The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1857-11-18
Coined Money and Paper Money.


The discussions now going on in a thou
sand prints, respecting the mutual advan.
tages and disadvantages of coined money
and paper money, suggest 10 us that hasty
sketch OF the origin of both species of cur
rency may be Interesting TO many readers
of the Ledger.
In the earlier ages of the world, exchanges
Were made by bartering one article for ano.
iher, as a sheep for a coat, a DOW for n sword
aud herd OF cattle for bit of land As
society advanced, however, the disadvan
tages OF this method of trading began to be
seriously felt, and some other system was
sought to be devised. The precious metals,
on account both ct their value and compact.
ness, were adopted among most conmuni-
ties rs solution 10 the problem, though
other communities employed shells, the
American Indians for example, and still
Others other substitutes. At first the silver
was used in bars. But the difficulty of as
saying IL, rs well as the difficulty Of weigh.
ing il, for each separate transaction. 9rsdu-
ally led 10 the stamping it, and then 10 the
cutting oil pieces OF certain detcmilcd
weigots. These thugs werc finally done hv
public Authority; and hence the origin OF
gold, silver and o,her coins.
he first piece of stamped money of this
descriptions was doubtless minted before the
historic period. 1t is said by Plinv. never.
theless, that the Romans had no coined mo-
ney before the time of Servius Tulius. But,
long prior TO that period, the rhenicians and
other commercial nations used stamped
coins. 1t is plain, from more than one pas
sage in the Bible, that money OF this Kind
was familiar 10 the Hebrews, at a very early
epoch in their annals, Iron was employed
10y the Spartaus an coinage: Copper by the
Romans gold and silver by richer and more
commercial nations. Generally tho early
coins et all nations were exceedingly rude.
But we must except those OF The Greeks,
who exhibited in their coinage, as in all
things else, their natural aptitude for the
beautiful. We are indebted 10 the classic
world for the Term money, COINS having, ac
coriing TO tradition, been tirs, struck at the
temple of Juno honeid. The word pecuui-
AIRY is from the Latin pccus, flock, tocks
and herds being equivalent 10 money origi-
nally. Casa Is from the French CdiSye, or
Golfer in which money was kept. The de-
rivauon of dollar is less automatically cstab
hshed Cent is from the Latin SkiM"g is
Saxon. Thus all vuations and ages have
contributed 10 furnish the everyday ,etms
of commerce.
Paper money is of comparatively modern
birth. 1t first appeared in the shape OF bills
of exchange and promisSory notes. Conn
mercial transactions in England are still cat
ried on, 10 n great extent, with these mcdl.
ums. Bank notes, in the United States,
have, however, almost mouopoli2cd the
term. Banks themselves are the invention
of Il quite recent period. The word bank
comes from hdnco, the Italian for bcuch, bc
cause dealers i'll money first sat on benches,
in the market.paces OF Italian towns, in the
middle ages. The Bank ot Venice, the pa
rent OF all other banks, was first established
A, y. MI, The bank of Amsterdam fol-
lowed, \, d. 1909 that of llaml ury \. II.
1919; and tha, of England, AID. 1894. The
earlier of these banks, however. were not
banks of Issue, hut of deposit and discount
only, In the United States, banks of issue
that is, banks which put forth paper money
prevail to Il greater extent than anywhere
else in the world.
The French COINS are, on the whole, the
most beautiful of those OF any modern ma
ton. There are few things, indeed, in
which there is more room for improvement;
for neither III design nor in execution, are
modern coins, i'll general, meritorous.-
lcistr.