istory of money
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o After 600 BC gold and silver coins spread through the city states of Greece o As Athens grew in power and wealth, its beautiful coins of silver from the mines of Laurion became widely used. o They were called "owls of Minerva" because they pictured an owl on one side. o Minerva was the Roman name for the Greek goddess Athene. o As ancient Rome expanded its rule over the whole of Italy and Greece and most of the then-known world, it became much richer than Greece had been. o The Romans developed a sophisticated banking system, linked to the network of tax collectors throughout the Roman Empire. o Some Roman citizens became as rich as today's multibillionaires.
Providing society with money.
o Money can be created in various ways. o Rulers have minted it as coins for themselves to spend. Banke have created it to lend to their customers, either as banknotes simply by writing it into their customers accounts as ,,credit” o And members of local groups can themselves create money in "alternative" currencies in exchange for goods and services provided by other members of their group. o Rulers were able to increase their profits by reducing the value the gold or silver contained in the coins. o This was known as "debasing the coinage" and Henry VIII of England (1509-1547) did it o He made everyone exchange their silver coins for new copper coins, covered with a thin surface of silver to make them look genuine. o Debasing the currency has been one way of deceiving people money. o Other tricks became more important as paper money and electronic money became more important than coins.
Birth of coins...
and years after people in China used bronze and copper copies RESEARCH POSTER PRESENTATION DESIGN © 2015
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Trade,banking and paper mone