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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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Joseph  Reagle      http://farnsworth.mit.edu/~reagle/home.html
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