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Did the Chinese Invent Money? In the Introduction to this book, first published in English in 2010, I wrote: “The idea of sound money was present from the very beginning of modern monetary theory in the works of the sixteenth-century Spanish Scholastics. . . .”  Recent research has shown that the seeds of the theory of sound money were already present in Chinese writings centuries before the Scholastics.[1] China was one of the first countries to develop a metallic money that was valued and exchanged by weight.  Evidence suggests that this monetary regime originated during the Shang Dynasty (1766-1122 B.C.) or the Zhou Dynasty (1122-221 B.C.).  China was also one of the first countries to use precious metals as money and may have invented coined money. The long experience with a purely metallic monetary system naturally stimulated Chinese state officials, royal advisers, and philosophers to investigate and debate the origins and functioning of such a system and the policies

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