I read in the news that The Royal Canadian Mint will stop circulating pennies as of Feb. 4, 2013 but the one-cent coins “will retain its value indefinitely.” The government said that the production cost is a lot higher than the value of the coin so stopping the production would save a lot of tax payers' money.
I guess the coin would still be in circulation and will retain its value. However, if in the future there will be a shortage of pennies, would they be rounding off prices to make transactions a bit more convenient? For example, would a meal that should cost $7.23 would be rounded off to $7.25?
One of the most moving speeches that I've read. During grade school, this was the most often recited elocution piece in my school. Here it is, the text of Raul Manglapus' Land of Bondage, Land of the Free. Land of Bondage, Land of the Free By Raul Manglapus And yet, ladies and gentlemen, the tao is constitutionally free! No wonder, then, that the tao being a slave has acquired the habits of a slave. No wonder that after three centuries in chains, without freedom, without hope, he should lose the erect and fearless posture of a freeman, and become the bent, misshapen, indolent, vicious, pitiful thing that he is! Who dares accuse him now? Who dares rise up in judgement against this man, reduced to this subhuman level by three centuries of oppession? Ladies and gentlemen the tao does not come here tonight to be judged -- but to judge! Hear then his accusation and his sentence: I indict the Spanish encomendero for inventing taxes impossible to pay! I indict the usurer for s...
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