Money

The purpose of trade wind-like methods may date back to at least 100,000 years ago, though there is no evidence of a society or economy that relied primarily on barter.[9] Instead, non-monetary societies operated to a greater extent often than not along the principles of gift economics and debt.[10][11] When barter did in circumstance occur, it was usually between either slay strangers or authority enemies.[12] Many cultures around the world at long last developed the use of good money. The shekel was originally a unit of measurement of weight, and referred to a proper(postnominal) weight of barley, which was used as currency.[13] The graduation puzzle out usage of the condition came from Mesopotamia circa 3000 BC. Societies in the Americas, Asia, Africa and Australia used shell money often, the shells of the money cowrie (Cypraea moneta L. or C. annulus L.). According to Herodotus, the Lydians were the primary people to deliver the use of gilded and silver coins.[ 14] It is thinking by late scholars that these initiative stamped coins were minted around 650600 BC.[15] Song Dynasty Jiaozi, the worlds earliest paper money The organisation of commodity money at last evolved into a body of instance money.[citation needed] This occurred because sumptuous and silver merchants or banks would issue revenue to their depositors recoverable for the commodity money deposited.

Eventually, these receipts became generally accepted as a means of defrayment and were used as money. wallpaper money or banknotes were first used in chinawargon during the Song Dynasty. These bankn otes, known as jiaozi, evolved from promisso! ry notes that had been used since the seventh century. However, they did not displace commodity money, and were used alongside coins. Banknotes were first issued in Europe by Stockholms Banco in 1661, and were again overly used alongside coins. The gold standard, a monetary system where the medium of exchange are paper notes that are cashable into pre-set, fixed quantities of gold, replaced the use of gold coins as currency in the 17th-19th centuries in...If you want to get a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper