Contemporaneous with the Southern Sungs, the Chin Tartars ruled Northern China. So far as the issue of paper money was concerned they followed the Sungs - both of them running a mad race in the issue of the assignats. The Chin paper currency was inconvertible; it was called Ch'ao, a name subsequently adopted to denote both Government paper currency and bank notes, without distinction. The Chin Ch'ao was ten in number and of the following denominations: 10,000, 5,000, 3,000, 2,000, and 1,000 cash notes for use in "large payments" and 700, 500, 300, 200, and 100 cash notes for use in "small payments," or, in other words, as subsidiary currency. These notes were redeemable by the new series once every seven years, at a charge of 15 cash per note. The currency of the Chin's was better controlled and more centralized than that of their neighbours.