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Medium of exchange   /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.






Collaborative International Dictionary of English 0.48








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"Medium of exchange" Quotes from Famous Books



... medium of exchange necessary in the transaction of business between citizens; that it is the first duty of government to provide this medium for its citizens directly and at the minimum expense; that it should not be considered property in any sense, ...
— The Arena - Volume 4, No. 21, August, 1891 • Various

... related to the productions of Africa, and the dispositions and manners of the natives. The second, to the methods of reducing them to slavery. The third, to the manner of bringing them to the ships, their value, the medium of exchange, and other circumstances. The fourth, to their transportation. The fifth, to their treatment in the colonies. The sixth, to the seamen employed in the trade. These tables contained together one hundred and forty-five questions. My idea was that they should ...
— The History of the Rise, Progress and Accomplishment of the - Abolition of the African Slave-Trade, by the British Parliament (1839) • Thomas Clarkson

... well as those on the nine. It was easy to bet beads against beads and skins against skins, in a simple game of odd or even, but when the element of different values for different combinations was introduced, some medium of exchange was needed to relieve the complications. Stones of fruit were employed just as chips or counters are used in modern gambling games, and a regular bank was practically instituted. Each player took a certain number of these counters, as the equivalent of the ...
— Indian Games • Andrew McFarland Davis



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