CURRENT

Running; now in transit; whatever is at present in course of pa age; as "the current month." When applied to money, it means "lawful;" current money is equivalent to lawful money. Wharton v. Morris, 1 Dall. 124, 1 L. Ed. 65. -Current account. An open, running, or unsettled account between two parties. Tucker v. Quimby, 37 Iowa, 19; Franklin v. Camp, 1 N. J. Law, 196; Wilson v. Calvert, 18 Ala. 274.-Current expenses. Ordinary, regular, and continuing expenditures for the ·maintenance of property, the carrying on of an office, municipal government, etc. Sheldon T. Purdy: 17 \Vash. 135, 49 Pac. ·228; State v. Boara of ID:lucation, 68 N. J. Law, 496, 53 Atl. 236; Babcock v., Good rich, 47 Cal. 510.-Current funds. This phrase means,rold or silver, or something equivalent thereto, and convertible at pleasure into coined money. Bull v. ·Bank, 123 U. S. 105, 8 Sup. Ct. 62, 31 L. Ed. 97; Lacy v. Holbrook, 4 Ala. 90; Haddock v, Woods, 46 Iowa, 433;-Current money. The currency of the country; whatever is intended to and does actually circulate · as currency; every species of coin or currency. Miller v. McKinney, 5 Lea (Tenn,.) 96. In this phrase the adjective "current" ia not synonymous with "convertible." It is employed to describe mon• ey which pa es from. hand to hand, from person to person, and circulates through the community, and is generally received. Money is current which is received as. money in the ·com• mon busine transactions, and is the common medium in barter and trade. Stalworth v. Blum, 41 Ala. 321.-Current price. This term means the same as "market value." Cases.of Champagne, 2.3 Fed. Oas. 1168.-Current value,. The curren.t value of imported commodfties is their common market price at the •place of eiq,ortatlon, without reference to· the •. price aeluallJ' paid by the importer. Tappan. [s. 314]