From: John Young <jya@pipeline.com>
Date: Sat, 6 Apr 1996 17:31:56 +0800
To: cypherpunks@toad.com
Subject: Re: e$ Signorage
Message-ID: <199604060252.VAA22047@pipe2.nyc.pipeline.com>
MIME-Version: 1.0
Content-Type: text/plain


   Perry is closest to Webster's Third New International
   Dictionary:

   -----

   seigniorage or seignorage also seigneurage

      [ME seigneurage, fr. MF, right of the lord, esp. to coin
      money, fr. seigneur + age]

      1: a government revenue derived from the manufacture of
      coins that is calculated in the U.S. as the difference
      between the monetary and the bullion value of the silver
      contained in silver coins disregarding any alloy metal,
      all the metals contained in minor coins (as teh nickel
      and the cent), or the silver bullion that is held as
      backing for silver certificates -- compare brassage.

      2 archaic: Dominion, Power.

   -----

   brassage

      1: a charge made to an individual under a system of free
      coinage for the minting of any gold or silver he may
      bring to the mint and usu. calculated to cover various
      costs -- compare seigniorage.

   -----

   Still, Jim Gleick seems to be citing a special extension of
   this general definition, wherein government capitalizes on
   its money-coining power to reap any ancillary benefit, such
   as the float on money transactions. Is it not likely that
   there are other seigniorages of running the public till, as
   Kawika Gaguio suggests, or even such as pleasurably 
   performed a la droit du seigneur cited by Simon?

   Another definition of seigniorage is that of any means to
   generate benefits for the lord. Along that line, I wonder if 

   governments might not apply brassage to E-money.