Earliest Forms of Banking
Wealth is deposited and kept in temples; in thêsaurus (treasure houses) and treasuries, where safety is afforded by the will of the gods. The earliest banks were used exclusively by rulers to fund the more important and larger festivals and for building expenses.
All secure knowledge of the origin of the abacus is lost. By the time of the ancient Hindus, Greeks and Romans a form of counting calculation was in use, initially the dust abacus and later the counting table. The term originally referred to table, bench or board.
Read more about this topic: History Of Banking
Famous quotes containing the words earliest, forms and/or banking:
“From my earliest days I have enjoyed an attractive impediment in my speech. I have never permitted the use of the word “stammer.” I can’t say it myself.”
—Patrick Campbell (1913–1980)
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