money of account

noun

1. a monetary denomination used in reckoning, especially one not issued as a coin, as the U.S. mill.

money of account

noun

1. another name (esp US and Canadian) for unit of account

Word History and Origins

Origin of money of account¹

First recorded in 1685–95

Example Sentences

The original coinage act established the United States Mint and declared the dollar as the “money of account” for the new republic.

From Wall Street Journal

An East Indian money of account, the sixteenth of a rupee, or about 2? cents.

From Project Gutenberg

Ordinances had been passed during the confederation to organize the executive departments, and for the establishment of a mint, but the new constitution did not perpetuate any of those laws, and yet congress continued to legislate for a period of three years before any new law was passed prescribing the money unit or the money of account, either for "the public offices" or for the courts.

From Project Gutenberg

Two years before that, to-wit, July 6, 1785, the congress of the confederation enacted that the money unit of the United States should "be one dollar," and one year later, to-wit, August 8, 1786, they established the standard for gold and silver, and also provided that the money of account of the United States should correspond with the coins established by law.

From Project Gutenberg

Wise and complete as those laws were, still some difficulties arose, as the several states had not adopted the money unit of the United States, nor the money of account prescribed by the twentieth section of the act establishing the mint.

From Project Gutenberg