Muhammad Bin Tuglaq paid his soldiers with 'token currency' made out of cheap metals not gold and silver. Important Points Muhammad Bin Tuglaq maintained a large standing army. The agricultural produce from a particular area where soldiers were stationed was collected as tax to feed the army. Muhammad Tughluq also paid his soldiers cash salaries. Due to famine, there was increase in the price of commodities. Instead of controlling prices, he used a 'token” currency', somewhat like present-day paper currency, but made out of cheap metals, not gold and silver. People in the fourteenth century did not trust these coins. They were very smart as they saved their gold and silver coins and paid all their taxes to the state with this token currency. Due to this, this policy of 'token currency' was a failure. Hence, we can conclude that the correct answer is - Muhammad Bin Tuglaq.