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Thread: meaning

  1. #1
    daisy1352 is offline Member
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    Smile meaning

    I want the meaning of the following sentences.
    Banks also finance foreign trade and travel by exchanging the money from people's own country with the money from other countries. They also address checks and bills to people who settle in other cities or countries.

    In the present century, banking is no longer an individual profit-making activity as it was in the past.
    Thanks

  2. #2
    Anglika is offline No Longer With Us
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    Default Re: meaning

    Quote Originally Posted by daisy1352 View Post
    I want the meaning of the following sentences.
    Banks also finance foreign trade and travel by exchanging the money from people's own country with the money from other countries. They also address checks and bills to people who settle in other cities or countries.

    Banks act as foreign exchange agents - they convert national currencies for those who are travelling or are doing business with other countries. They will also send credits and debits to those in other places.

    In the present century, banking is no longer an individual profit-making activity as it was in the past.

    Banks in the modern age are not merely private profit-making entities that banks were in the past.

    Thanks
    .

  3. #3
    Kraken's Avatar
    Kraken is offline Member
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    Default Re: meaning

    Hi Anglika.
    I don't quite understand why you relate "individual" to "merely".

    The way I see it (and of course I can be and will be wrong ), individual here applies to " concernig one person exclusively".

    Banks in the modern age are not one-man owned profit-making entities as they were in the past.

    Thank you.

  4. #4
    Anglika is offline No Longer With Us
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    Default Re: meaning

    Actually, looking at the sentence again, it could be rephrased as:

    Banks in the modern age have many more functions than banks in the past.

    [ie - banks in the past took in money from depositors, invested it for profit, and cashed personal cheques; or loaned money at interest. They did not do all the things that banks do today]

  5. #5
    e2e4 is offline Senior Member
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    Default Re: meaning

    Quote Originally Posted by daisy1352 View Post

    Banks also finance foreign trade and travel by exchanging the money from people's own country with the money from other countries. They also address checks and bills to people who settle in other cities or countries.
    I would use word support instead of finance

    Banks also support foreign trade and travel
    by way of exchanging the money from people's own countries with the money from other countries.
    They also address checks and bills to people who settle in other cities or countries.

  6. #6
    Kraken's Avatar
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    Default Re: meaning

    Well, sometimes I'm a bit thick, but I think now I see it...

    So,
    banking is no longer an individual profit-making activity as it was in the past
    could be put this way
    banking is no longer an individual activity (consisting of making profit) as it was in the past.

    and thus

    banking no longer has the sole purpose of making profits it had in the past.


    Is this more correct?

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