The Coinage Act of 1792 established the dime (spelled "disme" in the legislation), cent, and mill as subdivisions of the dollar equal to 1⁄10, 1⁄100 and 1⁄1000 dollar respectively.
The first known proposal for a decimal-based coinage system in the United States was made in 1783 by Thomas Jefferson, Benjamin Franklin, Alexander Hamilton, and David Rittenhouse. Hamilton, the nation's first Secretary of the Treasury, recommended the issuance of six such coins in 1791, in a report to Congress. Among the six was a silver coin, "which shall be, in weight and value, one tenth part of a silver unit or dollar".
released February 27, 2014