Japan - Hansatsu notes (1600-1860's)

Paper money issued by the feudal clans – the "han", hence the term "hansatsu" – differed from Yamada Hagaki in that it effectively demanded respect as legal tender substituting all gold, silver and copper transactions within the borders of the region issuing the notes. Local authorities supported their paper money by prohibiting the circulation of cast coins and by imposing charges on any exchange of paper and metal money within their reach. Hansatsu notes were almost always authorized by the shogunate – by the same shogunate which strove for a unified metal based currency and for supremacy over the feudal lords. Hansatsu issued by a region could, so the laws, not claim any value outside their region.