Medium of Exchange Quotes

Gold is money. Everything else is credit.

People would rather have art or gold instead of paper money.

Although gold and silver are not by nature money, money is by nature gold and silver.

Money is the general medium of exchange. It is the thing for which all other goods are traded, the means of final payment for such goods on the market.

Money is the representative of a certain quantity of corn or other commodity. It is so much warmth, so much bread.

Money is a wonderful invention. It lets us save, it lets us specialize, right? I couldn't be a professor if there wasn't any money. Every day I would have to raise chicken and bread and broccoli and go ahead and spend all my time trading. So, money is a wonderful mechanism.

The Medium of Exchange, the only thing which gives life to Business, Employs the Poor, Feeds the Hungry, and Cloaths the Naked, is so Exhausted; that in a little time we shall not have wherewith to Buy our Daily Bread, much less to pay our Debts or Taxes

Money is the medium of exchange, and it's how you make things happen. To say you hate it is some farfetched, idealistic crap.

Money is only important in a society when certain resources for survival must be rationed and the people accept money as an exchange medium for the scarce resources. Money is a social convention, an agreement if you will. It is neither a natural resource nor does it represent one. It is not necessary for survival unless we have been conditioned to accept it as such.

Money was invented for a reason. We've seen people try to use beans, etc. and it doesn't work.

Money is not, properly speaking, one of the subjects of commerce; but only the instrument which men have agreed upon to facilitate the exchange of one commodity for another

What is money, after all? Almost nothing, when one has a sufficiency of it.

It is particularly odd that economists who profess to be champions of a free-market economy, should go to such twists and turns to avoid facing the plain fact: that gold, that scarce and valuable market-produced metal, has always been, and will continue to be, by far the best money for human society.

The institution of a bank has also a natural relation to the regulation of trade between the States, in so far as it is conducive to the creation of a convenient medium of exchange between them, and to the keeping up a full circulation, by preventing the frequent displacement of the metals in reciprocal remittances Money is the very hinge on which commerce turns. And this does not merely mean gold and silver; many other things have served the purpose, with different degrees of utility. Paper has been extensively employed.

If you want an alternative currency, check out gold. It has stood the test of thousands of years as a store of value and medium of exchange.

Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods.

Money was of no value whatever. Gold is quite unknown; it is thought to be brass; trade is carried on by barter alone. The people know nothing of money.

Money, first and foremost, is a medium of communication, conveying the information we call 'price'. Government control of the money supply is censorship, a violation of the First Amendment. Inflation is a lie.

Most people believe, mistakenly, that wealth in a human society has something to do with money, but that's not true. Money is simply a medium of exchange. Prosperity in a human society is the accumulation of solutions to human problems that we create for ourselves.

Money does not arise by convention, any more than the state does. It arises out of exchange, and arises naturally out of exchange; it is a product of the same.

Money appears as measure (in Homer, e.g. oxen) earlier than as medium of exchange, because in barter each commodity is still its own medium of exchange. But it cannot be its own or its own standard of comparison.