date

3 Aug. 1801 Eden Simple Computation
3 Aug. 1801

Eden

Simple Computation

6

76

In France, besides silver money more various than ours, (viz. Crowns, Half

Crowns, Shillings, sixpences, and threepences) I remember having, in inferior

money, five different pieces in my pocket at the same time: Penny pieces,

three-farthing-pieces, halfpenny pieces, farthing pieces and half-farthing

pieces. These were embarassments – not mounted upon a great mass attended with

no embarassment (as in the case of the shillings pence and farthings for

interest mounted upon a principal of 12:16ss) but composing frequently the whole

of the sum to be transferred on each occasion from hand to hand – transferred –

and made up out of such elements by computation – among the poorest and most

illiterate of the people.

In America, the silver paper monies, circulating under a continually varying

discount, as compared with silver metal monies of the same denominations, must

in their mixture with these undepretiated monies, have given rise, to

computations, attended I should think with every degree of intricacy that can be

ascribed to the proposed Annuity Notes.
Similar Items
  • Title: [3 Aug. 1801 Eden Simple Computation]
    Description: 3 Aug. 1801

    Eden

    Simple Computation

    5

    75

    Oh, but the sums there to be added will be uneven sums. – Be it so? – But is

    there any such insurmountable difficulty in the addition of uneven sums, or of

    pieces of money passing for uneven sums? Is there any the poorest day-labourer,

    who has not occasion to make such additions frequently – not to say continually:

    especially additions by which farthings are converted into pence, and pence into

    shillings which are the conversions most frequently occurring to such

    accountants, and attended with the most embarassment.

    Neither a guinea, nor a half-guinea nor a 7s piece are for perfectly even sums

    familiar as they are to us. Along with these (excepting the 7s piece) I remember

    as well as with one another remember the 36s – the 27s piece, the 18s piece the

    9s and (I believe) the 5:3d: and I know of no inconvenience that the variety was

    ever attended with. In the case of those foreign pieces, there may have been a

    little difficulty – now and then – to some people at least – in the making out

    the value of them by their looks: there could be no such difficulty in regard to

    Annuity Notes, since, besides their looks, which by which the principal sums are

    distinguished, the value by interest for each day stands opposite the Day in the

    Table.
  • Title: [3 Aug. 1801 Eden Simple Computation]
    Description: 3 Aug. 1801

    Eden

    Simple Computation

    8

    78

    five half pence to it. Without the note, the very simplest possible mode of

    making up the sum would be by twelve guineas and eight shillings: and in

    proportion as guineas and shillings were deficient, the computation would

    increase in intricacy. How much greater the advantage in point of simplicity, if

    the sum requisite to be paid happens to be the exact amount of the Annuity Note?

    a supposition that will as frequently be verified, as that of any other given

    sum approaching to the mark – such as, in the case of the £12:16s Annuity Note,

    the above supposed sum of £13.
  • Title: [3 Aug. 1801 Eden Simple Computation]
    Description: 3 Aug. 1801

    Eden

    Simple Computation

    7

    77

    In France again, how much greater embarassment must there not have been, when

    Assignats – but more particularly when Assignats and Mandate bills – were in

    circulation, under degrees of deportation varying almost from day to day. This

    currency came in no short space of time, to an end: - true: - but from what

    cause? – not from the embarassment attending the computations – (this is pretty

    well established by the example given already -) but from the worthlessness –

    the absolute worthlessness of the security.

    In a word – uneven sums, in all their varieties, came to be paid. Where is the

    great inconvenience in having moneys in a correspondent degree of variety for

    paying them? – By the addition of interest to principal, if, in some instances,

    computations will require to be made, more than would have to be made otherwise,

    in other instances they will be saved. - In the case supposed by the learned

    Baronet – the case of a £12:16s note, raised by a half-year’s interest from that

    value to £12:19:9½, suppose £13 to be the sum to be paid: - With this note,

    principal and interest together, the sum will be made up, by adding

    five