Encyclopedia of Money by Dipen

Yen The yen is the money of account for Japan, comparable to the dollar for the United States. By the 1990s the Japanese yen had bec...

Yeltsin’s Monetary Reform in Russia Russia opened the 1990s in monetary chaos, manifested by soaring inflation, and a currency, the ...

Yap Money The inhabitants of the island of Yap, one of the Caroline Islands in the central Pacific, adopted large, thick stone wheels...

World Bank The World Bank, officially the International Bank for Reconstruction and Development, is the largest provider of developme...

Wizard of Oz The book The Wonderful Wizard of Oz, by L. Frank Baum, is one of the most famous of American children’s stories and the...

Wildcat Banks (United States) During the pre–Civil War era, wildcat banks, although technically legal, abused the bank note-issuing a...

Whale Tooth Money in Fiji The case of whale tooth money on the island of Fiji shows how a commodity can become a symbol of wealth in ...

Wendish Monetary Union From the mid-fourteenth century to the mid-fifteenth century the Wendish Monetary Union maintained and guarded...

Wampumpeag Wampumpeag was a famous currency used by the American Indians, particularly but not exclusively along the eastern seaboar...

Wage and Price Controls Wage and price controls freeze wages and prices at a certain point in time, and perhaps establish procedures ...

Virginia Tobacco Act of 1713 The Virginia Tobacco Act of 1713 created the most advanced form of a commodity monetary standard found i...

Virginia Colonial Paper Currency In the last half of the eighteenth century the colonial government of Virginia was the last of the c...

Venetian Ducat During the late Middle Ages the Venetian ducat became the preferred international currency, sometimes referred to as ...

Velocity of Money The velocity of money is the average number of times per year that a unit of currency (e.g., U.S. dollar, Japanese ...

Vellon Originally, vellon was a mixture of copper and silver that became widely used for subsidiary coinage in Spain in the sixteenth...

Variable Commodity Standard Under a variable commodity standard a currency is officially redeemable in a certain amount of a commodit...

Value of Money The value of money has to do with the purchasing power of a unit of money. One approach to the measurement of money va...

Vales (Spain) Vales were Spanish paper money notes issued in the late eighteenth century and the Napoleonic era, the first paper mon...

Usury Laws Usury laws either prohibit payment of interest on loans or set a maximum interest rate that lenders can charge. Historical...

Tzarist Russia’s Paper Money Of the European countries only Sweden beat Russia to the punch on the issuance of government-sanctioned ...

Trial of the Pyx (England) The Trial of the Pyx was a public trial or test of the purity of gold and silver coins that began in the t...

Treasury Notes Treasury notes were interest-bearing treasury bonds that circulated as money in the pre–Civil War era in the United St...

Trapesite Banking Trapesite banking is the term for private banking that arose during the mid-fourth century in ancient Greece. The ...

Trade Dollar In 1873 Congress authorized the coinage of the trade dollar, a special silver dollar coin intended to facilitate trade b...

Touchstone Touchstones were stones used to test the purity of precious metals such as gold and silver. Touchstones were also called L...