debts; EB1911 templates
← Older revision
Revision as of 07:22, 31 August 2016
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|wikipedia = Token money
|wikipedia = Token money
}}<!-- p. 1047 --><!-- column 2 -->
}}<!-- p. 1047 --><!-- column 2 -->
−
'''TOKEN MONEY'''
,
the term employed originally to describe
+
'''TOKEN MONEY
,
''' the term employed originally to describe
−
the counters or
"tokens"
issued by traders to meet the lack
+
the counters or
“tokens”
issued by traders to meet the lack
of small change. It has now been appropriated by economists
of small change. It has now been appropriated by economists
and officials to denote the smaller currency that circulates at a
and officials to denote the smaller currency that circulates at a
nominal value higher than its cost. It is contrasted with
nominal value higher than its cost. It is contrasted with
−
"standard"
money, and is limited in its amount by state
+
“standard”
money, and is limited in its amount by state
−
authority. Its power of discharging
debt
is also limited:
+
authority. Its power of discharging
debts
is also limited:
in England, ''e.g.'', silver is legal tender only up to 40s., copper to
in England, ''e.g.'', silver is legal tender only up to 40s., copper to
12 pence. Various substances have been utilized for the manufacture
12 pence. Various substances have been utilized for the manufacture
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French 5-franc pieces—is midway between token and standard
French 5-franc pieces—is midway between token and standard
money. Representative money also bears some analogy to
money. Representative money also bears some analogy to
−
token coinage. (See
[[../Money|
{{
sc
|Money}}
]]
and
[[../Seignorage|
{{
sc
|
Seignorage
}}
]]
.)
([[Author:
Charles Francis Bastable|C. F. B.
]])
+
token coinage. (See {{
EB1911 article link
|Money}} and {{
EB1911 article link
|
Seigniorage
}}.)
{{EB1911 footer initials|
Charles Francis Bastable|C. F. B.
}}
{{DEFAULTSORT:Token Money}}
{{DEFAULTSORT:Token Money}}