Note XXXIII-17 — Chapter XXXIII · COMMERCE AND FINANCE. 1801-1887.
Reading edition
In former times there was the ounce of $16 and its subdivisions, and the silver peso with its subdivisions down to medio real, or 6¼ cents. Most of the silver coin in circulation was the macuquina or cut, which was a nuisance. The government in 1873 ordered it retired, which was in the course of time done. The system established in the law of 1870 found favor with the people as regarded gold coin. Not so with silver; the public clinging to the old denominations, and refusing to accept base metals which this law had also provided for.