circulating medium
noun
1.
any coin or note passing, without endorsement, as a medium of exchange.
2.
such coins or notes collectively.
Origin
1790-1800
Examples from the web for
circulating medium
Air is used instead of a drilling mud as the
circulating medium
to cool the bit and remove the bit-drilled cuttings from the hole.
If air is the
circulating medium
to be employed there are additional requirements that come into play.
The country must be safeguarded against the overexpansion or unjust contraction of either credit or
circulating medium
.
Make such provisions now, that hereafter there be no diminution of the
circulating medium
of the country.
They had thereby a
circulating medium
and legal tender to transact business, when barter could not be employed.
Synthetic ammonia is then added to the
circulating medium
to regenerate the magnesium hydroxide.
British Dictionary definitions for
circulating medium
circulating medium
noun
1.
(
finance
) currency serving as a medium of exchange