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LXX. On a Decimal Si/stem of Monetary Calculation, founded 

 on the present Denominations of Mo7iey and Coins in Great 

 Britain, By Mr. Samuel Read, Member of the School of 

 Naval Architecture, 



To the Editors of the Philosophical Magazine and Journal, 



Gentlemen, 



"lyl/'HILST everybody admits the superiority in every re- 

 ^ ^ spect of a decimal system of calculation in regard to 

 vy^eights and measures and money, and at the same time can 

 only regret that the habits we have imbibed prevent the exe- 

 cution of such a desirable measure as the introduction of a 

 decimal graduation of our monetary scale, I have not seen or 

 heard of any attempt to develop such a system from the pre- 

 sent money table, which, remarkable as it may appear, con- 

 tains a decimal graduation perfectly available in all money 

 calculations, and with a very slight expense might be in- 

 grafted on our present coinage. 



Assuming the shilling as the unit, and having one copper coin 

 of a new value, the whole of our present coinage may be 

 adapted to the decimal scale, which I shall presently deduce 

 from the money table now in use. We shall not have to for- 

 get any of the present denominations of money, or to interfere 

 with deeply rooted habits and prejudices, or to put the country 

 to any other but a very trivial expense in effecting the altera- 

 tion. 



Taking, therefore, the shilling as the unit, I conceive it to 

 be divided into ten parts, each of which cannot perhaps have 

 a more significant name than a "tenth"; a "tenth" I sup- 

 pose also to be divided into ten parts, each of which, from 

 being the y^^dth of a shilling, may very properly be called a 

 "cent"; hence the decimal graduation we have just now in- 

 dicated only wants a step above the shilling to complete it, and 

 that we most fortunately have ready to our hands in the " half- 

 pound." The money table for calculation may therefore be 

 thus simply constructed : 



10 cents equal 1 tenth, 



10 tenths 1 shilling, 



10 shillings 1 half-pound. 



From a consideration of the above table it therefore appears 

 that the only new piece of money absolutely necessary to con- 

 nect the present coinage with this decimal scale is the copper 

 " tenth," for this copper " tenth " would have a value of 12 

 penny ; hence the present farthing would only be y^^dth of a 

 TTiird Series. Vol. 6. No. 36. June 1835. 3 L 



