chapter  52
7 Pages

THE NOMINAL VALUE OF MONEY

The monetary unit, the declared standard money, is insufficient to fulfil the requirements of trade. Over and above the means of payment by credit, it is everywhere supplemented by other sorts of coins. We find as such the commercial coins, small change and the current silver money. We shall not have to discuss here the commercial coin, which is intended for foreign trade. Small change and current silver are used exclusively in internal dealings; they are constituents of the monetary system of the country.