TABLE XVII. EAST-INDIA SETTLEMENTS AND CANTON, 1. At Bengal, accounts are kept in imaginary Coins, called Current Rupees, Annas, and Pice. 12 Current Pice 16 Current Annas 100 Sicca Rupees 1 Current Anna All real specie must be reduced to this currency, before any sum can be entered into books of accounts. 2. At Madras, accounts are kept in Star Pagodas, Fanams, and Cash. Cash pieces are small copper coins struck in England, and sent to Madras for general circulation. The value is marked upon each piece. The European merchants at Madras keep their accounts at 12 Fanams the Rupee, and 42 Fanams the Star Pagoda; and the Natives at 12 Fanams 60 Cash the Rupee, and 44 Fanams 50 Cash the Star Pagoda. 3. At Bombay, accounts are kept in Rupees, Quarters, and Reis. 1 Quarter 1 Rupee 100 Reis 4 Quarters = The Coins real and imaginary are various at Bombay, but Accounts are confined to those above specified. 4. At Canton there is but one piece of Coin, made of base metal called a Cash. It is used to pay coolies, labourers, and for small payments in Bazars. TABLE XVIII. NEW YORK, PHILADELPHIA, BALTIMORE, &C. At New York, Philadelphia, &c. EXCHANGES are computed in Dollars, Dimes, and Cents; and in some places in Pounds, Shillings, and Pence. At London, &c. EXCHANGES are computed in Pounds, Shillings and Pence. See the Table, p. 18. QUOTATION, or Lloyd's List, Sept. 22, 1818. Venice ... 25 Lire Piccoli .£1 sterling 9 per cent. viz. £1094 Irish for £100 sterling .47 Pence sterling ...51 ......... Lisbon.. ......... 43 Pence sterling 58 Penee sterling 381 Pence sterling N. B. The words in Italics are generally omitted in Lloyd's List : they are inserted here by way of explanation. R Table XX. The intrinsic par of Exchange between London and the following places in Lloyd's List; calculated according to the Mint regulations of each respective place, by comparingGold withGold, and Silver with Silver. Gold. Silver. Amsterdam cur.37sh. 4-9d. Flemish; 38sh. 1d. Flemish value. £1 sterling Agio 4 per cent.35sh.11.6d Flemish; 36sh. 7.5d. Flemish 1 sterling Rotterdam cur. 11 Florins 4.5 Stiv.; 11 Florins 8.5 Stiv. £1 sterling Hamburgh Bank 34 sh.3.5d. Flemish; S5sh. 1d. Flemish =£1 sterling Paris, Old Coins 25 Liv.9 sol.11den.;25 Liv. 1 sol. 9 den-£1 sterling Paris, New Coins 25 Liv. 10 sol.6den.; 25 Liv. 0 Sol. 94 den. £1 sterling 25 Francs 21 Cents; 24 Francs 73 Cents. £1 sterling 4552Pence sterling;46 Pence sterling Paris Genoa Leghorn Naples Lisbon 49.09 Pence sterl.; 46.67 Pence sterl. Venice Madrid&Cadiz 37.3 Pence sterl; 39.22 Pence sterl. 46.28 Lire Piccoli;47-5 Líre Piccoli Table XXI. = The intrinsic par of Exchange between London and the following places in Lloyd's List; calculated from assays lately made both in London and Paris, by comparing Gold with Gold, and Silver with Silver. Gold. Silver. Amsterdam cur.37sh. 4d. Flemish ;38sh. 74d. Flemish Amsterdam Bank value. £1 sterling £1 sterling 1 sterling £1 sterling Agio 4 per cent.35sh.10-8d Flemish;37sh. 17d. Flemish Rotterdam cur. 11 Florins 4Stivers; 11 Florins 14 Stiv. Hamburgh Bank34sh. 2·4d.Flemish;35sh. 1d. Flemish Paris, Old Coins 25 Liv. 9 sol.9 den.;25 Liv. 9 sol. 9 den.£1 sterling Paris, NewCoins25 Liv 11sol.6.2den;25 Liv. 3 sol.7 den.£1 sterling 25 Francs 26 Cents; 24 Francs 87 Čents.£1 sterling 45.52 Pence sterl. ;45.82 Pence sterl. 49.05 Pence sterl, ;46.57 Pence sterl. Paris Genoa Leghorn Naples 42. Pence sterl.; 41-25 Pence sterl. 66.5 Pence sterl.;68-4 Pence sterl. Madrid & Cadiz36.05 Pence sterl. ;39 Pence sterl. Venice 1 Pez.51 Lire S1 Pezzo of 28 Rials =1Duc.Regno 1 Mille-Reis 1Dol.of Plate 46.38 Lire Piccoli;48.9 Lire Piccoli 1 sterling = From the two preceding tables it appears that the par in gold generally varies from that in silver, and in some places the difference is considerable; but the assays do not differ essentially from the Mint regulations, The commercial par is the comparative value of the Coins of different countries, according to their weight, fineness, and the market price of the metals of which they are composed. If a sum of money in the currency of any state will buy a pound of bullion in the market of that state, and also purchase a bill for a sum of Englisa currency, which, currency or bill, would buy a pound of bullion of the same standard in the English market, a complete commercial par of exchange is established between the two countries. RULES FOR CALCULATING WHAT QUANTITY OF THE MONEY OF ONE COUNTRY WILL BE EQUAL TO A GIVEN QUANTITY OF THE MONEY OF ANOTHER, ACCORDING TO A GIVEN COURSE OF EXCHANGE. CLASS I. Places which give the uncertain price of exchange for the pound sterling. These are HAMBURGH, AMSTERDAM, SWEDEN, Dantzic, VIENNA, VENICE, FRANCE, &C. Proposition I. To reduce the currency of any state into bank or exchange money, and the contrary. Rule. As 100, with the agio added to it, is to 100, so is any given sum current to its value in bank-money. And, As 100 is to 100 with the agio added to it, so is any given sum of bank-money to its value current. Note. The exchange is always supposed to be made in bank money, and, therefore, the currency of any state or kingdom, which uses this denomination of money, must always be reduced to bank-money before exchange can be made. Prop. II. Given the course of exchange between Great Britain and any foreign country, city, &c. which exchanges for the pound sterling, to change any given quantity of sterling money into the money of that country, &c. Rule. As 1. sterling is to the given course of exchange, so is the given sum, in sterling money, to its corresponding value in foreign money. Note. Whenever the first term of a stating is 1, as in this proposition, the work may be performed by Practice. Prop. III. Given the course of exchange to or from any foreign country, city, &c. which exchanges with Great Britain for the pound sterling, to change any given quantity of such foreign money into sterling money. Rule. As the course of exchange is to £1. sterling, so is the given sum, in foreign money, to its correspond. ing value in sterling money. CLASS II. Places which give the certain species of their money for an uncertain number of pence sterling. These are RUSSIA, SPAIN, PORTUGAL, ITALY, &c. and almost every other place in the world, with which exchanges are made, except those already mentioned in Class I. and those which belong to Class III. Prop. IV. Given the course of exchange between Great Britain and any foreign country, city, &c. which exchanges for any number of pence sterling, to change any quantity of sterling money into the money of that country, &c. Rule. As the number of pence sterling, contained in the course of exchange, is to the integer of foreign money, so is the given sum, in sterling money, to its corresponding value in foreign money. Prop. V. Given the course of exchange between Great Britain and any foreign country, city, &c. which exchanges for any number of pence sterling, to change any quantity of such foreign money into sterling. Rule. As the integer of foreign money is to the number of pence contained in the course of exchange, so is the given quantity of foreign money to its corresponding value in sterling money. CLASS III. Places which exchange with GREAT BRITAIN at an advanced rate per cent. These are the ISLES of MAN and IRELAND, the WESTINDIA ISLANDS, and Part of NORTH AMERica. Prop. VI. Given the course of exchange between Great Britain and any place which gives a variable sum of money, more than 100l. for 100l. sterling, to change any quantity of sterling money into the currency of that place. Rule. As 100%. sterling is to 1007. with the course of exchange per cent. added to it, so is the given sterling money to the currency required. Note. In this and the following rule, by the course of exchange must be understood the excess of the currency above 1001. Thus, if 1001. sterling be worth 1101. currency, the exchange is at 10 per cent. This excess, were it authorised by custom, might be called the agie. |