EXCHANGE;

OR, THE REDUCTION OF CURRENCIES.

EXCHANGE teaches to find the equivalent value of money in different countries. Accounts are kept in England, Ireland, and the English West India Islands in pounds, shillings, pence, and farthings; though their intrinsic value in these places are different. Exchange is said to be at par between two countries, when the money given in one is equivalent in intrinsic value to that received for it in another. The course of Exchange is freqently above or below par. The following tables show the par value of foreign moneys in the United States. Agio is a term used in some countries, to signify the difference between bank and current money.

TABLE 1.

Of Foreign coins, &c. with their value in Federal money, as established by a late act of Congress.

The Guilder of the United Netherlands,

Mark Banco of Hamburgh,

Livre Tournois of France,

Real Plate of Spain,

According to a late act of Congress of the United States, all foreign coins are prohibited being a lawful tender. The gold coins of Great Britain and Portugal, of their present standard, are valued at the rate of 100 cents for every 27 grs. or 888 cts. per dwt. The gold coins of France, of their present standard, are to be valued at the rate of 100 cents for 27 grs. or 874 cts. per dwt. The gold coins of Spain, of their present standard, are valued at the rate of 100 cts. for 28 grs. or 84 cts. per dwt.

TABLE 2.

Coins current in the United States, with their Sterling and Federal Value.

0

6 8

0

8

9

08 3

05 0

1 10 0

TABLE 3.

Exhibiting the value of a Dollar in each of the United States, &c.

Subtract one 16th.

Dollar 8 s. 0 d.

Add, that
and that

Multiply by 12
and divide by 7.

NOTE.

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

TABLE 4.

Showing the value of pounds, shillings, and pence in dollars and cents, according to the respective currencies in each of the United States.

8.3

40 cts. s. 2-25 cts. s. 3=50 cts. s.7-150 cts. d. 9=10 cts.|d.24=25 cts.|d.18=25 cts. d.14=25 cts.

TABLE 5.

Showing the number of pounds (£'s) equivalent in value in the several states, according to their respective curren

New Jersey,
Pennsylvania,

15

5

Delaware, and

Maryland. New England States and Virginia. New York and

}

45

4 =

=

16 New York and North Carolina.
4 New England and Virginia.
48 South Carolina. and Georgia.

5 New Jersey, Pennsylvania, &c. 3 4 New York and North Carolina. 9 7 South Carolina and Georgia 1615 New Jersey, Pennsylvania, &c. 4 3 New England and Virginia.

12

N. Carolina.

S. Carolina and Georgia.

28

=

7 South Carolina and Georgia.

45 New Jersey, Pennsylvania, &c. 7 = 12 New York and North Carolina. 79 New England and Virginia.

DOMESTIC EXCHANGE.

To reduce sterling money to federal money, or the currencies of one state to that of another, proceed by the following

RULE.

Draw the perpendicular line, and write down the demand on the left, and the given equivalent sum or number directly opposite on the right; then place underneath the equivalent values, (given in the preceding tables,) between the denominations given, and that required, and proceed as taught under Equations.

NOTE.-When the sum or number given is a compound quantity, reduce it to the lowest denomination.

EXAMPLES.

In New Jersey, or Pennsylvania currency. 1. Reduce 1575 pence to cents.

How many cts. 1575 pence.

d. 9

10 cts.

915750

1750 cts. Ans.

NOTE. We find in table 4, that in New Jersey or Penn

$728 to pounds.

Ans. £273.

Ans. $973.22 ×

6. Reduce £546 to dollars.

7.

8.

£218 19 s. 6 d. sterling to federal money.

9. Reduce £63 15 s. New England or Virginia currency, to federal money, the dollar being 6 s.

Ans. $212.20. 10. What sum, Pennsylvania currency, is equal to £120 10 s. in North Carolina? Ans. £112 19 s. 4 d. 11. What sum in Georgia, is equal to £900 New England currency? Ans. £700.

12. A manufacturer in New England consigns to his agent in North Carolina a quantity of cotton goods; which, when sold, and the charges deducted, amounts to £625 6 s. What is the value thereof in New England currency, and also in federal money?

Ans.

{

£468 19 s. 6 d. New Eng. cur. $1563.25 federal money.

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