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Money Terms

account - a record of money a person deposits into a bank.

alloy - a metal formed by fusing two or more metals.

ATM(automated teller machine) - a computer furnished by a bank for its customers. This computer takes the place of a bank teller so that customers may deposit and withdraw money with out having to enter the bank. They may also use it when the bank is closed. ATM's are usually found mounted on the wall or in a small building outside the bank.

bartering - to trade without using money.

Bureau of Engraving and Printing - the United States facility that makes paper money.

checking - an account on which the depositor may draw checks.

circulate - to move or pass from person to person or from place to place.

commemorative - a coin or bill made in memory of historical events.

Continental Congress - a governing body of people that consisted of delegates from the first U.S. colonies. They first met in Philadelphia on September 5, 1774. There were 56 delegates from 12 colonies in attendance. They met out of a desire to unify the colonies. The First Continental Congress existed from 1774 - 1775. The Second Continental Congress existed from 1775 - 1781.

continentals - a type of paper money.

counterfeit - to make a copy of in order to deceive.

currency - money that is used by a country such as the United States.

denomination - a number that expresses the value of a coin or bill. A one dollar bill and a five dollar bill represent two denominations.

deposit - placing money in a bank or other place for safekeeping.

depositor - a person who deposits money.

dollar - the standard unit of money in the United States that is equal to one hundred cents.

doubloons - a former Spanish coin.

engrave - to cut or carve.

Federal Reserve Bank - the central banking organization of the United States.

Federal Reserves Notes - a type of paper money created after the Federal Reserve Act of 1913. These are the same bills we use today.

greenbacks - U.S. paper money issued in 1861 to finance the Civil War. The back of the bills
were green, so people called them "greenbacks."

foreign - from another country other than the U.S.

income - payment in money for services or work, or from property or investments.

interest - money paid for the use of borrowing money, or money that the bank pays a customer for putting money into their bank.

issue - the act of sending or giving out.

lend - to give the temporary use of money on the condition of repayment and at a set rate of
interest.

minting - the act of making money out of metal.

money - coins and paper currency issued by a government for payment of debts and for purchase of goods and services.

mutilated - to cut up, destroy, or alter radically.

numismatist - a person who collects and studies coins and paper money or medals.

pence - a British term meaning more than one penny.

peso - the unit of money in Mexico.

piastres - a former Spanish silver coin.

pieces of eight - obsolete (out of date) Spanish silver coin.

pygg - type of dense orange clay.

shillings - a former coin of the United Kingdom.

savings account - an account at a bank on which interest is usually paid and from which
withdrawals can be made.

transaction - to carry through or bring about.

treason - the betrayal of one's country.

U.S. Dept. of Treasury - the department that has charge of the income and expenses of a country.

U.S. Government promissory - a written promise to pay a stated sum of money to a certain person at a certain time.

U.S. Government Securities - a stock or bond certificate.

U.S. Mint - a place where money is coined by public authority.

U.S. Secret Service - a division of the U.S. Treasury Department that protects the president and enforces federal laws against counterfeiting U.S. currency and bonds.

wampum - beads of shells strung in strands and used by American Indians as money.

withdraw - to take out.




1 Comments:
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Business Journal said...
November 22, 2007  

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