Captain Burton* gives a list of "the old Portuguese gold weights still preserved." They are used in gold mining. 2 Grains = 1 Vintem. 5 Vintens = 1 Tostão or Tustão. 32 Vintens = 1 Oitava ( 16 8 Oitavas = 1 Onça or Ounce. 8 Ounces = 1 Marco. 2 Marcos = 1 Pound." A slight discrepancy will be observed between this table and the preceding, as in the former 72 grãos make up the oitava, while in the latter 80 grains are specified. It may be that the grains are not the same as the grãos; but as to this I have no information. THE DECIMAL SYSTEM. The question as to whether England should introduce the decimal or metric system is one which is much debated. It is asserted that our present mode of reckoning is fragrantly unscientific. I cannot deal with the subject in detail, but may state that I consider the metre as a standard to be far too large. The foot is much more convenient. * "Highlands of Brazil," vol. i. p. 205. After a year's use of the metric system in Brazil, all my work being carried out thus, as the calculations, estimates, etc., had to be submitted to the Government, I do not consider that system a convenient one, especially for small quantities; but am of opinion that our duodecimal method has the advantage, both by facility of expression and simplicity in working. The ease with which vulgar fractions can be worked out mentally is an advantage which the decimal system does not possess. I have never yet met any one who could perform the same feats of mental arithmetic with decimals that can be executed by fractions. I was glad to find by the remarks of Sir Frederick Bramwell (President), at a meeting of the Institution of Civil Engineers (January, 1885), that he is in favour of our retaining our fractional system. As thus, my unworthy conclusions are endorsed by a man not only of the greatest experience, but possessed of a far-seeing, comprehensive, and scientific intellect. COINAGE AND CURRENCY. It may be asserted as a fact that the only coinage current in Brazil is copper. In Rio, the money consists of nickel tokens of one hundred reis and two hundred reis, some lately coined copper pieces value forty reis and twenty reis, and notes from five hundred reis upwards. Up country there is an abundance of the old copper eighty reis and forty reis pieces, issued in 1829, to which I shall refer later. Captain Burton remarks, "The older travellers were obliged to have a mule for the carriage of this Spartan coinage." It reminds one of the old time when Naaman "bound two talents of silver in two bags, upon two of his servants. and laid them 3 The coinage in circulation is as follows:-The old eighty reis and forty reis pieces of copper (1 inches and 1 inches in diameter), most of them overstamped with their present values of forty reis and twenty reis respectively; the neat modern forty reis and twenty reis pieces, about the size of our penny and halfpenny; nickel tokens of one hundred reis and two hundred reis (1 inches and 1 inches in diameter); and silver is represented * 2 Kings v. 23. I 16 by two hundred reis and five hundred reis pieces, about the dimensions and weight of our sixpence and shilling. Of these latter, during the whole time I was in Brazil, I only possessed eight of the two hundred reis and three of the five hundred reis coins, which I preserved as curiosities. I have also seen one milreis and one two-milreis in silver, but only one of each, which were kept by the possessor as something extraordinary. The paper notes range from five hundred reis to five hundred milreis (five hundred reis, 1 milreis, 2, 5, 10, 20, 25, 30, 50, 100, 200 milreis, etc.). The filth of these greasy notes, as a rule, up to ten milreis, defies description. The Government and the Bank of Brazil, which issues its own notes, are constantly calling in the older issues; series so and so, or estampa so and so, green paper, white paper, etc. If the notes be not presented by a certain time, five per cent., or ten per cent., or more, is deducted from their value, and after a given period they are valueless. Money matters are consequently very complicated, especially up country, where one may never hear of the proposed call until it is time to send the notes in. I suffered much inconvenience in paying my men, owing to this abominable practice, a method which has been set to work to add to the coffers of an impecunious treasury. This paper currency is not redeemable, any one going to the bank or to the treasury with a bagful of notes to realize being presented with freshly issued notes. The nomenclature of the money is different up country to what it is in Rio. The 40-reis pieces, new and old, are termed "cobres," coppers. The "pataca" is also a very common name; its value is 320 reis. Every small sum is there counted by cobres, patacas, or testões (a testaõ is 100 reis). The milreis is often called "deztões" (i.e. ten testoons). In Rio, small sums are often reckoned by vintens (a vintem is 20 reis). Mr. John Armitage, in his "History of Brazil," refers to the depreciation of coinage in 1829, and "the enormous issue of copper" (which coins, as I have stated, form the bulk of the currency up country). He says, "This copper was, even in 1829, * "The History of Brazil from 1808 to 1831,” 2 vols. Smith, Elder, and Co., 1836. current to any amount at three times its intrinsic value, and was freely circulated in all the various provinces of the empire. The inhabitants looked only to the amount stamped on the coin, without reflecting that if melted down it would not be worth a third of the sum for which they received it. Of course, it was impossible that the deception could be carried on for ever, yet it was an expedient for helping tde Government out of their existing difficulties. During the years 1828 and 1829, nearly six thousand contos (¿.e. six millions of milreis) of this base copper were coined and thrown into circulation." The Government was then in difficulties, and it has never been otherwise. It is in vain for interested persons to contend against facts, and state that Brazil is increasing in prosperity. The expenditure fifty-five years ago exceeded the revenue-it does so to-day; and new loans are continually floated, externally and internally, to pay the interest on former liabilities, and on guaranteed undertakings, such as railways, sugar factories, etc. The value of the milreis is steadily decreasing. When I arrived at Rio de Janeiro in June, 1883, I exchanged at 213d. to the milreis; about January, 1884, it reached 221d. for a short time; but in June and July, it was down to 20d.; on April 26, 1885, it was 179d. "Travellers assure us that in 1801 this (milreis), the practical unit of value, was worth 5s. 7d. In 1815 it represented six francs twenty-five centimes. In 1835-36 it was from 30d. to 32d." Gardner states that in 1838 it was 30d. Captain Burton says, "When I landed at Pernambuco (June, 1865) it was at par-27d. It has in 1867 fallen to 13 d. [that was owing to the Paraguayan War]; and under actual circumstances there is apparently nothing to prevent it sinking, like the dollar of the South American republics, to twopence.' "* Mr. H. W. Bates states that the current money on the Amazons varied much during the eleven years of his stay. "At first, nothing but copper coins and Brazilian treasury notes, the smallest representing one thousand reis (2s. 3d.), were seen. Afterwards (1852-56), with the increase of the india-rubber trade, a large amount of specie was imported-American gold coins, Spanish and Mexican dollars, Captain Burton's "Highlands of Brazil,” vol. i. p. 91. t "The Naturalist on the River Amazons," vol. ii. p. 75. and English sovereigns. These were the commonest medium of exchange in Para and on the Lower Amazons, until india-rubber fell suddenly in price in 1855, when the gold again quickly disappeared. About the year 1857, new silver coin, issued by the Brazilian Government, was introduced-elegant pieces of money of convenient values, answering nearly to our sixpenny, shilling, and two-shilling pieces." THE FINANCIAL CONDITION OF BRAZIL. In reading statistics of foreign moneys there is always the difficulty of realizing at a glance what the sums represent in English currency. In Brazilian money this difficulty may be reduced to a minimum by taking the milreis ($) at 24d., so that the English equivalent in pounds sterling will be approximately one-tenth of the amount in milreis. The few remarks which I wish to make on this subject I will defer till the end of the note, and therefore, without further preamble, plunge at once in medias res, and give some extracts from a pamphlet, "On the Budget of the Empire since its Foundation," published in Rio by a senator.* In his preface, he states that 'an estimate is the fundamental basis of the life of man and of nations; without order in the regulation of expenses, confusion will be inevitable, and these will not be in harmony with the income. The first care, therefore, in arranging the budget is to attend to the receipts, and then distribute the expenses. . . . Unfortunately, this is not the course followed since the foundation of the empire, which, in spite of not having received the value of heavy sacrifices of life and money, has-ignoring these-caused extraordinary expenses, which not only weigh down the budgets, as also the future of the nation, but necessitate stretching out the hand of a creditor to fulfil its engagements. I shall examine into the truth of the budgets, so often praised in the ministerial programmes, and always tricked (burlada) in their realization.” After briefly reviewing the financial conditions of England, the United States, France, and Russia, Senhor Carreira comes to Brazil. In his comparison of estimates, the value of the milreis is * "O Orçamento do Imperio desde sua fundação,” colleccionada pelo Senador Liberato de Castro Carreira. Rio de Janeiro, 1883. |