Debenture

is a kind of warrant, given in the office of the British board of ordnance, whereby the person whose name is therein specified, is intitled to receive such a sum of money as by former contract had been agreed on, whether wages, or otherwise. Debenture, in some of the British acts of parliament, denotes a kind of bond or bill, first given in 1649, whereby the government is charged to pay the soldier, creditor, or his a igns, the money due on auditing the account of his arrears. The payments of the board of ordnance for the larger services at home are always made by debentures; and the usual practice has been to make those payments which are said to be in course of office, at a period which is always somewhat more than three months after the date of each debenture, and which can never exceed six: to pay, for instance, at once for the three months of January, February, and March, as early as po ible after the 30th of June. Debentures were generally made up at the Pay-Office by virtue of warrants from the War-Office, with the state of regimental charges annexed, after which is i ued the final, or clearing warrant. See Warrant .