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In the 13th century, paper money grew to become recognized in Europe by the accounts of travelers, comparable to Marco Polo and William of Rubruck 19 Marco Polo’s account of paper money through the Yuan dynasty is the subject of a chapter of his e-book, The Travels of Marco Polo , titled ” How the Nice Kaan Causeth the Bark of Bushes, Made Into One thing Like Paper, to Move for Money All Over his Nation” 20 Banknotes were first issued in Europe by Stockholms Banco in 1661, and have been once more additionally used alongside coins.
1 2 3 The primary functions of money are distinguished as: a medium of change ; a unit of account ; a retailer of worth ; and, typically, a regular of deferred fee four 5 Any merchandise or verifiable report that fulfills these features might be thought of as money.