7 Are the Proposed Instances of Money Changing Really Money Changing and Justified?(On Exchanging Money (1499)) (Excerpt)
Journal of Markets & Morality 2007, Spring, 10, 1
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281. It is easy to see from what has been said whether these recently discovered contracts by money changers that are currently under consideration are really instances of money changing and are just. Because a money-changing contract is a question of changing coins, and, in the proposed instances, there is no other exchange except of coins, it follows that the aforesaid contracts of their nature are truly instances of money exchange but of different degrees. 282. The exchange of coins in such money exchanges takes place in four ways. It can be a complete one as takes place in an exchange between Bruges and London where another money is completely given and received. It can be partial, as sometimes happens, in an exchange at Lyons where a gold mark is taken in three types of money namely scudi and in gold and silver coins, and so forth, where the giver also happens to give scudi. He can give as it were nothing, as happens in money exchanges within Italy where there is little or no difference in the coins exchanged because of the proximity of place and the sharing of coins. He gives absolutely nothing as happens in Italy and perhaps outside Italy where money changing is said to happen without any consideration of the quality of coins but only the quantity of money given or received as compared in the other place. For example, a money changer gives Peter who has his money in Rome but needs a thousand ducats in Milan a thousand ducats for one thousand and ten delivered to him in Rome.