David Graeber

“Tally sticks were quite explicitly IOUs: both parties to a transaction would take a hazelwood twig, notch it to indicate the amount owed, and then split it in half. The creditor would keep one half, called "the stock" (hence the origin of the term "stock holder") and the debtor kept the other, called "the stub" (hence the origin of the term "ticket stub.)”


David Graeber, Debt: The First 5,000 Years
tags: debt, iou
Read more quotes from David Graeber


Share this quote:
Share on Twitter

Friends Who Liked This Quote


To see what your friends thought of this quote, please sign up!

2 likes
All Members Who Liked This Quote



This Quote Is From

Debt: The First 5,000 Years Debt: The First 5,000 Years by David Graeber
13,712 ratings, average rating, 1,789 reviews

Browse By Tag