Thursday Thirteen #7

13 Things about Money, Honey


It's been foremost on my mind lately as my son is one year away from college. So here is some historical information about that which is "the root of all evil":

1. Animals were the first forms of "money", then followed by the use of grain, vegetables or other plant products. About 9,000 - 6,000 BC.

2. 1,200 BC: Cowrie shells were first used as money in China. It is the most widely and longest used currency in history, still being used as recently as the middle of the 1900's in some parts of Africa.

3. The Chinese get sick and tired of fishing shells out of the shallow waters and they begin to manufacture bronze and copper cowrie imitations by the end of the Stone Age, around 1,000 BC.

4. Outside of China, the first coins were developed out of lumps of silver, eventually taking their round, flat shape. They first appeared in what is now known as Turkey, and the process was refined throughout the Greek, Persian, Macedonian and Roman empires.

5. 118 BC: Leather money was used in China. Historians consider this use of deerskin the first documented type of banknote. Deer begin to figure out how to hide their hides more efficiently.

6. The exodus of the Danish people in 800-900 AD to Ireland gave birth to the saying "to pay through the nose". Seems these Danes felt since they were living in Ireland, they didn't have to pay the Dane poll tax. However, the mucky-mucks had other ideas and chased them the hell down. Once cornered in the pub, if they refused to pay, their noses were split in two with a knife. And I doubt the Danes took time to make sure their knives were nice and sharp.

7. Progress, as it is wont to do, begins and stuff like Potlach and Wampum (which is actually a "money belt") begin to be used, along with coins, shells, paper money, etc. Columbus parks his boats on the East Coast, and the Indian people soon being to understand the phrase: Manifest Destiny. However in a stroke of luck, the Massachusetts Bay Colony declare wampum as legal tender in 1637, years after John Bridges stated in 1587: "A fool and his money are soon parted" (In Defense of Government).

8. Here in the ol' states, in order to finance that little headache called the American Revolution, Congress gives the thumbs up to the first printing of currency. However, not thinking the process through by having the financial backing of gold or silver, these "Continentals" quickly devalue and become useless.


9. There is a money free-for-all -- every state, every bank, everyone with a pot of ink and a pen start making their own money. This was called the Free Banking Era. What they didn't know then, which we all know now is that banking ain't free, so that went bust -- just as soon as we needed to fund that other headache. The Civil War.

10. It occurs to some that the financing of wars is the impetus for restructuring the monetary system. In Democracy in America, Alexis de Tocqueville stated in 1835 "I know of no country, indeed, where the love of money has taken a strong hold on the affections of men..." and women. True then and true now.

11. As are these notables: From the NY Times, May 31, 1864: "There are some things that money can't buy." From the Saturday Evening Post, June 18, 1870: "Money isn't everything." From the Washington Post, July 17, 1906: "Money doesn't grow on trees."


12. The largest bill ever circulated was the $10,000 bill, which features the face of Salmon P. Chase, Abraham Lincoln's Secretary of the Treasury. Never touched it, never will. Currently, the $100 bill is the largest in circulation. Never touched it, never will.

13. And finally, those words of wisdom from the lads: "I don't care too much for money; Money can't buy me love."

Thursday Thirteen #7

http://larachronicles.blogspot.com/2007/08/thursday-thirteen-7.html