The Press. — London, England, 1854-09-23 00:00:00

SEPTEMBER 23, 1854. peasantry to the sufferers seems to have been shameful, and may, perhaps, be accepted as presumptive proof of a conspiracy of several among them. But on this point we must re serve our opinion, as the case is under legal in vestigation, and we can only fervently hope that the vile perpetrators of a crime so infamously inhuman will before long receive condign punishment for their abominable wickedness. DECIMAL COINAGE. Ws had imagined that among commercial authori ties there was a general agreement that in any sys tem of decimal reckoning the pound should be taken as the unit of account, and that it should be divided into ten, one hundred, and one tnousand parts. It seems, however, that there are persons who entertain insuperable objections to the alteration of the penny, and a pamphlet just published by the late Mr. JAMES LAURIE, whose death occurred while he was superintending it through the press, strongly urges that a new coin, value tenpence, shall be established as the unit, and that our system should be brought as nearly as possible into accordance with that of France. At the same time we have before us Mr. DE MOROAN'S last-issued " Proceedings of the Decimal Association ;" and from these two pamphlets, urging all that can be said in favour of the respective sys tems they advocate, the public may form an accurate idea of the whole question, and comprehend the diffi culties which are opposed to an alteration one way or the other. Of the advantages which would attend a decimal system of accounts it is almost useless to speak. It would greatly facilitate the acquirement of arith metic, would simplify all its operations, and would effect in the counting-house of every merchant, and the shop of every trader, a very considerable saving in time and trouble. All computations of money would then be as plain as the processes of simple arithmetic, and the labour of turning farthings into pence, and pence into shillings, and shillings into pounds, would be entirely done away with. In the more complicated operations of business, the saving would be altogether incalculable. The Decimal Association, retaining the pound as the unit cf account, would divide it into tenths, for which the florin is ready prepared ; into hundredths, for which a new coin, to be called a cent, would be wanted; and into thousandths, or units, nearly equivalent in value to the farthing. Mr. de MORGAN states : " As an instance of the identity of simple and com pound arithmetical process, when divisions are solely into fens, let one pound sterling be 10 florins, let one florin be 10 cents, let one cent be 10 mils. Multiply together the numbers 793 and 438 in the common way— 793 438 6844 2379 8172 347334 " This is all the operation required in the following questions:— " If one yard cost 7 florins, 9 cents, 3 mils, how much do 438 yards cost? Answer, 3471. 3 !I. 3 ct. 4 m. " If a bankrupt estate pay 4 1 3 ct. 8 m. in the pound, what dividend will be paid on a debt of 791. 3 fl.? Answer, 341. 7 fl. 3 ct. 3 m. [and 4.10 th of a mil, for which there will be no coinage.]" But what then would become of the penny which enters so largely into all the monetary dealings of the poor? Its value must be altered before this decimal system could come into general use, for there are twenty-four pence to a florin, and were a cent and a mil to be added to our coinage, pence at their pre sent value could not be changed into one or the other. A cent, the tenth of a florin, would be over twopence farthing in value, and less than twopence halfpenny, while four mils would represent less than a penny, and five more. The difficulty is in superable; some change must be made in the penny if this system be adopted, and there must be an alteration to some extent in all those monetary con cerns into which the penny enters so largely, parti cularly as regards penny tolls and penny postage. Mr. Len= would retain the penny, and would make a tenpenny piece an unit of account. The pound would then consist of twenty-four of these new coins—of 240 pence, as at present, and of 2,400 mils. This system, whatever may be urged in its favour, is not a decimal system, nor would it greatly conduce to that simplification of accounts which is admitted to be so desirable. It is a strong argument for retaining the pound as the unit of account that it is our sole standard of value, and that all other coins are measured in rela tion to it:— " Its value, ( said Mr. Miller, one of the cashiers of the Baulk of England,) has now been fixed in the sovereign, as THE PRESS. certain weight of standard gold. All other coins derive their value from it, and it is well known all over the civi lised world as the English measure of value. At home, every estimate is made in ultimate relation to it, from the building of a ship to the construction of a wheelbarrow : all wages, from those of the highest functionary in the land, to those of the maid-of-all-work, are agreed for in pounds : all debts are recorded in it—all rentals and mortgages : all local rates and assessed taxes are levied upon the pound of yearly rental : all mercantile tables and calculations are founded upon it : and all exchange calcu- lations, both at home and abroad, as far as intercourse with this country is concerned." Moreover, the sovereign is a convenient size for gold circulation, and we concur in the opinicn that if, instead of expressing large sums—our gross an nual revenue, for example—by pounds, as 60,000,0001., we were to write 14,400,000,000 pence, or 1,440,000,000 tenpences, the difficulty would be greatly increased of comprehending the figures. It is with regret, therefore, that we view any attempt to disturb the conclusion arrived at by our soundest mercantila authorities that the pound should be taken as the basis of a decimal system. Mr. LAURIE'S objections seem to arise very greatly from his not clearly understanding the principle of the plan he criticises, and the details for carrying it out. It is proposed that the florin shall be made equivalent to twenty-five pence, the shilling to twelve pence halfpenny, and the sixpence to sixpence farthing. Were this change enacted there would be no obstacle to the immediate issue of the cent, the new coin proposed, which would then be equivalent to ten farthings, or twopence halfpenny. This new coin would be the only one positively required. We cannot think with Mr. LAURIE that this change would be detrimental to the classes whose dealings commonly take place in pence. They would receive, in fact, a halfpenny bonus on every shilling they changed, and, as many of the articles they buy would remain fixed in price, they would seem to be gainers by the change. The working man would still pur chase his penny loaf and penny cup of coffee, and pence would appear to go as far as ever in general purchases. The public would certainly be the gainers in many instances. They would receive twenty-five postage- stamps for two shillings instead of twenty four, and would probably, in a great majority of cases, pay no more for those articles and accommo dations which have heretofore been generally ex pressed by pence. How the change should be made up to public establishments would require some consideration. As regards the Post-office, Mr. RowLAND HILL con ceives that the change would be highly beneficial to the department, and he supposes that the difference of four per cent. which would be lost to the office in the first instance would very speedily be recovered. As regards tolls, railway fares, &e., an arrangement to keep up existing rates might be made without diffi culty. Mr. LAURIE, while laying great stress on the in convenience which would be caused by making the shilling to consist of twelvepence halfpenny, incon sistently makes elaborate calculations on the suppo sition that the penny will retain its existing value. Thus, in the subjoined extract, he proceeds on the supposition that the penny is to remain un altered : " The following few lines from a silk manufacturer's invoice will show the practice which obtains there [in France], and establish by contrast with a decimal currency having an integer of 11., that the latter would be altoge ther unfit for the purposes of trade, and would never be adopted by the mercantile community. Extract from French manufacturer's invoice : 581 ells at 56} " 551 " 56} " 56} " .. 2.60 .. Francs. 141.25 162.93.75 197.02.5 217.52.5 230.62.5 2.75 8.55 8.t45 4.10 Fr. 949.36.25 Equivalent at the exchange of 25 frs. to £37.9741500 The whole of the figures in the above extract (exclusive of the totals) are 60 in number, and the descending deci mals are added to show the whole extent of the calcula tion. We shall now take the same goods at their equiva lent values in a decimal currency on a baths of 11.:- 561 ells at .10416 .. ,C 5.88504 591 .1145083 .. 6.784616775 551 " .147916 .. 8.1427768• 661 " .160416 .. 9.063504 061 " .17078 .. 9.60525 £39.481186575 Every line in this calculation presents an interminable decimal ; the figures are 87 in number (without reference to the enormous number of figures required for ascer taining this latter calculation beyond the former), and not a single repeating figure is used." Now, the fact is that these figures are merely an illustration of the inconvenience of the present system, and apply in no degree to the decimal system it is proposed to establish. Assuming as Mr. I.Ariu E • Thim calculutiuu sPlr•arn to lir nlightly incurrert -55e ells at .14'.91:: Mould give iiti./ut43SB Making the total —En. 891 has done an exchange of twenty-five francs to the pound, the florin would be equivalent to 2f. 50c., the cent to 25c., and the mil to 2.5 French mils. The figures would then stand thus : Francs. Florins. Francs. Florins. 501 ells at 2.50 = 1 141.25 = 50.5 591 " 2.75 = 1.1 102.93,75 = 05.175 551 " 3.55 = 1.42 197.02.5 78.81 501 " 3.85 = 1.54 217.52.5 = 87.01 58} " 4.10 = 1.04 230.62.5 = 92.25 949.39:25 = 379.745 The totals in francs and florins are, it will be seen, exactly those which Mr. LAURIE arrives at in his first table, and any one may satisfy himself of the extreme simplicity of the process by which the equi valent values are obtained. In his second table Mr. LAURIE has furnished a conclusive argument in favour of the decimal system against which he con tends, by demonstrating the difficulty of the exist ing arrangements. The amount in florins may of course be expressed as 371. 9fl. 7c. 4 mils and 5 10ths cf a mil. No one could desire a better illustration than is here afforded of the beautiful simplicity of the proposed plan, and the great saving it would effect, particularly in exchanges, as compared with the cumbrous and unmanageable system we are obliged at present to pursue. The principle of the change proposed by the Decimal Association is as solid as a rock, and we advise it to bestow no thought on the devices of those ingenious gentlemen who, in their search for originality, perplex their minds till they cease to understand the question they set themselves to elucidate. The only point for consideration is, how the change may be most readily effected. The first step should be to call in the threepenny and fourpenny pieces, never of any real accom modation, and the second to issue a cental coinage, and to declare that the shilling should hence forth be equivalent to twelvepence halfpenny. We see no necessity whatever for a new copper coinage. The difference in its intrinsic worth—as a wide margin is left between its real and nominal value—would be of not the slightest consequence. Ten farthings would then be equivalent to the cent, 100 to the florin, and 1,000 to the sovereign. All the coins in circulation would be exchanked for each other, and the penny, still of the value of four farthings, or mils, might remain in general use until the new system bad taken such root in the country that the people ceased to require it. The trader would find no difficulty in keeping his accounts deci• mally, though he transacted a portion of his dealings in pence, and the public at large, we are firmly per suaded, would be rather benefited than otherwise by the florin representing twenty-five instead of twenty four pence, as it would appear rather that the former was appreciated, instead of the latter being depre ciated, in worth. The CHANCELLOR of the EXCHEQUER, it is true, holds out little hope that he will ever consent to the alteration. He requires not to be convinced of its expediency, but to have it recommended by a stout out-of-doors agitation. The change is not of that kind likely to be vehemently called for. If ever carried, it must be by men who have confidence in the soundness of their opinions, and who will be con tent to wait for grateful recognition of their labours until the benefit experienced from them is generally felt in the simplification of plain education, and in that saving of time on the part of the whole trading classes which, to them especially, is equivalent to a saving of money. NOT a soldier or sailor of the expedition to the Crimea but what has had good reason to drink the Sultan's health. As a parting present from the Ottoman Porte, some 500 hogsheads of rum were despatched to the fleet immediately before their departure from Varna, and the double allowance was heartily welcomed by the men in the midst cf the discomfort and bustle which they bad been under going for nearly forty or fifty hours. THE COMMON COUNCIL are again beset with com plaints of the insufficiency of London-bridge for the immense traffic seeking the Surrey side, and this winter session, either the proposed purchase of Southwark-bridge (which will need repair and strengthening in the roadway), or Mr. Bennoch's plan for pontine accommodation from Paul's wharf to Bankside, will be adopted of necessity. A new bridge, as proposed, could be thrown across for an amount between 200,0001. and 220,0001. IMMEDIATE CHANGES are to be effected in the ad ministration of the office of Judge Advocate. The scandal of a military tribunal, where the Judge Advocate occupies no position, where the military jury are without the assistance which the judge aflOrds in civil appeals, and where the commanding officer appears as a prosecutor when he is most, fre quently a party directly implicated in the trial, is to be put an end to. Competent judicial authority will be provided, and a public prosecutor will be appointed. .1