"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
... 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 |
