Question:

Who ivented dollar bills?

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Who ivented dollar bills?

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  1. The Chinese seem to have been the first to develop the idea of government issued paper money.

    http://library.thinkquest.org/23062/mone...


  2. The use of paper currency evolved from the use of metal coins.  Over time, coins proved expensive to create, carry, and circulate.  The US dollar, as well as several other currencies, has its origins in the Thaler.  "Thaler" is an abbreviation of "Joachimsthaler", a coin type from the city of Joachimsthal in Bohemia, where some of the first such coins were minted in 1518.

    Paper money originated as nothing more than a negotiable instrument that can be presented at a bank and exchanged for the equivalent amount of gold denoted on the face of the note.  Paper money originated in two forms: drafts, which are receipts for value held on account, and "bills", which were issued with a promise to convert at a later date.

    Money in general originated as a result of the expensive demands of a barter economy.  ie - coins and paper with value assigned were much cheaper to exchange than tons of grain or livestock.  Transactions were enabled by the freedom to exchange the currency for items without having a coincidence of wants (ie I have the exact item and quantity you want, you have the exact item and quantity I want; therefore we can do business) and the means to transport large quantities of items.  

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