit कर्ष karsa, a weight of gold or silver but akin to the Old Persian 𐎣𐎼𐏁 karsha, unit of weight (83.30 grams). East India Company coinage had both Urdu and English writing on it, to facilitate its use within the trade. In 1671, the directors of the East India Company ordered a mint to be established at Bombay , known as Bombaim. In 1677 this was sanctioned by
20385-445: Was a brief end to the hereditary jiedushi , as Xianzong appointed his own military officers and staffed the regional bureaucracies once again with civil officials. However, Xianzong's successors proved less capable and more interested in the leisure of hunting, feasting, and playing outdoor sports, allowing eunuchs to amass more power as drafted scholar-officials caused strife in the bureaucracy with factional parties. The eunuchs' power
20536-570: Was aided by the fiscal reforms of the 780s, including a government monopoly on the salt industry. He also had an effective and well-trained imperial army stationed at the capital led by his court eunuchs; this was the Army of Divine Strategy, numbering 240,000 in strength as recorded in 798. Between 806 and 819, Emperor Xianzong conducted seven major military campaigns to quell the rebellious provinces that had claimed autonomy from central authority, managing to subdue all but two of them. Under his reign, there
20687-517: Was almost totally diminished by 626, along with the 628 defeat of the Ordos warlord Liang Shidu ; after these internal conflicts, the Tang began an offensive against the Turks. In 630, Tang armies captured areas of the Ordos Desert, modern-day Inner Mongolia province, and southern Mongolia from the Turks. After this military victory, On June 11, 631, Emperor Taizong also sent envoys to the Xueyantuo bearing gold and silk in order to persuade
20838-483: Was also filled with incredible amounts of riches and resources to spare. When the Chinese prefectural government officials travelled to the capital in 643 to give the annual report of the affairs in their districts, Emperor Taizong discovered that many had no proper quarters to rest in and were renting rooms with merchants. Therefore, Emperor Taizong ordered the government agencies in charge of municipal construction to build every visiting official his own private mansion in
20989-447: Was also kept, although there were a few modifications. Although the central and local governments kept an enormous number of records about land property in order to assess taxes, it became common practice in the Tang for literate and affluent people to create their own private documents and signed contracts. These had their own signature and that of a witness and scribe in order to prove in court (if necessary) that their claim to property
21140-650: Was designed to draw the best talent into government. But perhaps an even greater consideration for the Tang rulers was to avoid imperial dependence on powerful aristocratic families and warlords by recruiting a body of career officials having no family or local power base. The Tang law code ensured equal division of inherited property among legitimate heirs, encouraging social mobility by preventing powerful families from becoming landed nobility through primogeniture . The competition system proved successful, as scholar-officials acquired status in their local communities while developing an esprit de corps that connected them to
21291-545: Was different when a servant or nephew killed a master or an uncle than when a master or uncle killed a servant or nephew. The Tang Code was largely retained by later codes such as the early Ming dynasty (1368–1644) code of 1397, yet there were several revisions in later times, such as improved property rights for women during the Song dynasty (960–1279). The Tang had three departments ( 省 ; shěng ), which were obliged to draft, review, and implement policies respectively. There were also six ministries ( 部 ; bù ) under
21442-595: Was ended when Zhu deposed Ai and took the throne for himself (known posthumously as Emperor Taizu of Later Liang). He established the Later Liang , which inaugurated the Five Dynasties and Ten Kingdoms period . A year later, Zhu had the deposed Emperor Ai poisoned to death. Zhu Wen's enemy Li Keyong died in 908, having never claimed the title of emperor out of loyalty to the Tang. His son Li Cunxu (Emperor Zhuangzong) inherited his title Prince of Jin along with his father's rivalry against Zhu. In 923, Li Cunxu declared
21593-421: Was established in 653; it was divided into 500 articles specifying different crimes and penalties ranging from ten blows with a light stick, one hundred blows with a heavy rod, exile, penal servitude, or execution. The legal code distinguished different levels of severity in meted punishments when different members of the social and political hierarchy committed the same crime. For example, the severity of punishment
21744-470: Was killed by his own son in 763. After 710, regional military governors called jiedushi gradually came to challenge the power of the central government. After the An Lushan rebellion, the autonomous power and authority accumulated by the jiedushi in Hebei went beyond the central government's control. After a series of rebellions between 781 and 784 in present-day Hebei, Henan , Shandong , and Hubei,
21895-491: Was legitimate. The prototype of this actually existed since the ancient Han dynasty, while contractual language became even more common and embedded into Chinese literary culture in later dynasties. The centre of the political power of the Tang was the capital city of Chang'an (modern Xi'an ), where the emperor maintained his large palace quarters and entertained political emissaries with music, sports, acrobats, poetry, paintings, and dramatic theatre performances . The capital
22046-465: Was made a jiedushi , and later Prince of Jin , bestowed with the imperial surname Li by the Tang court. Zhu Wen, originally a salt smuggler who served as a lieutenant under the rebel Huang Chao, surrendered to Tang forces. By helping to defeat Huang, he was renamed Zhu Quanzhong ("Zhu of Perfect Loyalty") and granted a rapid series of promotions to military governor of Xuanwu Circuit. In 901, from his power base of Kaifeng , Zhu Wen seized control of
22197-719: Was not challenged following the Ganlu Incident , where Emperor Wenzong ( r. 826–840 ) failed in his plot to have them overthrown; instead, Wenzong's allies were publicly executed in Chang'an's West Market on the eunuchs' command. Decades after the An Lushan rebellion, the Tang was able to muster enough power to launch offensive military campaigns, including its destruction of the Uyghur Khaganate in Mongolia from 840 to 847. The Tang managed to restore indirect control over former territories as far west as
22348-572: Was previously Duke of Tang and governor of Taiyuan , the capital of modern Shanxi , during the collapse of the Sui dynasty (581–618). Li had prestige and military experience, and was a first cousin of Emperor Yang of Sui (their mothers were both one of the Dugu sisters ). Li Yuan rose in rebellion in 617, along with his son and his equally militant daughter Princess Pingyang ( d. 623 ), who raised and commanded her own troops. In winter 617, Li Yuan occupied Chang'an , relegated Emperor Yang to
22499-533: Was put down at Issyk Kul in 657 by Su Dingfang (591–667), Emperor Gaozong established several protectorates governed by a Protectorate General or Grand Protectorate General, which extended the Chinese sphere of influence as far as Herat in Western Afghanistan. Protectorate Generals were given a great deal of autonomy to handle local crises without waiting for central admission. After Xuanzong's reign, jiedushi were given enormous power, including
22650-554: Was restored to power; the Tang was formally restored on March 3. She died soon after. To legitimise her rule, she circulated a document known as the Great Cloud Sutra , which predicted that a reincarnation of the Maitreya Buddha would be a female monarch who would dispel illness, worry, and disaster from the world. She even introduced numerous revised written characters for the language, though they reverted to
22801-400: Was used in colonial America, referring to the documenting of daily transactions of receipts and expenditures. Records were made in chronological order, and for temporary use only. Daily records were then transferred to a daybook or account ledger to balance the accounts and to create a permanent journal; then the waste book could be discarded, hence the name. The primary purpose of bookkeeping
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