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Economy, and the Public Accounts: Interest

Interdiction, Scot., a legal restraint laid on those in danger of suffering by their perfusion or facility. Interest, the consideration for the loan or use of money. Simple Interest is that which is reckoned only upon the principal sum lent during the whole time of the loan. Compound Interest is that reckoned not only upon the principal sum lent, but also on its interest as it becomes due.

Invoice, an inventory of the quantity and price of goods sold or consigned. Jerquing, the search of a ship to ascertain if any unentered goods are on board. Jettison, casting overboard any part of a ship, or its contents, for the preservation of the remainder.

Joint Adventure, a limited partnership, confined to a particular speculation, course of trade, or voyage.

Joint Stock Company, a company contradistinguished from ordinary partnerships, by the administration being vested in certain officers or directors, by the individual partners having no power to deal with the public, and by the shares being transferable. - Vice Societe.

Journal, a technical summary of the primary records of a merchant, preparatory to their being entered in the ledger.

Judgment Debts. A Judgment, in English law, is a species of security created over personal goods, usually with the assent of the debtor, by means of a warrant of attorney, judge's order, or cognovit; and which, when entered up, enables the creditor at any time to issue execution against the goods; by the sale of which he may realize his debt.

Knot, a division of the log-line equivalent to one nautical mile. Labor, in Political Economy, the exertions of human beings employed with a view of production.

Lac, an Indian term for 100,000.

Laches, such negligence as involves the forfeiture of the legal rights of a party, Lay Days, the time allowed for loading and unloading a ship. Leakage, an allowance for waste or loss of liquids.

Ledger, a book containing a methodical summary of all a merchant's accounts and their results.