New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-28
FINANCE ACCOMPLISHMENT
nv Marc VI. Reynolds.

,,irping to-day, The Tribune VIII pun
.arIes Of articles on the different
...r,s of finance and forms OF Invest
81 Embraced in this series VIII be an
n rS,or,e of the history Of money, the dif-
80 moneys in use to-day, the growth
- banking, banking systems OF Inherent
VI .1ens treasury systems Of the several
",,ntries. stock exchanges Of Europe and
,,oe1ca and the development OF Ameri-
- Investments. In the articles devoted
- The subject of American investment,
s.rds Of all classes and divisions, from
-o,srnment issues to the numerous
S,nds Of the period. will be considered.
o,ocks Of different forms, mortgages and
.Ss various classes Of corporations issuing
,h.ro will b reviewed No reference to
any special corporation or security Will
$. made, but the aim will be to supply
-l,,nle rules which may be applied to
cry security offered for public partici-
Tim. so that each reader will be quail
al 10 discriminate and select the good
I,yestments from the doubtful issue. The
question Of how to invest money interests
ovory business man and wage Garner.
Within the last few years the small in
ysstor has been considered by the cor
variations bringing out bond issues, and
some of the offerings afford an opportu
plty for investing money which formerly
WAS not presented to American investors
Of the smaller class. The desire for
higher income stocks and bonds has
brought into the investment field new
forms Of corporate issues, and now more
than ever every person of intelligence
should be familiar with certain informa-
ton which may prevent losses from indis-
crimnate purchasing of stocks and
bonds,
History of Money.
The definition of money admits some de-
hate, 60 no attempt at defining money
except as a medium Of exchange will be
used in this connection. The very early
use Of money dates back before the era
OF written history, and the form Of money
then in use was in gold, silver and cop
per pieces Iron and lead were also used
in the Greek and Roman periods, and lead
continued to be used in Burmah down to
the present century. The early Hebrew
coins were composed chiefly OF copper,
and down to 269 b. G. the entire Roman
coinage was an alloy of copper. Tin was
used in the early English coinages, due
to the fertile tin mines of Cornwall. Sill
yer formed the chief basis OF Greek coins.
and was introduced into Rome in 269
B. c. Most of the medieval money was
composed OF silver. The first introduction
Of gold coins in England was in 1851.
Prior 10 the fourteenth century gold held
no superior position to silver. but since
that period there has been a gradual
movement toward an appreciation of gold
compared with silver in the coinage of
money.
The earliest known coins were issued by
the Greeks in the seventh century prior
to the Christian era. BY the beginning of
the fourth century money was in general
use and each distinct country had its
Individual coinage. 1t is safe to say that
during the centuries since the first coin
age Of gold, silver, copper. iron and lead,
up to the present time more than three
hundred thousand varieties of coins have
been collected which are to-day preserved
in the numerous museums Of the world.
Much Of the value of the early coins OF
nations TO the consecutive periods down
to the present is their historical value.
Many Of those coins were issued before
the time Of authentic general history, and
now supply the outlines Of their periods
OF history that otherwise would have been
lost.
First Paper Money.
The oldest bank notes similar to those
in use in our present time, 10 which there
Is any reference, were issued in China
about two thousand years b. c. The
popular name of this paper currency at
that time was flying money or con
venisnt money" On the bills issued were
notices, one Of which read Produce all
you can, spend with economy" The bills
bore the name Of the bank, number Of
the note, value, place OF issue, date, sig
nature and the names Of the home OFF,
GERS A specimen Of this money issued
In 1899 B. c. is preserved In the Asiatic
Museum, 81. Petersburg. II is printed in
blue ink
The first forms Of money in general use
by the early settlers OF America consisted
Of tobacco. bearskins and shells made
into wsmpumpeague. The development Of
money in the United States will be pub
lishsd In next Mondays Issue Of The
Tribune.