The term "stick" refers to a type of tally stick that was historically used to record financial transactions in England. Tally sticks were pieces of wood marked with notches to indicate the amount of money owed or paid.
Photo courtesy of Wikipedia
However, the use of tally sticks as a form of payment was abolished in England in the early 19th century, and by the time the London Stock Exchange was established in the mid-19th century, paper currency and coins were the primary means of payment. Today, financial transactions on the London Stock Exchange and other modern stock exchanges are conducted electronically, with money being transferred through bank accounts or other electronic payment systems.
Tally sticks were a historical form of record-keeping and currency in England that dates back to the medieval period. They were long, thin sticks made from wood, typically willow or hazel, with notches or marks cut along one edge to represent a specific amount of money or goods. The sticks were then split lengthwise, with one half kept by the creditor and the other half by the debtor as proof of the transaction.
Tally sticks were used as a form of currency and a means of recording debts and payments for several centuries in England, from the medieval period until the early 19th century. They were particularly popular in rural areas, often used by farmers and small merchants. However, the use of tally sticks as a form of currency was eventually abolished in England in 1826, as part of a move towards a more modern banking and finance system.
