Exchequer

(ēks-chěkür.) [From Fr. échiquier, a che -board-derived from the checkered cloth which anciently covered the table in the court of record called the E.] (Eng. Jurisprudence.) An anc.court of record, said to have been established by William the Conqueror, in which all causes concerning the revenues and rights of the Crown were heard and determined, and where the crown revenues were received - thus consisting of two divisions: a court of revenue, and a court of common law. In its modern form it still retains the latter characteristics, though its former powers of equity jurisdiction have been transferred to the High Court of Chancery. The present Court of E, consists of a chief judge, termed Lord Chief Bar on of the Exchequer, and 4 puisne or younger judges, styled Barons of the E.-Exchequer Bills. (Pol. and Finance.) Bills for money, or promi ory notes, i ued from the English Exchequer under government authority, and bearing interest, generally from 3 to 4 cents per day, per $500. Advances made by the Bank of England to government are made on the security of E.B. [s. 349]