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Medium of exchange   /mˈidiəm əv ɪkstʃˈeɪndʒ/   Listen
Medium of exchange

noun
1.
Anything that is generally accepted as a standard of value and a measure of wealth in a particular country or region.  Synonym: monetary system.






WordNet 3.0 © 2010 Princeton University








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"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.


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