THE ROLE OF BANKS (РОЛЬ БАНКОВ)The

THE ROLE OF BANKS (РОЛЬ БАНКОВ)

The following story is going to explain the role of banks. In the past most societies used different objects as money. Some of these were valuable because they were rare and beautiful, others- because they could be eaten or used. Early forms of money like these were used to buy goods. They were also used to pay for marriages, fines and debts. But although everyday objects were extremely practical kinds of cash in many ways, they had some disadvantages, too. For example, it was difficult to measure their value accurately, divide some of them into a wide range of amounts, keep some of them for a long time, use them to make financial plans for the future. For reasons such as these, some societies began to use another kind of money, that is, precious metals.

People used gold, gold bullion, as money. Those were dangerous times, and people wanted a safe place to keep their gold. So they deposited it with goldsmiths, people who worked with gold for jewellery and so on and also had a guarded vault to keep it safe in. And when people wanted some of their gold to pay for things with, they went and fetched it from the goldsmith.

Two developments turned these goldsmiths into bankers. The first was that people found it a lot easier to give the seller a letter than it was to fetch some gold and then physically hand it over to him. This letter transferred some of the gold they had at the goldsmith's to the seller. This letter we would nowadays call a cheque. And, of course, once these letters or cheques, became acceptable as a way of paying for goods, people felt that the gold they had deposited with the goldsmith, was just as good as gold in their own pockets. And as letters or cheques, were easier to carry around than gold, and a lot less dangerous, people started to say that their money holdings were what they had with them plus their deposits. So a system of deposits was started. The second development was that goldsmiths realized they had a great deal of unused gold lying in their vaults doing nothing. This development was actually of greater importance than the first.

Now let's turn to the first bank loan ever and see what happened. A firm asked a goldsmith for a loan. The goldsmith realized that some of the gold in his vault could be lent to the firm, and of course he asked the firm to pay it back later with a little interest. Of course, at that moment the goldsmith was short of gold, it wasn't actually his gold, but he reckoned it was unlikely that everyone who had deposited gold with him would want it back at the same time, at any rate – not before the firm had repaid him his gold with a little interest. He thought it safe enough.

Результаты (русский) 1:

РОЛЬ БАНКОВ (РОЛЬ БАНКОВ)Следующая история будет объяснить роль банков. В прошлом большинство обществ использовали разные объекты как деньги. Некоторые из них являются ценными, поскольку они были редкими и красивыми, другие - потому, что они могут быть съедены или использовать. Ранние формы денег, как они были использованы для покупки товаров. Они также используются для оплаты браков, штрафы и долги. Но хотя предметы быта являются чрезвычайно практичны виды наличных во многих отношениях, они имеют некоторые недостатки, слишком. Например было трудно точно измерить их ценность, разделяют некоторые из них в широкий диапазон сумм, держать некоторые из них в течение длительного времени, использовать их, чтобы сделать финансовые планы на будущее. По таким причинам, как эти некоторые общества стали использовать другой вид денег, то есть, драгоценные металлы. Люди использовали золото, золотые слитки, как деньги. Это были опасные времена, и люди хотят безопасное место, чтобы держать их золотом. Таким образом они сдали на хранение его с ювелиров, люди, которые работали с золотом для ювелирных изделий и так далее, а также имел охраняемом хранилище, чтобы держать его в безопасности. И когда люди хотели некоторые из их золота, чтобы платить за вещи, они пошли и fetched от ювелира.Two developments turned these goldsmiths into bankers. The first was that people found it a lot easier to give the seller a letter than it was to fetch some gold and then physically hand it over to him. This letter transferred some of the gold they had at the goldsmith's to the seller. This letter we would nowadays call a cheque. And, of course, once these letters or cheques, became acceptable as a way of paying for goods, people felt that the gold they had deposited with the goldsmith, was just as good as gold in their own pockets. And as letters or cheques, were easier to carry around than gold, and a lot less dangerous, people started to say that their money holdings were what they had with them plus their deposits. So a system of deposits was started. The second development was that goldsmiths realized they had a great deal of unused gold lying in their vaults doing nothing. This development was actually of greater importance than the first.Now let's turn to the first bank loan ever and see what happened. A firm asked a goldsmith for a loan. The goldsmith realized that some of the gold in his vault could be lent to the firm, and of course he asked the firm to pay it back later with a little interest. Of course, at that moment the goldsmith was short of gold, it wasn't actually his gold, but he reckoned it was unlikely that everyone who had deposited gold with him would want it back at the same time, at any rate – not before the firm had repaid him his gold with a little interest. He thought it safe enough.