modern fi about the origins of money? How di sinvented? And how will money @ inthe beginning, people exchanged goods @ and services with each other, for example, a hunter would exchange animal skins with a farmer for grain. This system, which is known #10. as barter, is as old as civiligation, but it had its disadvantages. Bartering only worked if you had something that the other person wanted, and if you could both agree on an exchange value. At some point in history 15 people started to realise that bartering was slow and impractical. What was needed was something which could be used in exchange for any article; It would make the process easier. That special thing was money. 20 Over the centuries, hundreds of different objects, such as weapons, tools and salt, were used as money. Cattle, which included cows, sheep and camels, were the oldest form of money. Ancient Mediterranean 25 societies used cattle as GuRrencY as early as 9000 BCE, With the arrival of agriculture, grain was also used in many cultures. Around shells and a few centuries later, they made 30 metal imitations of them. They also used ‘tool’ money, for example, tiny metal knives and spades. These were the earliest known ‘coins’. 8 b Oortivook page as These days, earning and spending money is an essential part of - We write cheques and use cash machines to money daily, but it hasn’t always been like this. What do we know eople trade before it was in the future? 35 produced in the 6 century 49nd throughout the civilised world, contributing greatly 50 Nowadays, you don't have to carry 1500 BCE, the Chinese started using cowrie 59 0 most likely continue to be the currency of the future. roe The first real coins were BCE by the Lydians in the western region of modern Turkey. These early coins were made of gold and silver | and they had an official stamp to gUarafteé their value. The use of coins quickly spread to Greece and Egynt to the increase of trade. | The worldwide use of paper money took a long time to develop. The first known banknotes appeared in China in 806 CE, but were abandoned in the 15” century. 45 In the 13° century, banks in Venice started giving customers pieces of paper in exchange for their gold or silver because it was safer to carry around. They could exchange these ‘cheques’ at the bank for their value in silver or gold coins at any time. cash around with you all the time because you can pay for things with a credit card, You don't need ‘to write a cheque any longer either, as you can transfer money online using e-banking, Today, the majority of financial transactions take place on the internet and ‘most money only exists as bits and bytes in a computer memory. This digital money wil 2 copy of something an advanced state of social and cultural development take out promise that something can be trusted change gradually over time a system or type of money a mark or design made by pressing something onto asurface an object that you use for making or doing things tere