DECIMAL MONEY.

A NEW SYSTEM OF RECKONING MONEY DECIMALLY, by subdividing the pound into tenths, hundredths, and thousandths, has been for some time under discussion, with a view to its introduction, if found to be practicable.

The precise details of the system are not determined upon, nor the names to be given to the new denominations of money, but the leading principle in the proposed change is to divide the pound into 1000 parts, instead of, as at present, into 960 farthings, and to advance from one denomination to another, by tens (or combination of tens), as in simple numbers, instead of from 4 farthings to 1 penny, 12 pence to 1 shilling, 20 shillings to 1 pound. If this system be adopted, calculations in money will become as easy as those in simple numbers, and will be wrought by the rules of Simple Addition, Subtraction, &c.

It has been proposed by some, to divide the pound into 1000 parts, termed mils-10 mils to make one cent; 10 cents, 1 florin; and 10 florins, 1 pound. By others, it is proposed to term the 1000 parts into which the pound is to be divided, cents-100 cents to make 1 florin, and 10 florins, 1 pound.

As this latter plan is simpler than the other, we shall assume it to be the one adopted; and as the principle of dividing the pound into 1000 parts is the same in both, the mode of working questions will also be the same, whichever plan should ultimately be preferred.

THE FOLLOWING TABLE will shew the nature of the proposed decimal division of the pound. Both of the proposed plans are given.

Accounts would thus be kept in pounds, florins, cents; and shillings, pence, and farthings would be disused.

As a cent is the 1000th part of a pound, whilst a farthing is the 960th part, it follows that a farthing is equal to 12 cent; and a cent to 2 of a farthing—that is, less than a farthing; 25 cents, therefore, will be the same as 24 farthings. A florin, or 100 cents, is equal in value to 2s.

Besides florins and cents used in keeping accounts, various other coins, each representing so many cents, will be required. The coins under the new system may probably be nearly as follows:

Cents.

THE DECIMALS OF A POUND-that is, florins and cents-may be written in two ways; thus

The first method may probably be used in merchants' books: the second, in which the 9 florins 75 cents are written as 975 cents, will be the most convenient in calculations; all that is necessary to distinguish the cents from the pounds, being the placing a decimal point between them.

In adding, subtracting, multiplying, dividing, &c. sums of money, the process will be exactly the same as in simple numbers, except that it will be necessary, in reading the figures, to attend to the placing of the decimal point in all cases before the third figure from the right when the given number is cents, and before the first figure on the right when the number is florins, to distinguish the florins and cents from the pounds.

It is to be observed that three figures are used to express the decimals of a pound-thus, 346: the first decimal means florins, and the two last cents; or all the three figures may be read as cents.

In any number written as cents, the three last figures are read as cents (or florins and cents), and all the rest as pounds, the decimal point being placed before the third figure from the right: thus, 43624 cents is read as £43, 6 florins, 24 cents, or as £43, 624 cents.

Again, in any number of florins, the last figure is read as florins, and all the rest as pounds-thus, 7468 florins is read as £746, 8 florins. The following examples, in the various rules of Arithmetic, will shew the method of calculating in decimal money :

Examples.

1. Add together 43 pounds, 7 florins, 83 cents; 126 pounds, 2 florins, 74 cents; 342 pounds, 9 florins, 86 cents.

2. Subtract from 4978 pounds, 9 florins, 87 cents; 3785 pounds, 8 florins, 98 cents.

3. Multiply 2354 pounds, 6 florins, 49 cents, by 5.

£2354649

5

£11773 245 Answer.

4. Divide 8796 pounds, 8 florins, 96 cents, by 8. 8) £8796.896

£1099 612 Answer.

5. What is the price of 35 yards of cloth, at 7 florins 25 cents per yard (= 14s. 6d.)?

$725

35

3625

2175

£25.375 Ans.

Here the 7 florins 25 cents are written as 725 cents, and being multiplied by 35, amount to 25375 cents. The decimal point being placed before the third figure from the right, the three last figures express cents (or florins and cents), and all the rest pounds. The answer may be read either as £25.375 cents, or as £25, 3 florins, 75 cents.

6. What is the price of 42 quarters of wheat, at £2, 9 florins, 50 cents, per quarter (= £2, 19s.) ?

£2.950
42

5900

11800

£123.900 Ans.

Here the three last figures are cents, and all the rest pounds, the decimal point being placed between them. The answer may be read either as £123, 900 cents; or as £123, 9 florins.

7. What is the interest for 1 year on £95, 8 florins, 45 cents, at 4 per cent. ?

£95.845

4

383-380

Ans. £3-833,

To divide ordinary numbers by 100, the two last figures are struck off. In decimals, the division is accomplished merely by removing the decimal point two places to the left, and then writing the two last figures as a fraction with the divisor, 100, placed below.

Exercises.

1. Add £2, 5 florins, 33 cents; £4, 9 florins, 86 cents; £7, 3 cents;

£8, 6 florins, 75 cents,

Ans. 23-197 2. Subtract £136, 9 florins, 29 cents, from £254, 3 florins, 18 cents,

3. Multiply £25, 9 florins, 27 cents, by 3, 5, 6, 8,

Ans. 117.389

Ans. £77.781; £129.635; £155.562; £207·416

4. Divide £75, 2 florins, 36 cents, by 2, 4, 7, 8,

Ans. £37-618; £18.809; £10.748; £9.404

435 lbs. of sugar, at 17 cents per lb.
122 yards of satin, at £1.326 per yard,

of cotton, at 76 cents,

10. 336 lbs. of tea, at 2 florins, 35 cents per lb. 538 of sugar, at 13 cents

11.

12.

18 quarters of wheat, at £2.436 per quarter,

What is the interest for 1 year on :

13. £378, 4 florins, 37 cents, at 2 per cent.

H

369, 4 82

654, 9

11 76 M

11

4

5

7.413 12.7692 14.77928

32-748

100

SHILLINGS, PENCE, AND FARTHINGS may be converted into decimal money; and DECIMAL MONEY into shillings, &c. by the following rules: they give the answer within a farthing or a cent of the exact value.

I. TO CONVERT SHILLINGS, PENCE, AND FARTHINGS INTO DECIMAL MONEY.

RULE.-Reckon half the number of shillings as so many florins; and if the shillings are an odd number, reckon the 1s. over as 50 cents; convert the pence into farthings, which, with any farthings in the given sum, reckon as so many cents-adding one more for every 24; then add the whole for the answer.

Example.-Convert 7s. 84d. into decimal money.

II. TO CONVERT DECIMAL MONEY INTO SHILLINGS, PENCE, AND

FARTHINGS.

RULE.-Reckon twice the number of florins as so many shillings; and reckon the cents as so many farthings-less 1 for every 25; then add the whole for the answer.

Example.-Convert 5 florins, 42 cents, into shillings, &c.