From history of money

From history of money

From history of money

Today it is not established, when there was first money. However to the most ancient mention of them more than 4500 years. The Klinopisny text found on a clay tablet from Iraq, speaks about somebody payment in the form of the caused measure of silver. A bit later in the majority of the ancient states the metal having a certain weight or a measure, began to carry out function of money. It also led to emergence of first-ever coins.

So, what represented the first coins and when they were made? Our ancestors called coins the metal plates containing drawing. Their emergence is dated the seventh eyelid B.C. There were they in Asia Minor, namely in a kingdom Lydia which nowadays is the territory of Turkey. The first coins were from electro, that is, a natural alloy of silver and gold. To confirm a certain weight of a coin, on it drawing was stamped. The rapped-out drawing played a role of the press confirming accuracy of weight of a coin with the governor. Very often on coins represented that place where they were made. Experience of manufacturing of coins appeared pretty successful and soon extended to all Europe. China became the first country which started to make iron coins.

The first paper money in 910 China also began to make. Mass release of money from such material, as paper then began. Then banknotes were simply sheets of paper, were equated to money as replaced in a turn the real money. At the beginning of the eleventh century Chinese replaced coins of small advantage with paper receipts.

In 1156 the first official contract between the Genoa merchants and Byzantium about exchange rates of currencies was signed. Menyala which specialized on a currency exchange, made by the different countries, operated everywhere. In the twelfth century various banking houses were already open.

And the history of money which we see today began and we hold.

If you are involved also by money, pay attention to a school of accountancy from scratch. They will help you to be guided with modern financial operations and financial position of society.

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