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L'exemplaire film6 fut reproduit grfice d la g6n6rosit6 de: La bibliothdque des Archives publiques du Canada Les images suivantes ont 6t6 reproduites avec le plus grand soin compte tenu de la condition et de la nettet6 de l'exemplaire film6, et en conformity avec les conditions du contrat de filmage. ^es Original copies in printed paper covers are filmed beginning with the front cover and ending on the last page with a printed or illustrated impres- sion, or the back cover when appropriate. All other original copies are filmed beginning on the first page with a printed or illustrated impres- sion, and ending on the last page with a printed or illustrated impression. Les exemplaires originaux dont la couverture en papier est imprimde sont filmds en commenpant par le premier plat et en terminant soit par la dernidre page qui comporto une empreinte d'impression ou d'illustration, soit par le second plat, selon le cas. 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Lorsque le document est trop grand pour §tre reproduit en un seul ciichd, il est filmd d partir de Tangle sup6rieur gauche, de gauche d droite, et de haul en bas, en prenant le nombre d'images ndcessaire. Les diagrammes suivants illustrent la m^thode. I errata d to It e pelure, ;on d n 1 2 3 32X 1 2 3 4 5 6 SKETCH Fg& A. NEW DIVISION AND SUB-DIVISION OF S^onteg, mtisW, anU Coins* By MERCATOR. July, 1814. SKETCH, &c. xJuRiNG the investigation by the Bullion Committee, and the discuvssions in Parliament on the subject of our currency, my attention was drawn to the admirable and accurate new System adopted in France in the division of their money of account, the assay of the Coin and the weights, each cor- responding with the other in decimal sub-division, and it occurred to me that the same was applicable without any inconvenience and with infinite advantage, in every respect, to our monies, weights, and coins, which I have endea- "voured to elucidate bv the following sketch ; and as, in consequence of the Peace, we are approaching to the period when a new Coinage will take place, this appears the I)roper time for taking up the subject, which could not have been brought forward sooner, on account of the deranged state of commerce and of our relations with the continent. It will be necessary first to consider weights — our Cwt, clividcd into Quarters and Pounds, involves a most tedious and uncertain operation throughout ; and it is obvious that a Quintal or Cwt of lOOlbs is best adapted to the purposes Cif commerce. — I would therefore propose to adopt the lb. of 16 Ounces Troy, (the same as is known or used in the Commerce of many Countries under the names of Foids 173 dt' Marc, Poids de Cologne, Folds d' A mister dam, c^r. c^r. with slight accidental variations,) 100 of which compared to our 112, would be as 96 to 98, and thus make no material alteration in the Ton weight, which, if it consisted of 2000 lbs Avoirdupois, would be too small for the Tonnage of Ships, &c., whereas the Ton of 2000 lbs of 16 ounces Troy would be the same Ton as in Holland, Hambro*, he, , . In order to correspond with the following decimal divi- sions and calculations, the Pound (of 16 oz. Troy) to be divided thus : Grains 1000=1 Ounce 10000=1— • • —10 Pound jissay Gold and Silver to be represented. Fine ^by 1000 Standard 900 Money of Account I000=.£l Coins ^ ,, C 1000=1 Pound ^°^^^ 500=Half f 250= Crown _., 3l25=Half S^lv^^ \ 50 mil. . . . \^ 25 mil. . . . ^ C 5 mil. . . . Copper^ j^il^ , , ^ (Shilling) (Sixpence) (Penny) (Farthing) Coinage. 10 lb. Standard Gold to be coined into 651 Pounds 651 half pounds I 174 5 lb. Standard Silver to be coined into 84 Crowns half crowns -50 mil. •25 mil. being in proportion as 1 to 15 J which would establish the Mint prices of new Standard Coin — Gold Silver Per Ounce Troy . . £4 1 4j ..... £0 5 3 Decimal Ounce . 6 10 2,i, 8 41-^ The expense of Coinage is at present a Charge upon the public, but the Mint, receiving Bullion at the rate of the Coin, should deduct from the price a certain fixed rate for Coinage, to be regulated by a Tarif or Scale for every degree, from Fine to — The present mode of buying and selling Bullion, at a price Standard, is liable to much objection, the operation of reducing to standard Bars of various reports being most intricate and tedious ; the better mode would be to form a Scale for Gold and Silver from o£72,3333 for fine Gold, and from jLAsfQGQQ for fine Silver, and thus, for every degree worse, down to , below which it is sup- posed the seller should be at the expense of refining his Bullion before he could offer it for Sale. The Scale would be constructed thus — but more minute- ly, showing the price for every degree, from fine down- wards. Gold Silver 1 000—72,3333—4,6066 950— 68,7 1 67—4,4333 / 900—65, 1 000 — % 2000 }- 850— 61,4833— 3,9667 V 800—57,8667—3,7334 ) The market price of Bullion would be determined Pounds Per lb. of (16 Oun- ces Troy) 10000 Decimal Grains. 175 by Per Cent premium or discount on these prices, which would apply to every degree of fineness, than which nothing could be more simple. £63,100 in Gold Coin J would contain 7GS0 Troy Grains or > or— i 0000 Dec. Grains. £ 4,^200 in Silver Coin) and as the French Kilogramme Is equal to ISiSG Troy Gr. it would also be, nearly . . . ^20009 Dec. Gr. and as the Standard of French Coin is the same as that proposed, and that their established proportion between Gold and Silver is also 1 to 15^, and that 1 Kilogramme of Gold is coined into 155 — ^iO francs Pieces Fes v3 100 ] Kilogramme of Silver — into 40—5 francs J 200—1 franc 5 * this would establish the par of Exchange between England and France, at Francs 23,69225 nearly. Per Pound Ster- ling. Accounts would be greatly simplified, the Money of Account being divided into 1000 parts, instead of SiO and 12, whereby all calculations are rendered tedious and difficult, and by adopting a Quintal of 100 lbs., much tedious labor would be avoided, and greeiter accuracy ob- tained, with this advantage, that Goodf loid at Pounds Per Quintal would be a corresponding number of Ten Mils. Per lb. and vice versa. It must be obvious to every one who has had any experi- ence of Monies, Accounts, &c. by decimals, that they have the advantage of great dispatch and save much time, the benefit of which, in this great commercial Country, would be almost incalculable. There are various other points and arguments, political as well as commercial, on this subject, which are not how- 175 ■hi III