When emerged Banknotes?

Evolved currencies through the ages in the march counted in the hundreds or even thousands of years, as we have seen in previous topics, and have had several forms Vibtdot of commodity exchange of goods (barter) then Ttorat to the exchange of goods are the finest little bit to take some of the goods as commodities record measured by other commodities, and then evolved conditions later to take the precious metals such as gold and silver as money, and finally Banknotes currently in place, checks and other forms of paper currency, and is still in the development towards the use of modern methods of trading such as cash, plastic and electronic money, and others.

 

Studies show the historical to China was the first country to print paper currency, in the era of the Tang Dynasty (618 AD - 907 AD), was the first idea for the emergence of paper currency has generated among traders who move from one country to another, carrying their money gold and silver with them were susceptible to loss and theft Fastaadoa, by written documents to prove the amount of their property, was the alternative paper represents the primitive coin (gold and silver) and the certificate holder's ability to pay the amount that is installed on board.

That was Kalorqh paid to the merchant who bought him the goods, which in turn can receive the amount that is installed on the paper of the person depositor has money merchant buyer, then the evolution of the use of these securities became possible to be paid to any seller or buyer is a trader to be the final authority to arrest is Center where the depositor money. Money has not arrived to Europe, but in the fourteenth century, and did not evolve into what looks like her current job only in the seventeenth century. Was the first European bank to issue a paper currency is the Bank of Stockholm in 1660, but it failed in 1664 AD, in the fulfillment of the payment of the value of all of the issued Banknotes gold, declared bankruptcy in that year. In 1669, Bank of Scotland began issuing paper currency, and remains even now, after more than 300 years, doing the job successfully, becoming the bank that issued Banknotes for the longest time without stopping.

 

In the year 1660, issued paper currency for the first time in America, in the Bay Colony Massachusetts (one of the thirteen colonies that make up America at the time), but the paper currency was issued by banks in particular, which led some to reject the receipt of certain currencies issued by some banks that do not trust them, but has been receiving some other currencies undervalued for the same reason. In the year 1776 (after independence from Britain), the central bank began issuing money (the dollar), but these coins were not covered with gold, (legal tender), which did not encourage people to deal with. But the law passed by Congress, was to criminalize anyone who does not accept the U.S. dollar as the currency of the enemy as the fledgling nation. This confidence did not last long, costs of the War of Independence forced the government to print currency dramatically, causing massive inflation the dollar lose its value, that bind to gold and silver in the year 1789, at the hands of Alexander Hamilton. This situation continued until 1860, when civil war forced the U.S. government to print large amounts of money, which were not covered by any of the metals (gold or silver). The currency was printed at the time, is the first currency gained green color which is famous for its U.S. dollar currently. Hyperinflation made the U.S. government re-linking the dollar Palmadnin in the year 1879. Then re-disengagement dollar gold temporarily in 1933, by President Franklin D. Roosevelt to get rid of the effects of the Great Depression, has been linked again in the following year directly, but modifying large in the dollar, as well as the prevention of the American people, to replace the dollar gold or silver (or even retain large quantities of gold or silver), and he was entitled to foreign governments only replacing the dollar with any of the miners. In 1971, President Nixon's re-disengagement dollar gold and the dollar remained since 1971, and so far not linked to gold.

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