circulating medium


Also found in: Legal.

circulating medium

n
(Banking & Finance) finance currency serving as a medium of exchange

cir′culating me`dium


n.
any coin or note passing, without endorsement, as a medium of exchange.
[1790–1800]
References in classic literature ?
These disorders of the circulating medium were a source of endless plague and perplexity to the rulers and legislators, not only in Governor Belcher's days, but for many years before and afterwards.
There is also a great deficiency of a circulating medium. I have seen a man bringing on his back a bag of charcoal, with which to buy some trifle, and another carrying a plank to exchange for a bottle of wine.
Sartwell--whose previous works include Against the State: An Introduction to Anarchist Political Theory (Albany, NY: SUNY Press, 2008) and Exquisite Rebel: The Essays of Voltairine de Cleyre--Anarchist, Feminist, Genius (Albany, NY: SUNY Press, 2005; edited with Sharon Presley)--notes in his introduction to the volume that Warren's ideas can be summarized in four principles: "individualism, self-sovereignty, the cost limit of price, and the labor note as a circulating medium" (5).
As an alternative, slow temperature changes in longer cycles can be achieved by standard temperature control systems: thanks to programming, these systems can change the temperature of the circulating medium from one temperature level to the next.
Consequently, he advocated 'the labor note as circulating medium; that is, the only rational medium of exchange is a representation of a certain definite quantity of labor of a certain type, which is equivalent to a certain quantity of a commodity' (p.17).
"But banking should not include the manufacture of money as, practically, it does today, for the real circulating medium of this nation today is not pocketbook money but checkbook money--the money we have--or think we have--in the banks, deposits, subject to check.
Paper money (as a circulating medium of exchange) was invented in China between 806 and 812 CE.
This gold along with that provided by Thomas Rhodes was stamped into gold coins, providing a circulating medium for the Great Basin Saints.
The corner ATM is, in effect, a reincarnation of the private mint; the "owner fee" is the seigniorage charged for stamping one's virtual gold into the circulating medium of the physical world.
More important, however, is the need to correct a misleading statement made by Professor McDonald: because of the way that the Bank of England operated, "every issue of new government paper increased the circulating medium."
The Southern experience appears to be consistent with the legal restrictions theory of money and suggests a potential role for interest-bearing currency as a circulating medium.