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Miscellany

Miscellany Trade

In an 1846 math textbook from the Free Grammar School of King Edward VI, one exercise considers an exchange of 450 bags of potatoes for cash, 15 chests of oranges, and 185 bushels of carrots; the remainder is nuts. The question is posed: “How many bags of nuts did I receive?”

Miscellany Trade

“Why do you wrong the gods so much?” Greek poet Athenaeus asks a sober party guest in a late second-century work. “You’re no use to the city if you drink water, / because you’re hurting the farmer and the trader; / whereas I increase their income by getting drunk.”

Miscellany Trade

Herodotus reports that after Cyrus the Great was warned by a Spartan herald not to tread further into Greek lands, the Persian king received a primer on Sparta, including an explanation of an agora, to inform his response. “I have never yet been afraid of any men,” he told the herald, “who have a set place in the middle of their city where they come together to cheat each other.”

Miscellany Trade

In the eighteenth century, a cash-strapped French government began selling rente viagère, in which an investor paid an up-front sum pegged to someone’s life—sometimes the king or the pope—and received returns until death. A group of Genevan bankers diversified their portfolio in the 1770s by buying rente contracts on the lives of thirty wealthy young Genevan girls. The fund gained popularity; by 1789 a significant portion of French debt was owed on the lives of just these “thirty heads.”

Miscellany Trade

A thirteenth-century Song dynasty text about commerce describes dangers faced by pearl divers, who sometimes fell prey to “huge fishes, dragons, and other sea monsters” that would rip open their stomachs or bite off their feet. A pearl was considered most valuable if perfectly round; the test was “that it will not cease rolling about all day when put on a plate.” To avoid heavy export duties, foreign traders sometimes concealed pearls in canes or umbrella handles.

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