Respuesta :
In the first half of the nineteenth century, when the prospective entrepreneurs obtained bank loans to the finance their new ventures, loans were issued in the form of Bank Notes
What is a Bank Note?
Bank note refers to a negotiable note in which one party can pay a specific amount of money to another party. It is payable on the bearer's demand.
- Before the emergence of modern societies people used to used valuable objects such as gold and silver to pay for goods and services through the system of barter. Later paper money and coins replaced these physical asserts as the medium of currency.
- At present only the government issues banknotes. Although earlier the commercial banks also issued bank notes, Presently the Reserve bank issues the bank notes and mint money . Bank notes have natural advantage than coins as they are lighter and easy to carry but they are less durable than coins.
- Bank notes are created with high security features like security thread and optically variable ink. The creator of paper currency is China, as the first paper money was issued in the form of receipts during the dynasty of Tang in the 7th Century. Presently the US Bureau of Engraving and Printing prints the Federal Reserve Notes.
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