by Sachin
Thomas A
Jacob (Sachin)
D P S Sharjah - XII
( S/o Jacob A Thomas 1983
E)
Dinesh: Good evening Dad!
Dad: Hi son! How was your GK Quiz today?
Dinesh: Not so good. Most of the
questions were on the history of money! I just don’t enjoy understanding
money!
Dad:
But the History of Money is a very interesting topic to know
about!
The story of money spans back thousands of years before even
ALEXANDER THE GREAT! Long before, in the kingdom of Quasiland, the
people asked the King to develop some way of purchasing things for themselves.
The
King quickly called a meeting with his ministers who after long days of thinking
came up with the Barter System. The Barter System was a form of exchange where
one good was given in place of another, e.g. a cow for a kilo of wheat.
This system was in use for quite some time before the people of
those ages could take it no longer! True the system was useful but it had a lot
of flaws, e.g. for half a kg of wheat/rice, people could not give half a cow
without killing it! It was also difficult to find someone who had what you
wanted and was ready to take what you have. So you see, it was exchanged on
mutual agreement.
The
king now an old man was very angry. His ministers were useless in his eyes. In
order to have a common basis, the Prime Minister suggested that the traders
start using pebbles and stones. This soon changed as the King came up with new
idea of having precious metals like Gold, Silver and Copper in the form of coins
in place of useless stones. His minister even suggested that the King have his
face made on the coins. This made the king even happier.
This was a popular method until the late 1800s. People once
again realized that though this method was useful, it was the main reason they
were getting hurt. Because in order to get their hands on these precious metals,
thieves and robbers used beat up travellers along lonely roads. These coins also
could not be carried around in large numbers.
The
King now a VERY old man again thought of a new idea. Soon came into life Money
as we know it in; NOTES. All the people quickly adapted to it and were very
happy. The King too was happy as he could still have his face on it. In fact it
was the easiest thing to carry. Easier than their own clothes and
shoe!
Then
towards the mid 1900s plastic money, i.e.; credit cards and debit cards started
emerging. But the king was not very happy with it because he could not have his
face on it but he saw its popularity and approved of it.
So you see my son,
it’s important to how money changed in the world we live in. Now you know that
the money you take for granted has undergone so many changes for the world’s
convenience!
Thomas A
Jacob
