HISTORY OF MONEY

 

History of Irish Word Moolah

In the Beginning: Barter

Barter is the exchange of resources or services for mutual advantage, among humans before the use of money. Today individuals, organizations, and governments still use, and often prefer, barter as a form of exchange of goods and services.

9000 - 6000 B.C.: Cattle

Cattle, cows sheep, camels, and other livestock, are the first and oldest form of money. Then came grain and other vegetable or plant products when they invented farming.

1200 B.C.: Cowrie Shells

The first use of cowries shells of a mollusk from the Pacific and Indian Oceans, was in China. 

1000 B.C.: First Metal Money and Coins

Bronze and Copper cowrie imitations were manufactured by China at the end of the Stone Age and could be considered some of the earliest forms of metal coins. Metal tool money, such as knife and spade monies, was also first used in China. These early metal monies developed into primitive versions of round coins. Chinese coins were made out of base metals, often containing holes so they could be put together like a chain.

500 B.C.: Modern Coinage

Outside of China, the first coins developed out of lumps of silver. They were stamped with various gods and emperors to mark their authenticity. These early coins first appeared in Lydia, which is part of present-day Turkey, but the techniques were quickly copied and further refined by the Greek, Persian, Macedonian, and later the Roman empires. These new coins were made from precious metals such as silver, bronze, and gold, which had more inherent value.

118 B.C.: Leather Money

Leather money was used in China in the form of one-foot-square pieces of white deerskin with colorful borders. This could be considered the first documented type of banknote.

A.D. 200 40 maps that explain the world Washington Post 8/12/13

1. A political map of the world, circa 200 A.D.
Maps can be a remarkably powerful tool for understanding the world and how it works, but they show only what you ask them to. So when we saw a post sweeping the Web titled “40 maps they didn’t teach you in school,” one of which happens to be a WorldViews original, I thought we might be able to contribute our own collection. Some of these are pretty nerdy, but I think they’re no less fascinating and easily understandable. 

A.D. 800 - 900: The Nose

The phrase "To pay through the nose" comes from Danes in Ireland, who slit the noses of those who were remiss in paying the Danish poll tax.

A.D. 800​

CHARLEMAGNE, or CHARLES THE GREAT, was born in 742, succeeded his father Pepin as king of the Franks in 768, was crowned emperor of the Romans in 800, and died in 814 after an eventful and beneficent reign of forty-six years.​ He was responsible for creating modern Western Europe as we know it today by invading then conquering everybody. He did it for wealth, power, and Jesus. He conquered the Vatican and became the Pope. His soldiers were Jesuit monks and missionaries. The Missionaries are Soldiers sent to convert people and to insure a steady business stream of revenue called tyeths from the people.

Less sophisticated countries who didn't have banks used Trading

 

A.D.806: Paper Currency

The first known paper banknotes appeared in China. In all, China experienced over 500 years of early paper money, spanning from the ninth through the fifteenth century. Over this period, paper notes grew in production to the point that their value rapidly depreciated and inflation soared. Then beginning in 1455, the use of paper money in China disappeared for several hundred years. This was still many years before paper currency would reappear in Europe, and three centuries before it was considered common.

History of Potlach

1500: Potlach

"Potlach" comes from a Chinook Indian custom that existed in many North American Indian cultures. It is a ceremony where not only were gifts exchanged, but dances, feasts, and other public rituals were performed. In some instances potlach was a form of initiation into secret tribal societies. Because the exchange of gifts was so important in establishing a leader's social rank, potlach often spiralled out of control as the gifts became progressively more lavish and tribes put on larger and grander feasts and celebrations in an attempt to out-do each other.

1535: Wampum

The earliest known use of wampum, which are strings of beads made from clam shells, was by North American Indians in 1535. Wampum are traditional, sacred shell beads of Eastern Woodlands tribes. They include the white shell beads fashioned from the North Atlantic channeled whelk shell; and the white and purple beads made from the quahog, or Western North Atlantic hard-shelled clam. Woven belts of wampum have been created to commemorate treaties or historical events, and for exchange in personal social transactions, such as marriages. In colonial North America, European colonists often used wampum as currency for trading with Native Americans. Most likely, this monetary medium existed well before this date. The Indian word "wampum" means white, which was the color of the beads. Upon discovering the importance of wampum as a unit of exchange among tribes, Dutch colonists mass-produced wampum in workshops. John Campbell established such a factory in Passaic, New Jersey, which manufactured wampum into the early 20th century.

Q: Why top using silver as the standard and switch to gold?

A: after the English spent all their silver buying opium, silk, tea, and porcelain from China they were broke. So in order to come up with something else instead they turned to gold as wealth!

 

 

Today, currency continues to change and develop, as evidenced by the new electronic money called bitcoin.
 

MORE ABOUT TRADING

Banko means Table and and the etymology of the word Bank comes from traders sitting at the table making deals. People learned to be Traders. They went to the Market Place, sat at a table and made deals with others trading goods. That is how the gambling game called Banko got it's name.