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"That first money must just be token money.
In response, Muḥammad ibn Tughluq attempted to reduce the weight of his coins and experimented with token money.
Because coins are now issued only as token money for domestic purposes, they no longer need possess a high intrinsic value, and low-standard silver or certain base-metal alloys provide all the qualities required.
Token money notes made of embroidered white deerskin, with a face value of 400,000 coins, were used to collect government revenues.
By the same token, money could get siphoned to al-Qaeda forces, also our enemy, despite the fact that they are fighting against the al-Assad regime.
The experiment was using token money denominated in New Taiwan Dollars.
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The owner receives token price money if the horse passes a recruitment race, which is arranged by NTA to stimulate early training.
(As St. Clair McKelway pointed out in these pages years ago, people made tokens, early money, to stand for the goods they had accumulated, and then criminal-minded counterfeiters made tokens to stand for the tokens).
The procedure involves giving the subject 100 tokens to allocate between the sooner and later time period, and then varying the exchange rate between tokens and money for sooner or later amounts.
Labour on the market is paid via people's stored exchange-value tokens, ie money.
Accordingly, it is premature to suggest that the use of physical tokens for money is, after 4,000 years, about to come to an end.
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