金融英语翻译.docx

1、金融英语翻译Part 1 Money and CreditSection 1 Money and Money SupplyI. The Functions of Money1. Medium of Exchange or Means of Exchange 货币作为交换媒介，有效地消除了要求需求的双重巧合和克服困难的易货贸易。钱也促进生产效率允许人们从事他们所做的最好。在一个经济的钱是必要的：它是一种润滑剂，使经济运行更平稳通过降低交易成本，从而鼓励专业化与分工。在历史上，金钱第一促进交换，使人们从事什么适合他们大多数又出现了在各个行业的分工，这带来了一个伟大的生产增长。在第十九个世纪以来，西

2、方国家通过专业化和分工的方法在生产劳动进行了大规模的。因此，有越来越丰富商品的人可以选择和价格大幅下降。金钱的影响经济是巨大的。2。帐户或标准值的单位In a barter economy, money does not perform this function as unit of account. In a barter economy, double coincidence of wants is not only hard to find, but also difficult for two traders to agree upon an exchange ratio. For

3、example, how many pounds of apples should be exchanged for a bag of wheat? When only two goods are traded, only one exchange ratio must be determined, but as the number of goods produced in the economy increases, the number of exchange ratios grows greatly. Negotiating the exchange ratios for goods

4、exchanges is complicated in a barter economy because there is no common measure of value. People have to determine and keep in mind numerous exchange ratios of goods. Using money as a unit of account reduces transaction costs in an economy by reducing the number of prices that need to be considered.

5、 The benefits of this function of money grow as the economy becomes more complex.在易货经济，钱不执行该函数作为记账单位。在易货经济，需求的双重巧合不仅是很难找到，但双方同意交换比率也难。例如，多少磅苹果应该换一袋小麦？当只有两种商品的交易，只有一个交换率必须被确定，但在经济生产的商品数量增加，交换率的数量急剧上升。谈判的商品交流的交换比率是复杂的以物易物因为没有共同的价值尺度。人们已经确定并记住大量货物的交换比率。使用货币作为记账单位通过减少需要考虑价格数量降低了经济中的交易成本。金钱的这个功能的好处作为经济增长

6、变得更复杂。3。商店的价值A store of value is used to save purchasing power from the time when income is一个商店的值是用来保存购买力从时间收入时received until the time when it is spent. That means money is used to defer the time收到直到花。这意味着钱是用来延迟时间of exchange of goods and services. This function of money is useful because most of商品和服

7、务的交换。钱这个功能是有用的因为大多数us do not want to spend our income immediately upon receiving it but to wait until我们不希望把我们的收入立即收到它而等待we have the time or the desire to shop.我们有时间或意愿店。The effectiveness of money as a store of value depends on two factors: one is金钱，作为价值存储的有效性取决于两个因素：一是the easiness that people can ge

8、t goods with money when in need of them; the other易，人们可以得到货物的钱时，需要他们；另is the price level because the value of money is fixed in terms of the price level. A是价格水平，因为货币的价值是固定的价格水平。一个doubling of all prices implies that the value of money has dropped by half;所有的价格翻了一番意味着金钱的价值已经下跌了一半；conversely, a halving

9、 of all prices implies that the value of money has doubled. In相反，减半的价格意味着金钱的价值已经翻了一番。在inflation, when the price level is increasing rapidly, money does not serve the store-通货膨胀，当价格水平迅速增加，钱不服务商店of-value function well because money loses value rapidly, the purchasing power of因为钱的价值功能价值损失迅速，购买力money de

10、clines and people will not be willing to hold their wealth in this form. So钱下降，人们就不愿意在这种形式持有的财富。所以money can function as store of value only when its value is stable as an asset.钱可以充当价值储存只有当其价值稳定的资产。II. The Meaning and Types of Money1. The Meaning of Money马克思将货币作为一种特殊的商品，永久作为general equivalent. There

11、 are prerequisites for Marx s definition of money in three一般等价物。在三中有对马克思的货币定义的先决条件aspects: first, money is a commodity with value and value in use. Only in this case方面：第一，钱是一种具有使用价值和价值的商品。只有在这种情况下can money play various functions; second, money has the ability to display value of钱可以发挥不同的功能；第二，钱已经显示值的

12、能力goods with its own value in use, i. e. money can serve as a general equivalent;在使用自己的价值的商品，例如：钱可以作为一般等价物；third, money itself is a commodity with value and value in use representing general第三，货币本身是一个具有使用价值和价值的商品占总purchasing power, so money becomes generally accepted. Obviously, Marxs theory is base

13、d on the system of metallic money. When discussing paper money circulation,购买力，因此货币成为普遍接受的。显然，马克思的理论是基于金属货币制度。当讨论货币流通，Marx explains that paper money is the representative of metallic money and is a马克思解释说，纸币是金属货币的代表是symbol of value and functions as money indirectly. But in modern society, money in符号的

14、价值和功能作为货币间接。但在现代社会中，金钱circulation in most countries has no relation with precious metal, such as gold and在大多数国家，循环与贵金属如金，没有关系，silver, so Marxs theory cannot explain this phenomenon wholly.银，所以马克思的理论无法解释这一现象完全。Western economists define money (or, equivalently, the money supply) as anything that is ge

15、nerally accepted in payment for goods or services or in the repayment of debts. Currency, which is bank notes and coins, clearly fits this definition and is one type of money. When most people talk about“money”today, they are talking about currency.西方货币（或者，等价地，货币供应量）为任何一般是在偿还债务支付商品和服务或接受。货币，这是银行的纸币和

16、硬币，显然符合这种定义是一种货币。当大多数人谈论“钱”的今天，他们正在讨论货币。Therefore, to define money merely as currency is much too narrow today because besides currency, payments can also be made by the transfer of deposit balance via checks or electronic transfer system. So accepted generally in payment for purchases of goods and

17、services or in the repayment of debts, checking account deposits are important parts of money as well. Therefore an even broader definition of money is often needed because other items such as savings deposits can in effect function as money if they can be quickly and easily converted into currency.

18、 This is also true with time deposits. They are all items that are“generally acceptable” in making payment.因此，定义的钱仅仅是货币是因为除了货币太窄的今天，付款，也可以通过存款余额通过支票或电子传递系统传递了。所以公认为偿还债务或购买的商品和服务的支付，支票存款账户的重要组成部分的钱一样。因此，一个更广泛的定义，是因为钱常常需要其他项目如储蓄存款可以影响货币功能，如果他们可以迅速和容易地转换成货币。这也是真实与定期存款。他们是“付款普遍接受的所有项目”。2. Types of Money

19、2。类型的钱Since the primitive economy, money changed from commodity money to从原始经济，钱从商品的钱metallic money, from metallic money to representative money, from representative金属货币，从金属货币的代表性的钱，从代表money to credit money and finally electronic money. In economic life, the need for货币信用货币和最后的电子货币。在经济生活中，需要money is s

20、o strong that almost every society, except the most primitive one, invents钱是如此强烈，几乎每个社会，除了最原始的一种，发明it.它。(1) Commodity money or money in kind（1）实物商品货币或货币A commodity that becomes a medium of exchange is called a commodity money一种商品，成为交换媒介称为商品货币or money in kind, when its value in the non-money use is e

21、qual to its value as或金钱，当在非货币的价值等于它的价值money. The commodity money is the oldest form of money, mainly used in a barter钱。商品货币是最古老的形式的货币，主要用于易货economy. Take diamond for example, it can be used both as money in exchange for经济。以钻石为例，它可以用来作为交换货币goods and services or discharge of debts and as a general com

22、modity in商品和服务，或债务的清偿和一般商品consumption, and the value of diamond as money is equal to the value of it as消费，和钻石的价值为钱等于它的价值general commodity. Consequently diamond becomes commodity money. In history a一般商品。因此钻石成为商品的钱。历史中的一个lot of commodities were used as medium of exchange, such as stones, whale teeth,很

23、多商品作为交换的媒介，如石头，鲸鱼的牙齿，sandal wood, tortoise shells, rice, salt, copper, silk, leather, diamonds, etc.檀香木，龟壳，大米，盐，铜，丝绸，皮革，钻石，等。With development of exchange of goods, such kinds of commodity money showed随着商品交换的发展，这样的商品货币种类显示their shortcomings, say, some of them were very large in size and indivisible s

24、o that他们的缺点，说，他们中的一些人在大小和不可分割的，非常大的they could not be carried around which impeded their serving as ideal medium of他们不能携带，阻碍了他们为理想介质exchange; others were not stable in value which hindered them from functioning as交换；在价值，阻碍了他们作为人是不稳定的standard of value and store of value. In practice, over the past 4,0

25、00 years, the的价值储存标准。在实践中，在过去的4000年中，该predominant commodity moneys have been precious metals: mostly silver and gold,主要商品货币已贵金属：主要是金和银，also called full-bodied money. Full-bodied money was one of stages of commodity也被称为浓郁的钱。酒体丰满，钱是一个阶段的商品money. At the stage of commodity money or money in kind there w

26、ere a lot of钱。在商品货币或货币阶段类有很多commodities functioning as money which were often changing and not fixed; at the作为货币是经常变化的，没有固定的商品；在stage of full-bodied money the special commodity as money centered on only one浓郁的货币的特殊商品作为货币中心只有一个阶段kind of commodity, which was precious metals like gold or silver. Gold a

27、nd silver一种商品，这是金或银是贵重金属。金和银are in great demand for ornamentation because they are durable, beautiful, and can在装饰的需求很大，因为它们是持久的，美丽的，可be shaped. The supply of these metals is so limited so that very small amounts have塑造。这些金属的供应是有限的，非常小的数量great value. This makes them easy to carry around as money. Fur

28、thermore, they can伟大的价值。这使得他们容易随身携带的钱。此外，他们可以be refined into the pure metal rather easily, making their quality uniform. Various被提炼成纯金属更容易，使他们的质量一致。各种quantities can also be weighed out so that exchanges of varying values can be made.量也可以称出这样的交流不同的值可以用。Almost all countries have passed the stage of pr

29、ecious metallic money which used to几乎所有的国家都通过了贵金属的钱用于舞台be a perfect form of money.是一个完美的形式的货币。(2)Representative money（2）代表货币Representative money or representative full-bodied money refers to paper money代表货币或代表浓郁的钱是指纸币fully backed by a precious metal.由贵金属的全力支持。Representative money first emerged in Br

30、itain. During the latter part of Middle代表货币首先出现在英国。在后一部分中Ages the earliest forerunners of private banksGoldsmiths themselves had massive年龄最早的先驱金匠自己庞大的私人银行vaults and secure facilities for the safeguard of their precious metals. Thus他们对贵金属的拱顶和安全设施的维护。因此，individuals owning gold or other precious metals

31、 without secure facilities for their个人拥有的黄金或其他贵金属无安全设施的safeguar维护3。现代货币的延伸In an economy exist various kinds of money, not only currency. Money supply在经济中存在着各种各样的钱，不仅货币。货币供应refers to the collection of all kinds of money in an economy. Money issued in the指一个经济的各种货币收藏。发出的钱form of currency is only one p

32、art of money supply. So each country employs fairly形式的货币，是货币供应的一部分。因此各个国家采用的比较standard measures of money that include the volume of currency in circulation and标准措施的货币包括流通中的货币量和the volume of deposits at any point of time. Typically, several measures of money在任何时间点的存款量。通常，钱的几项措施are reported, differentiated by the