Money

An universal medium, or common standard, by comparison with which the value of all merchandise may be ascertained; a sign which represents the respective values of all commodities, i In its strict technical sense, coined metal, usually gold or silver, upon which the government stamp has been imposed to indicate its value; in its more popular sense, any currency, tokens, bank-notes, or other circulating medium, in general use as the representative of value.2 A generic term; includes, but is not confined to, coin; whatever is lawfully and actually current in buying and selling, of the value and as the equivalent of coin. By universal consent, bank-notes, lawfully issued, actually current at par in lieu of coin, are money. "Paper money" is as accurate an expression as "coined money." ' The lawful currency of a country; that which may be tendered and must be received in discharge of a subsisting debt.* A simple bequest of " money " will not carry securities. When it can be gathered from the will that the testator used the word in the sense of personal estate, that intention will be given effect.' Power to coin and regulate the value of money is one of the ordmary prerogatives of sovereignty. The power is vested in the national government in order to produce uniformity of value and to prevent the embarrassment of a perpetually fluctuating medium." Lawful m.oney. " Lawful money of the United States " is lawful money of any State or Territory.' ■1 Bl. Com. 276, 329; 2 id.

446; 3 id. 231; 2 Story, Const. § 1118. 2 Kennedy t'. Briere, 45 Tex. 309 (1876), Moore, A. J.; Block V. State, 44 id. 622 (1876). >Klauber u. Biggerstaff, 47 Wis. 657 (1879), Eyan, Chief Justice. < Morris v. Edwards, 1 Ohio, 204 (1823). See also 2 Cranch, C. C. 43; 3 T. B. Mon. 100; 15 Pick. 173; 34 Mich. 490; 6 N. J. L. 826; 5 Humph. 140; 71 Ala. 554.

BQlendenning u.

Glendenning, 9 Beav. 334 (1846); Eogers v. Thomas, 2 Keen, *S (1837); Dowson v. Gaskoin, ib. *14 (1837); Smith v. Davis, 1 Grant, 158 (1858); Paul i>. Ball, 31 Tex. 10 (1868); Blood v. Fairbanks, 48 Cal. 171 (1874); Smith v. Burch, 93 N. Y. 231-34 (1883), cases; 2 Eedf. Wills, 111, 437; Jarm. Wills, Ch. 24; 2 Williams, Ex. 1025. ' 2 Story, Const. § 1123; Legal Tender Cases, 13 Wall. 602(1870); 1 Bl. Com. 276.

Nothing is "lawful money of the United States " but gold or silver coin, United States treasury notes, or fractional currency. National bank notes are not such money. ^ See further Tender, 2, Legal. The notes issued by the Confederate States had no real value; they were made current as dollars by irresistible force. They were the only measure of value the people had, and their use was a matter of almost absolute necessity. This use gave them a sort of value, insignificant and precarious' enough it is true, but always having a sufficiently definite relation to gold and silver, the uniform measure of va,lue, that it was always easy to ascertain how much gold and silver was the equivalent of a sum expressed in this currency. The notes were considered as if issued by a foreign government temporarily occupying our territory. Contracts for payments in this currency were not regarded for that reason only, as made in aid of the foreign invasion in the one case, or of the domestic insun-ection in the other. They had no necessary relation to the hostile government. They 'were transactions in the. ordinary course of civil society, and, though they might indirectly and remotely have promoted the ends of the imlawful government, were without blame, except when proved to have been entered into with an actual intent to further invasion or insurrection. Such contracts should be enforced after the restoration of peace.'' Deferred payments under a contract for the sale of land, made in 1856, came due during the war and were paid to the representative of the vendor in Confederate money. Held, that, as against the heirs of the vendor who did not ratify it, the payment did not extinguish the indebtedness; that lawful money of the United States was contemplated.^ Money bills. In the constitution of Massachusetts, bills before the legislature that transfer money or property from the people to the State; not bills that appropriate from the treasury of the State. Bills for revenue.* Money counts. Claims in an action of assumpsit (q. v.) for money expended in behalf of the defendant or received by him for the plaintiff.

5 See Count, 4 (1), Common.

Money judgment

A judgment for a sum of money, rather than for other property. Opposed to personal judgment. Money made.

See Make, 7. 1 Hamilton v. State, 60 Ind. 194 (1877). 2 Thornington v. -Smith, 8 Wall. 11-13 (1868), Chase, C. J.; Efflnger v. Kenney, 115 U. S. 566, 669-76 (1886); Wilmington, &c. R. Co. v. King, 91 id. 3 (1875); Stewart V. Salamon, 94 id. 484 (1876); Cook v. Lillo, 103 id. 792(1880); Rives v. Duke, 105 id. 140 (1881). > Opier. Castleman, 32 F. R. 511 (1887), Jackson, J. Money-order. The act of June 8, 1872, c.

355, provided for the establishment of the money-order system of the United States, i Moneyed capital. As used in Rev. St., § 5319, forbidding a State to tax shares of stock in national banks at a greater rate than is assessed upon other " moneyed capital " in the hands of individual citizens of the State, embraces capital employed in national banks, and capital employed by individuals when the object! of their business is the making of profit by the use of their moneyed capital as money. It does not include moneyed capital in the hands of a corporation, even if its business be such as to mak& its shares moneyed capital when in the hands of individuals, or if it invests its capital in securities payable in money.2 Moneyed corporation. See Coepoea-