"Medium of exchange" Quotes from Famous Books
 ... the public acts of the New Republicans, it will probably be found in the measures that will be directed against those who are parasitic, or who attempt to be parasitic, upon the social body, either by means of gambling, by manipulating the medium of exchange, or by such interventions upon legitimate transactions as, for example, the legal trade union in Great Britain contrives in the case of house property and land. Simply because he fails more often than he succeeds, there is still a disposition ...
— Anticipations - Of the Reaction of Mechanical and Scientific Progress upon - Human life and Thought • Herbert George Wells
... who paid a certain fixed proportion of the produce to their masters. It is said that Lycurgus forbade the use of gold and silver, and ordained an iron coinage; but gold and silver were at that time unknown as coins in Sparta, and iron was a common medium of exchange throughout Greece. The interdiction of the precious metals was therefore of later origin. It seems to have only related to private Spartans. For those who, not being Spartans of the city—that is to say, for the Laconians or Perioeci— engaged in commerce, the interdiction could not have existed. ...
— Athens: Its Rise and Fall, Complete • Edward Bulwer-Lytton
... supporters of the traffic. According to them, to refuse brandy to the Indians was to let the English monopolize the profitable fur trade, and therefore to check the development of New France. The fur trade provided an abundance of beaver skins, which formed a most convenient medium of exchange. The possession of these gave an impetus to trade, and brought to Canada a number of merchants and others who were consumers of natural products and money spenders. Moreover, in Canada furs were the main article of exportation. Their abundance swelled the public revenue ...
— The Great Intendant - A Chronicle of Jean Talon in Canada 1665-1672 • Thomas Chapais
... money as a medium of exchange led naturally to a system of banking. In Babylonia, for instance, the bankers formed an important and influential class. One great banking house, established at Babylon before the age of Sennacherib, ...
— EARLY EUROPEAN HISTORY • HUTTON WEBSTER
... Blood, and the Cells.*—While the blood is necessary as a carrying, or transporting, agent in the body, the lymph is necessary for transferring materials from the blood to the cells and vice versa. Serving as a physiological "go between," or medium of exchange, the lymph enables the blood to minister to the needs of the cells. But the lymph and the blood, everything considered, can hardly be looked upon as two separate and distinct liquids. Not only do they supplement each other in their work and possess ...
— Physiology and Hygiene for Secondary Schools • Francis M. Walters, A.M.
... gold, when lawyers supported their pleadings before judges with gifts of what appeared at first sight to be oranges and bananas, but proved to be solid gold imitations, when guests were entertained at dinner with pebbles of gold in their soup and when nuggets were the most convenient medium of exchange ...
— Birdseye Views of Far Lands • James T. Nichols
... owed, at the end of the year 1863, $1,221,000,000; the State Governments, the counties and cities, probably owed as much more. Paper money, the only medium of exchange, was fast giving way to barter. One dollar in gold was worth twenty dollars in Confederate currency. The monthly wage of a common soldier was not sufficient to buy a bushel of wheat. People who lived in the cities ...
— Expansion and Conflict • William E. Dodd
... used by the Aztecs not only for the preparation of a beverage, but also as a circulating medium of exchange. For example, one could purchase a "tolerably good slave" for 100 beans. We read that: "Their currency consisted of transparent quills of gold dust, of bits of tin cut in the form of a T, and of bags of cacao containing a specified number ...
— Cocoa and Chocolate - Their History from Plantation to Consumer • Arthur W. Knapp
... Gold was furnished from the mountains and deserts of Thibet and India, from the rivers of Lydia, and probably from other places where it is still found, as Armenia, Cabul, and the neighborhood of Meshed. Silver, which was the general medium of exchange in Persia, must have been especially plentiful. It was probably yielded, not only by the Kerman mines, but also by those of Armenia, Asia Minor, and the Elburz. Copper was obtained in great abundance from Cyprus, as well as from Carmania; and it may have been also derived, ...
— The Seven Great Monarchies Of The Ancient Eastern World, Vol 5. (of 7): Persia • George Rawlinson
... the colony was a medium of exchange: something that could be used for money. As the balance of trade was heavily in favor of the Mother Country, there was no opportunity for an accumulation of English money in America. So tobacco became acceptable for goods, services, and the payment of debts. Salaries were fixed ...
— Agriculture in Virginia, 1607-1699 • Lyman Carrier
... 'cheese money' of Northern China, 1850-70, now in the Chase Bank collection, came to me personally some thirty years ago from a woman missionary, who had been located in the field where she said a cake form of condensed milk, and referred to as 'cheese,' was a medium of exchange among the natives. It, like other commodities, particularly compressed tea, was prized as a trading medium in China, in that it had value as nutriment and was sufficiently appreciated by the population as to be exchangeable for ...
— The Complete Book of Cheese • Robert Carlton Brown
... to give a just idea of the trade and profits on different articles sold at Sansanding, I have annexed a list of European and African articles, with their respective values in cowries, the great medium of exchange and the general currency ...
— The Journal Of A Mission To The Interior Of Africa, In The Year 1805 • Mungo Park
... original money-good. The selection of any money-commodity has not been mere chance, but has been the result of that object being better fitted than others to serve as a medium of exchange. The main qualities that affected the selection of primitive form of money were as follows: 1. Marketability (or saleability); that is, it must be easy to sell. The first forms of money had to be things which every one desired at some time and many people desired at any time. That was the essential ...
— Modern Economic Problems - Economics Vol. II • Frank Albert Fetter
... which freely circulates from hand to hand, in any country, as a common, acceptable medium of exchange, is, in such country, money, even though it ceases to be such, or to possess any value, when passing into another country. In a word, an article is determined to be money by reason of the performance by it of certain functions, without regard to its ...
— The Arena - Volume 18, No. 92, July, 1897 • Various
... building functions to perform in connection with the body, and that it is at the same time subject to suggestion and direction from the active thinking mind, would indicate that it may be the true connecting link, the medium of exchange, between the soul and the body, the connector of the spiritual and the material so ...
— The Higher Powers of Mind and Spirit • Ralph Waldo Trine
... present remarks—when that money was well within the command and subject to the recall of its owners; and by taking, so to speak, and locking it up in a repository which could not be opened, the circulating medium of exchange soon became a scarce commodity to those who but lately had possessed it ...
— Chambers's Edinburgh Journal, No. 419, New Series, January 10, 1852 • Various
... of importance here, we may well consider the units of discourse. Our first unit is that of the whole composition, the second that of the paragraph, and the third that of the sentence. Which of these is the prime unit, as the dollar is the prime unit of our medium of exchange, may not be evident at once; but if we examine the writing of clear thinkers carefully, without attempting to settle the matter in any doctrinaire fashion, we shall find that the paragraph, and not the sentence, is the ...
— The Writing of the Short Story • Lewis Worthington Smith
... given to pieces of metal, on which the public authority has impressed different marks to indicate their weight and value, to make them a convenient medium of exchange. By the word medals, when used in reference to modern times, is understood pieces of metal similar to coins but not intended as a medium of exchange, but struck and distributed to commemorate some important event, or in ...
— Anecdotes of Painters, Engravers, Sculptors and Architects and Curiosities of Art (Vol. 3 of 3) • S. Spooner
... rural civilization would be reduced to that of former generations, and its advance would be possible only when the industries which furnish its material basis were revived and confidence in the medium of exchange were again established. The city owes its existence to the farm, but without the city the farm would go back to the hoe and the sickle ...
— The Farmer and His Community • Dwight Sanderson
... on time. The faith that moveth mountains was powerless to conjure flour and sugar and tea out of those dusky woods and silent waterways—at least not without a canoe and labor and a certain requisite medium of exchange. ...
— Burned Bridges • Bertrand W. Sinclair
... As the blood flows along the capillaries, certain parts of the plasma of the blood filter through their walls into the lymph, and certain parts of the lymph filter through the cell walls of the tissues and mingle with the blood current. The lymph thus acts as a medium of exchange, in which a transfer of material takes place between the blood in the capillaries and the lymph around them. A similar exchange of material is constantly going on between the lymph and the ...
— A Practical Physiology • Albert F. Blaisdell
... things which, as we say, money cannot buy. In all these things of the higher life we have no recognized medium of exchange. We are still in the stage of primitive barter. We must bring all our moral goods with us, and every transaction involves endless dickering. If we express an appreciation for one good thing, we are at once reproached by all the ...
— Humanly Speaking • Samuel McChord Crothers
... here—knives, cloth, and arrack forming the only medium of exchange, with tobacco for small coin. Every transaction is the subject of a special bargain, and the cause of much talking. It is absolutely necessary to offer very little, as the natives are never satisfied till you add a little more. They are then far better pleased than if you had given ...
— The Malay Archipelago - Volume II. (of II.) • Alfred Russel Wallace
... as expressed in units of local currency per US dollar and as determined by international market forces or official fiat. The International Organization for Standardization (ISO) 4217 alphabetic currency code for the national medium of exchange ...
— The 2008 CIA World Factbook • United States. Central Intelligence Agency.
... other word that means quite so much. We want gold; indeed, we must have it. Malleable, divisible, indestructible, rare, it is the indispensable medium of exchange. It is our chosen unit of power and success, the measure of civilization and human attainment. Hence it has always been the object of human desire. The Golden Fleece very probably was the sheepskin bottom of an old-time sluice-box, ...
— Stories from Everybody's Magazine • 1910 issues of Everybody's Magazine
... use. There is no other possible reason, yet that reason is forced into the background and instead we have operations carried on, not to the end of service, but to the end of making money—and this because we have evolved a system of money that instead of being a convenient medium of exchange, is at times a barrier to ...
— My Life and Work • Henry Ford
... life, become an instrument of danger in the hands of a child? The invention of money has been rightly compared to the invention of writing with letters.(700) We may, however, call the introduction of money as the universal medium of exchange (money-economy),(701) in which goods intended for use are exchanged against money(702)—instead of barter (barter economy), which is a system of public economy (Schaeffle), in an, as yet, very little developed form, man being there less sociable with his fellow men—one of the greatest ...
— Principles Of Political Economy • William Roscher
... anti-Bolshevik Russians, who, not understanding Johnny's claims and his motives, might, at any time, launch an expedition against them. To the southwest were the radical Bolsheviki, who, obtaining knowledge of these rich deposits of gold, might start a land force across country to secure this much needed medium of exchange. Then there were the Chukches. Wild, superstitious tribes of spirit-worshipping people, they might come down from the north in thousands to wipe out this first white settlement established ...
— Panther Eye • Roy J. Snell
... oil. From the cultivator each of these artisans receives his traditional share of grain. Thus almost all the economic transactions are carried on without the use of money. To the villagers money is only a store of value, not a medium of exchange. When they happen to be rich in money, they hoard it either in coins or make ornaments ...
— The Case For India • Annie Besant
... the sudden development of the world-market, the substitution of a money medium of exchange for direct barter—all these new factors were doing their work. Obviously the great gainers by the events of the momentous year were the representatives of the centralizing principle. But the effective ...
— German Culture Past and Present • Ernest Belfort Bax
... entry identifies the national medium of exchange and, in parenthesis, gives the International Organization for Standardization (ISO) 4217 alphabetic currency ...
— The 2005 CIA World Factbook • United States. Central Intelligence Agency
... Somalis conduct regular trading expeditions into Masailand, bringing in small herds of cows bought with trade goods from the other tribes. These they barter with the Masai for sheep. In Masai estimation a cow is the most valuable thing on earth, while a sheep is only a medium of exchange. With such notions it is easy to see that the white man can make an advantageous exchange, in spite of the Masai's well-known shrewdness at a bargain. Each side is satisfied. There remains only to find a market for the sheep—an easy matter. A small herd of cows will, in the long ...
— African Camp Fires • Stewart Edward White
... the old "Dutchman," George Hartman, on the Yadkin, and occasionally at Bethabara, the Moravian town sixty odd miles distant. Skins were in such demand that they soon came to replace hard money, which was incredibly scarce in the back country, as a medium of exchange. Upon one occasion a caravan from Bethabara hauled three thousand pounds, upon another four thousand pounds, of dressed deerskins to Charleston. So immense was this trade that the year after Boone's arrival at the Forks of Yadkin thirty thousand deerskins were exported ...
— The Conquest of the Old Southwest • Archibald Henderson
... we are trying to teach them. They are of no value except as a medium of exchange. Money is of no value, except as it enables us to buy something with it. When you have a five-cent piece and a taro root before you, and are hungry, ...
— The Wonder Island Boys: Conquest of the Savages • Roger Thompson Finlay |
