Word: hoard
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Dates: during 1900-1909
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...Middle Ages there was no great system of property owning, whereby a man could borrow money on security, but rather a universal pawn-system, in which money was obtained by pawning farm products, etc. It was an essential for each small householder to keep a hoard of money to meet expenses, whereas, today, wealth may be obtained solely on credit. It is an interesting fact that we have but three times as much money in circulation, nowadays, as at the time of Louis XVI, while we are seven or eight times as rich...