Explain in detail the unit of measurement of Indus Valley Civilization and unit of exchange in the Vedic period.
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Explain in detail the following:
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Answer:
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 money 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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Currency, the pastoral nations of Central Asia still use cattle for this purpose. Tacitus tells us that the Frisians used to pay tribute to the Romans in hides of bulls (uri) and when the latter demanded bigger hides this led to a war between the two nations.
The use of these above-mentioned standards of value gave rise to difficulties, owing to the inconveniences caused by them. Thus in the case of the cow, variations in size or quality must give rise to difference in value. Consequently we must expect to find some more specifications as to the age, size, or milk-bearing capacity of the cow.
In the Brahmanas we find (Ait. Br. p. 59 Haug’a Trans) that in connection with the buying of Soma, a cow one year old and immaculate is put down as the standard price for Soma. In addition to this, there would be hardly any provision for the measurement of fractional parts i.e., half the value of the cow or a quarter of the same. The difficulty that arose between the Romars and the Frisians has already been referred to.
To solve these difficulties and to have a more convenient and portable standard, the use of the precious metals was introduced. In the earlier stages of the use of precious metals we have bars, ingots or lumps of gold and silver, of certain standard weights used as money. These had peculiar shapes and marks in different countries. Thus according to Walsh, in Greece the oldest coins were stamped with the figures of animals
Explanation:
PLEASE. MARK. THIS. AS. BRAINLIEST.