There seem to be several different uses for this word. As understood by the United States Mint, it means coin of any denomination and of any metal in contradistinction to notes and bills. In the term "specie payment," the word is held to apply also to gold and silver bullion.

When reference to "specie" is made in relation to the lawful money reserve of a national bank, it includes the following: gold and silver coin, gold and silver certificates, and gold clearing-house certificates.

The dictionary meaning of "specie," as generally accepted, is metallic money.

Specie Payment

By this is usually understood payment in gold or silver, but by reading the subject "Specie" it will be seen that "specie payment" may be considered to mean any metallic money.

Specie Point

Another term for "Gold Point," to which subject refer.


Discounting future events. This differs from "investment," because it has as the direct object buying in expectation of a rise in value, or of selling expecting to buy again at a lower price in time to make delivery, having less regard for the income-producing capacity; whereas " investment" considers the interest return and safety of principal as the first object. One who engages in "speculationn is called a "speculator."

One writer distinguishes "speculation" from "gambling" by stating that the former is a venture based upon calculation, and the latter a venture without calculation, which distinction the law recognizes, sustaining the one and condemning the other.


See " Speculation."


This is the commercial name for the metal zinc, as turned out from the smelters. It is customarily cast in slabs 9 x 18 inches and from 1 1/4 to 1 1/2 inches thick, weighing from 45 to 65 pounds.

The term has a parallel significance to "pig iron."


The execution of an order to sell by selling in two or more lots at different prices.

Split a Commission. Divide it with another.

Split Quotation

In ordinary quotations, the prices vary by J; as, for instance, 9 1/8, 9 1/4, 9 3/8, etc. A "split quotation " divides the 1/8 and gives the quotations by 1-16; as, for instance, 9 1/8, 9 3-16, 9 1/4, 9 5-16, etc.


Money. He who has the necessary "spondu-lacs" has the needed money. Formerly paper money was meant by this term, but now funds of any kind.


By "spot cotton" or "spot wheat," or whatever commodity is preceded by this adjective, it is understood that such commodity is ready for immediate delivery as distinguished from "futures." (See "Grain.") A "spot sale " is a sale for cash for immediate delivery.