i 7 7 
ARITHMETIC. 
-B'j fearlet cloth i yard - » i o o 
1 1 inis manufacture / - - o i S 
Ditto tiner fort * » - 024 
Value of one of each fort » - j 4 o 
Then as il. 4s. ; 1 :: 456I. 3s. 6d. : 380^-of each fort 
of B’s goods. 
The truth of this folution may be proved thus, 
380^ yds. of fcarlet-cloth, at il. per yd. is 380 2 11 
3804 7 3 -lb. of glafs manufacture at is. 8d. 31 13 6fi 
3804^-lb. of finer fort, do. at 2s. 41!. 44 7 
The amount the fame as A’s goods above 456 3 6 
EXCHANGE. 
Exchange properly confifts in giving the money of one 
country for that of another, by means of a written inftru- 
ment, called a bill of exchange, and is fimilar to bartering 
commodities. See Bill of Exchange. There are five 
things to be defined before we come to the practice of ex¬ 
change, and thefe are, 1. The real money of every coun¬ 
try; 2r. The imaginary money of it; 3. The par of ex¬ 
change; 4. The courfe of exchange; and 5. The agio. 
The real money of any country, is a piece of metal 
coined by the authority of that date, and current ata cer¬ 
tain rate ; as a guinea, a crown, a (hilling, &c. in England. 
The imaginary money is a denomination which has no real 
fpecies or coins to anfwer it; as a pound, a mark, an an¬ 
gel, a penny, &c. in England. The par of exchange is 
when any two coins of different countries contain the fame 
quantity of pure gold or filver, although of a different 
weight. Hence it has been found that the ecu or French 
crown is to the Englifh crowm as 9 to 10, and therefore the 
par or true value of the French crown is 4s. 6d. fterling. 
The courfe of exchange is the value agreed upon by mer¬ 
chants or their faitors; and is continually fluctuating above 
or below the par, according as the demand for bills of ex¬ 
change is greater or lefs. The agio is the difference be¬ 
tween the value of the bank money, and the current, in 
foreign places; for their bank money (on which the ex¬ 
change is fuppofed to be made) is finer than their current. 
When there is a necelfity of taking currency in cafe of a 
defeat in the bank, the merchants have an allowance of (o 
much per cent, according to what the exchange, or bank 
money, is worth more than the current money. Bank 
notes, in the bufinefs, are fuch as are obtained from foreign 
bankers for money lodged in their bank. Thefe are called 
banco, or bank money. Ufance is a certain fpaceof time 
allowed, by one country to another, for the payment of 
bills of exchange. It varies according to the cuftom of 
countries, and frequently in proportion to the diftance of 
places from each other. Bills are either payable at fight, 
or fo many days after fight; at ufance, double ufance, or 
half ufance. The days of grace are a certain number of 
days allowed for the payment of bills of exchange after 
the expiration of the term fpecified in fuch bills, and are 
variable in different countries. In fome countries no days 
of grace are allowed. 
I. With Ireland, America, and the West Indies. 
Accounts are kept in Ireland, America, and the Wed: 
Indies, in pounds, (hillings, and pence, as in England, and 
exchange per cent, fterling. 100!. Sterling = 108I. 6s. 
2d. Irifh at par, or 12I. fterling — 13I. Irifh; alft^l. fter¬ 
ling is accounted worth 7I. of the currency of the Weft 
Indies. See Coins and Money. 
To reduce Irifh Money into Englijh at par. 
Rule, From the 1 11 (It money at par take one-thirteenth 
thereof, the remainder is Englifit. 
Ex. Reduce 202I. 3s. 6 % d, and 6y\. 14s. ufd. Iriflt to 
Englifit at par. 
1. s. d. 1. s. d. 
Thus from 202 3 6-J- 
Take yV— 15 11 ° 2 ' 
Rem. 186 12 6 
And from 67 14 1 xf 
Take ^ ■== 5 4 3a 
Englifit 62 10 9 anf. 
VoL. IL No. 6$. 
To reduce Englijh Money to Irifh at par. 
Rulf. To the Englifit add one-twelfth thereof, the 
fum is Iriflt. 
Ex. Reduce 1 861 . 12s. 6d. and 62L 10s. 9 d. Englifit 
into Irifh at par. 
1- s. d. 1. s. d. 
Thus to 186 12 6 And to 62 10 9 
Add-jL-zr; 15 11 0? Add-jL-rz: 5^4 2 f 
T he fum is 202 3 6f Iriflt 67 14 iif anfwer. 
T. he folloiving examples are above and below par : 
London remits to Dublin 367 1 . is. 8d. fterling, exchange 
at 7 per cent. How much will it amount to ? Thus, as 
too : 107 367I is gd. : 392I. 15s. 7ft. the anfwer. 
Dublin remits to London 367I. is. Sd. lti(h, exchange at 
io| per cent, how much fterling does this remittance 
amount to? 
As no} : 100 :: 367 1 . is. 8d. 
Or 881 : 800 :: 367]. is. 8d. : 333 1 . 6s. 8d. nearly. 
How much Jamaica-currency mull be received for 60ST.' 
6s. 8d. fterling, exchange.at 46 per cent. As 100 : 146 
:: 60SI. 6s. 8d. : 8881. 3s. 4ft. currency, the anfwer. 
How much fterling muft be given for 8881 . 3s. 4ft. Ja¬ 
maica currency, exchange at 46 per cent. As 146 ; ioo 
:: 8881. 3s. 4ft. : 60SI. 6s. 8d. the anfwer. 
II. With Holland, Flanders, and Germ any. 
In thefe places accounts are kept, fqnietimes in pounds, 
(hillings, and pence, as in England ; and fometiines in 
guilders, (livers, and pennings. The money of Holland 
and Flanders is diftinguifned by the name of Flemifti, and 
they exchange by the pound fterling. From 33s. 6d. to 
36s. 6d. Flemifti per pound fterling, il. fterling is exchan¬ 
ged for 33s. 4d. — 1 1 . Flemifti at par. Agio from 3 to 6 
per cent, for current. 
The fubdivifions of the Flemifti pound are, viz. 
16 Pennings — 1 (liver, valued at 2d. Flemifti 
20 Stivers =1 1 guilder or florin = 4od. 
30 Stivers — 1 rix-dollar = 2% guilders — 100 pence Fleiru 
6 florins — 1 pound Flemilh 2 20 fhillings. 
In Germany thefe are the denominations : 
12 Pennings = 1 (hilling lubs. 
16 I.ubifti (hillings — 1 mark 
8 Pennings — 1 grote or penny — £ (liver 
12 Grotes or pence =2 6 (livers — 1 (hilling 
6 Lubi(h (hillings — 1 (killing Flemifti 
20 Skillings =2: 6 guilders — 7X marks lubs — 1 pound. 
Given the fum due in one country coin, and that paya¬ 
ble in another country coin, to find the rate of exchange, 
the method is, As the fum due is to that paid, or payable^ 
1° is an unit of the firft to the value of an unit of the fecond. 
A merchant at Amfterdam paid 384 guilders for 34I. 8s.- 
received by his correfpondent at London ; what is the va¬ 
lue of a guilder ? 
As 384 guilders : 688s. :: 1 guild. : is. 9 fd. the anfwer. 
__ Received in London 846I. us. 6d. for 1432I. 4s. 8fd. 
Flemifti due at Rotterdam; what is the rate of exchange ? 
As 846l.12s.6d. : 1432l.4s.8fd. :: il. : 1I.13S. io^-fE d 
the anfwer. 3 ' 
To reduce Flemifti pounds, (hillings, and pence, into 
guilders, (fivers, &c. firft bring them into pence Flemifti, 
then divide by 40 (becaufe 40 pence make 1 guilder), and 
the quotient will be guilders ; and, if any thing remain, 
divide it by 2 (becaufe 2 pence make 1 ftiver), and the 
quotient will be (fivers. 
In 821I. 14s. Sd. Flemifti, how many guilders? 
I'irft S21I. 14s. 8d. — i 9 72i6d. and 197216 ~ 40—4930 
guilders, 16 pence, or 8 (fivers, the anfwer. 
In 4930 guilders, 8 (fivers, how many Flemilh pounds? 
guild, (fivers 
A — 4930 _ 8 
*-r-6— 821 o 0222a and rem. 4guilders 8 Rivers 
4 guilders = o 13 4— b—%\. 
8 (fiver s —01 4— of 4 guilders 
Q-\~b-\- c — 821L 14s. Sd. t he anfwer. 
Z z 
To 
