Question

Why do the receipts of the goldsmith
work as money?
8th class ​

Answer 1

Explanation:

Receipt of the goldsmith worked as money because it was difficult to carry gold everywhere as it could be stolen very easily. Explanation: The history of money involves gold. The whole monetary system began through gold.

Answer 2

So safekeeping services work this way – the goldsmith has a vault, and people come and they put their gold in the vaults, and the goldsmith gives people receipts, and the receipts tell you how much you are able to withdrawal from the goldsmith later. ... So the goldsmith can make money by lending gold to others..❤️⭐❤️