currency

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Related to Means of exchange: monetary unit, National Currencies

currency

noun bank notes, bills, cash, circulating medium, coin, government notes, hard cash, legal tender, medium of exchange, moneta, money, money in actual use, notes, paper money, ready money, specie
Associated concepts: lawful currency
See also: cash, disclosure, money, publication

CURRENCY. The money which passes, at a fixed value, from hand to hand; money which is authorized by law.
     2. By art. 1, s. 8, the Constitution of the United States authorizes congress "to coin money, and to regulate the value thereof." Changes in the currency ought not to be made but for the most urgent reason, as they unsettle commerce, both at home and abroad. Suppose Peter contracts to pay Paul one thousand dollars in six months-the dollar of a certain fineness of silver, weighing one hundred and twelve and a half grains-and afterwards, before the money becomes due, the value of the dollar is changed, and it weighs now but fifty-six and a quarter grains; will one thousand of the new dollars pay the old debt? Different opinion may be entertained, but it seems that such payment would be complete; because, 1. The creditor is bound to receive the public currency; and, 2. He is bound to receive it at its legal value. 6 Duverg. n. 174.

References in periodicals archive ?
It is an agreement we have made as a society to use something--whether it is sparkly gold coins, paper notes or cowrie shells--as a means of exchange.
But, if rights become compensation for past injustices, the quantitative means of exchange that puts a number on the abstract value of oppression, we are still left with the issue of "commensurate balance.
On the negative side, however, gold isn't easy to carry around in our pockets which impairs its means of exchange function.
Its recent international expansion subsequently expanded the means of exchange accepted within the BarterTrust Network to include the BarterTrust Canadian Dollar and the BarterTrust Peso in Mexico.
The soil remediation by means of exchange of up to 12 m depth, ie a Bauwasserhaltung or a waterproof sheeting (with screw cap and pile wall) is necessary.
While elected governments tamely permit banks to issue our public means of exchange for massive private profit, not only do those controlling the purse strings have voters at their mercy: the rich pickings available in high finance will continue to act as a corrupting influence on those who should be putting the interests of the nation first.
Cash is no longer simply a means of exchange - it has become a valuable commodity.
With its instant purchasing feature, transparent bidding process, and lure of free items, onedayfree's Calendar Auction model provides the most efficient means of exchange for buyers and sellers of surplus assets.
Worldcoin is positioned to be the leader of Cryptocoin technology, allowing the public to reliably engage commerce without having to depend on government-issued currency as the means of exchange.