Current

* 1.

Now running or passing; now present; now being created or received; existing in present time.

As, a current — account, balance, earnings, motion, value, year, qq. v. 1 United States v. Noelke, 17 Blatch. 569, 661 (1880). 2 Lincoln Township v. Cambria Iron Co., 103 U. S. 415 (1880); 7 How. ?dl; 53 Ind. 288; 87 id. 37; 3 Monta. 452. > Eandall v. Kreiger, 23 Wall. 147 (1874), cases; Eitchie •„. Franklin County, 23 id. 75 (1874). ^ < Treadwell v. Anglo-American Packing Co., 13 F. E. 22 (1882). And see Featherston v. Eounsaville, 73 Oa. 617 (1884). 3.

Circulating as money; received as money; lavcful as m.oney.

Current funds

Current money; par funds, or money circulating without any discount. A bill of exchange drawn for "current funds" entitles the holder to coin or its equivalent.* Gold, silver, or anything equivalent thereto, 'and convertible at pleasure into the same. 2 " In current funds," as used in a bank-check, means in money; and the insertion of the words does not impair negotiability.' Commencing with the first issue in this country of notes declared to have the quality of legal tender, it has been a -common practice for makers of commercial bills, checks, and notes, to indicate whether the same are to be paid in gold or silver, or in such notes; and the term " current funds " has been used to designate any of these, all being current and declared to be legal tender. It was Intended to cover whatever was receivable and current by law as money, whether in the form of notes or coin.' Current money. - Money received as such in common business transactions; the common medium in barter and exchange.* Current notes. Bank-notes convertible into specie, or redeemable in gold, silver, or an equivalent.5 Current price or value. See Value. Currenoy. Primarily, a passing or flowing — something which passes from hand to hand. In monetary affairs, not necessarily cash; it is equally applicable to anything used as a circulating medium, and generally accepted as a representative of values of property.6 Bank-notes, or other paper money, issued by authority, and continually passing, as and for coin.^ The money which passes at a fixed value, from hand to hand; money which is authorize4 by law.s Includes both coined and paper money; not all bank-notes in circulation, for all such are not neces- Barily money. Whatever is at a discount is not money ' Galena Ins. Co. v. Kupfer, 28 111.

335 (1802). ' [Lacy V. Holbrook, 4 Ala. 90 (1842); 9 id. 389; 34 HI. 292; 9 Ind. 135; 47 Iowa, ?72; 44 Pa. 457. 3 Bull V.

First Nat

Bank of Kasson, 123 U. S. 112 (1887), Field, J. * [Stalworth v. Blum, 41 Ala. 331 (1867); 3 T. B. Hon. 166; 21 La. An. 624; 5 Lea, 96; 1 Dall. 124; 9 Mo. 697. spierson v. Wallace, 7 Ark. 293 (1847); Fleming v. Nail, 1 Tex. 347 (1846); Moore v. Gooch, 6 Heisk. 105 (1871); 64 N. C. 381; 5 Cow. 187; 5 Humph. 485. » [Chicago Fire, &c. Ins. Co. v. Keiron, 27 HI. 607 1 Caton, C. J. nor currency. National bank-notes, although not legal tender, are as much currency as treasury notes, which are legal tender. Therefore, a certificate of deposit promising repayment " in currency " may be deemed negotiable, — it is payable in money.* In an indictment, the words " of the currency current " are equivalent to " current as money." ^ See Par, 2; Tender, 2, Legal.