"Medium of exchange" Quotes from Famous Books
 ... necessarily extravagant of money. They know not its value. They know, indeed, that ten mills make one cent, and that ten cents make one dime, and that ten dimes make one dollar; but they are ignorant of the practical value of these denominations of the great medium of exchange. They cannot "jew," and know not that the slight percentage they would take off the price asked is a prize worth contending for. Again, the physical exhaustion or reaction which almost invariably follows mental exertion requires ...
— The Atlantic Monthly, Vol. 12, No. 74, December, 1863 • Various
... entry identifies the national medium of exchange and, in parenthesis, gives the International Organization for Standardization (ISO) 4217 alphabetic currency ...
— The 2007 CIA World Factbook • United States
... 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, ...
— African Camp Fires • Stewart Edward White
... division of labour is well established, every man becomes in some measure a merchant, and the society becomes a commercial society; and the continual process of exchange leads inevitably to the origin of money. In the absence of money or a general medium of exchange, society would be restricted to the cumbersome method of barter. Every man therefore would early endeavour to keep by him, besides the produce of his own industry, a certain quantity of some commodity ...
— The World's Greatest Books—Volume 14—Philosophy and Economics • Various
... 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 ...
— The Complete Book of Cheese • Robert Carlton Brown
... of stones and mortar, and some of wood or straw. The streets are narrow, few of them admit of the passage of two camels abreast. Several covered bazaars are built for merchandize. There are no native manufactures of consequence. Timbuctoo is properly a commercial depôt or emporium. The principal medium of exchange is salt, which is very inconvenient. The grand desideratum of merchants is the acquisition and accumulation of gold, but this is obtained only by a long and wearying residence in Timbuctoo, and is very uncertain in supply. ...
— Travels in the Great Desert of Sahara, in the Years of 1845 and 1846 • James Richardson
... Valley Forge, when the enemy was in possession of the fairest part of the country together with the two most important cities, when Congress could not pay its bills, nor meet the national debt which alone exceeded forty million dollars,—when the medium of exchange would not circulate because of its worthlessness, when private debts could not be collected and when credit was generally prostrated, the Alliance proved a benefit of incalculable value to the struggling ...
— The Loyalist - A Story of the American Revolution • James Francis Barrett
... a medium of exchange is oversupplied. The lack is in the goods to be exchanged. The enormous extension of German note issues does not, and can not, diminish. In this country the expansion of credit and money immediately after the war (manifested ...
— New York Times Current History: The European War, Vol 2, No. 1, April, 1915 - April-September, 1915 • Various
... Confederation Government can be found which does not lead in the last analysis to the financial situation both during and following the war. Suddenly plunged into the Revolutionary War, drained of ready money by the colonial system, possessed of no mines, mints, nor any resource for securing a medium of exchange except an undependable paper promise to pay, the people of the United States emerged from the war broken in purse and overwhelmed with debt. According to Jefferson's estimate made at the time, they owed at least sixty-eight millions of dollars. To this fruit of the war he added the ...
— The United States of America Part I • Ediwn Erle Sparks
... cells of the uterine surface and the most advanced cells constituting the vanguard of the growing and multiplying ovum. These front line invaders interact with the cells in contact with them to make a new organ which serves as lung, stomach and kidney for the embryo, since it is the medium of exchange of oxygen, foodstuffs and waste products between the blood of the mother and the blood of the embryo. Ultimately it acts, too, as a gland of internal secretion, influencing the internal secretions of the mother, and ...
— The Glands Regulating Personality • Louis Berman, M.D.
... environment of physical danger, high unemployment, and growing shortages. The central government's ability to collect taxes has suffered greatly from militia control and taxation of local areas. As the civil strife persists, the US dollar has become more and more the medium of exchange. Transportation, communications, and other parts of the infrastructure continue to deteriorate. Family remittances, foreign political money going to the factions, international emergency aid, and a small volume of manufactured exports help prop up the battered ...
— The 1990 CIA World Factbook • United States. Central Intelligence Agency
... of the use of paper currency dates from 1661, when the feudal chief of Echizen obtained permission from the Bakufu to employ this medium of exchange, provided that its circulation was limited to the fief where the issue took place. These paper tokens were called hansatsu (fief notes), and one result of their issue was that moneys accruing from the sale of cereals and other products of a fief were preserved ...
— A History of the Japanese People - From the Earliest Times to the End of the Meiji Era • Frank Brinkley and Dairoku Kikuchi |
