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FEDERAL MONEY.

68, Federal Money is the medium of exchange in the United States. Federal is derived from the Latin fœdus, a league; the money being used by states leagued or united under one government. Federal money consists of eagles, rep resented by E.; dollars, represented by $; dimes, by d.; cents, by cts., and mills by m.

Table of United States Currency, or Federal Money.

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69. As these denominate numbers increase and decrease like simple numbers, by a scale of tens, they are written as simple numbers are written, and operations are performed upon them as upon simple numbers, the dollar being regarded as the unit. The sign for dollar, $, is placed before any number which we wish to designate as representing United States currency.

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In business operations the denominations eagles and dimes are commonly disregarded, eagles being considered tens of dollars, and dimes, tens of cents; thus, the above illustration is read 89 dollars, 44 cents, 5 mills.

EXAMPLES.

70. Write the following:

1. Seven hundred sixty-four dollars eighteen cents four mills.

2. 972 dollars 17 cents 2 mills.

3. 5768 dollars 9 cents 2 mills.

4. 10 thousand dollars sixty cents. 5. 9 million dollars 9 mills.

Ans. $764 184.

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16. What is the largest number of cents contained in exam

ple 6?-7?-8?-9?-10?

1st Ans. 278,984 cts.

17. What is the largest number of dimes?

eagles?

of mills? of

1st Ans. 27,898 dimes.

18. Read examples 11 to 15, making cents the unit of numeration.

19. Reduce $86452. to cents; to mills.

Ans. 8,645,200 cents; 86,452,000 mills.

20. Reduce $9841.72 to mills.

21. Reduce 8712647 cents to dollars.

22. Reduce 3687514 mills to dollars.

How do you reduce dollars to cents? to mills?
How do you reduce mills to dollars? to cents?
How do you reduce cents to mills ?

23. $9843.621+ $4687.32 + $84.321+ $.07 + $.64 + $973.241 =?

Ans. $15,589.213.

NOTE. In addition and subtraction of Federal Money, dollars should be written under dollars, cents under cents, etc.

24. $3684.271 + $765.42 + $1763.417 + $8645.217 3.68=? Ans. $14,854.645. 25. From $8643.271 + $98367.489 take ($37.862 + $33695.41).

26. From $3471.009 $.71 take ($987.541 + $862.73). 27. From $4645. +$8178. take ($9827.- $6712.86).

28. $34865.002 × 46 =?

Ans. $1,603,790.092.

NOTE. In the example above, as mills are multiplied, the answer must be mills.

29. 11 X $3687.40 = ?

30. $946.918 X 478 = = ?

31. $98417.83 X 791 =?

32. 984 $7654216.69=?

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NOTE. It will be obvious that in the four following examples, the quotient must be of the same denomination as the dividend.

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105

90

150

144

60

54

60

In this example, after dividing the dollars, we have a remainder of 15 dollars; this we reduce to dimes by annexing a zero, and dividing, obtain 8 dimes for the quotient figure, and have a remainder of 6 dimes, which we reduce to cents and divide, and have a remainder of 6 cents, which we reduce to mills and divide, and have a remainder of 6 mills, and for the entire quotient, $95.833%. Ans.

54

6

NOTE. In the four following examples continue the division to mills.

37. Divide $9867. by 37; by 91; by 416.

38. Divide $89000. by 17; by 42; by 368. 39. Divide $36421.90 by 18; by 48.

40. Divide $6003489. by 96; by 543.

41. How many times are $.34 contained in $36.72?

42. How many times are $.25 contained in $645. ?

NOTE. In dividing Federal Money by Federal Money, when the denominations are unlike, it is necessary first to reduce the dividend and divisor to the same denomination. The answer will be an abstract number; thus, $645. $.25 64500 ÷ 25 = 2580.

43. Divide $186432.18 by $0.032. 44. Divide $382971.21 by $93.

45. Bought 1 pair of boots for $1.37; 1 pair for $1.65.; slippers for $.95; shoes for $.65; and shoes for $.82. Required the entire cost.

46. Bought a horse for $95.00; a wagon for $63.00, and harness for $15.00; kept them a week, paying $ 2.50 for board

for the horse, then sold them all for $175.00. Did I gain or lose, and how much?

47. What cost 8 pairs geese at $1.28 per pair?

48. Bought 2 dozen pigeons at $.85 per dozen, 2 dozen at $1.10 per dozen, and 1 dozen for $.90. What should I pay? 49. 8874 sheep were sold at $4.13 per head; what did they bring?

50. There were shipped to Great Britain in one year from New York, 20602243 pounds of butter. What would it bring at 15 cents per pound?

51. 39479897 pounds of cheese were shipped the same year. Required the receipts at 7 cents per pound?

52. 4778 beeves were sold in New York market in one week, averaging 874 lbs. apiece, at 7 cents per pound; what was received for them?

53. Bought 2 pieces of flannel, each containing 62 yards, for $39.68, and sold them for 40 cents per yard. What did I gain? 54. Paid a man $16.25 for 13 days' work; what was that a day?

55. Paid $5.10 for 17 boxes strawberries; what was that a box?

56. Among how many boys may $10 be distributed, that each may receive $0.625 ?

57. Sold 35 barrels Greenings at $1.75 per barrel, 17 barrels Baldwins at $1.80 per barrel, 12 barrels fall Harveys at $1.25 per barrel, and 25 of Russets at $2.25 per barrel. Paid 17 cents a barrel for picking, and $12.00 for transportation. What remained after all my bills were paid?

58. Paid $3.00 for 1 dozen apple trees, $3.36 for 1 dozen peach trees, $3.30 for one half dozen pear trees; what did I pay for the whole, and how much a piece for each kind?

59. Paid a carpenter for stock and work for a house, $450.75; for mason's work, $38.25; for digging and stoning cellar, $47.18; for painting, $40.00; to the plumber, $8.125. I then sold it, and lost, in so doing, $14.305; what did I sell it for? Ans. $570.

60. Bought a farm, containing 40 acres meadow and 17 woodland, for $2850.00. Sold to one man 10 acres woodland for $85.00 per a acre; to another a house lot of one acre for $90.00; and the remainder to a third for $2025.00. What did I gain by the operation; and for how much per acre did I sell the remainder? Ans. $115; $44.02.

BILLS.

73. When, in a business transaction, one person receives money, property, or services from another, he becomes indebted or is debtor for the amount he receives.

The person who parts with the money, property, or services, is credited for the amount he has given, and hence is called the creditor.

A written statement of the amount of the debt, with the items included, is called a bill, and is usually written in forms like those on the following pages.

When the creditor is paid the amount due, he acknowledges the receipt by his signature at the foot of the bill, after the words "Received payment." A bill thus signed is said to be receipted.

74. Find the cost of each article in the following bills, and their several amounts.

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