New answers tagged

6

My Grandmother, who was a teacher, said that adults back then naturally thought in fractions and not decimals. You've got to consider there were no pocket calculators and for both mental arthritic and abacuses divisions in terms of ratios of natural numbers. Everything someone experienced growing up in those days: Measuring devices (no digital scales then, ...


6

Clearing dollars To understand why US dollar was reserve currency, you need to understand three things. One, US was definitely by far largest economy at the end of WW2. If you possessed US dollars, you could always trade them for US built goods which were plentiful. Consequently, traders across the world would also accept USD, effectively backing it up by ...


2

I was there. (1960s) It was not confusing. Divide one old pound by three is 6/8. (six shillings and eight pence.) Divide a modern pound or a dollar by three and... The same goes for multiplication. Three jam doughnuts at fourpence is instantly a shilling. Having distinctive coinage made things easier still. 7/6 is three half-crowns (Instant after nearly ...


1

Given the Soviet Union & the United States were engaged in a prolonged cold war where each tried to showcase the supremacy their political and economic systems, the two countries were in competition with each other. The both sought the demise of the other while trying to gain as much influence internationally. The US would not have backed the Soviet ...


5

The Ruble wasn't backed by anything except the Soviet State. There were 2 completely separate economies in place within the USSR, one based on Rubles, one based on whatever foreign currency was available to the central bank. Technically there was a 3rd, a "certificate Ruble" that could be exchanged for foreign currency, but that was only available ...


44

[Another] question quotes Terry Prattchett as: "The British resisted decimalized currency for a long time because they thought it was too complicated." Is this a fair comparison with its inference that British currency was significantly more complex than decimal currency? No. The quote is from Good Omens, by Terry Pratchett (not Prattchett) and ...


14

Here is a comparison chart with rough equivalences between coin values. I've matched coins at an approximate ratio of "1£ : $4" as covering both coin ranges and approximating the exchange rate of the time. s. / d.1 Pence Equiv. Coin / Note Name U.S. Value Cents Equiv. U.S. Coin 0 / ⅛ ⅛ d. Half-Farthing - - - 0 / ¼ ¼ d. Farthing $0, ½₵ ½₵ Half ...


Top 50 recent answers are included