Money is usually defined as something that is a medium of exchange, a measure of value, and a store of value.
For example, I sell you something in return for “money” which I can then immediately buy something from someone else. Or, we can use “money” to set a value for something you have. Or, I can sell something now, store the value in “money” and then buy something of equal value later.
In Iceland during the Viking Age there was not enough silver to use it as “money.” So, other things, especially homewoven cloth was used as substitute.
In Viking Age Iceland, Jesse Byock gives a good explanation of how cloth was used as a measure of value and medium of exchange.
When will we be done with this stay-at-home restriction?
When will the economy recover?
When will we be back to “normal?”
I don’t know the dates for any of those transitions.
I have a suggestion for you.
Don’t set a specific date in your mind. Instead firmly set in your mind that this mess will end, we will get through it, we will survive, and we will thrive at the end.
What is the danger of setting a date in your mind and having faith it will be over on that date?
Let me introduce you to the Stockdale paradox.
Admiral James Stockdale was an American pilot shot down during the Vietnam war. He was a prisoner in North Vietnam for 7 1/2 years, routinely subject to brutal torture, legs broken twice during interrogation, and held in solitary confinement during four of those years with his legs locked in a metal stock each night. He was awarded the Congressional Medal of Honor a few years after his release.
I think we should listen to him. His physical courage and moral courage are a role model for all of us.
Watched the uplifting and depressing movie Harriet last night. Second time I’ve seen it. Fabulous tale about the efforts of Harriet Tubman in liberating herself from slavery, then liberating most of her family, eventually freeing about 70 people from slavery.
First silver coins flowing into Scandinavia were Arabic dirhems. Later pennies from England and the continent were a bigger portion of the coins. Even later, various kings in Scandinavia minted their own coins.
A large horde dated to 1010 A.D. or earlier contains three coins with an inscription of “ONLAF REX NOR”, which the article translates as “Olav King of the Norwegians.” Article points out it is unknown whether this is Olav Tryggvason or Olav Haraldsson.
Been thinking more on what life was like on the farm after my grandfather passed away.
Consider the cash expenses again – notice there are no bills for electricity, telephone, water, or sewer. Such things weren’t in place.
I’ll guess seed and other critical farm supplies were purchased on credit from Yankton Production Credit. The payment of $2,104 on 9/1/45 would have cleared the loan balance for the year, and perhaps any carryover balance from prior years.
Speculation on non-cash transactions
A few thoughts come to mind on non-cash transactions outside the probate document.
Let’s try bringing together the previous guesses (can’t even call them estimates) of the value of those portions of King Solomon’s wealth that are mentioned in scriptures which we can make a feeble attempt to quantify.
An estimate of the value of chariots, horses, 200 large gold shields, 300 small gold shields, and place settings made of gold: