2[B].ppt

Use of Gold in Spring-Autumn Warring States 1.Function of Gold prior to Qin ●Unit of Account: ☆ Yi was unit of gold (1 Yi 镒=20Taels) (later Jin 斤=16Taels) . ☆ Many goods valued by gold, eg. “1000-jin sword”. ●Medium of Exchange, Means of Payment: ☆ Gold was used in bulk trade, nobles buying valuable things. ☆ Many rewards were paid at gold, eg.,King to officials. ●Store of Value: ☆ Gold no fixed form, kept at home as precious utensils or articles. ☆ Usual shape of gold: in bar, block or round cake. Various Types Prior to Qin 2.Changes of Gold as Money ●Status/grade that gold had as money ◎Jade upper money,gold medium,knife/spade lower (Guanzi). ◎Gold,upper money;Copper,lower. (Reform of Qin Dyn.) ●Monetary system on gold ◎Standard currency in Qin and Western Han; later not. ◎In following dyn.,gold only as way of storing value, not popular. ●No fixed types of gold as money ◎Measuring of weight, crude/rough (in shape of bar/block). ◎Unit of gold varied in states: yi(=24/20Taels);jin(=16Taels). In Qin Dyn.unit standardized (yi); in Han Dyn.jin replaced yi. 3.Classification of Gold ◎Top class: pure gold (yellow gold in Chinese) ◎Medium class: platina / alloy of silver, tin and lead (white gold in Chinese). ◎Lower class: pure copper (red in Chinese) Capter TwoCurrency Credit in Spring-Autumn and Warring States Periods Credit Policies and Activities 1.Occurrence of Credit ●The Reason or Condition for Emergence of Credit ◎Credit, means borrowing and lending. The act happened in Primary Society, with two following conditions: ☆ Private properties(private ownership). ☆ Polarization in social classes: the poor borrowed from the rich. ◎The ways of credit(debit credit). ☆ Goods credit: original form of credit, borrowing necessities. ☆ Currency credit: more efficient, expanding scale of credit . 2. Activities Institutions of Credit in Ancient China ●Reasons for Credit Activiti