Measures of Value
The common measure of value is Money.
It is also called Currency, and is of two kinds, viz.: coin and paper money.
Stamped pieces of metal having a value fixed by law are Coin or Specie.
Notes and bills issued by the government and banks, and authorized to be used as money, are Paper Money.
All moneys which, if offered, legally satisfy a debt are a Legal Tender.
United States Money
The unit of United States or Federal money is the Dollar.
The dollar mark is probably a combination of U. S., the initials of the words “United States.”
The standard of United States money is the gold dollar. Gold is used because in itself it has great worth and little bulk, and because it varies very little in value.
Names of United States Coins
| Bronze: | Nickel: | ||||
| One-cent piece | Five-cent piece | ||||
| Silver: | Gold: | ||||
| Dollar | = | $1.00 | Double eagle | = | $20.00 |
| Half-dollar | = | 0.50 | Eagle | = | 10.00 |
| Quarter-dollar | = | 0.25 | Half eagle | = | 5.00 |
| Dime | = | 0.10 | Quarter eagle | = | 2.50 |
It may be interesting to know that the word dollar is supposed to have come from Dale, the name of a small town where dollars were first coined.
Dime is from the French word disme, which means tenth.
Cent comes from the Latin word centum, meaning hundred.
Mill is also from the Latin, coming from mille, a thousand.
Eagles were named after our national bird.
Weights of the United States Coins
And the Amounts for Which They are Legal Tender
| GOLD | |||
|---|---|---|---|
| Denominations | Weight Grains | Amount for Which a Legal Tender | |
| Double eagle, $20 | 516. | Gold coins of denomination are legal tenders for any amount. | |
| Eagle, $10 | 258. | ||
| Half eagle, $5 | 129. | ||
| Three dollars | 77. | 4 | |
| Quarter eagle, $2.50 | 64. | 5 | |
| Dollars | 25. | 8 | |
| SILVER | |||
| Denominations | Weight Grains | Amount for Which a Legal Tender | |
| Standard dollar | 412. | 5 | Unlimited. |
| Trade Dollar | 420. | Demonetized—Not a legal tender. | |
| Half dollars | 192. | 9 | Ten dollars. |
| Quarter dollars | 96. | 45 | Ten dollars. |
| Twenty-cent pieces | 77. | 16 | Five dollars. |
| Dimes | 38. | 58 | Ten dollars. |
| Half-dimes | 19. | 29 | Five dollars. |
| Three-cent pieces | 11. | 52 | Five dollars. |
| MINOR COINS | |||
| Denominations | Weight Grains | Amount for Which a Legal Tender | |
| Five cents | 77. | 6 | Twenty-five cents. |
| Three cents | 30. | Twenty-five cents. | |
| Two cents | 96. | Twenty-five cents. | |
| Cents | 48. | Twenty-five cents. | |
Besides the coins there is paper money, founded on credit. It represents value, but in itself has no value.
This paper money is made up of paper promises to pay the amounts named, in gold or silver, on demand.
It includes bank bills, United States treasury notes, government bonds, etc. They represent the values $1, $2, $5, $10, $20, $50, $100, $500, $1,000 and $10,000.
Notation of United States Money
Dollars and cents are written together. Thus, two dollars and sixteen cents is written, $2.16.
The dollars are separated from the cents by a period. If the number of cents is less than ten, the tens’ place is filled by a 0. Thus, we write twenty dollars and two cents, $20.02.
Mills, or tenths of a cent, are written to the right of the cents. Five dollars, six cents, four mills is written, $5.064.
Note.—The rules and processes of decimals apply to the addition, subtraction, multiplication, and division of United States money.
English or Sterling Money
Sterling Money is currency of Great Britain and Ireland.
Table of Sterling Money
| 4 | farthings (far.) | = | 1 penny (d.) |
| 12 | pence (not pennies) | = | 1 shilling (s.) |
| 20 | shillings | = | 1 pound (£), or sovereign |
| 5 | shillings | = | 1 crown |
| 21 | shillings | = | 1 guinea |
The standard unit of Sterling Money is 1 pound or sovereign, whose value in our money is $4.8665.
The coins of Great Britain in general use are:—
Gold: Sovereign, half-sovereign, and guinea, which is equal to 21 shillings.
Silver: The crown (equal to 5 shillings), half-crown, florin (equal to 2 shillings), shilling, six-penny and three-penny pieces.
Copper: Penny and half-penny.
Example: I have £5 sterling. What is the value in United States money?
Solution:
The value is 5 × $4.8665, or $24.33
French Money
In France the currency is decimal. The unit is the Franc.
TABLE
| 10 centimes (ct.) | [pronounced son-teems] | = | 1 decime (de.) |
| 10 decimes | [pronounced des-seems] | = | 1 franc (fr.) |
| Scale.—Decimal | |||
The value of the franc, as determined by the Secretary of the Treasury, is $.193 in United States money.
The coins of France are of gold, silver, bronze, and copper. The gold coins are the hundred, forty, twenty, ten, and five franc pieces; the silver coins are the five, two, and one franc pieces; also the fifty and twenty-five centime pieces. The bronze coins are the ten, five, two, and one centime pieces. There are also copper coins in ten and five centime pieces.
Example: When in France, I bought goods as follows:—
3 books at 2 francs,
1⁄2 dozen pipes at 1 franc,
2 pictures at 4 francs.
What was the cost in United States money?
Work:
| 3 books at 2 francs cost | 6 | francs |
| 1⁄2 dozen pipes at 1 franc cost | 6 | francs |
| 2 pictures at 4 francs cost | 8 | francs |
| Cost of all | 20 | francs |
| 20 francs = 20 × 19.3 cents, or $3.86 | ||
German Money
German money is legal currency of the German Empire.
TABLE
100 pfennigs = 1 mark
Scale.—Decimal
1. The unit is the mark. Its value is $.2385 in United States money.
2. The coins of the German Empire are of gold, silver, nickel, and copper. The gold coins are the 20-mark piece, the 10-mark piece, and the 5-mark piece. The silver coins are the two and one mark pieces; the nickel coins are the ten and five pfennig pieces; and the copper coins are the two and one pfennig pieces.
Philippines Weights and Measures
| 1 pulgada (12 linea) | = | .927 | inch | |
| 1 pie | = | 11 | .125 | inches |
| 1 vara | = | 33 | .375 | inches |
| 1 gantah | = | .8796 | gallon | |
| 1 caban | = | 21 | .991 | gallons |
| 1 libra (16 onzo) | = | 1 | .0144 | pounds average |
| 1 arroba | = | 25 | .360 | pounds average |
| 1 catty (16 tael) | = | 1 | .394 | pounds average |
| 1 pecul (100 catty) | = | 139 | .482 | pounds average |
Paper Measure
| 24 | sheets | = | 1 quire (qr.) |
| 20 | quires | = | 1 ream (rm.) |
| 2 | reams | = | 1 bundle |
| 5 | bundles | = | 1 bale |
Although a ream contains 480 sheets, 500 sheets are usually sold as a ream.
Number Table
| 12 units | = | 1 dozen |
| 12 dozen | = | 1 gross |
| 12 gross | = | 1 great gross |
| 20 units | = | 1 score |