Who invented paper money. The first paper money appeared in the ninth century in China.
Previous manifest by number № 13219 "Moscow and St. Petersburg banks" were established to exchange state banknotes.
The people hitherto were absolutely unaware of the tricky Latin word "banknote", coupled with the subject that it denoted. Simply put, Russia did not know paper money. Heavy copper and silver were circulated among the people, and more or less solid sums were usually carried by carts - a thousand rubles, for example, weighed more than sixty-two pounds, two carts were needed for transportation.
Prior to that, copper coins were mainly used in Russian trade. And gold and silver coins went mainly to cover the annual military and palace expenses.
In 1768, Count K.E. Sievers submitted a note to Catherine II, in which he argued the necessity and benefits of introducing paper banknotes in Russia. He proposed to establish a government bank with the right to issue paper money and exchange it for specie, which would be fully backed by copper. On behalf of Catherine II, Prosecutor General Prince A.A. Vyazemsky, the financial manager of the state, prepared detailed plan issue of paper money. He was also invited to use signs issued from paper - "banknotes" to cover military expenses.
Starting her reign, Catherine II understood the need for "mobility" of the currency in every sense - the lack of copper money hindered the development of the economy, and the Russian-Turkish and Russian-Polish wars that began in 1768 only increased the costs of the state.
Her deposed husband, Peter III, planned their introduction back in 1762, while the empress herself came to this decision only in 1768. Also, it is worth mentioning such a significant step in economic policy Catherine the Great, as a ban on the free exchange of silver money for copper in 1763 - this measure was an attempt to reduce inflation.
As the main reason for the introduction of banknotes, the Manifesto of December 29, 1768 indicated the need to exchange copper coins for banknotes, convenient to transportation. Banknotes of the first issue of 1769-1786. firmly entered the Russian monetary circulation. They were not required to be accepted by private individuals, but for that time their rate was very high - from 98 to 101 kopecks. silver for the ruble in banknotes, that is, they were equivalent to a silver coin.
basis monetary circulation before that, there was a silver ruble, which played the role of a universal equivalent and was provided by the price of the metal contained in it. But the productivity of domestic mines (6-7 thousand kg of silver per year) was insufficient to meet the increased requirements for the amount of money in the economy. Banknotes were also used to finance the war with Turkey.
The backwardness of the feudal economy based on the slave labor of serfs, numerous wars, the desire to intensively develop territories acquired during conquests and diplomatic victories - all this forced the state to additionally issue (issue) paper banknotes, often without security in the form of real silver or copper coins.
The first issue of banknotes consisted of 10,000 pieces with a denomination of 25 rubles, 5,000 pieces with a denomination of 50 rubles, 3,333 pieces with a denomination of 75 rubles and 2,500 pieces with a denomination of 100 rubles.
By order of the economic empress, the first Russian banknotes were made from old palace tablecloths and napkins, which in such an unusual way gave a second life in a new noble form, in the form of paper money.
At first, little paper money was issued and no care was taken to protect it. All banknotes, regardless of the denomination, were issued on the same sheets of white paper with the same inscriptions: "Love for the Fatherland" top and "Acts for the benefit of the onago"- down below. In the center of the banknote was an uncrowned double-headed eagle with outstretched wings and a chain of the Order of St. Andrew the First-Called.
Already by the middle of 1771, the craftsmen had learned to convert 25-ruble banknotes into 75-ruble banknotes, and it was decided to stop issuing 75-ruble banknotes. To further intimidate counterfeiters, the death penalty was introduced for counterfeiting money.
In addition to this misfortune, another soon arose: making sure that the people were happy to exchange awkward copper for convenient banknotes, they printed a mountain of paper money. change coins there was not enough for this mountain, and for a paper ruble they began to give sixty kopecks. The deceived population went through economic universities in practice and felt inflation much earlier than they learned this learned word.
The increased issue of banknotes, which exceeded the security, led to a fall in its rate. In 1797, the government decided to confiscate part of the banknotes put on the market; a solemn burning took place in the presence of Paul I of banknotes in the amount of 6 million rubles. Constant wars demanded emergency expenses, and by 1802 total amount banknotes from 151 million rose to 212 million rubles, which finally lowered the exchange rate of the paper ruble, the cost of banknotes depreciated by a third - 1 paper ruble was regarded as 68 copper kopecks, the fall of the ruble especially intensified during the Patriotic War of 1812.
In 1770, a decree was issued allowing banknotes to be exchanged only for copper coins. At the end of the 18th - beginning of the 19th century, the binding of banknotes to a copper coin led to a fall in the exchange rate of the latter, the emergence of a double count for silver and banknotes (for a copper coin) and to a general breakdown of the Russian monetary system
A decree of 1780 introduced a ban on the export of banknotes abroad.
In Crimea, Russian paper banknotes appeared after April 8, 1783, when Her Imperial Majesty Catherine II issued a manifesto on the annexation of Crimea, Taman and the Kuban Tatars to Russia.
And Catherine was subsequently thanked: her portrait was placed on a hundred-ruble bill, for which the people immediately called the banknote “ Katerinka". (The general appearance of the banknote was used when issuing the 100-ruble Soviet banknote of 1947)
7 interesting facts about Russian banknotes
1."Money is paper"?
The first paper money in Russia could have appeared under Elizaveta Petrovna. There was a Seven Years' War, copper was required primarily for casting cannons, and not for minting coins. But Elizaveta Petrovna was still dissuaded from the idea. Elizabeth's nephew Peter III was not lucky: he had already issued a decree "On the establishment of the State Bank", but three days before the opening of the bank there was a palace coup. Paper banknotes managed to be put into circulation by Catherine II. White paper with watermarks was produced at the Krasnoselsk paper mill. The watermark was a letter frame, which was read through the light: at the top - “love for the Fatherland”, below - “acts for the benefit of the onago”, and on the sides - “State treasury”. The corners were decorated with coats of arms of the kingdoms: Astrakhan, Moscow, Kazan and Siberia.
2. Insidious Napoleon
Until the Patriotic War of 1812, the making of banknotes remained so simple that their forgery was widely practiced. There is evidence that even the treacherous Napoleon issued fake Russian banknotes. What for? He did not want to leave his soldiers with empty wallets in Russia in case no one would give them their goods for nothing. According to legend, the French hid a machine for making fake banknotes at the Preobrazhensky cemetery in Moscow.
3. Brut ruble
A cashier named Brutus signed the banknotes of 1898-1910, including the ruble banknote. An avid gambler, Brutus lost a large amount of government money in cards in 1914, got upset and hanged himself. At the beginning of 1915 in Russia, everyone and sundry dabbled in gambling. Among superstitious players, there was an opinion that a noose or a personal item of a hanged man brings good luck in the game. Here everyone believed that the ruble signed by Brutus was “happy” and began a “hunt for a banknote”. The exchange rate of the "Brut ruble" so increased that the government had to intervene.
4. Swastika
It is no secret that the cross symbol with curved ends has long been loved in Russia, until in the 20th century it began to be used as a symbol of Nazism. In Russia, the swastika first appeared in official symbols in 1917 - when the Provisional Government issued new banknotes in denominations of 250 and 1000 rubles - the people called them Kerenka. On the 250-ruble banknote, the swastika was hidden in the center behind the eagle. It is interesting that the Buddhist “Infinity knot” also flaunted on the front side of the bill. The swastika is also present on the first Soviet banknotes - it was inherited, so to speak. stove Among the people, they have become associated with an unnecessary piece of paper, which even the last beggar on the street will not pick up.
5. Banknote in one pood of bread
1921 Famine, unbridled hyperinflation of Soviet rubles. The Kyiv Natural Union “Reason and Conscience”, headed by engineer M. Kalina, issues settlement checks “pegged” to the hardest currency in the famine years - “1 pood of bread”. “A ruble of labor is a pood of bread” - such an inscription was emblazoned on a paper check, which was supposed to mark the transition to socialism and the abolition of the monetary system. But not a single pood of grain was given out for the checks received. "Reason and conscience" soon disappeared.
6. Solovki
A lot of indignation among people in the know caused back side modern banknote of 500 rubles. It depicts the Solovetsky Monastery, the main historical and architectural landmark of the Arkhangelsk region. But the monastery on the banknote appears in a disfigured form. Half-ruined, without domes and crosses, so it was during the stay on Solovki of the special purpose camp (SLON). In addition, there are geographical discrepancies in the figure. Simply put, the artist fantasized. For the best protection, banknotes are often updated, improved, but an unsuccessful design is not touched.
7. 5000 rubles
And on the largest modern Russian banknote at 5000 rubles we see the city of Khabarovsk. On the front side there is a monument to the Governor-General of Eastern Siberia, Count Nikolai Nikolaevich Muravyov-Amursky. Nikolai Nikolaevich returned to us Amur, which was then in China. Muravyov received the title of Count of Amur for the conclusion of the contract. The reverse side of the banknote depicts the Tsar's Bridge across the Amur, called the "Amur Miracle". It was built incredibly quickly, and even in the conditions of the First World War, and then it became the longest bridge in the Old World. The banknote is protected from counterfeiting by micro-holes on the number "5000", magnetic and luminescent elements, a security gray thread, watermarks, embossed inscriptions, seven microtext strips, but it is still counterfeited more often than other banknotes.
Money is the universal equivalent of the cost of goods and services, which is part of financial system every 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, the 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 inhabitants had flamingo feathers. In Melanesia, pork tails were used, and in Spar, stone cobblestones were used. 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 salt for the head of a partisan, considering this product to be very expensive. Later they were used as money. different types metals: copper, tin, lead, iron. In ancient Greece, iron bars were considered the best remedy exchange. Now the question arises of how money changed further.
The 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 numbered and texted, the quality of the print was poor, so counterfeiters were comfortable counterfeiting them. It was necessary to replace all issued banknotes with more reliable ones, which is why after the war with Napoleon the history of money changed again.
A new type of money 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 technologies for the production of banknotes 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 Orel Printing device was designed, which produced 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 data about money in Ukraine
Previously, our ancestors used Greek coins in Ukrainian lands. Later came the money of the Roman Empire, which was used to accumulate wealth 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 ancient coins- pieces of silver (weight up to 4.68 g) and gold pieces (weight 4.4 g). They applied the image of a prince on a 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 it 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 - 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 late XVIII centuries. 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 in circulation in France today 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 were again 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 not defined gold and foreign exchange reserves state, but by the number of loans granted. But when and how did credit money appear?
History of occurrence loan 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 included in 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 contacting new commercial financial institutions seeking to gain a position in the market by any means. Although they have 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 following organizations: Avangard, Zapsibkombank, Tinkoff Credit Systems, Baltinvestbank.
History of "Yandex.Money"
This e-mail is currently payment system is popular. It provides financial settlements between persons who have opened accounts on it. The currency is 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 emergence of the system is connected with the idea of implementation 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 a while it spread to different countries CIS. In 2012, the number of electronic wallets increased.
The most important achievement 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 a particular state. As some countries continue to conflict with each other, there is a possibility that their monetary systems will weaken. What changes will take place in the future is still difficult to predict.
The exact date of the appearance of the first paper money is unknown. The primary reason for the emergence of paper means of payment was the need for long-term preservation and durability of their units. An important criterion was the ease of use of money and their ability to be divided into smaller parts. When metallic money appeared, it already became a prerequisite for the appearance of paper money. China is considered the birthplace of paper currency, where the first paper was invented. The first coins became, in the truest sense of the word, a heavy burden for their owners. Subsequently, the coins began to be stored in special institutions (prototypes of the first banking institutions) against a written receipt - "a written promise". Documents of this kind have been widely disseminated even in state level. Another reason for the transition to paper money was the acute shortage of metal associated with the development of the mining industry. In general, the need for money has been brewing for a long time, as the economy did not stand still. Thus, the first paper notes appeared. The first money came to Russia due to their rapid and wide distribution in Europe. They were used under the name "signature". With the advent of new types of money, it became necessary for the governments of advanced states to need big money.
Reasons for the emergence of interest in paper money
The appearance of paper money was accompanied by a rise in the level of development of the economies of the countries of the world. Paper money is not as durable as, for example, metal money. Their main advantage is the convenience and speed of their production, the interchangeability of worn-out banknotes and new ones. Banknotes are a very convenient currency in circulation compared to coins. One of the significant problems in the functioning of paper units in the state is the possible emission (issuance of banknotes that are not confirmed by the country's gold reserves). Paper means of payment in the financial circulation of the state should be limited in quantity. On the present stage development of the world monetary system optimal solution in order to avoid emission, lending (credit resources) is considered. Paper currency has always had an appearance that required constant change. But invariable attributes banknotes are: individual number, security details against forgery (watermarks, special paper). Paper banknotes are an original document of an era, a historical document of a particular state and the world as a whole.
The history of the first paper money
It is documentary evidence of political, economic, financial events in world history.
The first paper money was primitive
Paper receipts and bills of exchange without fail accepted as money. The problem was the exchange of coins for paper money of this kind. The psychological factor also worked: the population expressed a high degree of alertness and distrust in paper money, rather than in the usual and reliable metal ones. monetary units. Therefore, the metal currency was valued more than a fragile piece of paper. This has led to competition between these types of means of payment. The historical and economic factor played its role in Russia: a sharp drop in the value of silver led to a more active spread of interest in paper money. The issue of paper money in the United States is associated with the preparation of the country for the Civil War. They were called "greenbacks". It was the first type of paper currency in America. In the Soviet state, with paper money, the issue of “sovznak” was marked, on which there were no signatures or seals, only the face value. During the Great Patriotic War, the stability of the monetary system was noted. In wartime conditions, citizens used cards to receive food and industrial goods. At the same time, the state steadily kept the price level. During this period, "fakes" were actively distributed, which negatively affected the monetary system as a whole.
Money is like a hedgehog: hard to find, easy to catch, hard to keep.
The first paper money.
The brave Venetian merchant Marco Polo had a chance to travel a lot. He was born in the middle of the XIII century, when our land was little explored. At the age of seventeen, he went with other merchants to eastern countries where Europeans had not yet been.
Lived seventeen years in China. When he returned home, a book about wanderings was written from his words. The stories in it were so amazing that no one believed them. They considered it a fiction that in China they heat stoves not with wood, but with “black stone” (coal), that they pay for goods not with coins, but with paper money. That's how amazing China was in the 13th century!
At that time in Europe, paper was still out of the question. And yet, Europe soon needed the first paper money. Metal steels are inconvenient in calculations. If you buy an expensive thing, you need to carry money on a cart. By this time, trade gained momentum, many goods appeared. There was also paper.
And so banks began to issue the first paper money, which was called banknotes, that is, bank notes. Banknotes first appeared in the cash desks of the Stockholm Bank in 1661, then in the Bank of England in 1694 in denominations of one pound sterling. Banknotes are also called banknotes, which in everyday life means the same thing.
Banknotes in Russia.
Banknotes in Russia began to be issued 100 years after the English ones, in 1769, under Empress Catherine II. Specially established banks began to issue banknotes (payment orders, or paper money) in denominations of 25, 50, 75 and 100 rubles.
Paper for new money was made by the Krasnoselskaya factory under the supervision of executors sent from St. Petersburg. Firstly, watermarks served to protect banknotes from forgery, secondly, authentic signatures of officials and, thirdly, relief embossed images placed inside two vertical ovals in the center of the banknote.
At first, paper money was very popular among the population, they were accepted even more readily than silver and copper. It was incomparably easier and faster to carry out large settlements and transactions with them! Wherein Russian banks, like all banks in Europe, began to issue banknotes that were not backed by gold reserves. At this time, Russia was at war with Turkey, and the costs of the war were high.
Despite the fact that banknotes quickly depreciated, they nevertheless entered Russian everyday life. Emperor Paul I, who ascended the throne in 1796, tried to cancel them. He ordered banks to buy banknotes from the population for full-fledged gold and silver coins, and burn paper ones.
However, Paul I had to abandon this idea: the redemption of banknotes required such a huge supply of gold, which, alas, was not in the banks.
Banknotes were canceled in 1839-1843, when Tsar Nicholas I carried out monetary reform and banknotes were replaced by silver currency. Then they said: “This product costs so many silver rubles” ...
With the advent of paper money, metal soon found itself in the position of auxiliary money, small change. And in general - what did they become? We habitually say: "I have so many kopecks of silver in my wallet." Although, to tell the truth, there is no pure silver in our coins. They have long been made from cheap nickel and aluminum alloys.
What about gold? In Russia, in the old days, gold coins were issued in denominations of 5 and 10 rubles; However, gold 15-ruble imperials and semi-imperials worth 7 rubles 50 kopecks were also called. They depicted the profiles of emperors and empresses (and therefore "imperials").
People of older generations still remember the "Soviet chervonets" - a ten-ruble coin, which was highly valued at international market. On it was placed the Coat of Arms of the RSFSR and there was an inscription: ‘Proletarians of all countries, unite!’ On the reverse side, a peasant was depicted with a basket on a sling over his shoulder against the backdrop of a factory. Gold coins were issued, of course, in other countries.
And yet, in the 30s of the 20th century, gold was generally withdrawn from money circulation all over the world ... Because paper money is more convenient. However, this does not mean that gold has gone out of price, that paper money has defeated it... Gold has not lost its price. It is still mined today. And much more than in the old days.
Scientists have calculated that mankind has mined about 100 thousand tons of gold over the course of six thousand years. If you divide these tons by six thousand years, not much will come of it. And in the 19th century alone, 11.5 thousand tons were mined. True, the discovery of rich gold deposits in California and Australia helped here.
At the beginning of the 20th century, gold was found in Alaska, and the "gold rush" swept across America. How many enterprising people rushed for success, despite hardships and difficulties! Why is gold needed now, if it is not money?
In the Soviet Union, for example, 77% of gold went to the needs of industry - for electronics, for jewelry, for dentistry. And 23% turned into a treasure, into the country's gold reserves. This stock lies in the form of bars in State Bank for the time being, until it is needed to purchase an important product for the country. Here gold acts, as before, in the role of money, only world money.
Securities.
Where did they come from - securities? And imagine that somewhere a rich deposit of minerals has been discovered, the same gold, for example. To start developing it, you need money. Where can you get them? And already in ancient times in such cases began to be created joint-stock companies.
Which country was the first to use paper money?
They issued shares - securities for the development of an open field. Papers on which anyone who has invested in the development of money will receive income (dividends) as soon as the extraction and sale of minerals begins. Everyone who has acquired shares becomes a shareholder, and his weight is greater, the more shares he has acquired.
He already has the right not only to dividends, but also to manage the affairs of the joint-stock company. Where can you buy shares? On the exchange. Not only to buy, but also to sell at one price or another. This means that securities are traded on the stock exchange. Bonds are also classified as securities.
Both the state and joint-stock companies can issue them when they need to borrow money from the population. A bond is an obligation under which the person who issued the bonds must repay the debt at the appointed time. Bonds are issued with a fixed percentage of annual income in the form of cash prizes and coupon payments.
The tasks of the modern exchange are the same as those of the meetings of ancient merchants: to disseminate business information, to set the price level for goods and securities (and foreign currency), as well as analyze the supply and demand of the market.
Continuation: How banks came up with.
The first paper money appeared in China in 910 ad. They had a slightly different look and differed from the modern paper ones that are familiar to us. They looked like sheets of paper of about A4 size, they were issued as a kind of document to merchants.
The thing is that merchants who carried money over long distances faced the problem of transporting the metal money itself. Therefore, the imperial court made such an extremely reformist decision at that time, to replace metal money with a document confirming a certain amount. This was created for the convenience and simplification of trade. The state acted as a guarantor of such money. Naturally, they were in great demand among merchants, but ordinary inhabitants did not really like them, preferring metal money or even goods, such as silk. This is understandable, such innovation, and even regarding money, will always be met with hostility. As an example. They are confidently conquering the market, but everyone does not trust them, it takes time. It is noteworthy that even then, money was forged, so the first paper money had security marks (watermarks, special paper, specific paint). They depicted birds, animals, people, landscapes.
Chinese merchants brought paper money to Europe and introduced a culture of "such money". As for where the first paper money appeared in Europe, opinions differ here. On the one hand, the British claim this, claiming that they issued the first “papers” in 1664. Others argue that the first paper money in Europe appeared in Sweden in 1661.
In Russia, the first paper money was introduced by Catherine II in 1769..
Here is the story of the appearance of the first paper money. If you know any Interesting Facts on this topic, share them in the comments!
Money circulation is the circulatory system of the economy. How successfully it functions directly depends the economic growth, economic activity and well-being of society. However, real full-fledged paper money in the world did not appear immediately. For many years in antiquity there was not even such a thing as a denomination. Next, we will look at where and when money first appeared, and for what purpose.
The content of the article:
Why did money appear?
The very history of the formation of money began in those days when a person, in order to receive a certain product or thing, had to offer something else in return. For example, if he had a need for an ax, then he looked for the one who had it, found out from its owner what he needed and made an exchange.
The same exchange scheme applies to modern world, but the difference lies in the fact that in order to receive the desired item, you must pay the seller money. However, even now the principle of the exchange of goods is sometimes used.
Over time, the sphere of trade began to develop intensively. Therefore, the participants in the trade (seller and buyer) had to agree on a barter system, that is, set a price for goods. The most ideal solution to the problem of commodity exchange is the appearance Money. And from time to time, such a concept as " currency».
It should be clarified that money was not always in the form familiar to us (banknotes and coins). There are examples in history when stones, cows and various objects were used as a form of currency.
In ancient times, each country had its own currency. For example:
- in Africa goods were bought for elephant hair;
- in Iceland- for stone money;
- on the islandFiji- for ivory;
- in Siberian regions - for tea briquettes;
- on the Solomon Islands- for tobacco;
- in South America and on islands of Oceania- for pearls and shells;
- in New Zealand- for stones with a hole in the middle, etc.
Not so long ago, in the 18th century AD, ancient Indian money was used in the United States - wampums. They looked in the form of necklaces, which determined by size, color and quantity who had to give tobacco, animal skins, etc. to whom and in what quantity.
When and in what year did the first money appear
Over time, the role of money changed a little and many countries switched from the usual commodity exchange to metal. At first, ingots, metal stumps and bars were used, and after a certain period of time, metal objects ( spear and arrowheads, utensils, nails, etc.). It was from the moment of the appearance of such money that a great progress in the development of trade relations began.
According to historians, the first prototypes of coins appeared in the ancient Lydian kingdom and China in the 7th century BC.
The Milesian monetary system is considered the oldest issued currency. They named the money in honor of the city of Miletus. The Lydians are the first to start producing coins of the same weight and type.
In the 5th century BC, the Persian king Darius officially abolished commodity barter in his state and introduced metal coins into circulation. In their manufacture, an alloy of gold and silver was used.
However, during the reign Alexander the Great(4th century BC) all of the above money was withdrawn from circulation and replaced by . The decision to make money only from gold was made taking into account the following factors:
- Corrosion resistance.
- Durable and rare material.
- Minimal risk of inflation, as gold was valued in all countries.
From then until the 20th century, gold acted as money. However, in China, during the same period of time, coins were made of iron, and such a concept was coined as “ denomination". Thus, the money itself became cheaper to manufacture compared to its real price.
In the countries of Eastern Europe, the first metal money came from Greece, but they were used as a means of accumulation or for making necklaces and other jewelry. People in Eastern Europe began to pay with money only in the 7th century, and Arab and Byzantine silver coins were used for this.
Coin “Prince Vladimir”
From time to time in history there are cases when metal coins ceased to play the role of money and instead of them, commodity exchange began again. So, in Russia in the 12th - 14th century AD there was " coinless» period due to the lack of silver supplies from abroad. The first coins in Russia began to be made in the range of 960 - 1015, just at the time when the rules. On one side of the coin, the image of the prince himself was applied, and on the other, Jesus Christ.
When and in which country did the first paper money appear?
The story of how, when and where the first paper money appeared deserves special attention. For a precise answer to this question, it is necessary to turn to historical facts.
In 600 AD, the Chinese preferred paper money to coins, considering the first to be a heavy burden. A novelty at that time were " flying money» Feiqian(a kind of certificate - Fei-Chien), which resemble modern system money transfers. The new money was called "flying" due to the fact that the wind could easily blow it away, unlike the usual bundles of heavy coins of 3-3.5 kg. In order to buy a product that was not available in the shop of one seller, it was necessary to purchase half of the banknote from him, and transfer the second to a merchant from another province and receive the desired product from him. Thus, the buyer no longer had to carry a whole bag of metal with him.
However, the historical date when paper money first appeared is 910 AD. And the reason for this was the lack of raw materials for the manufacture of coins. In the 13th century in China, the government, in order to simplify trade, decided to replace metal money with a document worth a certain amount. At first, they were in demand only among merchants.
Reference! Even in those days, cases of counterfeiting paper money were known. In 1500 AD, the Chinese government decided to withdraw them from circulation due to excess production. This eventually led to 100% inflation.
Paper money was returned again, but in order to avoid further fakes, it was decided to watermark them, use special paper and specific paint. Their sizes reached today's A4 format and applied to them images of people, birds, animals, landscapes, etc.
Over time, the Chinese began to export paper money to European countries, thereby instilling a culture of "such a currency."
When did the first money appear in Russia
Before the real currency in Russia, payment for goods and services was carried out by shells kauri and necklaces from precious metal. Approximately within the 8th century, dirhams, silver kopecks, called kuns in those years, had already begun to be used to calculate dirhams. But already in the 10th century they were replaced by Western European money, denarii - coins made of thin silver with primitive images of kings. At the end of the same century, Russia had already launched its own minting of silver and gold coins.
Own paper money in Russia appeared in 1769 after the decree of Catherine II of December 29, 1768. The reason for this was that the actively growing Russian economy in the 18th century created a severe shortage of settlement funds. There was not enough gold and silver, and it was extremely inconvenient to make large calculations with copper coins.
For example, 100 rubles of copper nickels were equivalent in weight to 100 kg.
It is for this reason that the first cash in Russia was issued for the purpose of large-scale further settlements. By decree of Empress Catherine II, money was made only in large denominations (25, 50, 75, 100 rubles).
The first money was not colored and the image was not applied to them. But there was text written in black ink on a white sheet.
For example, on 25 rubles made in St. Petersburg, a text was applied: “The St. Petersburg Bank pays twenty-five rubles to the announcer of this state banknote in current coin,” and then the signatures of officials were put.
But such rubles were not considered ordinary receipts. And to make them impossible to fake, they were specially applied watermarks. In addition, the inscriptions themselves were raised relief embossing. These rubles could be easily exchanged for gold, silver or copper coins. But for the first 18 years from the moment they appeared, such an exchange could be made only in two banks: in Moscow and St. Petersburg.
Only since 1786, after the introduction of the royal decree, it became possible to exchange paper cash for metal in any bank and city in Russia. A year later, a banknote with a face value of 75 rubles was withdrawn from circulation. And instead of it, small banknotes were introduced - 5 and 10 rubles. To start mass-producing them, a special Tsarskoye Selo Banknote Factory. Thus, full-fledged paper money appeared on the territory.
How did paper money appear in Europe?
The first paper money appeared in 1644 in Sweden. Copper coins were in circulation, which were very heavy and constantly losing value due to the Thirty Years' War (1618-1648). Then the founder of the Stockholm Bank (Stockholms Banco) Johann Palmstruh (Johan Palmstruch) in the summer of 1661 printed temporary credit papers - Kreditivsedlar. But due to the fact that more papers were printed than the bank could afford, the director was imprisoned, and the credit papers were withdrawn from circulation.
Norwegian businessman Thor Mohlen enlisted the support of the state in 1695 and issued paper banknotes. When they were handed over to the population, people did not understand their essence and carried them back to exchange them for metal coins.
In England, due to power struggles and revolutions, paper money also did not appear smoothly. William Patterson - Scottish merchant and banker, founder of the English bank (1694), created paper documents Goldsmithnotes, which were analogous to a bill. The paper allowed to exchange it for gold. But in 1797, the “Restriction Act” came out, according to which the Bank of England stopped exchanging bills for gold, and a fixed rate was set for papers, which essentially turned them into paper money. In 1820, these papers were again turned into bills for exchange for gold.
The transition to paper money in France was also ambiguous. During the reign of Louis XIV, the bank "Cash of Commercial Accounts" (1776) was created, which issued banknotes that reached an amount of 40 billion lire. But in 1797, the papers were canceled and payments began to be made in coins. Due to the need for high spending during revolutions in the 19th century, France switched to paper money twice. Only in 1870, during the Franco-Prussian War, paper money with a forced rate appeared.
When did the first paper money appear in the USA?
In the 1690s, the first paper banknotes were issued in the English colony of Massachusetts. In 1775, the Continental Money began to be issued.
At the start, banknotes worth 3 million silver dollars were issued. After 4 years, their amount exceeded 240 million dollars. Because of this, the rate of new money fell very quickly and in 1780 they were withdrawn from circulation.
Another paper money - "Greenbacks" was printed during the Civil War (1861-1865). But also at the end of the war, they were eliminated.
The transition to paper money in the United States began in 1933, when Franklin Roosevelt signed Executive Order 6102 on April 5. Under the new Executive Order, people were prohibited from holding more than $100 worth of gold. This was punishable by an exorbitant fine ($10,000) or 10 years in prison.
What money can appear in the future
When and in which country the first paper money appeared, we have already figured it out. Now let's talk about the future.
Over the past 10 years, people have been massively switching to electronic money: Yandex.Money, PayPal, WebMoney, etc. In addition, an interesting version of the currency has appeared on the World Wide Web, but far from the real world - cryptographic currency. At the moment, its most popular and largest type is bitcoin. Futurogists predict changes in the appearance of money and methods of payment in the coming years.
So, there are several options for what the day will look like, and it is possible that all of them will be present at the same time:
- It is possible that they will not be in the form of cash at all. That is, people will only see columns with numbers on various electronic media, which will reflect the account balance, the amount payable on the loan, etc.
- It is possible that they will be plastic. Similar loans and debit cards already familiar to people all over the world.
- They will be made from materials unknown to humans. For example, British scientists not so long ago created a preliminary version of the space currency - And outwardly, such money may look like elegant discs that depict the solar system. At the same time, when they were created, scientists provided that they could withstand radiation from space.
Conclusion
In this article, we plunged into history and talked about how the first money appeared in the world. Their evolution from ancient centuries BC to the present time is quite large and interesting. But since progress never stands still, money will continue to evolve.