From: "Joseph M. Reagle Jr." <reagle@MIT.EDU>
Date: Thu, 6 Jun 1996 11:55:37 +0800
To: cypherpunks@toad.com
Subject: A.Word.A.Day--seigniorage
Message-ID: <9606051737.AA24555@rpcp.mit.edu>
MIME-Version: 1.0
Content-Type: text/plain


>From: Wordsmith <wsmith@wordsmith.org>
>To: linguaphile@wordsmith.org
>Reply-To: anu@wordsmith.org
>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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_______________________
Regards,            Real generosity toward the future lies in giving 
                    all to the present. - Albert Camus
Joseph  Reagle      http://farnsworth.mit.edu/~reagle/home.html
reagle@mit.edu      E0 D5 B2 05 B6 12 DA 65  BE 4D E3 C1 6A 66 25 4E