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discount

(Encyclopedia)discount, in banking and investment, fee for lending money, which the banker deducts from the loan when it is given. Thus, with a $1,000 loan at a 6% discount, the borrower receives $940 and repays $1...

Pujo, Arsène Paulin

(Encyclopedia)Pujo, Arsène Paulin arsĕnˈ pôlăNˈ püzhōˈ [key], 1861–1939, U.S. congressman, b. Lake Charles, La. He practiced law in Louisiana before serving (1903–13) as a Democratic Congressman in the...

American International Group

(Encyclopedia)American International Group (AIG), American multinational insurance corporation whose potential bankruptcy in 2008 led to the largest federal bailout of a private company. AIG was founded as American...

Treasury, United States Department of the

(Encyclopedia)Treasury, United States Department of the, federal executive department established in 1789. It is charged with advising the president on fiscal policy and acting as fiscal agent for the federal gover...

interest

(Encyclopedia)interest, charge for the use of credit or money, usually figured as a percentage of the principal and computed annually. Simple interest is computed annually on the principal. Compound interest, paid ...

subtreasury

(Encyclopedia)subtreasury. After President Andrew Jackson vetoed (July 10, 1832) the bill to recharter the Second Bank of the United States, the deposits were removed and placed in state banks that came to be calle...

Special Drawing Rights

(Encyclopedia)Special Drawing Rights (SDRs), type of international monetary reserve currency established (1968) by the International Monetary Fund (IMF). Created in response to worries concerning the limitations of...

Aldrich, Nelson Wilmarth

(Encyclopedia)Aldrich, Nelson Wilmarth, 1841–1915, U.S. Senator from Rhode Island, b. Foster, R.I. He rose in local politics as state assemblyman (1875–76) and U.S. Representative (1879–81) before he served a...

San Bruno

(Encyclopedia)San Bruno săn bro͞oˈnō [key], city (1990 pop. 38,961), San Mateo co., W Calif., a suburb on San Francisco Bay; inc. 1914. There is light manufacturing and petroleum refining. The Golden Gate Natio...

Guérin, Jules

(Encyclopedia)Guérin, Jules gĕrˈĭn [key], 1866–1946, American mural painter and illustrator, b. St. Louis. His illustrations appeared in leading magazines. He executed decorations for the Lincoln Memorial, Wa...