Someone pays in a certain amount of money in one place, such as Florence. This sum is collected again in another, distant place, say Lisbon. Present money is thus exchanged with absent money. A real exchange takes place, and that is why the name bill of exchange was retained for such transactions. – See Cavata.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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