What was a primary reason for the development of cheques?

The development of cheques was primarily driven by the need to reduce the risks associated with carrying cash. In earlier times, physical currency was the standard medium for transactions, which posed several challenges, including the dangers of theft and loss. By introducing cheques, a negotiable instrument, individuals and businesses could perform transactions without the need to carry large amounts of cash, thereby enhancing security.

Cheques allow individuals to make payments from one bank account to another without the direct transfer of physical currency. This method not only mitigates the risks involved in transporting cash but also makes transactions more manageable and less susceptible to theft or misplacement. The use of a cheque provides a layer of safety for individuals and encourages larger transactions without the associated dangers of handling cash directly.

While creating a record of purchases is a benefit of using cheques, the primary motivation was to safeguard against the risks inherent in the use of cash. Other options, such as simplifying online transactions or increasing cash circulation, do not align closely with the historical context and primary purpose for which cheques were originally created.