I wondered that how these Currency notes were invented. So with the help of “Google” devta (god), I got wonderful information which I am sharing with you all. :-)
This is “Song Dynasty Jiaozi, the world's earliest paper money”
Reference: http://en.wikipedia.org/wiki/Banknote
Eventually, the paper money called "jiaozi" originated from these promissory notes.
Story of currency note:
The use of paper money as a circulating medium is intimately related to shortages of metal for coins. In ancient China coins were circular with a rectangular hole in the middle. Several coins could be strung together on a rope. Merchants in China, if they became rich enough, found that their strings of coins were too heavy to carry around easily. To solve this problem, coins were often left with a trustworthy person, and the merchant was given a slip of paper recording how much money he had with that person. If he showed the paper to that person he could regain his money.
Currently circulated currency notes !! Advance, well designed !!
Eventually, the paper money called "jiaozi" originated from these promissory notes.
Story of currency note:
The use of paper money as a circulating medium is intimately related to shortages of metal for coins. In ancient China coins were circular with a rectangular hole in the middle. Several coins could be strung together on a rope. Merchants in China, if they became rich enough, found that their strings of coins were too heavy to carry around easily. To solve this problem, coins were often left with a trustworthy person, and the merchant was given a slip of paper recording how much money he had with that person. If he showed the paper to that person he could regain his money.
Currently circulated currency notes !! Advance, well designed !!
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