Paper currency or banknotes are pieces of paper that carry a payment promise for the currency written on them and which is payable to the bearer on demand. At the beginning, banknotes were issued by commercial banks that backed their value by holding reserves of gold and silver coins. Nowadays, its value is fiduciary, it is not backed by any physical good of the same value.
The development of paper currency by Song's dinasty meant a considerable improvement from merchants and traders at those times. Paper money was much easier to transport if compared to coins, both in terms of size and weight. Merchants could travel for a longer time carrying their profits with them on the way and became more efficient in their businesses.
<span>“Black Tuesday” </span>October 29, 1929 – 1941
Representative Democracy........
The united states' govt is known as a representative Democracy.
Answer:
Its strong military was able to defeat other nations.
There are many great reasons why we made our government the way we did.(Then put your 3 reasons)
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