Today anyone will accept money in exchange for goods and services. People use money to buy food, furniture, books, bicycles and hundreds of others they need or want. When they work, they usually get paid in money.
Most of the money today is made of metal or paper. But people used to use all kinds of things as money. One of the first kinds of money was shells.
Shells were not the only things used as money. In China, cloth and knives were used. In the Philippine Islands, rice was used as money. In parts of Africa, Cattle were one of the earliest kinds of money. Other animals were used as money, too.
The first metal coins were made in China. They were around and had a square hole in the center. People strung them together and carried them from place to place.
Different countries have used different metals and designs for their money. The first coins in England were made of tin. Sweden and Russia used copper to make their money. Later, other countries began to make coins of gold and silver.
But even gold and silver were inconvenient if you had to buy something expensive. Again the Chinese thought of a way to improve money. They began to use paper money 76)The first paper money looked more like a note from one person to another than paper money used today.
Money has had an interesting history from the days of shell money until today.
1. Which of the following can be cited as an example of the use of money in exchange for services?
A. To sell a bicycle for $20.
B. To get some money for old books at a garage sale.
C. To buy things you need or want.
D. To get paid for your work.
2. Where were shells used as money in history?
A. In the Philippines.
B. In China
C. In Africa
D. We don’t know
3.Why, according to the passage, did ancient Chinese coins have a square hole in the center?
A. Because it would be easier to put them together and carry them around.
B. Because it would be lighter for people to carry them from place to place.
C. Because people wanted to make it look nicer.
D. Because people wanted to save the expensive metal they were made from.
4. Why does the author say that even gold and silver were inconvenient if you had to buy something expensive?
A. Because they are easy to steal.
B. Because they are difficult for people to obtain.
C. Because they are not easy to carry around.
D. Because they themselves are expensive, too.
5. Which do you choose as the best title for this passage?
A. Money and Its Uses
B. Different Things used as Money
C. Different Countries, Different Money
D. The History of Money
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