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1、Visit www.readinga- for thousands of books and materials.Money,Money,MoneyA Reading AZ Level Z1 Leveled BookWord Count:2,419WritingWrite a report summarizing the different forms of money that have been used throughout history.Social StudiesResearch one historical figure or landmark depicted on money
2、.Create a trading card for the figure or landmark with a picture and label on the front and at least five fun facts on the back.Connectionswww.readinga-Money,Money,MoneyWritten by Lisa IngLEVELED BOOK Z1XZ1Z2Money,Money,Moneywww.readinga-How has money changed over time?Focus QuestionWritten by Lisa
3、IngCorrelationLEVEL Z1WXN/A60Fountas&PinnellReading RecoveryDRAMoney,Money,MoneyLevel Z1 Leveled Book Learning AZWritten by Lisa IngIllustrated by Cende HillAll rights reserved.www.readinga-accumulatebarterbullioncirculationcounterfeitcurrencydenominationdichroicencodedfiat moneyincisedintrinsicmint
4、strikeswatermarksWords to KnowPhoto Credits:Front cover,pages 4,16,17,20:Learning A-Z;back cover:Photodisc;title page,page 14:Digital Vision/PictureQuest;page 8:The Granger Collection,NYC;page 9:PjrStudio/Alamy;page 10:AStock/Corbis;page 11:The Art Gallery Collection/Alamy;page 18:Jack Fields/Corbis
5、;page 19:Big Cheese Photo LLC/Alamy;page 21:Antonio M.Rosario/Brand X Pictures/PictureQuest;page 22:Eightfish/Alamy3Table of ContentsIntroduction .4Bartering .5Currency .6Coins .8Paper Money .11The Value of Money .14Keeping Money Real .16Invisible Money:Checks and Credit Cards .19Conclusion .22Gloss
6、ary .23Index .24Money,Money,Money Level Z14IntroductionAn ordinary piece of paper isnt worth very much,but a piece of paper money can be worth many thousands of dollars.A check can be worth millions.Each printed bill is worth much more than the paper its printed on.But why?Where did money come from,
7、what makes money so valuable,and why do people want it?Money is valuable because the people who make and use it agree on its value.The government that issues it,the mint that strikes or prints it,the banks that hold it,and the people who buy and sell things with it all agree that the money they acce
8、pt is worth something.The history of money is the fascinating story of how people who traded valuable objects began to trade objects that represented their valuables.The story also explains how technology creates“invisible money”that allows people to trade goods and services around the world without
9、 being in the same place.Money is worth much more than the paper its printed on.5BarteringThousands of years ago,people used to barter in order to get what they didnt have or couldnt make.People living near the ocean had fish,salt,and shells,which they traded with people living near the mountains wh
10、o had fruits,wood,and furs.People still barter with each other today.If you trade an apple from your lunch for someone elses candy bar,you are bartering.However,there are several problems with bartering because not everyone has the same wants or needs.You might want some goods or valuable objects fr
11、om someone,but they might not want the goods that you have,or vice versa.Additionally,many items are heavy,hard to carry,or dont last long.Figuring out how many of one item equals a certain number of another can be difficult.There is also the problem of the value of raw materials versus that of fini
12、shed goods.Bartering allowed people to trade for products they could not get on their own.Money,Money,Money Level Z16CurrencyIn order to get around the problems of bartering,people invented currencyobjects that represented certain values.For example,a group of people might agree that a cow was worth
13、 twenty shells and a large fish was worth two shells.People could trade goods for currency and vice versa as long as everyone in the exchange agreed upon the value of the currency being traded.Each culture around the world chose a different type of currency to represent the value of its goods.The ob
14、jects people used for currency were almost always light enough to carry,but rare enough that people couldnt just pick them up off the ground.The rarer the item used for currency and the more work it took to find it,the more valuable people decided it was.Currency allowed people to trade objects with
15、out carrying them around.7Some of the items used as currency in ancient times were bright or colorful stones,striped or spotted shells,leaves from particular trees,feathers from certain birds,lumps of silver and gold,salt,honey,bread,spices,and gems.In ancient Rome,a soldiers salary was paid in bags
16、 of salt.From Africa to Asia,people traded with rare speckled shells that were only found on a few islands in the Indian Ocean.The ancient Egyptians used honey and bread to pay their workers.Some Native Americans used wampumbeads made from clam shellsto trade and make treaties.Other Native Americans
17、 used eagle feathers.The Chinese used bundles of tea leaves,and European colonists in North America used tobacco leaves as their currency.The problem with currency of this type was that it was hard to decide how much a particular object was worth.If one shell was much larger than another shell,shoul
18、dnt it be worth more?Did the different stripes or dots on the shells mean something different?And what if you met somebody who didnt think your shells were worth anything at all?For trade to work,each side had to want what the other had and agree on its value.Money,Money,Money Level Z18CoinsOne solu
19、tion to the problems of using ordinary objects as currency was to create coins out of precious metals.Precious metals are rare and valuable across many cultures,and they are easier to shape and weigh than shells or feathers.Metals are heavier than shells and feathers,but they last longer and are mor
20、e resistant to damage during transport or from the elements.The first coins were minted,or produced,2,600 years ago in Sardis,Lydia,which is now part of Turkey.Some of these coins had the head of a lion on them and were called trites.From Lydia,coins quickly spread into the neighboring countries of
21、Persia(now known as Iran)and Greece.The earliest coins were struck or cast in a natural These ancient coins were stamped with the kings picture.9combination of gold and silver called electrum.These coins were very rough and crude,with no patterns on the sides or standard sizes and weights.Later,coin
22、s were made from pure metals such as copper,bronze,silver,and gold.They had standard weights,and the rulers seal was stamped on one side to confirm the coins quality.In addition,to stop people from shaving the edges of coins to collect enough metal to make more coins,ridges were incised on the outer
23、 edges.The ridges made it easier to determine when coins had been altered.Early European coins usually had a gods head or symbol on one side and a seal from the maker on the other.Later coins pictured the heads of rulers on one side and elaborate symbols These Greek coins had words,a picture of an o
24、wl,and a portrait of the goddess Athena.Money,Money,Money Level Z110of the empire on the other.These pictures helped establish when,where,and by whom the coins were made.Even today,you can see the faces of presidents,kings,and queens on modern coins,and sometimes even the particular mint where the c
25、oins were struck.The Chinese made coins by melting copper and pouring it into molds.This process is called casting.Chinese coins were cast with square holes in the centers,so that thousands could be carried on a ribbon or stick.Instead of pictures,the Chinese coins,called cash,had words telling thei
26、r worth,or denomination.The Chinese also made coins using bronze,silver,or gold.Only the government could produce coins.Chinese cash could be held on a string or stick for easy carrying.11Paper MoneyA Chinese man named Tsai Lun invented paper 1,900 years ago.But it wasnt used for money until 700 yea
27、rs later when the Chinese government ran out of copper to produce coins.It switched to printing paper money.The earliest paper money was created using wooden blocks carved with specific designs and denominations,then covered with ink and pressed onto uniformly sized rectangles of paper.Red and black
28、 inks were used,and the seals of the issuing banks were applied to parts of the bills.The officials who issued the currency put their names and seals on them.Although coins were still available,the lighter paper money quickly became more popular.The Chinese called it flying cash because it could blo
29、w away in a breeze.In Europe,another invention changed the shape and widespread usage of currency.Johannes Gutenberg invented the movable-type printing press in the mid-1400s.This press,which used metal type blocks,printed images onto paper faster and better than the much older wooden-block presses.
30、Gutenbergs press allowed people to print paper money by machine rather than by hand.Early Chinese paper moneyMoney,Money,Money Level Z1123781131 A designer draws a picture of the coins two sides on a large piece of paper.2 Sculptors make a large,three-dimensional model of the coin.An engraving machi
31、ne uses the model to make a die,or coin stamp.The die is sent to mints,or factories that produce coins.3 Mints cut blank coins,called blanks,from a rolled-up sheet of the right kind of metal.The sheet can be as long as five football fields.4 The blanks are heated,cooled,washed,and dried.5 A machine
32、called an upsetting mill creates the raised edge of the coin.6 The coin press stamps the pattern from the die into the coin.7 Inspectors make sure that there are no mistakes in the coin.Incorrectly made coins get melted down and recycled.8 The coins are sent out to banks in armored trucks.Minting Co
33、insCoins are harder to make than you might think.Once the government decides to produce new coins,these are just some of the steps that must happen.Money,Money,Money Level Z114The Value of MoneyUnlike gold,silver,or copper coins,paper money is worth very little by itself,mainly because people agree
34、that metal is worth more than paper and ink.It costs only four U.S.cents to print a bill,including the cost of the paper,ink,and the printers pay.So why is one piece of paper worth a hundred dollars while another is worth only one?The simple answer is that the government says so.In 1900,the U.S.Cong
35、ress passed the Gold Standard Act.For each dollar in circulation,the government had to have one dollars worth of gold Banks used to keep bars of gold that represented the sum of everyones money.15in a bank because it ensured that every dollar bill represented its face value,or the number printed on
36、it,in gold.The U.S.government used specific collection facilities,including the bullion depositories at Fort Knox,Kentucky,and West Point,New York,to store the nations gold.Back then,you could trade your dollars for the same amount of gold at a bank.Most countries have not participated in the gold s
37、tandard since 1971.There are simply too many bills needed in circulation.The bills represent more wealth,goods,and valuables than there is gold in the world.Britain officially stopped using the gold standard in 1931,and the United States stopped forty years later.Today,governments keep track of how
38、many goods and resources there are in a country and circulate enough currency to represent those goods and resources.Depending on how many goods and resources the country produces and how successful its businesses are,the value of a countrys money can rise or fall compared to other countries currenc
39、ies.This is called a floating currency system.The currencies themselves are called fiat money because,unlike metals,paper currencies have no intrinsic value and are used only as a method of exchange.Money,Money,Money Level Z116Keeping Money RealMany agree that only governments can create currency be
40、cause they keep track of the actual goods and resources that the currency represents.But what if people try to produce money on their own?Fake money,called counterfeit,isnt worth anything because it isnt backed up by goods or resources and is not created by a government.Banks,stores,restaurants,and
41、other companies will not let anyone use counterfeit money.Worse,having counterfeit money in circulation devalues the genuine currency in circulationif there is fake money around,how do you know if your money is real or not?Try This!Get a dollar bill and pieces of paper,construction paper,cloth,and t
42、issue paper.Cut the pieces of paper and cloth so that they are the same size and shape as the dollar bill.Now close your eyes and try to tell the real bill from the fake bills by touch.Cashiers and bank tellers who handle a lot of money can tell a real bill from a counterfeit just by feeling it.Coul
43、d you do the same thing?17In order to defeat counterfeiters,most countries make their money using special hard-to-copy practices.Since 1879,the paper for all U.S.currency has been made by one company,Crane&Co.,in Dalton,Massachusetts.Bills are printed on paper made using a secret formula.U.S.dollars
44、 are made of a mixture of about one-quarter linen and three-quarters cotton,with some red and blue silk fibers sprinkled throughout.However,the Bureau of Engraving and Printing(BEP)keeps the exact formula a secret,the way Coca-Cola protects the secret recipe for its famous soda pop.A special thread
45、below the portrait glows in ultraviolet,or“black,”light.The ink on genuine bills is raised a little bit so you can feel it when you run your finger over the printing.Raised printing is called intaglio(in-TAL-ee-o)printing.Banks and some stores use special pens with ink that turns from black to yello
46、w on real cotton and linen bills,but stays black on fake bills copied on cellulose,or wood-based,paper.Do You Know?Travel from country to country has become easy,and it can be a bother to change one countrys money to another countrys money every time you travel.Most of Europes nations have joined to
47、gether to form the European Union.Many of them standardized their money so that the euro is worth the same amount in each nation.Each country mints euros.The tail side of the euro has a picture that symbolizes the country that made it.Money,Money,Money Level Z118The pictures and print on bills are d
48、esigned to prevent easy copying.The portrait is large and detailed,placed slightly off-center,and made of very thin dashed lines.The patterns on the bill are small and complicated;they are difficult to see and even more difficult to reproduce.Each bill has a serial number that shows when and where t
49、he bill was printed.In addition,many bills are printed with several ink colors,magnetic inks,and dichroic inks that change color depending on the angle you look at them.Just as the paper has a special formula,the ink formulas are kept secret by the government.Some bills have holograms or watermarks
50、that reveal other images only when you hold the bills up to a light source.Do You Know?The biggest currency in the world is used by the Yap Islanders,who live on an equatorial island near Indonesia.They make coins of giant stones that weigh as much as full-grown Asian elephants.The stones have holes