Presents information about the history of paper money, in light of the introduction of euro notes and coins on January 1, 2002. Prediction that the release of the money will cause problems such as long lines, confusion, exploitation of consumers, and forgery; Ways the European Central Bank will protect against forgery; Idea that forgery is become easier through technology.
*HISTORY of the banking industry, *BANKING industry, *PAPER money, *HISTORY, CANADIAN economy, BANKING industry personnel
Abstract
The article discusses the history of the Bank of Montreal and the bank's influence on Canada's financial and economic history. It looks at how the Bank of Montreal was the first to introduce paper banknotes in Canada in 1817 and how it changed the country's financial system. Particular attention is also given to Edwin Henry King, who became president of the bank in 1869 and was known for his contributions to the business aspects of banking.
*PAPER money, *HISTORY of money, *LEGAL tender, *BANK notes, *HISTORY
Abstract
Takes a look at the history of the invention of paper currency. John Palmstruch and the founding of the Stockholm Banco that issued bank notes in Sweden; Methods used to verify validity of the currency; Failure of the bank notes that become overvalued and the fate of Palmstruch; John Law and his patronage from the Banque Royale in France; The issue of credibility of paper currency; History of the growing use of paper to avoid metal as currency; Inflation.
Published
1999
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