Definition for DIS'COUNT

DIS'COUNT, v.t. [Sp. descontar; Port. id.; Fr. decompter; Arm. discounta, digontein; It. scontare. In British books, the accent is laid on the last syllable. But in America, the accent is usually or always on the first.]

  1. To deduct a certain sum or rate per cent. from the principal sum. Merchants discount five or six per cent for prompt or for advanced payment.
  2. To lend or advance the amount of, deducting the interest or other rate per cent. from the principal, at the time of the loan or advance. The banks discount notes and bills of exchange, on good security. The first rule … to discount only unexceptionable paper. – Walsh.

Return to page 123 of the letter “D”.