Thousands of years ago there were no money-culture. In that time man had the "Barter" system. It is meant that if a man wanted something, he had to find someone who had that article and offer him something in exchange. In time certain things like cows, tobacco, grains, skins, salt and beads were all used as money among people who were always ready to accept them. Later on all these varieties of money were replaced by pieces of metal, specially gold and silver. After that coins were made of a certain purity and weight and these represented certain amounts of various objects.
There are four points that makes money valuable. Money makes possible exchange and trade, secondly money is a "yardstick of value", that means money may be used to measure and compare the values of various things. Third of all money is a "storehouse of value" and lastly money is served as standard for future payments, that to use money as a form in which later payments can be made if there is a promise to pay later.
There are four points that makes money valuable. Money makes possible exchange and trade, secondly money is a "yardstick of value", that means money may be used to measure and compare the values of various things. Third of all money is a "storehouse of value" and lastly money is served as standard for future payments, that to use money as a form in which later payments can be made if there is a promise to pay later.
