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Coins and Paper Currency.

133. The legal coins of the United States are:

Gold.

[blocks in formation]

= 3.00

1.00

Silver.

=

Dollar

= $1.00

=

0.50

Half-dollar
Quarter-dollar =

0.25

Twenty-cent piece =

0.20

Dime

=

0.10

One-dollar piece Copper and nickel 3-cent and 5-cent pieces and bronze 1-cent piece.

NOTE. The gold coin is hardened by an alloy of 1 tenth copper and silver (the silver not to exceed 1 tenth of the whole alloy). The silver coin is hardened by 1 tenth copper. The bronze cent has 95 parts of copper to 5 parts of tin and zinc. The 3-cent and 5-cent pieces have 75 parts of copper to 25 parts of nickel.

The silver 5-cent and 3-cent pieces, the bronze 2-cent piece, and the old copper coins, are no longer issued.

Bank bills and United States Treasury notes (greenbacks) are largely used in place of coins. These represent the values of $1, $2, $5, $10, $20, $50, $100, $ 500, and $1000.

134. Exercises in reckoning Money.

Perform as many as possible of the following examples without written work :

How much money in

a. Two 20-dollar bills, three 10's, four 5's, and seven 1's? b. Eight 5-dollar bills, seven 2's, five 10's, and three 1's? c. One 50-dollar bill, six 5's, two 1's, with 3 half-dollars, 5 quarters and 4 dimes?

How much more money must you receive to have $50 if you now have

d. Three 5-dollar bills, seven 2's, four 1's, with 2 half-dollars, 3 quarters, and four 5-cent pieces?

e. Two 5-dollar bills, three 2's, and one 10, with 5 quarters, 4 dimes, two 3-cent, and three 5-cent pieces?

1. How much money shall I have left of six 5-dollar bills, and 2 quarters, after paying for 6 yards of brilliant at 65¢ a yard, for Silesia, 28, and for buttons $1.15?

g. What must you pay for 2 dozen eggs, 5 pounds of sugar, 2 gallons of vinegar, and 2 bushels of apples at the present prices where you live?

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135. Accounts and Bills.

[EXTRACT FROM THE ACCOUNT-BOOK OF T. SMITH & Co.]
EDWARD WILLIAMS,

Dr.

1876.

April 6 To 5 bbls. Western Flour, May 2 "25 lbs. Malaga Raisins," 15¢ 3 75 1 " 16 lbs. Java Coffee,

"1 30¢

June

480 175

28

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"1

1 day's work of hired man......

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@ $84000

136. Above is a record kept by T. Smith & Co. of articles sold and services rendered by them to Mr. Williams.

137. It is customary for persons who buy or sell goods or services to keep a record of the articles bought or sold, the kind and amount of services rendered, their value, etc., as above. Such a record is an account.

138. The person to whom a debt is owed is a creditor. 139. The person who owes a debt is a debtor.

Who is debtor in the account stated above? Who is creditor?

140. A written statement of an account prepared for the debtor by the creditor is a bill.

141. When the bill is paid, the creditor, or some one authorized by him, signs his name to the bill, with the words "Received payment." The bill is thus receipted. (See bills Nos. 2 and 3.)

14.

Mr. George Brewster

Examples for the Slate.

142. Find the cost of each article in the following bills, and their several amounts:

15.

Mr. D. Searles

1876.

Nov. 1
"I 3 300"

Dec. 7 450 "

"/ 35 "1

100 bbls. St. Louis Flour, extra, @* $9.50

10.25

12 "I

Minnesota Flour,

879

14 bu. Corn,

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Received payment,

To 2 bbls. Pork,

250 lbs. Hams,

475

Butter,

Received payment,

(1)

Bought of FOWLE, PRATT, & CO.

(2)

prime,

65 lbs. Paris Green, @
Whiting,
White Lead, ".

"I

Glue,

(3)

New York, Nov. 12, 1877.

"

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Bought of J. SMITH.

Received payment,

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Cincinnati, Dec. 18, 1876.

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35¢

14

119

50%

Worcester, Oct. 9, 1877.

To OTIS LERNED, Dr.†

$15.50

94

249

J. SMITH.

OTIS LERNED.

By JOHN WAITE.

* This sign means "at," and is commonly used in stating prices.

+ This means that Mr. Drew is debtor to Mr. Lerned. Dr. is read "debtor."

17.

collow. ев. соль. Brown

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1877.

Jan. 8 To 12 lbs. Tartaric Acid, @

"1

"/

"/

7"

Blue Vitriol,

"I

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May 9 June 3 July 10

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18.

Mr. Thomas Butler

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(4)

1876.

Apr. 3 To 96 lbs. Rice,

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"I 20 " ". Starch,

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To CHARLES DAY, Dr.

(5)

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" 37"

Saleratus,

New York, Mar. 7, 1877.

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$$7.00

4.00

"I 2.50

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Balance due A. R. Pease

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Cr.*

May 10 By 1 Wagon....... $23.00

"I

16

"I

2 Cows, @$34
Cash.....

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859

210" Crushed Sugar," 13¢
Breakfast Tea," 80¢

46

Japan Tea,

909

159

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10.00

CHARLES DAY.

89

99

Received payment,

* This means that Mr. Butler is credited for goods or cash delivered. Cr. is read "creditor."

Examples for Bills.

143. Find the amounts due in the following examples, and make out the bills, supplying dates, etc., when wanting.

19. Charles Miller bought of James Gibbs, Jan. 4, 1877, 1 horse for $95.00, 2 cows at $50 apiece, 1 wagon for $62.00, 2 shovels at $1.12 apiece, 30 bushels of corn at 65 per bushel, and 17 bushels of wheat at $1.62 per bushel.

20. Samuel Briggs sold to Alfred Loomis 2 pieces flannel, of 62 yards each, at 49 per yard; 38 yards ticking, at 29; 86 yards brown sheeting, at 27; and 42 yards broadcloth at $3.65.

21. Dr. Holland bought of John Avery 9 pounds oil of peppermint at $2.50; 4 pounds oil of cassia at $1.62; 4 pounds oil of orange at $3; 6 pounds oil of lemon at $3.25; 5 pounds oxalic acid at 13; and 5 pounds Seneca root at 95%.

22. Banks & Searles, of Cleveland, bought of Snow & Rising, Albany, 24 sack coats at $15.75; 36 vests at $3.50; 9 dozen felt hats at $36 per dozen; 4 dozen pairs suspenders at 42 per pair; and 23 dozen pairs gloves at 68 per pair.

23. J. D. Furber bought of C. O. Clement, Nov. 8, 1876, 2 Dictionaries, at 87 apiece; 9 Vocal Cultures, at 90%, and 24 Spellers, at 20%. Dec. 2, he bought 2 reams of paper at $ 2.12, 3 dozen pencils at 50%, and 12 slates at 17. Dec. 10, he paid Mr. Clement $ 20.00, and Jan. 1, 1877, Mr. Clement made out his bill. Required the balance due.

24. Sell to your neighbor 4 pear-trees at $1.75 each, 9 tomato-plants at 7 each, 5 geraniums at 30 each, and make out the bill.

25. Sell three different articles from a dry-goods store, and make out the bill.

26. Make out a bill for 3 days' work at 75 a day, 4 days' work at $1.50 a day, and 2 bushels of cranberries at $4 bushel, crediting the person against whom you make the bill with 5 hours' work at 35 an hour.

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