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More "Medium of exchange" Quotes from Famous Books
 ... of wealth to this entire country is destroyed the moment silver is permanently disused as money. It is for us to check that tendency and bring the continent of Europe back to the full recognition of the value of the metal as a medium of exchange. ...
— American Eloquence, Volume IV. (of 4) - Studies In American Political History (1897) • Various
... for ten cents. The cheapest tobacco sold at one dollar per pound, and the men suffered as much for tobacco as for bread. The most of the users of tobacco would swap a piece of bread for a chew of tobacco. Tobacco retailed mostly by the chew. Tobacco was the most common medium of exchange. All of the smaller gambling concerns used pieces of tobacco cut up in chews, the larger cuts passing for five or ten chews. Rev. Morgan, the Confederate agent, conducted a school, which I attended some. Several preachers came in and preached to us, and the Catholic priests ...
— The Southern Soldier Boy - A Thousand Shots for the Confederacy • James Carson Elliott
... or "Cacahuatl." The Spaniards found chocolate in common use among the Mexicans at the time of the invasion under Cortez in 1519, and it was introduced into Spain immediately after. The Mexicans not only used chocolate as a staple article of food, but they used the seeds of the cacao tree as a medium of exchange. ...
— Chocolate and Cocoa Recipes and Home Made Candy Recipes • Miss Parloa
... the American, the medium of exchange between the Indian and the white man was pelts. Afterward it was silver coin. If an Indian received in the sale of a horse a fifty dollar gold piece, not an infrequent occurrence, the first thing he did was to exchange ...
— Personal Memoirs of U. S. Grant, Complete • Ulysses S. Grant
... finance. Since the amount of money in circulation was not sufficient to meet the demands of the increasing population, a system of state banks was instituted. State bonds were issued and public lands were sold to secure capital, and the notes of the banks, loaned on security, became a medium of exchange. Prospects of an income from the banks led the legislature of 1836 to abolish all taxation for state purposes. This was hardly done, however, before the panic of 1837 wiped out a large portion of the banks' assets; next came revelations of grossly careless and even of ...
— Project Gutenberg Encyclopedia
... 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 in the money market." ...
— Birdseye Views of Far Lands • James T. Nichols
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