[Footnote 1: See Vol. I, pp. 15-16 and 50-53 for an introductory
statement of the origin of money in connection with markets.]

[Footnote 2: See ch. 5.]

[Footnote 3: See Vol. I, p. 43, on the decline of barter.]

[Footnote 4: "I will ... refine them as silver is refined, and will
try them as gold is tried." Zech. xiii, 9. "I bought the field ...
and weighed him the money, even seventeen shekels of silver. And I ...
weighed him the money in the balances." Jer. xxxii, 9, 10. A shekel
was 224 grains, troy weight, which is about equal to six-tenths of the
pure metal in a silver dollar to-day and worth now about twenty-four
cents in gold. At that time, however, the purchasing power of silver
was many times greater than it now is.]

[Footnote 5: From the French _coin_, in turn from Latin _cuneus_,
wedge, suggestive either of an earlier wedge-shaped piece, or of a
wedge-shaped mark on the piece. The German word _Münze_ is from the
Latin _moneta_ (as is the English _mint_, the place where coins are
made), which meant money, that name being taken from the temple of
Juno, called _Moneta_, where coins were made.]




CHAPTER 4

THE VALUE OF MONEY