Spain.

4 Marvadies Vellon,or 1 Quarta,

2 Marvadies of plate
ε Quartas, or
34 Marvadies Vellon
16 Quartas, or
34 Marvadies of plate
8 Rials of plate
10 Rials of plate
5 Piastres

Italy.

1 Rial Vellor,

1 Rial of plate,

1 Piastre,

1 Dollar,

1 Spanish Pistole.

do.

at Leghorn,

A stiver is estimated at 2 eents; 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 ascertained by the table at page 65.

EXAMPLES.

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

Ans. 899 L. 5 s. 44 d.

As 164 1474 16 :: 100 : 899 5 44

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

3 of Philadelphia is indebted to D of London 750. 2 s. 1 d. sterling; how much Pennsylvania currency will discharge the debt, exchange being at 78 per cent? Ans. 1335 L. 4 s. 24 d. 4. How much sterling is equal to 1341 L. 9 s. 4 d., Pennsylvania currency, exchange being at 67 per cept.? Ans. SCO L. 17 s. 64 d.

5.

Philadelphia.

Exchange for 452 L. 10 s. 6 d. Thirty days after sight of this my first of exchange, second and third of like tenor and date not paid, pay to Samuel Sims, or order, four hundred and fifty-two pounds, ten shillings, and sixpence sterling, value received, which place to account of Peter Simpson.

To Samuel Jones, merchant,

London.

What is the value of this bill in Pennsylvania currency, exchange at 77 per cent.?

Ans. 803 L. 4 s. 7 d.

6. M of Philadelphia owes P of London 1474 dol. lars 80 cents; how much sterling must be remitted, when exchange is at par?

cls. dols.cts.

s. d. L. s. d.

As 100 1474.80 :: 4 6: 331 16 7. Ans. 7. What sum sterling is equal to 260 L. 8 s. 6 d. Virginia currency; exchange 44 per cent.?

Ans. 180 L. 17 s. 8. M of Dublin draws upon M of London for 740 L. 14 s. 6 d. Irish; exchange at 12 per cent.: how much sterling will discharge this bill? Ans. 661 L. 7 s. 24 d. 9. P of London remits to G of Ireland 651 L. 14 s. 11 d. sterling; with how much Irish must P be credited, exchange being at 12 per cent.?

Ans. 729 L. 19 s. 2 d. 10. Purchased in Ireland goods to the value of 400 L. 17 s. 9 d. Irish; what sum Pennsylvania currency will discharge the debt, exchange being at 514 per cent.? Ans. 607 L. 6 s. 10 d.

11. B of Jamaica is indebted to C of London 1470 L. 12 s. 8 d. sterling; with how much currency will C be credited at Jamaica, when exchange is at 364 per cent.? Ans. 2007 L. 8 s. 34 d.

12. D of Jamaica is indebted to E of London 806 L. 5 s. sterling; with how much currency must E be credit'ed in Jamaica, when the exchange is at 35 per cent.? Ans. 1088 L. 8 s. 9 d.

13. P of Philadelphia received of A of Amsterdam, an invoice of goods amounting to 10235 florins, 17 stiveis, 8 pennings; what sum of Fennsylvania curi ency will discharge the bill, at 354 d. per florin? and what is

M

Ans. {

the sum in sterling, exchange at 38 s. 6 d. Flemish per L. sterling? 1503 L. 7 s. 10 d. currency. 886 L. 4 s. 5 d. sterling. 14. A merchant in Rotterdam has a bill drawn on him for 673 L. 16 s. 8 d. sterling, exchange at 33 s. 4 d. Flem. per pound sterling; how much Flemish must he pay? Ans. 1123 L. 1 s. 14 d. 15. A Connecticut merchant imported goods from France, amounting, per invoice, to 49008 livres; how much currency of that state, at 15 d. per livre, will they amount to? Ans. 3063 L. currency. Philadelphia,

16.

Exchange for 4226 livres, 12 sols, 8 deniers. Thirty days after sight of this my second of exchange, (first of the same tenor and date not paid) pay to Thomas Broker, or order, four thousand two hundred and twenty-six livres, twelve sols, and eight deniers, value received; which place to account of

Silas Stroud.

How much sterling is the above bill, at 10 d. per livre; and how much Pennsylvania currency, at 17 d. per livre? 184 L. 18s. 3 d. sterling. Ans. 303 L. 3s. 104. currency. 17. What sum Pennsylvania currency is equal to 2524 piastres, 7 rials, 33 marv. at 7 s. 6 d. per piastre? Ans. 946 L. 17 s. 5 d.

15. A merchant of North Carolina shipped a quantity of flour, which, when disposed of, amounted to 1186 milireas, 500 reas; and received in return 17 pipes of wine; how much was the wine per pipe, a millrea reckoned at 7 s. 6 d. Áns. 26 L. 3 s. 54 d. 19. A Virginia merchant sent goods to Norway, worth 17431. 16s. Virginia currency; how many rix dollars, at 6s. each, must he receive?

--

Ans. 5812 dols. 4 s. Note. To change bank into current money say: As 100 bank, is to 100 with the agio added; so is the bank given, to the current required.

To change current money into bank say: As 100 with the agio added, is to 100; so is the current given, to the bank required.

20. Change 794 guilders, 15 stivers, current money, into bank florins, agio 43 per cent.

Result 761 guild. 8 stiv. 11 pennings.

21. Change 761 guilders, 9 stivers bank, into current money, agio 4 per cent.

Result 794 guild. 15 stiv. 4 pennings. 22. A merchant in Holland wishes to change 4376 florins currency into bank, the agio at 4 per cent.; how many pounds Flemish bank must he receive?

Ans. 701 I.. 1 flo. 13 stiv. 13 pen.

23. In 290 L. 11 s. 10 d., sterling, how many pounds Flemish; exchange at 33s. 10d. Flemish bank per pound sterling, and agio at 44 per cent.? Ans. 513L. 14s. 1 d.

24. A merchant in Philadelphia receives from London a parcel of goods, charged in the invoice at 450 L. 10 s. sterling, which he immediately sells at an advance of 78 per cent.; what is the amount in Pennsylvania currency; also in Federal money?

Ans. S801 L. 17 s. 94 d.

2138 dols. 37 cts. 25. Amsterdam changes on London 34 s. 3 d. per L. sterling, and on Lisbon, at 52 d. Flemish for 400 reas; how then ought the exchange to go between London and Lisbon? Ans. 75 d.+sterling per millrea.

VULGAR FRACTIONS.

A vulgar fraction is a part, or parts of a unit or integer expressed by two numbers, placed one above the other, with a line drawn between them; as one fourth, two thirds.

The number above the line is called the numerator, and that below the line the denominator.

The denominator denotes the part, and the numerator informs how many of that part are designed to be expressed.

Vulgar fractions are either proper, improper, compound, or mixed.

A proper fraction is that of which the numerator is less than the denominator; as 1, 4, 1, &c.