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Lately published, and Sold by GEORGE KEITH, at the Bible and Crown, Gracechurch-Street.

I.

T

HE YOUNG ALGEBRAIST'S COMPANION: Or, A New and Eafy Guide to Algebra. By DANIEL FENNING, of the Royal-Exchange Affurance, and recommended by feveral eminent Mafters. Second Edition. To which is added, An Appendix on the Rudiments of Quadratic Equations, &c. Price 35.

II. The LONDON NEW METHOD of ARITHMETIC. BY JOHN HALLIDAY, M. A. With an Appendix, containing a Defcription of the Sliding Rule, adapted to the feveral Rules of Arithmetic, and applied to measuring, roofing, tiling, thatching, paving, &c. very neceffary for all Artificers. By the Author of the Young Algebraift's Companion, 35.

III. The YOUNG GAUGER'S INSTRUCTOR: Being the most Plain and Easy Introduction to that Art. To which are added, feveral ufeful Tables and Problems, never before publifhed, and an Appendix on the gauging irregular Bodies; wherein feveral Errors of former Writers on this Subject are demonstrated and corrected, by ISAAC OVERLEY, Officer of the Excife, 45.

IV. The MIRROUR of ARCHITECTURE: Or, the Ground Rules of the Art of Building, exactly laid down by VINCENT SCAMOZZI, Mafter Builder of Venice. Illuftrated by a great Number of Copper-plates, 4 s.

V. The ART of SHORT-HAND improved. A new Edition, with Additions. By WILLIAM MASON, 25 6d.

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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 Custom 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

Money.

admitted to be the Standard of all other Commodi

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

Tavo forts of There are two forts of Money, Real, and ImaMoney. ginary. Real Money is a Piece of Metal coin'd by What is call'd the Authority of the State, and is therefore a real Real Money. "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. =

And what

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, precisely of the Value of either of those 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 moft ufeful, 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 other 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 spread all over Europe; and being found very convenient and advantageous to Commerce, was very much favour'd and encourag'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 pre-' vent 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 fpeedily, 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 feparately 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 (notwithstanding the different Acceptations, in which this Term of Exchange, in a larger Senfe, may be imply'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 parti

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"Of the Par of Money and

cularly by Bankers, who make Exchange their principal Bufinefs.

The better to bring the Reader to a true and perfect Knowledge of the prefent Subject, it will be neceffary to acquaint him, that as the Money and Species of all Nations differ very much from each other, not only in their current Prices, but in their intrinfick Value, there is a certain PAR eftablish'd between 'em, according to the real and effective Value of each Species, without any regard to the Prices at which they are current in the Countries in which they are coin'd.

I take the Par to be of two kinds, viz. that of real Money, and that of Exchange, or imaginary MoExchange. ney; and both thefe terminate in the fame thing, because the one has a neceffary Dependance upon the other.

By the Par of real Money, is meant, the Equality of the intrinfick Value of the real Species of any one Country, with thofe of another and fo a French Crown in Specie, is equal to Four Shillings and Six-pence English.

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By the Par of Exchange, is understood, the, Proportion that the imaginary Money of any one Coun-, try, bears to that of another and fo fuppofing the, French Crown in Specie, to be current in France, (as it has been) at 72 Solzs Tournois, their Crown confifting of three Livres, or 60 Solzs Tournois, was only Three Shillings and Nine-pence, or 45. English Pence. For the Par of Money, between England and France, according to its intrinfick Value, being 60 French Solz, for 54 English Pence; that of the Exchange being only a Confequence of it, muft needs bear a juft and exact Proportion to

it.

The Rifing and The Rifing and Falling of the Exchange, muft neceffarily be attributed to one of these two Inci

Falling of

Exchange.

dents,

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