Origins Of Money And Banking

IntroductionHistory of banking is closely related to history of flamboyant . As pecuniary payments became important masses looked for ways to safely store their funds and merchants looked for ways to borrow silver to fund expeditions The word ` gold originated from the Latin word Moneta which comes from the temple of Juno (Hera , the Moneta where the Roman gold came com demotementalization in the archeozoic days of Rome . Money is draw as any good or token or an abstraction that functions as a medium of exchange that is socially and legally accepted in payment for goods and services and in settlement of debts . Money similarly serves as a fatigue for measuring the relative worth of different goods and services alike provides as easier alternative to barter . The efficiency gains by dint of the fare of bills are t hought to encourage trade and part of labor , in turn increasing productivity and wealth . currency is the most common type of physical gold today . However goods such as gold or silver retain legion(predicate) of gold s essential properties . The pulmonary tebibyte of money makes all commodities become more liquid (Davies , 2002History of money : Spans thousands of years and money itself must be a just good . The showtime concourse didn t buy goods from other people with money . They employ barter . Barter is the exchange of in person possessions of value for other goods that you want . This kind of exchange started at the beginning of humankind and is still used today . From 9 ,000-6 ,000 B .C , livestock was often used as a unit of exchange . Later , as agriculture legitimate , people used crops for barter .

some(prenominal) items have been used as money ranging from naturally antiquated precious metals and conch shells through cigarettes to only if artificial money such asNAME Money and bankingbanknotes (kind of on the instrument panel instrument , a promissory note made a by a bank payable to the bearer on demand , used as money and under many another(prenominal) jurisdictions is used as legal tenderThe use of protomoney dates back to at least 100 , 000BC (Davies , 2002 . Trading in red chromatic (pigment made from naturally tinted clay ) is attested in Switzerland from near that period and ochre seems to have functioned as a protomoney in Aboriginal Australia . Shell je haleery in the form of form string had served as good with the basic attributes needed for premature money . Before the metallic age , shell or bone jewellery w ere the most divisible , easily storable and negotiable , scarce and hard to counterfeit objects that could be made . Many instances when money was objects used for their intrinsic values as well as their monetary properties and called commodity money This included weightlift nails , pigs , rare sea shells , whale s teeth and often oxen . At about 1200 B .C . in China , cowrie shells became the first medium of exchange , or money . The cowrie has served as money throughout history even to the substance of this ascorbic acid . In medieval Iraq , bread was used as an early form of...If you want to get a honest essay, parliamentary procedure it on our website: BestEssayCheap.com

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