Essays

Essay on Evolution of Money, Speech on Importance of Money

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Who doesn’t want money? Everyone around us needs money to buy the things which are necessary to survive. But can money buy the peace of mind? Can money buy happiness? These are the questions to ask. In this article, we have given you a 740 words essay on the evolution of Money and 750 words in form of speech. The information in this essay can also help you to prepare a paragraph or article on the same topic. Given information can be also used for essay topics like money is not everything, So let’s start.

It’s not money that matters. The way you use it determines its value.

Essay on Evolution / Timeline of Money – 740 words

Man invented money to give something which has a value to buy goods or service in return. We buy everything with the exchange of the money. Before the money was invented people used to practice barter system. The barter system is the exchange of goods or service to buy another goods or service, for example, if one farmer grows rice crops then he can exchange the rice to buy the wheat from another farmer. Even the animals were used in the barter system, animals like cows, camels, sheep were traded as money. Different civilizations used different things as currency, for example, Mesopotamia used grains and societies near Pacific and Indian ocean coastlines used Shells as a form of exchange. China also used shells to exchange the goods and services. China was the first country to introduce metal coins, though the coin system was better than previous barter system, it was not convenient for expensive purchases. That created need of precious metal coins for expensive purchases. So, gold, silver, copper, brass coins were introduced by various early age civilizations. This system was survived for hundreds of years, till when exchanging a huge number of metal coins was no more an easy task.

Paper money or bank notes was not a new idea in the early 20th century, but the USA played a major role in standardizing it. In 1913, Federal Reserve Bank created gold backed notes and central bank to operate, manage it. The Same method was used by other countries and brought own government / reserved bank controlled paper money. Gold backed bank notes standard was removed in 1971, that means the government doesn’t need to hold an equivalent amount of gold to produce bank notes. So, such money is called as Fiat Money.

Plastic Money or Credit, Debit cards are comparatively new to Indian market but these payment systems are not that new. ACME & Sons first gave charge cards to their customers with cars. Then in the 1950s, Diners Club started Credit card system later got famous with names like VISA, American Express. Due to invent of technology and internet new forms of money are evolved in the market. With Digital Money, now one doesn’t need to pay cash to buy things, money is digitized. In digital payments, one doesn’t need to exchange the physical bank notes; instead, money is paid or received in digital format. All Major banks in India have Online Payments, Net Banking facilities.

One more time, technology is disturbing the money system across the world. The unprecedented rise of smartphones and cheaper internet connections brought Mobile Banking, E-Wallets. Now there is no need to stand in queues in front of the bank to withdraw your money or to send money to somebody, one can do it with a mobile phone. We find ATMs everywhere where you can withdraw or deposit your money.

There is one more form of money that not all know or understands, it is called Bitcoins. We use cash or different cards to buy things in shop or online, Bitcoin works the same way. But unlike another form of money, it is a complete Digital Currency, it is created and circulated online only. Bitcoin currency is decentralized means bank don’t control it, its owner controls it. There are both advantages and disadvantages of this decentralization. You Bitcoin currency don’t loose values due to market conditions like inflation etc. But the same system is also prone to be used by money launderers and in the black market. It is like any other e-wallet app on your mobile.

Essay Conclusion

Money or currency is always been medium of payment in various forms. From barter system to Bitcoin, currency is been always evolved other time, to fit in the market as per the need of changing world. Today technology drives the new ways to create and use the money for businesses and personal use.


Speech on Money – 750 Words

Respected chief guests, Principal sir, teachers and my friends a very good morning to all of you. Today I am here on this podium to talk about money, its importance in our lives and how pursuing money affects our lives. With your permission Mr.<Chief Guest> I would like to start my speech. But before jumping to the topic, let me share you a story which compelled me to share my thought on the topic.

Last week I watched a movie in which there was a scene where a poor man who got hit by a truck, he was lying on the road, drenched in blood and was desperately calling for help. No one was helping him but fortunately, a lady walking by saw him and immediately ran towards him to help him. The injured man needed an emergency medical assistance hence needed to be taken to the hospital. There wasn’t any hospital nearby. So the lady who was helping him tried to stop the passing cars for help. After several minutes of requesting and pleading for help, she managed to stop a car. She asked the man in the car to help her to take the injured man to the hospital. On which the man in the car replied, “I don’t want my car seat covers to get stained by the blood of this beggar.” I was very sad hearing those words. Are those seat covers more valuable than someone’s life?

That day I realized; for some people, money is more valuable than life. If the same accident happens in real world and if that was not a beggar but a rich business person? Do you think that man in the car could have refused for the help?

Today money has become a status symbol. It has become a modern addiction. Money has surpassed the knowledge and virtue in value. Today a person with abundant money gets more respect whereas as poorly treated like herds. Money started manipulating everything around us. The greed gave birth to the corruption. Corruption, black money, money laundering are few of the problems faced by almost every country in the world and the root cause is Money. The government deals with a lot of money collected as tax from the people and this is the most likely place to find the most greedy people because of more the money more the greed. It’s never ending. Money has become the root of all evil. But at the end of the day, the question remains the same. Can money buy you happiness? Apparently, it cannot. Money can buy you all the luxurious things in the world, but it cannot give you the satisfaction and contentedness. You’ll always want more money. You cannot sleep peacefully knowing you have so much money in your house. What if they thieves come? What if somebody kidnaps family member for ransom. The money cannot even buy you the peaceful sleep then why to spend your whole life running after it?

The money or the currency surely helped the world to have a reliable way of exchanging goods and things but it has created more problems than the good. Soon the money became the aim of man’s life. The money helped man to buy the things needed for the survival. Things like food, shelter, and clothes are the basic human needs and these are bought with the money. But man’s greed never stopped. The hunger for more created many problems for the man. Today the money can make the world go round; money has become everything.

There are people who spend lakhs on partying, the same money can feed hundred of hungry children. Money is destroying the empathy from the human mind. In contrary, If someone says, money is not necessary at all then he is a fool. Yes, Money is important in today’s life, you cannot run your life without it, but how much? That is the question.

Speech Ending Paragraph

Money is no doubt an essential thing to fulfill our need and to survive but the greed will never help you to find the peace and satisfaction. I hope, we all earn good money, everyone deserves that but with legal methods. When we have abundant money, when we have spare money we should help others who are not that fortunate. I am not saying give free money to all, that will stall their progress but when someone is hungry we can always feed them.

I hope this article helps you with your essay on money and its place in our lives. We hope you guys can help us translating this essay in other languages like Kannada, Tamil, Hindi, Marathi, Gujarati, Malayalam etc. Do you think money is the best thing we can have? Let us know in the comment section below. 🙂

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About the author

Ajay Chavan

Hey guys! I am Ajay Chavan, a small town guy walking down the path to my dream. A hell-bent person who never gives up.
I love to write about stuff that makes a difference in someone's life.
And Hey! I am also the Co-Founder and COO of TeenAtHeart.