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LEFT MONEY 278 MONIS Paper money is of two classes, con- vertible and inconvertible. Convertible is secondary money, deriving its value from, and representing, metallic money, its value deriving from the relations of supply and demand. Convertible money is a receipt for gold and silver, and cir- culates like metallic money in another form. There is also a paper money called bank money. Depositors of metal- lic money discovered that coin would not be demanded at any given time for the full amount of outstanding notes, and thus a much larger sum than the metal- lic reserve could be kept in circulation. Notes were therefore issued in excess of the reserve, but convertible into coin. Bank money increases the volume of monetary circulation, and as it saves metal saves value to the community. When a government or bank fails to re- deem their paper, it falls in value and coin rises. Monetary circulation for trade needs have created composite money systems. Under a single gold standard, paper is used for large and sil ver for small sums. Under a single sil- ver standard, gold might well be used for large payments except for its expense, and payments could also be made in paper, as was the case in Germany in 1875. MONEY, SIS LEO GEORGE CHI- OZZA, English expert on finance and economics, of Italian origin; born in Genoa, Italy, 1870 ; was educated in Eng- land and became managing editor of "The Commercial Intelligence" (1898- 1903) ; became especially expert on in- come tax data, on which subject he was chief witness before a commission ap- pointed to inquire into the subject. He was a member of the Commission on Home Work (1907-1908); during the war he was a member of the War Trades Advisory Board, and Parliamentary pri- vate secretary to Lloyd George, while the latter was Minister of Munitions. In 1918 he abandoned the Liberal party to affiliate with the Laborites. Sir Leo has acquired much prominence as a writer on subjects connected with national finance and economics in general. MONGHYR (mon-ger') a picturesque city of Bengal, India, on the right bank of the Ganges, 80 miles E. by S. of Patna; it consists of the fort, a rocky crag projecting into the river, and the native quarters. From the 12th century onward it was a place of considerable strength; in the 18th century Mir Kasim made it his headquarters. He established an arsenal, and its armorers are still famed. Cotton, cloth, shoes, and furni- ture are manufactured. Pop. about 36,000. MONG NAI, a state of British Bur- ma. It has an area of 2,717 square miles. It is for the most part mourv tainous, but in the valleys rice, tobacco, and tropical fruits are produced. Pop. about 36,000. The capital is the city of the same name. MONGOLIA (-go'li-a), a vast region of the N. E. of Asia, belonging to the Chinese empire, situated between China proper and Asiatic Russia; area, 1,367,- 600 square miles. A great part of it is occupied by the Desert of Gobi or Shamo, and on or near its borders are lofty mountain chains, the principal of which are the Altai, the Sayansk, the Khinghan, and the Inshan. The inhabitants lead a nomadic life. They possess large herds of cattle, sheep, and horses. The climate is intensely hot in summer and bitterly cold in winter. After China's revolution the autonomy of Mongolia was recog- nized by Russia, 1912, and that of Outer Mongolia in 1913. Since 1915 Mon- golia has had its own coinage. Pop. about 2,600,000. MONGOLIAN, in philology, an epithet sometimes applied to the whole class of Turanian tongues; sometimes specifically applied to that group spoken by the Kal- mucks and other tribes from Tibet to China. In ethnology, one of the five great races of the world. The head is square; the face flattish, nearly as broad as long; the eyelids narrow, obliquely turned up at their outer angle; the nose flat, the cheeks _ projecting, the chin somewhat prominent. The hair is straight, the color black, that of the face and body yellowish. It includes not merely the natives of Mongolia properly so called, but the Tartars, the Chinese, the Japanese, the Samoeides, the Cochin Chinese, the Burmese, the Tamuls, the Turks, the Hungarians, and the Finns, Called also Mongolidse, Mongoloids, and Turanians. MONG PAI, a state of British Burma with an area of 660 square miles. The land is for the most part hilly. Rice is produced on irrigated land, and tobacco, sugar cane, cotton, and fruit are grown. Pop. about 21,000. The capital is the city of the same name, MONG PAN, a state of Burma with an area of 2,299 square miles. It is for the most part undeveloped country. The northern part is covered with a dense jungle. Pop. about 19,000. MONIS, ANTOINE ERNEST, a French statesman, born in 1846 at Cha- teauneuf-sur-Charente. Elected deputy 1885-1889. Senator and leader of the