Download Credit and State Theories of Money: The Contributions of A. by L. Randall Wray, A. Mitchell Innes PDF

By L. Randall Wray, A. Mitchell Innes

In 1913 and 1914, A. Mitchell Innes released a couple of articles that stand as of the simplest items written within the 20th century at the nature of cash. just recently rediscovered, those articles are reprinted the following for the 1st time. additionally, 5 new contributions study and expand the method of Innes in a couple of instructions by way of together with ancient, anthropological, sociological, archeological, and fiscal analyses of the character of cash.

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The name of the person from whom received. The name of the person by whom received. The date. ’ From the frequency with which these tablets have been met with, from the durability of the material of which they are made, from the care with which they were preserved in temples which are known to have served as banks, and more especially from the nature of the inscriptions, it may be judged that they correspond to the mediaeval tally and to the modern bill of exchange; that is to say, that they are simple acknowledgments of indebtedness given to the seller by the buyer in payment of a purchase, and that they were the common instrument of commerce.

Fr. taille. Ger. Kerbholz), a stick of squared hazelwood, notched in a certain manner to indicate the amount of the purchase or debt. The name of the debtor and the date of the transaction were written on two opposite sides of the stick, which was then split down the middle in such a way that the notches were cut in half, and the name and date appeared on both pieces of the tally. The split was stopped by a cross-cut about an inch from the base of the stick, so that one of the pieces was shorter than the other.

The name of the debtor and the date of the transaction were written on two opposite sides of the stick, which was then split down the middle in such a way that the notches were cut in half, and the name and date appeared on both pieces of the tally. The split was stopped by a cross-cut about an inch from the base of the stick, so that one of the pieces was shorter than the other. One piece, called the ‘stock,’6 was issued to the seller or creditor, while the other, called the ‘stub’ or ‘counter-stock,’ was kept by the buyer or debtor.

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