Everything of any supposed value belonging to a person, business, or corporation is called " assets;" such as property, real estate, machinery, merchandise, material and stock in process of manufacture, cash and debts receivable, patent rights, trade marks, good will, profits, etc.
A currency which it has been suggested that national banks issue but has not yet been attempted. It has received much attention and certain recommendations from the Committee on Currency and Banking of the House of Representatives. It was proposed to issue bank notes, secured - with certain limitations - by the general assets of the issuing bank, instead of Government Bonds.
During the French Revolution of 1789, monetary difficulties were experienced in France, resulting in an issue of paper currency known as " assignats," the security behind it being church land that had been confiscated, besides which they were additionally secured by all the national domains and other property. The issue became so great, over 45,000,000,000 of francs, that there was a great decline in their value before their withdrawal.1 Conant says that their depreciation was due to " the attempt to base circulating notes upon land and other wealth of unquestioned value, but not of immediate exchangeability."
1 The People's Money, by W. L. Trenholm, and Century Dictionary and Cyclopedia.
One to whom some right or interest is transferred by writing. An " assignee for the benefit of creditors " is one to whom an insolvent merchant voluntarily transfers his property for conversion into cash and distribution among his creditors. An " assignee in insolvency" is a person appointed by a State court under the State insolvency law to take possession of the property of an insolvent debtor, convert it into cash, and distribute it among the creditors.
A written transfer (see " Assign ") in which there is no name inserted of any party to whom transfer is made, but which may be done at any time.
Members of the " Clearing-house Association."
Atchison, Topeka & Santa Fe Railway Company.
Atchison, Topeka & Santa Fe Railway Co.