That piece of wood above was used as money in the UK for 1000 years! it was introduced by King Henry around the year 1100 to collect taxes.
The largest side of the tally stick was known as the STOCK so in 1801 when the first currency exchange was created they called it the (LSE) then london stock exchange
Paper money was first issued by the bank of England in 1695 but the tally stick system was still much preferred due to its long history, But in 1826 the UK government decided to phase the tally stick out because the amount of debt it had amassed was beginning to become unsustainable using the tally system, Then in 1834 The government confiscated all remaining tally sticks and ordered that they be burnt in the furnace beneath the houses of parliament. The heat generated was clearly underestimated because during the process the houses of parliament caught fire and burned down!
Paper money has reigned supreme since then but much like the tally stick it has its limits, many countries have started what they call the war on cash in an effort to eradicate black markets and to bring in more taxes. The reason for this is that once again the debt has amassed to a level that is becoming unsustainable, faltering economies around the world are clear proof of this! The world is on the cusp of change again and this time its in the form of crypto currency.
Sources:
https://en.wikipedia.org/wiki/Tally_stick
https://en.wikipedia.org/wiki/London_Stock_Exchange
http://www.parliament.uk/about/living-heritage/building/palace/architecture/palacestructure/great-fire/
First 10 resteemes upvotedπ―% and drop me an upvote if you found this informative.
Good day to all :)
Nice work @daniel82! Resteemed, upvoted!
you really explained in true words resteemed and upvoted
Interesting info! Good post as usual!
What will be the money what we will use to pay in ten years later?
Resteem, upvote :)
Indeed cryptos are going to change the world soon !
Resteemed
Great work @daniel82!
Upvoted and resteemed!
@daniel82
Best Meaning Of Stock Market.I agree with your post.
Your Sources Link Is Good information. thanks mr.danial your post.
i resteemed and upvoted!
Resteemed and upvoted ! Thanks !
I totally agree with you. People soon will view money, economy and finces in totally different way! This is the beginning of revolution. Great post, resteemed.
Nice post and great work @daniel82 I appreciate your work wel done upvoted and resteemed with my followers..thanks..
I have learned something new.
Very interesting, I did not know that. I though stock came from livestock, would livestock somehow fit in here?
Thanks. Rstmd.
Nicely explained in simple word now Stock market is more understood able for me
More than 1000 years later and people still don't see that taxation is theft! Resteemed and Upvoted!
future is of bitcoin great post resteemed
Thanks you explained very well.
Good post. Bitcoin will fly to the moon lol. thanks for sharing
@daniel82,
OMG I never head this before and yeah really interesting article. Thank you very much for sharing with us! Really appreciate your effort!
Cheers~