Spain.

4 Marvadies Vellon, or 1 Quarta,

21 Marvadies of plate

8 Quartas, or

34 Marvadies Vellon

16 Quartas, or

1 Rial Vellon,

34 Marvadies of plate }1 Rial of plate,

8 Rials of plate

10 Rials of plate

5 Piastres

1 Piastre,

1 Dollar,

1 Spanish Pistole.

Portugal.

1 Crusadoe,

1 Millrea.

Holland.

1 Groat,

1 Stiver,=2d.

1 Shilling,

1 Florin or Guilder,

1 Rix Dollar,

1 L. Flemish,

1 Ducat.

Denmark.

1 Mark,

1 Rix Dollar,

1 Copper Dollar,

1 Rix dollar.

* A stiver is estimated at 2 cents; and a florin or guilder at 40 cents, nearly.

All the operations in exchange may be performed by the Rule of Three or by Practice.

Note. The par of exchange between the United States and most other trading countries, may be ascertained by the table at page 65.

EXAMPLES.

1. A of Philadelphia is indebted to B of London 1474L. 16s. currency, how much sterling must be remitted, when the exchange is at 64 per cent.?

Ans. 899L. 5s. 44d.

L. s. d.

As 164: 1474 16 :: 100: 899 5 44

2. B of London is indebted to C of Philadelphia 943L. 17s. 54d. sterling; for how much currency may C draw on B, exchange being at 64 per cent.?

Answer L. 1547 18 111⁄2 currency.

3. C of Philadelphia is indebted to D of London 750L. 2s. 4 d. sterling, how much Pennsylvania currency will discharge the debt, exchange being at 78 per cent.? Ans. 1335L. 4s. 24d. 4. How much sterling is equal to 1341L. 9s. 44d. Pennsylvania currency, exchange being at 67 per Ans. 800L. 17s. 6d.

5.

Philadelphia,

Exchange for 452L. 10s. 6d.

Thirty days after sight of this my first of exchange, second and third of like tenor and date not paid, pay to Samuel Sims, or order, four hundred and fifty-two pounds, ten shillings and sixpence sterling, value re

ceived, which place to account of To Samuel Jones, merchant,

London.

Peter Simpson.

What is the value of this bill in Pennsylvania currency, exchange at 771⁄2 per cent.?

Ans. 803L. 4s. 7 d.

6. M of Philadelphia owes P of London 1474 dollars 80 cents; how much sterling must be remitted, when exchange is at par?

cts. dols.cts.

s. d. L. S.

d.

As 100: 1474.80 :: 46:331 16 7. Ans. 7. What sum sterling is equal to 260L. Ss. 6d. Virginia currency; exchange 44 per cent.?

Ans. 180L. 17s.

8. M of Dublin draws upon M of London for 740L. 14s. 6d. Irish; exchange at 12 per cent.: How much sterling will discharge this bill? Ans. 661L. 7s. 24d.

9. Pof London remits to G of Ireland 651L. 14s. 114d. sterling; with how much Irish must P be credited, exchange being at 12 per cent.?

Ans. 729L. 19s. 2d.

10. Purchased in Ireland goods to the value of 400L. 17s. 9d. Irish; what sum Pennsylvania currency will discharge the debt, exchange being at 511⁄2 per cent.?

Ans. 607L. 6s. 10 d.

11. B of Jamaica is indebted to C of London 1470L. 12s. 8d. sterling; with how much currency will C be credited at Jamaica, when exchange is at 361⁄2 per cent.? Ans. 2007L. 8s. 34d.

12. D of Jamaica is indebted to E of London 806. 5s. sterling: with how much currency must E be credited in Jamaica, when the exchange is at 35 per cent.?

Ans. 1088L. 8s. 9d.

13. P of Philadelphia received of A of Amsterdam, an invoice of goods amounting to 10235 florins, 17 stivers, 8 pennings, what sum of Pennsylvania currency will discharge the bill, at 354d. per florin? and what is

M

the sum in sterling, exchange at 38s. 6d. Flemish per L. sterling? 7s. 101⁄2d. currency.

Ans. §1503L. {

886L. 4s. 5 d. sterling. 14. A merchant in Rotterdam has a bill drawn on him for 673L. 16s. 8d. sterling, exchange at 33s. 4d. Flem. per pound sterling; how much Flemish must he pay? Ans. 1123L. 1s. 14d.

15. A Connecticut merchant imported goods from France, amounting, per invoice, to 49008 livres; how much currency of that state, at 15d. per livre, will they Ans. 3063L. currency.

amount to?

16.

Philadelphia,

Exchange for 4226 livres, 12 sols, 8 deniers. Thirty days after sight of this my second of exchange, (first of the same tenor and date not paid) pay to Thomas Broker, or order, four thousand two hundred and twenty-six livres, twelve sols, and eight deniers, value received; which place to account of

To Thomas Lamot, Merchant,
Bordeaux.

Ans.

{

Silas Stroud.

How much sterling is the above bill, at 10 d. per livre; and how much Pennsylvania currency, at 17 d. per livre? 184L. 18s. 3 d. sterling. 308L. 3s. 10d. currency. 17. What sum Pennsylvania currency is equal to 2524 piastres, 7 rials, 33 marv. at 7s. 6d. per piastre? Ans. 946L. 17s. 51⁄2d.

18. A merchant of North Carolina shipped a quantity of flour, which, when disposed of, amounted to 1186 millreas, 500 reas; and received in return 17 pipes of wine; how much was the wine per pipe, a millrea reckoned at 7s. 6d. Ans. 26L. 3s. 54d.

19. A Virginia merchant sent goods to Norway, worth 1743L. 16s. Virginia currency; how many rix dollars at 6s. each, must he receive?

Ans. 5812 dols. 4s.

Note. To change bank into current money say: As 100 bank, is to 100 with the agio added, so is the bank given, to the current required.

To change current money into bank say: As 100 with the agio added, is to 100; so is the current given, to the bank required.

20. Change 794 guilders, 15 stivers, current money, into bank florins, agio 4 per cent.

Result 761guild. 8stiv. 11 pennings. 21. Change 761 guilders, 9 stivers bank, into current money, agio 4 per cent.

Result 794guild. 15stiv. 4 pennings.

22. A merchant in Holland wishes to change 4376 florins currency inte bank, the agio at 4 per cent.; how many pounds Flemish bank must he receive?

Ans. 701L. 1flo. 13stiv. 13pen. 23. In 290L. 11s. 10d. sterling, how many pounds Flemish; exchange at 33s. 10d. Flemish bank per pound sterling and agio at 41⁄2 per cent.? Ans. 513L. 14s. 1d.

24. A merchant in Philadelphia receives from London a parcel of goods, charged in the invoice at 450L. 10s. sterling, which he immediately sells at an advance of 78 per cent.; what is the amount in Pennsylvania currency; also in Federal money?

Ans. 801L. 17s. 9 d. (2138dols. 371⁄2cts.

25. Amsterdam changes on London 34s. 3d. per L. sterling, and on Lisbon, at 52d. Flemish for 400 reas; how then ought the exchange to go between London and Lisbon? Ans. 754d.+sterling per millrea.

VULGAR FRACTIONS.

A vulgar fraction is a part, or parts of a unit or integer expressed by two numbers, piaced one above the other, with a line drawn between them; as one fourth, two thirds.

The number above the line is called the numerator, and that below the line the denominator.

The denominator denotes the part, and the numerator informs how many of that part are designed to be expressed.

Vulgar fractions are either proper, improper, compound or mixed.

A proper fraction is that of which the numerator is less than the denominator; as,,, &c.