Ring Money.

Ring Money. In early commerce, before the invention of coinage, but after the inconveniences of direct barter became evident, the precious metals in the form of rings and other personal ornaments were used as a medium of exchange. The employment of gold and silver as currency in this form among the early Egyptians is proved by contemporary wall-paintings showing the weighing of gold and silver rings, one such picture occurring in the decorations of a rock-grotto associated with the cartouche of Amenophis II. The allusion also in Genesis, xliii. 21, to the sons of Jacob finding their money 'in full weight' in the mouth of their sacks, may be taken as indicative of such a currency at a time when coinage of definite weight and value did not exist. A similar currency appears to have been in use among certain western communities at a much later period. A Norse law made about 1220 alludes to an established ring money, of which, however, each ring was of definite weight. It has been suggested that many ancient Celtic ornaments of gold and silver had a definite weight and value to fit them for exchange purposes; but, while it is certain that these objects served both for personal adornment and for purposes of traffic, it has not been proved that they were made to any standard of weight or value. Cæsar mentions that in Gaul and Britain gold and silver rings were used as money. Among the modifications of ring money in use in different countries may be mentioned the silver fish-hook money of Ceylon, mentioned by Tavernier, of the form of a flat wire bent into a hook, and issued as late as 1659. At the present day ring money for African traders is regularly manufactured at Birmingham of copper, or an alloy of copper, and is known under the name of 'Manillas.'