To: Hamza (sociology professor)
From: Hamza Khalid
Date: Thursday, 26th January, 2017
Subject: Development of money
This is to state that this report is about the transformation and consideration of money and how it has been used throughout time. And this report is to highlight its transformation and development.
It is thought that money is life because everything you need in life is bought by money. Nothing in this world is free even a clean water is not free. It is also true that money cannot bring success but success bring money.
If you ask the people, what is money? They will simply answer you that money is cash, credit cards and cheques.
Following are its forms:
A) Perhaps, the oldest form of money is livestock and plant products, cattle’s and grains were very common. The other and very important form of money which was used by Chinese was cowrie shells. Slowly and gradually the development started coming and money come with metals including metal tools and metal jewelry.
B) Eventually of course, in Lydia metal coins made of silver and gold were unrented which became lastingly popular. It was adopted by ancient Greeks states where banking transaction were carried out.
Today, eventually of course, money comes in coins and bank notes. Both paper currency as well as coins are in circulation. We all should thank to ‘Gutenberg’ for inventing the printing press which made the production of paper currency.