Webster 1913 Edition
praemium, originally, what one has got before or better than others;
emereto take, buy. See
A reward or recompense; a prize to be won by being before another, or others, in a competition; reward or prize to be adjudged; a bounty;
premiumfor good behavior or scholarship, for discoveries, etc.
To think it not the necessity, but the
premiumand privilege of life, to eat and sleep without any regard to glory.
The law that obliges parishes to support the poor offers a
premiumfor the encouragement of idleness.
Something offered or given for the loan of money; bonus; – sometimes synonymous with interest, but generally signifying a sum in addition to the capital.
People were tempted to lend, by great
premiumsand large interest.
A sum of money paid to underwriters for insurance, or for undertaking to indemnify for losses of any kind.
A sum in advance of, or in addition to, the nominal or par value of anything;
as, gold was at a
premium; he sold his stock at a
Webster 1828 Edition
1.The recompense or prize offered for a specific discovery or for success in an enterprise; as for the discovery of the longitude, or of a northwest passage to the Pacific Ocean.
2.A bounty; something offered or given for the loan of money, usually a sum beyond the interest.
3.The recompense to underwriters for insurance, or for undertaking to indemnify for losses of any kind.
4.It is sometimes synonymous with interest, but generally in obtaining loans, it is a sum per cent. distinct from the interest.
The bank lends money to government at a premium of 2 per cent.
The law that obliges parishes to support the poor, offers a premium for the encouragement of idleness.