The Evolution of Currency History Article Research (Article Sample)

The Evolution of Currency
Over the years, in different parts of the world, people have always had affinity for specific items in the society. This has come with people having common interests and therefore attaching value to these items. With a common value, people are able to trade and transfer wealth. In the olden days such items would be precious stones, food, animals, leather, clothes, fragrance and many more that were of value to the local person. For instance, an individual would give away three goats for a cow in some communities.
Over time, this led to the development of preferred currencies in different communities such as gold and copper coins, which in turn came with the need for a more stable and streamlined currency as the population of people kept rising. People also wanted a currency that they would save and use in the future, a currency that was significantly imperishable and reliable as they moved from market to market. There was need for this to be controlled in most capitalistic communities in order to introduce an element of trust amongst the population. Therefore, banks were created to act as the medium of trust between business people, customers and governments. They were also essential in ensuring credit and money storage for the people.