Finance, capital or wealth: money rules the world. But how did it actually come about and who invented our francs?
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the essentials in brief
- Before paper money and coins, snail shells were used to pay.
- Lydians minted the first coins. Money came into the world through the Romans and Greeks.
- Napoleon brought the Franks to Switzerland.
Money, money, money – already sang ABBA. As in the song by the Swedish band, a lot of our lives revolve around said means of exchange. Food, clothes or rent: In our everyday life (almost) everything has a price tag.
Let’s look back: Stone Age, cavemen – there was no trace of credit cards or finances. Paying for services and items was a lot more complicated for our ancestors. Nau.ch tells you who actually invented money and how the franc came to Switzerland.
Pay with snails
Bartering existed even before we used francs, dollars and the like. Valuable items such as skins, food or materials were traded with other races or groups.
This «utility money» was later replaced by «sign money». The barterers needed an item that would last a long time and retain its value. Pearls, snails or shells were now treated as means of exchange. (Pearls were used as currency as early as 2000 BC in the South Pacific, North Africa or East Asia).
Precious metals experienced a real triumph. Gold and silver could be crushed and taken away, from which the first coins were made. The advantage: the coins had the same weight. So they were no longer weighed, but could be counted.
Finance like the old Lydians
There are many theories about the inventors of money. One thing is certain: the oldest coins ever found were minted by the Lydians around 650 BC. The Lydians lived in what is now Turkey. Archaeologists discovered that shortly after the Lydians, ancient Greece and the Romans also made coins.
The problem with coins? You weigh a lot. Paper notes are not heavy, even if they are of high value.
The first paper money came from China. People printed paper notes there around 1000 years ago during the Song Dynasty.
In Europe, banks began to take custody of coins and issue receipts for them from the 16th century. This is how the “securities” came into use in our country.
Swiss francs: An import product
The French are to blame. More specifically, Napoleon. He standardized the currencies in Switzerland and introduced “le franc suisse”.
Is money important to you?
43%
No, there are more important things.
2
No, there are more important things.
Later, the cantons were again responsible for finances and currencies. Only after the founding of Switzerland in 1848 did the federal government regulate the Swiss franc.
Money and finance play a central role in our society. But money is only really fun in the world of the rich. ABBA already knew that too.
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2023-06-06 07:18:21
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