Ask Question
10 June, 16:37

The goldsmith's ability to create money was based on the fact that:

+1
Answers (1)
  1. 10 June, 19:12
    0
    The goldsmith's ability to create money was based on the fact that: Paper money in the form of gold receipts was rarely redeemed for gold

    Because of this phenomenon, our earlier civilization obtains the idea to opened an institution that would transfer the equity from one hand to another which we commonly knew as the Banking System.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The goldsmith's ability to create money was based on the fact that: ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers