Posted by: crisdiaz24 | November 27, 2008

THE HISTORY OF MONEY

THE HISTORY OF MONEY

In the Beginning, Barter


Barter is the exchange of resources or services ________________ mutual advantage, and may date ________________ to the beginning of humankind. Some would ________________ argue that it’s not purely a human activity; plants and animals have been bartering—in symbiotic relationships—for millions of years. In any case, barter ________________ humans certainly pre-dates the use of money. Today individuals, organisations, and governments ________________ use, and often prefer, barter as a form of exchange of goods and services.


9,000—6,000 BC, Cattle


Cattle, which include _________________ from cows to sheep and to camels, are the first and oldest form of money. ________________ the advent of agriculture came the use of grain and ________________ vegetable or plant products as a standard form of barter in many cultures.


1,200 BC, Cowrie Shells


The first use of cowries, the shell of a mollusc that was widely available in the shallow waters of the Pacific and Indian Oceans, took place in China. Historically, many societies have used cowries as money, and ________________ as recently as the middle of this century, cowries have been used in some parts of Africa. The cowrie is the ________________ widely and longest used currency in history.


1,000 BC, 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 ________________ of the earliest forms of metal coins. Metal tool money, such as knife and spade monies, was also ________________ used in China. These early metal monies developed ________________ primitive versions of round coins. Chinese coins were made out of base metals, often containing holes ________________ they could be put together like a chain.

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