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Change over Time Currency Diana
Transcript of Change over Time Currency Diana
Ms. Margot's Class
February 24, 2014
Thousands of years ago people didn't
have currency to buy things so they
used to barter or (trade). They had to
trade something valuable, important.
There were some problems in bartering
the problems were that some items
didn't last long, lacked value and
sometimes were very heavy to carry.
Each Culture had different currency.
the currency had this characteristics ... It had to be light so people could carry it easily. It had to be valuable worth something to trade it. It had to be rare (unusual) and finally it could sometimes be hard to find. People then mostly traded shells, feathers, stones or salt.
Roman soldiers used to trade salt and Native Americans traded eagle feathers.
Coins were mostly precious metals. they were rare, easily shaped and then weighed.
Coins were hard to minte (produce). 2,600 years ago they were gold and silver but were not nice and round like today they were rough and crude they weren't even. They all weighed differently and had a different size and shape. Coins were made in the middle East. coins were later pure gold or silver. The early europeans had symbols on their coins like gods and rulers they also said when where and by whom the coin was minted. Chinese coins had holes in them to carry, were made out of melted copper and stamped with worth or value.
T'sai Lun Invented paper 1,900 years ago. Used 700 years later, when China ran out of copper to make coins. They had to make paper money by hand they stamped wooden blocks covered in ink on the paper. anyway coins were still available. 1400 years later Johanes gutenberg in europe invented a machine to print paper money so people didn't have to make it by hand.
Invisible money are checks. Banks keep track of the money saved. Debit cards are are for taking cash out of bank accounts. And finnally credit cards are for borrowing money, after that, you have to pay the interest. The longer you take to pay the longer the interest gets.