exchequer bills

1 definition found

exchequer bills - Collaborative International Dictionary of English v.0.48 :

  Exchequer \Ex*cheq"uer\, n. [OE. escheker, OF. eichekier, fr.
     LL. scaccarium. See Checker, Chess, Check.]
     1. One of the superior courts of law; -- so called from a
        checkered cloth, which covers, or formerly covered, the
        table. [Eng.]
        [1913 Webster]
  
     Note: The exchequer was a court of law and equity. In the
           revenue department, it had jurisdiction over the
           proprietary rights of the crown against subjects; in
           the common law department, it administered justice in
           personal actions between subject and subject. A person
           proceeding against another in the revenue department
           was said to exchequer him. The judges of this court
           were one chief and four puisne barons, so styled. The
           Court of Exchequer Chamber sat as court of error in
           which the judgments of each of the superior courts of
           common law, in England, were subject to revision by the
           judges of the other two sitting collectively. Causes
           involving difficult questions of law were sometimes
           after argument, adjourned into this court from the
           other courts, for debate before judgment in the court
           below. Recent legislation in England (1880) has
           abolished the Court of Exchequer and the Court of
           Exchequer Chamber, as distinct tribunals, a single
           board of judiciary, the High Court of Justice, being
           established for the trial of all classes of civil
           cases. --Wharton.
           [1913 Webster]
  
     2. The department of state having charge of the collection
        and management of the royal revenue. [Eng.] Hence, the
        treasury; and, colloquially, pecuniary possessions in
        general; as, the company's exchequer is low.
        [1913 Webster]
  
     Barons of the exchequer. See under Baron.
  
     Chancellor of the exchequer. See under Chancellor.
  
     Exchequer bills or Exchequer bonds (Eng.), bills of
        money, or promissory bills, issued from the exchequer by
        authority of Parliament; a species of paper currency
        emitted under the authority of the government, and bearing
        interest.
        [1913 Webster]