Mill (currency)
The mill or mille (₥) (sometimes mil in the UK, when discussing property taxes in the United States, or previously in Cyprus and Malta) is a now-abstract unit of currency used sometimes in accounting. In the United States, it is a notional unit equivalent to 1⁄1000 of a United States dollar (a tenth of a cent). In the United Kingdom it was proposed during the decades of discussion on the decimalization of the pound as a 1⁄1000 division of the pound sterling. Several other currencies used the mill, such as the Maltese lira.
The term comes from the Latin "millesimum", meaning "thousandth part".
Read more about Mill (currency): Similar Units
Famous quotes containing the word mill:
“Mathematics may be compared to a mill of exquisite workmanship, which grinds your stuff to any degree of fineness; but, nevertheless, what you get out depends on what you put in; and as the grandest mill in the world will not extract wheat flour from peascods, so pages of formulae will not get a definite result out of loose data.”
—Thomas Henry Huxley (1825–1895)