300 ARITHMETIC 



ENGLISH MONEY 



4 farthings (far.) =1 penny d. 



12 pence =1 shilling s. 



20 shillings =1 pound, or sovereign 



far. d. s. 



4 = 1 

 48= 12= 1 

 960 = 240 = 20=1 



The unit of English money is the pound sterling, the value 

 of which in United States money is $4.8665. The fineness of 

 English silver is .925; of the gold coins, .916|. What is called 

 sterling silver when applied to solid-silver articles has the 

 same fineness. Hence the name sterling silver. 



The other coins of Great Britain are the florin ( = 2 shillings), 

 the crown ( = 5 shillings), the half crown ( = 2J shillings), and 

 the guinea ( = 21 shillings) . The largest silver coin is the crown, 

 and the smallest the threepence ( shilling). The shilling is 

 worth 25c. (24.3 +c.) in United States money. The guinea 

 is no longer coined. The abbreviation is written before 

 the number, while s. and d. follow. Thus, 25 4s. 6d. 

 = 25 pounds 4 shillings 6 pence. 



Rule. To reduce pounds, shillings, and pence to dollars and 

 cents, reduce the pounds to shillings, add the shillings, if any, 

 and multiply the sum by 24%; if any pence are given, increase 

 this product by twice as many cents as there are pence. 



EXAMPLE. Reduce 4 7s. lid. to dollars and cents. 



SOLUTION. (4X20+7) X. 241+2X11 = $21.39. 



Rule. To reduce pounds to dollars, and vice versa, exchange 

 being at %4'8665: Multiply the number of pounds by 73, and 

 divide the quotient by 15; the result will be the equivalent in dollars 

 and cents. Or, multiplying the dollars by 15 and dividing the 

 product by 73 will give its equivalent in pounds and decimals 

 of a pound. 



EXAMPLE 1. Reduce 6 to dollars and cents. 



SOLUTION. 6X73-^ 15 = $29.20. 



EXAMPLE 2. Reduce $17 to pounds. 



SOLUTION. 17 X 15 4- 73 = 3.493. 



