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					    TIMELINE- A HISTORY OF MONEY
By Claudia Zequeira
SSE 5115- AM01
Methods in Elem.
School Social Science
June 2, 2009
 In the beginning…there was barter

 Barter is the exchange of resources or services for mutual
 advantage. It is believed people have practiced it since the dawn of
 time.




Bartering is still in use
today, as seen in this
photo (right) of an
active barter market in
Indonesia
      9,000—6,000 BC: Cattle

   Cattle (which may include cows, sheep, camels, etc.) was the first
    form of money. Grain and other vegetable or plant products were
    used for bartering in many cultures since the beginning of
    agriculture.
 The picture on the
   right shows the
Pushkar camel fair in
  Rajasthan, India,
  where cattle and
camels are still sold
 and bartered each
 year. The fair also
    serves as the
 backdrop of a holy
       festival.
      1,200 BC: Cowrie Shells

   Cowries, mollusk shells found in the
    shallow waters of the Pacific and
    Indian Oceans, were used in China
    first. The cowrie is the most widely
    and longest used currency in history.




                                            The girls in the picture above belong to the
                                            Peul tribe, a group of migrant cow herders
                                            that span most of West Africa. The Peul tend
                                            to be wealthier than many of their neighbors,
                                            and some show it by the jewelry they wear.
                                            Cowrie shells in the girls’ hair were once the
                                            currency for the area and are still valuable.
      1,000 BC: First Metal Money and
      Coins

    Cowrie imitations made with
    bronze and copper were
    made in China at the end of
    the Stone Age. Metal tool
    money, such as knife and
    spade monies, was also first
    used in China. These early
    metal monies eventually
    evolved into early versions
    of the round coins we use
    today.                         Photo: Spade money used in China for
                                   everyday transactions. State of Liang (Wei),
                                   circa 400 BC.
   500 BC: Modern Coinage
Outside of China, the first coins developed out of lumps of silver. They soon took
the familar round form of today, and were stamped with various gods and
emperors to mark their authenticity. These early coins first appeared in Lydia,
which is part of present-day Turkey, but the techniques were quickly copied and
further refined by the Greek, Persian, Macedonian, and later the Roman
empires. Unlike Chinese coins, which depended on base metals, these new
coins were made from precious metals such as silver, bronze, and gold, which
had more inherent value

                                                   Known as a denarius, this
                                                   silver Roman coin depicts
                                                   emperor Augustus (27
                                                   BC- 14 AD).
      806 AD: Paper Currency
The first paper banknotes appeared in China. In all, China used paper money for over
500 years (from the ninth through the fifteenth century). Over this period, paper notes
grew in production, so much so that their value rapidly depreciated and inflation soared.
Then, beginning in 1455, the use of paper money in China disappeared for several
hundred years. This was still many years before paper currency would reappear in
Europe.


   The Song Dynasty                                                         This 50-
   (960–1279 AD),                                                           daler note
    short on copper                                                         issued by
   for minting coins,                                                       the Bank of
   issued generally                                                         Sweden in
   circulating                                                              1666 was
   banknotes, such as                                                       among the
   the bill seen on                                                         first
   right                                                                    banknotes
                                                                            in Europe
  1500s: Potlatch
                                            The people depicted below are
                                            gathered in preparation for a
                                            potlatch. The photograph was
"Potlatch" comes from a Chinook
                                           taken in 1865.
Indian custom that existed in many
North American Indian cultures. It is
a ceremony where gifts were
exchanged as a way to establish
social hierarchies and redistribute
community wealth. Dances, feasts,
and other public rituals were
performed.




                                   Woven baskets such as the one on the left are
                                   given as gifts in today’s potlatches
       1816 to 1930- The Gold Standard
   Gold was officially made the standard of value in
    England in 1816. At this time, guidelines were made
    to allow for a non-inflationary production of standard
    banknotes which represented a certain amount of
    gold. Banknotes had been used in England and
    Europe for several hundred years prior, but their
    worth had never been tied directly to gold
   A worldwide Depression in the 1930‘s marked the
    beginning of the end of the gold standard. In the
    United States, the gold standard was revised and the
    price of gold was devalued. This was the first step in
    ending the relationship altogether. The British and
    international gold standards soon ended as well, and
    the complexities of international monetary regulation
    began                                                    Under a gold standard,
                                                             paper notes are convertible
                                                             into pre-set, fixed quantities
                                                             of gold.
     The Present
Money continues to evolve.
Over the past ten years, the Euro,
a currency common to more than a
dozen European countries, has
gained in strength and value




                                     The images on
                                     this slide show
                                     Euro banknotes
                                     and coins. A logo
                                     of the Euro is
                                     seen on right
      The Future: Electronic Money

   Digital cash will most likely
    become the prevalent currency
    of the future, with many a
    transaction conducted via the
    computer
   But efficiency comes with a price:
    as digital transactions increase,
    so will the need to guard against
    hacking and anonymous money
    laundering, to name but two
    pitfalls of the new technology
References:
Image References:


Title slide
Thinkquest.org (n.d.). Image of a ‘Money Tree.’ Retrieved on June 1, 2009 from
    http://library.thinkquest.org/28718/moneytree.jpg
Slide 2
Examiner.com (n.d.). Cartoon image of two girls bartering. Retrieved on June 1, 2009 from
   http://image.examiner.com/images/blog/wysiwyg/image/barter.gif
Perez, A. P. (2007). Flickr. Photo of Wulandoni Weekly Barter Market, near Lamalera – Indonesia.
    Retrieved on June 1, 2009 from
    http://www.flickr.com/photos/antonioperezrio/2278668133/
Slide 3
Photo of the Pushkar Camel Fair (2006). In Wikipedia, the free encyclopedia. Retrieved June 1,
    2009 from http://en.wikipedia.org/wiki/Pushkar_Fair
Slide 4
The African Fabric Shop (n.d.). Photo of cowrie beads for sale. Retrieved on June 1, 2009 from
    http://www.africanfabric.co.uk/bsh_001.php
   Webshots Travel. (2007). Photo of Peul girls wearing cowrie beads. Retrieved on June 1,            2009
    from http://travel.webshots.com/photo/1145952601055742295qMUubk
   Slide 5
   Calgary Coin & Antique Gallery (n.d.). Photo of ancient spade money used in China. Retrieved on June 1,
    2009 from http ://www.calgarycoin.com/reference/china/china1.htm
   Slide 6
   Acropolis Ancient Coins (n.d.). Image of Roman coin. Retrieved on June 1, 2009 from
          http://akropoliscoins.com/page4.html
   Slide 7
   Hewitt, Mike. (n.d.). Dollardaze.org. Image of Swedish dinar, 1666. Retrieved on June 1, 2009      from
    http://dollardaze.org/blog/?post_id=00405
   Image of paper money produced in China during the Song Dynasty. In Wikipedia, the free
          encyclopedia. Retrieved on June 1, 2009 from http://en.wikipedia.org/wiki/Banknote
   Slide 8
   The Peabody Museum of Archaeology and Ethnology at Harvard University. (1999) Gifting and Feasting
    in the Northwest Coast Potlatch. Contemporary Potlatch. Photograph of a basket given during potlatch.
    Retrieved June 1, 2009 from http://140.247.102.177/potlatch/page5.html
   The Peabody Museum of Archaeology and Ethnology at Harvard University. Gifting and                 Feasting
    in the Northwest Coast Potlatch. (1999). Gifting in Potlatch. Photograph of items lined up for a potlatch
    near Victoria, British Columbia, 1865. Retrieved June 1,          2009 from
    http://140.247.102.177/potlatch/page5.html
Slide 9
Photograph of a Gold Key used to access a ten-digit account number, which is
          known only to the bearer of the Gold Key. (2005). In Wikipedia, the free
          encyclopedia. Retrieved on June 1, 2009 from
          http://en.wikipedia.org/wiki/Gold_standard
Slide 10
Netzler, Andrew. (2008). Photographs of Euros --banknotes. In Wikipedia, the free
          encyclopedia. Retrieved on June 1, 2009 from
http://en.wikipedia.org/wiki/Euro

Photographs of Euros --coins. (2007). In Wikipedia, the free encyclopedia. Retrieved
        on June 1, 2009 from http://en.wikipedia.org/wiki/Euro

Boda Online.(n.d.). Graphic image of Euro logo. The Euro and your PC. Retrieved on
       June 1, 2009 from http://www.rsc.co.uk/boda/info/euro.htm

Slide 11
E-Commerce Website. (2008) Graphic image of computer and digital transactions.
         Retrieved on June 1, 2009 from
         http://ecommercesite.files.wordpress.com/2008/06/electronic-money.jpg
Text References:

Nova Online.(2002).The History of Money. Retrieved on June 1, 2009 from
       http://www.pbs.org/wgbh/nova/moolah/history.html

PBS.org. (2001). Africa. The Sahel: Meet the Fulani. Retrieved on June 1, 2009 from
        http://www.pbs.org/wnet/africa/explore/sahel/print_sahel_peopleF1.html

The Peabody Museum of Archaeology and Ethnology at Harvard University. (1999)
       Gifting and Feasting in the Northwest Coast Potlatch. Retrieved June 1, 2009
       from http://140.247.102.177/potlatch/page5.html

				
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