DUTIES. DUTIES are assessed upon articles imported into the country, at a certain rate per pound, hundred, ton, gallon, &c. without respect to the value of the articles; or upon articles according to their actual cost. The latter are called ad valorem duties. The duties are computed in the former case, on the most obvious principles, as will be seen in the following EXAMPLES. 1. Required the duty on 987 of chocolate at 3 cents per pound. 3 $29.61 cents, Ans. 2. If the duty on molasses is 5 cents on a gallon when imported in an American vessel, and 10 per cent. more in a foreign vessel, what is the duty on 3950 gallons in both vessels ? Ans. $197.50, and $217.25. 3. Required the duty on 10Cwt. 3qrs. 14 of cordage at $2.25 per Cwt. in an American vessel, and at 10 per cent. more in a foreign vessel? Ans. $24-47 nearly, and $26.81. 4. What is the duty on 6hhds. of brown sugar, weighing 53Cwt. 2qrs. 20 tare 12 per 100, at 24cts. per pound in an American vessel, and at 10 per cent. more in a foreign vessel? Ans. $132, and $145.20. Duties ad valorem are estimated by adding 20 per cent. to the actual cost of the goods, &c. when imported from or beyond the Cape of Good Hope, and 10 per cent. when imported from any other places. Insurance, commission, &c. do not belong to the actual cost. The duties are computed in the following obvious manner. When the cost is reduced, to Federal Money, add the per cent. to the cost, and then find the duty per cent. ad valorem. EXAMPLES. 1. What will be the duty on an invoice of goods, which cost £786 15. sterling, at 15 per cent. ad valorem when imported in an American vessel, or at 10 per cent. more when imported in a foreign vessel from England?" 2. What is the duty on goods, which cost in India, $2780-50, imported in an American ship, at 12 per cent. ad valorem? Ans. $417-075. BARTER IS the exchanging of one commodity for another, and teaches traders to proportion their quantities without loss.* CASE I. When the quantity of one commodity is given, with its value, or that of its integer, that is, of lib. 1cwt. lyd. &c. as also the value of the integer of some other commodity, to be given for it, to find the quantity of this; or, having the quantity thereof given, to find the rate of selling it. RULE. Find the value of the given quantity by the concisest method, then find what quantity of the other, at the rate proposed, you may have for the same money: Or, if the quantity be given, find from thence the rate of selling it. Or, As the quantity of one article is to its price, so, inversely, is the quantity of the other to its price. Or, as the price of one article is to its quantity; so inversely, is the price of the other to its quantity. EXAMPLES. 1. How much tea at 9s. 6d. per must be given in barter for 156 gallons of wine, at 12s. 31d. per gallon? Or, As 12 31: 156; 96: 201 13,54 Ans. as before. The Rules in Barter are only applications of the Rule of Three, and are casily understood. 2. How much cloth, at 15s. 8d. per yard, must be given for 5cwt. 3qrs. 19lbs. of steel, at 5 guineas per cwt? Ans. 52yds. 3qrs. 2n. 3. Suppose A has 350 yards of linen, at 25c. per yard, which he would barter with B for sugar, at $5 per cwt. How much sugar will the linen come to ? Ans. 17cwt. 2 qrs. 4. A has broadcloths at $44 per piece, and B has mace, at $1 42c. per : How many pounds of mace must B give A for 35 pieces of cloth? Ans. 10841. 5. A has 7 cwt. of sugar at 12 cents per for which B gave him 12 cwt. of flour: What was the flour rated at per ? Ans. 7c. 2m. CASE II. If the quantites of two commodities be given, and the rate of selling them, to find, in case of inequality, how much of some other commodity must be given. Find the separate values of the two commodities; subtract the ess from the greater, and the difference will be the amount of he third commodity, whose quality and rate may be easily found. EXAMPLES. 1. Two merchants barter; A has 30cwt. of cheese, at 23s. 6d. per cwt. and B has 9 pieces of broadcloth, at 31. 15s. per piece: Which must receive money and how much? Ans. B must pay A £1 10s. 2. A and B would barter; A has 150 bushels of wheat, at $1 25c. per bushel, for which B gives 65 bushels of barley, worth 624c. per bushel, and the balance in oats at 374c. per bushel: What quantity of oats must A receive from B? Ans. 391 bushels. CASE III. Sometimes, in bartering, one commodity is rated above the ready money price; then, to find the bartering price of the other, say, As the ready money price of the one, is to its bartering price; so is that of the other, to its bartering price: Next, find the quantiy required, according to either the bartering or ready money price. EXAMPLES. 1. A has ribbands at 2s. per yard ready money; but in barter he will have 2s. 3d. B has broadcloths at 32s. 6d. per yard ready money; at what rate must B value his cloth per yard, to be equivalent to A's bartering price, and how many yards of ribband, at 2s. 3d. per yard, must then be given by A for 488 yards of B's broadcloth ? Ans. B's broadcloth, at £1 16s. 6d. per yd. 7930 yds. ribband. 2. A and B barter; A has 150 gallons of brandy, at $1 371c. per gallon ready money, but in barter he will have $1 50c.; B has linen at 44c. per yard ready money; how must B sell his linen per yard in proportion to A's bartering price, and how many yards are equal to A's brandy? Ans. barter price is 48c. and he must give A 468yds. 3qrs. 3. P and Q barter; P has Irish linen, at 60c. per yard, but in barter he will have 64c. Q delivers him broadcloth at $6 per yard, worth only $5 50c. per yard: Pray which has the advantage in barter, and how much linen does P give Q for 148 yards of broadcloth? C. As 60 5 86%; therefore Q by selling at $6 has C. $ c. $ c. the advantage. $ yds. C. yds. qrs. As 6: 148: 64: 1387 2 linen, Ans. 4. A bas 200 yards of linen, at is. 6d. ready money per yard, which he barters with B, at 1s. 9d. per yard, taking buttons at 74d. per gross, which are worth but 6d. ; How many gross of buttons will pay for the linen, who gets the best bargain, and by how much, both in the whole, and per cent. ? Ya. d. Yds. d. d. Gross. d. Gross. Yd. d. Yds. £ As 1: 21 :: 200: 4200. As 7:1:: 4200: 560. As 1: 18 :: 200: 15. gr. d. gr. £ [value of A's linen. Aş 16: 560: 14 value of B's goods. So that B gains 11. of A. £ £ £ £ s. d. As 14: 1 :: 100: 7 2 10 per cent. 5. A has linen cloth, at 30c. per yard, ready money, in barter 36c. B has 3610 yards of ribband, at 22c. per yard ready money, and would have of A $200 in ready money, and the rest in linen cloth; what rate does the ribband bear in barter per yard, and how much linen must A give B? Ans. The rate of ribband is 26c. 4m. per yard, and B must receive 1980 yards of linen, and $200 in cash. LOSS AND GAIN IS an excellent rule, by which merchants and traders discover their profit, or loss per cent. or by the gross: It also instructs them to raise or fall the price of their goods, so as to gain or lose so much per cent, &c. The rules are only particular applications of the Rule of Three. CASE I. To know what is gained or lost per cent. RULE. First see what the gain or loss is, by subtraction; then, as the price it cost, is to the gain or loss: so is 1001. to the gain or loss per cent. Or, in federal money, annex two cyphers to the gain or loss, and divide by the cost for the gain or loss per cent. EXAMPLES. 1. If I buy serge at 90c. per yard, and sell it again at $1 2c. per yard: What do I gain per cent. or in laying out $100? C. C. $ $ Sold for $1.02 As 90: 12 :: 100: 13 per cent. gain, Ans. ⚫90 Gain .12 per yard. Or, 1·02-90=12-gain per yard; and 12.00 •9 13 per cent. gain, [as before. N. B. The first questions in the several cases, serve to elucidate each other. 2. If I buy serge at $1 2c. per yard, and sell it again at 90c. per yard: What do I lose per cent. or in laying out $100? $ c. $ c. C. $ $ c. m. : Cost 102 As 1 02 12 :: 100: 11 76 5 per cent. loss, Ans. Sold for Loss 90. ⚫12 Or, 12.00 11.765 per cent. loss, Ans. as before. 3. If I buy a cwt. of tobacco for £9 6s. 8d. and sell it again at is. 10d. per i do I gain or lose, and what per cent.? ዜ 112 £ 24.11 4 value at 2s. per . 0 18 8 gained in the gross. 0 18 8 value at 2d. per . 10 5 4 value at 1s. 10d. per b. £ s. d. 8. d. £ £ As 9 6 8 18 8 :: 100: 10 Ans. 10 per cent. gain. 4. A draper bought 60 yards of cloth at $4 50c. per yard, and 38 yards of cloth at $2 50c. per yard, and sold them, one with another, at $4 25c. per yard: Did he gain or lose, and what per which subtract from 98yds. at $4 25c.=416-50 $ $ c. $ 5150.00 Then, as 365: 51-50 :: 100: $ c. 365 51.50 =14.11 gain per cent. Ans. 5. Bought sugar at 6d. per ib and sold it at £2 3s. 9d. per cwt. What was the gain or loss per cent.? d. #b £ s. d. As 16: 112: 3 0 8 |