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{{#ev:youtube|2HLVOYoypzw|300|right|YouTube Short on tally sticks - 1 minute}} | {{#ev:youtube|2HLVOYoypzw|300|right|YouTube Short on tally sticks - 1 minute}} | ||
The tally stick accounting system was an ancient method of record-keeping and financial tracking used for about | The tally stick accounting system was an ancient method of record-keeping and financial tracking used for about 700 years primarily in medieval Europe. It involved the use of notched wooden sticks, typically made from hazel or willow, which were split lengthwise into two pieces: one half, called the "stock," was kept by the creditor or issuer (often the government or a bank—the "stock holder"), while the other, the "foil," was given to the debtor or payee. Notches of varying sizes were carved into the stick to represent specific monetary values or quantities, and the split ensured that the two halves could be matched together later to verify authenticity and prevent fraud. This simple yet effective system was widely used for tax collection, loans, and trade transactions, most notably in England, where the Exchequer employed tally sticks until 1826, after which their disposal famously contributed to the burning of the Houses of Parliament in 1834 due to a furnace overload. | ||
In the 1993 documentary "The Money Masters", [https://youtu.be/AOk3wBuQNcE?si=mkjH8bdp1Gf3qxkg&t=1112 the Tally Stick section] explains how the verifiably fair and just system was key to the prosperity of England during that time. | |||
Latest revision as of 12:34, 2 March 2025
The tally stick accounting system was an ancient method of record-keeping and financial tracking used for about 700 years primarily in medieval Europe. It involved the use of notched wooden sticks, typically made from hazel or willow, which were split lengthwise into two pieces: one half, called the "stock," was kept by the creditor or issuer (often the government or a bank—the "stock holder"), while the other, the "foil," was given to the debtor or payee. Notches of varying sizes were carved into the stick to represent specific monetary values or quantities, and the split ensured that the two halves could be matched together later to verify authenticity and prevent fraud. This simple yet effective system was widely used for tax collection, loans, and trade transactions, most notably in England, where the Exchequer employed tally sticks until 1826, after which their disposal famously contributed to the burning of the Houses of Parliament in 1834 due to a furnace overload.
In the 1993 documentary "The Money Masters", the Tally Stick section explains how the verifiably fair and just system was key to the prosperity of England during that time.
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