As the sum of the products,
Is to either particular product;
So is the whole gain or loss,

To the gain or loss of the stock from which that product is obtained.

EXAMPLES.

1. Three merchants traded together; A put in 120 L. for 9 months, B 100 L. for 16 months, and C 100 L. for 14 months, and they gained 100 L.; what is each man's share?

As 4080
As 4080

L. s. d.

1080 :: 100: 26 9 4 + A's share. 1600 :: 100: 39 4 34 + B's share. As 4080: 1400 :: 100: 34 6 34 + C's share.

2. B, C, and D traded together; B put in 50 dollars for 4 months, C 100 dollars for 6 months, and D 150 dollars for 8 months; they gained $126.80: what is each man's share of the gain?

Ans. B's share is $12.68, C's $38.4, D s $76.8. 3. B and C trade in company; B put in 950 L. for 5 months, and C 785 L. for 6 months, and by trading they gain 275 L. 18 s. 4 d.; what is each man's share of the gain? Ans. B's 138 L. 10 s. 10d., C's 137 L. 7 s. 6 d. 4. Three merchants trade in company; A put in 400 L. for 9 months, B 680 L. for 5 months, and C 120 L. for 12 months; but by misfortunes lost goods to the value of 500 L.: what must each man sustain of the loss?

AnA must lose 213 L. 5s. 44 d.+1

B

201 L. 8s. 5d. + 85L. 6s. 12 d. +

5. A, B, and C made a stock for 12 months; A put in at first $873.60, and 4 months after he put in $96.00 more; B put in at first $979.20, and at the end of 7 months he took out $206.40; C put in at first $355.20, and 3 months after he put in $206.40, and 5 months after that he put inR $240.00 more. At the end of 12

months their gain is found to be $3446.40; what is

each man's share of the gain?

A's share is $1334.82

Ans. B's

C's

$1271.614+

$839.96

EXCHANGE.

Exchange is the reduction of the money of one state or country to that of another.

Par is equality in value;* but the course of exchange is frequently above or below par.

Agio is a term used to signify the difference, in some countries, between bank and current money.

DOMESTIC EXCHANGE.

To change the currency of either state into that of any other, work by the Rule of Three; or by the theorems in the following page.

EXAMPLES.

1. What is the value of 750 L. Massachusetts cur rency in New York?

Ans. 1000 L.

*Note.-A Spanish dollar is valued at 4 s. 6 d. sterling, and at 7 s. 6 d. Pennsylvania currency: 4 s. 6 d. sterling is therefore equal to 7 s. 6 d. Pennsylvania currency, and 100 L. of the former is equal to 166 L. of the latter. When exchange between England and Pennsylvania is at this rate, it is said to be at par.

A TABLE,

either opposite to that state, or under it, in the table. The value of a dollar in any state is found,

Ans. 2000 L.

2. What is the value of 1500 L., Massachusetts currency, in New York? 3. What is the value of 240 L., Pennsylvania currency, in New York?

Ans. 256 L.

4. What is the value of 933 L. 6 s. 8 d., South Carolina currency, in Pennsylvania? Ans. 1500 L.

5. What sum in Pennsylvania currency is equal to 120 L. 10 s. in New York? Ans. 112 L. 19 s. 4 d. 6. What sum in Pennsylvania currency is equal to 234 L. 4 s. in New England or Virginia?

Ans. 292 L. 15 s. 7. What is the value of 173 L. 16 s., New Jersey cur rency in New York? Ans. 185 L. 7 s. 84 d. 8. What is the value of 900 L., New England or Virginia currency, in South Carolina?

Ans. 700 1.

9. Change 792 L. 19 s. 7 d. of North Carolina into Pennsylvania currency. Facit 743 L. 8 s. 44 d. +

10. What sum of Maryland currency is equal to 6307 L. 13 s. 5 d. of New York? Ans. 5913 L. 8 s. 93 d. + 11. What is the value of a bill of 750 L., Pennsylvania currency, in New York or North Carolina currency? *Ans. 800 L.

12. A merchant in Virginia consigns to his agent in New York a quantity of tobacco; which, when sold, and the charges deducted, amounts to 625 L. 6 s., what is the value thereof in Virginia currency; also in Federal Money? 468 L. 19 s. 6 d., Virginia curreney. 1563 dols. 25 cts.

Ans.

FOREIGN EXCHANGE.

Accounts are kept in England, Ireland, and the English West India Islands, in pounds, shillings, pence, and farthings; though their intrinsic values in these places are different.

* A stiver is estimated at 2 cents; and a florin or guilder at 40 cents, nearly.