Page:Memoir, correspondence, and miscellanies, from the papers of Thomas Jefferson - Volume 1.djvu/158

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of course less accommodated to their comprehension and habits than the dollar. Indeed the probability is, that they could never be led to compute in it generally.

The Financier supposes that the 1-100 of a dollar is not suffi- ciently small, where the poor are purchasers or vendors. _ If it is not, make a smaller coin. But I suspect that it is small enough. Let us examine facts, in countries where we are acquainted with them. In Virginia, where our towns are few, small, and of course their demand for necessaries very limited, we have never yet been able to introduce a copper coin at all. ‘The smallest coin which any body will receive there, is the half-bit, or 1-20 of a dollar. In those states where the towns are larger and more populous, a more habitual barter for small wants, has called for a copper coin of 1-90 or 1-96 or 1-108 of a dollar. In England, where the towns are many and populous, and where ages of experience have ma- tured the conveniences of intercourse, they have found that some wants may be supplied for a farthing, or 1-208 of a dollar, and they have accommodated a coin to this want. 'This business is evidently progressive. In Virginia, we are far behind. In some other states, they are further advanced, to wit, to the appreciation of 1-90, 1-96, 1-108 of a dollar. ‘To this most advanced state, then, I accommodated my smallest coin in the decimal arrangement, as a money of payment, corresponding with the money of account. I have no doubt the time will come when a smaller coin will be called for. _When that comes, let it be made. It will probably be the half of the copper I propose, that is to say 5-1000 or .005 of a dollar, this bemg very nearly the farthing of England. But it will be time enough to make it, when the people shall be ready to receive it.

My proposition then, is, that our notation of money shall be de- cimal, descending ad libitum of the person noting ; that the Unit of this notation shall be a Dollar; that coins shall be accommoda- ted to it from ten dollars to the hundreth of a dollar ; and that, to set this on foot, the resolutions be adopted which were proposed in the notes, only substituting an enquiry ito the fineness of the coms in lieu of an assay of them.

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[Note G.]

I have sometimes asked myself, whether my country is the better for my having lived at all? I do not know that itis. Ihave been the instrument of doing the following things; but they would have been done by others ; some of them, perhaps, a little better.