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Short note on the historical development of money
The development of money
Short note on the historical development of money
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Money Past and Present.
Money as a medium of exchange in barter and trade has always in all times found expression in some form or other from necessity thereof. In the remotest periods, before gold or silver were generally in use, it took the form of animals, oxen, sheep, lambs, shells, etc. Thus we find used cattle in Germany, leather in Rome, sugar in the West Indies, shells in Siam, lead in Burmah, platinum in Russia, tin in Great Britain, iron and nails in Scotland, brass in China, and finally copper, silver and gold the world over.
If we look up the sacred writings in quest of the earliest use of money quoted therein, we will find that the Bible mentions gold as a medium of value in the very first book of Moses which according to modern synchronology, would be about 4,000 years before the time of Christ, or almost 6,000 years ago. Namely, Genesis, Chapter II, 10, 11, 12. And a river went out of Eden, and the land of Haviliah, where there is gold and the gold of that land is good. Hence Adam and Eve could have found gold in Haviliah just the same as we do in the Yukon today. Immediately thereafter brass and iron are mentioned, Genesis, Chapter IV, 22. And Zillah she bare Tubal-Cain an instructor of every artificer in brass and iron. Tubal-Cain, son of Iamech, a descendant of Cain, apparently was the first man to shape metals into articles of use and probably our very first goldsmith and jeweler.
Silver is first mentioned in the Bible in the time of Abram, Genesis, Chapter XIII, 2, Abram was very rich in cattle, in silver and gold. The earliest mention of the word money occurs in Genesis, Chapter XVII, 12, 13, 23, He that is born in the house or bought with money. The first use of earrings and bracelets appears in Genesi...
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...uctions are from photographs of the original coins and are fully explained as to their metal, denomination, country, etc., by the description printed with each plate.
This, then, is the story of money -- how it came to be -- what it is today.
BIBLIOGRAPHY.
Bressett, K.1991. Collectible American Coins. Publication International, Ltd., Lincolnwood, IL.
Genesis, 1971. Ch. II, 10, 11, 13; Ch. XXIV, 22, 30; Ch. IV, 22; Ch. XIII, 2, Ch. VII, 22, in The Holy Bible, Revised Standard Version. Teaneck, NJ: Collins/Cokesbury.
Mehl, M, 2004. A History Of Money. The Star Rare Coin Encyclopedia and Premium Catalog. The Numismatic Company of Texas, Fort Worth, Texas.
Seidler, N., 1965. The Story of Money. Western Publishing Company, INC., USA.
Yeoman, R., 2003. A Guide Book of US Coins. Whitman Publishing, LLC., Atlanta, GA.
http://www.mfa.org/handbook/classic
With differing economies and the growth of specie and paper money, Brands argues that the basis of knowledge about the money system of this time lays a foundation for how Carnegie, Rockefeller, and others were able to manipulate the market and gain wealth. Leading into price manipulation by those in corporate
world began to use this item as a means of currency. Leading in the production of this element
Holy Bible: King James Version. Nashville: World Publishing. : published in 1611. (Genesis 4:2-5) http://www.biblestudy.org/question/why-did-god-reject-cain.html
Coogan, Michael David., Marc Zvi. Brettler, Carol A. Newsom, and Pheme Perkins. "Genesis." The New Oxford Annotated Bible: With the Apocrypha. New York: Oxford UP, 2010. Print.
Today, it's believed the first coins used and were bronze in West Valley City, around 20017. Coins were employed by Lydia in Asia Minor. The coins of the Lydian were termed "starters" that was a unit of weight. Entrepreneurs were placed having a lion's mind impression and made out of silver and gold metal. Nowadays, as you may think, the coins which can be still outstanding are very useful.
This process of electing a president is unjust and is not based off of the people’s views. In Document D the chart provided illustrates how some of the electoral votes favor some states over others; for example the twelve states listed and the district of Columbia seem to have a bigger say in the presidential election process than the citizens of Illinois. This itself is unfair because Illinois deserves to have an accurate representation of their votes, the same as other states do. This shows that the Electoral College undercuts the principle of one person, one vote, and therefore violates political equality. “It is not a neutral counting device... it favors some citizens over others, depending solely upon the state in which voters cast their votes for president” (Document D). Political equality means all citizens are equal and it also allows citizens to partake in state affairs, including the right to vote and the right to challenge elections. However the Electoral College violates the principle of this for the fact that it weighs some citizens’ votes more heavily than others (video). Generally it makes no sense for the people to vote if they’re not even counted, and either way it violates their rights.
Book of Genesis in the Old Testament or from the Hebrew Torah. What may be less familiar to
Conversion to modern worth: Lawrence H. Officer and Samuel H. Williamson. « Purchasing Power of Money in the United States from 1774 to 2010 » MeasuringWorth. 2011.
Money has evolved with the times and is a reflection of the progress of man. Early money was a physical commodity, grain, gold or silver. During the vital stage, more symbolic forms of money such as certificates of deposit, bank notes, checks, letters of credit, bonds and other forms of negotiable securities came into prominence. Social development transformed money into a trust, “In God We Trust' it says on the back of the ten-dollar bill.” (The Ascent of Money, 27)
Franz Delitzsch, A New Commentary on Genesis: Vol. I (New York: Scribner & Welford, 1889), p. 409.
The gold that was used to make jewelry in Egyptian times was not scarce like it is in present day. Mines between the Nile River and Red Sea coast yielded large quantities of this precious metal. They also imported precious stones from the Sinai Peninsula and even Afghanistan. The Egyptians, however, had no knowledge of the gemstones and jewels we have today, such as diamonds, emeralds, and rubies.
Despite of its uselessness, gold is known to be expensive. The reasons are quite simple: because gold is rarely found, gold cannot be created and most importantly is it is shiny and does not oxidize. Gold hence is widely used as jewelry and other representative uses. In addition to that, the overgrowing demand for jewelry and the rareness of gold hence determined its price. In return, gold is assumed as the ideal store of wealth for its high price.
In the beginning of the human kind, there was no money. The only way to get what you want is to trade what you have for it. This system is called bartering. Sometimes, you will find a person who is willing to exchange your goods. However, most of the time, it is really difficult to find the person who is willing to trade with you. Since, you desperately need to exchange, you will need to travel the whole day until you meet the right person. In this type of situation, it will take a lot of time to find the person who wants to trade with your goods. Economists defined this kind of issue as transaction costs. It is the time and effort people spend before they can exchange their goods. In barter economy, the transaction costs are incredibly high. Another major drawback of barter system is that people cannot measure the value of goods. This usually leads to conflicts since people have to make unequal exchanges. In order to reduce transaction costs and conflicts, people developed commodity money.
Silver trading in the Americas started in the 1500’s when Europeans exchanged personal items including silver for fur pelts with the Native American tribes. During these times, the natives live off the land and have no knowledge about silver value. However, they liked the shape and designs of the silver jewelries, brooches, and pins that they prefer them for trade. Eventually it became the medium for the fur trade.
These styles result in job satisfaction for the employees. Encourage participation in the decision-making process as well creative solutions from employees. They also help in building strong teams. Goals are communicated clearly in these styles. Such leaders also try to align employee’s personal goals with the organizational goals. One of the good traits of these leadership styles is the ability to channelize the energy of the employees towards the goal of the organization. In my view, the above three leadership styles would definitely contribute positively to an organization’s productivity and