Concept of money


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Concept of money

  1. 1. Concept of Money
  2. 2. <ul><li>Our monetary system developed to meet the changing needs of the economy. </li></ul><ul><li>Primitive economies consisted largely of self-sufficient units or groups that lived by means of hunting, fishing, and simple agriculture. </li></ul><ul><li>There was a need to exchange goods and services. </li></ul>
  3. 3. Money
  4. 4. <ul><li>as anything authorized by law. </li></ul><ul><li>generally accepted as medium of exchange. </li></ul><ul><ul><li>one form in which we keep our wealth. </li></ul></ul><ul><li>As defined by Farlex Dictionary, Money is a Currency and coin that are guaranteed as legal tender by the government. </li></ul>
  5. 5. Characteristics of Good Money
  6. 7. Importance of Money
  7. 8. <ul><li>Money simplifies matters. </li></ul><ul><li>Money becomes the medium of exchange. </li></ul><ul><li>With money, there is low-uncertainty-high-exchangeability requirement. </li></ul><ul><li>Money also contributes to economic development and growth. </li></ul><ul><li>Money is a store of value. </li></ul>
  8. 9. Functions of Money
  9. 10. <ul><li>As a medium of exchange. </li></ul><ul><li>Unit of account or standard of value. </li></ul><ul><li>Store of value </li></ul><ul><li>Standard of deferred payment. </li></ul>
  10. 11. <ul><li>Sources: </li></ul><ul><li>Farlex Dictionary </li></ul><ul><li>  </li></ul><ul><li>Alminar-Mutya, R. (2002). Introduction to Philippine Money, Credit, and Banking . Brgy. Ugong, Pasig City: Capitol Publishing House, Inc. </li></ul><ul><li>  </li></ul>
  11. 12. HISTORY AND REVOLUTION OF MONEY <ul><li>Bangko Sentral ng Pilipinas </li></ul><ul><li>- nation’s central monetary authority </li></ul><ul><li>Museo ng Bangko Sentral ng Pilipinas </li></ul><ul><ul><ul><li>formerly Central Bank Museum </li></ul></ul></ul><ul><ul><ul><li>1974 </li></ul></ul></ul><ul><ul><ul><li>showcases the banks collection of currencies </li></ul></ul></ul><ul><ul><ul><li>collects, studies, preserve coins, paper notes, monetary items </li></ul></ul></ul>
  12. 13. PRE-HISPANIC ERA <ul><li>piloncitos: first recognized form of coinage in the country </li></ul><ul><li>Barter rings: other objects used as medium of exchange </li></ul>
  13. 14. SPANISH ERA <ul><li>Galleon Trade </li></ul><ul><li>- was responsible for transforming Manila into a trade center for oriented goods </li></ul><ul><li>Cobs or macuquinas: odd-shaped selver coins </li></ul>
  14. 15. SPANISH ERA <ul><li>Others coins that followed: </li></ul><ul><li>- dos mundos or pillar dollars </li></ul><ul><li>counterstamped coins </li></ul><ul><li>Portrait series </li></ul>
  15. 16. SPANISH ERA <ul><li>18 th Century: Royalty of Spain authorized the production of copper coins by the Ayuntamiento or Municipality of Manila </li></ul><ul><li>Barrillas: copper coins </li></ul>
  16. 17. SPANISH ERA <ul><li>Pesos fuertes: first bank notes that were issued in 1852 </li></ul>
  17. 18. SPANISH ERA <ul><li>Casa de Moneda de Manila </li></ul><ul><li>- minted the first gold coins with the word “Filipinas” inscribed, which were called Isabelinas and Alfonsinos </li></ul>
  18. 19. Revolutionary Period <ul><li>- Two types of 2- centavo coins were struck in the army weapon store of Malolos </li></ul><ul><li>- rare collection </li></ul><ul><li>- paper notes were also issued, but the circulation was limited </li></ul>
  19. 20. American Regime <ul><li>- US Congress passed the Philippine Coinage Act, which authorized the mintage of silver coins from 1903 to 1912 </li></ul>
  20. 21. American Regime <ul><li>Silver Certificate: were issued until 1918 </li></ul>
  21. 22. American Regime <ul><li>Treasury Certificate: replaced Silcer Certificate from 1918 to 1935 </li></ul>
  22. 23. American Regime <ul><li>Manila Mint </li></ul><ul><li>- produced coins until the Commonwealth period </li></ul><ul><li>- first seat of the Central Bank </li></ul>
  23. 24. JAPANESE OCCUPATION: WORLD WAR II <ul><li>Japanese Invasion Money </li></ul><ul><li>- Japanese Government </li></ul>
  24. 25. JAPANESE OCCUPATION: WORLD WAR II <ul><li>Guerrilla Notes or Resistance Currencies </li></ul><ul><li>- Filipino Guerrillas </li></ul>
  25. 26. Republic Period <ul><li>Central Bank of the Philippines </li></ul><ul><li>- created by the Republic Act No. 265, January 3, 1949 </li></ul>
  26. 27. Republic Period <ul><li>Victor notes: issued by CBP with overprint “Central Bank of the Philippines” </li></ul>
  27. 28. Republic Period <ul><li>English Series </li></ul><ul><li>- first bank notes issued by CBP </li></ul>
  28. 29. Republic Period <ul><li>Ang Bagong Lipunan series : 1973 </li></ul>
  29. 30. Republic Period <ul><li>New Design Series: 1985 </li></ul>
  30. 31. Republic Period <ul><li>Central Bank Coins </li></ul><ul><li>English Series: 1959 </li></ul>
  31. 32. Republic Period <ul><li>Pilipino series : 1967 </li></ul>
  32. 33. Republic Period <ul><li>Ang Bagong Lipunan series : 1975 </li></ul>
  33. 34. Republic Period <ul><li>Flora and Fauna: 1983, improved in 1992 </li></ul>
  34. 35. Republic Period <ul><li>Improved Faura anf Fauna series </li></ul>
  35. 37. Bukid, Czarina Cruz, Valerie Rochelle Parangan, Ellaine Vinzyl 206C LC2