Gold was first discovered in California in 1848.

Exchanges originated in the commercial cities of Italy.

Money simply means "a common medium of exchange."

The first currency used in this country was the Indian wampum.

National banks were first established in the United States in 1816.

International Monetary Conferences were instituted at Paris in 1878.

The highest denomination of United States legal tender notes is $10,000.

Bills of exchange were first used by the Jews in 1160, and in England in 1307.

The term "Almighty Dollar" seems to have been first used by Washington Irving.

Collateral security is an additional and separate security for the performance of an obligation.

Seneca concluded that " money is a greater torment in the possession than it is in the pursuit."

The original English exchange at London was called the "Burse," and was opened by Queen Elizabeth in 1571.

During the complicated process of manufacturing stamps they are counted eleven times in order to guard against pilfering.

A sinking fund is a fund formed by setting aside income every year to accumulate at interest for the purpose of paying off debt.

To have your errands rightly done, says an Oriental, you must employ a messenger who is deaf, dumb and blind - and that is money.

Skins, cattle, shells, corn, pieces of cloth, mats, salt and many other commodities have at different times and places been used as " money."

The largest circulation of paper money is that of the United States, being seven hundred millions, while Russia has six hundred and seventy millions.

Money is a terrible blab, says Bulwer; she will betray the secrets of her owner, whatever he do to gag her; she will whisper of his virtues and cry aloud his vices.

Indorsement is the term generally used to denote the writing of the name of the holder on the back of a bill of exchange or promissory note, on transferring or assigning it to another.

Circular notes are bank-notes specially adapted for the use of travelers in foreign countries. Being bills personal to the bearer, they are more safe as traveling money than ordinary notes or coin.

Impartial writers say that the gold contained in the medals, vessels, chains and other objects preserved in the Vatican would make more gold coins than the whole of the present European circulation.

Pine-tree money was the name given to silver money coined at Boston, Massachusetts, in the seventeenth century (from 1652) and so called from the coins bearing the rude figure of a pine-tree on one side.

Colton advises that, to cure us of our immoderate love of money, we should reflect how many goods there are that money will not buy, and these the best; and how many evils it will not remedy, and these the worst.

Debentures are deeds charging property with the repayment of a loan with a certain amount of interest. They are also issued by customs officers, and entitle a merchant to bounty or drawback on goods exported.

Coupon is a term signifying any billet, check or other slip of paper cut off from its counterpart. It is, however, applied chiefly to a dividend or interest warrant, which is presented for payment by holders of bonds of indebtedness.

In round numbers, the weight of $1,000,000 in standard gold coin is one and three-fourths tons; standard silver coin, twenty-six and three-fourths tons; subsidiary silver coin, twenty-five tons; minor coin, five-cent nickel, one hundred tons.

An annuity is a payment generally (but not necessarily) of uniform amount falling due in each year during a given term, such as a period of years or the life of an individual; and payable, either in one sum at the end of the year, or by half yearly or other instalments.

The term Lac, or Lakh, from a Sanskrit word meaning "one hundred thousand," is generally employed in India to indicate 100,000 rupees, the nominal value of which is $48,600; but in consequence of the depreciation in the value of silver the real value is only $40,500.

The continental money consisted of bills of credit issued by Congress during the War of Independence, which were to be redeemed with Spanish milled dollars. Two hundred million dollars worth were issued, but they were never redeemed, and caused much suffering.

The financial term budget is cognate with the French bougette, a small bag. In Great Britain, from long usage, it is applied to that miscellaneous collection of matters which aggregate into the annual financial statement made to parliament by the chancellor of the exchequer.

Trusts are combinations of capitalists for the purpose of restricting production and increasing the price of the manufactures, etc., in which the members of the trusts are interested. Trusts were first introduced by American capitalists, and are in principle similar to syndicates, unions, etc. The operations of trusts in the United States, where they prevail extensively, were investigated by a committee of the U. S. Senate, which issued an adverse report in 1888. Among large trusts have been the salt trust in England, and the Copper Syndicate in France.

Calculating machines were invented to perform mathematical operations by a series of toothed wheels, etc. The first was devised by Pascal, 1650. The most celebrated is that constructed by the late Mr. Babbage (1821-33), who received a sum of #75,000 from the Parliament for his invention.

The capital employed in banking in the principal countries is as follows: Great Britain, $4,020,000,000; United States, $2,655,000,000; Germany, $1,425,000,000; France, $1,025,000,000; Austria, $830,000,000; Russia, $775,000,000; Italy, $455,000,000; Australia, $425,000,000; Canada, $175,000,000.

Stock jobbing is a speculative business on the Stock Exchange. It includes all "time bargains" in which there is no transference of stock, but simply a payment of the difference by the buyer or the seller according as the price of the stock at the time appointed stands above or below the price named in the bargain.