Origins Of Money And Banking

IntroductionHistory of banking is closely related to history of coin . As fiscal payments became important pile looked for ways to safely store their fortunate and merchants looked for ways to borrow bills to fund expeditions The word ` cash originated from the Latin word Moneta which comes from the temple of Juno (Hera , the Moneta where the Roman bills came change in the archeozoic days of Rome . Money is define as any good or token or an outline that functions as a medium of rally that is socially and legally accepted in payment for goods and go and in colonisation of debts . Money as closely as serves as a exemplar for measuring the relative worth of different goods and services also provides as easier alternative to barter . The efficiency gains end the us get on of money are thought to encourage mete out and piece of labor , in turn increasing productivity and wealthiness . currency is the most common type of physiological money today . However goods much(prenominal) as gold or silver retain numerous of money s native properties . The social occasion of goods and services of money makes all commodities become to a greater extent(prenominal) liquid (Davies , 2002History of money : Spans thousands of years and money itself must be a infrequent good . The first people didn t taint goods from other people with money . They utilise barter . calling is the exchange of personalized possessions of value for other goods that you insufficiency . This variant of exchange started at the beginning of humankind and is still utilize today . From 9 ,000-6 ,000 B .C , livestock was often apply as a unit of exchange . Later , as agriculture certain , people used crops for barter .

more items have been used as money ranging from naturally strange precious metals and conch shells through cigarettes to entirely artificial money such asNAME Money and bankingbank invoices (kind of transferrable instrument , a promissory note made a by a bank collectible to the bearer on demand , used as money and under many jurisdictions is used as legal tenderThe use of protomoney dates back to at least 100 , 000BC (Davies , 2002 . Trading in red ochre (pigment made from naturally tinted clay ) is demonstrate in Switzerland from virtually that period and ochre seems to have functioned as a protomoney in Aboriginal Australia . Shell jewellery in the form of form strings had served as good with the staple fiber attributes needed for early money . Before the metallic age , shell or ivory jewellery were the most cleavable , easily storable and transportable , scarce and hard to counterfeit objects that could be made . Many instances when money was objects used for their intrinsic value as well as their monetary properties and called commodity money This included urge on nails , pigs , rare sea shells , hunt s teeth and often cattle . At about 1200 B .C . in China , cowrie shells became the first medium of exchange , or money . The cowry has served as money end-to-end history even to the mettle of this century . In medieval Iraq , bread was used as an early form of...If you want to get a climb essay, order it on our website: OrderEssay.net

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