A Full and Particular AccoUNT of the NATURE
and ORIGIN of that most Useful and Intricate
PART of COMMERCE.

WITH

Forms of BILLS moftly in Ufe; and the Custom of
Merchants relating thereto, in an Easy and Familiar Method.

AS ALSO

TABLES relating to the Conformity of different
WEIGHTS and MEASURES.

By Mr. JOHN HEWITT,

ACCOUNTANT.

LONDON:

Printed for GEORGE KEITH, at the Bible and Crown,
Gracechurch-Street. /1755.

MVSEVM

BRITAN NICVM

HEWITT's

TREATISE

Ο Ν

MONEY, COINS, &c.

of MONEY and EXCHANGE in General.

A

T the Beginning, Mankind bar-
ter'd and exchang'd Commodities
one with another, giving to each
other, a Part of what they had
fuperfluous of one Sort or Spe-
cies, for a proportionable Quan--
tity of what they wanted of ano-

ther: But that Cuftom of exchanging Commodi

ties, foon gave place to the Introduction of diffe- Introduction of rent forts of Metals: Two of which, viz. Gold Money.

and Silver, because of their Finenefs and Conve

niency, were, by the common Confent of Nations,

B

admitted

admitted to be the Standard of all other Commodi

Definition of ties, and continued for a long time to pafs in Commerce by Weight, 'till at laft the Cuftom of Coining, or Stamping those Metals was introduced, and that call'd, MONEY.

Money.

Two forts of
Money.
What is call'd
Real Money.

And what

There are two forts of Money, Real, and Imaginary. Real Money is a Piece of Metal coin'd by the Authority of the State, and is therefore a real Species, current at a certain Price, by vertue of the faid Authority, and of its own intrinfick Value; fuch as a Guinea, a Crown, a Shilling, a Farthing, &c.

Imaginary Money, is a Denomination used to Imaginary. exprefs a Sum of Money, of which there is no real Species: As a Pound in England, and a Livre in France, because there is no Species current, in this, or that Kingdom, precifely of the Value of either of thofe Sums.

These short Definitions I thought were neceffary to introduce the Reader to the Knowledge of ExCHANGE, which may properly be faid to be, a Commerce of Money; and is generally allow'd to be the most useful, intricate, and myfterious Part in the Art of Traffick.

Some Authors would have the World oblig'd to the Jews for the happy Invention of Exchange, who being banish'd out of France, under the Reign of Dagobert, in the Year 640, (and by feveral o ther Princes fince that Time) efcaping into Italy, fell upon that Method of withdrawing the Effects they had left behind them; fo that Exchange beginning to flourish in Florence, Venice, and Genoa, was thence tranfmitted to Amfterdam; from whence, by means of the extenfive Correfpondence of that City, it was immediately fpread all over Europe; and being found very convenient and advantageous to Commerce, was very much favour'd and encouag'd by all Potentates and Sovereigns; who, a

mongst

mongst the other Benefits they expected to reap by it, look'd upon it as the most infallible way to prevent the Exportation of Gold, Silver, and Jewels out of their Dominions, which the Want of Bills of Exchange then render'd on fome Occafions unavoidable.

The Ufe of Exchange is now become fo beneficial and univerfal, and the Advantages, which thereby redound to Trade, are in themfelves fo apparent, that I will not trouble the Reader with many Proofs of this neceffary, delicate, and most excellent Point of Commerce, fince it is evident, beyond all Contradiction, that a Remittance of Money may be more speedily, more conveniently, and more fafely made in Bills of Exchange, than in Specie.

I fhall firft proceed to give an Account of the Exchange of the City of London, and then treat separately of the Exchange of the refpective Countries, as they come to be confider'd in Order.

Some Authors, in treating of Exchange, have taken up a great deal of Time, in telling us very confufedly what it is not: But as I don't fo well comprehend the Neceffity of Negatives, in Difcourfes of this Nature, I fhall only fay (notwithftanding the different Acceptations, in which this Term of Exchange, in a larger Senfe, may be im ply'd) that it here means, (what I have already faid) A COMMERCE OF MONEY, or bartering or Definition of exchanging the Money of one City or Country, for Exchange. that of another; perform'd by means of an Inftrument in Writing, call'd, A BILL OF EXCHANGE.

Re-Exchange, is the fame Sum of Money, payable by the Drawer of a Bill, which is returned proteft- Re-exchange. Definition of ed; for the Exchange of the Sum, contain'd in the Bill, back again to the Place from whence it was drawn. This is frequently practifed by Merchants and Dealers, as Occafion offers; but more partiB 2

cularly