SRI LANKA 100 rupees 10.6.1975


SRI LANKA, CEYLON, 100 rupees, 10.6.1975, Face: black and lilac on mulitcolor, president, Back: brown and multicolor, stairs at a temple complex, P80b, grafitti on back, VG

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S. W. R. D. Bandaranaike was Prime Minister of the Dominion of Ceylon from 1956 to 1959. He was left wing, which at that time had attractive and repellent aspects. Died by assassination. Things he did promoted the Sinhala ethnos over the Tamils, leading to that long civil war.

They had coins on Ceylon island since ancient times, just like India. But even though they were watching the Chinese using paper money, they just didn’t do that until the British colonial overlords brought their paper money habit to their colonial bureaucracies.

Aside from China, other governments started using circulating “banknotes” starting in the 17th century AD. The practice became general in the 19th century. In the 20th century value of paper money in circulation far surpassed the value of coinage. In the 21st century paper money is fading and credit transactions are growing.

Paper money, meaning the promise of a government to pay a set amount, and the paper promise allowed to circulate at will, was probably first used in China in the 12th century AD. At that time the merchants and governments of Europe were just writing letters to each other about what they owed.