IV. WITH HOLLAND. At AMSTERDAM there are two forts of money, banco and currency. The current money is the coin which circulates in the country, and the bank money is the property which a perfon poffeffes in the bank. As no money defective in weight or fineness, is received into the bank; the bank treasure is accounted of superior value to the current money, and the difference is called agio, which varies from 2 to 5 per cent. Accompts are kept in current money, and bills of exchange negociated in bank money. The pound Flemish is divided as the British pound, and the guilder as follows: 16 pennings1 ftiver. 20 stivers =1 guilder or flor. 5 guilders I ducat. 2 pence grofs=1 ftiver. 40 pence grofs=1 guilder. 12 pence grofs I fchilling. 20 fchil. grofs=1 pound grofs Exchange with Britain is from 34 to 37 sch. gross or Flemish per pound Sterling. The par is 36s. 7d. current, and therefore the value of a guilder is about 217d. To reduce bank money into current, and the contrary, fay 100 100 with the agio added :: banco : current. EXAMPLES. 1. How much Sterling money in 5421 guilders current, agio 31, exchange 35s. 9d.? 2. How many current guilders in L.850 Sterling, exchange 36s. 4d., agio 2 per cent.? 3. When the exchange was at 36s. 6d. Britain drew on Amfterdam for 8400 guilders, but was obliged to remit, to keep credit there, at 35s.; what was loft or gained, and how much per cent.? 4. A of London drew on B of Holland 35000 guilders, exchange 35s. at 3 months date, at the end of which B redrew on A, for the value at 2 months, including per cent. commiffion, exchange 365.; required A's gain or lofs, allowing interest at 5 per cent.? 5. Amfterdam owes Edinburgh 15375 guilders current, which the merchant can fell at 224d.; or, the exchange at London is at 34s. 9d. agio 2, and the premium on London bills is 2 per cent., agent's commiffion per cent. Whether ought he to negociate at Edinburgh or London ? 1. How much of a debt in current money will 4420 guilders banco compenfate, agio 3 per cent.? 2. A merchant in Holland has 3852 guilders current; how much will it reckon banco, agio 31? 3. Dundee draws on Amfterdam for L 1435: 10s. Sterling; how much Flemish will retire the draught, exchange 35s. 8d.? 4. Britain remits to Holland 6149 gs. 11 ftiv. 12 pen.; how much Sterling was paid for the bill, exchange 35s. 1od.? 5. Rotterdam owes Leith L.1201:56 Sterling; how many current guilders may Leith draw, exchange 36s. 6d. agio 44.? 6. If the pay of a British sailor be L.1 : 10 per month, and that of a Dutch failor 16 guilders; what is the difference, ex, 36s. 8d.? 7. What is the course of exchange between Britain and Holland when the Bank guilder sells at 224d.? 8. When the value of the current guilder is 214d.; what is the value of the guilder banco, the agio being 4 per cent.? 9. What is the value of the current guilder when the course of exchange is 358. and agio 34 per cent.? 10. Britain remitted to Amfterdam L.2070, exchange 36s. 3d. and drew for the fame when the exchange was at 345. 6d.; what was received for the draught? 11. A merchant remits L.2000 to Amfterdam, exchange 35s. 4d. agio 3d.; and allowing his agent to retain per cent. commiffion; he draws 3850 g. at 221d.; 2500 at 224d.; 4250 at 221d.; and the remainder at 223d.; required the gain or loss? V. WITH GERMANY. At HAMBURGH, money is diftinguished as at Amfterdam into banco and current: bills are negociated in the former, accompts kept in the latter. The agio here varies from 15 to 25 per cent.? The value of the marc is 1s. 6d.; and therefore the par of exchange is about 35 fch. 64d. current. The courfe of exchange with Britain runs from 33 to 36 sch. banco. Exchange with Holland about 33 ftivers banco per dollar of Hamburgh. The computation here is nearly the fame as with Holland, obferving that the marc lub contains 16 schillings lubs; whereas the guilder contains 20 ftivers. Note. As 40 grofs or Flemish pence make a guilder of Holland, and 32 a marc of Hamburgh; guilders multiplied by 5 and divided by 4 make marcs, and marcs multiplied by 4 and divided by 5, make guilders. EXAMPLES. 1. How much Sterling money in 1640 marks lubs, agio 25 per cent. exchange 34s. 2s.? Cut. Banco. abridged Ex. 34:2 7872 1312 L. fh. )20992(102: 8 Anf. fch. lubs 205 2. How many marcs current in 1950 guilders current, agio in Holland 4 per cent. exchange 22 ftiv. per dollar, agio in Hamburgh 20 per cent.? Cur. Banco Cur. 1. If 104: 100 :: 1950 Stiv. Marcs Guilders : 1875 guilders banco. 32:2 :: 1875x20: 2307.692 ms. banco. Banco Cur. Banco 100 120 :: 2307.692: 2769 ms. 3 fch. 8 pen. cur. 4. Britain remitted to Hamburgh L.8600 exchange 35s. 5d.; what was gained or loft by drawing when the exchange is at 33s. 4d. |