Wednesday, May 18, 2011

History of Money

Cultural interaction in human civilization has created an instrument that very important role, both as a means of communication, transaction, or the recognition of one's social status, namely money. Since its presence in human civilization, money has played a major role dalammengubah human cultural behavior, and even contributed to the collapse of the feudal system and the hierarchy of aristocracy as it grows in Greek and Roman era.
The reality is, money which was originally intended to function as a medium of exchange and a standard unit of value turned out to have an impact on human culture focus when the money was applied as a property that determines a person's dignity in the community. In its history, role and functions of money has grown rapidly, without knowing boundaries, race, nation and state so that the money has contributed an important part in the process of global development of human civilization. Perhaps caused by this, Aphra Behn, a seventeenth-century playwright wrote in his book The Rover (1677)? Money speaks in a language understood by all nations? (Page xxxi).
Money has been known since hundreds of years ago, as well as natives in the interior of the continent of Africa Bandiagara to exchange their agricultural products, from sebakul tomatoes with a number of daily needs, milk, wheat and the like. Transactions are initially conducted in barter, and then developed by using a medium of exchange that erbuat from crops like cocoa the like (known as commodity money). Gradually the instrument was turned into a medium of exchange is made of hard objects, such as stone and metal. From this discovery dapatdipahami that human recognition of the money was a process that berakulturasi single culture, namely the creation process of imitation of one tribe to another tribe without any claim of copyright because they realize that money is created by the media of economic interaction among nations with? Language? easily standardized.The functioning of the commodity as a medium of exchange, is the familiar currency in early human civilization. Means to pay these commodities can serve a twofold purpose, such as chocolate which functioned as a medium of exchange of high value, then the circulation of these commodities increased in intensity. However, when the declining role of commodities, then the holder the greater utilization of fruit consumption of chocolate as an ingredient. The use of gold and silver as money in the form of coins were created by Croesus in Greece around 560-546 BC. Simultaneously, the medium of money that serves as instruments means to pay, mulaidikembangkan, made from a variety of other solid objects sepertitembikar, ceramic or bronze.
Jachymod Villages in the Czech Republic, Eastern Europe, regarded as the first region using a currency called the dollar, which is the most popular currency in the modern age, appeared at the end of the 19th century. Initially called Taler, then the Italians spell it Tallero, Dutch tongue says Daler, Hawaii dala, in the dialect of English is disclosed as a dollar. Embryos of dollars made from raw material silver and gold coins of natural forms, whose use is growing in many countries or states. Indeed Taler itself is evolving as the currency in mainland Europe since the 16th century, whose fruits are more than 1500, but in modern civilization, each nation or the state create a separate designation for its currency to show an independent status.
In the history of the use of paper as the material of money, China is considered as the first nation to find it, which is around the first century AD, during the dynasty of T? Ang. In the modern age, Benjamin Franklin (United States) is determined as the father because he Banknotes of the first printing of paper dollars, which was originally used to finance the war for independence the United States. As a tribute government of Benjamin Franklin, his portrait enshrined in the sheet's largest denomination dollar (U.S. $ 100). On his way, the use of paper money as an attribute and simbolsebuah developing countries. But as the guarantee of state responsible for its circulation, the amount of paper money issued is always associated with the amount of gold reserves held by the country concerned. Around the year 1976, the dependence of printing paper money is no longer linked to gold reserves, but allowed to roll and dive into the free market to face the law of supply and demand as the economy grew in the law.
Thus, money growth rate can not be separated from the cultural and intellectual innovation that grew out of man. Money has become the focus of modern world culture, so that money is not only defined as an instrument of payment between consumers and traders, workers and employers, but the limits of his understanding had entered the territory of all human life, ranging from the common people until the government officials with each of his profession. These days money is no longer translated as berhargasebagaimana letter sheets stored in a vault, but the money has been manipulated in the form of plastic card that can accumulate in a person's ability to fulfill payment obligations. In modern civilization, the invention of plastic money that is represented in the form of cards, fashion and trends have become familiar in everyday life. The question is whether the innovation creation of the currency will remain progressive in the future. Will happen in time, the role of money will be replaced by fingerprint. The answer is innovation and human intellectual progress can not be inhibited by time, because the source of knowledge is always open without doors.
The book, written by Jack Weatherford and translated either by Noor Cholis, explaining the development of money through three phases, namely, Phase I Cash Classic, Phase II, Phase III Paper Money and Electronic Money. Although it is not? Law books?, But this book is still interesting for enthusiasts Banking Law and central banking, mainly because bahasannya give another insight, because penuturannya not solely concentrated on the economic side, which become? Cage? development of the function and role of money, but instead set forth in the historical cultural role by providing illustrations of money in the middle of rural society and modern society. Viewed from the side of culture, between the simple life of rural communities throughout rural and modern society living in urban luxury living building in a complex economic activity and surrounded by sophisticated technology, the role and functions of money are basically no different. Differentiation lies only in terms of quantitative rather than qualitative.

No comments:

Post a Comment