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

each man's share of the gain?

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 750L. Massachusetts curren

cy in New-York?

S. L. S.

Ans. 1000L. Or thus:

*Note.-A Spanish dollar is valued at 4s. 6d. sterling, and at 7s. 6d. Pennsylvania currency: 4s. 6d. sterling is therefore equal to 7s. 6d. Pennsylvania currency, and 100L. of the former is equal to 1663 L. of the latter. When Exchange between England and Pennsylvania is at this rate, it is said to be at par.

A TABLE,

S. Carolina and

Georgia.

Subtract

twice.

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

2. What is the value of 1500L. Massachusetts cur

rency, in New-York? Ans. 2000L. 3. What is the value of 240L. Pennsylvania currency, in New-York?

Ans. 256L. 4. What is the value of 933L. 6s. 8d. South Carolina currency, in Pennsylvania?

Ans. 1500L. 5. What sum in Pennsylvania currency is equal to 120L. 10s. in New-York? Ans. 112L. 19s. 4 d. 6. What sum in Pennsylvania currency is equal to 234L. 4s. in New-England or Virginia?

Ans. 292L. 15s.

7. What is the value of 173L. 16s. New-Jersey currency in New-York? Ans. 185L. 7s. 84d. 8. What is the value of 900L. New-England or Virginia currency, in South Carolina? Ans. 700L. 9. Change 792L. 19s. 7d. of North Carolina into Pennsylvania currency. Facit 743L. 8s. 44d. + 10. What sum of Maryland currency is equal to 6307L. 13s. 5d. of New-York? Ans. 5913L. Ss. 93d. +

11. What is the value of a bill of 750L. Pennsylvania currency, in New-York or North Carolina currency? Ans. 800L. 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 625L. 6s. what is the value thereof in Virginia currency; also in Federal Money?

Ans. (168119, 6d. Virginia currency.

1563dols. 25cts.

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.

*

5

1 Groat,
1 Stiver, =2d.
1 Shilling,
1 Florin or Guilder,
1 Rix Dollar,
1 L. Flemish,
1. Ducat.

Denmark.

1 Mark,

í Rix Dollar,

1 Copper Dollar,

1 Rix dollar.

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

All the operations in exchange may be performed by the Rule of Three or by Practice.

Note. The par of exchange between the United States and most other trading countries, may be ascer tained by the table at page 65.

EXAMPLES.

1. A of Philadelphia is indebted to B of London 1474L. 16s. currency, how much sterling must be remitted, when the exchange is at 64 per cent.?

L. L. S.

Ans. 899L. 5s. 44d..

L. I. S. d.

As 164 1474 16 :: 100: 899 5 44

2. B of London is indebted to C of Philadelphia 943L. 17s. 54d. sterling; for how much currency may C draw on B, exchange being at 64 per cent.?

3. C of Philadelphia is indebted to D of London 750L. 2s. 4 d. sterling; how much Pennsylvania currency will discharge the debt, exchange being at 78 per cent.? Ans. 1335L. 4s. 24d. 4. How much sterling is equal to 1341L. 9s. 44d. Pennsylvania currency, exchange being at 67 per Ans. 800L. 17s. 6d.

cent.?