History of money
-
Upload
worthingtonch -
Category
Documents
-
view
2.936 -
download
5
description
Transcript of History of money
History Of Money
By Charlotte Worthington
Barter and Commodities
• Bartering and commodities were the first way of exchange. Bartering was an exchange of goods or services.
• Commodities was the basic term of money and things like tea, tobacco, salt, cattle and seeds were used for the exchange.
Shells
• In 1200B.C China cowry shells were used as the form of money.
The First Metal Money
• In China around 1000B.C. people handed in metal tools like knives and spade to make metal circles and they used that as money.
• The money had holes in the middle so that they could be put on a chain and be carried around the neck.
Silver
• This was used in 500B.C. in Turkey. They were imprinted with the faces of emperors and gods to show the value.
• Other metals started being used such as bronze and gold.
Leather
• In China during 118B.C. leather was used as banknotes.
• They were made form deerskin.
Noses
• “To pay through the nose” is a common saying used. It originally came from when the Danes cut off the noses of the people who wouldn’t pay their tax.
• This happened during the ninth century.
Paper Money• China was the first country to have paper
money during the timeline of ninth century to the fifteenth century.
• In 1455 the money disappeared from China and Europeans still didn’t have knowledge of paper money.
Gold
• In 1816 England decided that the value of the gold related to how much it weighed (in ounces). This stopped inflation of the currency.
• In 1900 the U.S. joined onto the idea.
Today
• Money had changed over the years and today we have coins and paper notes. Countries like England and the U.S. have started changing the appearance of some notes.
• Value has also started to change.
Past Present
Tomorrow
• In the future I think that coins and notes will be taken over by cards or even better microchips in jewelry that can just be scanned.