Abstract
Abstract In the introductory chapter of this book we encountered the distinction be tween the metal value of a coin and its stamped or inscribed value. It was this distinction that enabled us to establish the idea of money as a kind of bond, a promissory note, albeit one that binds not two particular individuals with each other, but one unspecified individual-the “bearer”-with the whole community sharing a given currency. The distinction between the value of a coin as a financial instrument and its value as specie bears a close relationship to the distinctions we have investigated in the last two chapters, between the earned and the given, the willed and the accidental, the predictable and the risky, merit and luck, justice and mercy.
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