(8.) The course of exchange between London and Amsterdam being 34s. 3d. at 24 usance; what ought Amsterdam to give at sight, supposing the interest of money to be 4 per cent. ? Ans. 11. 13s. 11 d. HAMBURGH. Accounts are kept at Hamburgh in marks and schillings, and the exchange is by the pound sterling, as in Holland. Hence a schilling banco is = 2 pence Flemish, Exchange from 33s. to 36s. Flem. per pound sterling. The mark banco is worth about 171⁄2d. sterling, making the par of exchange about 13 marks 101 schillings per £ sterling. Agio from 18 to 20 per cent. for currency, and from 30 to 35 per cent. for light coin.* *The different moneys of Hamburgh are as follows: 1. Bank money, which is inscribed in the bank-books, and transferred in payment from one person to another. 2. Specie, or the hard rix-dollar, which is worth, when full weight, about per cent. more than banco. 3. The gold ducat, which is about 1 per cent. better or worse than banco, according to the price of bullion. 4. Light coin, consisting chiefly of foreign moneys, which lose about 38 per cent. against banco. 5. Currency, which consists of various denominations of silver money coined at Hamburgh, since the year 1726. Hamburgh money was formerly distinguished by the word Lubs, (from Lubec, the place of its coinage,) but the term, though still retained in most books of exchange, appears to be out of use among men of business, the word Hambro' being usually substituted in its place. It may here, also, be proper to observe, that the par between Hamburgh banco and currency is reckoned at 23 per cent. agio, or 13 marks banco for 16 marks currency. And the par between English money and currency is 43s. Flemish for 17. sterling; but there can be no permanent par with banco, on account of the agio being always fluctuating. If the agio EXAMPLES. (1.) Reduce 2347 marks, 10 schillings, into pounds sterling; xchange at 34s. 6d. Flemish per pound sterling. 414)75124(1819-1811. 9s. 2d.=Ans. 3372 604 190 (2.) Exchange 100%. sterling into marks, at 13 marks, 10 schillings per 17. sterling. (3.) In 536. sterling how many marks; exchange at 368. 4d. Flemish per pound sterling? Ans. 7303 marks. (4.) Reduce 3007. sterling into marks and schillings banco; exchange at 35s. 3d. Flemish per pound sterling. Ans. 3965 marks, 10 sch. (5.) Reduce 4500 marks current into pounds sterling; exchange at 35s. 6d. Flemish per pound sterling, and agio 20 per cent. Ans. 2811. 13s. 91d. (6.) Reduce 8234 marks, 10 schillings, banco, into pounds sterling; exchange at 33s. 10d. Flem. per pound sterling. Ans. 6491. Os. 81d. (7.) Reduce 8732 marks current into pounds sterling; exchange at 34s. 5d. Flemish per pound sterling, agio 20 per Ans. 5631. 16s. 24d. cent. be 23, 17. sterling is equal to 34s. 11d.; but, by the estimation of merchants, the par is from 34s. 7d. to 34s. 10d., varying according to the price of gold and silver, and the fluctuation of the agio. FRANCE. Accounts were kept in France, before the Revolution, in livres, sols, and derniers; but, at present, they are kept in francs and centimes, and they exchange by the franc.* The derniers and livres being now abolished, the exchanges are carried on through the medium of francs and centimes. 10 centimes 2 sous 1d. nearly English. 1 franc-9.52d. or about 91d. English. £1 sterling English, and this is the 20 2510 EXAMPLES. (1.) Reduce 1251. 10s. into francs and centimes; exchange at 25 francs, 6 centimes, per 17. sterling. 22120 : 1257. 10s. :: 25 fr. 6 cents. 100 2506 * Francs and livres were formerly synonymous; but by a coinage some years ago, the 5-franc pieces were, by some mismanagement in the Mint, made too heavy, being worth 101 sous instead of 100; in consequence of which the franc has been adapted to this accidental value, and is so estimated in all accounts, except in the small shop business, which is frequently settled in livres, as they still, in many cases, buy and sell by the old weights and measures. (2.) Exchange 21420 francs, 75 tentimes, into pounds sterling at 25.35 per £. fr. fr. As 25.35 Ans. 20280 francs. (3.) In 8007. sterling how many francs; exchange at 25.35 per 17. sterling? (4.) In 16914 francs, 19 cents. how many pounds sterling; exchange at 24 francs per pound? (5.) Reduce 967. 10s. 6d. into francs; per 17. sterling. Ans. 7041. 15s. 12d. exchange at 25.55 Ans. 2466-2 francs. (6.) Reduce 32576 francs, 47 centimes into pounds sterling; exchange at 25.21 per 17. sterling. SPAIN. Ans. 12921. 4s. 1d. Accounts are kept in Spain in pesos, or dollars, reales, and maravedis, and they exchange by the peso, or dollar of plate. 21 maravedis 4 maravedis = 1 cuarto of exchange. = 1 cuarto of hard silver. The old-coined pieces of France, were 24-livre pieces, called 48-livre pieces, called double-louis} in gold. And, 6-livre pieces, 3-livre pieces The new-coined pieces of money of France, are 1 franc, franc, and franc in silver. OBS. The peso fuerte or hard dollar=680 maravedis, = from 50d. to 51d. Eng.; and the peso of exchange or dollar of plate=512 maravedis= 36d. to 39d., depending on the course of exchange. The real of plate or silver=43d. nearly of English money; but the real vellon is not quite 2ld. EXAMPLES. (1.) In 9764 reales of plate, how many pounds sterling; exchange at 413d. per peso of exchange or dollar of plate? * The real vellon is now only an imaginary money, used in exchanges, and in the public accounts. The money of Spain is distinguished into plate and vellon, the former being to the latter as 32 to 17; that is 23 maravedis vellon=17 maravedis |