10 Apr 1300 Jahr - Exchanging of bills was a normal commercial payment

Beschreibung:

Merchant had developed paper bills through which they could in a much safer fashion exchange goods and services. Example (since the book doesn't fullt specify) if Susan writes Bob a check for payment of a product, Bob presents the check to his bank, and receives cash from the bank. Bob’s bank then gets the money from Susan’s bank. Bills of exchange work the same way.

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