History of money. Money: history of origin

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Money is the universal equivalent of the value of goods and services, which is part of the financial system of each country. Before adopting a modern look, they went through a centuries-old evolution. In this review, you will learn about the history of the first money, what stages it went through and how it changed over time.

How did money come about?

Market relations began to take shape as early as the 7th-8th millennium BC. At that time, primitive people exchanged excess products with each other, and the proportions were established depending on the circumstances. With the advent of the social division of labor, barter gradually became uncomfortable, and our ancestors began to use various objects as money.

In Russia, furs of fur-bearing animals were used as a means of payment, in Ancient Greece - large and small livestock: sheep, horses, bulls. In ancient India, China, on the east coast of Africa and the Philippine Islands - shells collected on a string. In the time of Julius Caesar, slaves were used for this purpose. The people of Brazil used flamingo feathers as their currency. In Melanesia, pork tails were used, and in Spar- stone cobblestones. In some countries, human skulls were the means of payment.

First money conversion

Gradually, some types of currencies were replaced by others, regardless of the will of the people. During the period of wars and revolutions there was a massive regression. In Belarus, the Germans gave a kilogram of s alt for the head of a partisan, considering this product to be very expensive. Later, different types of metals were used as money: copper, tin, lead, iron. In ancient Greece, iron bars were considered the best medium of exchange. Now the question arises of how money changed further.

The history of the emergence of money informs us that gold and silver metals soon became the universal value equivalent, taking the form of jewelry. At that time, they were more in line with the ideal and were aesthetically attractive, so they instantly replaced other forms of money. In the XIII century BC. they began to be divided into bars of a certain mass. It was then that the first weight units appeared. It turned out to be very convenient to weigh the golden sand, which for a long time performed the function of circulation in India, China, Egypt and other countries.

Beginning of coin production

With the further development of market relations, people minted coins of various shapes, of which the round one became the most practical. Alexander the Great was the first to create his image on it - the history of money tells us about this.

Money from a natural alloy (silver and gold) appeared in the 7th century BCAD in the state of Lydia, located in Western Asia. Turkey is there now. Coins have become the best medium of exchange due to compliance with the established requirements:

• compact;
• strength;
• durability;
• water and fire resistance;
• lack of opportunity to create a fake;
• easy to create sample denominations;
• rarity.

Decades later, in the Greek city of Aegina, they began to create silver coins that differ in shape from the Lydian ones. Gradually, the innovation spread around the world.

The emergence of paper money

There are several versions of how paper money originated. History tells us that in the 1st century BC. scraps of skin were the medium of exchange. In China, white deer skins and tree bark were used for these purposes with special markings. According to another version, the early form of banknotes appeared due to the opening of vaults for the exchange of metals for a receipt.

Designed by John Law, the first banknotes were issued in France in 1716. This is what provoked the mass production of paper money. At the end of the 17th century, they appeared in the USA, in the middle of the 18th century - in Prussia and Austria, and at the end - in France. By the time of the First World War, they had spread to all countries.

Development of the Russian monetary system

The history of money in Russia goes into the distant past. First moneycame to us from the Arab countries in the 19th century BC. and were called dirhams. Gold and silver were a means of payment back in Kievan Rus, during the reign of Prince Vladimir Svyatoslavich (end of X beginning of XI century).

The word "coin" entered the Russian language only during the reign of Peter the Great. It was then that our ancestors began to actively look for gold, but found only in small quantities during the processing of silver ores. The source was discovered in 1745 at the Kolyvano-Voskresensky mines. The history of money in Russia is inseparable from the events of the state itself. For example, on the occasion of the beginning of the use of gold, a commemorative coin worth 5 rubles was created with the inscription “From Rozs. Kolyv.”

Monetary policy in the USSR

Gold monometallism existed in our country until 1914. After the outbreak of the First World War, banknotes were issued to cover the deficit of the state budget, which could not be exchanged for the precious metal. All types of coins completely went out of circulation, remaining the property of the population, but in Soviet times they again became a means of exchange. In 1922-1944, silver items (denominations of 10, 15, 50 kopecks, 1 ruble) and copper (1, 2, 3 and 5 kopecks) were produced. The government of the USSR introduced a monetary program and, finally, the history of money continued to develop in our country.

Money from gold, copper and silver was made from a metal that was in short supply. This was discussed back in 1910-1911, when the Ministry of Finance and the Mint developed a system for replacing expensivematerials for nickel alloys. Then they began to produce the first products from nickel, but due to military operations and the revolution, the work was stopped. In this regard, in the second half of the 1920s, a bronze and copper-nickel alloy was chosen to make new money. The history of money was supplemented by a new event: a trial minting of coins with a new composition (nominal value from 10 to 20 kopecks) was carried out, which spread by the end of 1931. It was then that the types of materials used today for the manufacture of Russian money were determined.

Evolution of banknotes in Russia

The first paper banknotes appeared under the rule of the Russian Empress Catherine II in 1769. They were very similar to bank receipts and were used to pay the salaries of officials. Although the bills were watermarked, numbered and texted, the print quality was poor, so counterfeiters were comfortable counterfeiting them. It was necessary to replace all issued banknotes with more reliable ones, which is why the history of money changed again after the war with Napoleon.

Money of a new type appeared in 1818. They were decorated with ornaments in the Empire style and engravings. The year 1897 is characterized by the stability of the financial system, because paper money was easily exchanged for gold coins.

New banknote production technologies in Russia

From the middle of the 19th century, metallographic printing from engraving was used, which became the basis of modern bank printing. At the end of the period under review, the first device was constructedOryol Printing, which produces bright banknotes. This technology is still used today because it does not allow counterfeit money.

The history of the emergence of money tells us that the first 500-ruble banknotes with the image of Peter the Great and 100-ruble banknotes with a photograph of Catherine II appeared at the beginning of the 20th century. After the revolution and during the war, there was a discord in the financial system. During these periods, many people could create counterfeit money in unlimited quantities. This is how hyperinflation progressed and the economy of our country worsened. Vladimir Lenin carried out not only the NEP and the monetary reform, but also put into circulation chervonets, then treasury bills. Later, new banknotes were issued with additional security mechanisms.

Historical money data in Ukraine

Earlier, our ancestors used Greek coins in Ukrainian lands. Later came the money of the Roman Empire, which was used to accumulate we alth and produce jewelry. Thanks to trade relations with foreign merchants, the currency spread to Podolia, the Carpathians, Transnistria and other regions. Due to the economic and political crisis in the Roman state that arose in the 3rd century, communications were terminated. In the 5th-7th centuries, Byzantine and Arab currency entered circulation.

During the reign of Vladimir Svyatoslavovich (918-1015), the history of Ukrainian money was supplemented by a new event: they began to make the oldest coins - silver coins (weight up to 4.68 g) and golden coins (weight 4.4 g). On themapplied the image of the prince on the throne with a trident, which is a generic sign of the Rurikovich. At the end of the 11th century, the first hryvnias made of silver appeared.

In the middle of the 18th century, Ukraine was part of the Russian Empire, in connection with which its monetary system completely changed. The modification of the currency complicated the relations of the inhabitants of the former state with other countries. After the proclamation of the Ukrainian People's Republic (1917), a decision was made to introduce paper hryvnias into circulation, which became the legal national currency in 1996.

Financial policy of Great Britain and France

Pound sterling is the currency of Great Britain, used long before the formation of the state itself. In the IX-X century, 240 pence were made from it, which were called "sterling". After 400 years, gold pounds appeared in circulation. Thus, the bimetallic monetary system functioned until the end of the 18th century. The conflict with France, the First and Second World Wars greatly weakened the financial system, but over time it was restored. This is how the history of money was formed in this country.

The money currently in circulation in France is the euro. However, this was not always the case. The first paper notes appeared in 1716. During the revolution (1790) the provisional government issued assignats and mandates. Over time, they depreciated, and in 1800 Napoleon created a bank that issued francs. This currency proved to be the most stable until the outbreak of the First World War. After the restoration of the financial system, the francs againwere in circulation. In 1997, they were no longer convertible, and France switched to the euro.

Formation of credit money

Credit money appeared simultaneously with the progress in commodity production. The recipient is given a certain amount with the condition of accepting obligations to repay it within the period established by the agreement. The type of funds under consideration was created not from circulation, but from the circulation of capital. It is determined not by the gold and foreign exchange reserves of the state, but by the number of loans granted. But when and how did credit money appear?

The history of the emergence of credit funds began with bills of exchange, first created in Italy in the Middle Ages. Then there were banknotes. In the 19th and 20th centuries, checks became popular. After that, electronic money was introduced, as well as plastic cards.

Features of the loan

The borrower is given a loan if he has the ability to consistently make payments. All information about cash receipts is entered into the credit history. If a person does not fulfill his obligations, this will negatively affect his ability to take a loan in the future.

Have you encountered a similar situation? Do not be upset, because there are banks that lend money without checking your credit history. Reach out to new commercial financial institutions looking to establish themselves in the marketplace by any means necessary. Although their interest rate will be much higher, but the client caught in the late repayment of the loan has the opportunity to get a loan. Pay attention to the followingorganizations: Avangard, Zapsibkombank, Tinkoff Credit Systems, B altinvestbank.

History of "Yandex. Money"

Currently, this electronic payment system is popular. It provides financial settlements between persons who have opened accounts on it. The currency is the Russian ruble. All transactions take place in a special web interface in real time. This is how the Yandex. Money system works.

The history of the system is connected with the idea of implementing electronic money. The program began to function from 24.07.2002. The Russians immediately appreciated its advantages, and the popularity of the innovation began to grow rapidly. Gradually, it developed, and after three years, new options for working through the interface became available to users. In 2007, Yandex became the full owner of the program. Three years later, it was already working with 3,500 partners, and after some time it spread to various CIS countries. In 2012, the number of e-wallets increased.

The most important achievement for today is the ability to transfer electronic money to bank accounts and vice versa. The company is constantly working to improve the service, so users can count on the improved Yandex. Money system.

The history of money is constantly changing due to the circumstances of this or that state. Because somecountries continue to conflict with each other, there is a possibility of weakening their monetary systems. What changes will take place in the future is still difficult to predict.