That tally stick

Small parts pose a choking hazard and are not appropriate for children age five or under. Be sure to choose lesson materials that meet safety requirements. Ask the children a series of random polling questions, e. Record the tally marks next to the questions posed, clearly labeled on the chart paper.

That tally stick

Wednesday, July 12, Tally Sticks and the Fundamentals of Money Do you know the true story of how a careless clerk, while burning up some outdated money, caused the Great Fire of which destroyed both Houses of the British Parliament, along with large portions of the Palace of Westminster?

In this case, the outdated money takes the form of "tally sticks. The artefacts in question were humble sticks of willow, about eight inches 20cm long, called Exchequer tallies.

The willow was harvested along the banks of the Thames, not far from the Palace of Westminster in central London.

Tallies were a way of recording debts with a system that was sublimely simple and effective.

What tally sticks tell us about how money works - BBC News

The stick would contain a record of the debt, for example: Fulk Basset was a Bishop of London in the 13th Century. Now comes the elegant part.

The stick would be split in half, down its length from one end to the other. The debtor would retain half, called the "foil".

The creditor would retain the other half, called the "stock" - even today, British bankers use the word "stocks" to refer to debts of the British government. Because willow has a natural and distinctive grain, the two halves would match only each other.

Of course, the Treasury could simply have kept a record of these transactions in a ledger somewhere.

But the tally stick system enabled something radical to occur. If you wanted to buy something, you might well find that the seller would be pleased to accept the tally stock as a safe and convenient form of payment.

Online tool for international trade

So the tally sticks themselves became a kind of money, a particular sort of debt that could be traded freely, circulating from person to person until it utterly separated from Bishop Basset and a farm in Wycombe.

Here are a few pictures of tally sticks: The second is from a short article by Frank J.

Swetz and Victor J. Of course, making marks on a stick or bone to keep a record of days or lunar cycles or livestock dates back millennia. The specific idea of tally sticks to keep track of debt dates back hundreds of years; i n one telling, they were invented by King Henry the First, son of William the Conqueror, when he became King in AD.

Moreover, when a tally stick was split, it was divided into two different lengths, with the debtor literally receiving the short end of the stick. Tally sticks were a highly successful monetary innovation, in the sense that they were used for centuries. They offer a demonstration of the idea that money, at its root, is something that can be stored and then accepted for purchases: They also demonstrate that money can be created by private actors, although textbooks typically emphasize the role of banks in creating money in the modern economy.

The punchline to the story of the tally sticks happens in Tally sticks had fallen out of use, and apparently there were no historians or museum curators nearby, so a decision was made to burn several large cartloads of remaining tally sticks.Jul 12,  · Tally sticks were a highly successful monetary innovation, in the sense that they were used for centuries.

They offer a demonstration of the idea that money, at its root, is something that can be stored and then accepted for purchases: as the textbooks say, money is a medium of exchange, a store of value, and a unit of account.

Oct 18,  · The stick was then split in half lengthwise through the center of the carving, creating a "split tally," which prevented either user from adding notches to his half of the tally stick.

Each party to the transaction was given one half of the marked tally as proof. The tally stick Lyrics. Here from the start, from our first of days, look: I have carved our lives in secret on this stick of mountain mahogany the length of your arms. “The Tally Stick” is a physical representation of this couple’s love for one another.

It tells a practical story of the couple’s companionship, nothing on the stick is idealistic and depicts real events that drove their love, not what their relationship could have been, but what it is.

According to Ramsey the stick is a part of the couple’s relationship. The tally stick shows that love can be a long-lasting bond defined by failure and success that strengthen their relationship.

Search This Blog

Before there is a single notch in the stick the narrator shows its significance. Operation Realities of Tally Sticks as Money. The tally sticks were money. The article is not clear on this point.

The article also fails to mention how the system operated. Every money system is composed of an issuer (in this case the crown) and users (the people). The crown would issue tally sticks in payment for the goods & services it purchased.

That tally stick
World Internet Numismatic Society (WINS) Newsletter