Glimpses of history of money

At different periods of time and in different parts of the world many different commodities have served as money. These commodities were: cattle, sheep, furs, leather, fish, tobacco, tea, salt, shells etc. The experts underline that to serve effectively as money, a commodity should be fairly durable, easily divisible, and portable. None of the above-mentioned commodities possessed all these qualities, and in time they were superseded by precious metals.

First they were superseded by silver and later by gold.

When a payment was made the metal was first weighed out. The next stage was the cutting of the metal into pieces of definite weight and so coins came into use.

Paper money first came into use in the form of receipts given by goldsmiths in exchange for deposits of silver and gold coins. After goldsmiths became bankers their receipts became banknotes. That's how the first banknotes came into existence. At first coins were worth their face value as metal. But later token coins of limited value as legal tender were issued. Now smaller denomination coins are made from bronze and are often referred to as coppers. Bigger denomination coins are made from cupronickel and are usually called silver.

1. What commodities served as money in the past ?

2. What are the requirements of a commodity to serve as money ?

3. Why did precious metals start to serve as money ?

4. What precious metal was used first to serve as money ?

5. What precious metal was used then ?

6. How did coins come into existence ?

7. How did paper banknotes come into existence ?

8. What coins are called silver ?

9. What are coppers ?

2. Поставьте глагол в соответствующее время, форму и залог.

1. Please, open the door. Somebody (to knock). 2. Denise was hurt when she (to play) basketball. 3. He hopes he (to find) the clue to this case. 4. A correspondent usually (to visit) a lot of places. 5. What duties you (to have)? 6. This house (to be sold) yesterday. 7. What time he always (to leave) for work? 8. Erich (to hide) the letter before his mother entered the room. 9. Sue (to finish) the housework by the evening today. 10. Vegetables (to be bought) at the greengrocer’s.

3. Раскройте скобки, употребив соответствующую глагольную форму в сложноподчиненных предложениях с придаточным условия или времени. Переведите предложения на русский язык.

1. If the dog keeps barking, the neighbours (to complain). 2. The boss will be angry if you (to arrive) late. 3. You would learn English more easily if you (to study) a little every day. 4. We would have had a party if Alan (to pass) his driving test. 5. You (to wait) until he comes back? 6. If I had found the book, I (to let) you know. 7. Let’s drop at the café after we (to do) the sightseeing. 8. As soon as the lesson (to end), I will go home. 9. I wouldn’t have bought that dress if it (to be) expensive. 10. If they (not to give) him the job, I don’t know what he will do.