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5. Given ”1451. 168. 8d. currency of South-Carolina and Georgia, where $1 is current at 45. 8d. to be changed into the currency of The United States of America, 2 Rule. X by 30 — by 7. where $1 is current at 100 cents.
Ans. $625. New-England, Virginia,
Rule. X by 9; by 7. Kentucky, Tennessee, &c.
Ans. 1871. 10s. where $1 is current at 6s. New-York and N. Carolina, Rule. X by 12 - by 7. where $1 is current at 8s.)
Ans. 2501. New-Jersey, Pennsylvania, 7 Rule. X by 45 = by 28.
Ans. 2341. 7s. 6d. where $1 is current at 7s.6d.
EXCHANGE WITH GREAT BRITAIN. In Great Britain they keep their accounts in pounds, shil. lings and pence, sterling, and exchanges by the 1001. which is equal to $444at par. I. To change sterling where 4s. 6d. is equal to $1, into federal
money, and the currencies of the different states. GENERAL RULE-Say as 4s. 6d. : is to $1 :: So is the amount in sterling : to the answer in federal money.
Note-Federal money may be changed to the currency of the different states, by the rules given under the head of inland exchange.
EXAMPLES AND PARTICULAR RULES. 1. Given 1251. sterling, where the dollar is valued at 4sa 6d. to be changed into the currency of The United States of America, Rule. X by 40-;-by 9. where $1 is current at 100 cts. S Ans. $555 555 cts. New-England Virginia, &c. ? Rule. x by 4 by 3, or + where $1 is equal to 6s.
Ans. 1661. 13s. 4d. New-York and N. Carolina, Rule. X by 16-= by 9, or +
where $1 is equal to 8s. Ans. 2221. 4s. 5d. 13 qrs. New-Jersey, Pennsylvania, &c.) Rule. Xby 5-;-by 3, or ;-by.6
where $1 is equal to 78. 6d. S Ans. 2081. 68. 8d. South-Carolina and Georgia, ? Rule. Xby 28---by 27, or+
where $1 is equal to 4s. 8d. S Ans. 1291. 12s. Taip II. To change federal money into sterling, where the dollar is
equal to 4s. 6d. GENERAL RULES As $1 : is to 4s. 6d. ::
So is the amount given in federal money : to the answer, or X by 9; by 40.
EXAMPLES. 2. Given $555 55 cts. federal money, to be changed into sterling, where the dollar is equal to 45. 6d. Ans. 1257.
3. Given 6371 75 cts. federal money: Required its equiv. alent amount in sterling ?
Ans. 831. 12s. 10 d. III. To change the currencies of the different states, into sterling,
where the dollar is equal to 4s. 6d. GENERAL RULE-Say, as the currency equal to $1: is to 4s. 6d. sterling :: So is the given amount in currency: to the answer in sterling.
EXAMPLE AND PARTICULAR RULES. 4. In sterling money, I demand the amount of 1001. currency of the states of Rule. Xby 3 - by 4, or -New-England, Virginia, &c.
Ans. 751. where the dollar is current at 6s 1001. currency of New-York, Rule. X by 9 ; by 16. and North-Carolina, where
Ans. 561. 58. the dollar is current at 8s. 1001. currency of New-Jersey, Pennsylvania, Delaware & Ma Rule. Xby 3;-by 5, or Xby .6 ryland, where the S is at 7s.6d.
601. 1001. currency of South-Car-) olina and Georgia, where the Rule. Xby 27-=-by 28, or, dollar is current at 4s. 8d.
Ans. 961. 83. 6d. 34 qrs. IV. To change English Guineas into federal money. RULE-Multiply the given amount in guineas by 14, and divide that product by 3: the quotient will be the answer in federal money.
EXAMPLE. 5. Given 162 guineas, to be changed into federal money : Required the amount ?
Ans. $756. V. To change federal money into guineas. RULE-Multiply the given amount in federal money by 3, and divide that product by 14, the quotient will be the answer.
EXAMPLE. 6. Given $756 to be changed into guineas : Required the amount !
A Table of Rates, and corresponding Ratio's for calculating Exchange above or below par. Rate o 1
Rules. For using the Table. 1.0025!1.005 1.0073
1. By the ratio for the rate, 1. (1.01 1.0125 1.015/1.0175 multiply the amount of the bili 2. 1.02! 1.0225 1.025 1.0275) when the exchange is above 3 1.031.0325|1.035j1.0375||par, and the product will be 4. 11.04 1.0425 1.048|1.0475||the value of the bill. 5. 11.051.052311.0551.0575 6. (1.061.0625 1.065 1.0675 II. By the ratio for the rate, 7. |1.071.0725 1.075 1.0775|divide the amount of the bili 8. 1.06 1.0828 1.085 1.0875|| when the exchange is below 9. 1.01.092 1.095 1.097 5||par, and the quotient will be 10. 11.1 1.1025 1.105 1.1075l the value of the bill. 11. 11.11 1.1123 1.115 1.1175 12. 11.12 1.122:11 125/11275
EXAMPLES. 7. If I draw on London for 7201. sterling, and negotiate my bill at 4* per cent above par, what have I to receive in federal money? 720x1.0475X40
Ans. 9 8. Bought a bill of exchange drawn on Glasgow, payable in London for 9361. sterling, 4 per cent below par, what sur have I to pay in federal money? 936X40
9x1.04 9. Suppose a factor to owe his merchant in Britain, neat proceeds amounting to $9645, required the amount of the sterling bill for that sum, admitting the remittance to be made at an exchange 5 per cent below par? 9645X1.05X9
=22781. 12s. 73d. Ans.
40 10. Having received $4912 for my draft of 10891. sterling on London, for the neat proceeds of a consignment of potash, at what exchange did I negotiate my bill ? 4912.6x9
-=1.015=1} per cent above par. Ans. 1089 x 40 11. Admit that I buy a bill of exchange on London for 4681. sterling, 3 per cent below par, which I remit to my agent, and some time afterwards, I valued on him for the same at an exchange 4 per cent above par: quere my gain in federal money?
Ana, $143 7810 cents..
EXCHANGE WITH IRELAND. In Ireland the money of account is the same as in England, but different in value. The par between England and Ireland is 84 per cent. Hence, 1001. sterling, is equal to 1081. 6s. 8d. Irish currency.
The United States dollar, is equal to 4s. 103d. Irish. 1. To change the currency of Ireland into that of the United States.
Rule-Multiply the Irish currency by 160, and divide the product by 39, the quotient will be the answer in dollars.
EXAMPLES 12. Given 7341. 38. 6d. being the amount of an invoice of linen from Belfast, to be changed into federal money.
$3012. 13. What is the federal value of an Irish invoice amounting to 1831. 103. 10}d.
Ans. $753. II. To change federal money into Irish currency. Rule-Multiply the dollars by 39, and divide the product by 160, the quotient will be the answer in Irish currency.
EXAMPLES. 14. Given 83012, the amount of an invoice from Belfast : Now tell me what it was originally in that currency?
Ans. 7341. 38. 6d. 15. Admit 8753 to be the federal value of an invoice from Ireland, what was the original amount thereof in that currency?
Ans. 1831. 10s. 101d. EXCHANGE WITH HOLLAND. In Holland accounts are kept in guilders, stivers and pennings, or, in pounds, schillings and pence, Flemish, by which name their money is distinguished.
s. d. Spennings, or 2 duytes 2 Si groat or penny,=0 0.542 2 groats or 16 pennings 1 stiver,
0 20 stivers or 40 pence
1 guilder or fiorin 1 9.86
Also, 12 groats or 6 stivers, S1 schilling,
0 6.56 20 schillings or 6 guilders (1 pound Flem. =10 11.18
par inster. parin ster.
The United States exchanges with Holland at 40 cts. more or less per guilder banco.
There are two sorts of money, viz: bank and current.-The bank money is generally rated from 3 to 6 per cent. bet. ter than the current. The difference between bank and curr rent money is called the agio.
I. To change current money to bank money. Rule.- As 100 +agio : is to 100: : So is the given sum in current money: to the answer in bank money.
EXAMPLES, 16. What will 3105 guilders, current money, amount to in bank money, the agio being 34 per cent ? Ans. 3000.
17. What will be the amount in bank money, of 227916 guilders, current money, when the agio is 3 per cent ?
Ans. 2210. II. To change bank money to current money. RULE-As 100: is to 100+ agio :: So is the given sum in bank money : to the answer in current money?
EXAMPLES. 18. What will be the amount in current money of 3000 guilders, bank money, the agio being 33 per cent ?
Ans. 3105. 19. What will 2210 guilders in bank money, amount to in current money, supposing the agio to be 3 per cent.
Ans. 2279 guil. 1 st. 4 pen. III. To change Flemish, pounds, schillings and pence, into
guilders. RULE-Reduce the given sum into pence Flemish, then divide by 40, and the quotient will be guilders.
EXAMPLES. 20. Exchange 2421. 138. 6d. Flemish, into guilders, stivers, &c.
Ans. 1456 guil. 1 stiv. 21. Change 8451. 178. 9d. Flemish, into guilders, &c.
Ans. 507 5 guild. 67 stio. IV. To change guilders into Flemish pounds, schillings, and
pence. RULE-Reduce the given sum in guilders into half stivers, which will be pence Flemish, this sum divided by 12 and 20 will quote the pounds, schillings and pence?
EXAMPLES. 22. Let 1456 guilders, 1 stiver, be changed into Flemish pounds, schillings and pence? Ans. 2421. 138. 6d.
23. What will 5075 guilders, 6 stivers amount to in pounds, schillings and pence, Flemish ? Ans. 8451, 17s. 9d.
V. To change guilders into federal money. Rule-Multiply the guilders by the rate of exchange : the product will be the answer in dollars.
EXAMPLES. 24. Suppose a merchant to sell a bill on Holland for 1625