The speed with which the governments of many civilizations were able to modernize was significantly …show more content…
Although some European countries were hesitant to accept paper at first, it gradually grew very popular. Huge amounts of paper were being produced for low prices, so people could afford to buy it. Paper was a very light form of money that could easily carried around, yet it was eventually worth more than gold. Since paper money was more convenient than gold, people carried it around more and spent more money, which helped the economy of the empire. Also, one of the reasons that paper grew popular was that it could be produced relatively easily and for less money than other materials that were previously used instead of paper. For instance, papyrus required specific conditions to in order to grow, while paper could be produced easily in large quantities. Similarly, the process involved in making parchment was very complicated and required much preparation, whereas paper does not. According to Marco Polo, a Venetian merchant who wrote an account of his travels to Asia in the 13th century, "with...paper-money [people in the empire] can buy what they like anywhere over the Empire, whilst it is also vastly lighter to carry about on their journeys” (Polo). This emphasizes that once the empire established a standard currency throughout the empire, people did not need to convert their money whenever they travelled to a new part of the empire, which encouraged them to spend more money on luxury items. Additionally, the fact that paper money was “vastly lighter” than other forms of money encouraged people to make longer journeys to spend money, which benefited the economy tremendously. Polo also explains that "When any of those pieces of paper [money] are spoilt - not that they are so very flimsy neither - the owner carries them to the Mint, and by paying three percent on that value he gets new pieces in exchange" (Polo). The fact that anyone who damages money must bring