current

Present; now in progress or transit.

Running; now in transit; whatever is at present in course of passage; as "the current month." When applied to money, it means "lawful;" current money is equivalent to lawful money. Wharton v. Morris, 1 Dall. 124, 1 L. Eld. 65.

— Current account. An open, running, or unsettled account between two parties. Tucker v. Quimby, 37 Iowa, 19; Franklin v. Camp, 1 N. J. Law, 196 ; Wilson v. Calvert, 18 Ala. 274.

— Current expenses. Ordinary, regular, and continuing expenditures for the maintenance of property, the carrying on of an office, municipal government, etc. Sheldon r. Purdy, 17 Wash. 135, 49 Pac. 228; State v. Board of ESducation, 68 N. J. Law, 496, 53 Atl. 236; Babcock v. Goodrich, 47 Cal. 510.

— Current fnnds. This phrase means gold or silver, or something equivalent thereto, and convertible at pleasure into coined money. Bull v. Bank, 123 U. S. 105, 8 Sup. Ct. 62, 31 In Ed. 97; Lacy v. Holbrook. 4 Ala. 90; Haddock v. Woods, 46 Iowa, 433.

— Current money. The currency of the country; whatever is intended to and does actually circulate as currency; every species of coin or currency. Miller v. McKinney, 5 Lea (Tenn.) 96. In this phrase the adjective "current" is not synonymous with "convertible." It is employed to describe money which passes from hand to hand, from person to person, and circulates through the community, and is generally received. Money is current which is received as money ini the common business transactions, and is the common medium in barter and trade. Stalworth v. Blum, 41 Ala. 321.

— Current price. This term means the same as "market value." Cases of Champagne, 23 Fed. Cas. 1168.

— Current value. The current value of imported commodities is their common market price at the place of exportation, without reference to the price actually paid by the importer. Tappan v. U. S., 23 Fed. Cas. 690.

— Current wages. Such as are paid periodically, or from time to time as the services are rendered or the work is performed ; more particularly, wages for the current period, hence not including such as are past-due. Sydnor v. Galveston (Tex. App.) 15 S. W. 202; 'Bank v. Graham (Tex. App.) 22 S. W. 1107; Bell v. Live Stock Ca. (Tex.) 11 S. W. 346, 3 L. R. A. 642.

— Current year. The year now running. Doe v. Dobell, 1 Adol. & El. 806; Clark v. Lancaster Co.unty, 69 Neb. 717, 96 N. W. 593.

Now present or existing; now running or passing; as, a current account, or year, current earnings, current value; circulating as money. Current funds: money current at par; coin, or any-, thing equivalent and convertible at pleasure into coin. Current money: money commonly received in business transactions as a medium of exchange. Current notes: bank notes redeemable in coin.

Running; now in transit; CURTESY, The estate to which by comwhatever is at present in course of passage; mon law a man is entitled, on the death of as “the current month.” When applied to SS his wife, in the lands or tenements of which money, it means “lawful;” current money is she was seised in possession in fee-simple or equivalent to lawful money. 1 Dall. 124. in tail during their coverture, provided they

* 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.