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A math problem from 1876

I was reading a math book from 1876 and I found this math problem. For me, I found it quite interesting, the last part that is.

M.S. Smith, Detroit Michigan, importer of watches, etc., received an invoice of 3 cases of Swiss watches, costing 22800 francs; duty 25%; cost of transportation 35 francs; commission to agent in Geneva 2 1/2%. What was the cost in greenbacks, gold being 112 1/2?

From appendix:

Value of Foreign Coins in U.S. Money (gold) as proclaimed by the Secretary of the Tresury January 1, 1875
Switzerland Franc G & S .19,3
Tom

Comments

  • FrattLawFrattLaw Posts: 3,290 ✭✭


    << <i>I was reading a math book from 1876 >>



    You must really get another hobby!

    image

    Otherwise -- interesting question. I doubt most kids now even know where Switzerland is, no less they make great watches.

    Michael
  • coppercoinscoppercoins Posts: 6,084 ✭✭✭
    No clue what the question is. I don't see where it can be answered with the information given. It doesn't tell you what 112 1/2 means...per ounce? per pound? It also doesn't tell you how to calculate Francs into dollars, from what I can read of their vague hints. The overall cost would be 29,105 SFr. How that calculates into dollars is a complete mystery.

    If their 19,3 means there are 19.3 SFr to a dollar, then the final answer should be $1,508.03 - but I have no idea how the 112 1/2 calculates into the equation.
    C. D. Daughtrey, NLG
    The Lincoln cent store:
    http://www.lincolncent.com

    My numismatic art work:
    http://www.cdaughtrey.com
    USAF veteran, 1986-1996 :: support our troops - the American way.
    image
  • tjkilliantjkillian Posts: 5,578 ✭✭✭


    << <i>No clue what the question is. I don't see where it can be answered with the information given. It doesn't tell you what 112 1/2 means...per ounce? per pound? It also doesn't tell you how to calculate Francs into dollars, from what I can read of their vague hints. The overall cost would be 29,105 SFr. How that calculates into dollars is a complete mystery. >>



    Ok, I shall help you. The interesting part is that a greenback did not equal gold, i.e. a $10 gold piece would cost $11.25 in paper. Next, the Swiss franc cost $0.193, in gold. The franc's value was tied to a gold dollar. Its value was dictated by the Secretary of the Tresury.


    Tom
    Tom

  • Ok I wasn't sure about the francs to dollars convertion. With that explaination I come up with $6319.43 in greenbacks
  • cladkingcladking Posts: 28,636 ✭✭✭✭✭
    Through most of the 19th century, I believe, the franc was pegged at 20c to the dollar.

    I wonder what the .7c discrepancy is.
    Tempus fugit.


  • << <i>

    << <i>I was reading a math book from 1876 >>



    You must really get another hobby!

    image

    Otherwise -- interesting question. I doubt most kids now even know where Switzerland is, no less they make great watches.

    Michael >>

    Of course they know about the watches!! Don't you know that there is a thriving black market in the public High Schools?!
    -George
    42/92
  • MacCrimmonMacCrimmon Posts: 7,058 ✭✭✭
    I'm assuming that greenbacks were discounted at 112.5 to 100. Meaning you received $88.89 in gold for $100 in greenbacks.

    So, I agree with Conder101's number.
  • I would have failed school back then.

    Cameron Kiefer
  • coppercoinscoppercoins Posts: 6,084 ✭✭✭
    What was the cost in greenbacks, gold being 112 1/2?

    So it assumed I would understand this jargon, which I didn't. No such thing exists today that I know of. The conversaion would have been simple if it had been at least somewhat explanatory as to what that statement was saying.
    C. D. Daughtrey, NLG
    The Lincoln cent store:
    http://www.lincolncent.com

    My numismatic art work:
    http://www.cdaughtrey.com
    USAF veteran, 1986-1996 :: support our troops - the American way.
    image
  • tjkilliantjkillian Posts: 5,578 ✭✭✭
    Condor101 got it right, congratulations. I just thought it was cool to learn that greenbacks (paper currency) did not have the same value as gold. I knew that during the war of northern agression paper was worth significantly less, but this was 11 years after the crushing defeat of those brave southern boys.

    Tom
    Tom

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