History of Money, Banks, and Saving

When was the earliest written evidence of the use of money?

We began to see laws mentioning the use of money as payment for restitution in the Code of Ur-Nammu. It was written in Sumerian by the King Ur Nammu of Ur, who ruled from 2112 to 2095 B.C.E.. In law 22, it is written, “If a man knocks out a tooth of another man, he shall pay two shekels of silver.”


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