Tuesday, May 3, 2011

The Oldest Bank Note in the world

China is known as the first civilization who use paper as a currency. After Marcelino came back from China after living on that country for 20 years, he told news that people in China used paper as money. His news was unbelievable story.Most of his friend in his country include his emperor did not believe it.First bank note in the world wasused in China since 800 AD.First China`s province that used the money was Szechwan and they used the money since 1024

China first paper money The Oldest Bank Note in the world
China first paper money

Although the used of paper money was abandoned in themiddle of 15th century, it was lucky that some explorer had found one of the paper money copy that was issued in 1380.
It made of mulberry tree and the condition is not as good as used to
In Europe, the adaptation of paper money was started more than 100 years after Marcopolo`s exploration in China. In this continent, The first bank note was introduced for the first time since17th century in 1633. It was used as a receipt to reclaim deposit and an evidence of paying availability. In 1660, the use of this bank note receipt were expended and used as an alternative to handle coins and bullion .In 1656, first chartered bank in Europe was built in Sweden.It is the first bank in Europe that issuing Bank Note. The bank also served deposits, issuing bills of credit, giving loans include granting mortgages. This bank note below is one of the copy. It is 100 Daler bank note that was issued in 1666

100 daler bank note The Oldest Bank Note in the world
100 daler bank note-Europe

In UK, the used of bank notewas started since 1694.Since that time, the used of bank note or paper money spreading to other countries include Africa, America and Asia.


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