Online Encyclopedia

Search over 40,000 articles from the original, classic Encyclopedia Britannica, 11th Edition.

TOKEN MONEY

Online Encyclopedia

Originally appearing in Volume V26, Page 1047 of the 1911 Encyclopedia Britannica.

» Make a correction to this article.
» Add information or comments to this article.

Encyclopedia Home :: THE-TOO

Spread the word:

del.icio.us it!

TOKEN See also:

MONEY

MONEY , the See also:

TERM

term employed originally to describe the counters or " tokens " issued by traders to meet the lack of small See also:

CHANGE (derived through the Fr. from the Late Lat. cambium, cambiare, to barter; the ultimate derivation is probably from the root which appears in the Gr. «a urmu', to bend)

change. It has now been appropriated by economists and officials to denote the smaller currency that circulates at a nominal value higher than its cost. It is contrasted with " See also:

standard " money, and is limited in its amount by See also:

state authority. Its See also:

POWER [WILLIAM GRATTAN] TYRONE (1797-1841)

power of discharging debts is also limited: in See also:

England, e.g., See also:

SILVER

silver is legal See also:

TENDER

tender only up to 4os., See also:

COPPER (symbol Cu, atomic weight 63.1, H=1, or 63.6, O = 16)

copper to 12 pence. Various substances have been utilized for the manufacture of token coinage—silver at a See also:

LOWER

lower degree of fineness, copper in different See also:

ALLOYS (through the Fr. aloyer, from Lat. alligare, to combine)

alloys, and See also:

nickel. The See also:

French term monnaie divisionnaire has much the same meaning; so has the See also:

German Scheidemunze. A currency, restricted in amount, but with full legal tender power—such as the See also:

INDIAN

Indian rupees and the French 5-See also:

FRANC

franc pieces—is midway between token and standard money. Representative money also bears some See also:

ANALOGY (Gr. avaXo-yLa, proportion)

analogy to token coinage. (See MONEY and See also:

SEIGNIORAGE

SEIGNIORAGE.) (C. F.

End of Article: TOKEN MONEY

Additional information and Comments

There are no comments yet for this article.

» Add information or comments to this article.

Please link directly to this article:
Highlight the code below, right click, and select "copy." Then paste it into your website, email, or other HTML.

Site content, images, and layout Copyright © 2006 - Net Industries, worldwide.
Do not copy, download, transfer, or otherwise replicate the site content in whole or in part.

Links to articles and home page are always encouraged.

[back]
TOKELAU (or UNION ISLANDS)

[next]
TOKUGAWA