basically
money is "an idea backed by
confidence." The idea is that the
exchange of
goods or
services kind for kind is too clumsy. To carry your dozen eggs all over town until you find someone who has
bread he will
exchange for your eggs so you can have
bread is too clumsy. That is called a barter (trading) system and is used in
primitive tribes. To solve this, men get the idea of making metal or slips of paper to represent the eggs and the
bread. Thus you
don't need to
look all over town.
(HCO PL 27 Nov 71)
Barter System