The smallest English coin, being one-fourth of their penny, and equivalent to about one-half a cent in United States money.


(or Fdg.). Funding.


Federal Mining & Smelting Co. (Silver and lead.)


To "own in fee " is to have absolute possession of. Feeder. A branch, tributary, or smaller connecting transportation company, which originates or collects, freight, passengers, etc., and " feeds " its business into a larger company. Branch lines of a railroad are called its " feeders."

Fee Simple

A landed estate belonging to the owner and his heirs and assigns forever.

Federal Reserve Act

See end of book.

Federal Reserve Banks

See " Addenda."


When prices are very changeable, up and down; conditions unsettled; worriment discernible on the faces of those transacting the business; a general uncertainty as to what will happen next.

Fiat Money

Money which a government declares shall be accepted as legal tender at its face value; money issued by a government which is supposed to have the power to enforce its acceptance, within its own dominions, in payment of debts. As generally understood "fiat money " has no real value, or at least lesser value than its face. In the latter case, the difference between the real and face value is " fiat money."


"Fiduciary institutions:." trust companies, banks, etc. "Fiduciary capacity" has relation to some financial trust.


To "finance" an enterprise is to raise the necessary money for its needs.

Finance Bills

"Bills of exchange" (which must first be understood) on foreign countries issued by American bankers against credits or loans granted them by bankers in other countries, and not against shipments of goods. The terms on which the credits are granted, and whether or not it is necessary to pledge bonds, stocks, or other collateral, as security, is a matter for arrangement between the different parties.

Finance Committee

See " Savings Bank."

Finance Company

In the United States, the "holding company" (to which refer) is commonly known as a " finance company," but the meaning in England is totally different. There the term has reference to companies dealing in corporation securities.

Financial Bill

On the 14th of March, 1900, there was approved an Act of Congress to define and fix the standard of value, to maintain the parity of all forms of money issued or coined by the United States, to refund the public debt, and for other purposes, which is commonly known as the " Financial Bill." It is also referred to as the "Gold Standard Act " and "Currency Act." The essence of this bill, in addition to what the reader will find under " Gold Reserve," was to define and fix the standard of value as follows:

"That the dollar consisting of twenty-five and eighttenths grains of gold nine-tenths fine, as established by section thirty-five hundred and eleven of the Revised Statutes of the United States, shall be the standard unit of value, and all forms of money issued or coined by the United States shall be maintained at a parity of value with this standard, and it shall be the duty of the Secretary of the Treasury to maintain such parity."