Economy and money in ancient civilizations

The great civilizations of the Bronze Age

History of Coinage

The great civilizations of the Bronze Age

The section on the great civilizations of the Bronze Age begins with an extract from Glyn Davies' A History of Money: From Ancient Times to Present Day, which provides a useful introduction to the topic.

Toynbee identifies some twenty-one different "civilizations", but since fifteen of these derived directly or indirectly from earlier examples, he reduces the number of independently developed civilizations to six: Sumerian, Egyptian, Minoan, Chinese, Mayan and Andean. Of these, only the Incas of the Andes managed to achieve a high degree of civilization without using money, although paradoxically they had an abundance of the materials generally considered best for use as money - gold and silver.

This presents a paradox: the Incas achieved a complex society without money, despite having abundant precious metals. Davies continues:

The more stratified a society, and the more meticulously efficient its planning system, the less necessary the use of money is for its population. This may explain why the Spanish conquistadors discovered that the Mexicans, whose government was relatively more liberal, regularly used gold powder (kept in transparent tubes) and cocoa beans (kept for large payments in bags of 24,000 units) as currency, while conversely, the Incas, organized according to a much more rigid hierarchy, had no currency at all: an exception confirmed by a strict rule. The origin of money in China was totally independent of other civilizations; however, the relative proximity of the Sumerian, Egyptian and Minoan civilizations raises doubts as to the extent of their respective ignorance of monetary practices, especially in view of the extensive trade established as far back as the earliest times.

As Davies notes, the origin of money in China was independent. While cast coins developed there, early Chinese monetary practice differed significantly from the West. Silk was a primary medium for foreign trade, and the fundamental principles of its monetary system were distinct. These points will be explored further in the section on China.

Among the key Sumerian cities was Uruk, an influential center known for its large population and advanced culture, including the development of writing and urban planning. Its legendary ruler, Gilgamesh, a likely historical king from circa 2900 BC, is the subject of the famed Epic of Gilgamesh.

Another significant figure was Sargon of Akkad (reigned 2334–2279 BC), the founder of the Akkadian Empire, which was another civilization that emerged in Mesopotamia. He is credited with establishing an early postal service for clay tablets, which were often encased in clay envelopes marked with a seal for confidentiality before being opened.

Babylon later became the capital of the Babylonian Empire, renowned for its monumental ziggurat and palaces, as well as the highly advanced legal code of Hammurabi.

Finally, two key Assyrian cities are Ashur, the original capital and religious center, and Nineveh, the later capital. Nineveh was known for its military might, extensive libraries, and vast palaces. It is also a likely candidate for a location of the legendary Hanging Gardens, a wonder often attributed to Babylon.

Archaeological evidence of multi-tiered gardens has been found at Nineveh, leading some scholars to propose that ancient Greek historians, such as Herodotus, may have confused the two cities.