Commodity market in Sumer between 4500 BC and 4000 BC. Sumerians first used clay tokens sealed in a clay vessel, then clay writing tablets to represent the amount—for example, the number of goats, to be delivered. These promises of time and date of delivery resemble futures contract. Early civilizations variously used pigs, rare seashells, or other items as commodity money. Since that time traders have sought ways to simplify and standardize trade contracts. Gold and silver markets evolved in classical civilizations. At first the precious metals were valued for their beauty and intrinsic worth and were associated with royalty. In time, they
Archconfraternity of the Most Precious Blood transferred to the church of the London Oratory (12 August 1850). Previously to this it had been introduced into America by the Passionists, and canonically erected in the numerous houses and parishes founded by them after their arrival (1844). Archconfraternity of the Most Precious Blood Archconfraternity of the Most Precious Blood refers to a Roman Catholic archconfraternity, associated with confraternities which make it their special object to venerate the Blood of Christ. They first arose in Spain. In the life of the Carmelite lay brother Francis of the Infant Jesus (d. 1601), mention is made of such a confraternity as