Medium-of-exchange sentence example
This, as well as the word pecunia for money (pecus, cattle), indicates the fact of cattle having been the earliest Italian medium of exchange.
It is the universal medium of exchange throughout China for all retail transactions.
When the division of labour has been established, each member of the society must have recourse to the others for the supply of most of his wants; a medium of exchange is thus found to be necessary, and money comes into use.
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.
In the interior the principal medium of exchange among the natives is the large earthenware jars, imported originally, it is believed, from China, which form the chief wealth both of tribes and individuals.Advertisement
The medium of exchange is the Indian rupee (=16d.), with the subsidiary coinage of Mauritius.
But the richest of all the sources of wealth in Attica was the silver mines of Laurium, the yield of which was so considerable as to render silver the principal medium of exchange in Greece, so that "a silver piece" (apybpcov) was the Greek equivalent term for money.
There was an outflow of hard currency, leaving the colonists with no medium of exchange.