Exchequer Bill

One of the bills of exchange i ued by the English government in anticipation of revenue, and on the confidence of the annual financial income. They bear interest at a fixed rate, this rate being computed at the time of their i ue, at a sum proportioned to the current market-rate, the fluctuations in the value of these securities depending on the proportion which such a rate bears to succe ive changes in the market-price of money; when this is high, the security will be at a discount; when low, at a premium. Excide', v. a. [Lat. excido.] To cut off. (R.) Excipient, n. An exceptor. (R.) ( Med .) A substance which is a medical prescription, gives form and consistence to it, and serves as a vehicle or medium for the exhibition of the other ingredients. Excis'able, a. Liable or subject to excise.