- published: 24 Feb 2015
- views: 63201
A banknote (often known as a bill, paper money or simply a note) is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money. Traditional banknotes have largely been replaced with national banknotes issued by governments or central banks. National banknotes usually have legal tender status and are accepted at face value without discounting. National banknotes of Western countries have a history of backing in gold or silver and sometimes both; however, most of today's national banknotes have no backing in precious metals or commodities and have value only by fiat. With the exception of non-circulating high-value or precious metal issues, coins are used for lower valued monetary units, while banknotes are used for higher values.
A primitive version of the banknote was seen in the Han Dynasty in 118 BC, it was made of leather. However the first known banknote was first developed in China during the Tang and Song dynasties, starting in the 7th century. Its roots were in merchant receipts of deposit during the Tang Dynasty (618–907), as merchants and wholesalers desired to avoid the heavy bulk of copper coinage in large commercial transactions. During the Yuan Dynasty, banknotes were adopted by the Mongol Empire. In Europe, the concept of banknotes was first introduced during the 13th century, with proper banknotes appearing in the 17th century.
There's a little girl lives on our street she's awful sweet and pretty
The boys stand on their heads for her but she thinks they're all silly
She's got freckles on her nose her hair is light and sandy
Penelope Candance is her name but we call her Penny Candy
She doesn't know what a nickel is she's got no use for dollars
There's always a penny in her hand and a licorise on her collar
She's the sweetest girl in town the little boys think she's a dandy
But the monkey shines don't bother her when she's eatin' Penny Candy
Penny Candy she eats that messy kind Penny Candy she eats it all the time
[ guitar ]
She brightens up the neighborhood her little face is always glowing
And when she's in a hurry we all know where she's a going
It's to the little corner store that's awful close and handy
Then once again her happy face is black with Penny Candy
Penny Candy she eats that messy kind Penny Candy she eats it all the time
[ guitar ]
She's always got a smile for you if you should ever meet her
And with Candy on her face her smile is a little sweeter
Penelope Candance is her name and she likes that fine and dandy
But if you want to see her dimples show just call her Penny Candy