The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1866-11-27
THE POUND STERLING.

4 correspondent of the New York Journal OF
Commerce states the following as the data from
which to calculate the value OF pound sterling:
In England % ounces of pure gold are mixed
with ounces of alloy, this called % carats hne,
and is valued at 93 It's 10d, grains an ounce.
In the United States 80 ounces of pure gold
is mixed with 10 ounces Of alloy of no value -
100 ounces of coin is worth 81 500 46; an ounce
of coin is SIS 60.
One ounce of pure gold, 1000 fine, is coined
into $40 e. 1S-l00.
A sovereign of England (new) weighs dwts.
3 grains, (worn ones not SO much) and passes
for pound. -.
BY the above statement you may compute the
intrinsic value Of sovereign or round. BY the
help Of little arithmetic you will find that a
pound sterling is 81 SG-3 mills and "a little over.
Less than one hundred years since one Of the
States passed law that if any one owed %
shilngs be should be allowed to settle it with a
guinea, which was called FL shillings and
weighed dwts. 9 grains. 49,
Since then the British mint changed the coin
age, made sovereigns of 20 shilings.
81 sovereigns to go for 20 guineas. The 21
sovereigns contain more pure gold than 20
guneas by several shings value.
The United States (lS03) made eagles with
a cap the head weighing IL dwts grains,
Hip fine, at $40; they were then more valuable
than silver. In 1882 Congress made them a
tender for $40 IS, and made new coinage with
the hair curled, 9-l0 fne, which are the eagles
that people now talk about but do not often see.
And by the changes of the coinage Of two
nations you may see why pound was once
called S4.44, and 81 SLASH IS. New
pounds are worth 1876 3S-l0e, if not worn.
The habit is still to call the pound 81 Al. +,
and then add 81 per ceut.-which brings it up
to 81 IS for pound. BY this incongruity of
calling the pound one sum, and estimating it at
another the contradiction is presented, that ex-
is really ut par, when it is nominally at 81 per
cent premium in favor Of England.
EXILEs A letter from Mexico gives the
following information concerning ex-Confede
rates in Mexico:
"Among the ex-Confederates still remaining
in this country may be mentioned cx Governor
Thomas e. Reynolds, of Missouri, who is en-
gagged in the practice of law and he speaks
no less than four different languages, the Gov
ernor is driving very thrifty business. He
has also recently received the appointment Of
General Inspector of the Mexico and Chalco
railroad, representing the interest of the Gov
ernment in the same. General j. Shelby, Of
Missouri, has just arrived in this city He is at
present engaged in transportation between Vera
Cruz and the Capital. Major General j. B.
Magruder is also here, and says: "Tell my
friends that l am still proud as Lucfer, and de-
tying misfortune" The Generals family is al
SO here with him. Major Lawrence, Of Mis-
souri,, and Major Edwards Of the same State,
and Major George ". Clarke, of Texas, are all
here, none Of them are getting decidedly rich.
they are all making comfortable living, aud
have great expectations Generals Hudman
and Slauther are at Orizaba and n O. Green,
Esq, and General Price, and Judge Perkins,
and Gov, Harris are at Cordova"