EXC 
Bourdeaux 
34 10 
Madrid 
391 Eff. 
Cadiz 
38i Eff. 
Bilboa 
381 Eff. 
Palermo 
Leghorn 
Genoa 
Venice 
Naples 
42 
Lisbon 
Oporto 
605 
Dublin 
Cork 
m 
Agio, B. IIol 
An explanation of this table, which is 
taken from the public papers, may be ne- 
cessary to those of our readers who are not 
conversant with mercantile topics. Let us 
suppose a merchant desirous to sell on the 
Royal Exchange, London, a bill for 10001. 
sterling on Amsterdam. The question be- 
tween him and the buyer is, “ How many 
schillings and grotes per pound sterling are 
to be paid at Amsterdam?” This is answered 
by the table, which states, that if the bill be 
made payable at sight, the rate is only 34 
schillings and 9 grotes per pound sterling ; 
but if it be payable at 2 usance, that is, at 
two months after date, the rate will be 35 
schillings and 5 grotes. This difference is 
in lieu of the interest of the money for the 
interval. 
In the case of Ireland, the rate of ex- 
change is quoted at so much per cent. At 
the date of the prefixed table, there would 
have been given on the Exchange of Lon- 
don for 100 1. sterling a bill qn Dublin for 
1101.15s. Irish ; or one on Cork, for 1111. 
10s. Irish. 
By the agio of the Bank of Holland is 
meant the difference between cash and 
bank money. Formerly cash money bore 
a premium of li, 2, or 2j per cent. ; but 
since Holland fell under the French domi- 
nion, it has been at a discount. 
By 1 d. annexed to Paris, is to be under- 
stood one day’s sight : 24 : 6 means 24 lx- 
vres 6 sous per £*. sterling. The Madrid 
exchange is 39±d. sterling per dollar of 8 
reals plate, or 272 marvedis. The Vene- 
tian 52(1. sterling per ducat banco. In the 
Sicilian exchange the term oz., or onzia, 
signifies an ounce, meaning an ounce of 
silver. 
Exchange signifies also a place in most 
considerable trading cities, wherein the 
EXC 
merchants, negociants, agents, bankers, 
brokers, interpretei-s, and other persons 
concerned in commerce, meet on certain 
days, and at certain times thereof, to con- 
fer and treat together of matters relating 
to exchanges, remittances, payments, ad- 
ventures, assurances, freightments, and 
other mercantile negociations, both by sea 
and land. 
These assemblies are, in some countries, 
held with so much exactness, that the ab- 
sence of a merchant, &c. makes him sus- 
pected of drawing to a failure of bank- 
ruptcy, as not being able to stand the 
change. 
The most considei'able exchanges in Eu- 
rope, are those of Amsterdam, and that 
of London, called the Royal Exchange. 
See Royal Exchange. 
Exchange, in law, is a mutual grant of 
equal interests, the one in consideration of 
the other; and upon such a conveyance, 
no livery of seisin, even of freehold, is 
necessary to perfect it ; for each party 
stands in the place of the other, and oc- 
cupies his right, and each of them hath 
already had corporal possession of his own 
land. But entry must be made on both 
sides; for if either party die before the 
entry, exchange is void for want of suffi- 
cient notoriety. 
Both the estates exchanged should be 
equal. But not equal value, but only in 
the kind and manner of the estate. 
ExctiANGE-re, is when the holder of a 
bill finds it not paid by the acceptor, then 
it becomes necessary to draw other bills 
upon the parties, which create exchange, 
and the exchange paid upon that transac- 
tion are, by the usage of merchants, charge- 
able upon the preceding parties to the bill, 
by way of re-exchange. 
EXCHEQUER, from the French esche- 
quier, i. e. abacus tabula lusoria, is a court of 
law and equity, established by William the 
Conqueror, as a part of the aula regis, 
though regulated and reduced to its present 
state by Edw. I. and intended principally to 
order the revenue of the crown, and to re- 
cover the King’s debts and duties. The 
court consists of two divisions, viz. the re- 
ceipt of the exchequer, which manages the 
royal revenues ; and the judicial, which is 
again subdivided into a court of equity, and 
a court of common law. The court of 
equity is held in the Exchequer, before the 
Lord Treasurer, the Chancellor of the Ex- 
chequer, the Chief Baron, and three puisne 
G 2 , 
