3. The Par of Exchange is that quantity of the money of one country which is intrinsically equal to a certain quantity of the money of another, whether real or imaginary. 4. The real money of every empire, kingdom, state, &c. signifies one piece, or more, of any kind of metal, coined by the authority of that empire, kingdom, state, &c. and current at a certain value by virtue of such authority. 5. The imaginary money is chiefly used in keeping accounts, and includes all the denominations made use of to express any sum of money, though no coin of that name may pass current, in the state, as the pound sterling, &c. 6. The Agio denotes the difference in foreign countries between the current, or cash money, and the exchange, or bank-money, the latter being compounded of a finer, or purer, metal than the former. Note. When current, or cash-money, is taken in payment, the merchants have an allowance of so much per cent. according to what exchange-money is worth more than the current-money. 7. Bank-notes, in the business of exchange, are such as are obtained from foreign bankers for money lodged in their bank. These are called bank-money. 8. Usance is a certain space of time allowed, by one country to another, for the payment of bills of exchange. It varies according to the custom of countries, and frequently in proportion to the distance of places from each other. Bills are either payable at sight, or so many days after sight; at usance, double usance, or half usance. The usance to England, from France, Holland, and Germany, is one month's date; from Spain and Portugal, two months' date: from Italy three months' date: 9. The days of grace are a certain number of days allowed for the payment of bills of exchange, after the expiration of the term specified in such bills, and are variable in different countries. In some countries no days of grace are allowed. The usual days of grace, in England, are three. It is not easy to fix the true par of exchange, on account of the fluctuation in the comparative value of gold and silver, and the alteration made in the value of the coins of different countries by edicts, laws, &c. The par is best ascertained from the custom and speculation of merchants at particular times, which may be termed the political par. See Tables XX, and XXI. following. Quotations are the lists of the courses of exchange, which are transmitted from one country to another for the use of merchants. These quotations which extend to all places in the commercial world, may be obtained at the Royal Exchange. Lloyd's list shews the quotation at London. Though the quotations are continually fluctuating, the deviation from the variable prices exhibited in the following tables is seldom very great. Writers on Exchange are very numerous; the principal are, Kruse of Hamburgh, Corbaux of France, and Dubost of London. The Hamburgh Contorist, by Kruse, is the most celebrated; an English translation of this valuable work has lately been published by Dr. Kelly, under the title of the Universal Cambist. The following Tables and Quotations have been carefully compared with the tables, &c. in the works mentioned above. In this edition, the different species of money which are not used in exchange, have been omitted, and the quotations have been added; these are the only alterations made in the tables. THE NECESSARY TABLES OF EXCHANGE. TABLE I. DENMARK. At Copenhagen, &c. the lowest piece of money is a Skilling. EXCHANGES are computed in Rix-dollars, Marcs, and Skillings Danish, and sometimes in Rix-dollars, Marcs, and Sols Lubs of Hamburgh. 16 Skillings 6 Marcs Danish = 3 Marcs Lub = 1 Marc 1 Rix-dollar Lub = 1 Sol Lub At Stockholm, &c. the lowest piece of money is a Runstic, EXCHANGES are generally computed in Rix-dollars, Skillings, and Fennings. At Petersburg, &c. the lowest piece of money is a Polusca, valued. sterling. Amsterdam ....................... 25 Stivers London Paris Vienna Gives to .... 28 Pence sterling....1 Rouble Constantinople ...... 50 Copecs ........1 Piastre TABLE IV. POLAND AND PRUSSIA. At Dantzic, &c. the lowest piece of money is a Fenning, valued. sterling. EXCHANGES are generally computed in Florins, Groshen, and Fennings. At Hamburgh the lowest piece of money is a Fenning, valued. sterling. EXCHANGES are computed in Marcs, Sols Lub, and Fennings; or in Pounds, Shillings, and Pence; also in Rix-dollars, Marcs, &c. .... variable. .25 Sols Lub ..... certain. for 1 Ecu of 3 Livres .80 Grots Flemish......1 Pezzo of 51 Lire ·33 Stivers.... ......... Vienna .................. .310 Florins. ...... .2 Marcs ......1 Marc 100 Rix-dollars TABLE VI. FRANCFORT ON THE MAIN, MANHEIM, &c. At Francfort the lowest piece of money is a Fenning, value fd. sterling. EXCHANGES are computed in Florins and Creutzers; or in Rixdollars and Creutzers; also in Florins and Batzen. 4 Fennings 4 Creutzers 60 Creutzers, or 15 Batzen Francfort gives to Amsterdam ...... Basil... = 1 Creutzer QUOTATION. variable. 1 Rix-dollar certain. 140 Rix. dollars....for 100 Rix-dollars current .101 Rix-dollars ...... 100 Rix-dollars bank 101 Rix-dollars ...... 100 New Ecu Bremen ........108 Rix-dollars...... 100 Rix-dollars ...... 79 Rix-dollars France ...................... ......... 60 Florius ........ 300 Livres 100 Rix-dollars bank ........ 100 Florins TABLE VII. VIENNA AND AUGSBERG. At Vienna, Augsburg, &c. the lowest piece of money is a Fenning, value d. sterling. EXCHANGES are computed in Florins, Creutzers, and Fennings; or in Rix-dollars and Creutzers. 4 Fennings 60 Creutzers 90 Creutzers, or 11⁄2 Florin = 1 Creutzer 1 Rix-dollar of Account At Augsburg 100 Florins of Exchange are equal to 127 Florins ....... 300 Rix-dollars .......100 Rix-dollars bank |