Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1891-07-23
UNITED STATES CURRENCY.
Who Originated the Decimal System /


Who Originated the Decimal System in
This Country.
Thomas Jefferson is generally credit
ed with being the author of our decimal
system of currency, but Benson ]. Los
sing, one Of the most prominent and
trustworthy of American historians. that
the honor of suggesting it belongs par
tally to Gouveneur Morris. In 17S2, when
the subject was first preached, Robert
Morris and Gouveneur Morris held re-
spectively the offices Of superintendent
of finance and assistant financier. On
February 81 of that year the former
was authorized by congress to prepare
plan for establishing and conducting
national mint, and the latter gentle
man was intrusted with the task. He
labored earnestly in an attempt to har-
monte the mixed currency of the vari-
GUS states, and found that the fourteen
hundred and fortieth part of a Spanish
dollar was a common divisor of these
various currencies- Taking this as
basis, he proposed the following table
of United States money:
Ten units to equal one penny; ten
pennies to equal one bill; ten bills to
equal one dollar (about seventv-fve
cents at the present time), and ten dol
lars to equal one crown.
Recognizing the fact the word Grown"
would prove distasteful to Americans
he explained in his report that the coin
would bear the figure of an Indian.
with bow in his left hand, thirteen ar
rows in his right, and a crown resting
under his right foot. Congress debated
his suggestions for long time. but
never took any definite action upon
them.
Two years later Thomas jefferson,
who was chairman of a committee ap-
pointed to take charge of the formula
ton of money standard, did not agree
with Gouveneur Morris plan, except in
so far as the decimal system was con-
cerned He contended that the unit
selected by that gentleman would cause
a good deal of confusion and trouble in
computation, and suggested that four
coins should be struck on the basis of
the Spanish dollar. These were: A ten
dollar gold piece, a silver dollar, a
silver dime and n copper piece worth
the one-hundredth part of a dollar, or
one cent.
Congress adopted this report and
passed a resolution on July of that
year to the effect that the money unit
of this country should be one dollar;
that the smallest coin should be of
copper, of which two hundred should
pass for dollar (the half cent; and
''that the several pieces shall increase
in decimal ratio" In 1856 provision
was made for n coinage on Jefferson's
basis, but no specific action was taken
until 1870, when that gentleman-then
occupying the position of secretary of
state-urged the necessity of national
coinage. 1t was not until 1892, how
ever, that laws were enacted establish
ing the mint at Philadelphia, which
was not put into full operation until
January, 1895.
During this interval many silver and
copper coins were tried, and it is for
that reason that quite a number of
them issued at that time are now quoted
by collectors and dealers at fancy
figures.
1t can be seen by the foregoing that
the distinction of founding the decimal
currency system belongs to both
Gouveneur Morris and Thomas Jeffer.
former suggesting it and the
latter regulating it.