COMMERCE. 39 



Consignment of Goods. — The delivering or making tliem over 

 to another: thus, goods are said to be consigned to a factor 

 when they are sent to him for sale, etc. He who con- 

 signs the goods is called the consigner, and the person to 

 whom they are sent is called the consignee. 



Contraband. — Contraband goods are such as are prohibited to 

 be imported or exported, either by the laws of a particular 

 kingdom or state, or by the law of nations, or by special 

 treaties. 



Corporation. — A body politic or corporate, authorized by law 

 to act as a single person, and endowed by law with the 

 capacity of perpetual succession. 



Cus'toms. — Duties levied on commodities exported and imported. 



Demur rage. — An allowance made to the master or owners of 

 a ship by the freighter for detaining her in port longer 

 than the period agreed upon for her sailing. 



Dis'count. — An allowance made on a bill or any other debt not 

 yet become due, in consideration of immediate payment ; 

 or any deduction from the customary price of an article. 

 To discount a bill of exchange, signifies to pay it before it 

 is due, deducting a certain part of the sum for the accom- 

 modation. 



Dividend. — The share of the interest or profit of stock in 

 trade or other employment, which belongs to each proprie- 

 tor according to his proportion of the stock or capital. 



Draft. — An order by which one person draws on another for a 

 certain sum of money; a check ; a bill of exchange. 



Embargo. — A prohibition issued by the authorities of a coun- 

 try to prevent merchant vessels leaving their ports. It is 

 generally imposed in time of war, or during fear of inva- 

 sion ; and in such cases the ships under embargo are used 

 in armaments, expeditions, etc. 



Emporium. — A common resort of merchants for trade, par- 

 ticularly a city or town of extensive commerce, or in which 

 the commerce of an extensive country centres, or to which 

 sellers and buyers resoit from different countries. 



Exchange'. — The form of exchanging one debt or credit for 

 another ; or the receiving or paying of money in one place 

 for an equal sum in another by order, draft, or bill of 

 exchange. 



Excise'. — An inland duty, paid in some instances upon the com- 

 modity consumed, or on the retail which is the last stage 



