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more to use the vernacular currency of New York in their daily chaffering, from one end of the United States to the other. You will frequently hear people giving you the price of things in York Shillings and York sixpences. I think this experiment is conclusive, and ought to be satisfactory to prove that the duodecimal currency in small transactions is a great public convenience. I am sure it is only this actual and felt convenience which has enabled it to maintain its ground for 60 years. For myself, I have no idea that we shall ever abandon the shilling currency; the lapse of generations has only fixed it more firmly upon us, and I fully believe that in a few years we shall have a Congress so governed by common sense, and so alive to the convenience and welfare of the people, that they will legalise the York shilling and sixpence, as the eighth and sixteenth of a dollar, and will give us from our own Mint a corresponding coinage." The Committee of the Legislative Assembly of Canada reported that coins representing the eighth and sixteenth of a dollar, were indispensable in small transactions in Canada; these coins being quite incompatible with a decimal coinage.

55. The introduction of a decimal system of coins into France, was easier than almost any other nation. The French coins, like those of Western Europe, were divided into livres, or francs, sols, and deniers. But the successive depreciations had brought the livre, or franc, down to below 10d., the sol was in fact equal to d., and the denier had altogether ceased to exist as a coin. The franc and the sol were therefore all that were wanted. It was only to call it five centimes instead of one sol, and the thing was done. Nevertheless, slight as this change was, it was effected with inconceivable slowness, if indeed it can be said to be done yet. The name of the livre was abolished, but that of franc retained. In order to make it weigh 5 grammes, it was found necessary to increase its weight by 1-80th part. Slight as this difference was, it gave rise to great disturbance. Dr. Gray says, "Even now, at the distance of more than half-a-century, it is by no means universally adopted in France, either in accounts, or still less in the great mass of ordinary retail dealings. As long as the old livres remained in circulation, whenever they were tendered in place

of a franc, it became a constant source of contention which party was to be the loser by the bargain; one or the other must be so, as there was no coin to represent the actual difference, and the debate frequently ended in the weaker party giving two centimes, or one fiftieth-part instead of one eightieth part over and above the livre; or as a centime was a rarity seldom seen, a livre and a sol were combined to represent a franc, and thus the receiver obtained three and three quarters per cent. beyond the real value of the new coin as compared with the old." Dr. Gray says that even now accounts are still frequently kept in livres, sols, and deniers, in the provinces, and even in Paris itself the prices of most of the common and smaller articles are constantly expressed in sous. Galignani's Messenger is marked ten sous, not fifty centimes, or five decimes. In 1856, an ordonnance was issued to prevent people crying articles in the streets in sous! So long do the old habits of the people on so small a matter continue against all the efforts of a powerful government.

56. The French introduced their decimal system of monies into Sardinia in 1793. The lira was diminished to an equality with the franc; 100 old Piedmontese lire being coined into 118 new lire, or francs. The Sardinian money is now in all respects the same as the French, the coins of the two countries passing freely in each other. This change was continued by the restored dynasty, after the overthrow of the French Empire. By laws of the 12th of August and 7th September, 1816, and 4th and 9th December, 1820, the new lira was declared to be the money of account, and all contracts were ordered to be made in that coin. In 1827, this system was extended to the Duchy of Genoa, and in 1843 to the island of Sardinia. And since the unification of Italy, the French system of coinage has been adopted throughout the country.

57. The French introduced the decimal system into Belgium in 1803. It was suppressed in 1816 in favour of the decimal system of the Netherlands, but the French system was restored in 1832. Before 1803, there were four distinct systems of coinage legalized, and in common use; namely, the Flemish livre containing twenty schillings, each schilling twelve gros, each

gros, eight penninghens, and each penninghe three myten. This money was used chiefly for calculating the foreign exchanges, especially that upon London, and was continued so late as 1843. The great commercial houses kept their accounts in florins, divided into 20 sous, and each sol into sixteen deniers. This was also used in the exchange on Amsterdam and Hamburg. The Brabant florin, containing twenty sous, and each sol into twelve deniers, was the money used in the transactions of daily life. And lastly, the government accounts were kept in livres tournois, divided into twenty sols of France, and each sol into twelve deniers. It is not surprising that the establishment of a single uniform system like the French was found to be a great improvement over such complication. But even here the immense time necessary to change the habits of a people is seen. The higher commercial classes in the cities keep their accounts in francs and centimes, but the old division of Brabant-guilders and stivers are still maintained by the small tradesmen and shopkeepers, though these coins have no monetary representatives. In usual life, every man in Belgium is compelled to have constantly at hand his tables of reduction of the various monies, both past and present.

58. Up to 1848, the Swiss coinage was in a state of fearful confusion. Each Canton coined money for itself, which would not pass in the neighbouring ones. Numerous coins from France and Germany also passed current at different denominations. The Federal constitution of 1848 took away the power of the Cantons to coin money, and placed it in the hands of the Federal authorities, and demanded a monetary reform. In 1850, a new Federal law on coins was passed, which was brought into effect during 1851 and 1852. The moneys of account and usage were assimilated to the French, and all the old ones withdrawn and destroyed. What an enormous improvement this was, may be judged by the answer of Mr. Trümhler to the Decimal Coinage Commissioners, who says that before 1850, there were current "all kinds of German dollars, German florins, Austrian zwanzigers, French five-franc pieces, subdivisions of the above, and about 160 different Swiss coins. The legal value of most coins was different in almost every Canton; and the current value differed everywhere from the legal value!" Thus the same coinage

circulates throughout France, Belgium, Switzerland, and Italy, to the immense relief of travellers.

59. The late kingdom of the Two Sicilies had a coinage of which the ducat was the unit, divided into 10 carlini, and each carlino into 10 grains, and each grain into 10 calli. But accounts were kept only in ducats and grains. Payments, however, were seldom made in ducats, which was a very rare coin, but in Neapolitan dollars, worth 12 carlini, or 120 grains. And here we have a curious example of a decimal system of accounts, with a duodecimal coinage. For the coins in circulation were the dollar of 12 carlini, or 120 grains; halfdollars of 6 carlini, or 60 grains: pieces of 4 carlini, 3 carlini, 2 carlini, 1 carlino, and half a carlino. Copper coins are in common use, of half a carlino, 4, 3, 21, 2, 1, 1 grain, and half a grain.

This is a very strong and striking example of what we said above, that as soon as the unit of money becomes of any magnitude, the practical purposes of life irresistibly demand a duodecimal coinage. The very same thing as is manifested in America.

60. The Netherlands, like most other countries, were afflicted with great monetary confusion. The basis of the whole, however, was the florin, containing 20 stivers, or 20 pence English. In 1821, this coin was taken as the unit of the system, and divided into cents and half-cents. In this case we observe the transitions was extremely easy. The stiver was already the 20th part of the florin, and its name was simply changed into 5 cents, as in France. Hence nothing new required to be done; it was simply to abolish a number of the old coins.

61. Portugal is an example of a country having a single unit, like that of China, and all the coins being multiples of that unit. The Portugese unit is the rei, being equal to of a penny. The smallest coin is the 5 reis, or of a penny. But though all the moneys of account were decimal multiples of the rei, the coinage was not so. The coinage consisted of moidores of 4,800 reis; crusadoes, 400 reis; cruzados novos, or pinto, 480 reis; quartinhos, 1,200 reis; testoons, 130 reis; and vintems, 20 reis. This coinage has, however, now been abolished, and it has now

been decimalized, as well as the accounts. The change came into operation in 1857.

62. In Russia, the silver ruble is the standard, being about 37 or 39 pence. This is divided into 100 copecks, and the copeck is divided into halves and quarters. The silver ruble was established as the unit of money in 1840, in place of the ruble of assignation, to which the issues of depreciated paper had reduced the Russian standard. The silver ruble was equal to 3 paper rubles, but the sub-divisions of the latter were the And here we perceive that as soon as it went below cents, the binary division was found necessary.

same.

63. In Greece the drachma is the unit, being in value about 8d.; this is divided into 100 lepta, the latter being about of a farthing. The drachma, however, is an imaginary coin, and foreign coins of gold and silver are current at a regulated value. The only Greek coinage is copper. Hence, although accounts are kept decimally, there is in reality no decimal coinage. Drachmas, half and quarter drachmas, are supposed to exist. Here we see as usual binary division for practical purposes.

64. Such are the examples of actually existing decimal systems both in accounts and coinages, and we shall find that they will throw much light upon the important question whether it is expedient to decimalize the coinage of this country. We observe then, that the highest unit in a decimal system of coinage is the American dollar, which is divided nominally into dimes, cents, and mils. But practically, the only moneys of account are dollars and cents. The next highest was the Neapolitan ducat, 41 pence, divided nominally into 10ths, 100ths, and 1,000ths. But in practice the accounts were kept in ducats and grains only. The coinage was entirely duodecimal. The next highest unit is the Russian ruble, about 38d., both nominally and in practice, divided into 100 copecks; but the copeck is divided into halves and quarters.

Then comes the Netherlands, with its unit of 20d., divided into cents, and these into half cents. Then the French, Swiss, Belgian, and Italian unit of 10d, nearly, divided nominally into decimes, centimes, and millièmes, but practically only into francs