4. The animal commonly used as a unit of exchange
in the Early Vedic Period
Answers
Answer:
The cow was the standard of value in Rome, and thus came the word Pecunia, (originally meaning cattle) to mean money in which sense it is used in later Latin literature. ADVERTISEMENTS: Currency, the pastoral nations of Central Asia still use cattle for this purpose.
Answer:
The cow was the standard of value in Rome, and thus came the word Pecunia, (originally meaning cattle) to mean money in which sense it is used in later Latin literature. ADVERTISEMENTS: Currency, the pastoral nations of Central Asia still use cattle for this purpose.
Explanation:
In the earliest period of the history of human culture, all exchange was by barter i.e., the exchange of one article for another. This was the stage of simple barter. Next to it we have generally a second pre-metallic stage, in which the medium of exchange is some article commonly found and being valued for its utility, becomes the measure of value. In the history of various races, we find the existence of such standards. Thus in Homer we find the use of oxen as standards of value.
Gardiner the author of the history of “Ancient Greek Coinage” illustrating this point quotes the Homeric lines “Arms worth a hundred kine for arms worth nine.” In the laws of Rome, fines were assessed in oxen. The cow was the standard of value in Rome, and thus came the word Pecunia, (originally meaning cattle) to mean m
oney in which sense it is used in later Latin literature.
In addition to the cattle-standard we know of the use of cubes of tea in modern Turkestan, of shells in India and China, of yards of cloth in modern Africa, as standards of value. According to Walsh the author of the history of Metallic
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