Divisibility; that is, the quality in the monetary material that permits it to be divided easily into smaller amounts and then to be united again into larger masses at little cost and without loss in amount or in quality.

This quality is present only when the material is quite homogeneous throughout the whole mass, a condition fulfilled more completely by the metals than by any other goods.

This quality makes it possible to put the governmental stamp upon the money material, and to produce pieces, some of which are exact duplicates and some exact multiples, of others.

In this manner pieces of money are provided suitable for transactions of different magnitudes, down to small fractional amounts.

A monetary system of this kind aids greatly the development of the sense and habit of exact estimation of price.
Sec.3.