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7/31/2019 Presentasi Reading

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OF THE ORIGIN AND USE OFMONEY

4th GROUPAHMAD MIFTACHUL HUDA (100431401684)

ARINAYA AL FATAH

(100431401682)

DIANA TRI RAHAYU PUTRI (100431401685)RIZKY RAMADHANI (100431401700)

ULLYA YULISTIANA

(100431401671)


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1st PARAGRAPH

Every man thus lives by

exchanging, or becomes in

some measure a merchant,and the society itself growsto be what is properly a

commercial society.


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2nd PARAGRAPH

But when the division of labourfirst began to take place, this

power of exchanging must

frequently have been verymuch clogged and

embarrassed in its operations.


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3rd PARAGRAPH

In the rude ages of society, cattleare said to have been the commoninstrument of commerce; and,

though they must have been a mostinconvenient one, yet in old timeswe find things were frequently

valued according to the number ofcattle which had been given inexchange for them.


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4th PARAGRAPH

In all countries, however, menseem at last to have been

determined by irresistible

reasons to give the preference,for this employment, to metals

above every other commodity


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5th PARAGRAPH

The man who wanted to buysalt, for example, and had

nothing but cattle to give in

exchange for it, must havebeen obliged to buy salt to the

value of a whole ox, or a whole

sheep at a time.


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6th PARAGRAPH

Different metals have beenmade use of by different

nations for this purpose.


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7th PARAGRAPH

These bars, therefore,performed at this time the

function of money.


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8th PARAGRAPH

The use of metals in this rudestate was attended with two

very considerable

inconveniencies; first, with thetrouble of weighing; and,

secondly, with that of assaying

them


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9th PARAGRAPH

The first public stamps of this kind that wereaffixed to the current metals, seem in manycases to have been intended to ascertain, whatit was both most difficult and most important to

ascertain, the goodness or fineness of themetal, and to have resembled the sterling markwhich is at present affixed to plate and bars ofsilver, or the Spanish mark which is sometimesaffixed to ingots of gold, and which beingstruck only upon one side of the piece, and notcovering the whole surface, ascertains thefineness, but not the weight of the metal


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10th PARAGRAPH

The inconveniency and difficulty ofweighing those metals withexactness gave occasion to the

institution of coins, of which thestamp, covering entirely both sidesof the piece and sometimes the

edges too, was supposed toascertain not only the fineness, butthe weight of the metal


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11th PARAGRAPH

The denominations of thosecoins seem originally to have

expressed the weight or

quantity of metal contained inthem.


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12th PARAGRAPH

From the time of Charlemagneamong the French, and from that ofWilliam the Conqueror among the

English, the proportion between thepound, the shilling, and the penny,seems to have been uniformly the

same as at present, though thevalue of each has been verydifferent.


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13th PARAGRAPH

It is in this manner that moneyhas become in all civilized

nations the universal

instrument of commerce, by theintervention of which goods of

all kinds are bought and sold,

or exchanged for one another


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14th PARAGRAPH

These rules determine whatmay be called the relative or

exchangeable value of goods.


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15th PARAGRAPH

The word value, it is to beobserved, has two differentmeanings, and sometimes

expresses the utility of someparticular object, andsometimes the power of

purchasing other goods whichthe possession of that objectconveys


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20th PARAGRAPH

what are the causes whichsometimes hinder the market

price, that is, the actual price of

commodities, from coincidingexactly with what may be called

their natural price


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LAST PARAGRAPH

I shall endeavour to explain, asfully and distinctly as I can,

those three subjects in the

three following chapters, forwhich I must very earnestly

entreat both the patience and

attention of the reader


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THANKSA BUNCH

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