East german banknotes

Offices in the Ottoman Empire
• Austrian Offices in the Ottoman Empire
• British Offices in the Ottoman Empire
• French Offices in the Ottoman Empire
• German Offices in the Ottoman Empire
• Italian Offices in the Ottoman Empire
• Italian Offices in Constantinople (1909 – 1923) – album only
• Italian Offices in Smyrna (1908 – 1923) – album only
• Polish Offices in the Ottoman Empire (1919 – 1922) – album only
• Romanian Offices in the Ottoman Empire
• Romanian Offices in Constantinople
• Russian Offices in the Ottoman Empire
• Russian Offices in Constantinople
• Russian Offices in the Dardanelles (1774 – 1914) – album only
• Russian Offices in Kerassunde, Empire (1774 – 1914) – album only
•  Russian Offices in Rizeh   (1774 – 1914)
• Russian Offices in Smyrna (1774 – 1914) – album only
• Russian Offices in Trabzon (1774 – 1914) – album only

The shift toward the use of these receipts as a means of payment took place in the mid-17th century, as the price revolution , when relatively rapid gold inflation, was causing a re-assessment of how money worked. The goldsmith -bankers of London began to give out the receipts as payable to the bearer of the document rather than the original depositor. This meant that the note could be used as currency based on the security of the goldsmith, not the account holder of the Goldsmith-banker. [23] The bankers also began issuing a greater value of notes than the total value of their physical reserves in the form of loans, on the assumption that they wouldn't have to redeem all of their issued banknotes at the same time. This pivotal shift changed the simple promissory note into an agency for the expansion of the monetary supply itself. As these receipts were increasingly used in the money circulation system, depositors began to ask for multiple receipts to be made out in smaller, fixed denominations for use as money. The receipts soon became a written order to pay the amount to whoever had possession of the note. These notes are credited as the first modern banknotes. [22] [24]

East german banknotes

east german banknotes

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