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THE INVENTION OF MONEY.
- Source :
-
New Yorker . 8/5/2019, Vol. 95 Issue 22, p28-31. 4p. 3 Cartoon or Caricatures. - Publication Year :
- 2019
-
Abstract
- The article presents the history of paper money and its role in modern economy. Kublai Khan, a grandson of the conqueror Genghis Khan, introduced paper money in 1260. Paper money has been regarded as an innovative instrument of trade and finance. In Great Britain, King William III allowed lenders to incorporate themselves as a new company, the Bank of England, that printed bank notes as receipts for the deposits were then lent to the king.
- Subjects :
- *PAPER money
*FINANCIAL instruments
*BANK notes
*BANK deposits
Subjects
Details
- Language :
- English
- ISSN :
- 0028792X
- Volume :
- 95
- Issue :
- 22
- Database :
- Academic Search Index
- Journal :
- New Yorker
- Publication Type :
- Periodical
- Accession number :
- 137715206