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Harper's Encyclopedia of United States History (ed. Benson Lossing), Coinage , United States (search)
Harper's Encyclopedia of United States History (ed. Benson Lossing), Constitution of the United States (search)
Harper's Encyclopedia of United States History (ed. Benson Lossing), Decimal system. (search)
Decimal system.
In 1782, Gouverneur Morris, assistant fiscal agent of the Continental Congress, reported a decimal currency system, designed to harmonize the moneys of the States.
He ascertained that the 1,440th part of a Spanish dollar was a common divisor for the various currencies.
With this as a unit he proposed the following table of moneys: 10 units to be equal to 1 penny, 10 pence to 1 bill, 10 bills 1 dollar (about 75 cents of the present currency), 10 dollars 1 crown.
In 1784, Mr. Jefferson, as chairman of a committee of Congress, proposed to strike four coins upon the basis of the Spanish dollar, as follows: A gold piece worth 10 dollars, a dollar in silver, a 10th of a dollar in silver, a 100th of a dollar in copper.
Congress adopted his proposition, hence the cent, dime, dollar, and eagle of the United States currency.
See metric system.
Harper's Encyclopedia of United States History (ed. Benson Lossing), Depew , Chauncey Mitchell , 1834 - (search)
Harper's Encyclopedia of United States History (ed. Benson Lossing), Federal convention, the. (search)
Harper's Encyclopedia of United States History (ed. Benson Lossing), Ingersoll , Robert Green 1833 - (search)
Harper's Encyclopedia of United States History (ed. Benson Lossing), Jefferson , Thomas 1743 - (search)