DISCOUNT

the sum deducted from th | account in consideration of prompt p: is| ment, the difference between the cre r-| price and the cash sam In bank iy | operations the holder of a Bill of Bxchar s- | (that is, a promise to pay a certain sum a certain date), often prefers to roce D, | ready money, and so sella his bil) in | of | markot at a reduction (which will ws b | according to the current rate of inter: J. |} and the time tho bill has “to run ih m | difference betweon the face value of | 3- | bill and the cash received for it ls ye | discount. (See “ Discounting a Bill” t. | Commercial Dictionary). st; DISRA’ ELI, BENJAMIN, }. in Lond e | 1895, d. 1881; son of Isaac D'Isra t.| a8 well-known author At first he + articled to a solicitor, then he embark ye | in literature, his earliest novel being Vics 3, | Grey. In 1837 ho entered Parliament | Conservative member for Maidsto e | after pect twice contested — >». } unsucce fully as a Radical. His 6 g@ | speech, though a failure at the time, 1@ | become famous for ita prediction to y | House, ** The time will come when yoy ¥ hear me.” In 1841 he became member >, | Shrews bury, and began his attack on | ), | Robert Peel's Free Trade Policy. | ‘t | the death of Lord George Bentinck, y | 1848, he became Protectionist leader in t Commons. He was Chancellor of f s,| Excheouer in Lord Derby’s three Adm ¢ | ist rations (1852-3, 1858-9, 1866-8), a 3 |} im 1868 became premier. Tt was due t, | bis in sicht that the Conservatives pas: - | the Reform Bill of 1867, but his resier - | Gon at the end of the next year brought t |} a Liberal Ministry under Mr. Gladste: % |} which tastod till 1874. The Conser: © | tives then returned to office with a stro majority in the Commons. In 1877 | Disraeli went to tbe Upper House Fars Fave ous | Rarl of Beacons field, and the following i sane attended the Congre of Berlin on pro-| the Eastern Question, from which he ver | returned with Lord Salisbury bearing Me with honour.” Nothing has more sei] | brilliantly vindicated his political sagacity rata | than his acquisition of a preponderating urs,| influence for Great Britain in the Suez ean | Canal by the purchase of the Ehedive's bot | shares at the cost of £4,000,000. In i88C otal | the Liberals returned to —— but few, at| would be found to deny t the present atic Popalarty of the Conservative party ton/among the ma es, and the ng ones ory | ideals so prevalent now, are the heritage in} of Mr, Disraeli’s preecience; and those two features bave been rendered per- ~ der| manent by the “ Primrose ee the | formed in his memory. His many snd | (of which Lothair was the last), ——— as| widely popular at one time, are y 7% neared bY saat ome inadequacy “a ria, y an « ck-| conception both of characters and conpers | ditions. tin-} [s. 123]