EXAMPLE. What will 2279 guilders 1 stiver 4 pennings, Holland currency, amount to in bank money, the agio being 3½ per cent.?

Guild. Guild. Guild. fl. pen.
As 103½ : 100 :: 2279 1 4
8 8 20
825 800 45581
20 16
16500
16
990
165
8)264|000
3)33
12
8)5834|000
3)72930(Guild.
11)24310(2210 bank.

Exchange. An Amsterdam, Rotterdam, Middleburgh, &c. books and accounts are kept by some in guilders, flivers, and pennings, and by others in pounds, shillings, and pence Flemish.

Britain gives 1l. sterling for an uncertain number of shillings and pence Flemish. The par 1l. sterling for 36.59s. Flemish; that is, 1l. 16s. 7.08d. Flemish.

When the Flemish rate rises above par, Britain gains and Holland loses by the exchange, and vice versa.

Sterling money is changed into Flemish, by saying,

As 1l. sterling to the given rate,

So is the given sterling to the Flemish sought.

Or, the Flemish money may be cast up by practice.

Dutch money, whether pounds, shillings, pence Flemish, or guilders, flivers, pennings, may be changed into sterling, by saying,

As the given rate to 1l. sterling,

So the given Dutch to the sterling sought.

EXAMPLE I. A merchant in Britain draws on Amsterdam for 78l. sterling: How many pounds Flemish, and how many guilders, will that amount to, exchange at 34s. 8d. per pound sterling?

Decimally.

L. s. d. L.
If 1 : 34 8 : 782
12
416
782
832
3328
2912
12 325312
d.
2(0) 27109 4
L. 1355 9 4
Flem.

By practice.

L. s. d.
782
391
156 8
26 1 4
1355 9 4
F.

Or thus:

L. s. d.
782
547 8
26 1 4
1355 9 4
F.

Multiply the Flemish pounds and shillings by 6, and the product will be guilders and flivers; and if there be any pence, multiply them by 8 for pennings: or, divide the Flemish pence by 40, and the quot will be guilders, and the half of the remainder, if there be any, will be flivers, and one penny odd will be half a fliver, or 8 pennings, as follows:

L. s. d. Flem. pence.
1355 9 4 4(0)325312(32 rem.
6

Guild. 8131 16 fliv.

Guild. 8132 16 fliv.

2. Change 591s. Flemish into sterling money, exchange at 37s. 6d. Flemish per 1l. Sterling.

Flem. s. Ster. L. Flem. L. s.
If 37 6 : 1 591 5
2 20
5)75 11825
2
4)15 5)23650
3 5)4730
3)946
3151/2

L. s. d.
Ans. 315 5 8 Ster.

Decimally.
5) L. L. 5) L.
If 1.875 : 1 :: 591.25
5) .375 5) 118.25
5) .075 5) 23.65
.015 .015) 4.73(313.2
45
23
15
80
75
50
45
5

Holland exchanges with other nations as follows, viz. with.

Flem. d.
Hamburg, on the dollar, = 661/2
France, on the crown, = 54
Spain, on the ducat, = 1091/2
Portugal, on the cruzade, = 50
Venice, on the ducat, = 93
Genoa, on the pezzo, = 100
Leghorn, on the piastra, = 100
Florence, on the crown, = 120
Naples, on the ducat, = 741/2
Rome, on the crown, = 136
Milan, on the ducat, = 102
Bologna, on the dollar, = 941/2

Exchange between Britain and Antwerp, as also the Austrian Netherlands, is negotiated the same way as with Holland; only the par is somewhat different, as will be described in article 2d. following.

Par in Sterling. s. d.
12 Phennig 1 schilling-lub = 0 11/2
16 Schilling-lubs 1 mark = 1 6
2 Marks 1 dollar = 3 0
3 Marks 1 rixdollar = 4 6
61/2 Marks 1 ducat = 9 41/2
Books

Books and accounts are kept at the bank, and by most people in the city, in marks, schilling-lubs, and pennings; but some keep them in pounds, schillings, and groots Flemish.

Theagio at Hamburg runs between 20 and 40 per cent. All bills are paid in bank money.

Hamburg exchanges with Britain by giving an uncertain number of schillings and groots Flemish for the pound sterling. The groot or penny Flemish here, as also at Antwerp, is worth \frac{1}{2} of a penny sterling; and so something better than in Holland, where it is only \frac{1}{8}d. sterling.

Flemish.
6 Pennings } makes 1 groot or penny
6 Schilling-lubs 1 schilling
1 Schilling-lub 2 pence or groots
1 Mark 32 pence or groots
7\frac{1}{2} Marks 1 pound.

The par with Hamburg, and also with Antwerp, is 35s. 6\frac{1}{2}d. Flemish for 1l. sterling.