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Decimalisation
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==== North America ==== ===== United States ===== Decimalisation was introduced into the [[Thirteen Colonies]] by the [[American Revolution]], and then enshrined in US law by the [[Coinage Act of 1792]]. ===== Canada ===== Decimalisation in Canada was complicated by the different jurisdictions before Confederation in 1867. In 1841, the united [[Province of Canada]]'s Governor General, [[Charles Poulett Thomson, 1st Baron Sydenham|Lord Sydenham]], argued for establishment of a bank that would issue dollar currency (the [[Canadian dollar]]). [[Francis Hincks]], who would become the Province of Canada's Prime Minister in 1851, favoured the plan. Ultimately the provincial assembly rejected the proposal.<ref>McCulloch, A. B. "Currency Conversion in British North America, 1760β1900". ''Archivaria'' 16, (Summer 1983): 83β94.</ref> In June 1851, the Canadian legislature passed a law requiring provincial accounts to be kept decimalised as dollars and cents. The establishment of a [[Bank of Canada|central bank]] was not touched upon in the 1851 legislation. The British government delayed the implementation of the currency change on a technicality, wishing to distinguish the Canadian currency from the United States' currency by referencing the units as "Royals" rather than "Dollars".<ref name="Canadian Mint 2003">Canadian Mint. "Currency Reforms, 1841β71". ''A History of the Canadian Dollar''. Ottawa: Canadian Mint, 2003.</ref> The British delay was overcome by the Currency Act of 1 August 1854. In 1858, coins denominated in cents and imprinted with "Canada" were issued for the first time. Decimalisation occurred in:<ref name="Canadian Mint 2003"/> {| class="wikitable" border="1" |- ! ! Date ! Notes |- | [[Province of Canada]] | 1 August 1854 | |- | Nova Scotia | 1 July 1860 | Ordered its first coinage in 1860, but the coins were not shipped by the Royal Mint until 1862 |- | New Brunswick | 1 November 1860 | Like Nova Scotia, the coins were received in 1862 |- | Newfoundland | 1866 | Took effect in early 1865 and had different coinage from 1865 to 1947 |- | Vancouver Island | 1863 | |- | British Columbia | 1865 | |- | Manitoba | 1870 | |- | Prince Edward Island | 1871 | |} The colonial elite, the main advocates of decimalisation, based their case on two main arguments.<ref>Mushin, Jerry. "Twentieth Century Currency Reforms: A Comment". ''Kyklos'' 50 (1997): 247β249.</ref> The first was for facilitation of trade and economic ties with the United States, the colonies' largest trading partner; the second was to simplify calculations and reduce accounting errors.<ref>W. T. Easterbrook and Hugh G. J. Aitken, ''Canadian Economic History'' (Toronto: University of Toronto Press, 1988), 381.</ref> ===== Mexico ===== The [[Mexican peso]] was formally decimalised in the 1860s with the introduction of coins denominated in centavos; however, the currency did not fully decimalise in practice immediately and pre-decimal reales were issued until 1897. ===== Bermuda ===== Bermuda decimalised in 1970, by introducing the [[Bermudian dollar]] equal to 8 shillings 4 pence (100 pence, effectively equal to the US dollar under the [[Bretton Woods system]]).
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