| Bill — Last revised 10/8/2008 A proposed law introduced in either the House of Representatives or the Senate. A bill originating in the House of Representatives is designated by the letters "H.R." followed by a number and bills introduced in the Senate as “S.” followed by a number. The sequential numbering of bills for each session of Congress began in the House with the 15th Congress (1817) and in the Senate with the 30th Congress (1847).
Link To Source Joint Resolution— Last revised 10/8/2008 Legislation considered to have the same effect as a bill. Unlike simple and concurrent resolutions, a joint resolution requires the approval of the President. Also, a joint resolution may be used to propose amendments to the Constitution. A joint resolution originating in the House of Representatives is designated by the letters “H.J. Res.” followed by a number and joint resolutions introduced in the Senate as “S.J. Res.” followed by a number. For example: S.J. Res. 2.
Link To Source Private Law— Last revised 10/8/2008 A private bill passed by both the House of Representatives and the Senate in identical form that has been enacted into law. Private laws only affect a private individual or individuals. A Private law is designated by the abbreviation “Pvt. L.” followed by the Congress number (e.g. 104), and the number of the law. For example:
Pvt. L. 104-1.
Link To Source Public Law— Last revised 10/8/2008 A bill or joint resolution passed by both the House of Representatives and the Senate in identical form that has been enacted into law. Public laws affect the entire nation. A Public law is designated by the abbreviation “Pub. L.” followed by the Congress number (e.g. 108), and the number of the law. For example: Pub. L. 108-211.
Link To Source Commodity Money— Last revised 10/13/2008 Commodity money value comes from the commodity out of which it is made. The commodity itself constitutes the money, and the money is the commodity.[8] Examples of commodities that have been used as mediums of exchange include gold, silver, copper, rice, salt, peppercorns, large stones, decorated belts, shells, alcohol, cigarettes, cannabis, candy, barley, etc. These items were sometimes used in a metric of perceived value in conjunction to one another, in various commodity valuation or Price System economies. Use of commodity money is similar to barter, but a commodity money provides a simple and automatic unit of account for the commodity which is being used as money. Related Links
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Credit Money— Last revised 10/13/2008 First it is a claim and the claimant may default (not pay). High levels of default have destructive supply side effects. If manufacturers and service providers do not receive payment for the goods they produce, they will not have the resources to buy the labor and materials needed to produce new goods and services. This reduces supply, increases prices and raises unemployment, possibly triggering a period of stagflation. In extreme cases, widespread defaults can cause a lack of confidence in lending institutions and lead to economic depression. For example, abuse of credit arrangements is considered one of the significant causes of the Great Depression of the 1930s.
The second source of risk is time. Credit money is a promise of future payment. If the interest rate on the claim fails to compensate for the combined impact of the inflation (or deflation) rate and the time value of money, the seller will receive less real value than anticipated. If the interest rate on the claim overcompensates, the buyer will pay more than expected. Related Links
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Fiat Money— Last revised 10/15/2008 money (as paper currency) not convertible into coin or specie of equivalent value Related Links
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Representative Money— Last revised 10/13/2008 Representative money is money that consists of token coins, other physical tokens such as certificates, and even non-physical "digital certificates" (authenticated digital transactions) that can be reliably exchanged for a fixed quantity of a commodity such as gold, silver or potentially water, oil or food. Representative money thus stands in direct and fixed relation to the commodity which backs it, while not itself being composed of that commodity. Related Links
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Concurrent Resolution— Last revised 10/8/2008 Legislation that relates to the operations of Congress, including both chambers, or express the collective opinion of both chambers on public policy issues. A concurrent resolution originating in the House of Representatives is designated by the letters “H. Con. Res.” followed by a number and concurrent resolutions introduced in the Senate as “S. Con. Res.” followed by a number. For example: H. Con. Res. 64
Link To Source Resolution— Last revised 10/8/2008 Legislation introduced in either the House of Representatives or the Senate, but unlike bills they may be limited in effect to the Congress or one of its chambers. The three types of resolutions are joint resolutions, simple resolutions and concurrent resolutions.
Link to Source Roll Call Vote— Last revised 10/8/2008 There are several different ways of voting in Congress, one of which is the roll call vote, where the vote of each member is recorded. Not all bills, in fact, the minority of bills, receive a roll call vote.
link to source Simple Resolution— Last revised 10/8/2008 Legislation that relates to the operations of a single chamber or expresses the collective opinion of that chamber on public policy issues. A simple resolution originating in the House of Representatives is designated by the letters “H. Res.” followed by a number and simple resolutions introduced in the Senate as “S. Res.” followed by a number. For Example: H. Res. 10.
Link To Source THOMAS— Last revised 10/8/2008 THOMAS is the virtual librarian for the United States Library of Congress. The THOMAS system provides search capabilities for nearly every type of record or document stored in the library of congress. Link to THOMAS |