Historically,when merchants bought goods,instead of paying for them with gold or silver,they simply filled in a piece of paper called a ________ which ordered the goldsmith or silversmith to give a certain amount of the precious metal to the person who sold the goods.

Question

Quizplus · Accepted Answer

The correct term is "bill of exchange." Historically, a bill of exchange was used as a way for merchants to facilitate trade without the need to physically transfer gold or silver. It is a written order used to bind one party to pay a fixed sum of money to another party at a predetermined future date or on demand.

Historically,when Merchants Bought Goods,instead of Paying for Them with Gold