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Money has had several incarnations. These have varied over time and space. A study of the evolution of money, the related circumstances, the working of various monetary standards is fascinating. But we resist the temptation and restrict ourselves to the present. At present in India money consists of coins, paper currency, and deposit money.
Coins are an example of metallic money. They are not full- bodied, but only token money, because the intrinsic (metallic) value of token coins is less than their face value. Currency notes are merely pieces of paper that have no intrinsic value of their own. They are not convertible into anything of value at a fixed rate. The issuing authority does not stand ready to buy them back against gold or silver or full-bodied gold or silver coins of equal value at a pre-determined price.
Thus, all paper currency is inconvertible. The legend carried on the face of a Reserve Bank of India (RBI) currency note of (say) ten rupees that ‘I promise to pay the bearer the sum of ten rupees’ (signed by the Governor, the RBI) is a carry-over from the past when currency notes were convertible into full-bodied silver rupees. Now it simply means that notes can be converted into other notes or token coins of equal value.
Money:
As in mathematics zero has its own value like that money has its own value. For living a luxurious life for human being money is very necessary thing. As the trees and animals are found in all places, in the same way everywhere we require money also. To live in society and to maintain our position and status in the society, we need money. For Eating food or drinking water, clothing, to enter in the school, or to take medicine for treatment in hospital or for other purposes, we need a lot of money. Now the question arises that how to obtain the necessary money. For this we have to work hard to and study well, so that we can get a good job or, we can open our own business.
In old time, due to rich persons pressure the poor people suffer many problems. Rich people’s did not respect poor people’s and give them salary in small amounts. But now due to government, there is a improve in the salary of poor people’s. Government given the every right to poor people’s also as equally to rich people’s. Now equal opportunity for education is given to poor people’s also, so that they can also get any good job. Many people think that money gives rise to the evil in people's minds; I don’t think so, because thinking is a function of the human body and not the money.
I understand and agree with that the money is very important for our joy, which God has gifted us. It totally depends on people’s how they use money as some people think that nothing is better than love but some person thinks that money is everything and for earning money they went against the laws. They can do any crime act such as murder, robbery, corruption, taking bribe etc. So, it totally depends on person to person how they make use of money.