Trade
At the time of Aksum's minting of currency, the state already had a long trade history with Greece, Rome, the Persian Empire, and India. That coinage began so late is in fact a little surprising. The late use of coinage may be attributed to the lack of a developed economy, required for coinage to be accepted. Most Aksumite coins were found in the large trade centres with very few in remote villages, where trade would be more through barter and not coinage based. In fact, the motivation for Aksum's initial minting of coins was for foreign trade and markets, as evidenced by the use of Greek on most of its coins. Moreover, gold coins seem to have been intended primarily for external trade, while copper and silver coins probably mainly circulated within the Aksumite empire, as the gold issues generally specified "king of the Aksumites" as title of the Aksumite king, whereas the title of silver and copper issues generally only read "king." International use of Aksumite coins seems to have begun early on, as coins of King Ezana and even of King Aphilas (the second Aksumite ruler to issue coins) have been found in India.
Read more about this topic: Aksumite Currency
Famous quotes containing the word trade:
“...I lost myself in my work and never felt that marriage would give me the security I wanted. I thought that through the trade union movement we working women could get better conditions and security of mind.”
—Mary Anderson (18721964)
“With respect to a true culture and manhood, we are essentially provincial still, not metropolitan,mere Jonathans. We are provincial, because we do not find at home our standards; because we do not worship truth, but the reflection of truth; because we are warped and narrowed by an exclusive devotion to trade and commerce and manufacturers and agriculture and the like, which are but means, and not the end.”
—Henry David Thoreau (18171862)
“Though I have locked my gate on them
I pity all the young,
I know what devils trade they learn
From those they live among,
Their drink, their pitch and toss by day,
Their robbery by night....”
—William Butler Yeats (18651939)