18 Questions
Piloncitos were predominantly used as a form of money in the Philippines during the 19th century.
False
The first mint in the Philippines was established in 1861 to standardize coinage.
True
The Philippine Peso was introduced as the country's first local currency during the Spanish Regime.
False
Bank of the Philippine Island was authorized to issue its own bank notes, which were legally tender.
False
During the Japanese Regime in World War II, the Japanese introduced Philippine War Notes as a form of currency.
True
Commodity money such as sugar rice was not used in the Philippines during the Pre-Spanish Regime.
False
Is the Bank of England the oldest joint-stock company mentioned in the text?
False
Did Isaac Newton argue that debasing increased confidence in coins?
False
Was the first national currency minted by the US Treasury before 1775?
False
Was the British pound tied to gold under the Gold Standard from 1844?
True
Did the creation of credit cards result in a decrease in personal debt?
False
Did twelve EU countries replace their national currencies with the Euro in 1999?
True
The Gold Standard remained intact throughout the 20th century.
False
National banks were established in the early 17th century to regulate the countries' money supplies.
True
Henry VIII debased the silver penny, making it half copper.
False
The Spanish caused a century of inflation by shipping gold from Potosi, Bolivia, back to Europe annually.
False
Money in the early 20th century was still directly tied to precious metal.
False
Credit cards and cryptocurrencies are examples of new ways of trading that emerged by the mid-20th century.
False
Explore key events in early financial history including the formation of joint-stock companies, establishment of the Bank of England, reforms in The Royal Mint by Isaac Newton, and the authorization of the US Dollar by the Continental Congress.
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