benterrett + paper + trade   1

Fractional-reserve banking - Wikipedia, the free encyclopedia
"At one time, people deposited gold coins and silver coins at goldsmiths, receiving in turn a note for their deposit. Once these notes became a trusted medium of exchange an early form of paper money was born, in the form of the goldsmiths' notes."
banks  banking  paper  money  trade 
september 2008 by benterrett

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