The Wealth of Nations, by Adam Smith, Part 2
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The Origins of Money
The revenues of the ancient Saxon kings are said to have been paid not in money but in kind. William the Conqueror introduced the custom of paying them in money. This money however was for a long time, received at the extroquer by weight and not by tail. Such coins therefore were received by tail as at present without the trouble of weighing. The denominations seem originally to have expressed the weight or quantity of metal contained in them.
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