Online Encyclopedia

DISCOUNT

Online Encyclopedia
Originally appearing in Volume V08, Page 312 of the 1911 Encyclopedia Britannica.
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DISCOUNT. (I) A money-market term for the price paid in order to obtain immediate realization of a bill not yet due. If a bill for £xoo due six months hence is discounted at the rate of 3 % per annum, its holder will obtain £q8, ros. in cash for it. (2) A Stock-Exchange term applied to a security, not fully paid, which has fallen below its issue price, and so is said to stand at so much discount. See PREMIUM.
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