Refers to objects which are backed by a reputable source (usually a state actor) and used in lieu of barter to trade for goods and services. Originally currency was produced by containing a set amount of precious material or the promise that the object could be redeemed for a certain amount of a ...
In 1949, Britain devalued the pound sterling by 30%. This was a major world economic event given that the pound was and still is one of the major currencies in the world. In fact, 9 other countries ...
One often hears stories about civilised and pre-civilised societies using shells, bones, and other trinkets as currency. How exactly did this system work? Taking the example of shells, did they have ...
Wikipedia lists the following Ottoman currencies: Akçe, Para, Kuruş, Lira, Sultanî, but I would like to now which were prevalent in actual use (or, rather, uses). Also, such a variety suggests that ...
What were tally sticks, and how was it that they they worked for the economy? I understand that they were a form of currency and were of fixed value based on the notches, but how did they work as a ...
How much has U.S. currency inflated since the Coinage Act of 1792 established the U.S. Mint? Adjusting for inflation, what amount of modern currency would have the same buying power as a 1792 dollar? ...
What were the first local currency systems in history we have detailed information on? I dont think it was gold/silver or other hard to produce materials. Probably these became more important ...
In Thomas Jefferson's proposal for a decimal currency, he describes the status quo as: The [cent] will differ little from the copper of the four Eastern States, which is 1/108 of a dollar; still ...
The question is about the adoption of currency during imperialist rule. Why did the British persist with the local currency, the rupee? What impediments did the British face in implementing the ...