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TRIVIA: Authorized by US Congress. but never struck...
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<p>[QUOTE="Conder101, post: 1020123, member: 66"]The Mille was authorized for use as a MONEY OF ACCOUNT. It was never authorized as a coin. They were just stating that the government books would be kept accurate down to a tenth of a cent. A money of account is quite often a theorectical curreny that does not exist in physical form. During the pre-federal era each of the states kept their books in defined units of a money of account even though they issued no such money and used a potpouri of different forms of money in actual commerce. These different forms of money would be "converted" on paper using what ever the current exchange rate was and then entered into the books using the official money of account. Because of all the different currencies the accounts typically would not come out to even cents so this law required the keeping of the records to the tenth of a cent.[/QUOTE]</p><p><br /></p>
[QUOTE="Conder101, post: 1020123, member: 66"]The Mille was authorized for use as a MONEY OF ACCOUNT. It was never authorized as a coin. They were just stating that the government books would be kept accurate down to a tenth of a cent. A money of account is quite often a theorectical curreny that does not exist in physical form. During the pre-federal era each of the states kept their books in defined units of a money of account even though they issued no such money and used a potpouri of different forms of money in actual commerce. These different forms of money would be "converted" on paper using what ever the current exchange rate was and then entered into the books using the official money of account. Because of all the different currencies the accounts typically would not come out to even cents so this law required the keeping of the records to the tenth of a cent.[/QUOTE]
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TRIVIA: Authorized by US Congress. but never struck...
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