Metrication in the United Kingdom that reported in 1818, and again in Parliament by Sir John Wrottesley in 1824. Another Royal Commission was set up 1838 by Chancellor of the Exchequer Thomas Spring Rice and it reported in 1841 that decimal coinage was required first. A third commission in 1853 advocated decimal coinage in the form £1 : 10 florins : 100 cents: 1000 mils. The first florins (one tenth of a pound sterling) were struck in 1849 as silver coins weighing and having a diameter of . An early supporter of the "Decimal Association" was the mathematician Augustus de Morgan whose articles supporting the
Currency 5 khoums, while the Malagasy ariary is theoretically divided into 5 iraimbilanja. In these countries, words like "dollar" or "pound" "were simply names for given weights of gold." Due to inflation khoums and iraimbilanja have in practice fallen into disuse. (See non-decimal currencies for other historic currencies with non-decimal divisions.) Convertibility of a currency determines the ability of an individual, corporate or government to convert its local currency to another currency or vice versa with or without central bank/government intervention. Based on the above restrictions or free and readily conversion features, currencies are classified as: In economics, a local currency