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Case 2. To change sterling money into French.
As the rate of Exchange is to 1 crown: so is the sterling sum to the French required.
Note. The same rule must be observed with most of the following countries.
(1) What sterling money must be paid in London, to receive in Paris 500 crowns; exchange at 56d. per
(2) How many crowns must be paid at Paris, to receive in London 1167. 13s. 4d. the exchange at 56d. per crown? (3) Change 640 crowns, 12 sols, 8 deniers, at 54 d. per crown, into sterling.
(4) Change 1456. 7s. 7 d. sterling, into French crowns, exchange at 54 d. per crown,
2d. With SPAIN.
They keep their accounts at Madrid, Cadiz, and Seville, in dollars, rials, and maravedies, and exchange by the piece of eight, which is equal to 4s. 6d. at par.
4 Maravedies vellon, or
2 Maravedies plate
8 Quartas, or
34 Maravedies vellon
16 Quartas, or
34 Maravedies plate
8 Rials of plate
N. B. A rial vellon is of a rial of plate, and of a
(5) Change 8561. 68. 8d. into Spanish money, exchange at 56d. per piece of eight.
(6) If I pay in Seville 1426 pieces of eight, 4 rials, 26 maravedies, what may I draw my bill for on London, exchange at 544d. per piece of eight?
3d. With Italy,
In Italy they keep their accounts, at Genoa and Leghorn, in livres, sols, and deniers, and exchange by the piece of eight or dollar, which is equal to 4s. 6d. at par.
At Florence the exchange is by ducatoons, and at Venice by ducats, divided as follows, viz.
(7) Genoa is indebted to London 640 dollars.
much sterling may London draw on Genoa, the exchange at 52d. per dollar?
(8) If a merchant remit 1387. 13s. 4d. sterling to Leghorn, how many dollars will be receive there, the exchange at 52d. per dollar?
Note.-In St. George's bank, at Genoa, accounts are kept in piastres or pezzoes, which are divided into soldi and denari, as the pound sterling.
But some merchants keep their accounts in lires, or liras, soldi, and denari, divided as before. This money is only one fifth in value of the bank money.
(9) Change 8644 pez. into sterling money, exchange at 47 d. per pezzo.
(10) London is indebted to Genoa 1710l. 16s. 4d. For how many pezzoes may Genoa draw on London, the exchange at 47 d. per pez.?
4th. With PORTUGAL.
They keep their accounts in Lisbon, Oporto, &c. in reas, and exchange on the milrea; and London gives from 5s. to 5s. 6d. for the same.
(11) A merchant at Lisbon being desirous to remit to his correspondent at London 4760 milreas, exchange at
64d. per milrea, how much sterling must be paid in London?
(12) How many milreas will 15661. 6s. 8d. amount to, exchange at 64d. per milrea?
5th. With HOLLAND, FLANDERS, and GERMANY.
In these places, their accounts are kept sometimes in pounds, shillings, and pence, as in England; and sometimes in guilders, stivers, and pennings. The money of Holland and Flanders is distinguished by the name of Flemish, and the exchange is made with London, from 30 to 38 shillings Flemish, per pound sterling.
To change Flemish money into sterling; and, on the contrary, sterling into Flemish, is the same with that of France; only what was French there will be Flemish here.
To reduce Flemish pounds, shillings, and pence, into guilders.
Reduce them into pence Flemish, then divide by 40 (because 40d. are equal to one guilder), and the quotient will be guilders; and the remainder (if any) divide by 2 (because 2d. is equal to one stiver), and the quotient will be stivers.
(13) A merchant in Rotterdam remits 5647. 10s. 6d. Flemish, to be paid in London. How much sterling mo
ney must he draw for, exchange at 34s. 4d. per £. sterling?
(14) Suppose a merchant delivers in London 328l. 16s. 11 d. to receive the value at Amsterdam in Flemish money; how many pounds must he receive there, the exchange at 34s. 4d. Flemish per £. sterling.
(15) What may I draw my bill for on London, if I
pay in Antwerp 4200 guilders, 12 stivers, 8 pennings, exchange at 33s. 3d. Flemish per £. sterling?
(16) If I pay in London 4217. 2s. 3d. how many guilders may I draw my bill for at Antwerp, exchange at 33s. 3d. Flemish per L. sterling?
(17) Exchange 242l. 13s. 6d. Flemish into guilders, stivers,
6th. To change CURRENT MONEY into BANCO.
As 100 with the agio added to it is to 100 banco:: so is any given sum current to the banco required.
(18) Change 495 guilders, 18 stivers current, into banco florins, agio 5 per cent.
2. To change banco into current money.
As 100 guineas banco
it so is the banco given
is to 100 with the agio added to to the current required.
(19) Change 470 guilders, 8 stivers banco, into current, agio
at 5 per cent.
Note. The bank money is worth more than the current: their difference is called agio, and is from three to six per cent. in favour of the bank.
7th. With VENICE.
Money of exchange here is always understood to be that of ducats in bank, which is imaginary, 100 of which make 120 ducats current money; so that the difference betwixt bank and current money is an agio of 20 per cent. though the brokers have invented another agio to be added, which is more or less according to bargain.
The course of exchange of a ducat of the bank of Venice is from 45d. to 50d. sterling.
(20) Venice draws on London for 420 ducats, 10 sols, 8 den. banco, exchange at 47 per ducat. How much sterling will pay the draft?
8th. With POLAND and PRUSSIA.
Dantzic and Konigsberg exchange with London by way of Amsterdam and Hamburgh; 270 Polish grosh being=1. gross banco in Holland; 110 Polish grosh being
banco of Hamburg.
(21) Change 4684 florins into sterling money, 270 groshi Poli, per pound Flemish, and 34s. 4d. Flemish per £. sterling.
(22) Change 390. sterling into florins, the exchange being 33s. 4d. Flemish per £. sterling, and 270 groshi Poli per f. Flemish.