Cash (currency)

The cash is a name for several historical currencies used in Asia. It is applied to units used in China, Vietnam, and the Princely states of Madras and Travancore in British India. It is also occasionally used to refer to the Korean mun and the Japanese mon.

Skr. karsha 'a weight of silver or gold equal to ¹⁄₄₀₀ of a tulā' (Williams); Singhalese kāsi coin. The early Portuguese writers represented the native word by cas, casse, caxa, the Fr. by cas, the Eng. by cass: the existing Pg. caixa and Eng. cash are due to a natural confusion with CASH n.1. From an early date the Portuguese applied caixa (probably on the same analogy) to the small money of other foreign nations, such as that of the Malay Islands, and especially the Chinese, which was also naturally made into cash in English. (Yule)" The English word "cash," meaning "tangible currency," is an older word from Middle French caisse.

Chinese cash

Cash as a currency unit name in China, not to be confused with the type of copper coin also known as cash, refers to a unit used for centuries for copper coinage and banknote equivalents known as wén (文) in Chinese. Being the earliest country to implement paper based currency, at 1023 the 交子 paper money currency occur to adapt the economical climate change of globalization brought by fair trade via silk road, although metal coin were still in circulation. After the introduction of a unified currency system in 1889, the cash continued to be used as a subunit of the yuan with 1000 cash equal to one yuan. Coins continued to be denominated in cash until the 1920s nationally and for a time thereafter regionally.

Cash

Cash refers to money in the physical form of currency, such as banknotes and coins.

In bookkeeping and finance, cash refers to current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately (as in the case of money market accounts). Cash is seen either as a reserve for payments, in case of a structural or incidental negative cash flow or as a way to avoid a downturn on financial markets.

Etymology

The word is variously attributed. Some claim that the word "cash" comes from the modern French word caisse, which means (money) box, from the Provençal word caissa, from the Italian cassa, from the Latin capsa all meaning box. In the 18th century, the word passed to refer to the money instead of the actual box containing it. Another claim is that it was derived from Tamil word kāsu (Tamil: காசு) meaning a coin, by East India Company.

"Cash" used as a verb means "to convert to cash"; for example in the expression "to cash a cheque".

History

In Western Europe, after the Collapse of the Western Roman Empire, coins, silver jewelry and hacksilver (silver objects hacked into pieces) were for centuries the only form of money, until Venetian merchants started using silver bars for large transactions in the early Middle Ages. In a separate development, Venetian merchants started using paper bills, instructing their banker to make payments. Similar marked silver bars were in use in lands where the Venetian merchants had established representative offices. The Byzantine empire and several states in the Balkan area and Kievan Rus also used marked silver bars for large payments. As the world economy developed and silver supplies increased, in particular after the colonization of South America, coins became larger and a standard coin for international payment developed from the 15th century: the Spanish and Spanish colonial coin of 8 reales. Its counterpart in gold was the Venetian ducat.

Currency

A currency (from Middle English: curraunt, "in circulation", from Latin: currens, -entis) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. Under this definition, British pounds, U.S. dollars, and European euros are examples of currency. These various currencies are recognized stores of value, and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.

Other definitions of the term "currency" are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government's physical metal reserves). Some currencies are legal tender in certain political jurisdictions, which means they cannot be refused as payment for debt. Others are simply traded for their economic value. Digital currency has arisen with the popularity of computers and the Internet.

Lil Wayne

Dwayne Michael Carter, Jr. (born September 27, 1982), better known by his stage name Lil Wayne, is an American hip hop recording artist from New Orleans, Louisiana. In 1991, at the age of nine, Lil Wayne joined Cash Money Records as the youngest member of the label, and half of the duo The B.G.'z, alongside fellow New Orleans-based rapper Lil' Doogie. In 1996, Lil Wayne formed the southern hip hop group Hot Boys, with his Cash Money label-mates Juvenile, Young Turk and Lil' Doogie (who now goes by B.G.). Hot Boys debuted with Get It How U Live!, that same year. Most of the group's success came with their platinum-selling album Guerrilla Warfare (1999) and the 1999 single "Bling Bling". Along with being the flagship artist of Cash Money Records, Lil Wayne is also the chief executive officer (CEO) of his own label imprint, Young Money Entertainment, which he founded in 2005.

Lil Wayne's solo debut album Tha Block Is Hot (1999), was certified platinum by the Recording Industry Association of America (RIAA). His subsequent albums, Lights Out (2000) and 500 Degreez (2002), went on to be certified gold. Wayne reached higher popularity with his fourth album Tha Carter (2004), which was led by the single "Go D.J." and his appearance on Destiny's Child's Top 10 single "Soldier", that same year. The album was followed by Tha Carter II (2005), as well as several mixtapes and collaborations throughout 2006 and 2007. Wayne gained more prominence with his sixth album Tha Carter III (2008), which became his most successful album to date, with first-week sales of over one million copies in the United States. The album won the Grammy Award for Best Rap Album and includes the hit singles "Lollipop", "A Milli" and "Got Money".