MEDIUM OF EXCHANGE • DICCIONARIO INGLES.COM • Definition of Medium of exchange

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/mˈidiəm əv ɪkstʃˈeɪndʒ/ Listen

noun

Medium n. (pl. L. media, E. mediums)

1.

That which lies in the middle, or between other things; intervening body or quantity. Hence, specifically:

(a)

Middle place or degree; mean. "The just medium... lies between pride and abjection."

(b)

(Math.) See Mean.

(c)

(Logic) The mean or middle term of a syllogism; that by which the extremes are brought into connection.

2.

A substance through which an effect is transmitted from one thing to another; as, air is the common medium of sound. Hence: The condition upon which any event or action occurs; necessary means of motion or action; that through or by which anything is accomplished, conveyed, or carried on; specifically, In animal magnetism, spiritualism, etc., a person through whom the action of another being is said to be manifested and transmitted. "Whether any other liquors, being made mediums, cause a diversity of sound from water, it may be tried." "I must bring together All these extremes; and must remove all mediums."

3.

An average. (R.) "A medium of six years of war, and six years of peace."

4.

A trade name for printing and writing paper of certain sizes. See Paper.

5.

(Paint.) The liquid vehicle with which dry colors are ground and prepared for application.

6.

(Microbiology) A source of nutrients in which a microorganism is placed to permit its growth, cause it to produce substances, or observe its activity under defined conditions; also called culture medium or growth medium. The medium is usually a solution of nutrients in water, or a similar solution solidified with gelatin or agar.

7.

A means of transmission of news, advertising, or other messages from an information source to the public, also called a news medium, such as a newspaper or radio; used mostly in the plural form, i. e. news media or media. See 1st media (2).

Circulating medium, a current medium of exchange, whether coin, bank notes, or government notes.

Ethereal medium (Physics), the ether.

Medium of exchange, that which is used for effecting an exchange of commodities money or current representatives of money.

See images of 'Medium of exchange'

Etymology of 'Medium of exchange'

Collaborative International Dictionary of English 0.48

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"Medium of exchange" Quotes from Famous Books

... bushels of corn for a plow, where it would be necessary to go to the great trouble of finding a man who had a plow, and also wanted your corn, you sell it for so much money, and with this money you buy a plow. Money is thus but a medium of exchange ...

— Government and Administration of the United States • Westel W. Willoughby and William F. Willoughby

... given to pieces of metal, on which the public authority has impressed different marks to indicate their weight and value, to make them a convenient medium of exchange. By the word medals, when used in reference to modern times, is understood pieces of metal similar to coins but not intended as a medium of exchange, but struck and distributed to commemorate some important event, or in memory of some distinguished personage. ...

— Anecdotes of Painters, Engravers, Sculptors and Architects and Curiosities of Art (Vol. 3 of 3) • S. Spooner

... backwoodsman—sometimes even with a flintlock and called by some pet feminine name. Once he saw the hominy block that the mountaineers had borrowed from the Indians, and once a handmill like the one from which the one woman was taken and the other left in biblical days. He struck communities where the medium of exchange was still barter, and he found mountaineers drinking metheglin still as well as moonshine. Moreover, there were still log-rollings, house-warmings, corn-shuckings, and quilting parties, and sports were the same as in pioneer days—wrestling, racing, jumping, ...

— The Trail of the Lonesome Pine • John Fox, Jr.

... no English, yet they must needs find a medium of exchange for their valuable views, she tried to teach him to speak Cherokee. He was a bird, her little bird, she told him by signs, and his name was Tsiskwa. This she repeated again and again in the velvet-soft fluting of her voice. But no! he revolted. His name was Archie ...

— The Ordeal - A Mountain Romance of Tennessee • Charles Egbert Craddock

... was that of finance. Since the amount of money in circulation was not sufficient to meet the demands of the increasing population, a system of state banks was instituted. State bonds were issued and public lands were sold to secure capital, and the notes of the banks, loaned on security, became a medium of exchange. Prospects of an income from the banks led the legislature of 1836 to abolish all taxation for state purposes. This was hardly done, however, before the panic of 1837 wiped out a large portion of the banks' assets; next came revelations of grossly careless and even of corrupt management, ...

— Project Gutenberg Encyclopedia

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