Part 888

Marshall.

2. Available for making exchanges; ratable. "An exchangeable value." J. S. Mill.

Ex*change"a*bly, adv. By way of exchange.

Ex*chan"ger (?), n. One who exchanges; one who practices exchange. Matt. xxv. 27.

Ex*cheat" (?), n. See Escheat. [Obs.] Spenser.

Ex*cheat"or (?), n. See Escheator. [Obs.]

Ex*cheq"uer (?), n. [OE. escheker, OF. eichekier, fr. LL. scaccarium. See Checker, Chess, Check.] 1. One of the superior courts of law; -- so called from a checkered cloth, which covers, or formerly covered, the table. [Eng.]

The exchequer was a court of law and equity. In the revenue department, it had jurisdiction over the proprietary rights of the crown against subjects; in the common law department, it administered justice in personal actions between subject and subject. A person proceeding against another in the revenue department was said to exchequer him. The judges of this court were one chief and four puisne barons, so styled. The Court of Exchequer Chamber sat as court of error in which the judgments of each of the superior courts of common law, in England, were subject to revision by the judges of the other two sitting collectively. Causes involving difficult questions of law were sometimes after argument, adjourned into this court from the other courts, for debate before judgment in the court below. Recent legislation in England (1880) has abolished the Court of Exchequer and the Court of Exchequer Chamber, as distinct tribunals, a single board of judiciary, the High Court of Justice, being established for the trial of all classes of civil cases. Wharton.

2. The department of state having charge of the collection and management of the royal revenue. [Eng.] Hence, the treasury; and, colloquially, pecuniary possessions in general; as, the company's exchequer is low.

Barons of the exchequer. See under Baron. -- Chancellor of the exchequer. See under Chancellor. -- Exchequer bills or bonds (Eng.), bills of money, or promissory bills, issued from the exchequer by authority of Parliament; a species of paper currency emitted under the authority of the government, and bearing interest.

Ex*cheq"uer (?), v. t. [imp. & p. p. Exchequered (?); p. pr. & vb. n. Exchequering.] To institute a process against (any one) in the Court of Exchequer.

Ex*cide" (?), v. t. [L. excidere, excisum; ex out + caedere to cut. See Concise, and cf. Excise to cut off.] To cut off. [R.]

Ex*cip"i*ent (?), a. [L. excipients, -entis, p. pr. of exipere. See Except, v. t.] Taking an exception.

Ex*cip"i*ent, n. 1. An exceptor. [R.]

2. (Med.) An inert or slightly active substance used in preparing remedies as a vehicle or medium of administration for the medicinal agents. Chambers.

{ Ex"ci*ple (?), ||Ex*cip"u*lum (?), } n. [NL. excipulum, fr. L. excipere. See Except.] (Bot.) The outer part of the fructification of most lichens.

Ex*cis"a*ble (?), a. Liable or subject to excise; as, tobacco in an excisable commodity.

Ex*cise" (?), n. [Apparently fr. L. excisum cut off, fr. excidere to cut out or off; ex out, off + caedere to cut; or, as the word was formerly written accise, fr. F. accise, LL. accisia, as if fr. L. accidere, accisum, to cut into; ad + caedere to cut; but prob. transformed fr. OF. assise, LL. assisa, assisia, assize. See Assize, Concise.] 1. In inland duty or impost operating as an indirect tax on the consumer, levied upon certain specified articles, as, tobacco, ale, spirits, etc., grown or manufactured in the country. It is also levied to pursue certain trades and deal in certain commodities. Certain direct taxes (as, in England, those on carriages, servants, plate, armorial bearings, etc.), are included in the excise. Often used adjectively; as, excise duties; excise law; excise system.

The English excise system corresponds to the internal revenue system in the United States.

Abbot.

An excise . . . is a fixed, absolute, and direct charge laid on merchandise, products, or commodities.

11 Allen's (Mass. ) Rpts.

2. That department or bureau of the public service charged with the collection of the excise taxes. [Eng.]

Ex*cise", v. t. [imp. & p. p. Excised (?); p. pr. & vb. n. Excising.] 1. To lay or impose an excise upon.

2. To impose upon; to overcharge. [Prov. Eng.]

Ex*cise", v. t. [See Excide.] To cut out or off; to separate and remove; as, to excise a tumor.

Ex*cise"man (?), n.; pl. Excisemen (&?;). An officer who inspects and rates articles liable to excise duty. Macaulay.

Ex*ci"sion (?), n. [L. excisio: cf. F. excision. See Excide.] 1. The act of excising or cutting out or off; extirpation; destruction.