SECTION XI.

FEDERAL MONEY.

ART. 366. FEDERAL MONEY is the currency of the United States. Its denominations, we have seen, are Eagles, Dollars, Dimes, Cents, and Mills. (Art. 244.)

367. All accounts in the United States are required by law to be kept in dollars, cents, and mills. Eagles are expressed in dollars, and dimes in cents. Thus, instead of 8 eagles, we say, 80 dollars; instead of 6 dimes and 7 cents, we say, 67 cents, &c.

368. Federal Money is based upon the Decimal system of Notation. Its denominations increase and decrease from right to left and left to right in a tenfold ratio, like whole numbers and decimals. (Art. 244. Obs. 1.)

369. The dollar is regarded as the unit; cents and mills are fractional parts of the dollar, and are distinguished from it by a decimal point or separatrix (.) in the same manner as common decimals are distinguished from whole numbers. (Art. 311.) Dollars therefore occupy units' place of simple numbers; eagles, or tens of dollars, tens' place, &c. Dimes, or tenths of a dollar, occupy the place of tenths in decimals; cents, or hundredths of a dollar, the place of hundredths; mills, or thousandths of a dollar, the place of thousandths; tenths of a mill, or ten thousandths of a dollar, the place of ten thousandths, &c.

OBS. 1. Since dimes in business transactions are expressed in cents, two places of decimals are assigned to cents. If therefore the number of cents is less than 10, a cipher must always be placed on the left hand of them; for cents are hundredths of a dollar, and hundredths occupy the second decimal place. (Art. 313.) For example, 4 cents are written thus .04; 7 cents thus .07; &c.

2. Mills occupy the third place of decimals; for they are thousandths of dollar. Consequently, when there are no cents in the given sum, two cipher must be placed before the mills. Hence,

QUEST.-366. What is Federal Money? 367. In what are accounts kept in the U. S. How would you express 8 eagles? How express 6 dimes and "cents? 368. Upon what i. Federal Money based? 369. What is regarded as the unit ir Federal Money? What an. cents and mills? How are they distinguished from dollars?

370. To read any sum of Federal Money.

Call all the figures on the left of the decimal point dollars; the first two figures after the point, are cents; the third figure denotes mills; the other places on the right are decimals of a mill. Thus, $3.25232 is read, 3 dollars, 25 cents, 2 mills, and 32 hundredths of a mill.

ORS. Sometimes all the figures after the point are read as decimals of a colar. Thus, $5.356 is read, "5 and 356 thousandths dollars."

Write the following sums in Federal money :

1. 70 dollars, and 8 cents.

2. 150 dollars, 3 cents, and 5 mills.
3. 409 dollars, 40 cents, and 3 mills.
4. 200 dollars, 5 cents, and 2 mills.
5. 4050 dollars, 65 cents, and 3 mills.

Ans. $70.08.

Note. In business transactions, when dollars and cents are expressed together, the cents are frequently written in the form of a common fraction. Thus, the sum of $75.45, is written 75-45 dollars.

100

REDUCTION OF FEDERAL MONEY.

CASE I.

Ex. 1. How many cents are there in 95 dollars?

Solution. Since in 1 dollar there are 100 cents, in 95 dollars there are 95 times as many. And 95×100=9500.

2. In 20 cents how many mills ?

Ans. 9500 cents.
Ans. 200 mills.

Note. To multiply by 10, 100, &c., we simply annex as many ciphers to The multiplicand, as there are ciphers in the multiplier. (Art. 99.) Hence,

371. To reduce dollars to cents, annex two ciphers. To reduce dollars to mills, annex three ciphers.

To reduce cents to mills, annex one cipher.

OBS. To reduce dollars, cents, and mills, to mills, erase the sign of dollars and the separatrix. Thus, $25.36 reduced to cents, becomes 2536 cents.

QUEST.-353. How do you read Federal Money? Obs. What other mode of reading Federal Money is mentioned? 354. How are dollars reduced to cents? Dollars to mills? Cents to mills? Obs Dollars, cents, and mills, to mills?

Ans. 1200 cents.

3. In $12 how many cents?
4. In $460 how many cents?

5. In $95 how many mills?

6. In 90 cents how many mills? 7. Reduce $25.15 to cents. 8. Reduce $864.08 to cents. 9. Reduce $1265.05 to mills. 10. Reduce $4580.10 to mills. 11. Reduce $6886.258 to mills. 12. Reduce $85625.40 to mills.

CASE II.

13. In 6400 cents, how many dollars?

Suggestion. Since 100 cents make 1 dollar, 6400 cents will make as many dollars as 100 is contained times in 6400. And 6400-100=64.

14. In 260 mills, how many cents?

Ans. $64.

Ans. 26 cents.

Note. To divide by 10, 100, &c., we simply cut off as many figures from the right of the dividend as there are ciphers in the divisor. (Art. 131.) Hence,

372. To reduce cents to dollars, cut off two figures on th right.

Ans. $6.26.

To reduce mills to dollars, cut off three figures on the right. To reduce mills to cents, cut off one figure on the right. OBS. The figures cut off are cents and mills. 15. In 626 cents, how many dollars? 16. In 1516 cents, how many dollars? 17. In 162 mills, how many cents? 18. In 1000 mills, how many dollars? 19. In 2360 mills, how many cents? 20. In 3280 mills, how many dollars? 21. Reduce 8500 cents to dollars. 22. Reduce 2345 cents to dollars, &c.

23. Reduce 92355 mills to dollars, &c.

QUEST.-355. How are cents reduced to dollars? Mills to dollars? Mills to cents Obs. What are the figures cut off?

24. Reduce 150233 mills to dollars, &c. 25. Reduce 450341 cents to dollars, &c.

373. Since Federal Money is expressed according to the decimal system of notation, it is evident that it may be subjected to the same operations and treated in the same manner as Decimal Fractions.

ADDITION OF FEDERAL MONEY.

Ex. 1. A man bought a cloak for $35.375, a hat for $4.875, a pair of boots for $6.50, and a coat for $23.625: what did he pay for all?

Operation. $35.375 4.875 6.50 23.625

$70.375 Ans.

We write the dollars under dollars, cents under cents, &c. Then add each column separately, and point off as many figures for cents and mills, in the amount, as there are places of cents and mills in either of the given numbers. Hence,

374. We derive the following general

RULE FOR ADDING FEDERAL MONEY.

Add

Write dollars under dollars, cents under cents, &c., so that the same orders or denominations may stand under each other. each column separately, and point off the amount as in addition of decimal fractions. (Art. 320.)

OBS. If either of the given numbers have no cents expressed, it is customary to supply their place by ciphers.

2. What is the sum of $48.25, $95.60, $40.09, and $81.10?

3. What is the sum of $103.40, $68.253, $89.455, $140 02, and $180?

4. What is the sum of $136.255, $10.30, $248.50, $65.38, and $100.125?

QUEST.-357. How is Federal Money added? How point off the amount Obs. When any of the given numbers have no cents expressed, how is their place supplied?

5. What is the sum of $170, $400.02, $130, $250.10, anɑ $845.22?

6. What is the sum of $268.45, $800.05, $192.125, $80.625, and $90.25?

7. What is the sum of $1500.20, $1050.07, $100.70, $95.025, $360.437, and $425 ?

8. What is the sum of $2600, $1927.404, $1603.40, $3304.17 $165.47, and $2600.08 ?

9. A man bought a load of hay for $19.675, a horse for $73.25, a yoke of oxen for $69.56, a cow for $17, and a calf for $5.80: what did he pay for all?

10. A lady gave $21.50 for a dress, $9.25 for a bonnet, $28.33 for a shawl, and $15.25 for a muff: what was her bill?

11. A jockey bought a span of horses for $276.87, and sold them so as to gain $73.45: how much did he sell them for?

12. A man gave $4925.68 for a farm, and sold it so as to gair $1565.37: how much did he sell it for?

13. A man sold a sloop for $7623.87, which was $1141.25 less than cost: how much did it cost?

14. A man bought a block of stores for $15268, which was $1721 less than cost: what was the cost?

15. What is the sum of 134 dolls. 3 cts. 7 mills, 108 dolls. 6 cts. 8 mills, 90 dolls. 9 cts. 4 mills, and 46 dolls. 18 cts. 4 mills? 16. What is the sum of 61 dolls. 1 ct. 2 mills, 19 dolls. 11 cts. 4 mills, 140 dolls. and 80 dolls. 4 cts.?

17. What is the sum of 140 dolls. 10 cts., 69 dolls. 3 cts. 8 mills, 18 dolls. 7 cts., and 29 dolls. 5 mills?

18. What is the sum of 860 dolls. 8 cts., 298 dolls. 4 cts. 8 mills, 416 dolls., 280 dolls. 13 cts., and 91 dolls.?

19. What is the sum of 14209 dolls., 65241 dolls., 1050 dolls., 610 dolls. 7 cts., and 1000 dolls. 10 cts.?

20. What is the sum of 1625 dolls., 4025 dolls., 1863 dolls. 75 cts., 16000 dolls., and 48261 dolls.?

21. What is the sum of 8 thousand dolls., 2 hundred and 60 dolls. 5 cts., 19 thousand dolls. 60 cts., 6 hundred dolls. 9 cts.? 22. What is the sum of 19 thousand dolls. 50 cts., 61 thousand dolls. 10 cts., 18 hundred dolls. 3 cts.?