Payments History

In the beginnings of polish, there was still no payments system as we have now, however, there already existed the necessity of trade. Thus, people fully the barter, which was a simple exchange of goods for goods, without equivalent cheer. Since there was no measure of value to compare the goods, the exchange began to rely on goods that were most useful and frequently requested, like cattle and salt. In addition, considering the Brazilian context, the most utilize goods were redwood, sugar, cocoa, tobacco and cloth. All in all, such goods began to be used as come acrosss in give voice to evaluate the goods of the barter. In reason of the perishability and of the limitations of transport, fractionation and accumulation of the goods, this kind-hearted of coin became inconvenient to commercial transactions. At that same time, the civilization discovered the admixtures. Since those metals were rare and able to overcome all of the lively limitations of the use of goods as currency, the metals became the major currency on payments. At this point, the prototypal coins with characteristics similar to those used today were minted. Indeed the value of the coin was assigned according to the weight and the rarity of metal used on its confection, gold being the most valuable, followed by silvery and bronze.

This minting of coins in gold and silver began in the seventh atomic number 6 BC and remained for many centuries until the emergence of paper funds. idea money originated as a admit that was delivered by the goldsmiths, who was a assort of bank that held the coins for people. In possessio n of that put across, it was possible to r! ecognize payments in commercial transactions transferring the receipt. The new holder of the receipt could thusly go to goldsmiths and remove the coins or pass on the receipt in another transaction. With the advent of paper money, the minting of coins was restricted to pass up values with metals of lower intrinsic value. Thus, the currency started to transmit through...If you necessity to get a full essay, order it on our website: OrderCustomPaper.com

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