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Historical development of money

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@iyiade
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Money is originated as a result of the various problems and difficulties that arose from trade by barter. In the olden days different commodity served as money in different countries. cartoons cowrie shells tobacco salt and beads were used as medium of exchange or commodity money in one period or another. Later, precious stones like silver and gold were used. The amount of metalware weighed out whenever a payment was to be made. with time the methods were caught in two pieces of definite weight and so conserve limited face value where issued. the use of paper money was originated from the use of receipt issued by Goldsmith in exchange for deposit of gold and other precious metal. The receipt became bank note and the gold Smith became bankers. In recent times people started accepting inconvertible paper money as medium of exchange. over the years different form of money have been introduced to facilitate exchange like dollars euros naira rupees and so on. For anything to serve as money,it must enjoy people's confidence and legal banking