capital

The capital is not an ideal, fictitious, arbitrary sum of money set down in the articles of association, but, in the theory and practical operation of the system, is composed of substantial property, and which gives value and solidity to the stock of the institution. It is the foundation of its credit in the business community.

(1) The amount of money invested in a business; the fund dedicated to a business to support its credit, to provide for contingencies, to suffer diminution from losses, and to derive accretion from gains and profits. 30 Fed. 410. As used in the revenue act it does not include money temporarily borrowed. 21 Wall. (U. S.) 284. (2) "The actual estate, whether in money or property, which is owned by an individual or a corporation. In reference to a corporation it is the aggregate of the sum subscribed and paid in by the shareholders, with the addition of all gains or profits realized in the use or investment of those sums." 23 N. Y. 219. (3) Affecting human life. See "Capital Crime;" "Capital Punishment."

The sum of money which a merchant, banker, or trader adventures in any undertaking, or which he contributes to the common stock of a partnership, and also the fund of a trading company. Me- Culloch. Capital signifies the actual estate, whether in money or property, owned by an individual or corporation; People v. Com'rs of Taxes, 23 N. Y. 192; it is the fund upon which it transacts its business, which would be liable to its creditors, and in case of insolvency pass to a receiver; International Life Assur. Soc. of London v. Com'rs of Taxes, 28 Barb. (N. Y.) 318; it does not include money borrowed temporarily; Bailey v. Clark, 21 Wall. (U. S.) 281. 22 L. i: See, also, Mechanics' & Farmers' Bank v. Townsend, 5 Blatchf. 315, Fed. Cas. X". 9,381; People v. Sup'rs, IS Wend. (N. Y.) 605. Profits of a corporation are not appropriated to its capital because it has incurred a debt nearly equal to such profits in permanent improvements; Davis v. Jackson. 152 Mass. 58, 25 N. E. 21. 23 Am. St. See Dividends; Income; Moneyed Capital. As to what is moneyed capital in a fi act respecting state taxation of national hank stock, see Mercantile Bank v. New York, 121 U. S. 157, 7 Sup. Ct. 826, 30 L. Ed. 895; First Nat. Bank v. Chapman. 173 U. S. 214, 19 Sup. Ct 407, 43 L. Ed. 669.

Chief; principal; at the head; as, a capital burgess, a capital citizen, a capital messuage. Relating to or affecting the life of a person; as, a capital crime, capital punishment A fund employed as the head, beginning or basis of an undefta Wng or enterprise. Capital stock: the fund of a trading company or corporation. V. Capitalis.

Capitalis, I. Chief; principal; affecting the head or life. Capitalis dominus, plegius, debitor, baro, etc.: the chief lord, surety, debtor, baron. Capitalis justitiarius: in old English law the fi'ls.ti justiciar or justice.

See Capitale.

political economy, commerce. In political economy, it is that portion af the produce of a country, which may be made directly available either to support the human species or to the facilitating of production. In commerce, as applied to individuals, it is those objects, whether consisting of money or other property, which a merchant, trader or other person adventures in an undertaking, or which he contributes to the common stock of a partnership. It signifies money put out at interest. The fund of a trading company or corporation 1s also thus, we say the capital stock of the Bank of the United States. CAPITAL CRIME is one for the punishment of which death is inflicted, which punishment is called capital punishment. Dane’s Ab. Index, h. t.