chapter  II
27 Pages


T H E development of social life and especially the formation of states or sovereignties levying any form of taxation necessitated, in addition to a knowledge of numbers, a power of holding count and reckoning. In this we find the origin of the science of accounting. It antedated the stating of accounts as we understand them,—since that could not take place until some monetary standard had been adopted in which the items composing an account could be expressed in terms of equality.