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History of Money

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History of Money

  1. 1. Not what you were thinking?
  2. 2. Or not.
  3. 3. China was the first to use paper money.
  4. 4. Paper money is considered to be representation money.
  5. 5. This means the money itself is not made of something valuable.
  6. 6. This created the gold standard.
  7. 7. Representation money has now been replaced by fiat money.
  8. 8. That is your third strike.
  9. 9. But don’t leave.
  10. 10. Fiat is the Latin word for "let it be done".
  11. 11. Money is now given value by a government fiat, meaning enforceable legal tender laws.
  12. 12. March 10, 1862
  13. 13. You don’t know? Neither does anyone else!
  14. 14. A study of old manuscripts showed that the "S," gradually came to be written over the "P," looking very much like the “$" mark.
  15. 15. What does the future hold for money?
  16. 16. Just think if salt was in it instead.
  17. 17. Reference The History of Money by Mary Bellis http://inventors.about.com/od/mstartinventions/a/money.htm