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they would get something like 2 shillings if they sold anything .
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∙ 12y ago
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What is the reason or purpose behind putting money in the bank?
first they were very informal businesses that merchants managed in addition to their regular trade. for example, a merchant who sold cloth, grain or other goods might allow customers to deposit money. he would then charge a small fee to keep the money safe. he would also charge a fee if a customer wanted to take out a loan.
What would happen if Oxygen cost money?
We would have to spend money
Is it true that The shortage of money in the colonies forced the colonists to use a system of barter?
For a variety of reasons, money was almost always in short supply during the early colonial period. The lack of coins and currency forced the colonists to barter. The English leaders felt that colonial exports, such as animal skins, dried fish, and tobacco, should be paid for in English goods. Colonial exports would be accepted in return for an equal value of such goods as fabrics, window panes, pewter dishes, and mirrors. This barter arrangement - an exchange of goods or services without using money - seemed ideal to the British but was increasingly unpopular with the colonists, who preferred coin for their exports to gain more independence over their buying power.
Why did bankers support deflation?
because youre gay ANSWER: Actually the correct answer is that people or bankers loved the idea of deflation because it would make the money that gets repaid worth more.Commercial bankers kind of liked the fact that the money repaid is worth more but deflationary times generated significantly less business. They would much rather prefer stability. So it would increase the money supply.
How would bimetallism benefit farmers?
It would increse the money supply.
How much money would you get of you were a wig maker in colonial times?
$5,000 a day
What was a milliner in Colonial America?
Yes, milliners in the colonial times were basically where you would get your clothing in the colonial times.
What was the cost of colonial beaver hats?
colonial beaver hats were about $250 (todays money) which would have been about $20 then
Why was shipping important to all people in colonial times?
Trade was the Colonial peoples source of revenue. Without the use of ships, then America would never be able to trade with foreign countries, leaving a big gap of the influx of money.
What were people in the colonial times paid?
1,236,473,277,239,678 dollars
How was African American education in Colonial America?
There was no formal education for slaves during the Colonial times. The only education that a black would receive, would be anything that the lady of the house would give, and often times that would be nothing.
Would they have scissors in the colonial times?
Yes, there were. Tailors and barbers used scissors during the colonial time period.
What would men do for work in colonial times?
they would fish hunt and provide for their families
What did people were in the colonial times?
they would wear rags and animal skin
Did Rhode Island use money during the colonial times?
Yes, they had money in colonial Rhode Island but the colonist mainly trading to get thing they needed,for example if someone needed an axe and would give a hammer for it while someone needed a hammer and was willing to give an axe they would make a trade so they both had what they needed despite the price for the two items.
Who had controling authority in families in the colonial times?
The father was the head of the family. If he was dead or not around it would have been the closest male relative. Women had no rights to property, education, money, or inheritance.
Did they have refrigerators in colonial times?
No they did not because if they did then they would need electricity which they did not have. Therefore they did not have refrigerators.
