EXAMPLES.

(13) A merchant in Rotterdam remits 5641. 10s. 6d. Flemish, to be paid in London. How much sterling money must he draw for, exchange at 34s. 4d. per £. sterling?

(14) Suppose a merchant delivers in London 328l. 16s. 114d. to receive the value at Amsterdam in Flemish money; how many pounds must he receive there, the exchange at 34s. 4d. Flemish per L. sterling.

(15) What may I draw my bill for on London, if I pay in Antwerp 4200 guilders, 12 stivers, 8 pennings, exchange at 33s. 3d. Flemish per L. sterling?

(16) If I pay in London 4211. 2s. 3d. how many guilders may I draw my bill for at Antwerp, exchange at 33s. 3d. Flemish per £. sterling?

(17) Exchange 242l. 13s. 6d. Flemish into guilders, stivers,

&c.

6th. To change CURRENT MONEY into BANCO.

RULE.

As 100 with the agio added to it: is to 100 banco :: so is

any given sum current: to the banco required.

EXAMPLE.

(18) Change 495 guilders, 18 stivers current, into banco florins, agio 5 per cent.

2. To change banco into current money.

RULE.

As 100 guineas banco: is to 100 with the agio added to it:: so is the banco given to the current required.

EXAMPLE.

(19) Change 470 guilders, 8 stivers banco, into current, agio

at 5 per cent.

Note. The bank money is worth more than the current: their difference is called agio, and is from three to six per cent. in favour of the bank.

7th. With VENICE.

Money of exchange here is always understood to be that of ducats in bank, which is imaginary, 100 of which make 120 ducats current money; so that the difference betwixt bank and current money is an agio of 20 per cent. though the brokers have invented another agio to be added, which is more or less according to bargain.

The course of exchange of a ducat of the bank of Venice is from 45d. to 50d. sterling.

EXAMPLE.

(20) Venice draws on London for 420 ducats, 10 sols, 8 den. banco, exchange at 47 per ducat. How much sterling will pay the draft?

8th. With POLAND and PRUSSIA.

Dantzic and Konigsberg exchange with London by way of Amsterdam and Hamburgh; 270 Polish grosh being = 11. gross banco in Holland; 110 Polish grosh being = 1 rix-dollar, banco of Hamburg.

(21) Change 4684 florins into sterling money, 270 groshi Poli, per pound Flemish, and 34s. 4d. Flemish per L. sterling.

(22) Change 390l. sterling into florins, the exchange being 33s. 4d. Flemish per L. sterling, and 270 groshi Poli per £. Flemish.

The Russian rubles are converted into florins, current money of Amsterdam, and the current into bank money, according to the agio of three or five per cent. and bank money into sterling, according to the course of exchange between England and Amsterdam.

EXAMPLE.

(23) In 6420 rubles, 42 copecs, exchange 122 copecs per rix-dollar current, agio 3 per cent. and 34s. 6d. Flemish, per £. sterling, how much sterling money?

10th. With IRELAND.

In Ireland they keep their accounts in L. s. and d. Irish, divided as in England; but having no coins of their own, they are supplied by the different countries with which they traffic.

The par of exchange between England and Ireland is 100l. sterling for 108l. 6s. 8d. Irish, or 1s. English = 13d.

The course of exchange is from 5 to 12 per cent. according to the balance of trade.

EXAMPLES.

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(24) Dublin draws upon London for 740l. 14s. 6d. Irish, exchange at 12 per cent. How much sterling must London pay Dublin to discharge this bill?

(25) London remits to Ireland 6511. 148. 11 d. sterling, How much Irish must London be credited, exchange at 12 per cent. ?

11th. With AMERICA and the WEST INDIES.

In exchange with our colonies in America and the West Indies, accounts are kept, and the money divided as in Eng-. land: their money is called currency.

The scarcity of cash obliges them to substitute a papercurrency for carrying on their trade; which, being subject to casualties, suffers a very great discount for sterling, in the purchase of bills of exchange.

EXAMPLES.

(26) Philadelphia is indebted to London 14741. 16s. currency. What sterling may London reckon to be remitted when the exchange is 64 per cent.?

(27) London receives a bill of exchange from Philadelphia, for 9431. 178. 54d. sterling. For how much currency was London indebted, exchange being at 64 per cent.?

(28) London consigns to Jamaica goods, per invoice, amounting to 640l. 16s. 9d. which are sold for 9871. 12s. currency. What sterling ought the factor to remit, deducting 5 per cent. for commission and charges, and what does London gain per cent. upon the adventure, suppose the exchange at 30 per cent.?

(29) Jamaica is indebted to London 1470l. 12s. 8d. sterling. With how much currency will London be credited at Jamaica, when the exchange is 136 per cent.?

A few EXAMPLES for Exercise.

(30) Amsterdam changes on London at 34s. 4d. per L. sterling, and on Lisbon at 52d. Flemish, for 400 rees. How then ought the exchange to go between London and Lisbon?

(31) A. at Paris draws on B. of London 1200 crowns, at 55d. sterling per crown; for the value whereof, B. draws again on A. 56d, sterling per crown, besides commission per cent. Did A. get or lose by this transaction, and what?

(32) V. of Amsterdam draws on X. of Hamburg, at 67d. Flem. per dollar, of 32 sols Lubeck; and on Y. of Nuremberg, at 70d. Flemish per florin, of 65 cruitzers current. If V. has orders to draw on X. in order to remit to Y. at the said prices, how would run the exchange between Hamburg and Nuremberg?

(33) M. of Amsterdam orders N. of London to remit O. of Paris, at 54d. sterling per crown, and to draw on P. of Antwerp for the value, at 334s. Flem. per L. sterling; but as soon as N. received the commission, the exchange was on Paris at 54 d. per crown. At what rate of exchange ought N. to draw on P. to execute his orders, and be no loser?

(34) London changes with Amsterdam on par at 33s. 4d. Flem. per £. Amsterdam changes on Middleburg, at 2 per cent. How stands the exchange between London and Middleburg?

3

(35) Q. of Rotterdam remits to R. of Paris 2000 crowns, at 91d. Flem. per crown, and double usance, or two months, and pays per cent. brokerage, with orders to remit him again the value at 93d. per crown, allowing at the same time per cent. for provision. What is gained per cent. per annum, by a remittance thus managed ?

(36) A. of Amsterdam owes B. of Paris 2000 florins of current specie, which he is to remit him by order, the exchange at 90 d. Flemish per crown, of 60 sols Tournois, the agio of the bank being four per cent. better than specie; but when it was to be negotiated, the exchange was down at 894d. per crown, and the agio raised to five per cent. What did B. get by this turn of affairs?

XXXI. COMPARISON OF WEIGHTS AND MEASURES

IS when the weights or measures of different countries are compared together, and is a rule of great importance to the merchant, and very necessary to be acquainted with.

Case 1. When it is required to find how many of the first sort of weight or measure mentioned in the question, are equal to a given quantity of the last.

RULE.

1. Place the numbers alternately, beginning at the left hand, and let the last number stand on the left hand.

2. Multiply the first rank continually together, for a dividend, and the second for a divisor.

G