History of money

History of money

Money is an important thing of our life. But its history is known all of the men. We can try to known you its history.

Money has always fascinated mankind from the time of Aristotle to the present day. Aristotle observed that man is social being and establish certain norms and regulations for their social interaction. Men employed money as a mode of exchange to facilitate such social dealings from their economical aspect.
In the primitive societies, when people wanted to buy anything they had to give something else in exchange for it. For example, if a potter wanted to buy rice from a farmer, he offered him earthenware pots in exchange. The farmer would accept them because the needed pots. This was called the barter system could not meet the growing demands of a convenient exchange system for buying and selling. People started using token or symbolic goods in exchange all over the world. American Indians used beads of shells. Fijians used whales teeth and North American used tobacco in their exchange system. The Roman army men where provided slat for their services.
As per the available sources, the earliest coins date back to about 700 B.C. When stamped pieces of metal were used as a medium of exchange by Lydians who lived in Asia. Coins were preferred because they were easy to carry and durable. Coins where mostly made of gold, silver and copper because the were precious and durable. People accept a coin or currency in payment not because they value the coin itself but because they have confidence in the authority that has issued them. As coins are heavy and bulky so larger payments are in paper money issued by the proper legal authory.
So you can imagine the money history. At this moment we use the money system is not easy able to fast. Day by day it increases is important and use ness.