Origins Of Money And Banking

IntroductionHistory of banking is closely related to history of coin . As monetary payments became important pile looked for ways to safely store their flamboyant and merchants looked for ways to borrow bills to fund expeditions The word ` notes originated from the Latin word Moneta which comes from the temple of Juno (Hera , the Moneta where the Roman coin came change in the archeozoic days of Rome . Money is define as any good or token or an abstract that functions as a medium of replacement that is socially and legally accepted in payment for goods and operate and in block 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 mount up of money are thought to encourage handle and piece of labor , in turn increasing productivity and wealthiness . currency is the most common type of bodily money today . However goods such as halcyon or silver retain numerous of money s substantial properties . The practice of goods and services of money makes all commodities become to a greater extent liquid (Davies , 2002History of money : Spans thousands of years and money itself must be a infrequent good . The first people didn t debase goods from other people with money . They utilise barter . deal is the exchange of personalized possessions of value for other goods that you requisite . This amiable of exchange started at the beginning of humankind and is still utilize today . From 9 ,000-6 ,000 B .C , livestock was often use as a unit of exchange . Later , as agriculture certain , people used crops for barter .

to a greater extent items have been used as money ranging from naturally peculiar precious metals and conch shells through cigarettes to entirely artificial money such asNAME Money and bankingbank strains (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 authenticated 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 fibre attributes needed for early money . Before the metallic age , shell or ivory jewellery were the most dissociable , easily sto rable 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 , track down 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 passim history even to the mettle of this century . In mediaeval 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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