Money and Penny

When was the first credit card made? Where does the term ‘Bank’ comes form? What nation used paper money for the first time? Do you know the answers to these questions? If you don’t, read on!

· The first credit card was issued by American Express in 1951. In the same year, diners club issued credit cards to 200 customers who could use the card at 27 restaurants in new york.

· The Spanish peso, Italian lira, and English Pound are three currencies that originally referred to measurements of certain weights. The English pound, for example, came from a certain amount of silver weighing a pound.

· Tip is the acronym for “to insure promptness.” So if you feel that you have been promptly served, you may show your appreciation and satisfaction by rewarding the server a tip that is usually in form of money.

· According to history and ancient literature, Indonesians living in the 7^th century were familiar with the function of money. The money, coins of gold or silver, took serveral different shapes such as half circle, square, and button-like.

· People never thought of using paper for money. The first bank notes were made in China in the 7^th century. When most countries still put their trust in metal coins such as gold and silver, chinese had been using paper money as a legal payment since the reign of emperor hien tsung 806-821. The idea of using paper was also triggered by the shortage of copper to make coins.

· The world’s largest coins in size and standard value, were copper plates used in alaska arround 1850. They were about a meter long, were half a meter wide, weighted 40 kg, and were worth $2.50.

· The world ‘Bank’ that we now know was taken from Italian. In the middle ages, Italian money changers did their business on benches set on the street. The Italian word for branch is banco, from which the word bank was acquired.

· The first established modern bank was believed to be banco di rialto, which began to operate in venice, Italy in 1587. It accepted deposites and permitted bank clients to write checks againts their money.

· Australians are the heaviest gamblers in the world. It is estimated that 82% of australians gamble. This ‘achievement’ is supported by the fact that while Australia has only 1% of the world population, 20% of the world’s poker machines operate in Australia.

· The world money came fom the name of an ancient roman goddess, juno moneta. The world moneta which later was adapted into money by the europeans, derived from the latin world moneo, meaning ‘to warm’. The romans were grateful because the goddess warned them of upcoming dangers. To express their gratitude, the romans put their mint in her temple and made her their guardian of economy at the same time.

· The term blue chips for high ranked shares issued by big companies in stock exchange, refers to the color of the poker chip with the highest value, blue. (c’ns volume 3 no 21)