Ming Dynasty Economy The Ming Dynasty was the first dynasty in China with silver as the main body of the monetary system (previously copper coins), which was closely related to the failure of the circulation of Ming Dynasty paper money "Daming Treasure House". At that time, due to the limited understanding and means of mineral resources investigation in China, people mistakenly thought that China was a country with relatively scarce copper resources. Therefore, the government believes that with the development and progress of economy, China's limited copper resources can hardly meet the needs of currency circulation. Therefore, in the seventh year of Ming Hongwu, the Banknotes Law was promulgated and the Banknotes Collection Department was established. Under it, there are two paper copying and printing offices, as well as two warehouses for treasures and banks. Start issuing Daming paper money. Ming Taizu Hongwu was built in the eighth year (1375). The following year, it was issued in the name of Nanjing, Zhongshu Province. Daming Treasure Banknote is the only official banknote issued in the Ming Dynasty, which was used for 270 years. Due to the poor paper quality at that time, Daming paper money was difficult to last, but it was easy to imitate. Moreover, in the Ming Dynasty, banknotes were only issued but not collected, and old banknotes were neither divided nor recycled. As a result, more and more banknotes are circulating in the market, and precious banknotes are flooding. In the year of publication, inflation and depreciation were extremely rapid, and people abandoned them one after another, eventually ending in failure. The failure of issuing paper money further inhibited the development of commerce, and the portability and safety of precious metals such as gold and silver were greatly reduced. At the same time, the country is afraid of the loss of precious metals overseas, which shakes the country, restricts commercial activities and hinders the development of business. In fact, this practice not only delays the communication between East and West through business, but also delays the cultural communication through business. It is a pity that the communication between the East and the West has gradually come to an abrupt end and a great opportunity to learn from each other and integrate into the world has been lost.