History of Accounting

Page 19

ŠThe National Archives, Kew.

Tally sticks served as records or receipts for financial transactions such as the payment of taxes, debts and fines. From the 12th century they were officially employed by the Exchequer of England to collect the King’s taxes. The depth and series of notches on these sticks represented the value of the transaction. In recording a debt, wooden sticks were often split horizontally into two parts: the lender receiving one part, the stock; and the debtor, the other part, the foil. England abolished the use of tally sticks approximately 1830. There is no record on the abolishment of baboon bones. 19


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