Attractions of wealth!
How wealth started attracting man?
Attractions towards wealth dates back to the period when people started exchanging one kind of goods to other kind. Thus vegetables and fruits were exchanged for paddy and grains. These exchanges took place in a common place as well as at the door steps of people. It was the period when coins and currency were not invented. When people got access to metals, they found that the metals could be exchanged for some goods. Copper or brass pieces were exchanged for paddy, grains and other essential articles needed for day to day life. Milk was sold in exchange for paddy. This was known as ‘barter system’ in that time. But there was a problem. People have to carry weights in order to barter for some other items. This was cumbersome. Hence the Officials in charge of administration in Kingdoms which comprised many villages were taught of an easy way to purchase goods for common valued metals with imprints of Royal seal and the value of exchange. Thus copper coins cut to shape with engraved symbols of Kingdom were started circulating. This made the barter system easy. People need to carry only small copper or nickel or brass coins which had their inherent valued engraved on them.
Thus started trading system. Soon precious metals were extracted and they were stored in the treasury of the King. They were silver and gold coins. When ships started sailing across countries, trade between countries flourished. Though initially, condiments and spices were given in exchange to pearls and other precious metals. When there was advancement in civilizations, machines were invented to manufacture goods in large quantities in quick time compared to manual labor. Wages have to be paid to the workers. By that time paper currencies have been printed with the invention of printing machines. It was valid within a particular country. For external trades, gold and silver coins were found to be exchangeable and they were valued in trade. The accumulation of wealth with the traders created a class of rich and poor. The Officials of the King were wielding powers and thus started special favors from the Kingdom. Then gifts were given to the Officers of the King and that was the starting point for corruption in the ancient time. With the flourishing of trading, laws were enacted for commerce and other dealings. Taxes were collected from the traders to sustain the kingdom. Almost all people were taxed such as agricultural tax, wealth tax, entry tax into a country etc.
Thus people got attracted to money. Cattle wealth was essential to sustain the economy of the village. Oxen were utilized in cultivation. Lands were cultivated on behalf of the Kingdom and paddy was handed over to the Kingdom and the laborers were paid with the paddy itself. Cattle were exchanged for goods and money. People stated accumulating precious metals and they were found to be an asset which can be stored in the houses in pots and under the floor. People started advancing money on loan to the poor and they have collected charges for advancing money against pledging of silver or other valuable items including vessels etc., Thus the system of money lending started. People found that money is the greatest wealth and those who possessed more money were considered powerful in society. Thus started the rat race to accumulate money. Rest in next hub.