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Paper money or paper currency was printed after the ancient world used a barter system to obtain its needs through the exchange of goods. On February 26, 1797, Britain issued the world's first banknote, which was in the pound and pound category.



The paper currency was created because of problems related to the cost of storing and transporting commodity money (the most important of which was metallic gold and silver), which was used for commodity exchange purposes.


Although Britain announced the introduction of the paper currency for the first time in the world, historical studies speak that China is the first country in the world to manufacture and print the paper currency, and that was at the time of Emperor Tang in the period (618 - 907), the circle of trade in China expanded and became used Practical silver and silver coins.


And then spread many forms of banknotes in China, from which counterfeit and informal appeared; This led to the establishment of a private organization to supervise the issuance of banknotes and prevent counterfeiting.


Merchants were generally the owners of the idea when they were moving from country to country, where they devised a system of buying and selling that included written documents proving the amount of their ownership, and it represented the primitive paper alternative to the coin (gold and silver) and a certificate of its ability to pay the amount fixed on board, for fear of theft.


Then the idea was developed into papers to be paid to the merchant from which you buy the goods, which in turn can receive the amount fixed on this paper from the person with whom the merchant deposited the money, Do you know where and when the world's first paper currency was issued?

Paper money or paper currency was printed after the ancient world used a barter system to obtain its needs through the exchange of goods. On this day, February 26, 1797, Britain issued the world's first banknote, which was in the pound and pound category.


The paper currency was created because of problems related to the cost of storing and transporting commodity money (the most important of which was metallic gold and silver), which was used for commodity exchange purposes.


Although Britain announced the introduction of the paper currency for the first time in the world, historical studies speak that China is the first country in the world to manufacture and print the paper currency, and that was at the time of Emperor Tang in the period (618 - 907), the circle of trade in China expanded and became used Practical silver and silver coins.


And then spread many forms of banknotes in China, from which counterfeit and informal appeared; This led to the establishment of a private organization to supervise the issuance of banknotes and prevent counterfeiting.


Merchants were generally the owners of the idea when they were moving from country to country, where they devised a system of buying and selling that included written documents proving the amount of their ownership, and it represented the primitive paper alternative to the coin (gold and silver) and a certificate of its ability to pay the amount fixed on board, for fear of theft.


Then the idea was developed into papers to be paid to the merchant from which you buy the goods, which in turn can receive the amount fixed on this papers from the person with whom the merchant deposited the money, then the use of these papers has developed so that it can be paid to any seller or buyer in a way that is traded, the final place for collecting the money is where the money is deposited.


Banknotes moved to Europe in the fourteenth century, as the first European bank to issue banknotes was the Stockholm Bank in 1660, and in 1669 the Bank of Scotland began issuing banknotes.


In 1660 the paper currency was issued for the first time in America, but the currencies were issued by private banks, which made some refuse to receive currencies issued by banks that he does not trust.


Before the emergence of banknotes, metals were the first intermediary in buying and selling, as they were used in the form of alloys, and then it turned to the adoption of the coin in the house.


Banknotes moved to Europe in the fourteenth century, as the first European bank to issue banknotes was the Stockholm Bank in 1660, and in 1669 the Bank of Scotland began issuing banknotes.


In 1660 the paper currency was issued for the first time in America, but the currencies were issued by private banks, which made some refuse to receive currencies issued by banks that he does not trust.

 

Before the emergence of banknotes, metals were the first intermediary in buying and selling, as they were used in the form of alloys, and then it turned to the adoption of the coin in the house.

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