Mississippi Scheme (Or Company)

See " Law, John."

Money Circulation

See "Circulation Per Capita in the United States."

Money Market

By this is understood not only the interest and "discount" rates quoted by those having money to lend, such as the banks, trust companies, etc., but those actually engaged in the business of lending it.

Money Of Account

A denomination of money used to reckon in, but not actually coined. The gold dollar of Newfoundland may be considered as such, as it is not coined; the $2 gold piece and silver and copper coin of lesser denominations than the dollar are the current pieces.

Money-Orders

See "Postal Money-orders.,,

Money Pools

See footnote to the subject "Pool."

Money Rates

This is a heading or term often met with in financial articles, and indicates the interest or "discount" rates quoted by those having money to lend. The price charged for money loaned.

Money to Move the Crops. See " Movement of the Crops."

Monometallism

Coinage which calls for the use of one metal only as a standard of value; a system of coinage by which only gold, or some other kind of metallic coins, are recognized as "legal tender." For example, about the year 1851 when the gold mines of California and Australia produced gold in large quantities, Belgium demonetized gold and became silver "monometallic." (See "Bimetallism.")

Monon

Chicago, Indianapolis & Louisville Ry. Co. (Controlled jointly by the Louisville & Nashville and Southern Ry. Companies.)

Monopoly

There are many different views as to the true meaning of this word. One prominent writer defines it as "a grant by the government for the sole buying, working, making or using of anything." Another - and probably much nearer the truth - "where within a certain territory all sales of a certain article, or the doing of a certain act, is in the control of a single person, or combination."

Prof. Ripley says: "If the tendency towards combination means anything, it means the substitution of centralized and consolidated management for the rivalry of independent concerns; and this may fairly be termed monopoly."

Some "franchises" are more monopolistic in character than others. A street railway or dock franchise more so than the franchise of a water, gas, or electric lighting company.

Mop

Missouri Pacific Railway Company.

Mo

Pac. (or Mopac). Missouri Pacific Railway Co.

Moratorium

The law regards this as a legalized delay of a payment due. During the Russo-turkish War, Russia established a "moratorium" by which the payment of private debts was suspended for a fixed period. A legislative act may legalize suspension of payment on the part of a Government bank.

After the outbreak of the World war, the "moratorium" was very generally put into force in England, France, and other countries. The payment of legal debts, of practically every nature, was suspended for a considerable period; the governments used every effort to relieve the burden of the debtor in this way, and never before was there such urgent need for the intervention.