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VI. To change federal money to piastres of exchange. RULE-Divide the federal money by the rate of exchange, the quotient will be the answer in piastres.

EXAMPLES. 58. How many piastres can I remit to Spain for $6403 75 cents, exchange at par? Ans. 8004 p. 5r. 17 mar.

59. Sold my bill on Madrid for $666.068. Quere the a. mount in piastres, exchange at 84 cents ?

Ans. 800 p. 4r. 17 mar. EXCHANGE WITH PORTUGAL. The Portuguese keep their accounts in milrees and rees.

Par in sterling.

£. s. d.q.

00 0.27 400 rees unstamped 1 crusado of exchange, 230 480 rees stamped 1 new crusado,

2 8 1.6 1000 rees

1 milree,

572 4800 rees

1 moidore,

1 700 12800 rees

11 Johannes, -=31200 The United States exchanges with Portugal at 125 cents more or less per milree.

I. To change milrees to federal money. RULE-Multiply the milrees by the rate of exchange, and the product will be the answer in federal money.

EXAMPLES. 60. Having received accounts from Lisbon that the sales of my wheat has neated 1933 milrees, 700 rees; how much will it amount to in federal money if I value for the same when the exchange is at par.


$2417.125. 61. What would have been the difference in federal money on the above sum had the bill been negotiated at 2 per cent under or 3 per cent above par? Ans. $120.85625.

II. To change federal money to milrees. RULE--Divide the federal money by the rate of exchange, and the quotient will be the answer in milrees,

EXAMPLES 62. Having drawn on Lisbon for $2417 12} cents, how many milrees will pay my bill when the exchange is at par.

Ans. 1933 mil. 700 rees. 63. How many milrees of Portugal will $1000 amount to, when the exchange is at 122 cents per milree.

Ans. 816 mil. 32625 recs,

20 soldi,'} {l peleder

768 pezze.

EXCHANGE WITH GENOA. In this city and its dependencies accounts are kept in de nari, soldi, and lire or pezza: Lire money.

Exch. money,

Par in ster. 8. d. 12 denari S3 S1 soldo, 12 denari, 20 soldi 1 lira,

1 pezza=4 1 The pezza of exchange is equal to 5/ lire, consequently exchange money is 5 times better than lire money.

1. To reduce lire money to that of exchange. RULE-Multiply the lire money by 4 and divide the pro. duct by 23.

EXAMPLE. 64. In 4416 lire, how many pezze of exchange ?

Ans. II. To reduce money of exchange to lire. RULE-Multiply the exchange money by 5%, the product is lire.

EXAMPLE. 65. In 768 pezze of exchange, how many lire ?

Ans. 4416 lire. EXCHANGE WITH LEGHORN. In this city, most of the retailers keep their accounts in Jire, soldi, and denari of the lira, but bankers and foreign merchants, in pezze of eight rials, soldi, and denari of the pezzá. 12 denari

Ex. mõney: Par-ln ster. s. d. di lira 3 J 1 soldo, 12 den.di pez: 2 (1 soldo, O 24 20 soldo di lira

1 lira,
20 soldi di pez.


pezza, 4 2 Long money is 6 lire to the pezza, in which all sales are made, exchange or good money 5 lire is a pezza in which all large sums and bills of exchange are paid.

Rule The same as for the lire and exchange money of Genoa.

EXCHANGE WITH NAPLES. In this part of Italy accounts are kept in ducats and grains, or as follows: 20 grani Si taro,

make 5 taris

EXCHANGE WITH VENICE. In ais ous city, they reckon by ducats of 24 grossi, and the grosso of 5 soldi, yet bankers and negotiators fos

8. d.

{i taucht

=2878} sterling.

<3 42


4 3*} sterling

6 11

the facility of computation, usually divide it as follows, and keep their accounts accordingly,

S. d. 12 denari


(1 soldo, 20 soldi

71 ducat, The money of Venice is of three sorts, viz: Banco money, banco current money, and picoli money.

The banco money is 20 per cent better than the banco current, and the banco current 20 per cent better than the picoli money.

Par of exchange at different places. The above are the chief places in Europe, with which Britain exchanges, hence bills drawn in the United States on any other place are generally made payable in London, Amsterdam, Hamburgh, &c. However the par of exchange betwixt Britain and most othur places, with which we have any commercial intercourse, is here subjoined.

£. s. d. Rome, 1 stamped crown, Sicily, 1 onze,

11 3 Trieste 1 florin,

2 4 Vienna, 1 rix dollar,

4 8 Milan, 1 scudo,

3 81 Nice, 1 lire,

10 Frankfort, 1 florin,

3 0 Berlin, 1 rix dollar,

4 0 Dantzick, 1 florin,

0 9.137 Lubeck, 1 mark,

1 6 Copenhagen, 1 rix dollar,

40 Stockholm, 1 rix dollar,

47 Petersburgh, 1 rouble,

4 1 Turkey, 1 piastre of 100 aspers,

2 53 Aleppo, 1 piastre of 8u aspers,

2 3 EXCHANCE WITH ENGLISH WEST-INDIES. Books and accounts are kept in pounds, shillings and pence, and the currencies are from Os. to 6s. Sd the dollar.

EXCHANGE WITH FRENCH WEST-INDIES. Books and accounts are kept in livres, sols and deniers, and the currencies are from 8 livres, 5 sols, to liv. the dollar. EXCHANGE WITH DUTCH WEST-INDIES, &c.

Books and accounts are kept in forins, stivers, &c. and the currencies are to money of Holland, as 6 is to 5. EXCHANGE WITH SPANISH WEST-INDIES, &c.

Accounts are kept in every part of Spanish America in pesos, rials, and maravedies de plata Mexicanos.

} make

34 maravedies

51 rial, -80 125 fed. money. 8 rials

{1 peso,

1 00 EXCHANGE WITH BRASIL. In this part of South-America, appertaining to Portugal, accounts are kept as in the mother country, in milrees and rees, but the pataque money which is current here at 320 rees, is worth no more than 240 in Portugal.

EXCHANGE WITH BOMBAY Since the English became masters of this Island, there have been fabricated coins of silver, copper and tin. ACcounts are kept in rupees, quarters and rees.

25 rees, or 6 rupees of copper quarter, $0.11625 100 rees, or 24 rupees of copper 1 rupee of silver, 0.465 12 rupees of silver,

(1 moharre. 5.8125 EXCHANGE WITH CALCUTTA. In this part of the Malabar coast, accounts are kept in ru. pees, fanos and bises. 12 bises 2


Si fano, =$0.02948125
71 rupee,

0.4717 EXCHANGE WITH MADRAS. Accounts are kept at this English establishment on the coast of Coromandel, in pagodas, fanams, and cas.


Şi tanim, 36 fanams


1 pagoda, EXCHANGE WITH BATAVIA. In this, the capital of the Dutch East-India Company, ac. counts are kept in piastres, and stivers. 60 stivers make 1 piastre,

= $1.00. EXCHANGE WITH CHINA. In this Empire they reckon by tales, maces, candareens and caxa. 10 caxa


=$0.0148 10 candareens make 1 mace,

0 148 10 maces

1 tale, EXCHANGE WITH JAPAN, In this Empire, accounts are kept for the most part in tales, maces and candareens,

$0.14 21 tale,

80 cas


= 1.728

= 1.48

10 candescens,} ma

(1 mace,

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ARBITRATION OF EXCHANGES. To merchants who have foreign concerns it is of the greatest importance to be acquainted with the mode of arbitrating the exchanges between plaees, which is either simple or compound.

SIMPLE ARBITRATION. A simple or single arbitration is to be solved by director inverse proportion as in the following

Rule-When the first term of stating is more than the third, and the quotient required to be less than the middle term, or, when the first term is less than the third, and quotient required to be more than the third, then is the rule direct. But when the first term is less than the third, and the quotient required to be less than the middle term, or, when the first term is more than the third, and the quotient requir. ed to be more than the middle term, then is it inverse.

EXAMPLES. 1. If exchange from New-York to Amsterdam be 40 cents per guilder banoo; and if exchange from New-York to London be $445 per 1001 sterling : What must be the rate of exchange from Amsterdam to London, in order to be on a par with the other two?

Ans. 37s. 1d. flemish. 2. If exchange from London to Amsterdam be 33s. 9d. per & sterling ; and if exchange from London to Paris be 32d. per crown: What must be the rate of exchange from Amsterdam to Paris, in order to be on a par with the other two?


54d. flem. per crown. 3. A. of Oporto had orders to draw on Rouen, at 490 rees per crown of 60 sols, provided he could at the same time reinit on Leghorn at 770 rees per pezza; but as on receipt of the said order he could get no more for his bill than 488 rees : It is demanded at what price he ought to remit on Leghorn, to recompence the said diminution in his draft.

Ans. 7669 rees. 4. B. of Amsterdam gives an order to E. at Cadiz, to remit on Hamburgh at 124 gros-lubs for 1 ducat of 375 maravedies, and to draw for him at 126 groats de gros for the said ducat. It is required at what price the exchange will be be. tween Amsterdam and Hamb::rgh?

Ans. 32}i stiv. per dollar of 32s. lubs. 5. If exchange from London to Paris be 32d. sterling per crown of 3 livres tournois, and to Amsterdam 405d. flemish per £. sterling; and if by advice from Holland or France, the course of exchange between Paris and Amsterdam is fal.

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