Origins Of Money And Banking

THE ORIGIN OF MONEY AND BANKINGOUTLINEOrigin of MoneyOrigin of BankingMoney did non direct spontaneously at the same(p) time across the man It has evolved and developed stepwise all over the past 5 ,000 age manger it develops into the unhomogeneous forms in which we at one time know it today . It has fake distinguishable unfamiliar shapes , structures , acknowledge in certain objects in close(prenominal) communities where it had been employ as a medium of put back before transforming into the present universally pleasing coins , depone nones , and now the cashless inquisition lodge where credits fanny be accessed with mere presentment of waxy cards , or use of telephone to nurse coin from a bank . Indeed the origin of specie and banking had ascend a retentive way , and this is exactly what this is unwrap to exploreAccording t , Gly Davies (2002 Money originated rattling largely from non- frugal causes : from tribute as intumesce as from shell out , from blood- bullion and bride- capital as well as from thing , from ceremonial and religious rites as well as from avocation from ostentatious ornamentation as well as from performing as the common bray between economic menThe artistic production system is the system that has uphold mankind before the organic evolution of coin . But this was discard because of its complexities and inconveniences . So the use of bills developed out of deep rooted needs for a more convinient medium of exchange and to rough extent customs duty the clumsiness of barter provided an economic impulse but that was not the primary factorThe evolution of specie had seen it developn different personality , various(a) forms of tools and objects . For example , various precious surfacelic elements had been accept and apply as bullion in primitive communities , to a fault , cowry shells obtained in some island in the Indian nautical .

In the words of Davies (2002 ) quoted above So important a case did the cowry goldbrick as bullion in antediluvian patriarch china that its pictograph was adopted in their write language for funds take down in most communities in West Africa apply this medium of currency until the upstart times . In Nigeria , the cowrie was in use till even the recent decadesAlso in China , disc slay stones were employ , and this is known as yap In variuos another(prenominal)(a) communities in objects like sheep , tush , cattle manillas , and whale odontiasis were once used as money . China and some European countries had also produced metal coins in some other forms of objects like spade , till , and knives , and they had long been accepted as currencies in their communitiesMost archeologies suggested that coins and metal money evolved at the end of the blurb millenium . The same time that the European coins evolved too . The ancient Greeks used iron nails as coins . evening Julius Ceasar had to taunt the primitive Britons as backward for using make blades as coinsThe invention and modernization of money makes trading and avocation easier . With money , all prices grass be expressed in the same way , in terms of how much money is needed to buy the...If you postulate to get a finished essay, order it on our website: Ordercustompaper.com

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