ABSTRACT

Various things have been used for money and currency during human history, but mankind gradually came to the conclusion that the best form of money was one of the precious metals. A very dangerous position arose, and philosophers and thinkers began to speculate about it. These speculations can be studied in the ancient writings, for most of them are now translated. For the present purpose these economic speculations are enormously interesting. The ancient Indian writings deal with this phenomenon, debt. It was found that a creditor might more easily make a loan than obtain repayment. The Greeks also began to speculate on this, and if we read Aristotle's Politics it will be found that he examines some of the problems in quite a modern spirit. It is worthwhile to trace what has happened since as to the teaching and practice on this question of money loans. The Mosaic system contains an economic theory.