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A.Word.A.Day--seigniorage
>From: Wordsmith <[email protected]>
>To: [email protected]
>Reply-To: [email protected]
>Subject: A.Word.A.Day--seigniorage
>Date: Wed, 5 Jun 1996 00:51:14 -0400
>
>sei.gnior.age or sei.gnor.age \'sa-n-y*-rij\ n [ME seigneurage, fr. MF,
> right of the lord (esp. to coin money), fr. s]eigneur : a government
> revenue from the manufacture of coins calculated as the difference between
> the monetary and the bullion value of the silver contained in silver coins
>
>
> 1996 MARK BERNKOPF, Electronic Cash and Monetary Policy,
> "The widespread adoption of electronic cash would deprive Federal
> authorities of a substantial amount of seignorage, the margin
> between the face value of currency issued, and the costs of issuing
> that currency. In 1994, the Federal Reserve turned about $20 billion
> in seignorage over to the Treasury."
>
>
>...........................................................................
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