Page:Encyclopædia Britannica, Ninth Edition, v. 16.djvu/761

termediate coins are introduced, e.g., in France, 2-franc and 5-franc pieces. In fact, most modern currencies are a combination of the decimal and binary systems, England alone adhering to a modified duodecimal scale. A decimal coinage has for the last sixty years been proposed for England, and it is almost certain that if any one scheme could be pointed out as much preferable to any other it would be accepted. As it is, there are two or three proposals, each commanding some support, while many advocates of the decimal system prefer to wait till an international agreement for its adoption can be obtained. One of the schemes advanced takes the present farthing as its base; then 10 farthings=1 doit (2$\scriptstyle {\frac {1}{2}}$d.); 10 doits=1 florin (2s. 1d.); 10 florins=1 pound (20s. 10d.). The advantages of this plan are: (1) that the smaller coins now in use could be preserved (the penny being 4 farthings), (2) retail prices, which are for the smaller articles estimated in pence, need not be altered, (3) nor need those which affect postage, tolls, and mileage charges. Against these may be set the loss of the unit of value, the pound, which should be raised to 20s. 10d., so that all accounts, and all large

Table III.—Currencies of the more important non-European States.

Coins.	Material.	Weight in Grammes.	Millesimal Fineness.	Rem. p. 1000	Approximate Money Value.		Coins.	Material.	Weight in Grammes.	Millesimal Fineness.	Rem. p. 1000	Approximate Money Value.
In Fineness.	In Weight.	English.	United States.	In Fineness.	In Weight.	English.	United States.
A. NORTH AMERICA.									States of Colombia[table3 1]—						£	s.	d.		$	c.
British Dominions[table3 2]—									100 Centavos	20	Peso piece	. .	Gold	32·	258	900·	. .	. .	3	19	3	$\scriptstyle {\frac {1}{2}}$	19	30
100 Cent = 1 Dollar.									= 1 Peso.	10	,,
Mexico[table3 3]—						£	s.	d.		$	c.			(Condor)	. . . .	,,	16·	129	900·	. .	. .	1	19	8		9	65
100 Cents	16	Dollar piece	Gold	27·	067	875·	. .	. .	3	4	9		15	74		5	Peso piece	. .	,,	8·	065	900·	. .	. .	0	19	10		4	82
= Dollar.	8	,,	,,	13·	533	875·	. .	. .	1	12	4	$\scriptstyle {\frac {1}{2}}$	7	87		2	,,	. .	,,	3·	225	900·	. .	. .	0	7	11	$\scriptstyle {\frac {1}{4}}$	1	93
	4	,,	,,	6·	767	875·	. .	. .	0	16	2	$\scriptstyle {\frac {1}{2}}$	3	93
	2	,,	,,	3·	383	875·	. .	. .	0	8	1		1	96		1	,,	. .	Silver	25·	0	900·	. .	. .	0	3	11	$\scriptstyle {\frac {1}{2}}$	0	96
	1	,,	,,	1·	692	875·	. .	. .	0	4	0	$\scriptstyle {\frac {1}{2}}$	0	98		20	Centavos	. . . .	,,	5·	0	835·	. .	. .	0	0	9	$\scriptstyle {\frac {3}{4}}$	0	19
										10	,,	. . . .	,,	2·	5	835·	. .	. .	0	0	5		0	10
	1	,,	Silver	27·	067	900·	. .	. .	0	4	0	$\scriptstyle {\frac {1}{2}}$	0	98		5	,,	. . . .	,,	1·	25	835·	. .	. .	0	0	2	$\scriptstyle {\frac {1}{2}}$	0	5
	50	Cent piece	. .	,,	13·	533	900·	. .	. .	0	2	0		0	24
	25	,,	,,	6·	767	900·	. .	. .	0	1	0		0	24	Peru*[table3 4]—	,,
United States[table3 5]—									100 Centesimos	20	Sol piece	. . . .	Gold	32·	258	900·	. .	. .	3	19	3	$\scriptstyle {\frac {1}{2}}$	19	30
100 Cents	20	Dollar piece									= 1 Sol	10	,,	. . . .	,,	16·	129	900·	. .	. .	1	19	8		9	65
1 Dollar.	(Double Eagle)	,,	33·	436	900·	2·	1·	4	2	6		. .			5	,,	. . . .	,,	8·	065	900·	. .	. .	0	19	10		4	82
	10	Dollar piece										2	,,	. . . .	,,	3·	225	900·	. .	. .	0	7	11	$\scriptstyle {\frac {1}{4}}$	1	93
	(Eagle)		. . . .	,,	16·	718	900·	2·	2·	2	1	3		. .			1	,,	. . . .	,,	1·	613	900·	. .	. .	0	3	11	$\scriptstyle {\frac {1}{2}}$	0	96
	5	Dollar piece	,,	8·	359	900·	2·	2·	1	0	7	$\scriptstyle {\frac {1}{2}}$	. .
	3	,,	,,	5·	015	900·	2·	2·	0	12	4	$\scriptstyle {\frac {1}{2}}$	. .			1	,,	. . . .	Silver	25·	0	900·	. .	. .	0	3	11	$\scriptstyle {\frac {1}{2}}$	0	96
	2$\scriptstyle {\frac {1}{2}}$	,,	,,	4·	179	900·	2·	3·	0	10	4		. .			50	Centesimos	. .	,,	12·	5	900·	. .	. .	0	1	11	$\scriptstyle {\frac {1}{2}}$	0	48
	1	,,	,,	1·	671	900·	2·	3·	0	4	7	$\scriptstyle {\frac {1}{2}}$	. .			20	,,	. .	,,	5·	0	900·	. .	. .	0	0	9	$\scriptstyle {\frac {1}{2}}$	0	19
										10	,,	. .	,,	2·	5	900·	. .	. .	0	0	4	$\scriptstyle {\frac {3}{4}}$	0	10
	1	,,	Silver	26·	729	900·	3·	5·	0	4	7	$\scriptstyle {\frac {1}{2}}$	. .			5	,,	. .	,,	1·	25	900·	. .	. .	0	0	2	$\scriptstyle {\frac {1}{2}}$	0	5
	50	Cent piece	. .	,,	12·	500	900·	3·	5·	0	2	0	$\scriptstyle {\frac {1}{2}}$	. .
	25	,,	,,	6·	250	900·	3·	5·	0	1	0	$\scriptstyle {\frac {1}{4}}$	. .		Venezuela. See Colombia.
	10	,,	,,	2·	500	900·	3·	. .	0	0	5		. .
	5	,,	,,	1·	250	900·	3·	. .	0	0	2	$\scriptstyle {\frac {1}{2}}$	. .		C. ASIA.
	3	,,	,,	0·	802	750·	3·	. .	0	0	1	$\scriptstyle {\frac {1}{2}}$	. .		India (British)[table3 6]—
B. SOUTH AMERICA.									3 Pie=1 Pice.	30	Rupee piece
Argentine Republic*[table3 7]—									4 Pice=1 Ana.	(Double Mohur)	Gold	23·	321	916·6̇	. .	. .	3	0	0		14	58
100 Centesimos	20	Peso piece	. .	Gold	33·	333̇	900·	. .	. .	4	1	8		19	94	16 Anas=1 Rupee.	15	Rupee piece
1 Dollar	10	,,	,,	16·	666̇	900·	. .	. .	2	0	10		9	97			(Mohur)	. . . .	,	11·	665	916·6̇	. .	. .	1	10	0		7	29
(Peso).	5	,,	,,	8·	333̇	900·	. .	. .	1	0	5		4	98		10	Rupee piece	,,	7·	772	916·6	. .	. .	1	0	0		4	86
	1	,,	Silver	27·	11	900·	. .	. .	0	0	4		0	99		5	,,	,,	3·	886	916·6	. .	. .	0	10	0		2	43
Brazil*[table3 8]—
1000 Reis	20	Milreis piece	Gold	17·	927	916·6̇	. .	. .	2	4	10	$\scriptstyle {\frac {1}{2}}$	10	91		1	,,	Silver	11·	665	916·6	. .	. .	0	2	0		0	48
= 1 Milreis	10	,,	,,	8·	963	916·6̇	. .	. .	1	2	5		5	45		$\scriptstyle {\frac {1}{2}}$	,,	,,	5·	832	916·6	. .	. .	0	1	0		0	24
										$\scriptstyle {\frac {1}{4}}$	,,	,,	2·	916	916·6	. .	. .	0	0	6		0	12
	2	,,	Silver	25·	500	916·6	. .	. .	0	4	5		1	9		$\scriptstyle {\frac {1}{8}}$	,,	,,	1·	458	916·6	. .	. .	0	0	3		0	6
	1	,,	,,	12·	250	916·6	. .	. .	0	2	2	$\scriptstyle {\frac {1}{2}}$	0	55
	$\scriptstyle {\frac {1}{2}}$	,,	,,	6·	375	916·6	. .	. .	0	1	1		0	27	Japan*[table3 9]—
Chili*[table3 10]—									100 Sen = 1 Yen.	20	Yen piece	. .	Gold	33·	333̇	900·	. .	. .	4	2	0		19	94
100 Centavos	10	Peso piece										10	,,	. .	,,	16·	666̇	900·	. .	. .	2	1	0		9	97
= 1 Peso.		(Condor)	. . . .	Gold	15·	253	900·	. .	. .	1	17	6		9	10		5	,,	. .	,,	8·	333̇	900·	. .	. .	1	0	6		4	98
	5	Peso piece	. .	,,	7·	626	900·	. .	. .	0	18	9		4	55		2	,,	. .	,,	3·	333̇	900·	. .	. .	0	8	2		1	99
	2	,,	. .	,,	3·	051	900·	. .	. .	0	7	6		1	82		1	,,	. .	,,	1·	666̇	900·	. .	. .	0	4	1		0	99
	1	,,	. .	Silver	25·	00	900·	. .	. .	0	3	9		0	91
	50	Centavos piece	,,	12·	50	900·	. .	. .	0	1	10	$\scriptstyle {\frac {1}{2}}$	0	45		50	Sen piece	. .	Silver	10·		800·	. .	. .	0	2	0	$\scriptstyle {\frac {1}{2}}$	0	50
	20	,,	,,	5·	00	900·	. .	. .	0	0	9		0	18		20	,,	. .	,,	4·		800·	. .	. .	0	0	10		0	20
	10	,,	,,	2·	50	900·	. .	. .	0	0	4	$\scriptstyle {\frac {1}{2}}$	0	9		10	,,	. .	,,	2·		800·	. .	. .	0	0	5		0	10
	5	,,	,,	1·	25	900·	. .	. .	0	0	2		0	4		5	,,	. .	,,	1·		800·	. .	. .	0	0	2	$\scriptstyle {\frac {1}{2}}$	0	5

* Inconvertible paper currency.

Remarks.—The currencies of such of the non-European States as were capable of being presented in tabular form have been given above, but a brief outline of the currencies of less-advanced countries where a settled coinage does not prevail may be here added. The systems of the various European colonies in America are, as a rule, similar to their mother-countries. Some of the English possessions acquired by conquest preserve their original currency. In Cayenne the pre-Revolution French money is retained. In Paraguay and Uruguay a much-depreciated paper currency circulates. The Central American states reckon in dollars. The Australian colonies have a currency identical with that of England; the same currency exists in South Africa. In Mauritius the Indian system has been recently introduced. The various Turkish vassal states possess peculiar coinages. In Egypt, the coins of various European nations form the chief money. The Asiatic currencies are generally composed of silver. Ceylon has the Indian rupees. The money of Java has since 1877 been assimilated to the latest form of the Dutch monetary system. In China the cash forms the unit, and is made of copper, iron, and tin; silver passes by weight—a tael, which varies from place to place, being the unit; while the silver sycee is the usual medium of exchange. The other Asiatic currencies do not require particular notice.

1. The Colombian States have the Latin Union system, with a ratio of 1 to 15$\scriptstyle {\frac {1}{2}}$.
2. There is no currency issued in Canada; English and American coins circulate. The standard is gold (£1 = $4·80). There were formerly different methods of counting, viz., English sterling, Halifax currency, and Canadian sterling, the respective ratios being 100 : 120 : 108.
3. The decimal coinage has existed in Mexico since 1867. The gold coins are practically commercial money, and command a premium.
4. When Peru returns to cash payments the system will be almost identical with that of Colombia.
5. The dollar was introduced in 1786 as the unit. In 1794 the ratio of gold to silver was fixed at 1 to 15. This valuation underrated gold, consequently silver became the standard. In 1834 the ratio was altered to 1 to 16, and it was again changed in 1837. In these changes gold was overrated, and silver was driven out of circulation. This led, in 1853, to the reduction of the metal in the silver coins, which therefore became a token currency. The suspension of cash payments took place in 1861. In 1873 silver was demonetized, and gold became the standard. In 1878 the "Bland Bill" was passed, making the silver dollar a legal tender, but confining its coinage to the executive, and fixing the amount at from two to four million dollars per month. These silver dollars have not got into circulation. The United States coin a trade dollar of 420 grs. (27·212 grammes), to compete with the Mexican dollar.
6. British India has a single silver standard, as the gold coins are only commercial money. The price of the rupee varies; generally in recent years it has been about 1s. 8d. (=40 cents).
7. The Argentine Confederation professes to have a gold standard. The old South American onza weighed 27 grammes, was 875· fine, and worth £3, 4s. 6d.
8. The Brazilian system is a depreciated form of the Portuguese.
9. The old Japanese coinage consisted of gold cobangs and silver itzibus, with a ratio of 1 to 4. The system was recast in 1871, and the present decimal coinage adopted, the ratio being 1 to 16·17. The standard is now practically silver. In 1875 a trade dollar exactly similar to the American trade dollar was introduced.
10. Chili has nominally a double valuation at 1 to 16$\scriptstyle {\frac {24}{61}}$. Gold coins are no longer struck.