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Medium of exchange   /mˈidiəm əv ɪkstʃˈeɪndʒ/   Listen
noun
Medium  n.  (pl. L. media, E. mediums)  
1.
That which lies in the middle, or between other things; intervening body or quantity. Hence, specifically:
(a)
Middle place or degree; mean. "The just medium... lies between pride and abjection."
(b)
(Math.) See Mean.
(c)
(Logic) The mean or middle term of a syllogism; that by which the extremes are brought into connection.
2.
A substance through which an effect is transmitted from one thing to another; as, air is the common medium of sound. Hence: The condition upon which any event or action occurs; necessary means of motion or action; that through or by which anything is accomplished, conveyed, or carried on; specifically, In animal magnetism, spiritualism, etc., a person through whom the action of another being is said to be manifested and transmitted. "Whether any other liquors, being made mediums, cause a diversity of sound from water, it may be tried." "I must bring together All these extremes; and must remove all mediums."
3.
An average. (R.) "A medium of six years of war, and six years of peace."
4.
A trade name for printing and writing paper of certain sizes. See Paper.
5.
(Paint.) The liquid vehicle with which dry colors are ground and prepared for application.
6.
(Microbiology) A source of nutrients in which a microorganism is placed to permit its growth, cause it to produce substances, or observe its activity under defined conditions; also called culture medium or growth medium. The medium is usually a solution of nutrients in water, or a similar solution solidified with gelatin or agar.
7.
A means of transmission of news, advertising, or other messages from an information source to the public, also called a news medium, such as a newspaper or radio; used mostly in the plural form, i. e. news media or media. See 1st media (2).
Circulating medium, a current medium of exchange, whether coin, bank notes, or government notes.
Ethereal medium (Physics), the ether.
Medium of exchange, that which is used for effecting an exchange of commodities money or current representatives of money.






Collaborative International Dictionary of English 0.48








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"Medium of exchange" Quotes from Famous Books



... whole country was overrun with paper money. Mr. Sherman published in that year a little pamphlet, entitled, "A Caveat Against Injustice, or An Inquiry Into the Evil Consequences of a Fluctuating Medium of Exchange." He stated with great clearness and force the arguments which, unhappily, we have been compelled to repeat more than once in later generations. He denounced paper money as "a cheat, vexation, and snare, a medium whereby we are continually cheating and wronging one another in our ...
— Autobiography of Seventy Years, Vol. 1-2 • George Hoar

... carries no social prestige. More money is spent, and more frivolously, than in the early days; there are more girls, and more rich girls, to spend it; yet the indifference to it except as a mechanical convenience, a medium of exchange and an opportunity for service, continues to be ...
— The Story of Wellesley • Florence Converse

... pointed out by me in 1871 in the "Experiences of a Planter," in letters to the "Times," and in the evidence I gave when examined by the India Finance Committee of the House of Commons in 1872. There were two principal causes—the spread of the use of money instead of grain as a medium of exchange, and such a restricted development of communications that, while these were sufficient to drain the countries in the interior of their grain, they were not sufficiently developed to enable the grain to be brought back again in sufficient quantities when it was necessary to do so in times of famine. ...
— Gold, Sport, And Coffee Planting In Mysore • Robert H. Elliot

... as the necessary medium of exchange, another species of money-getting spon took place, namely, by buying and selling, at probably first in a simple manner, afterwards with more skill and experience, where and how the greatest profits might be made. For which reason the art of ...
— Politics - A Treatise on Government • Aristotle

... is no 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, in a day when they used wool, instead ...
— Stories from Everybody's Magazine • 1910 issues of Everybody's Magazine


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