Cash refers to money Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment in the physical form of currency In economics, the term currency can refer to a particular currency, for example Pound Sterling, or to the coins and banknotes of a particular currency, which comprise the physical aspects of a nation's money supply. The other part of a nation's money supply consists of money deposited in banks , ownership of which can be transferred by means of, such as banknotes A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. Along with coins, banknotes make up the cash or bearer forms of all modern fiat money. With the exception of non-circulating high-value or precious metal commemorative issues, and coins Coins are usually metal or a metallic material and sometimes made of synthetic materials, usually in the shape of a disc, and most often issued by a government. Coins are used as a form of money in transactions of various kinds, from the everyday circulation coins to the storage of large numbers of bullion coins. In the present day, coins and. The word has various claims for sources. Some claim that the word comes from the modern French French is a Romance language spoken as a first language by about 136 million people worldwide. Around 190 million people speak French as a second language, and an additional 200 million speak it as an acquired foreign language. French speaking communities are present in 57 countries and territories. Most native speakers of the language live in word caisse, which means "money box Piggy bank is the traditional name of a coin accumulation and storage receptacle; it is most often, but not exclusively, used by children. The piggy bank is known to collectors as a "still bank" as opposed to the "mechanical banks" popular in the early 20th century. These items are also often used by corporations for", coming from Provençal word caissa, from the Italian Italian ( italiano , or lingua italiana) is a Romance language spoken as a native language by about 70 million people in Italy, San Marino and parts of Switzerland, Croatia, Slovenia and France. In addition, it is spoken by an additional 120 to 150 million people as a non-native language. Most native speakers are native bilinguals of both cassa, from the Latin capsa which means "box". In the 18th century However, Western historians may sometimes specifically define the 18th century otherwise for the purposes of their work. For example, the "short" 18th century may be defined as 1715–1789, denoting the period of time between the death of Louis XIV of France and the start of the French Revolution with an emphasis on directly, the word passed to refer to the money instead of the actual box containing it. Used as a verb it means "to convert to cash"; for example in the expression "to cash a check". [1] Another claim is that it was derived from Tamil Tamil (தமிழ் tamiḻ; [t̪ɐmɨɻ] ) is a Dravidian language spoken predominantly by Tamil people of the Indian subcontinent. It has official status in the Indian state of Tamil Nadu and in the Indian union territory of Puducherry. Tamil is also an official language of Sri Lanka and Singapore. It is one of the twenty-two scheduled word kasu - காசு meaning a coin by East India Company The East India Company was an early English joint-stock company that was formed initially for pursuing trade with the East Indies, but that ended up trading mainly with the Indian subcontinent and China. The oldest among several similarly formed European East India Companies, the Company was granted an English Royal Charter, under the name.[2] In bookkeeping and finance Finance is the science of funds management. The general areas of finance are business finance, personal finance, and public finance. Finance includes saving money and often includes lending money. The field of finance deals with the concepts of time, money, and risk and how they are interrelated. It also deals with how money is spent and budgeted, "cash" refers to current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately (as in the case of money market The money market is a component of the financial markets for assets involved in short-term borrowing and lending with original maturities of one year or shorter time frames. Trading in the money markets involves Treasury bills, commercial paper, bankers' acceptances, certificates of deposit, federal funds, and short-lived mortgage- and asset- accounts). Cash is seen either as a reserve for payments, in case of a structural or incidental negative cash flow Cash flow is a generic term used differently depending on the context. It may be defined by users for their own purposes. It can refer to actual past flows, or to projected future flows. It can refer to the total of all the flows involved or to only a subset of those flows. Subset terms include 'net cash flow', operating cash flow and free cash or as a way to avoid a downturn on financial markets.
Contents |
History
Initially East India Company coins were minted in England and shipped to the East. In England over time the word ‘Cash’ was adopted from the Tamil word “Kasu”, meaning ‘a coin’. East India Company coinage had both Urdu and English writing on it, to facilitate its use within trade. In 1671 the directors of The East India Company ordered a mint to be established at Bombay, known as Bombain. In 1677 this was sanctioned by The Crown, the coins, having received royal sanction were struck as silver Rupees; the inscription runs The Rupee of Bombaim, by authority of Charles II.
At about this time coins were also being produced for The East India Company at the Madras mint. The currency at The Company’s Bombay and Bengal administrative regions was The Rupee. At Madras, however, The Company’s accounts were reckoned in “Pagodas”, “Fractions”, “Fanam”, “Faluce” and “Cash”. This system was maintained until 1818 when the Rupee was adopted as the unit of currency for The Company’s operations, the relation between the two systems being 1 Pagoda equaling 3-91 Rupees and 1 Rupee equaling 12 Fanams
In Western Europe, after the collapse of the Western Roman empire, coins, silver jewelry and hacksilver Hacksilver, or Hack-silver, fragments of cut metal used as currency by weight in Norsemen trade; in this respect the modern word "ruble" refers to the practice of the Rus, described by Ahmad ibn Fadlan visiting the Volga Vikings in 922. The word is derived from the Russian verb рубить, rubit, i.e., to chop. An example of the (silver objects hacked into pieces) were for centuries the only form of money, until Venetian merchants started using silver bars for large transactions in the early Middle Ages. In a separate development, Venetian merchants started using paper bills, instructing their banker Banking is generally a highly regulated industry, and government restrictions on financial activities by banks have varied over time and location. The current set of global bank capital standards are called Basel II. In some countries such as Germany, banks have historically owned major stakes in industrial corporations while in other countries to make payments. Similar marked silver bars were in use in lands where the Venetian merchants had established representative offices. The Byzantine empire Byzantium was an ancient Greek city, founded by Greek colonists from Megara in 667 BCE and named after their king Byzas (Greek: Βύζας, Býzas, genitive Βύζαντος, Býzantos). The name Byzantium is a Latinization of the original name Byzantion. The city was later renamed Constantinople and briefly became the imperial residence of the and several states in the Balkan The Balkans is a geopolitical and cultural region of southeastern Europe. The region takes its name from the Balkan Mountains, which run through the centre of Bulgaria into eastern Serbia. The region has a combined area of 550,000 km2 (212,000 sq mi) and a population of 55 million people.[citation needed] area and Russia also used marked silver bars for large payments. As the world economy developed and silver supplies increased, in particular after the colonization of South America, coins became larger and a standard coin for international payment developed from the 15th century: the Spanish and Spanish colonial coin of 8 reales The word peso was the name of a coin that originated in Spain and became of immense importance internationally. Peso is now the name of the monetary unit of several former Spanish colonies. Its counterpart in gold was the Venetian ducat The ducat is a gold coin that was used as a trade currency throughout Europe before World War I. Its weight is 3.4909 grams of .986 gold, which is 0.1107 troy ounce, AGW, actual gold weight.[citation needed].
Coin types would compete for markets. By conquering foreign markets, the issuing rulers would enjoy extra income from seigniorage In macroeconomics, seigniorage is regarded as a form of inflation tax, as paying for government services by issuing new currency has the effect of creating a de facto tax that falls on those who hold the existing currency, as a result of its effective devaluation through the introduction of additional money (the difference between the value of the coin and the value of the metal the coin was made of). Successful coin types of high nobility would be copied by lower nobility for seigniorage. Imitations were usually of a lower weight, undermining the popularity of the original. As feudal states coalesced into kingdoms, imitation of silver types abated, but gold coins, in particular the gold ducat and the gold florin were still issued as trade coins: coins without a fixed value, going by weight. Colonial powers also sought to take away market share from Spain by issuing trade coin equivalents of silver Spanish coins, without much success.
Meanwhile, paper money had been developed. At first, it was thought of as emergency issues, so that they were most popular in the colonies of European powers. In the 18th century, important paper issues were made in colonies such as Ceylon As a result of its location in the path of major sea routes, Sri Lanka is a strategic naval link between West Asia and South East Asia.[citation needed] It has also been a center of the Buddhist religion and culture from ancient times and is one of the few remaining abodes of Buddhism in South Asia, including Ladakh, Bhutan and the Chittagong Hill and the bordering colonies of Essequibo Essequibo was from 1616 to 1814 a Dutch colony in the region of the Essequibo river on the north coast of South America. The colony formed a part of the colonies that are known under the collective name of Dutch Guyana, Demerara Demerara is a region in South America that began as a Dutch colony in 1611, then was captured by the British in 1796. It was located about the lower courses of the Demerara River, and its main town was Georgetown and Berbice Berbice is a region in Guyana, South America, sometimes known as the "ancient county". The Berbice River runs through it. It is a former Dutch colony, as is evidenced by the existence of the now extinct Berbice Creole Dutch. John Law John Law (baptised 21 April 1671 – died 21 March 1729) was a Scottish economist who believed that money was only a means of exchange that did not constitute wealth in itself and that national wealth depended on trade did pioneering work on banknotes with the Banque Royale. However, the relation between money supply In economics, the money supply or money stock, is the total amount of money available in an economy at a particular point in time. There are several ways to define "money," but standard measures usually include currency in circulation and demand deposits and inflation was still imperfectly understood and the bank went under, while its notes became worthless when they were over-issued. The lessons learned were applied to the Bank of England, which played a crucial role in financing Wellington Field Marshal Arthur Wellesley, 1st Duke of Wellington, KG, KP, GCB, GCH, PC, FRS , was an Anglo-Irish soldier and statesman, and one of the leading military and political figures of the nineteenth century. He is often referred to as simply "The Duke of Wellington", even after his death, when there have been subsequent Dukes of's Peninsular war The Peninsular War was a contest between France and the allied powers of Spain, the United Kingdom, and Portugal for control of the Iberian Peninsula during the Napoleonic Wars. The war began when French armies invaded Portugal in 1807 and Spain in 1808 and lasted until the Sixth Coalition defeated Napoleon in 1814, against French troops, hamstrung by a metallic Franc de Germinal.
The ability to create paper money made nation-states responsible for the management of inflation In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time. When the price level rises, each unit of currency buys fewer goods and services; consequently, inflation is also an erosion in the purchasing power of money – a loss of real value in the internal medium of exchange and unit, through control of the money supply In economics, the money supply or money stock, is the total amount of money available in an economy at a particular point in time. There are several ways to define "money," but standard measures usually include currency in circulation and demand deposits. It also made a direct relation between the metal of the coin and its denomination superfluous. From 1816, coins generally became token money, though some large silver and gold coins remained standard coins until 1927. The first world war saw standard coins disappear to a very large extent. Afterwards, standard gold coins, mainly British sovereigns, would still be used in colonies and less developed economies and silver Maria Theresa thalers Since 1780, the coin has always been dated 1780. On September 19, 1857, Emperor Francis Joseph of Austria declared the Maria Theresa Taler to be an official trade coinage. A little over a year later, on October 31, 1858, the Maria Theresa Taler lost its status as currency in Austria dated 1780 would be struck as trade coins for countries in East Asia until 1946 and possibly later locally.
Cash has now become a very small part of the money supply. Its remaining role is to provide a form of currency storage and payment for those who do not wish to take part in other systems, and make small payments conveniently and promptly, though this latter role is being replaced more and more frequently by electronic forms of payment A payment is the transfer of wealth from one party to another. A payment is usually made in exchange for the provision of goods, services or both, or to fulfill a legal obligation.
Further reading
- Clyn Davies - A History of Money From Ancient Times to the Present Day (University of Wales Press, 1994) ISBN 0-7083-1351-5
- Peter Spufford - How rarely did medieval merchants use coin? (Geldmuseum, Utrecht, 2008) ISBN 978-90-73882-21-8
See also
- Legal Tender Legal tender or forced tender is an offered payment that, by law, cannot be refused in settlement of a debt, and have the debt remain in force. Currency is the most common form of legal tender
- Cash (currency) The cash is a name for several historical currencies used in Asia. It is applied to units used in China, Vietnam, and Madras in British India. It is also occasionally used to refer to the Korean mun and the Japanese mon, several historical currencies used in Asia
- Cash seal (China) Cash seal , is a kind of special seal used particularly in cash authority, or just on paper money or banknotes. It was also one of first three means that China invented first to distinguish real and fake paper money
- Cash register A cash register or till (British English) is a mechanical or electronic device for calculating and recording sales transactions, and an attached cash drawer for storing cash. The cash register also usually prints a receipt for the customer
- Cash transfers
- Cash and cash equivalents Cash and cash equivalents are the most liquid assets found within the asset portion of a company's balance sheet. Cash equivalents are assets that are readily convertible into cash, such as money market holdings, short-term government bonds or Treasury bills, marketable securities and commercial paper. Cash equivalents are distinguished from other
- Cash flow Cash flow is a generic term used differently depending on the context. It may be defined by users for their own purposes. It can refer to actual past flows, or to projected future flows. It can refer to the total of all the flows involved or to only a subset of those flows. Subset terms include 'net cash flow', operating cash flow and free cash
- Cash counter A banknote counter is a device designed primarily to accurately count a quantity of banknotes. Additionally, a banknote counter may sort banknotes into batches and check for damaged or counterfeit notes
- Cash management In United States banking, cash management, or treasury management, is a marketing term for certain services offered primarily to larger business customers. It may be used to describe all bank accounts provided to businesses of a certain size, but it is more often used to describe specific services such as cash concentration, zero balance
- Petty cash Petty cash is a small amount of discretionary funds in the form of cash used for expenditures where it is not sensible to make the disbursement by check, because of the inconvenience and costs of writing, signing and then cashing the check
References
- ^ http://www.etymonline.com/index.php?search=cash&searchmode=none
- ^ http://www.theeastindiacompany.com/24/story-of-cash?iframe=true&width=800&height=400
Categories: Money | Tamil words and phrases Categories: Words and phrases by language | Tamil language
Personal tools
- New features
- Log in / create account
Namespaces
- Article
- Discussion
Variants
Views
- Read
- Edit
- View history
Actions
Navigation
- Main page A man engaged in waterskiing, a sport in which an individual is pulled behind a boat or a cable ski installation on a body of water, skimming the surface. Waterskiing is a relatively young sport, having been invented in the early 20th century. The skis this person is wearing are specialized for ski jumping
- Contents A portal is an introductory page for a given topic. It complements the main article of the subject by introducing the reader to key articles, images, and categories that further describe the subject. They also include to-do lists that are used mostly by Wikipedia's editors
- Featured content Featured content represents the best that Wikipedia has to offer. These are the articles, pictures, and other contributions that showcase the polished result of the collaborative efforts that drive Wikipedia. All featured content undergoes a thorough review process to ensure that it meets the highest standards and can serve as an example of our
- Current events Worldwide current events | Topic-specific: Science and technology | Sports
- Random article
Interaction
- About Wikipedia
- Community portal
- Recent changes
- Contact Wikipedia
- Donate to Wikipedia
- Help
Toolbox
- What links here
- Related changes
- Upload file
- Special pages
- Permanent link
- Cite this page
Print/export
- Create a book
- Download as PDF
- Printable version
Languages
- Česky
- Deutsch
- Español
- Euskara
- فارسی
- 한국어
- Italiano
- עברית
- Lëtzebuergesch
- Nederlands
- 日本語
- Polski
- Português
- Русский
- Simple English
- Svenska
- Українська
- 中文