EXAMPLE. 1. A bill of exchange on Hamburgh for 12546 marks 10 sous 8 deniers banco, is sold at 30 cents per mark: What is the amount in dollars? 2. A in New-York draws on Hamburgh for 11564 m. b. 8 s. 10 d. and receives at the rate of 333 cents per mark banco: What is the value in dollars? Ans. $3854.85 3. C in New-York draws on D in Hamburgh for 12546 m. 10 s. 8 den. in favour of E who pays him $3764: What was the course of exchange? Ans. $0.30 per m. b. 4. A bill of exchange on Hamburgh, is sold for $3000.75: What is the amount in rix dollars at 35 cents per mark banco. Ans. 2857 rix d. 2 m. b. 9 s. 15 d. 5. What is the mark banco worth in Boston, if 8573 m. 9 s. 14 d. be sold for $3000.75? Hamburgh exchanges with France, upon the crown of 60 sols for 27 schil. lubs Ans. $0.35. More or less, according to the course of exchange. Exchange with Denmark, Norway, &c. The exchanges with Denmark and Norway, are intrinsically the same with that of Hamburgh. Their monies being of the same value, divided in the same manner, and nearly of the same denominations: Y Viz. 12 pennings make 1 sch. lub, value in the U. S. $0.0208125 16 schillings lub 1 mark, 1 rix dollar, 61 marks 1 ducat, .333' 1. 2.08'3' The examples and questions in exchange with Hamburgh, are sufficient for this. For exchange with Sweden and Russia, see the general tables. Exchange with Genoa, Leghorn, Florence, and SAINT GEORGE'S BANK, in Genoa, is constituted of such parts of the public revenue as have been mortgaged by government during the exigencies of the commonwealth. It is become a kind of inferior senate, of powerful sway in the republic, and often breaks the uniformity of their aristocratic government. The president's office is during life. Accounts are kept in the bank in pezzoes *, or piastres, soldi and denari. 12 denari make 1 soldi, value in the U. S. $0.05. 20 soldi This is the money of exchange; but, in general, accounts are kept in lire, soldi, and denari, divided as before. The lire money of Leghorn is equal in value only to of the exchange; and the lire of Genoa is only value of the exchange money. The par of a piastre, lire money, is only 20 cents. 12 denari make 1 soldi, value in the U. S. $0.01 20 soldi 4 do. 30 do. 6 testoons 1 lire, 1 chevalet, 1 testoon, 1 genoni, 20 04 30 1.80 To reduce lire money to money of exchange: RULE.-Divide the lire money by 5, the quotient will be the In 794 pezzoes, 19 soldi, 6 denari lire, how much money of exchange? To reduce money of exchange to lire money : RULE.-Multiply the money of exchange by 5, the quotient will be the lire money. EXAMPLE. In 684 pez. 15 s. 9 d. exchange, how much lire money? 684 15 9 pez. 3423 18 9 lire, Ans. To reduce pezzoes, soldi and denari to federal money; RULE. Reduce the soldi and denari to the decimal of a pezzo, and the exchange money will answer to dollars and cents at par. EXAMPLE. In 648 pez. 7 s. 6 d. how much federal money? 6 d. = .005 NOTE. This currency, or money, being divided like pounds, shillings and pence, to find the decimal value of the lower denominations, use table 2nd, page 140. Otherwise, Take the pezzoes as so many dollars, and for the soldi and denari take parts of a dollar for the cents. Foregoing example. pez. 648. 5 soldi .25 .12 $648.37 Ans. To reduce dollars and cents to pezzoes, soldi and denari : RULE. Take the dollars as so many pezzoes-multiply the cents by the lower known names in the exchange money for soldi and denari, &c. EXAMPLE. Reduce $847.37 to pez. &c. &c. $847. 375 20 7.500 12 6.000 847 pez. 7 s. 6 d. Ans, When the exchange is so many cents per pezzo, above or below par: RULE. Reduce the lower denominations to the decimal of a pezzo, and multiply by the rate of exchange. EXAMPLE. What is the value of 500 pez. 14 s. 6 d. in federal money, at 90 cents per pezzo? Ans. $450.65. New-York, 15th June, 1803. Exchange for 4000 pez. 10 s. 6 d. At usance, pay this first of exchange (second and third of the same tenor and date unpaid) to Pier De Foscari, or order, four thousand pezzoes, 10 sols, 6 den. exchange, which charge to account as per advice. George L'Estrange. To Messrs. Francisco & Co. merchants, Leghorn. What is the value of the above, at $1.04 per pezzo? Ans. $4160.54. Exchange with Venice. THE BANK OF VENICE, or Banco del Giro, is a public depository of the merchants' money, as established by an edict of the republic, ordering the payment of merchandize by wholesale, and bills of exchange to be made in bank. All debtors and creditors are obliged to pay or receive their money or accounts in the bank by transfer, from one account to the other. A ready money account has been opened for the accommodation of strange merchants, and to supply the necessities of a real trade: this, instead of diminishing the funds, has been found to augment them. The funds of the bank were fixed at 5,000,000 ducats. Their monies are as follow: 54 soldi make 1 gross, value in the U. S. $ 24 gross 1 ducat, But merchants and bankers, for the sake of ease in calculation, keep their accounts in ducats, sols and deniers d'or. 12 deniers d'or make 1 sol, value in the U. S. $0.0465+ But 93 cents are near enough for calculation. .9305 This money of exchange is imaginary, 100 ducats whereof make 120 ducats current-the difference is called agio. The money of Venice is of three sorts, viz. Bank, Banco current and Picoli. The bank money is 20 per cent. better than the banco current, and banco current is 20 per cent. better than the picoli; but all bills of exchange are paid in bank. To reduce Venetian ducats, soldi and denari to federal money : RULE. Reduce the soldi and denari to the decimal of a ducat, then multiply the given sum by .93-the product will be dollars and cents. NOTE. This money being divided as currency, the decimal parts for the lower denominations will be found in table 2nd, page 140. EXAMPLE. 1. In 3254 ducats, 16 s. 6 d. how many dollars, if 93 cents be a par for one ducat? To reduce federal money to Venetian ducats, &c. RULE. Divide the dollars and cents by .93, the quotient will be ducats and decimal of ducats-then find the value of the decimal in the known denominations. EXAMPLE. 2. Bought a bill of exchange on .93) 3464.50 (3725.2688 Venice, amounting to $3464.50: What is the amount in Venician ducats of exchange, at 93 cents per ducat? Ans. 3725 d. 5 s. 4. 3. Prove the above examples. 20 5.3760 12 4.5120 |