A History of Money

 A History of Money

From Ancient Times to the Present Day

From earliest times money in some form or another has been central to

organized living. Increasingly it shapes foreign and economic policies of

all governments. It is synonymous with power and it shapes history in

every generation.

Professor Glyn Davies, Economic Adviser to the Julian Hodge Bank

Ltd, and sometime Chief Economic Adviser to the Secretary of State for

Wales, and then to the Bank of Wales, is an ideal person to write the

history of money itself. In his fifteen years as Sir Julian Hodge Professor

of Banking and Finance at the University of Wales Institute of Science

and Technology, Glyn Davies earned worldwide recognition as one of

the United Kingdom’s front line economists. Both the CBI and various

Select Committees of the House of Commons have sought his help.

For over two decades there has been a unique partnership between

Wales’s financial wizard, Sir Julian Hodge, and Professor Glyn Davies.

The genius of Sir Julian is matched by his intuitive caution in matters

financial: it is therefore a high tribute to Professor Glyn Davies that for

two decades he has been Sir Julian Hodge’s trusted Economic Adviser.

This book is a masterpiece of scholarly research which economists

and bankers will find invaluable. Professor Glyn Davies enjoys a rare

gift in being able to present the most complicated issues in clear and

simple terms.

I declare my personal interest in this book because I have proved the

quality of Professor Glyn’s work both when I served as Secretary of

State for Wales and when I was Chairman of the Bank of Wales.

George Tonypandy

The Right Honourable Viscount Tonypandy PC, DCL,

House of Lords,Westminster

1 March 1994