The state can take that silver, mint new coins, and pay the boat-builders with the " free money " ( seigniorage ) of the new coins.
42.
Some Quaker meetings recommended that their members not pay taxes to the revolutionary governments, and other Quakers refused to use Continental currency which the revolutionary governments were using for seigniorage.
43.
Economists call this seigniorage, a medieval French term related to droit du seigneur, or lord's rights; in this case it refers to the right to coin money.
44.
This suggests that one reason for the invention of coinage in that area was to increase the profits from seigniorage by issuing currency with a lower gold content than the commonly circulating metal.
45.
The King ceded his seigniorage rights, tribute owed to him, in favor of the better functioning of this institution, that coined the first Brazilian coins for usage within the colony.
46.
The Treasury Department engaged the consulting firm Coopers and Lybrand to conduct the study in 1997, which confirmed the Mint's demand, seigniorage and numismatic profit projections for the program.
47.
By conquering foreign markets, the issuing rulers would enjoy extra income from seigniorage ( the difference between the value of the coin and the value of the metal the coin was made of ).
48.
It would be pointless to pay that price for a few years'benefit, plus the seigniorage that would revert permanently to the ECB . Currencies other than the euro have also been mentioned.
49.
Federal Reserve Notes are backed by debt purchased by the Federal Reserve, and thus generate seigniorage for the Federal Reserve System, which serves as a lending intermediary between the Treasury and the public.
50.
Since money is an interest-free loan to the issuing government by the holder of the currency, foreign reserves act as a subsidy to the country minting the currency ( see seigniorage ).
