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RULE. 1. If draft or scalage be allowed, cast and deduct it as directed in Case 1st.

2. Multiply the tare of one by the number of boxes, chests, &c. the product will be the whole tare, which subtract from what remained after the scalage was deducted, or from the whole gross weight, when no scalage is allowed, and the remainder will be the net weight.

EXAMPLE.

1. What is the net weight and value of 4 casks of raisins weighing 520 lbs. gross, tare 12 lbs. per cask, allowing 3 per cent. for draft or scalage, at 74 cents per pound ?

469 lbs. net weight. Ans.

$35.175 value.

CASE III.

To find the net weight of goods, when the real or actual tare is allowed..

RULE.

Subtract the whole amount of tare from the whole gross weight, and the remainder will be the net weight.

EXAMPLES.

1. What is the net weight and value of 50 boxes of figs, weighing 1200 lbs. gross, whole amouot of tare 175 lbs. with an allowance of} per cept. for scalage, at •10 cents per pound ?

1069 lbs. net weight. Ans.

$106.90 valve.

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per bo. draft a

2. What is the net weight and value of 4 firkins of butter, weigh-
as follows:

No. 1, gross 75 lbs. tare 12 lbs.
2, do.

83 lbs. do. 14 lbs.
3, do. 98 lbs. do. 17 lbs.
4, do. 120 lbs. do. 21 lbs.
at •15 cents per pound ?

312 lbs. net weight.

Ans. 2346-80 value.

nund, are not be reckoned.

hat is the rule, when the tare is at so much per hox, &c. either with or without

-264. How do you find the weight of goods, when the real tare is allowed?

so much per

AMERICAN DUTIES.

Duties are imposed by law on goods, wares, and merchandise, imported into the United States, at certain rates per centum ad valorem, or at certain rates per ton, hundred, pound, gallon, &c.

The ad valorem rates of duty upon goods, wares and merchandise, are estimated by adding 20 per cent. to the actual cost thereof, if imported from the Cape of Good Hope, or from any place beyond it ; and 10 per cent. if imported from any other place or country, including all charges ; commissions, outside packages, and insurance excepted.

CASE I.

To find the duty on any amount of goods, wares or merchandise, at

any given rate per centum ad valorem.

Rule.--Reduce the cost of the goods to Federal money, add 20 per cent. if imported from or beyond the Cape of Good Hope, or 10 per cent. if imported from any other place, then multiply the amount by the given rate per cent. and divide the product by 100, the quotient will be the duty required.

EXAMPLES.

1. What will be the duty on an invoice of woollen goods, imported from London, which cost £1250 10s. sterling, at 30 per cent, ad valerem?

£1250.5 sterling, cost.

$4:44=£1 sterling *

50020 50020 50020

$5552.220 actual cost in Federal Money

555.222 ten percent. added.

$6107.442 amount.

30

Ans. $1832.23260 duty required.

* The rates at which foreign coins and currencies are estimated at the Custom Houses of the United States may be found on page 39.

265. How are duties imposed upon imported goods ?- -266. In what manner are the ad valorem rates estimated ?- -267. What is the rule for finding the duty 07 ny amount, at a given rate per cent, ad valorem ?

2. What will be the duty on an invoice of silk goods, imported from France, which cost 2650 Francs, at 20 per cent. ad valorem?

Ans. $109.314

3. What will be the duty on an invoice of silk and cotton goods, imported from India, which cost 25000 rupees at 25 per cent. ad væ lorem ?

Ans. $3750.

CASE II.

To find the duty on any amount of goods, wares, or merchandize, at

any given rate per pound, gallon, &c.

Rule.-Multiply the given rate per pound, gallon, &c. by the number of pounds, gallons, &c. and the product will be the duty required.

EXAMPLES.

1. What will be the duty on 150 chests of Hyson tea imported di rect from China in a vessel of the United States, weighing gross 11250 lbs. tare 20 lbs. per chest, at 40 cents per pound ?

Ans. $33C0.

2. What will be the duty on 20 pipes of French brandy, 4th proof, containing 2520 gallons, al 48 cents per gallon ?

Ans. $1209.60.

3. What will be the duty on 25 hogsbeads of brown sugar, weighing 43750 lbs. gross, allowing 12 per cent. tare, and 7 pounds per hogshead for draft or scalage, at 03 cents per pound ?

Ans. $1150.38.

DISCOUNT.

Discount is an allowance made for the payment of any sum of money belore it becomes due ; or it is the difference between any sum due at some future time, and its present worth.

The present worlh of any sum, or debt, due at any future time, is such a sum, as if put at interest, would in that time and at the rate per cent, for which the discount is to be made, amount to the given sum or debt. 268. How do you find the duty, at any given rate per pound, sfc. ?

-269.

What is Discount? -270. What is the present worth of a sum due ato

future time ? W

RULE. 1. As the amount of $100 or £100 at a given rate and time, is to the interest of $100 or £100 at the same rate and time, so is the given sum to the discount

Subtract the discount from the given sum, and the remainder is the present worth.

2. As the amount of $100 or £100 at the given rate and time, is to $100 or £100, so is the given sum to the present worth.

Subtract the present worth from the given sum, and the remainder is the discount. *

EXAMPLES,

1. What is the discount and present worth of $500 payable in & months, allowing discount at 6 per cent. per annum ? By Rule 1.

By rule 2. $

$ $ 100

100 Int. for 8 mo. 4

Int. for 8 mo. 4

Amount 104

Amount 104 $ 密 $

$ $ 4 104 : 4:: 500

104 : 100 :: 500 500

500 $ c.

$ c. 104)2000(13.231'3 discount. 104950000(480.761 present worth. 104

416 480.761 pres. worth.

19.231's discount. 960

840 936

832

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* That an allowance ought to be made for the payment of money before it becomes due, which is supposed to bear no interest until after it is due, is very reasonable ; and this allowance ought to be such a sum, as, being put at interest until the debt becomes due, would amount to the interest of the debt for the same time.

The reason of the rule is evident from the nature of simple interest; for since the debt may be considered as the amount of some principal (called here the present worth) at a certain rate per cent for the given time, that amount must be in the same proportion either to its principal or interest, as the amount of any other sum at the same rate and for the same time, is to its principal or interest.

271. What are the rules of Discount? - 272. What are the reasons upon whick they are

founded ?

2. What is the present worth of £150 payable in 3 months, allowing discount al 5 per ceat. per annum

?

dos. £ 148 2s. 11d. 23 qrs.

Note.—The only correct principle of calculating discount is by the preceding rule ; yet banks and commercial persons, in discounting notes, &c. deduct the interest for the time (including the days of grace) for the discount. When discount is made for present payment without any regard to time, the interest of the sum for one year is the discount.

BARTER.

Barter is the exchanging of one commodity for another, and teaches merchants so to proportion their quantities, that neither shall sustain loss.*

PROOF.-By changing the order of the question.

RULE.

When the quantity of one commodity is given with its value or the value of its integer, as also the value of the integer of some other commodity to be exchanged for it, to find the quantity

of this commodity. Find the value of the commodity of which the quantity is given, then find how much of the other commodity at the rate proposed may

be had for that sum.

When the quantities of two commodities are 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 given commodities ; subtract the less from the greater, and the difference will be the amount of the third commodity, whose quality and rate may be easily found.

2.

* The rules of Bartor are merely applications of the Rule of Three, and are easily understood.

273. What is Barter ? 274. Explain to me the given rules, if you understand them.

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