22 lines
679 B
Markdown
22 lines
679 B
Markdown
<!-- generated: provider=openrouter model=arcee-ai/trinity-large-preview:free date=2026-02-19 source=book-2-chapter-02 -->
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# Bills of Exchange
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## Definition
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Written orders from one merchant to another directing payment of a specified sum at a future date. These instruments facilitate trade by allowing merchants to conduct business without immediate payment in cash.
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## Source Chapter
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Book II, Chapter 2
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## Context
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Smith discusses bills of exchange as a key instrument of commercial credit, explaining how banks discount these bills to provide merchants with ready money. He analyses their role in the circulation of capital and trade.
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## Economic Domain
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Exchange
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---
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