A Clash Of Two Systems On A Global & Historic Scale
July 13, 2012
Today 40 year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the United States. Here are Fitzwilson’s observations: “One of the most interesting episodes in monetary history has to do with something called a tally stick. In ancient times, tally sticks were typically pieces of wood, bone, stone or some other suitable material upon which notches were made to denote numbers and other items worthy of memory. Over time, these tally sticks moved from the mere recording of information to functioning as money.”
Robert Fitzwilson continues:
“King Henry I of England wanted to maintain an iron fist on the creation and use of money within his realm, so he took tally sticks to a new level. Crafted out of squared and polished wood, he had notches carved into them denoting denominations. The sticks were then split evenly down the middle. He kept one half for his treasury and then distributed the other half to the inhabitants of his realm.
By requiring them to be used for the payment of taxes, he insured that the sticks would function as money….