1. Относительная стоимость

2. Подсчитывать прибыли и убытки

3. Налоговые поступления

4. Задача бухгалтерского учета

5. Накапливать состояние

6. Не поддаваться износу

7. Чеканить монеты

8. Стабильность ценности

9. Долговечность

_{Chapter NINE}

10. приемлемость

11. заключать сделки

12. подлежащий оплате немедленно по предъявлении

13. деньги безналичных расчетов

14. бумажные деньги, полностью обеспеченные золо­том или серебром

15. деньги, считающиеся деньгами по указу

1. Сочетание монет различного достоинства дает воз­можность покупателям и продавцам совершать сделки любого размера.

2. Если оба этих условия выполняются, то многие лю­ди будут накапливать свое богатство для будущего использования.

3. Металлы, такие как золото и серебро, идеальны, по­тому что они хорошо противостоят износу.

4. Делимость также стимулирует использование денег как меры стоимости, потому что могут быть сдела­ны точные ценовые сравнения между товарами.

5. Чеки являются представительными деньгами, потому что они символизируют сумму денег на счете человека.

6. Приемлемость означает, что люди готовы прини­мать деньги в обмен на свои товары или услуги.

1. ^{medium of exchange}

2. relative value

3. standard of value

4. store of value

5. accumulate their wealth

6. durability

7. portability

8. stability in value

9. commodity money 10. representative money

1. medium of exchange

2. _{standard of value}

3. store of value

4. record keeping

5. cost of expenditures

6. unit of accounting

7. purchasing power

8. portability

9. divisibility

10. perishable

11. demand deposits

12. savings accounts

13. time deposits

14. bill of exchange

*

3. commodity money

5 1. In fact, many coins minted in ancient times are still in

existence*

2. Comparing the prices of products people can judge the relative worth of different items.

3. Businesses need to figure profits and losses.

4. Money is nonperishable so it can be saved or stored for later use.

5. In other words, the purchasing power of the money must be relatively constant.

6. Checks are considered money because they are a medium of exchange, a standard of value, and a store of value.

6. lc, 2k, 3b, 4h, 5e, 6i, 7a, 8g, 9j, 10m, lln, 12d, 131, 14f

7. ^{Talk No 1 (350 words)}

A university professor is speaking on the first period in the history of American money and banking system.

Good morning. The subject of my lecture, as it has been announced, will be devoted to the history of American money and banking systems. I will start by saying that the history of American money and banking is interwoven with the history of the United States.

First of all Fd like to point out that the American monetary and banking systems have gone through three periods of devel­opment. During each of these periods, stability and progress in the nation's money and banking systems has increased.

Today I am going to speak about the first period, which lasted from the 1780s to 1860. It was a time of experimenta­tion and debate in American banking. During this period, money and banking were part of a large battle between Federalists and advocates of states' rights.

Federalists, such as Alexander Hamilton, believed that a strong, centralized banking system was necessary if the United States expected to develop its industries and commerce. As Secretary of the Treasury, Hamilton proposed that a national bank have the power to handle the government's funds, charter and monitor other banks throughout the country, and issue currency.

Advocates of states' rights, such as Thomas Jefferson, opposed the national bank because they feared that the con­centration of economic power at the national level would weaken the economic and political power of individual states. Jefferson supported a decentralized banking system in which the states, rather than the federal government, would charter and regulate the banks within their borders.

In this battle Hamilton's views prevailed. In 1791 Congress established the First Bank of the United States as a private business. Its Charter, or legal permission to operate, outlined the bank's responsibilities, which included the issu­ing of representative money in the form of banknotes. These banknotes were backed by gold and silver specie.

A year later, Congress established a national coinage system, and the federal government began to mint gold and silver coins. It also established the dollar as the official unit of currency.

T he First Bank of the United States brought some order to monetary and banking systems in the United States.

2

62

4. gold

5. containing

6. sell

7. value

8. buy

9. investment (10) rise

9 lh, 2d, 3j, 4g, 5a, 6i, 7k, 8e, 9c, 101, llf, 12b

^{Ю Talk No 2 (368 words)}

A university professor is speaking on the second period in the history of American money and banking system. I

Good morning. At our previous lecture, we discussed the first

period in the history of American money and banking systems. As I

you know the American monetary and banking systems have gone I

through three periods of development. Today we are going to I

speak about the second period which lasted from 1860 to 1913. I

The situation in the country and problems connected with I

the Civil War convinced national leaders that the United I

States needed a better banking system. Congress took steps to I ]

establish a new national banking system. I

By the ena of the Civil War in 1865, $450 million i a curren- I

cy was in circulation but this fiat money was backed only by the I 1

federal government's promise to repay at some future date. I

After the Civil War, Congress took actions to support the I |

national currency as a stable medium of exchange. First, I

Congress tied the paper money to gold with the passage of the I

Coinage Act of 1873. The Gold Standard Act of 1900 committed I

the government to the gold standard - a monetary system in I

which paper money is fully backed by and convertible into gold. I

The next step Congress took was to create a dual banking I

system composed of national banks and state banks. The sys- I

tern brought more uniformity and stability to money and bank- I ing. The National Banking Acts of 1863 and 1864 required

banks to hold gold and silver reserves. National banks were I

chartered by the federal government. As for the state banks they were chartered and regulated by individual states.

A further decision by the federal government was to issue a national currency only through the national banks. A national currency provided a nationally acceptable medium of exchange and stabilized the entire economic system.

So, to sum up we can say that a national system of banking introduced in the second period increased public confidence in paper currency and in the banking system as a whole. But of course, the system had some disadvantages. First, it did not provide for an efficient way to regulate the amount of money circulating in the economy. Second, the system lacked any central organization.

At our next lecture we shall find out how these problems were solved and speak about failures and successes of the third period.

|| 1. about, 2. from, 3. to, 4. of, 5. in, 6. through, 7. of, 8. by, 9. by, 10. by, 11. in, 12. and, 13. with, 14. during, 15. in, 16. of, 17. of, 18. of, 19. during, 20. from, 21. Bet­ween, 22. and, 23. in, 24. to, 25. in, 26. in, 27. in, 28. to, 29. in, 30. of

IJ 1. False, 2. True, 3. False, 4. True, 5. False, 6. True, 7. True, 8. False, 9. False, 10. True

|4 If, 2j, 3c, 4e, 5a, 6i, 7g, 8h, 9b, lOd

|5 1- Money, it turned out, was just the same as sex. You thought of nothing else if you didn't have it and thought of other things ii you did.

2. Money is a terrible master however it is an excellent servant.

3. Before you start up a new business you should write a business plan.

4. If the company does well the profits will be very high.

5. Money is like promises - easier made than kept.

6. Personal selling will be very effective provided the promotional efforts are well planned.

7. You had better persuade banks, not me, that your business is worthy of a loan.

8. Money can't buy happiness but it will get you a better class of memories.

9. Getting money is the same as digging with a needle.

10. As long as the price is reasonable the travelers will be using this airline.

11. Spending money is like water soaking into sand.

12. Doing business is the same as making war.

13. My great wealth was acquired with no difficulty, yet my small wealth, my first gains, with much labor.

14. If I were you I would make financial analysis of monthly profit and loss forecast.

15. The advertisers try to persuade the customers. In a sim­ilar way the politicians try to persuade their electors.

1. разработчик структуры системы программного обеспечения

2. индустрия программных средств

3. бешеная сенсация в средствах массовой информации

4. IBM-совместимый персональный компьютер

5. не жалеть затрат, не экономить

6. венчурный (рисковый) капитал

7. промышленность средств вычислительной техники

8. компетенция/опыт в области программирования

9. общественные организации

10. развитие профессиональных навыков

1. Решающими в успехе "Майкрософт" были дально­видность Гейтса и его предвидение в области персо­нальных компьютеров.

2. Беспрецедентный бум в области маркетинга и в сред­ствах массовой информации был вызван компью­терной программой Windows 95.