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Circulating medium

Source : Webster's Revised Unabridged Dictionary (1913)

Medium \Me"di*um\, n.; pl. L. {Media}, {E}. {Mediums}. [L.
   medium the middle, fr. medius middle. See {Mid}, and cf.
   {Medius}.]
   1. That which lies in the middle, or between other things;
      intervening body or quantity. Hence, specifically:
      (a) Middle place or degree; mean.

                The just medium . . . lies between pride and
                abjection.                        --L'Estrange.
      (b) (Math.) See {Mean}.
      (c) (Logic) The mean or middle term of a syllogism; that
          by which the extremes are brought into connection.

   2. A substance through which an effect is transmitted from
      one thing to another; as, air is the common medium of
      sound. Hence: The condition upon which any event or action
      occurs; necessary means of motion or action; that through
      or by which anything is accomplished, conveyed, or carried
      on; specifically, in animal magnetism, spiritualism, etc.,
      a person through whom the action of another being is said
      to be manifested and transmitted.

            Whether any other liquors, being made mediums, cause
            a diversity of sound from water, it may be tried.
                                                  --Bacon.

            I must bring together All these extremes; and must
            remove all mediums.                   --Denham.

   3. An average. [R.]

            A medium of six years of war, and six years of
            peace.                                --Burke.

   4. A trade name for printing and writing paper of certain
      sizes. See {Paper}.

   5. (Paint.) The liquid vehicle with which dry colors are
      ground and prepared for application.

   {Circulating medium}, a current medium of exchange, whether
      coin, bank notes, or government notes.

   {Ethereal medium} (Physics), the ether.

   {Medium of exchange}, that which is used for effecting an
      exchange of commodities -- money or current
      representatives of money.



   {Circulating decimal}. See {Decimal}.

   {Circulating library}, a library whose books are loaned to
      the public, usually at certain fixed rates.

   {Circulating medium}. See {Medium}.
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