847 B
847 B
Tale Versus Weight Measurement
Definition
The distinction between counting coins by number (tale) versus weighing them, with the latter being more accurate but less convenient. The transition from weight to tale measurement can have significant economic implications for currency stability and seignorage effectiveness.
Source Chapter
Book IV, Chapter 6
Context
Smith discusses how the custom of weighing gold coins affects their use and the effectiveness of monetary policy. He suggests that the inconvenience of weighing may lead to a transition to tale measurement, which would have important implications for currency stability and the effectiveness of seignorage.
Economic Domain
Regulation