Money History The word money comes from the Latin 'Moneta' - which is the first Roman coinage that was minted at the temple of Juno Moneta in 344BC. Before coinage, various objects such as cattle, pig's teeth and shells had been used as money. For most of its history money has taken the form of coins made of precious metal. The money has had intrinsic value. Many of the units of modern money recall their origin in amounts of precious metal (e.g the pound sterling was originally the Roman pound (twelves ounces) of silver.) The Beginning of Banking in Britain In Great Britain, the modern age of banking began in 1640 when King Charles I, needed cash to pay the (English) army that he was raising against Scotland ( of which he was also King.)to seized the golf bullion that many merchants and nobles had placed in the Tower of London for safe-keeping. In 1642, a further warfare broke our with the English Civil War between the King and Parliament. London was the stronghol...
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