Paper money; a term used to distinguish it from metallic money.
The monetary unit of Peru, equal to $.487 United States money.
Having financial resources sufficient to pay all debts as they severally become due.
Minneapolis, St. Paul & Sault Ste. Marie Ry. Co.
A small French coin, equal to about $.0096 1/2 United States money.
The Earl of Oxford, at the time (1710) Prime Minister of England, proposed a plan by which the holders of the Government debt should be allowed to exchange the same for shares in the South Sea Company, a corporation which was granted certain trading monopolies along the Atlantic coast of South America. This was attempted as a method of consolidating the Government's indebtedness and to effect a saving in interest. It being upon the eve of a great speculative era in England, many exchanges were made, and the price of the shares of the South Sea Company advanced tremendously. The whole plan proved worthless and collapse followed in 1720, to the great loss of all the shareholders.
This era of unreasonable speculation above referred to is partially explained by Bagehot by the statement that there were no banks at that time for the deposit of the funds of the people, and the speculation was the natural outlet for their money.1
Bonds for which a special district, or section, of a city is taxed to meet interest and principal; the city as a whole not being held for their payment, the idea being that the section improved by the expenditure of the proceeds of the bond sale should be responsible for the payment of the bonds. (Read "Street Improvement Bonds," all of which applies here.) It is better for the novice in investment matters to fight shy of these bonds altogether.
A "special deposit" differs from a "general deposit" or a deposit of the ordinary nature, by being placed in a banking institution for retention and safe keeping only, but not to be used by the bank as are its general funds, which treatment an ordinary or general deposit would receive.