Treasury Notes

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Treasury Notes

 

tokens representing value, which substitute in circulation for set quantities of gold or silver. Having no value of their own, treasury notes circulate as representations of gold and silver money and to some’extent may substitute for them as a medium of payment. Treasury notes may take the form of paper money and bank notes, as well as of coins having a nominal value greater than their actual metallic value (such as copper and nickel coins).


Treasury Notes

 

money not exchangeable for gold and issued by the treasury, as well as short-term treasury obligations in circulation. Before World War I, treasury notes greatly differed from bank notes, which were put out by the banks of issue to credit commodity circulation and which were exchangeable for gold. During and for some time after World War I, budget deficits were often covered by treasury notes, as well as by bank notes (which ceased to be exchangeable for gold). During World War II, military expenditures were financed by short-term treasury obligations, such as the “occupation marks” issued by fascist Germany that circulated in countries temporarily occupied by Germany.

In the USSR, treasury notes are used to replace bank notes and to pay small bills. Treasury notes circulate in the country on an equal basis with bank notes. Treasury notes are issued by the Gosbank (State Bank) of the USSR according to its emission plan in denominations of one, three, and five rubles. By law, treasury notes are backed by the national property of the USSR, and their acceptance at their nominal value is mandatory throughout the entire country for all types of payments.

A. B. EIDEL’NANT

References in periodicals archive ?
The short-term investments include interest-bearing bank accounts, money market mutual funds, and U.S. Treasury Notes and Bills.
Meanwhile, in the bond market, risk-averse investors snapped up U.S. Treasury notes, the analysts said.
Roughly a third of China's central bank reserves, approaching an astounding $1 trillion, are in U.S. Treasury notes.
Of course, liberals bent on entrusting their retirement funds to the federal government could still do so in a privatized system by investing the funds formerly reserved for Social Security taxation in low-yield U.S. Treasury notes. They won't have much of a retirement account, however, compared to stocks.
The preferred shares of companies with stellar AAA credit ratings are yielding about 7.25%-7.5%, yet are considered only slightly riskier than U.S. Treasury notes. And, if you're willing to take on riskier corporations with I credit ratings of BBB, you'll get a yield as high as 8%-8.875%.
Stocks faced selling as risk-averse investors shifted their funds into U.S. Treasury notes, market analysts said.
Ever since yields on the benchmark 10-year U.S. Treasury notes exceeded 3.3 percent, a negative effect on markets became apparent, according to Uno.
Investment funds shifted rapidly to safe-haven financial products such as U.S. Treasury notes away from the equity market amid the uncertain outlook for the U.S.
The fresh rise in the yield on 10-year U.S. Treasury notes, the benchmark of long-term interest rates, cooled investor sentiment as it is expected to lead to higher fundraising costs at U.S.

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