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China was the first to use "Paper" money or exchange notes. Five hundred years before eroupe used it.
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The currency value completly dropped off and they would not readopt paper money intill five hundred years later
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A man named named Johan Palmstruch created the first mondern day bank note. He issused notes that could be trade by others and then brought to his bank to be exchnaged for gold or silver
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Johan issued too many notes and did not have enough silver and gold to back it so the bank collapsed
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The U.S currency was created to become more independnt from Britin. It was gold backed
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The confederacy issued its bill called greyback. It was not backed by anything other then the promise to pay all after the south won the war. It value drop majorly after they started to lose. It now worth alot of moeny though to collecters
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Nixion stoped dirrect conversion of gold to dollar.
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Most eroupean contry started to switch from the gold standard and to the fiat system.
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The eroupean unit of accout was created to make international trade easier
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This was created to Eroupean unit of account.
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Euro was created to replace ECU. Euro is what they still use to this date