What Does M.O.N.E.Y. stand for?

15 years ago

Haha...That's an interesting way of saying M-O-N-E-Y. Anyway, congrats on your fifth post, Cathy. Would like to hear from you a lot more...

Thanks

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Annabelle

15 years ago

Thank you Cathy. Very inspiring for me!

Thanks
1 reply

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rickymat

15 years ago

Hi all,
I want to share the history of money with you people:
Before money was made of bills and coins, these items were used as currency: conch shells, ivory, clay, live animals and grain. As long as it was division and scarce, it could be money.

In 1932, wooden bills were temporarily made and used Tenino, Washington. Why? There was a major cash shortage at the time and wood was readily available.

The first banks were likely religious temples. Why? Because the security was always tight.

From which period are the first records of loans, deposits, currency validation and exchange? 18th Century BC in Babylon. (Ancient Greece)

Who's the first banker on record? It's Pythius, a merchant banker from Asia Minor in 5th century B.C.

Where does the term "check" or "cheque" come from? It's derived from the game of chess. Putting the king in check means his choices are limited, just like a modern day cheque that limits opportunities for forgery and alteration.

The Knights Templar between 1118 and 1307 used a cheque system to provide their pilgrims with travel funds. They worked much like modern day travellers cheques.

Where does the $ symbol come from? It's derived from the Spanish dollar sign. In 1782, the US considered choosing the Spanish peso as the country's currency. The abbreviation for the Spanish peso (PS) later transformed into a $.

I hope you people find it interesting.

[ 2 ] Thanks
3 replies

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DominicTFY

15 years ago

Originally Posted by rickymat

Hi all,
I want to share the history of money with you people:
Before money was made of bills and coins, these items were used as currency: conch shells, ivory, clay, live animals and grain. As long as it was division and scarce, it could be money.

In 1932, wooden bills were temporarily made and used Tenino, Washington. Why? There was a major cash shortage at the time and wood was readily available.

The first banks were likely religious temples. Why? Because the security was always tight.

From which period are the first records of loans, deposits, currency validation and exchange? 18th Century BC in Babylon. (Ancient Greece)

Who's the first banker on record? It's Pythius, a merchant banker from Asia Minor in 5th century B.C.

Where does the term "check" or "cheque" come from? It's derived from the game of chess. Putting the king in check means his choices are limited, just like a modern day cheque that limits opportunities for forgery and alteration.

The Knights Templar between 1118 and 1307 used a cheque system to provide their pilgrims with travel funds. They worked much like modern day travellers cheques.

Where does the $ symbol come from? It's derived from the Spanish dollar sign. In 1782, the US considered choosing the Spanish peso as the country's currency. The abbreviation for the Spanish peso (PS) later transformed into a $.

I hope you people find it interesting.

Ricky, wondered if you went out of point over here? We are not talking about money per se. We're talking about the abbreviation?

Thanks

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Delton Doucet

15 years ago

Originally Posted by rickymat

Hi all,
I want to share the history of money with you people:
Before money was made of bills and coins, these items were used as currency: conch shells, ivory, clay, live animals and grain. As long as it was division and scarce, it could be money.

In 1932, wooden bills were temporarily made and used Tenino, Washington. Why? There was a major cash shortage at the time and wood was readily available.

The first banks were likely religious temples. Why? Because the security was always tight.

From which period are the first records of loans, deposits, currency validation and exchange? 18th Century BC in Babylon. (Ancient Greece)

Who's the first banker on record? It's Pythius, a merchant banker from Asia Minor in 5th century B.C.

Where does the term "check" or "cheque" come from? It's derived from the game of chess. Putting the king in check means his choices are limited, just like a modern day cheque that limits opportunities for forgery and alteration.

The Knights Templar between 1118 and 1307 used a cheque system to provide their pilgrims with travel funds. They worked much like modern day travellers cheques.

Where does the $ symbol come from? It's derived from the Spanish dollar sign. In 1782, the US considered choosing the Spanish peso as the country's currency. The abbreviation for the Spanish peso (PS) later transformed into a $.

I hope you people find it interesting.

Yes I do find that interesting...thanks for the info.

Thanks

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clubvikram

Banned 15 years ago

Originally Posted by rickymat

Hi all,
I want to share the history of money with you people:
Before money was made of bills and coins, these items were used as currency: conch shells, ivory, clay, live animals and grain. As long as it was division and scarce, it could be money.

In 1932, wooden bills were temporarily made and used Tenino, Washington. Why? There was a major cash shortage at the time and wood was readily available.

The first banks were likely religious temples. Why? Because the security was always tight.

From which period are the first records of loans, deposits, currency validation and exchange? 18th Century BC in Babylon. (Ancient Greece)

Who's the first banker on record? It's Pythius, a merchant banker from Asia Minor in 5th century B.C.

Where does the term "check" or "cheque" come from? It's derived from the game of chess. Putting the king in check means his choices are limited, just like a modern day cheque that limits opportunities for forgery and alteration.

The Knights Templar between 1118 and 1307 used a cheque system to provide their pilgrims with travel funds. They worked much like modern day travellers cheques.

Where does the $ symbol come from? It's derived from the Spanish dollar sign. In 1782, the US considered choosing the Spanish peso as the country's currency. The abbreviation for the Spanish peso (PS) later transformed into a $.

I hope you people find it interesting.

This was very very interesting.i love history and love to know the history behind every thing and i was surprised to know that US wanted spanish peso as its currency and that $ is a short form of spanish peso. I would request posters to share such titbits every now and then.