Of Money

Of the MONEY and EXCHANGE of His
Majesty's Plantations in

HEMame Thing may be said here as of
Ireland, they reckon their Money, and keep

and Exchange
of America. their Accompts the fame Way.

10

Of the Money and Exchange

Their current Money is chiefly Spanish, which paffes in fome Islands by Tale, but in moft by Weight.

Their Trade between the Iftands and the Main, and between one another, is principally carried on by Barter.

The Exchange between thefe Places and London is at fo much per Cent. from 20 to 60, and upwards, in Favour of London.

Of the MONEY and EXCHANGE of the Seven United Provinces of the Netherlands, commonly called,

A

MSTERDAM, is a large, rich, populous, and beautiful City, inferior to few; and is of Amfterdam the Metropolitan of all the Seven United Provinces: It ftands upon the River Amftel, by an excellent Haven, near the Zuider Zee, 80 Miles North from Antwerp, 210 to the Eastward of London, 250 to the Northward of Paris, 380 South-west of Copenhagen, 560 to the Weftward of Vienna, and 750 Northward of Rome; Longitude 24 Deg. Latitude 53 Deg. 38 Min.

The

The History and Account of the BANK of

AMSTERDAM.

Collected from a Book published there by Authority of the States, entitled; Wyffel Styl tot Amfterdam: in English, The Course of Exchange at Amfterdam.

THE

HE Bank of Amfterdam was established by the Authority of the States-General, in the Month of January, 1609, and for the fpeedier Improvement of it, it was determined that all Bills of Exchange, or Sums for Goods, not being under 600 Florins, fhould be made in the Bank That Sum was fince reduced to 300, and no Sum under that can be entered upon the Books of the 'Bank, except by the East and West-India Companies Private Perfons, who are allowed to do it, pay or Stivers for every Entry.

So that in this Manner the Bank of Amsterdam is become the univerfal Depofitory of the Riches of all its Inhabitants, and of a great many Foreigners; its Credit being fo good, that no Body pretends to call it in Queftion And indeed it is very plain, that it can't well fail, as long as the Government of the Country fubfifts, for the City of Amfterdam is its Security..

Nor would there be any Reason to question the Sufficiency of the Bank of Amfterdam, tho'

R

the

the City were no ways engaged for it; because it is very certain there is a real Treafure, much more than fufficient to answer all Demands, as will plainly appear by the following Instance.

In the Heat of the War, 1672, between France and the United Provinces, the French King having taken Utrecht, and a great many other Towns, People being jealous of the Event of that War, and fearing that he might likewife render himself Mafter of Amfterdam, vaft Numbers of those, who had Money in the Bank, demanded it. and their Demands were punctually answered, and fome, who were in remoter Places, not having Patience 'till they could be conveniently paid by the Bank, difpofed of the Sums they had in it at a confiderable Lofs; giving 105 or 106 Florins Bank-Money, for 100 Florins current: So that confidering the intrinfick Value of the Difference of Money, they loft 10 or 12 per Cent. The Bank Money being generally between 5 and 6 per Cent. higher than the current Money: But the War foon taking another Turn, the Credit of the Bank was likewife reftored to its former Condition.

The real Treafure of the Bank of Amfterdam, which is believed to be the greatest in the World, 'confifts in real Species and Bars of Silver and Gold. The Species is received at a certain Rate; and the Bars of Gold and Silver, and other Bullion, by the Weight per Ounce, according to their Finenefs, which is tried by a publick Officer, appointed for that Purpose.

This Treasure is kept in a vaft Vault under the Town-Houfe, and fecured by all the Means that human Prudence can invent, from any Danger by Robbers, Fire, or other Accidents.

The Books of the Bank are kept in the ordidary Denomination of the Money of that Country, viz. Florins, Stivers, and Deniers.

The

The Florin confifts of 20 Stivers, and the Stiver of 16 Deniers.

All Perfors, who defire to have an Accompt in the Bank, muit pay 10 Florins for having their Accompt opened, and one Stiver for every Tranfport they afterwards make in the Book.

Any Perfon, who pleafes, may carry Money or Bullion to the Bank, and may demand it again at the fame Value, when they pleafe, paying T per Cent. for keeping it.

If their Money be in Ducatoons, they will receive them at 3 Florins a-piece; if in Bullion, it will be received at its juft Value; and if in current Money, the Party may either agree with one of the Cafh-keepers, for the Price of the Agio, or negociate it with fome Merchant upon the Exchange, who may probably give fomewhat more for it, and affign the Value on his Accompt in the Bank.

The Agio is the Difference between the Value What is meant of the Bank and current Money, which is gene- by Agio. mally between 5 and 6 per Cent, in Favour of the

Bank.

Any Perfon, who has an Accompt in Bank, and would tranfport the Whole, or any Part thereof, to another Man, muft either carry a Note thither himfelf, or give Power to another to do it in Prefence of the Book-keepers of the Bank, or fome of them; or else it will not be received.

The Note or Order must be to the Effect, or, in the Form following,

Folio 974.

Meffieurs the Commiffioners of the Bank ball pleafe to pay to Thomas Wilkins, Nine Hundred Seventy-two Florins, and Sixteen Stivers. At Amfterdam, the Fourteenth Day of April, 1727.

Flor. 972: 16

R 2

JOHN HOPE.

The

The Folio 974 above the Order, denotes the Leaf of the Bank-Book, upon which the Accompt of John Hope ftands; and muft not be neglected to be inferted.

But if a Perfon fhould credit another in the Bank upon the Accompt of a Third, he muft not fail to exprefs it in the Note, or Order, thus.

Folio 974.

Meffieurs the Commiffioners of the Bank hall please to pay to Jonas Wilkins, upon the Accompt of Thomas Vanfainwell, Nine Hundred, Seventy-two Florins, and Sixteen Stivers. At Am. fterdam, the Fourteenth Day of April, 1737.

Flor 972: 16.75 L

JOHN HOPE.

Such Notes may be carried to the Bank at any Time between 7 and II of the Clock in the Forenoon; or if there be a Neceffity of making any Tranfport in the Afternoon, the Perfon making it muft pay 6-Stivers. ansowied

If there be any odd Deniers to be written in Bank, if they be 83 they are written 8, If above 8, they are written Stiver, and if under 8, they are not taken notice of MLM Titon.

A Perfon credited in the Bank for any Sum, cannot write it off again, or tranfport it to any other the fame Day, except it be the fecond Day that the Bank is open after ballancing of the Accompts; being obliged under the Penalty of 3 Florins for every 100 Florins tranfported, to wait 'till next Day, that he has informed himfelf whether the Sums he pretends to have been credited for, be actually written off, and tranfported to his Accompt.

A Perfon must always go, or fend before 8 in the Morning, to know whether the Sum he