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It was remarkable how easily and quickly one circulating medium disappeared and another took its place. At first there was some trouble about getting the poor people to recognize the copper on a basis of a hundred to a peso. They were willing enough to receive change on that basis, but, in giving it, tried to treat the new centavo as a dacold, eighty to the peso.
Theoretically a peso was a hundred cents, as a peseta was twenty cents, but there was no cent with which to make change. You accepted the dacold at its value of eighty to a peso, or you transacted no business. The Filipinos also had a way of figuring a medio-peso as cuatro reales, thus giving the real a value of twelve and a half cents, though there was no coin called a real.
The lady assured him that the new money was the same metal used in the old "dacold" and that in time it would become as dark and ugly, but his Filipino habit of relying on his own eyes was in full command of him. The man thought that I had got hold of gold without knowing it, and supposed that he was getting the best of me.
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