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Money Of Countries: GRESHAM'S LAW, gresh'amz, in economics, is usually stated as "bad money drives out good." The law stems from the fact that money has a value both as money and as a commodity in the open market. The former value is set arbitrarily by law and is relatively fixed; the latter is determined by supply and demand and varies from time to time, "Good money" has a higher value as a commodity than as money and will disappear from circulation.Typically, you may spend from three to eight percent of your gross on advertising. Keep in mind that the commitment to spend the money over the entire year is much more important than the amount of money you allocate toward advertising. Nothing will waste money faster than to spend a large amount of money in the beginning of the campaign, and when results are not immediately forthcoming, to pull back and stop advertising. Spend your money according to your plan. Make some adjustments during the year to fine tune your efforts, but keep at it for the rest of the year. You will be surprised how this commitment to results will pay off despite some temporary misgivings.
A good international exchange tip is this: Buy in Switzerland any needed and legally importable stocks of the money of countries to be visited, for example French francs, Spanish pesetas, British pounds or any European currency where there is a spread between the government rate and the free market rate. By so doing you may save from 2 or 3 per cent up to 15 or 20 per cent. Swiss money, long established at about 23.4 cents per franc (4.28 francs = $1), is in nickel coins of 5, 10 and 20 centimes (100 centimes = 1 franc), in silver coins up to the 5-franc cartwheels, and in notes of denominations from 5 to 1000 francs. |
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