3. The Magic Money Tree

The Magic Money Tree

Blog 3/3 in the ‘History of Money’ series

So far in this series, we have seen how metal money was imposed on societies by states, and how it was replaced with paper and wooden money . In this blog, we shall see how that paper money evolved into electronic money, created by private banks…

The tally stick, and the paper money which evolved from it, could be created by any individual at any time. If that person was deemed trustworthy, it was accepted as currency, backed by the s...