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Economy, and the Public Accounts: Credit
Course of Exchange, proceedings regulating exchange. Credit is where an engagement to pay is accepted instead of actual payment; also, in a general sense, confidence in pecuniary affairs. Credit Foncier, (Fr.), credit on land, a term applied in France, etc., to a financial institution for making loans upon land and real property. Credit Mobilier, (Fr.), credit on personal effects or responsibility, a continental term applied to a kind of bank established to make advances upon movable or personal property, shares, public funds, etc. Currency, coin, notes, and all other instruments by which, for the sake of convenience, commodities are interchanged. Customs, duties on exports or imports. [date.
Days of Grace, the number of days allowed to take up a note or bill after expired Dead Freight, the damage payable by one who engages to load a ship fully, and fails to do so.
Dead Weight, a term applied to an advance by the Bank of England to Government on account of military pensions; also to the aggregate of the fixed annual burden of any concern.
Debenture, a customs certificate for drawback; also, a certificate of mortgage or loan on public works.
Del Credere Guarantee, an engagement by an agent for the solvency of persons who deal with him in the concerns of his principal.
Demand for Commodities, the sacrifice which the demanders are able and willing to make, in order to satisfy their wants. In regard to its extent, it is said to be an effectual demand when they are able and willing to pay the costs of production; and it is said to be in excess above the supply, when, either from the diminution of the supply, or the increase of the effectual demand, the quantity in the market is not sufficient to supply all the effectual demanders. In this case the intensity of the demand and the price proportionately increase. See Glut. Demurrage, the time of detention in loading or unloading a ship beyond that originally stipulated; also the compensation which the freighter has to pay for such detention.
Demurrer, Eng., a stop to an action upon a legal objection which must be determined before further procedure. Derelict, a ship forsaken.
Detinue, see Trover.
Deviation, in Marine Insurance, is that divergence from the voyage insured which discharges the risk of the underwriter.
Diligence, Scot., the means by which the law enforces obligations. Discount, an allowance made for the payment of money before due. Distringas, Eng., a writ to distrain a man for debt; or for his appearance at a certain time. Dividend, the portion of any joint profit or fund given out to be shared. Docket, a short certificate, summary, or memorandum. Dock Warrant, a certificate of goods lodged in a dock-warehouse. Document Bill, a draft accompanied and secured by a bill of lading, and insurance policy of the goods drawn against.
Draff, a petty commercial allowance now nearly obsolete. Draft, an order from one man to another directing the payment of money. Drawback, duty on goods repaid on their exportation. Drawer, Drawee, one who draws a draft, or the party to whom the order is addressed. Dunnage, loose wood placed in a ship's hold to prop the cargo. Echeance, (Fr.), expiration; the time to elapse before a bill falls due. Effective, a continental term for coin in contradistinction to paper money. Ejectment, Eng., an action for the recovery of lands, houses etc. Elegit, Eng., a writ to take in execution, but not to sell, the effects of a debtor. Endowment, the assurance of a sum payable upon an individual attaining any particular year or age. Entrepot, a port or place into which goods are imported and stored for re-exportation to some other place. Equitable Estate, Eng., the right or interest held by one for whose benefit a trust is created.
Equitable Mortgage, a mortgage created by the owner of an estate merely depositing the title-deeds relating to it with his banker, or other creditor, as a pledge for the re-payment of the loan or debt.