Interesting Facts About Money
No money- No Life……. it’s a fact and practical facet of our live. In this article I am going to figure out some important fact about Money..
1. Tax collections in Egypt and Mesopotamia have become very easy when they started using the silver and the gold bars as their currency in near about 2500 B.C.
2. All of us have filed for tax this month, but do you know this ritual is as old as 5,000 years. Egyptians have started these rituals of paying taxes for their labor and goods.
3. Theft has become common by the invention of money. Temples have become the prime target as it is commonly visited by everyone including thieves.
4. By the year 1750 B.C., the priests of the Babylonian temple had begun issuing loans to the locals.
5. Banca Monte dei Paschi di Siena bank is the oldest surviving bank in the world. It was founded in Italy in the year 1472
6. Do you know that the paper money was originated from China in the 13th century?
7. Because of the skyrocketing inflation due to the churning of huge money, the paper bills have ultimately gone from China during 15th century.
8. The entire bills and coins of US in general circulation have a net worth of around $829 billion today.
9. The paper which was used for the U.S. bills is not made from trees. It has 75 percent of cotton and rest is linen.
10. In the year 1949 Frank X. McNamara with his friends went for a dinner in the New York City. But unfortunately, he forgot to bring cash. He was so embarrassed that night that he decided and created the Diners Club Card. It was the first credit card.