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# Exchequer

## Definition

The royal treasury and financial administration where revenues were collected and managed, which in early periods received payments by weight rather than by tale, even after the introduction of coined money.

## Source Chapter

Book I, Chapter 4

## Context

Smith notes that even after William the Conqueror introduced monetary payments, the exchequer continued to receive money by weight rather than by count for a considerable period, illustrating the gradual transition to fully standardized currency systems.

## Economic Domain

Regulation

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