It is thus evident that practically all the banking business done in China up to the twelfth century was undertaken by government. I mentioned already that under the Tang Dynasty the Government did not a little banking business; and it continued to transact a good deal of such business ever since. I have also stated how it was necessary for the Government to do this business, which was then undertaken partly to facilitate the collection of taxes and partly to help traders. The business became more or less complicated owing to the various changes in currency. The issues of paper notes, the several copper coins and the several systems of tax collection were more or less intimately connected with banking in this country. For instance, in the year 1263, the taxes were estimated at 712,171 catties of silk and 56,158 ting of notes - a ting being worth 50 taels of silver; in 1265, the taxes totalled 986,912 catties of silk, 56,874 ting of silver and notes, and 85,412 pieces of woven fabrics; in 1266, silk 1,053,226 catties and silver and notes 5908 ting; in 1267, silk 1,096,489 catties and 78,126 ting of notes. As the years progressed taxes were paid in other articles besides silk; for instance, in 1329 the taxes were collected in the shape of 989 ting silver and notes, 1,133,119 strings of cowrie shells, 1,098,843 catties of silk, 350,530 pieces of woven silk, 72,915 catties of cotton and 211,223 pieces of woven cloth. These commodities had to be exchanged and re-exchanged; naturally the Government had to do a sort of banking business.