Is Salt a good form of money?

The word “salary” was derived from the word “salt.” Salt was highly valued and its production was legally restricted in ancient times, so it was historically used as a method of trade and currency. Undeniably, the history of salt is both broad and unique, leaving its indelible mark in cultures across the globe.

Where was salt used as a currency?

Centuries ago, salt ruled everything around us. So much so, in fact, that the term “salary” is actually derived from the Latin term “salarium,” which means “salt money.” The use of salt as currency began as early as 6,000 BC when salt crystals were harvested from the surface of Lake Yuncheng in China.

How was money evolved?

Before money was invented, people bartered for goods and services. It wasn’t until about 5,000 years ago that the Mesopotamian people created the shekel, which is considered the first known form of currency. Gold and silver coins date back to around 650 to 600 B.C. when stamped coins were used to pay armies.

Why was salt so expensive in the past?

Prior to industrialization, it was extremely expensive and labor-intensive to harvest the mass quantities of salt necessary for food preservation and seasoning. This made salt an extremely valuable commodity. During the Middle Ages, salt was transported along roads built especially for that purpose.

When did people use salt as a currency?

As early as the 6th century, in the sub-Sahara, Moorish merchants routinely traded salt ounce for ounce for gold. In Abyssinia, slabs of rock salt, called ‘amôlés, became coin of the realm. Each one was about ten inches long and two inches thick. Cakes of salt were also used as money in other areas of central Africa.

How exports can be promoted through the currency devaluation?

Exports can be promoted by the devaluation. When the devaluation takes place, the domestic currency becomes cheaper in the international market compared other countries currency. When Chinese Yuan is devalued, it becomes cheaper in the international market compared to US Dollar.

Is salt as valuable as gold?

Even today, salt’s association with value persists in our language. The word “salary” is derived from the Latin salarium, which was the term for a Roman soldier’s earned ration of salt. Recorded history also soundly refutes the myth that salt was more valuable than gold.