DIS 
■ eight, and tlie third with tlie ninth and 
seventh. 
DISCOUNT, a compensation for the 
advance of money which is not due till after 
a certain period. The person advancing 
the money, had he retained it, might have 
made in the given time a certain rate of 
interest ; therefore if he advances it for the 
use of another, it is equitable that he should 
be allowed the same gain as he would have 
made by retaining it in his own hands dur- 
ing the time for which it is lent. Thus, if 
a person is entitled to 1001. at the end of 
a year, and has occasion for the money im- 
mediately, the sum that ought to be given 
as an equivalent thereto, allowing 5 per 
cent interest, is 961. 4s. 9\rl . ; for the dis- 
count of 41. 15s. 2|(1. which is then retained, 
will, if iniproved at 5 per cent interest, 
amount at the end of a year to 51. and con- 
sequently the lender having then 1051. wilt 
. have made the same gain as he would have 
made by retaining the money. This is the 
true principle of discount, according to 
which the tables published by Mr. Smart 
are computed ; but in commercial tran.sac- 
tions, the general mode is, to deduct from 
the sum to be discounted, the simple inte- 
rest on that sum for the time for which it 
is advanced. Thus, if 1001. is payable at 
tlie end of six months, the discount de- 
ducted is 21. 10s. being the half of a year’s 
interest ; or, if 1001. is payable at the end 
of one month, the discount deducted is 
8s. 4d. being the twelfth part of a year’s 
interest. By this means, although the 
legal rate of interest to be received for 
money lent is restricted to 5 per cent, the 
person who employs his money in discount- 
ing, makes a greater rate of interest, and 
the shorter the periods are for which he 
discounts, the greater his annual gains. In 
discounting bills of exchange, the days of 
grace are included in the time the bill has 
to run, the discount being calculated to the 
day on which the money is receivable. 
Discounting of bills of exchange is one of 
the modes in which bankers employ the 
money placed in their hands; they gene- 
rally discount at 5 per cent, but in time of 
peace, when the cun-ent price.s of the pub- 
lic funds are high, they are often willing to 
discount at 4i or 4 per cent. The bank 
of England, and other public banks, like- 
wise employ very considerable sums in dis- 
counting : the Bank of England never dis- 
count any bills which have more than 65 
days to run. 
Discount is likewise used for certain 
DIS 
Customary allowances made by manufac- 
turers and wholesale dealers, to those who 
purchase goods of them in order to sell re- 
tail. In some trades this discount is merely 
in lieu of credit, in others it is made on all 
goods sold, whether for immediate pay- 
ment, or on credit; and is very different 
on different articles, being on some not 
more than 1 or 2 per cent, while on othere 
it amounts to 50, and sometimes more than 
60 per cent. 
DISCRETE, or Disjunct Proportion, is 
when the ratio of two or more pairs of num- 
bers or quantities is the same, but there is 
not the same proportion between all the 
four numbers. Thus, if the numbers 3:6:: 
8 : 16 be considered, the ratio between 3 : 6 
is the same as that between 8:16, and 
therefore the numbers are proportional ; 
but it is only discretely or disjunctly, for 3 
is not to 6 as 6 to 8 ; that is, the propor- 
tion is. broken off between 8 and 3, and is 
not continued as in the following continual 
proportionals, 3 ; 6 :; 12 : 24. 
Discrete quantity, such as is not con- 
tinuous and joined together. Such is a 
number whose, parts being distinct units, 
cannot be united into one continuum ; for 
in a continuum, there are no actual deter- 
minate parts before division, but they are 
potentially infinite. 
DISCUSSION, in matters of literature, 
signifies the clear treating or handling of 
any particular point, or problem, so as to 
shake off the difficulties with which it is 
embarrassed : thus we say, such a point 
was well discussed, when it was well treated 
of and cleared up. 
DISEASE, in medicine, the state of a 
living body, wherein it is deprived of the 
exercise of any of its functions, whether 
vital, natural, or animal. See Medicine. 
DISGUISE, a counterfeit habit. Per- 
sons doing unlawful acts in disguise, are by 
our statutes sometimes subjected to great 
penalties, and even declared felons. Thus 
by an act, commonly called the black act, 
persons appearing disguised and arnted in 
a forest, or grounds inclosed, or hunting 
deer, or robbing a warren or a fish-pond, 
are declared felons. 
DISH, among miners, denotes a wooden 
measure, wherein they are obliged to mea- 
sure their ore : it is kept by the barmaster, 
and contains about 672 solid inches. 
Disjunctive proposition, in logic, is that 
where of several predicates we affirm one . 
necessarily to belong to the subject to the 
exclusion of all the rest, but leave that par- 
