another, this value is seldom at par, being sometimes above, and sometimes below it. NOTE.-The calculation of exchange is performed by simple proportion. MONIES OF EXCHANGE. I. WITH IRELAND, AMERICA, and the West INDIES. In these countries accounts are stated in pounds, shillings, and pence, currency. In Ireland the par of exchange is £108, 6s. 8d. Irish = £100 sterling. In Jamaica, £140 currency £100 sterling. In British America, £111 currency £100 sterling. In the United States, £1091 currency £100 sterling. The dollar is worth about 4s. 2d., although the assumed par be 4s. 6d. sterling. 1. Convert £93, 18s.9d. sterling into Irish money, exchange at £110 per cent. Ans. £103, 6s. 74d. 2. Convert £103, 6s. 74d. Irish into sterling money, exchange at £110 per cent. Ans. £93, 18s. 9d. 3. Convert £645, 10s. Jamaica currency into sterling, exchange at £1424. Ans. £452, 19s. 7 d. 4. Convert £280, 10s. Quebec currency into sterling, exchange at £111 per cent. Ans. £252, 14s. Old. §. 5. Convert 2921 dollars into sterling money, exchange at 4s. 6d. per dollar. Ans. £657, 4s. 6d. II. WITH France. Accounts are stated in francs of 10 decimes or 100 centimes. The franc is worth about 94d., and the par of exchange between London and Paris is 25 francs 20 cent. per £. 6. In 16,914 francs 19 cents, how much sterling money, exchange at 24 francs per £? Ans. £704, 158. 1 d. §. 7. In £704, 15s. 1d. sterling, how many francs, exchange at 24 francs per £? Ans. 16,914 francs 19 cents. 8. Convert £150 into francs, at 25 francs 18 cents per £ sterling. Ans. 3777 francs. III. WITH HAMBURG. Accounts are stated in marks of 16 schillings, each schilling consisting of 12 pfennings; also 3 marks 1 dollar. The bank money is of greater value than the currency, and the difference between them is called agio. A mark banco is worth about 1s. 6d. sterling. 9. Convert 379 marks 7 sch. 4 pf. into sterling money, exchange at 1s. 6d. per mark. Ans. £28, 9s. 21d. 10. Convert £28, 9s. 24d. sterling into Hamburg money, exchange at 18. 6d. per mark. Ans. 379 marks 7 sch. 4 pf. IV. WITH SPAIN. Accounts are stated in dollars of 8 reals, each real consisting of 34 maravedis. The par of exchange between Britain and Spain is about 37 d. per dollar. 11. Convert 3965 reals into sterling money, exchange at 38d. per dollar. Ans. £78, 9s. 52d. 12. Convert £78, 9s. 5 d. sterling into Spanish money, exchange at 38d. per dollar. Ans. 3965 reals. V. WITH PORTUGAL. Accounts are stated in milreis of 1000 reis. The milrei is 4s. 94d. sterling. 13. Convert 735 milreis 421 reis into sterling money, exchange at 4s. 94d. per milrei. Ans. £175, 8s. 6d. ·409. 14. Convert £175, 8s. 6 d. 409 sterling in Portuguese currency, exchange at 4s. 94d. per milrei. Ans. 735 milreis 421 reis. MERCHANTS' ACCOUNTS. RECEIPTS. A receipt is a written acknowledgment of having received a sum of money, or a bill, in the settlement of an account. The usual forms of receipts are exhibited in the following specimens: Berwick-upon-Tweed, 6th April 1840. Received of Mr James Dickson seventy-five pounds three shillings and ninepence in full. £75:3:9. HUGH WELSH. Berwick-upon-Tweed, Dec. 28th 1840. Received of Mr Peter Sim fifty-seven pounds ten shillings on account. £57:10. ADAM NICOL. Berwick-upon-Tweed, 15th May 1840. Received from Mr James Kay ten pounds sixteen shillings, being the payment of his house-rent from Martinmas till this date. £10: 16. RALPH ROBB. INLAND BILLS. Inland bills are distinguished into drafts and promissory-notes, the former containing an order, and the latter a promise. FORMS OF DRAFTS. £263:7:6. Berwick-upon-Tweed, Jan. 2d 1841. Four months after date, pay to my order, two hundred and sixty-three pounds seven shillings and sixpence, value received. JOHN CLARK. To Mr Neil Gow, Accepted, NEIL GOW. Perth. £120:12. Berwick-upon-Tweed, Jan. 8th 1841. Six months after date, pay to my order in Cupar, one hundred and twenty pounds twelve shillings, value received. DAVID GRANT. To Mr George Bell, Accepted, GEORGE BELL. Edinburgh. Payable at White's office. PROMISSORY-NOTES. £100. Berwick-upon-Tweed, Jan. 9th 1841. Two months after date, I promise to pay to Mr Henry Ord, or order, one hundred pounds, value received. ALEXANDER DEWAR. : £70 14. Berwick-upon-Tweed, Jan. 13th 1841. On demand, we jointly and severally promise to pay to Mr James Fyfe, the sum of seventy pounds fourteen shillings, value received. HENRY YOUNG. MICHAEL IRVINE. FOREIGN BILL. £2000. New York, June 16th 1840. Thirty days after sight of this my first of exchange (second and third of the same tenor and date unpaid), pay to the order of Messrs Watt & Co. two thousand pounds sterling, value received. To Mr Hugh Brown, Glasgow. FRANCIS ROss. Accepted July 24th 1840. HUGH BROWN. THE END. Printed by Oliver & Boyd, |