the receipt of goldsmiths became _____
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receipts of goldsmiths became negotiable and thus evolved into the bank note
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A Historical Perspective: Goldsmiths
After a time, these receipts themselves, rather than the gold that they represented, began to be traded for goods. The receipts became a form of paper money, making it unnecessary to go to the goldsmith to withdraw gold for a transaction.
After a time, these receipts themselves, rather than the gold that they represented, began to be traded for goods. The receipts became a form of paper money, making it unnecessary to go to the goldsmith to withdraw gold for a transaction.
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