Front Page Titles (by Subject) Nickel. - Money and the Mechanism of Exchange
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Nickel. - William Stanley Jevons, Money and the Mechanism of Exchange 
Money and the Mechanism of Exchange (New York: D. Appleton and Co. 1876).
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This metal was formerly regarded as the bane of the metallurgist, but has recently assumed an important place in manufacturing industry, and even in monetary science. It is used only in alloy with other metals, and for the purposes of coinage it is usual to melt up one part of nickel with three of copper. Some of the coins of Belgium, and the one-cent pieces of the United States have been made of this material and seem to be very convenient. In 1869 and 1870-1, pence and halfpence, to the value of £3000, were executed in the same alloy, at the English mint, for the colony of Jamaica. These are some of the most beautiful coins which have ever been issued from Tower Hill, and are in most respects admirably suited for circulation. But they were unfortunately made much too large and heavy; not only were they thus rendered less convenient, but when in 1873, the Deputy Master of the Mint was requested to supply a further quantity of the same coins, he found that the price of nickel had risen very much, so that the materials for the coinage alone would cost more than the nominal value of the coins to be produced. This rise in price was due partly to the small number of nickel mines yet worked, and partly to the great demand for the metal occasioned by the German government, which has chosen the same alloy for the ten and five-pfennig pieces of its new monetary system. These coins, which are now being issued, are of a convenient size, rather less than a shilling and sixpence respectively, and appear to be in every way admirably suited to their purpose. The German empire will soon possess the best instead of the worst fractional currency in the world. The variableness in the price of nickel, which is at present a cause of embarrassment, may after a time become less serious, when the stock in use and the annual produce become larger.