COINS, CURRENCY, &c. A table showing the weight and value of the several coins of the United States. All Gold of equal fineness to be valued at 89c. per dwt., and all Silver Coins of the same fineness at D1.11 per ounce. The standard for Gold is 11 parts of fine and 1 part of alloy. The standard Silver is 1485 parts of pure silver to 179 parts of alloy, which is to be wholly of Copper. A TABLE OF GOLD COINS. of pure before 1st after 1st BRAZIL. dwt. gr. gold. Aug.1834 Aug.1834 Johannes, half in pro D. c. m. D. C. m. portion 18 16 17 6 8 Dobraon 34 12 759 30 66 6 32 71 4 Dobra 18 6 401 5| 16 22 2 17 30 5 Moidore, half in proportion 6 22 152 2 6 14 9 6 56 0 Crusado 15 8. 59 8 63 0 161 ENGLAND. 5 5 Guinea, half in propor tion Sovereign, half in pro portion FRANCE. before 1786 TABLE OF GOLD COINS-CONTINUED. | Grains Standard Standard Names of Coins. Weight. of pure before 1st after 1st gold. Aug.1834 Aug.1834 Louis, coined bef. 1786 5 51 112 4 4 54 1 4 84 4 Double Louis, coined since 1786 9 20 212 6 8 59 9 16 3 Louis, do. 4 22 106 3 4 29 5 4 58 1 Double Napoleon, or 40 francs 8 7 17.9 7 23 2 7 71 3 Napoleon, or 20 francs 4 3.89 7 3 62 4 3 86 6 COLOMBIA, S. AMERICA. Doubloon 17 81 360 . 5 14 56 15 53 8 MEXICO. Doubloons, shares in proportion 17 83 360 514 56 15 53 8 PORTUGAL. Dobraon 34 12 759 30 66 6 32 11 4 Dobra 18 6 401 5 16 22 2 17 35 6 · Johannes 18 0 16 00 01 17 06 9 Moidore 6 22 152 2 6 14 9 6 56 0 Piece of 16 testoons, or 1600 rees 2 6 49 3 1 99 2 2 12 5 Old Crusado, 400 rees 15 15 13 6 0 54 9 0 58 6 New Crusado, 480 rees 161 14 8 0 59 8 0 63 7 Milree, coined 1776 19: 18 1 0 73 2 0 78 0 SPAIN. Quadruple pistole, or doubloon,1772, shares in proportion 17 81 437 2 15 03 0 16 03 3 Doubloon, 1801 17 9 360 5 14 56 0 | 15 53 8. Pistole, 1802 4 81 80 1 3 64 0 3 88 3 Coronilla, gold dollar, or Vintem, 1801 1 3 22 8. 0 92 1 098 2 UNITED STATES. Eagle, coined before Ju1834 11 6 247 5 10 00 010 66 8 Eagle, coined since July 31, 1834 . 10 18 232 0 10 000 The above tables are calculated and arranged to the actual use at the United States mint, for estimating the value of gold Note.-In England, where accounts are kept in pounds, shil lings, pence, and farthings, the pound is always estimated at 20 ly 31, suillings, the shilling at 12 pence, and a penny at 4 farthings. The pound sterling is not a coin, although there are bank notes of that denomination. The pound sterling in this country is now estimated at 14.87.5, which would make the shilling=24 cents nearly. REMARKS. The value of the Eagle coined prior to the 31st of July, 1834, is D10.66.8+, which contains 247.5 grains of pure gold +22.5 grains alloy=270 grains, standard weight. By computation, it will be found that every 23.2 grains of pure gold are equal in value to Di, and 25.8 grains of United States standard are also equal to Di. To find the value of any Gold Coin whatsoever. RULE. D. c. m. Reduce its weight of pure gold to grains (troy), and divide by 23.2 for the value in dollars, cents, and mills. 1. Required the value of ilb. of pure gold. Thus, llb. x 12 x 20 x 24-23.2=D248.27.53. Ans. 2. Required the value of llb. standard gold of the U. Siates. Thus, llb. x 12 x 20 x 24-25.8=D223.25.535 Ans. A TABLE OF FOREIGN Coins, &c.--Showing their value in the United States as established by acts of Congress-not given in the preceding tables :- Silver. English or French Crown 1 10 0 Dollar of Spain, Sweden, and Denmark 1 00 0 Dollar of Mexico and S. A. S. 1 00 0 Five-franc Piece 0 93 6 Franc 0 18 8 Pistareen 0 20 0 Pound of Ireland 4 10 0 Pagoda of India 1 94 0 Tale of China 1 - 48 0 Millrea of Portugal 1 28 0 Ruble of Russia 0 66 0 Rupee of Bengal 0 55 5 Guilder of the United Netherlands 0 0 Mark-Banco of Hamburg 0 35 5 Livre of Francois 0 18 5 Gold Ducat of Russia 2 00 0 39 3. In 50 pounds sterling, how many dollars ? Ans. 4.87.5 X 50=243.75D 4 In 75 tales of China, how much United States money ? Ans. Di11.00 5. In 25 sovereigns, how many dollars? Ans. D121.87.5 6. How much United States money in 500 francs ? Ans. D94.00 DISCOUNT. Discount is an allowance made for the payment of any sum of money before it becomes due, and is the difference between that sum, due some time hence, and its present worth. The present worth of any sum or debt not yet due, is so much as would, if put to interest, produce a sum equal to the discount ; or the interest of the present worth and interest of the discount for the given time and rate per cent. shall be equal to the interest of the given sum, or debt, for the same time and rate per cent. Thus the present worth and discount of D100 for 1 year at 6 per cent.; the present worth is D94.34, which subtract froin D100, gives D5.66 discount, and the interest of D94.34 is D5.66, so that neither party is wronged, provided they are both agreed; but in no case should the interest be allowed on the given sum as discount, because the interest would be 16.00, which is 34 cents too much. Again, if I give my note for D106, payable one year hence, the present value of the note will be less than D106 by the interest on its present value for one year; that is, its present value will be D100. The amount named in a note is called the face of the note; thus D106 is the face of the above note ; the discount is the difference between the face of a note and its present value—that is, D6 is the discount on the above note. EXTRACT. That an allowance ought to be made for paying money before it becomes due, which is supposed to bear no interest till after it is due, is very just and reasonable ; but if I pay it before it is due, I give that benefit to another. Therefore, we have only to inquire what discount ought to be allowed. Many suppose that by not paying till it becomes due they may employ it at interest; therefore, by paying it before due, they shall lose that interest and for that reason all such interest ought to be discounted ; but the supposition is false, for they can not be said to lose that interest till the time arrives when the debt becomes due ; in other words, they can not lose what they do not possess, whereas we are to consider what would be lost at present by paying the debt before it becomes due ; this can in point of equity be no o her chan such a sum, which being put out at interest till the debt shall become due, would amount to the interest of the debt for the same time, as before observed. The truth of the rule for working is evident from the nature of simple interest; for since the debt, or face of the note, may bé considered as the amount of some principal (called here pres*ent worth), at a certain rate per cent., and for the given time, that amount must be in the same proportion, either to its principal or interest, as the amount of any other sum, at the same rate, and for the same time, to its principal or interest. In what is termed bank discount, the interest is taken for, or called discount. The word is misapplied ; the banks loan money and receive interest, not discount. The difference will stand D5.66 to 16.761 on D100 for 1 year, at 6 per cent. (See Bank Interest.) RULE I. 1. Find the interest of D100 for the time, and at the rate per cent. mentioned in the question; then add this interest to the D100, and this is the first term. 20. The given sum in the question is the 2d term, and D100 is the 3d term. 3d. Multiply the 2d and 3d terms together, and divide by the first, an the quotient will be the present worth. 4th. When the discount is required, subtract the present worth thus found, from the given sum, and the remainder is the discount. QUESTIONS. 1. Required the present worth and discount of D500, due year hence, at 6 per cent. ? Thus : D100 6 rate per ct., then 106 : 500 :: 100 100 interest-6.00 Ans. 100 106)500(471.98.8 pr't worth. D106 500 given sum. D28.30.2 discount. Ans. |