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The Importance of Banking System in the Country's Economical Life
File size:
8 KB
ID number:
983351
Evaluation:
Published: 24.11.1999.
Language: English
Level: College/University
Literature: 4 units
References: Not used
Extract

Long time ago first banking system started in the same time as buying and selling. Foreign travelers had to change the money for buying things, and that is why in some countries started to enter a foreign money and this money needed to be changed. People changed this money in market places. History tells us that the first money changers were Italians.To change money they used a table which stood in this market place.There is a version that the word BANK was created from italian word BANCO whic means - a table.
If some person, in money changing process, was caught in cheating, his table was broken , this was a punishment for the cheating man and means a bancrupt.
In old times people traveled arround with big amounts of gold, money and expencive jewelry.That was no safe, because on roads there were many people who wanted to stole this gold and money. Then people thought about ways how to protect their money from thiefs.…

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