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The History Of Money. COLOR indigo]According to Voltaire, “it is easier to write on money than to obtain it, and those who gain it, jest much at those who only know how to write about it.” Is money one of the shatteringly simplifying ideas of all time? I think that Paul J. Bohannan can explain it better than me as he considers money so. He believes that money creates its own revolution. Does most money have any value of its own? The answer is simple. No, it does not. It is worth what it can buy at any given tim[e. Could we trace out the exact time when money or some thing like money came to play its part to run the day-to-day lives of we humans? When and how money was first introduced to human society and where? The history of money begins with humans learning to trade first the things they possessed in excess for the things they needed. Please do not ask me when or where. It may be in an unknown village of a country in West Africa either at a certain time or in the island of Manhattan at morning hours of an unrecorded day! However, it can only be said that the system works almost similar way today even with certain variation. We could now give the seller money so that he can buy what he needs! It was barter in the beginning! Barter was born when a group of our ancestors learned to produce extra things to exchange for what they did not have or were unable to produce themselves. Some of you may be surprised if I refer to the great swap of 1626 involving beads and trinkets worth $24 for the island of Manhattan. As the trade flourished, people had to come up with new ideas for solving various problems related to trade. Therefore, money came into use for obvious reasons! People had to agree about something that was acceptable to all as a means of payment. Over the years, money has taken many different forms. In ancient China, salt was also used as money for making purchases. Even the Roman soldiers received sacks of salt as salary. We all know the word salary drives from the Latin word sal, which means salt. Do not be surprised if some one tells you that wooden nickels were also used in the U.S. for specific reasons in the 1930s, after the Great Depression. Perhaps, you may have also heard about Four Bits used by American colonists. There are other forms of payment used by different countries at different times throughout ages. These are Stone money, Ivory (Whale Tooth) Elephant Hair, Tobacco, Brick Tea money, East Indian money Tree, Copper money, Gold Stater, Drachma, Owl Coin, Sestertius of Caesar Augustus, Pine Tree Shilling, Yen or Round money and Piece of Eight (8 Reals ) etc.. Readers may please view the pictures of some known objects used as money in different countries during a given time on the picture section of this page. People in Egypt and in Asia Minor, used various precious metals—gold, silver and copper to pay for goods and services beginning from 2500 BC. The Kingdom of Lydia started minting coins made of electrum ( a pale yellow alloy of gold and silver ) by 700 BC. The earliest Paper money could be traced to China. Kublai Khan issued paper money in 1282. The notes made of mulberry bark bearing his seal and his treasurers’ signatures became legal tenders. The Kuan, issued in China by the Ming dynasty, between 1368 and 1399 is the oldest surviving paper money. Paper money, now a days, come in different colors, sizes and denominations. However, their real value depends on the economic strength of the country that issues the notes. The history of money is a long one. If my readers would like to learn more about it then they must take the help of books written on money. There are many well-written and informative books on the subject available in the book market. Needless to mention here that “now, at the opening of twenty-first century, the world has since entered the third stage of its monetary history---the era of electronic money and the virtual economy.” Happy Readings:          |
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3/9/2015 11:01 am |
Good info. I remember learning this way back when in school but haven't thought about it in years. Spiritwoman ^i^
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Good info. I remember learning this way back when in school but haven't thought about it in years.
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In Quebec, we studied Voltaire and yes this was one of the quotes I remember (in French): "Il est plus facile d'écrire sur l'argent que l'obtenir et ceux qui le gagnent, la plaisanterie beaucoup à ceux qui savent seulement en écrire". But very interesting blog indeed!
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In Quebec, we studied Voltaire and yes this was one of the quotes I remember (in French): "Il est plus facile d'écrire sur l'argent que l'obtenir et ceux qui le gagnent, la plaisanterie beaucoup à ceux qui savent seulement en écrire". But very interesting blog indeed!
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Hi Look, MBN, Thank you for this very informative blog on money. The info is very interesting to know how trading was dealt in the ancient era until ours. money has become a very essential mean in our daily life for our own needs and money has also become a devil in disguise as well. Economists define money as anything commonly accepted by people for the exchange of goods and services. Although every country has its own system of coins and paper money, other things can also often be used as money. Just as a matter of.....a joke be it, I guess in the future, TO GREET ONE ANOTHER, would soon be payable !!!.  . Greetings have become as a commodity nowadays and many seem to have lost this courtesy. Enjoy your day Look and the days ahead too.My best wishes to you. Lisa.
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Hi Look, MBN, Thank you for this very informative blog on money. The info is very interesting to know how trading was dealt in the ancient era until ours. money has become a very essential mean in our daily life for our own needs and money has also become a devil in disguise as well. Economists define money as anything commonly accepted by people for the exchange of goods and services. Although every country has its own system of coins and paper money, other things can also often be used as money. Just as a matter of.....a joke be it, I guess in the future, TO GREET ONE ANOTHER, would soon be payable !!!. . Greetings have become as a commodity nowadays and many seem to have lost this courtesy. Enjoy your day Look and the days ahead too.My best wishes to you. Lisa. Thank you so much for leaving such a post here on my blog that has surely enhanced the quality of my efforts. Yes Lisa, money has revolutionized our lives for good, for bad and for ugly things too. It is now up to us how we use money best for good causes !! I will consider myself completely shattered if ever greetings are treated as commodities in future. I would never accept it even as a joke. I shall continue to greet my friends, relatives and even unknowns as before free of cost !! Lisa, dear lady, I believe that courtesy costs us nothing. Kindest Personal Regards. Take care and stay always cheerful look.
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