Media, Babylon and Persia; Including a Study of the Zend-Avesta or Religion of Zoroaster from the Fall of Nineveh to the Persian War, (Continued from

Media, Babylon and Persia; Including a Study of the Zend-Avesta or Religion of Zoroaster from the Fall of Nineveh to the Persian War, (Continued from

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1900 edition. Excerpt: ... luxuries, etc. This must have necessarily been the case especially in the commercial transactions between civilized nations and savages or semi-civilized peoples, to whom direct exchange was the only intelligible and safe financial operation. But in the transactions between merchants of the same nation or of different equally civilized nations, the need of some less cumbrous means of doing business had long been felt, --and supplied. It consisted in substituting purchase for barter, i. e., exchanging merchandises, not against other merchandise, but against something of equal value, convenient in shape and volume, which at any moment could be in its turn exchanged for whatever wares theowner needed. Of course the intrinsic value of such a medium of exchange must be a universally acknowledged one, determined by general agreement. It has from times immemorial been found expedient to invest with such standard value the so-called precious metals, gold and silver. Once the positive value of a given weight of the metal had been settled, it only remained to divide masses of it into a great many smaller pieces, each weighing a certain fraction of the standard weight, and consequently representing a certain, well-defined fraction of the standard unit value. Henceforth the merchant who sold a rug, or a dagger, or a vessel of fine glass, was not forced to take in payment a number of live sheep, or of sheepskins, or of measures of grain, or a wagon-load of hay, --or any other ponderous and cumbersome wares that his customer might happen to have on hand; nor need a farmer, disposing of his surplus stock or grain, take in exchange for it articles that, perhaps, were not at all what he wanted. A bar, or a certain number of rings of gold or silver did the business.show more

Product details

  • Paperback | 112 pages
  • 189 x 246 x 6mm | 213g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236641523
  • 9781236641526