The Rise, Progress, and Present Condition of Banking in India (Classic Reprint) - Softcover

Inhaltsangabe

Excerpt from The Rise, Progress, and Present Condition of Banking in India

It cannot be stated, with certainty, when coin was introduced; for there appears to be no authentic record to which we can turn for satisfactory information, unless we except the pages Of Holy Writ, and some of the leading works on Grecian and Roman History, where references are made, occasionally, to the exchanging of money, to the places selected as depositories Of the precious metals, and to the use to be made thereof, under certain con ditions and restrictions. In the earliest periods, when coined money was not in existence, and when a more ex peditious and less expensive mode Of interchange had not been introduced, the precious metals passed by weight. Gilbert, in his History and Principles of Bank ing, remarks It is probable that the merchants would require that the precious metals they received should be of a certain degree of fineness. We read Of Abraham weighing unto Ephron 400 Shekels Of silver, current money with the merchant, a phrase which implies that the money current with the merchant was different from that in ordinary use.

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