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History of money and banking
- 1. History of money and banking University of Agriculture and Veterinary Medicine SPECIALITY: Engineering and Management in Public Food and Agroturism COORDINATING TEACHER: Mihai Daniel Frumușelu STUDENT: Dinu Sorina GROUP 8215
- 2. People have used money for thousands of years as an exchange for goods and/or services (from bills, coins, checks to shells, gold, and other goods)
- 3. WHAT IS MONEY? Money, is nothing. It can be a shell, a metal coin, or a piece of paper with a historic image on it, but the value that people place on it has nothing to do with the physical value of the money. Money allows people to trede goods and services indirectly, understand the piece of. Money is valuable marely because everyoane knows everyone else will accept it as a form of payment
- 4. EVOLUTION OF MONEY The word ”money” is derriver from the Latin word ”Monet” The origin of money is lost Hunting society, skin of wild animals were used as money Pastoral society used livestock Agriculture society used grain and foods The Roman used cattle and salt.
- 6. FUNCTIONS OF MONEY Unit of account Common measure of value Means of payment Store of value (concrete) Controller of the economy
- 8. The History of Money and Banking Throughout the history of the US, Americans have used all kinds of money During the Civil War, the Federal Govt. Finally set up a uniform currency for the country In order to regulate the money supply, Congress established the Federal Reserve System in 1913. The Federal Reserve became the nation’s central bank, issuing
- 9. BANK