manner be increased to the Profit of the King who notwithstanding shall be sure in the end to have the greatest Loss if he prevent not such Unthrifty Courses as do impoverish his Subjects CHAP. VIII The Enhancing or Debasing our Monies cannot Enrich the Kingdom with Treasure nor hinder the Exportation thereof THere are three ways by which the Monies of a Kingdom are commonly altered The first is when the Coins in their several Denominations are made currant at more or less Pounds Shillings or Pence than formerly The second is when the said Coins are altered in their Weight and yet continue currant at the former Rates The third is when the Standard is either Debased or Enriched in the Fineness of the Gold and Silver yet the Monies continue in their former Values In all occasions of want or plenty of Mony in the Kingdom we do ever find divers Men who using their Wits for a Remedy to supply the First and preserve the Last they fall presently upon altering the Monies for say they the raising of the Coins in value will cause it to be brought into the Realm from divers Places in hope of the Gain and the Debasing of the Monies in the Fineness or Weight will keep it here for fear of the Loss But these Men pleasing themselves with the beginning only of this weighty Business consider not the Progress and End thereof whereunto we ought especially to direct our Thoughts and Endeavours A Notable service for Spain For we must know that Mony is not only the true measure of all our other means in the Kingdom but also of our Forein Commerce with Strangers which therefore ought to be kept Just and Constant to avoid those Confusions which ever accompany such alterations For first at Home if the common Measure be changed our Lands Leases Wares both Forein and Domestick must alter in proportion And although this is not done without much Trouble and Damage also to some Men yet in short time this must necessarily come to pass for that is not the Denomination of our Pounds Shillings and Pence which is respected but the intrinsick value of our Coins unto which we have little reason to add any further Estimation or Worth if it lay in our power to do it for this would be a special Service to Spain and an act against our selves to indear the Commodity of another Prince Mony is the measure of our other means Neither can these courses which so much hurt the Subjects any way help the King as some Men have imagined for although the Debasing or Lightning of all our Mony should bring a present Benefit for once only to the Mint yet all this and more would soon be lost again in the future great Incoms of His Majesty when by this means they must be paid yearly with Mony of less intrinsick value than formerly Nor can it be said that the whole Loss of the Kingdom would be the Profit of the King they differ infinitely for all Mens Estates be it Leases Lands Debts Wares or Mony must suffer in their Proportions whereas His Majesty should have the Gain only upon so much ready Mony as might be new Coined which in comparison would prove a very small matter All the ready Mony in this Kingdom is esteemed at little more than one Million of Pounds for although they who have other Estates in Mony are said to be a great Number and to be worth Five or Ten thousand Pound per Man more or less which amounts to many millions in all yet are they not possessed thereof all together or at once for it were Vanity and against their Profit to keep continually in their hands above Forty or Fifty Pounds in a Family to defray necessary Charges the rest must ever run from Man to Man in Traffick for their Benefit whereby we may conceive that a little Mony being made the measure of all our other means doth Rule and Distribute great matters daily to all Men in their just Proportion And we must know likewise that much of our old Mony is worn light and therefore would yield little or no profit at the Mint and the Gain upon the Heavy would cause our vigilant Neighbours to carry over a great Part thereof and return it presently in pieces of the New Stamp nor do we doubt that some of our own Country-men would turn Coiners and venture a Hanging for this Profit so that His Majesty in the end should get little by such Alterations Yea but say some Men If His Majesty raise the Mony great store of Treasure would also be brought into the Mint from Forein Parts for we have seen by Experience that the late raising of our Gold ten in the Hundred did bring in great store thereof more than we were accustomed to have in the Kingdom the which as I cannot deny so do I likewise affirm that this Gold carried away all or the most part of our Silver which was not over-worn or too light as we may easily perceive by the present use of our Monies in their respective qualities And the Reason of this Change is because our Silver was not raised in proportion with our Gold which still giveth advantage to the Merchant to bring in the Kingdom 's Yearly Gain by Trade in Gold rather than in Silver Secondly If we be inconstant in our Coins and and thereby violate the Laws of Forein Commerce other Princes are vigilant in these Cases to alter presently in proportion with us and then where is our hope Or if they do not alter what can we hope for For if the Stranger-merchant bring in his Wares and find that our Monies are raised shall not he likewise keep his Commodities until he may sell them dearer And shall not the Price of the Merchant's Exchange with Forein Countries rise in Proportion with our Monies All which being undoubtedly true why may not our Monies be carried out of the Kingdom as well and to as much profit after the raising thereof as before the Alteration But peradventure some Men will yet say that if our Monies be raised and other Countries raise not it will cause more Bulloin and Forein Coins to be brought in than heretofore If this be done it must be performed either by the Merchant who hath exported Wares or by the Merchant who intends to buy off our Commodities And it is manifest that neither of these can have more Advantage or Benefit by this Art now than they might have had before the Alteration of the Mony For if their said Bulloin and Forein Coins be more worth than formerly in our Pounds Shillings and Pence yet what shall they get by that when these Monies are Baser or Lighter and that therefore they are risen in Proportion So we may plainly see that these innovations are no good means to bring Treasure into the Kingdom nor yet to keep it here when we have it CHAP. IX A Toleration for Forein Coins to pass currant
of the Kingdom For say they we see daily great store of our English Coins carried over which pass current in the Low-Countries and there is great advantage to carry them thither to save the Loss which the Low-Country-men have in the Exchange for if one Hundred Pounds sterling delivered here is so much undervalued that Ninety Pounds of the same Sterling Mony carried over in Specie shall be sufficient to make repayment and full Satisfaction of the said hundred Pounds at Amsterdam Is it not then say they the Undervaluing of our Mony which causeth it to be carried out of the Realm To this Objection I will make a full and plain Answer shewing that it is not the Undervaluing of our Mony in Exchange but the Over-ballancing of our Trade that carrieth away our Treasure For suppose that our whole Trade with the Low-Countries for Wares brought into this Realm be performed only by the Dutch for the Value of Five hundred thousand Pounds yearly and that all our Commodities transported into the said Low-Countries be performed only by the English for Four hundred thousand Pounds yearly Is it not then manifest that the Dutch can Exchange only four hundred thousand Pounds with the English upon the Par pro Pari or equal value of the respective Standards So the other Hundred thousand Pounds which is the Over-ballance of the Trade they must of necessity carry that away in Mony And the self-same Loss of Treasure must happen if there were no Exchange at all permitted for the Dutch carrying away our Mony for their Wares and we bringing in their Forein Coins for their Commodities there will be still one hundred thousand Pounds loss Now let us add another Example grounded upon the aforesaid proportion of Trade between us and the Low-Countries The Dutch as afore written may Exchange with the English for 400000 Pounds and no more upon the equal Value of the Monies because the English have no further means to satisfie But now Suppose that in respect of the Plenty of Mony which in this Case will be here in the hands of the Dutch to deliver by Exchange The Vndervaluing of our Mony in Exchange is the Strangers Loss and our Gain our Mony according to that which hath been already said will be under-valued Ten per Cent. then is it manifest that the Dutch must deliver Four hundred and forty thousand Pounds to have the Englishman's Four hundred thousand Pounds in the Low-Countries so that there will then remain but 60000 Pounds for the Dutch to carry out of the Realm to ballance the Accompt between them and us Whereby we may plainly perceive that the Undervaluing of our Mony in Exchange will not carry it out of the Kingdom as some Men have supposed but rather is a Means to make a less Quantity thereof to be Exported than would be done at the Par pro Pari. Further Let us suppose that the English Merchant carried out as much Wares in Value as the Dutch Merchant bringeth in whereby the Means is equal between them to make their returns by Exchange without carrying away of any Mony to the Prejudice of either State And yet notwithstanding the Dutch Merchant for his occasions or advantage will forsake this Course of Exchange and will venture to send part of his Returns in ready Mony To this the Answer is that hereupon it must follow of Necessity that the Dutch shall want just so much means in Exchange with the English who therefore shall be forced to bring in the like Sum of Mony from beyond the Seas as the Dutch carried out of this Realm so that we may plainly perceive that the Monies which are carried from us within the Ballance of our Trade are not considerable for they do return to us again and we lose those Monies only which are made of the Over-ballance of our general Trade That is to say That which we spend more in value in Forein Wares than we utter of our own Commodities And the contrary of this is the only means by which we get our Treasure 1. The Canker of England's Common-wealth 2. Free Trade 3. Lex Mercatoria 4. The Centre of Trade In vain therefore hath Gerard Malines laboured so long and in so many Printed Books to make the World believe that the Under-valuing of our Mony in Exchange doth exhaust our Treasure which is a meer Fallacy of the Cause attributed that to a Secondary Means whose effects are wrought by another Principal Efficient and would also come to pass although the said Secondary Means were not at all As vainly also hath he propounded a remedy by keeping the Price of Exchange by Bills at the Par pro Pari by Publick Authority which were a New-found Office without Example in any part of the World being not only Fruitless but also hurtful as hath been sufficiently proved in this Chapter and therefore I will proceed to the next CHAP. XIII The Merchant who is a meer Exchanger of Mony by Bills cannot Increase or Decrease our Treasure THere are certain Merchants which deal only upon all advantages in the Exchange and neither Export nor Import Wares into the Kingdom which hath caused some Men to affirm that the Mony which such meer Exchangers bring in or carry out of the Realm is not comprehended in the Ballance of our Forein Trade for say they sometimes when our Sterling Mony hath been undervalued and delivered here for Amsterdam at 10 per Cent. less than the equal Value of the respective Standards the said meer Exchanger may take here one thousand Pounds Sterling and carry over only nine hundred thereof in Specie which will be sufficient to pay his Bill of Exchange And so upon a Greater or Lesser Sum the like Gain is made in three Months time But here we must know that although this meer Exchanger deal not in Wares yet notwithstanding the Mony which he carrieth away in manner afore-written must necessarily proceed of such Wares as are brought into the Kingdom by Merchants So that still it falleth into the Ballance of our Forein Trade and worketh the same Effect as if the Merchant himself had carried away that Mony which he must do if our Wares be over-ballanced as ever they are when our Mony is undervalued which is expressed more at large in the 12th Chapter And on the contrary when the meer Exchanger by the said advantages shall bring Mony into the Kingdom he doth no more than necessarily must be done by the Merchant himself when our Commodities over-ballance Forein Wares But in these Occasions some Merchants had rather lose by delivering their Mony at an undervalue in Exchange than undertake to hazard all by the Law which notwithstanding these meer Exchangers will perform for them in hope of Gain CHAP. XIV The Admirable Feats supposed to be done by Bankers and the Merchant's Exchange ALthough I have already written something concerning the Merchant's Exchange and therein of the Uunder-valuation of our Mony
Commodities for the ingenious Merchant found it still defective and therefore to have it yet more perfect invented the Art of Concave Measures that should serve as well for dry as for liquid Commodities as it is seen practised at this day for Grain Rice and such like commodities and for Oyls Wines Waters Liquors and such like commodities setting by this way by Art and Invention in most of these commodities a concordance of Measure with Weight as in other commodities was set a Concordance of Weight with Measure but for as much as this knowledge in the general is of it self too capacious and large to be particularly handled as the subject requireth I have been therefore constrained to confine my self to Measures of length only as being the most necessary part of this MAP of COMMERCE yet so as I have not omitted the rest where they have fallen within the compass of my observation and if I have therein been found defective the vastness of the Subject may plead my excuse All Measures to the Merchants must be as one Measure He then that intendeth by way of Traffick to make use of this Tract must as well be skill'd in Measures as I have observed as he ought to be in Weights for he must not only readily know his own Measure as it stands and is found to be in it self in use but also the Measure of that place whereto he bendeth his Trade and Negotiation allowing or deducting by Addition or Substraction where the overplus or want doth challenge a part to make a due proportion of both and be so well versed therein as that all Measures may be to him as one Measure by a true calculation of the length or the shortness thereof All Cities of Trade have sworn and publick Measurers Again It is found by the observation of the Merchants that in all Countries and well-governed Cities there is for the reiglement of things measurable instituted a publick Measurer Authorized by the Sovereign Magistrate who is sworn to decide all Controversies that happen in and about the Art of measuring to whose honesty and faith is intrusted this publick measure and to which all Merchants and Traders may in time of need and difference repair and have recourse unto and by which in many places it is seen that Princes do receive their duty of Customs upon Commodities measurable and by this common known and received publick measure I have made my Observation in all places and as near as I could not only rectified the same in the Agreement thereof with other neighbouring Places and Countreys but also with our own use in England and therefore to conclude this Point I have here inserted the Form of an Instrument easie to be made and purposely invented to accord the Measures of any two known Places or Countreys whether they be Ells Vares Yards Canes or any other Measure whatsoever An Instrument to find out the agreement of Measures in any two Cities First then Learn the order and custom of Measuring of all those sorts of Commodities in both Places which you would inquire after then prepare a smooth streight Board Plate or such like and draw upon the same a straight line of the length of the Measure in one of the Places with his allowance of Measuring either an Inch or Shaftnet or such like which for Example I will demonstrate in this Figure AB First then Divide the line AB into four equal parts which is CDE and divide the quarter of AC into 250 equal parts and number them from 10 to 10 upwards making the Print C the 750 part for the number of parts contained in the other three empty quarters Then mark upon the line AB the length of the Measure of the other Place with his allowance which is for Example from B to F being just in the 900 parts therefore 900 of those Measures in the first Place make just 1000 of those Measures in the other Place but if the Measure of the other Place be longer than the Measure of the first place as for Example If it were from B to G then take the distance of AG with a Compass and set one foot in C and extend the other towards A which for Example doth come to rest in F being 150 parts from C therefore then 1150 Measures of the one place makes just 1000 of the other by which you may calculate to a lesser proportion and this is as much as I conceive needful to insert concerning the knowledg of Measures in general and proceed to the next which is the knowledg in general of Commodities used by the way of Merchandizing CHAP. IX Of Commodities in general used by the way of Merchandize and of the knowledg thereof Commodities in general used in Merchandizing and the knowledg thereof HAving spoken of Cities of Trade in general as they are distinguished in these days and of the Customs more or less that are imposed by Princes in all Cities where Trade is practis'd upon all Commodities used as Merchandize by such as negotiate and use Traffick and of the Moneys and current Coins whereby this Trade is driven with the Weights and Measures whereby the same is distinguished and regulated the next thing to be handled in order is the Commodities and Wares themselves wherewith this Commerce is maintained and practised in every City and Countrey comprised in this MAP which is the proper thing upon which the said Duties are paid and for which the said Moneys are seen to be given in Exchange by the way of buying and selling All Commodities are either natural or artificial All Commodities then that are used as Merchandizes by Traders and Merchants may properly be distinguished into two kinds and are either Natural or Artificial Commodities Natural commodities Natural Commodities I call such as the Earth or Creatures either with or without the labour and Industry of man doth doth naturally produce of themselves of which kinds are Wines Oyls Cottons Wools Fruit Grain raw Silk Spices Drugs Gems Gold Silver and the like Artificial commodities Artificial Commodities I call such as are either wrought or perfected by Art or Mystery of which kind are all Fabricks of either Woollen Linnen Silk and also the Commodities of all Manual Crafts this day seen practised through the World in sundry Countreys within the compass of which two sorts may all Wares and all things used as Commodities be comprised Again both the Natural and Artificial Commodities may be distinguished into two other sorts and kinds which are either such as are staple and lasting Commodities or impairing and decaying Commodities Staple commodities The staple and lasting Commodities I call such as indure at all times and continue for ever in their true estate and first condition of goodness never decaying nor never losing their vertue and quality and of this kind are Gems Gold Silve Copper Brass Lead Iron Steel and the like Decaying commodities The impairing and
virtue taste seeing or feeling and what he hath thus learned and gained to take order never to forget by committing the same to writing and therewith to note the signs and marks of the goodness and badness of all those Commodities that a man doth either deal in or would learn to know and to make this knowledge the more compleat to note down therewith all manner of charges incident thereto and that grow in that place upon the same with the ordinary price which there it doth commonly bear and hold and though these notes should either by haste or mis-information be at the first rude and undigested or though many should prove frivolous and to little purpose it matters not much the one sort may soon be better ordered and the other may as easily be rejected his better knowledge and a little consideration may amend both these defects my reason for the same is that the use and custom of noting in this manner will make a man especially young beginners more skilful and ready in this knowledge in a year than he that taketh only a bare idle and superficial view shall be in his whole life-time for it must needs be granted that it both perfecteth skill and helpeth memory which is the only means hereto and by graving deeper impressions in a man's mind inforce him will he nill he to a more considerate and judicious observation and marking thereof whenas he hath thus absolutely tied himself to a necessity of setting down every Commodity and each particular circumstance in this manner thereto belonging And this being as much as I think needful to insert concerning this point in general I will proceed to the next and last which is of Exchanges practised amongst Merchants in the Art of Merchandizing CAAP. X. Of Exchanges in general used by Merchants in this MAP of COMMERCE Exchanges in general practised by Merchants in the Map of Commerce THe next and last general point handled in this Map of Commerce is Exchanges which is observed to be the most mysterious part of the Art of Merchandizing and Traffique being not only necessary for the knowledge of all Merchants but also fit and useful for such as negotiate the publick affairs of Princes and for such as sit at the Stern and Government of the Common-wealth The necessity and commodiousness of Exchanges The necessity and commodiousness of these Exchanges in all Traffick is doubtless very great it having found in all Countreys hitherto such a general allowance and approbation and having for so many years stood uncontrouled and is still preserved in its pristine splendor and integrity shews evidently that at first the same was invented and devised to a most excellent use and end it being observed that as Money was devised and first invented of the best and purest Metals to avoid the chargeable and troublesome carriage of Commodities in Trade from one place to another so was Exchange of Moneys first also devised and found out to avoid the danger and adventure thereof and the chargeable and troublesome carriage of the same from one City or Countrey to another The excellency c. of a Bill of Exchange I conceive it will not be material for me in this place to reckon up the divers manner of Exchanges that have been of old in use and as yet are practised amongst Traders and Merchants throughout the World nor yet here insert the form of a Bill of Exchange which in it self is accounted so noble and excellent a specialty that it carries with it not only a kind of commanding power to pay but is accordingly observed satisfied and discharged though directed from the Servant to the Master Such a high esteem being ever had to the quality thereof that the proceedings and ceremonies used therein are both singular and extraordinary and are not subject to any prescription by Law or otherwise but subsisting meerly of a reverend custom used and solemnized in and about the same Neither yet will I here mention the formalities and peculiar rites and customs that are only found to appertain thereunto either in the punctual Presentment Intimation Acceptation Protest and Return that is requisite and necessary and thereto belonging for it is to be understood that he that doth take upon him the Title of a Merchant and intendeth to make use of this Map ought not to be ignorant in all the particular circumstances of place and time either of Presentment of Payment of due Protests in Default and therewith know the common Rules governing the Causes of rising the Signs of falling of the said Prices which I here willingly omit reserving the same to a more fit occasion in the end of this Tract The mystery of Exchanges reduced to prufitable principles I have noted then the first use of this Exchanging and the excellency thereof being preserved in times past in its true integrity and reality but those honest and innocent ends are vanished with those innocent and honest days of our fore-fathers for since Trade by a more general and universal Commerce and concurrency of Nations being grown to that height and perfection that now it is this fair and candid manner and use of Exchanging and the most excellent Commodities thereof is in part given over for the subtilty of these times hath made an Art and Mystery thereof which being reduced into heads and principles hath proved in many places so profitable and beneficial to the studious therein that it is now a received opinion that the excellency thereof exceeds the Art of Merchandizing it self and what inventions and sleights to inrich themselves their policies have brought to the view of the World I leave to the censure of Malines and others that have at large discoursed thereof and described the same But where the ancient custom of Exchanges is still preserved and maintained in its true and moderate use and the crafts and abuses thereof taken away and purged it then appears to be most excellent useful commodious and beneficial as well to Kingdoms and Cities in general as to private Traders and Merchants in particular All Coins brought into one by Exchanges I have observed before that all weights and measures should be to the Merchant as one and the self same weight and measure abating or allowing as the difference of the place requireth So by this knowledge of Exchanging should all Princes Coins be brought into one and the self-same quality and parity and be to him as one and the self same Coin for if the allay or Standard of one Prince's Moneys be finer or better than the Coins and Moneys used in that place where the Merchant resideth and his consequently coarser or baser the allowance given by exchange either in time in price or in both makes up that disparity and settles thus a parity between them in drawing down the one which is the finer or raising up the other which is the baser to an even scantling time and price giving the
allowance to rectifie both the one and the other in equality and true value But so far forth is this to be understood that this is truly seen practised where a course of quiet Traffick is settled between two Kingdoms and Nations continuing in amity and firm peace together But where Princes either by the necessity of Wars or accidental great disbursements have occasion or do use to inhanse the current Rates of their Moneys in their Payments or decrying them in the Receipts and that Moneys by that either casual or constant course become either more plentiful or more scarce than ordinary then these rules of parity hold not so justly The Exchanger rectifieth the disorders of Mints and the necessity of Princes yet ever so as having in its self a predominant power over the sudden affairs of Princes in matters of Moneys and with all expedition possible rectifying by a common knowledge and consent of Exchanges and Bankers the error or necessity of Princes and their Mints who indeed are the Sovereigns of all Coins and Moneys so that though the Exchanger be not called to the Princes Counsel nor yet admitted to give his opinion and verdict either in his Mint or in the allay of his current Moneys nor yet to his Proclamations and Decrees in the setling or rectifying of the goodness or current value thereof yet the over-ruling part or Ballance is in his hand and he orders by an invisible mystery of a visible Exchange the allay value debasement or inhansement thereof with the allowances circumstances places and times being rightly considered such as the necessity of the Countrey the plenty or scarcicy of Moneys or other such like accidents may admit regulating by this means tacitely in his Closet the disorders committed by Mints and the over-sights which the great Affairs of Princes necessities plunge them in and thus erecting to himself and others of his Profession a certain Rule and publick Ballance that shall serve as an equal Parr and Standard of all Princes Coins whatsoever thereby as with a Touch-stone taking the true valuation thereof distinguishing still the fineness and coursness according to the true worth and real goodness altering and changing the price and rate thereof as time place and occasion may admit and give consent thereunto How to find out the Parr of Exchanges It now remaineth that I should shew this true Parr of Exchanges and howit may be found out and discerned in all Exchanges Experience hath made it evident to all the Learned in this Art that the true Royal Exchange for Moneys by Bills of Exchanges is fairly and substantially grounded upon the weight fineness and valuation of the Moneys of each several Countrey according to the Parr which by Bankers is understood to be value for value as the truth thereof is seen in our Exchanges in England which hath its ground upon the weights and fineness of our Sterling English Moneys the weight and fineness of each other Countrey according to their several Standards proportionable in the valuation being truly and justly made giving also thereby the price of the Exchange in and for every place according to the denomination of the Money and by which all Exchanges are or should be in themselves framed cast up and calculated but besides this real Parr of Exchange there is also a Merchants Parr which in due place I shall declare These Exchanges then in the general property thereof do much differ both in the name and in the proportion between the Gold and the Silver observed in most Countreys and that to set down the Parr of Exchanges exactly we are to examine and compare not only our own weight as is aforesaid with the weight of other Countreys but also the fineness of our Sterling Standards with the fineness of the several Standards of the Coîns of other Countreys and if we be found not to differ with them in the proportion between the Gold and Silver then may our Exchanges run at one and the same price and rate both for Gold and Silver taking the denomination according to the valuation of the Moneys of each Countrey and hereby shall we find how much fine Silver or Gold of our pound Sterling containeth and what quantity of other Moneys either of France Germany Low-Countreys Eastland and elsewhere we are to have in exchange to countervail the same in the like weight and fineness answerable to ours be it by the Pound Doller Ducate Crown or any other imaginary or real Coin giving always a value for value and receiving the like which is called by Exchangers as I said before the Parr the which should in all Exchanges be so particularly known and considered that as Money is publica mensura or the publick measure within the Realm between man and man so should Exchanges thus made for these Moneys be the publick measure between us and forein Countreys for all Commodities either bought or sold which therefore necessarily requireth a certainty in the calculation of this Parr aforesaid admitting nevertheless as I said before an advantage upon the farne upon good ground and just occasion on either side The price of the Exchanges at the disposal of the Exchanger But as the price of Exchanges is at this day seen to be at the only and sole disposal of the Exchanger and Merchant and that the same carrieth with it a predominancy in the buying and selling of their Commodities as is observed especially beyond the Sea so ought they carefully and circumspectly to consider the true nature thereof and not only look upon the present object which is to know how the price of Exchange goeth at the time when they have occasion to deal therewith but also truly to consider the Reality of this Parr as is aforesaid and as it is in it self really found to be for it is observed both here in England and abroad elsewhere beyond Seas that those who altogether do practise this Exchanging and deal for Moneys by Exchange have this observation therein for they being Exchangers indeed know perfectly the weight and fineness both of our English and of forein Coins and comparing the same together make thereby to themselves the true calculation of the Parr aforesaid wherein they are not directed by the current valuation of Coins which is often seen to be inconstant and uncertain nor by the toleration of Moneys either here or beyond the Seas going sometimes and in some places current above the said valuation and this indeed is one of the most mysterious parts that is included in this Art of Exchanging which the Merchant ought considerately to learn and distinguish And concluding here all further Observations and Circumstances practised in the general Exchanges amongst Merchants I refer the Reader for what is here purposely omitted to the end of this Tract where I have inserted what I have conceived to be further needful hereunto The Office of Garbling That King Henry the Sixth did first give the Office of Garbling all
75  Madera 57 v.  Lucques 111 Br. Florence 113â…”  Millan 124¾  Genoa 267â…ž Pal. The liquid Measures are these Of Wines Wines are sold in Venetia two ways either in gross or by retail the gross by the Amphora and Bigonsa and by retail by the Quart the Sachio and Lire where note That the Amphora is four Bigonsa and the Bigonsa is 4 Quarts and 1 Quart is 4 Sachi and 1 Sachi is 4 Liras or pounds but buying the same in gross that is by the Amphora and the Sachi 1 Amphora is â—4 Quarts and 1 Bigonsa is 3 Quarts and half Of Oyl Oyl is here also sold two ways first by Measures and next by the Weight of the Staliero the Measure is called the Miaro and is 40 Mire and by the gross Weight is 120 l. and 1 Mira makes by measure 25 l. and by weight makes 30 l. 3 ounces Of Corn. Corn is sold by the Staio which is 132 l. gross Venetia and in Florence 175 l. which is divided to 4 4 and to 8 8 and to 16 16 parts by which is made the Scandalios the ¼ being 32 l. the â…› 16 l. the 1 16 8 l. of gross Accounts in Venetia Their Accounts are kept in Venetia divers ways as by some in Ducates and Grosses at Livers 6 and 4 sold per Ducate accounting 24 Gross to a Ducate Others again by Livers Sols and Gross which are valued at 10 Ducates the Liver accounting 20 Sold. to the Liver and 12 Deniers gross to a Sold. Exchanges of Venetia The Exchanges made in Venice I have inserted in the 281 and 368 Chapters together with all circumstances thereto belonging where by the way it is to be noted That in time past the goodness of their Moneys both in payment for Merchandise and in payment for Bills of Exchange was alike and of equal goodness and value but these wise Senators fearing to lose what they cannot keep I mean that little Trade they yet hold in comparison of what they had lost by their providence and circumspection set a distinction between the Moneys payable for commodities Difference betâ—een money in banco and out of banco in Venice 20 per centum which they term their current Moneys and out of banco and between their Moneys paid by Bills of Exchange which they term in banco which hath had its original upon such unfit grounds that the very naming thereof and the particular circumstances of this difference is dishonourable to this Republick which therefore I will omit only thus far the necessity thereof is to be remembred and to be well known and understood by all Merchants and Exchangers that Trade and Traffick to this City that the difference now at this time holds in proportion between 20 and 21 per cent so that it doth appear to all men that reside here or have any commerce into this City that their payment made in banco and by Bills of Exchange is accounted better by near 21 per cent than the payments made for Commodities bought and sold between Merchant and Merchant Customs of Venetia The Customs of Venice are several altering upon many Commodities and though the wisdom of this Republick do manifestly discern a great diminution of their Customs in general yet it so falls out that they impose still greater as it were endeavouring thus to make up the annual rents thereof as of late they have done upon Currans under pretence that if the English will come and lade them in the Port of Venice or otherwise come thither laden they are then freed of a new Impost which is lately levied in Zant upon a Commodity but they being of the condition of many Princes that finding their Countrey enriched with an eminent commerce and a plentiful Trade never leave imposing new Customs and Imposts thereon till the Trade and Customs and Imposts and all other the benefits thereof are slipt out of their fingers and fled for protection to some other more friendly and neighbouring State or place where the same finds a greater ease and a lesser charge and that have Venice Anvers Lions and Genoa lost that famous Trade which for many years hath made those Cities renowned and by their fall and easie Customs have Leghorn Marselia Amsterdam and London risen to that height wherein they are now found to be which if the Prince thereof do wisely cherish and content themselves with a reasonable Duty such as Trade in it self may well bear and the Trader live and ceherfully proceed in his Negotiations they may see their Countreies daily to flourish and grow both rich and renowned thereby otherwise Tradâ— will insensibly she from them the Merchants will give it over or find out new paths and divert it into some other place Shipping will in an Age rot and perish and Navigation will quickly be forgotten and these Kingdoms must have other Nations to supply them at the second hand and by strangers Shipping with those necessary Commodities which the Countrey stands in need of and the same both at dear rates and to the too late Repentance of the State it self as may now be verified by this of Venetia who would with many Millions redeem that lost Trade and would with free liberty of Customs entertain that Commerce which themselves peradventure by their too great Customs and Imposts levied thereon by little and little in times past have of their own accord wilfully or willingly lost and thrust from them as I shall declare further in the Trade of Leghorn and other places which have of themselves no commodity to maintain a Traffick yet have all things and want nothing that all other Countreies can afford only by the benefit and commodity of an easie light duty of Custom imposed upon Merchandise by the liberty and freedom of the place and Traders thereinto and forasmuch as this State have by their wisdom made of late days divers subtle Decrees for the benefit of their own Traffick and for the regaining of their lost Trade which are in themselves prejudicial to many other Nations but principally to the English I hold it not improper in this place to mention some of the principal thereof that thereby if any the able furtherers of the English Traffick shall happen 〈◊〉 peruse this Tract fit remedies may be enacted to meet these Decrees Injurious Decrees of Venice against the Trade of the English in the Levant Seas which I may call particularly injurious to the English Subject and Merchant and tending to draw the whole Trade of the Levant Seas to the City of Venice only to the general prejudice of the Shipping of his Majesty of England Trafficking in those Seas which I conclude under 〈◊〉 Points 1. First they have considered the late great Exportation of Currans out of Zant and Zeffalonia two Islands of their Signiory into England and that the principal Trade of the English into their Signiory is only for this Fruit therefore they have of
City exchanging and in what Region or Country seated Secondly the Manner and Method wherein the Accounts in that City is kept by Exchangers Thirdly the Quality of the Moneys in use is observed and in what Coin imaginary or real that City is accustomed to make its Exchange with the others there mentioned Fourthly underneath that is orderly set down the Names of all the other Places the which by a Line are found to be joyned and knit together and lastly in the midst of the Line is written the Name of the Place and City it self for which the said Table in the said Leaf is made As for Example in the first Leaf which is for Placentia in Italy where besides the Name of the Place it self is found these words Placentia exchangeth with the which words by reason of the including Line drawn from the highest to the lowest hath reference to every one of the Names of the other Places which are so included together so that it is to be understood as that Placentia exchangeth with Lions Placentia exchangeth with Reâ—e with Genoua c. and so in the rest from one to another Next to every one of the said Names of Places followeth the Species or Moneys exchanged either by an entire and whole Sum or by a broken and lesser denomination which the place in the Table giveth in exchange by proportion with the other to whose Name the said Moneys are placed and put unto as to say Placentia exchangeth with Lions 100 Crowns that is understood that in Exchanging between Placentia and Lions 100 Crowns of Placentia are supposed and put by an equivalency or in value to that quantity or sum of Money which is found to be noted in Lions following As in the said Example Placentia exchangeth with Lions Crowns 100 for Crowns 97¾ so likewise is it to be understood that in the said Exchanges that for every 100 Crowns of Placentia or of Fiera or of Mark it is as much as to say as Lions counter-payeth or giveth 97¾ of his Crowns that is of the Sun Also Placentia exchangeth with Genoua Crown 1. for Sol. 67. 10 d. that is to say that Placentia Exchanging with Genoua it giveth or as I said before it selleth Crownâ— of Mark to have in Genoua Sol. 67. 10 d. of Gold and in the same manner the rest of the said places are to be understood Though the Tables of Exchanges differ from the present Rates yet the use thereof is not any way lessened and whereas the Rates and Prices of these Exchanges may here be sound to disagree from the current Rates of the same in sundry places as at this very day and time yet that cannot take away the Benefit that may redound to Merchants by the use thereof nor prejudice the Labour or Judgment of him that calculated the said Table because we see by experience that the Rates of Exchanges do hourly differ and the Moneys also are found to rise and fall daily in sundry places upon which these Exchanges have their Ground work and Foundation and though a Table were calculated precisely to this present day and time yet e'er the same could be published it would find a disagreement in divers places CHAP. CCLXXVI The Use of the Table of Exchanges The use of the Table of Exchanges by three Examples THE method being thus understood the use thereof is easily comprehended which by three Examples I shall illustrate and make plain where by the way it is to be noted that in Exchanging of any Sum of Moneys whatsoever the Rates mentioned in this Table are not observable save only for the Examples sake and for Instruction in the Contract that may be made thereupon but the Rate agreed upon and by which the Exchange is conditioned by both the Giver and Taker is the true and firm Rule whereby the question is to be wrought First Example notwithstanding for the first Example we will propound a Question by a contracted Price according to the current Rates mentioned in this said Table and that from Naples a Merchant would exchange Ducats 738. 4. 10. with Placentia and the Price of the Exchange shuâ— be that which is mentioned in the Table of Naples with the Town of Placentia where it is found that Naples exchangeth with Placentia at Grains 133 for a Crown By these three Numbers in the Tables mentioned I work thus then by the Rule of Thres saying If 133 Grains give 1 Crown how many do 738 Ducats 4. 10. give and working Arithmetically according to the said Rule it makes 555 Crowns 11. 3. of Mark in Credit to be given in â—…era of the said Placentia Second Example For a second Example I will propound that Naples would exchange 500 Ducats with Placentia at Sold. 18. 2 d. c. This Example considered will not be found to differ from the former save that in the former Naples gave the lesser or broken Number and in this Naples gives the whole and entire Number notwithstanding which the Rule is not found to differ as in other the like Questions in simple Exchanges wherein it is to be observed that Sol. 18. and Den. 2. of Valentia are paid for 1 Ducat of Naples and by that Price and Rate I would know how many Livres of that Money of Valentia the proposed Sum of 500 Ducats in Naples come into and by that which we find in the Table by the same Rule of Three I say if one Ducat is worth 18 Sol. 2 Den. how many shall 500 be worth and by working the Question it makes 454 Livrâ—s 3 s. 4 d. and so much Credit will 500 Ducats of Naples give at the Price aforementioned thus Third Example All other Exchanges have their Resolutions as these two former but yet sometimes it is true some accidents may interpose which may cause the Question to have a double working as if I should say that Genoua would exchange with Venetia Crowns 1000 of Livres 4. to Livres 7 l. 10 Sol of that Money and the Credit is required in Ducats Now then because the simple Exchange gives the Money in Livres you must make another reckoning to reduce the same into Ducats but yet for all this neither in this nor in any other case would I have but one account made the which may be done by the Rule multiplied I say then if 1 Crown be worth 7. 100. Den. and that 6 s. 4 Den. is worth one Ducat how many Ducats will a 1000 Crowns make and by working the Question it will be found to make 1209 Ducats 13. 6 d. for Credit which from Genoua will be produced by a thousand Crowns in Venice the Question being well observed it will be found to be wrought in this manner It is to be noted that in what place soever the Moneys are accounted by Livres Sols and Den. or as we say in England by Pounds Shillings and Pence it is accounted by 20 and by 12 because that Sol. or Shill 20
Of the Terms of Payments in general of Bills of Exchange The terms of payment of Bills of Exchange five TO make these Tables compleat and the Rules of these Exchanges to be truly and rightly understood it is observable that as all Exchanges have a settled Rate and Price by which the Taker taketh and the Giver by Covenant giveth it so is there likewise a certain positive term and time limited wherein and at which day expired the Factor of the Taker or his Assign repayeth the covenanted Sum to the Factor or Assign of the Giver thereof which term oâ— time is of differing space of days prefixed The common term or times by which all Bills in Exchanges are made are found usually to be five which is first at sight of the Bill secondly at Usance thirdly at double Usance fourthly at half Usance fifthly at Marts Fairs c. which five Terms in Exchanges are thus understood 1. At Sight First then at sight or so many days after sight is understood to be so long a term or time as the Bill of Exchange will be after the delivery going to that place where it is covenanted that the same should be paid and upon the shew and sight thereof or at so many days after as is specified therein it must be paid and answered accordingly 2. At Usance Secondly at Usance is understood to be of a different term and space of time sometimes consisting of 8 days as from Rome to Naples sometimes of 10 days as from Genoua to Rome sometimes of 30 days as from London to Rouen to Antwerp to Middleburgh to Amsterdam and so to other places sometimes of 60 days or two months as from London to Hamburgh from Antwerp to Rome and to Venice and to Florence to Naples to Palermo and so to other places Sometimes again Usance is understood to be 90 days or three months as from London to Venice Florence Naples c. according to the several Customs of the said distant several places where the Bills of Exchanges are made and ever accounted from the date of the said Bill 3. At double Usance Thirdly at double Usance which considering the said places is understood to be double the former spaces of single Usance being either of 8 10 30 60 or 90 days doubled according to the Custom of the place where the Bill is made and accounted also from the date of the said Bill 4. At half Usance Fourthly at half Usance this is understood to be half the abovesaid limited term or time according as as I said before to the common Custom of that place where the Bill is made and accounted also from the date of the Bill 5. At Fairs and Marts Fifthly at Marts or Fairs which by Italians and Spaniards is called La Fiera and this space of time for payment of Bills is understood to be at some certain days accounted for Fairs in the said places where the Bills are made to be payable as is found in Placentia quarterly four times of the year the like observed generally in Lions and in Castile at three times of the year accounted as in three Banks 1. I' las Fieras de Vilaleon 2. de Medina del Campo 3. de Medina del Rio Sicco which places are as publick Marts whereunto Merchants do use to give and take sometimes to benefit themselves by Exchanges as in the abovesaid places and sometimes to buy Commodities and supply their occasions as is used twice a year for some Marts in Germany as I have touched more largely in the Description of the Trade of the said Cities CHAP. CCCI. How the Rates and Prices in Exchanges are settled How the Rates and Prices of Exchangers are settled THE next thing considerable yet to be handled for the explanation of these Tables of Exchanges is the Rate and Price it self for seeing that so many Merchants of great eminence whose Estates are continually traversed from one Country to another and from one Coin to another do daily and constantly give and take as their occasion and the Rates of the Exchanges conduce to their Profit it may be conceived that their great Purses should prescribe the Rule and Rate thereto which is seen so variously to alter and daily to rise and fall by the continual current of those and others that use this Mystery yet notwithstanding not found that they have any determinate Power or Stroke in giving the Price thereto though it must be confessed that such have a conducing hand so far forth as it may be â—ound that their Opinion concurs with the universal Opinions of the rest interessed in this mystical body of Exchanges And therefore to explain my self it may fitly here be demanded how those Rates and Prices of Exchanges come to be set and then continued or how it comes to pass that the same are seen so frequently to vary and alter in forein Parts Whereto I answer That the Bankers in Italy Spain and France being now a days found to be the only great takers and deliverers of Moneys have at the times of Payments of Exchanges in the principal places aforesaid as namely aâ— Lions in France Madrid and in other places of Spain Florence Genoua Venetia and such other places in Italy a constant meeting and there by certain Tickets in writing deliver every Man his Opinion what the Price of the Exchange ought to be for all places Then exchanging for the next Fair or time of payment in every the said places and according to the same the Calculation is cast up by the Medium that is to say if there be seven or more Voices or Tickets the said seven are added together and the seventh part is the medium and if there be ten then the ten being cast up the tenth part is the medium and so for greater or lesser numbers accordingly wherein it is to be noted that these Bankers do observe how the plenty of Moneys lieth by Exchange how the occasions of Princes may help or hinder either by great Receipts or great Disbursements how the Trade and Commerce of the Negotiators and Merchants is concurrent and effective and therein they are found to concur in setting the said Rates and Prices for their own Commodity and Advantage And from this Spring is observed to rise the main Ocean of all the Exchanges of Christendom in which this our Country of England hath but a small share as being only a Branch derived from the principal Channel CHAP. CCCII Of the Par in Exchanges Of the Par in Exchanges which is two THE next thing observable here is the Loss and Gain accruing by these Exchanges practised amongst Merchants To distinguish which and for the finding out the reality thereof every Giver or Taker applieth his study to find out the true and real Par of Exchanges whereby it is manifested both what the Gain and Loss is and who is Gainer and who is the Loser Now this Par in Exchanges may be
presently the same day and in convenient time of the day to carry bank the Bill to the Party of whom I received it that so he may cause the same to be protested for Non-payment if he please and may not be any ways prejudiced through my Detention of his Bill beyond the due time And usually the Party of whom I do receive such a Bill to go for my Mony doth give me order in case I have not my Mony paid me either to bring him back the Bill again or else to carry it to a Notary to be protested and come to him and he will pay me which if he do not and that it be the third day of my Bill I must likewise protest it against him for want of present Payment Several Forms of BILLS OF EXCHANGE in several Languages Laus Deo in London this 16 of Novemb. 1654. for 100 l. sterling AT six days sight pay this my first Bill of Exchange to Mr. Abraham P. or Assigns one hundred pounds sterling for the value here received of Mr. John D. make good payment and put it to Account as per Advice Your loving Friend William M. To Mr. Francis W. Merchant dd in Exon. P ◠Laus Deo in London the 16 of November 1654. for 100 l. sterling AT six days sight pay this my second Bill of Exchange my first not paid to Mr. Abraham P. or Assigns one hundred pounds sterling for the value here received of Mr. John D. make good payment and put it to Account as per Advice Your loving Friend William M. To Mr. Francis W. Merchant dd in Exon. S d◠If he who under-writes the Bill is to make himself Debitor then he writes in the Bill And put it to my Account but if he who ought to pay it and to whom it is directed is Debitor to the Drawer then he writes And put it to your Account Also sometimes it is expressed in the Bill thus And put it to the Account of such an one Laus Deo in London this 17 of Novemb. 1654. for 100 l. at 36 s. 8 d. Flemish per pound AT Usance pay this my first Bill of Exchange to Mr. Cornelius Vande B. or Order one hundred pounds sterling at 36 s. 8 d. Flemish per pound sterling for the value here received of Mr. John C. make good payment and put it to Account as per Advice Your loving Friend Thomas D. To Mr. Peter E. Merchant dd in Amsterdam P ◠The second Bill is the same with the first only with this Alteration and Addition At Usance not having my first pay this my second Bill of Exchange to Mr. Cornelius Vande B. or Order c. Laus Deo in London adj 17 Novemb. 1654. for 333¼ ▿ at 52 d. sterling per ▿ AT double Usance pay this my first Bill of Exchange to Mr. Robert A. or Assigns the Sum of three hundred and thirty three Crowns and 〈◊〉 third for the value here received of Mr. Henry B. and put it to Account as per Advice Your loving Friend Richard C. To Mr. Charles D. Merchant dd in Rouen P ◠Laus Deo in London adj 17 Novemb. 1654. for D t s 564¼ at 51 d. ½ sterling per Dt. THree months after date pay this my first Bill of Exchange to Mr. Daniel A. or Order Ducats five hundred threescore and four and one quarter in banco for the value here received of Mr. John B. and put it to Account as per Advice William C. To Mr. Thomas D. Merchant in Venice P ◠Ihus Malaga 13 Noviembre 1654. A. Son 132 l. 7 s. 6 d. A Quarenta dias Vista pagara V. M. por esta mi teroera no aviendo pagado por la pri mera y segunda ala Voluntad de Diego P. Ciento treynta y dos libras siete sueldoi y seis peniques esterlinus Valor aqui recevida de Henrique G. y◠sutiempo ara V. M. buen pago a sentandolas come a viso Xpto con todos Antonio de S. A Juan D. g de Dios Londres Adj. 18 Augusti 1654. in Venetia Dt. 1000. a d. 54 per D to AUso pagate per qa. pma. di Cambio alli SS ri f. de V. figli d'Ham ◠o chi ordinerann◠D ti Mille a d Cinquanta quatre per D to valuta Contmi. e ponete Come vi s'avisa a dio Tomaso D. Al Mag co S ◠Ricardo W. in pma Londra The Assignment on the backside is thus ET per noi pagate il contenuto diquesta senza aitra procura al Sr. Gio. W. Cambiati con Sr. Francisco R. Hamburgo 28 Augusti 1654. per F. de V. figli Livorno the 21 Novemb. 1654. per L. 239 13 9 sterl at 59 d. Dollars 975. THree months after date of this my first Bill of Exchange my second or third not being paid pay unto Mr. William G. or Assigns the Sum of two hundred thirty and nine pounds thirteen shillings and nine pence sterling for the value received here of Mr. Thomas W. placing it to Account as per Advice Thomas S. To Mr. Robert B. Merchant in London P ◠Amsterdam adj 27 Octob. 1654. Voor 100 l. sterl OP uso betaelt desen myne eersten wisselbrief ten Sr. Jan E. ost ordre Hondert ponden sterlinex Valuta Van Sr. Robert G. stelt op myn rekeninge al 's per advys Martin P. Ersamen Sr. Willem S. Coopman tot London P ◠A Paris Ce 10 Juillet 1654. pour 450 ▿ a 52 d. sterl per ▿ A Double usance payez per ceste premiere de change a Monsr Paul M. ou a son ordre quatre Centz Escus a Cinquante deux deniers sterlins pour Escu valleur receu de Monsieur Franceis L. passez a compte suivant l'advys de Ure treshumble serviteur Daniel F. Monsieur Monsieur Guillaume G. Merchant a Londres P ◠If there be an Assignment on the backside thereof it runs thus Le Contenu de ceste payez au Sr. Pierre H. ou ordre valleur du Sr. Jean C. Paris 26 me Novembre 1654. Paul M. Rotterdam 2 Oct. 1654. for 200 l. sterl AT double usance pay this my first of Exchange to Mr. Roger C. or Assigns Two hundred pounds sterling for the value received of himself and put it to Account of G. P. as per advice Your loving Friend John M. To Mr. Peter H. Merchant in London P ◠If this Bill be negotiated by Exchange or the Mony taken in and so to be Assigned over to another man the Assignment must be written on the backside of the Bill thus Pay the Contents on the other side hereof to Mr. Humphery N. or Assigns value of Mr. Joseph B. Rotterdam 4 Oct. 1654. Roger C. But if Humphry N. do likewise assign the same Bill for his Account then he writes only thus Pay the Contents hereof to Mr. John D. Humphery N. Take up Mony for another Man how performed IF a man would take up mony by Exchange and he be
one of them do accept it and the other do refuse to accept that Bill must be protested for want of due acceptance but if the Bill do come directed thus To Robert A. and John B. or to either of them Or thus To Robert A. or in his absence to John B. in this case the Bill being accepted by A. or B. namely by but one of them it is sufficient and the Bill ought not to be protested for want of due acceptance in regard being accepted but by one of them on whom it is drawn it is accepted according to the tenor of the Bill Verbal Acceptance IF a Bill of Exchange be presented to the party to whom it is directed to be accepted and he do answer you thus Leave your Bill with me and I will accept it Or thus Call for it to morrow and you shall have it accepted or such like words promising acceptance such an acceptance is binding and amongst Merchants is taken for an acceptance of the Bill if the same can be proved by witness and if afterwards he to whom the Bill is directed shall refuse to set his name to the Bill and to write under it Accepted by me Richard D. according to the most usual manner here in England In this case the party to whom the Bill is payable may content himself with such an acceptance until the time of payment and then if payment be not made by the party who promised acceptance thereof as is before specified the party to whom it is payable may take his course in Law against the party so accepting and questionless will be compelled to the payment thereof provided the Bill be first protested in due form for non-payment and surely such a verbal acceptance is good and binding and there is a great deal of reason for it for it may so be that that Bill of Exchange was drawn for provision to the party to whom it was payable to the end to pay some other Bill of Exchange charged and drawn on the party to whom the former Bill was payable and he having such a verbal promise of acceptance upon confidence therefore may chance to have accepted the other Bill drawn on him Or it may be the former Bill was sent him to furnish him with Monies to buy some Commodities for the party that remitted the same and upon such a verbal acceptance supposing the Monies will be paid him at the time he may happen to have bought the Commodities for his Friend and may peradventure have written to his Friend that sent him the Bill and having given him advice that he is promised acceptance or that he doubts not of acceptance or the like and upon such advice given his Friend will take notice thereof and make his account accordingly and verily if it were not so namely that such a verbal acceptance were binding there might happen great inconveniences in matter of Trade between Merchant and Merchant amongst whom in their way of Commerce their word is or ought to be as binding as their writing Accept for part IF the party to whom your Bill of Exchange is directed say unto you when you present him the Bill to be accepted That he will accept it for part in regard he hath no more provision in his hands from the party for whose account the Bill of Exchange is drawn or that he oweth him no more upon Account or other the like reasons best known to himself In this case you may take such his acceptance for part but then you presently go to a Notary publick and cause the Bill to be protested for want of acceptance for the whole Sum therein mentioned and you must send away that your Protest to the party which sent you the Bill that he may thereupon have security from the party which took up the Mony for the remaining Sum. And so likewise at the time when the Bill shall fall due you must go and receive the Sum for which it was accepted and you may make a Receipt upon the Bill for the same using these or the like words Received this 22 January 1654. in part of payment of this Bill twenty five pounds six shillings I say Received per me John N. And then you must cause Protest again to be made for non payment of the remaining Sum and send the same back according as you formerly did for non-acceptance Note on your Bills the times when they will fall due AFter you have presented your Bills of Exchange and received them accepted then presently reckon when they will fall due and if you have any Bills drawn from France or Italy or other parts in French Crowns Ducats Dollars or other outlandish Mony look in the Bills at what rate or price they are drawn for Exchange of the Mony here in England and reduce them to our English Mony and then note on the backside of your Bills close to the top at one end thereof in short the time when your Bills will be due with the just sum which you are to receive at the time according to the tenor of your Billâ— before you lay them up in your Counting house to the end that at any time when you would desire to know upon any occasion what Monies you have to receive and when payable you may presently looking over your Bills see and know the same on the backside of the Bills which you will find to be much ease very convenient and indeed Merchanâ— like and I have known it practised by some of the best and most experienced Merchants in London Keep or return Bills accepted YOur Bills thus accepted if payable to your self you may lay up by you in your Counting-house until the time of payment be come or that you have other use thereof but if payable to him that delivered the value or that sent them you to cause to be accepted then you must therewith follow his order either in keeping them by you until further order or in returning them back to be endorsed and it may be to take in the value thereof himself which he may likewise do on the second Bill if he have it by him and so assign it over to another man and send you his order to deliver the accepted Bill to some other person who may have the second Bill endorsed payable unto him The Deliverer is Master FOr you are to take notice That the party which first delivered the Mony on the Bill of Exchange if the Monies he delivered were for his own proper Account is rightly and properly Master thereof until the Bill falls due and he can or may prohibit the party to whom it is directed not to pay the same at the time unto him to whom the Bill is first made payable supposing him to be a Factor for the Deliverer although the party on whom the Bill is drawn have already accepted the Bill which prohibition is called a Countermand and ought to be done in due form and but upon special sure ground
therefore conclude that he hath no goods to sell Ought not I rather to be blamed to give disturbance to him at such an hour of the night I could say much in this particular but as I desire not to give advantage to any ill affected to forbear payment of monies due by Bill of Exchange whensoever the same is justly and rightly demanded so I dare not conclude a protest to be legally made at any hour of the night or at an unseasonable time You cannot err in causing protest to be made if occasion be on a working day before noon or after noon in the time that men do generally use and exercise commerce and trade as well in buying and selling of goods as in paying and receiving of monies And therefore to prevent all objections which may be made against the legality of the protest Nota. I would advise every one that hath occasion to cause protest to be made for non-payment to play above board and to let their protest be made at convenient time as is before declared for you are not bound not to protest until the last hour of the third day after the Bill is due but you are bound by the Law of Merchants used in England to protest within the three days and before the last hour be expired which is generally taken at sun setting or thereabouts wherefore you may as well protest in the forenoon as in the afternoon and as well at two of the clock in the afternoon as at four of the clock And therefore be sure you do not prejudice your self in tarrying beyond your time before you cause protest to be made for non-payment of your Bill in case it be not paid before the third day Protest returned for non-acceptance or want of better security WHen any protest is returned unto you for want of acceptance or for want of better security upon receipt thereof you must presently repair with the protest to the party to whom you delivered your mony upon the Bill of Exchange which is either the Drawer or Indorser and upon sight of the protest he must give you good security to your content for the monies so taken up by exchange to be bound to repay the same with rechange and costs in case it be not paid at the time by the party on whom it is drawn and therefore the usual custom is in this case that the drawer or indorser having received the value must procure an able man some friend of his to underwrite the protest which is come for not acceptance or for want of better security using these or the like words I here under-written do bind my self as principal according to the custom of Merchants for the sum of mony mentioned in the Bill of Exchange whereupon this protest is made London this ninth of February 1654. John G. Protest for non-payment returned BUT if a protest be returned for want of payment and if you have had security already given you on the protest for non-acceptance or for want of better security then upon receipt of your protest for non-payment you may only acquaint the drawer or party that took up the mony therewith and tarry out the same proportion of time at which the Bill was made payable to be accounted from the time it fell due before you demand your principal mony with the rechange and charges of the party that drew the Bill or of his surety who according to the Law of Merchants are bound joyntly and severally to repay the same upon the protest for non-payment but if the Bill was accepted and the acceptor not failed so that there was not any protest made till the Bill fell due and then there comes a protest for want of payment In this Case you must take security upon that protest for non-payment as is directed here before upon the protest for non-acceptance except the drawer do presently pay down the money and interest and charge accrewing from the day it fell due until that very day of shewing him the protest for non-payment and that you do consent thereunto for otherwise in case a Bill be protested for non payment and the protest exhibited to the drawer he may giving security as before keep the money until so much time more be elapsed as the Bill was drawn for before he can be compelled to make payment As now for instance if the Bill be dated in Amsterdam the ninth of February and payable at usance in London and protested for non-payment the drawer may claim the like time of usance for repayment thereof as above so that as there was one month for the Exchange of the mony from Amsterdam to London so likewise there must be another month for re-re-exchange of the mony from London back again to Amsterdam and thus you see it will be the ninth of April before you can have your money with the re-re-exchange thereof and charges at Amsterdam but if the drawer will keep the mony out the time and yet will not give security upon the protest then the deliverer may presently take a course in Law against him and he will be compelled to repay the same with costs and considerable damage Keep the accepted Bill but return the non-accepted WHen an accepted Bill is protested for Non-payment I would advise to send away the Protest as I have shew'd before but to keep the accepted Bill in your own Custody except you have express order to the contrary for the Protest for Non-payment will be sufficient proof whereby to recover of the Drawer and then withal if the first Bill be accepted the second Bill will serve against the Drawer as well as the accepted Bill but here in England you cannot take course in Law and expect a good Issue in your Suit against the Acceptor without the original accepted Bill be produced in Court so that you keeping the accepted Bill by you and sending your Friend the other Bill if you have it with the Protest he can sufficiently thereby claim his Mony of the Drawer or Party to whom he hath delivered the Value and likewise you at the same time if it be an outland Bill may implead the Acceptor upon the accepted Bill and if the Drawer should desire to have in the accepted Bill as well as the other before he repay the Mony it will be time enough to send the accepted Bill when it is so desir'd but I would not advise to send away the accepted Bill with the Protest for Non-payment for fear it miscarry nor to part with the accepted Bill without special order and upon good grounds But if the Bill was never accepted and not paid at the time then there is no danger to send back the Bill with the Protest for Non-payment both together for you have done your whole Diligence needful concerning that Bill and it will rest wholly upon the Deliverer to seek his Remedy against the Taker up of the Mony and to procure Payment thereof from him as is fitting Bill
of Exchange lost left to be accepted IF a Bill of Exchange be lest with a Man to be accepted and he happen to have lost the Bill or that it be mis-deliver'd that is to say deliver'd by him or any of his Servants or by his means to a wrong Party or if in any case the Party which left the Bill to be accepted cannot have his Bill of Exchange re-deliver'd to him accepted or not accepted according to the Custom of Merchants In this case the Party that lost the Bill namely he on whom it is drawn or through whose means it is mis-deliver'd if he intended to accept the Bill or if he had accepted it must give a Note under his hand and seal for the payment of the Mony mention'd in the Bill to the Party to whom it was made payable or his Assigns at the time limited in the Bill I say to pay the Mony upon the second Bill if it shall come to hand within the time or else in default thereof he must bind himself to pay the Mony upon that Note at the same time for it is but just and reasonable that he who hath lost my Specialty or Bill of Exchange should make it good to me by some other means equivalent thereunto but in case the Party that thus lost the Bill do refuse to give such a Note under his hand and seal then he who presented the Bill to be accepted or that left the Bill with him must presently cause Protest thereupon to be made in due form and must send the Protest away by the first Post and in like manner make Demand of the Mony at the time tho he have neither Note nor Bill of Exchange and in default of Payment he must cause a second Protest to be made and send it away as the former But in case there be such a Note made and at or before the time limited for Payment thereof the second Bill of Exchange shall not come to hand you must go receive the Mony upon that Note according to the Contents thereof and in default of Payment you must cause Protest to be made upon that Note for Non-payment as if you had the accepted Bill or that the second Bill were come to hand but not paid at the time Bill endorsed in Blank IF a Bill of Exchange be made payable to one beyond the Seas or to one within-land in the Country and he subscribe only his Name on the backsidet hereof leaving an empty place above his Name and do so send it to a Merchant or Friend to get it accepted and to receive the Mony at the time therein limited of the Party on whom the Bill is drawn as it is usual to do the same is sufficient warrant for the Party to whom the Bill is sent to get it accepted and and to receive the Mony accordingly And in this case when the Party that hath the Bill shall go for the Mony when the Bill is due he may either receive the Mony himself or send his Man for it if he go himself he may either write an Assignment in the empty place above the Name on the backside of the Bill and so make it payable to himself and then when he shall have received the Mony he must make a Receipt for the same underneath the Assignment in his own Name in ordinary manner for so much Mony received Or else he may forbear making an Assignment in the empty place to himself and instead thereof he may in the same empty place above the Name make a Receipt as if the Mony had been paid to the Party to whom the Bill is payable and that set his Name thereunto in blank and if he send his Man with the Bill to receive the Mony the Man may upon the receipt of the Mony either deliver up the Bill as it is without writing any thing upon it or else he may as before fill up the empty place with an Assignment payable to his Master and then make a Receipt underneath for so much Mony receiv'd in full of that Bill for his Master's use governing himself therein according as the Party that shall pay the Bill of Exchange shall direct for either way is good and warrantable according to the Custom of Merchants used in England Accept for Account of Drawer IF a Bill of Exchange be subscribed or drawn by Abraham F. on Benjamin G. for the Account of Charles H. and it so happen that Benjamin G. to whom the Bill is directed will not accept the Bill for account of Charles H. as it is drawn but would willingly accept it for the account of Abraham F. being a special Friend to Benjamin G. on whom it is drawn and so this Benjamin G. is very unwilling to suffer the Bill to go back by Protest for Non-acceptance and therefore he desires to accept it for Honour of the Drawer and for his Account In this case according to the Law of Merchants Benjamin G. may so accept the same but before he do accept the Bill he must personally appear before a Notary publick and declare before him such his Intent and the Notary must make an Act thereof in due Form to be sent away by Benjamin G. to Abraham F that so he may have speedy Advice thereof and the Act being entred then he may accept the Bill for the Honour of the Drawer and for his account And when the Bill is due he must cause a like Act to be made for Payment before he pay the Bill declaring that he will pay the Bill for the Honour of the Drawer and for his account but not for account of Charles H. for whose account it was drawn and thus Benjamin G. giving Honour to the Bill altho he do it for another account than for which it was drawn according to the Custom and Law of Merchants generally observed Abraham F. is bound to make the same good again unto Benjamin G. with Exchange Re-exchange and Costs but Benjamin G. must be sure to make such his declaration before he do accept the Bill or any ways engage or oblige himself thereunto for otherwise if he should first accept it and that it might be lawful for him at any time afterwards to alter the Property thereof and charge it for account of the Drawer at the Acceptor's Pleasure the Drawer Abraham F. might be much prejudiced as in reference to Charles H. by whose order it may be and for whose account Abraham F. drew the same Bill Bill paid upon Protest IF a Bill of Exchange be drawn upon a Merchant or any other here in London and he refuse to pay it or hath not Mony ready to make present Payment at the day and thereupon Protest is made for Non-payment and another Merchant or Friend to the Drawer having notice thereof doth appear and declare before a Notary publick that he will pay it for honour of the Drawer upon protest and accordingly doth pay the same and cause an Act to be
is before declared It is not then possible but that all the Over ballance or Difference should return either in Mony or in such Wares as we must Export again which as is already plainly shewed will be still a greater Means to increase our Treasure The Proverb saith He that hath Ware hath Mony by the Year For it is in the Stock of the Kingdom as in the Estates of Private Men who having store of Wares do not therefore say that they will not venture out or Trade with their Mony for this were ridiculous but do also turn that into Wares whereby they multiply their Mony and so by a continual and orderly Change of one into the other grow Rich and when they please turn all their Estates into Treasure for they that have Wares cannot want Mony Neither is it said that Mony is the Life of Trade as if it could not subsist without the same for we know that there was great Trading by way of Commutation or Barter when there was little Mony stirring in the World The Italians and some other Nations have such remedies against this Want that it can neither decay nor hinder their Trade for they transfer Bills of Debt and have Banks both Publick and Private wherein they do assign their Credits from one to another daily for very great Sums with Ease and Satisfaction by VVritings only whilst in the mean time the Mass of Treasure which gave foundation to those Credits is employed in Forein Trade as a Merchandize and by the said means they have little other use of Mony in those Countries more than for their ordinary Expences It is not therefore the keeping of our Mony in the Kingdom but the Necessity and Use of our VVares in Forein Countries and our want of their Commodities that causeth the Vent and Consumption on all sides which makes a quick and ample Trade If we were once Poor and now having gained some store of Mony by Trade with resolution to keep it still in the Realm shall this cause other Nations to spend more of our Commodities than formerly they have done whereby we might say that our Trade is Quickned and Enlarged No verily it will produce no such good effect but rather according to the alteration of times by their true causes we may expect the contrary for all Men do consent that Plenty of Mony in a Kingdom doth make the Native Commodities dearer which as it is to the Profit of some Private Men in their Revenues so is it directly against the Benefit of the Publick in the Quantity of the Trade for as Plenty of Mony makes VVares dearer so dear VVares decline their Use and Consumption as hath been already plainly shewed in the last Chapter upon that particular of our Cloth And although this is a very hard Lesson for some great landed Men to learn yet I am sure it is a true Lesson for all the Land to observe lest when we have gained some store of Mony by Trade we loose it again by not Trading with our Mony I knew a Prince in Italy of Famous Memory Ferdinando the first Great Duke of Tuscany who being very rich in Treasure endeavoured therewith to enlarge his Trade by issuing out to his Merchants great Sums of Mony for very small Profit I my self had Forty thousand Crowns of him gratis for a whole Year although he knew that I would presently send it away in Specie for the Parts of Turky to be employed in VVares for his Countries he being well assured that in this Course of Trade it would return again according to the Old saying with a Duck in the Mouth This Noble and Industrious Prince by his Care and diligence to countenance and favour Merchants in their Affairs did so increase the Practice thereof that there is scarce a Nobleman or Gentleman in all his Dominions that doth not Merchandize either by himself or in Partnership with others whereby within these thirty Years the Trade to his Port of Leghorne is much increased that of a poor Little Town as I my self knew it it is now become a Fair and Strong City being one of the most Famous Places for all Christendom And yet it is worthy our Observation that the multitude of Ships and VVares which come thither from England the Low-Countries and other places have little or no means to make their returns from thence but only in ready Mony which they may and do carry away freely at all times to the incredible Advantage of the said great Duke of Tuscany and his Subjects who are much enriched by the continual great concourse of Merchants from all the States of the Neighbour Princes bringing them plenty of Mony daily to supply their wants of the said Wares And thus we see that the Current of Merchandize which carries away their Treasure becomes a flowing Stream to fill them again in a greater measure with Mony There is yet an Objection or two as weak as all the rest that is if we Trade with our Mony we shall issue out the less Wares as if a Man should say those Countries which heretofore had occasion to consume our Cloth Lead Iron Fish and the like shall now make use of our Monies in the place of those Necessaries which were most absurd to affirm or that the Merchant had not rather carry out Wares by which there is ever some gains expected than to Export Mony which is still but the same without any increase But on the contrary there are many Countries which may yield us very profitable Trade for our Mony which otherwise afford us no Trade at all because they have no use of our Wares as namely the East-Indies for one in the first beginning thereof although since by industry in our Commerce with those Nations we have brought them into the use of much of our Lead Cloth Tin and other things which is a good Addition to the former Vent of our Commodities Again some Men have alleged that those Countries which permit Mony to be carried out do it because they have few or no VVares to Trade withal but we have great store of Commodities and therefore their Action ought not to be our Example To this the Answer is briefly that we have such a quantity of VVares as doth fully provide us of all things needful from beyond the Seas why should we then doubt that out Monies sent out in Trade must not necessarily come back again in Treasure together with the great Gains which it may procure in such manner as is before set down And on the other side if those Nations which send out their Monies do it because they have but few VVares of their own how come they then to have so much Treasure as we ever see in those Places which suffer it freely to be Exported at all times and by whomsoever I answer Even by Trading with their Monies for by what other means can they get it having no Mines of Gold or Silver
here at higher Rates than their Value with our Standard will not encrease our Treasure Merchants do or ought to know the Weight and Fineness of Forein Coins THE discreet Merchant for the better directing of his Trade and his Exchanges by Bills to and from the several Places of the World where he is accustomed to deal doth carefully learn the Parity or equal Value of the Monies according to their Weight and Fineness compared with our Standard whereby he is able to know perfectly the just Profit or Loss of his Affairs And I make no doubt but that we Trade to divers places where we vent off our Native Commodities yearly to a great Value and yet find few or no Wares there fitting our use whereby we are enforced to make our returns in ready Mony which by us is either carried into some other Countries to be converted into Wares which we want or else it is brought into the Realm in Specie which being tolerated to pass currant here in Payment at higher rates than they are worth to be Coined into Sterling Mony that seemeth very probable that the greater Quantity will be brought in but when all the Circumstances are duly considered this Course likewise will be found as weak as the rest to increase our Treasure First the Toleration itself doth break the Laws of entercourse and would soon move other Princes to perform the same acts or worse against us And so frustrate our hopes Secondly If Mony be the true Measure of all other means and Forein Coins tolerated to pass current amongst us at higher rates than they are worth being compared with our Standard it followeth that the Common-wealth shall not be justly distributed when that passeth by a false Measure Thirdly If the Advantage between ours and Forein Coins be but small that will bring in little or no Treasure because the Merchant will rather bring in Wares upon which there is usually a competent Gain And on the other side if we permit a great Advantage to the Forein Coins then that Gain will carry away all our Sterling Mony and so I leave this Business in a Dilemma and fruitless as all other courses will ever prove which seek for the Gain or Loss of our Treasure out of the Ballance of our general Forein Trade as I will endeavour yet further to demonstrate CHAP. V. The Observation of the Statute of Imployments to be made by Strangers cannot Increase nor yet Preserve our Treasure TO keep our mony in the Kingdom is a Work of no less Skill and Difficulty than to augment our Treasure For the Causes of their Preservation and Production are the same in Nature The Statute for Employment of Stranger 's Wares into our Commodities seemeth at first to be a good and a Lawful way leading to those ends but upon the Examination of the Particulars we shall find that it cannot produce such good Effects The Vse of Forein Trade is alike to all Nations For as the Use of Forein Trade is alike unto all Nations so may we easily perceive what will be done therein by Strangers when we do but observe our own proceedings in this weighty Business by which we do not only seek with the vent of our own Commodities to supply our wants of Forein Wares but also to enrich our selves with Treasure All which is done by a different manner of Trading according to our own Occasions and the nature of the Places whereunto we do Trade as namely in some Countries we sell our Commodities and bring away their Wares or part in Mony in other Countries we sell our Goods and take their Mony because they have little or no Wares that fit our turns Again in some Places we have need of their Commodities but they have little use of ours so they take our Mony which we get in other Countries And thus by a course of Traffick which changeth according to the Accurents of time the particular Members do accommodate each other and all accomplish the whole Body of the Trade How Forein Trade is destroyed which will ever languish if the Harmony of her health be distempered by the Diseases of Excess at home Violence abroad Charges and Restrictions at home or abroad but in this Place I have occasion to speak only of Restriction which I will perform briefly There are three ways by which a Merchant make the returns of his Wares from beyond the Seas that is to say in Mony in Commodities or by Exchange But the Statute of Employment doth not only restrain Mony in which there is a seeming Providence and Justice but also the Use of the Exchange by Bills which doth violate the Law of Commerce and is indeed an Act without Example in any place of the World where we have Trade and therefore to be considered that whatsoever in this kind we shall impose upon Strangers here will presently be made a Law for us in their Countries especially where we have our greatest Trade with our vigilant Neighbours who omit no care nor occasion to support their Traffick in equal Privileges with other Nations And thus in the first place we should be deprived of that Freedom and Means which now we have to bring Treasure into the Kingdom and therewith likewise we should lose the Vent of much Wares which we carry to divers places whereby our Trade and our Treasure would decay together Secondly If by the said Statute we thrust the Exportation of our Wares more than ordinary upon the Stranger we must then take it from the English which were injurious to our Merchants Mariners and Shipping besides the hurt to the Common-wealth in venting the Kingdom 's Stock to the Stranger at far lower rates here than we must do if we sold it to them in their own Countries as is proved in the third Chapter Thirdly Whereas we have already sufficiently shewed that if our Commodities be over-ballanced in value by Forein Wares our Mony must be carried out How is it possible to prevent this by tying the Stranger 's hands and leaving the English loose Shall not the same Reasons and Advantage cause that to be done by them now that was done by the other before Or if we make a Statute without example to prevent both alike shall we not then overthrow all at once The King in his Cuostms and the Kingdom in her Profits for such a Restriction must of necessity destroy much Trade because the diversity of Occasions and Places which make an ample Trade require that some Men should both Export and Import Wares some Export only others Import some deliver our their Monies by Exchange others take it up some carry out Mony others bring it in and this in a greater or lesser Quantity according to the good Husbandry or Excess in the Kingdom over which only if we keep a strict Law it will rule all the rest and without this all other Statutes are no Rules either to keep or procure us Treasure Lastly To
leave no Objection unanswered if it should be said that a Statute comprehending the English as well as the Stranger must needs keep our Mony in the Kingdom What shall we get by this if it hinder the coming in of Mony by the decay of that ample Trade which we enjoyed in the Freedom thereof Is not the Remedy far worse than the Disease Shall we not live more like Irishmen than Englishmen when the King's Revenues our Merchants Mariners Shipping Arts Lands Riches and all decay together with our Trade Yea but say some Men we have better hopes than so for the Intent of the Statute is that as all the Forein Wares which are brought in shall be employed in our Commodities thereby to keep our Mony in the Kingdom So we doubt not but to send out a sufficient Quantity of our own Wares over and above to bring in the Value thereof in ready Mony Although this is absolutely denied by the Reasons afore-written yet now we will grant it because we desire to end the Dispute For if this be true that other Natitions vent more of our Commodites than we consume of theirs in value then I affirm that the over-plus must necessarily return unto us in Treasure without the Use of the Statute which is therefore not only fruitless but hurtful as some other like restrictions are found to be when they are fully discovered CHAP. XI It will not increase our Treasure to enjoyn the Merchant that exporteth Fish Corn or Munition to return all or part of the Value in Mony VIctuals and Munition for War are so precious in a Common-Wealth that either it seemeth necessary to restrain the Exportation altogether or if the Plenty permits it to require the return thereof in so much Treasure which appeareth to be reasonable and without difficulty because Spain and other Countries do willingly part with their Mony for such Wares although in other occasions of Trade they straightly prohibit the Exportation thereof All which I grant to be true yet notwithstanding we must consider that all the Ways and Means which in course of Trade force Treasure into the Kingdom do not therefore make it ours for this can be done only by a Lawful Gain and this Gain is no way to be accomplished but by the Over-ballance of our Trade and this Over-ballance is made less by restrictions Some restrictions hinder Trade Therefore such Restrictions do hinder the Increase of our Treasure The Argument is plain and needs no other Reasons to strengthen it except any Man be so vain to think that Restrictions would not cause the less Wares to be exported But if this likewise should be granted yet to enjoyn the Merchant to bring in Mony for Victuals and Munition carried out will not cause us to have one Peny the more in the Kingdom at the Years end For whatsoever is forced in one way must out again in another way because only so much will remain and abide with us as is Gained and Incorporated into the Estate of the Kingdom by the Over-ballance of the Trade This may be made plain by an example taken from an Englishman who had occasion to buy and consume the Wares of divers of Strangers for the Value of one thousand Pounds he sold them to the said Strangers and presently forced all the Mony from them there remained only four hundred Pounds to the said Englishman for Over-ballance of the Wares bought and sold so the rest which he had received was returned back from whence he forced it And this shall suffice to shew that whatsoever courses we take to force Mony into the Kingdom yet so much only will remain with us as we shall gain by the Ballance of our Trade CHAP. XII The Vndervaluing of our Mony which is delivered or received by Bills of Exchange here or beyond the Seas cannot decrease our Treasure THE Merchants Exchange by Bills is a Means and Practice whereby they that have Mony in one Country may deliver the same to receive that again in another Country at certain Times and Rates agreed upon whereby the Lender and the Borrower are accommodated without transporting of Treasure from State to State These Exchanges thus made between Man and Man are not contracted at the equal value of the Monies according to their respective Weights and Fineness First because he that delivereth his Mony doth respect the Venture of the Debt and the time of Forbearance but that which causeth an under or over-valuing of Monies by Exchange is the Plenty or Scarcity thereof in those Places where the Exchanges are made For Example when here is plenty of Mony to be delivered for Amsterdam then shall our Mony be under-valued in Exchange because they who take up the Mony seeing it so plentifully thrust upon them do thereby make advantage to themselves in taking the same at an undervalue And contrarywise when here is Scarcity of Mony to be delivered for Amsterdam the Deliverer will make the same Advantage by over-valuing our Mony which he delivereth Plenty of Mony makes the Exchange cheap and all other things dear And thus we see that as Plenty or Scarcity of Mony in a Common-wealth doth make all Good things Dear or Cheap so in the Course of Exchange it hath ever a contrary Working wherefore in the next Place it is fit to set down the true Causes of this Effect As Plenty or Scarcity of Mony do make the Price of the Exchange high or low so the Over or Under-ballance of our Trade doth effectually cause the Plenty or Scarcity of Mony And here we must understand that the Ballance of our Trade is either General or Particular The General is when all our yearly Traffick is jointly valued as I have formerly shewed the Particular is when our Trade to Italy France Turky Spain and other Countries are severally considered and by this latter Course we shall perfectly find out the Places where our Mony is under or over-valued in Exchange For although our general Exportations of Wares may be yearly more in value than that which is Imported whereby the difference is made good to us in so much Treasure nevertheless the Particular Trades do work diversly For peradventure the Low-Countries may bring us more in value than we sell them which if it be so then do the Low-Country Merchants not only carry away our Treasure to ballance the Accompt between us but also by this means Mony being plentiful here to be delivered by Exchange What kinds of Plenty or Scarcity of Mony make the Exchange high or low it is therefore undervalued by the Takers as I have before declared and contrary wise if we carry more Wares to Spain and other Places than we consume of theirs then do we bring away their Treasure and likewise in the Merchant's Exchange we over-value our own Mony Yet still there are some who will seem to make this Plain by Demonstration that the Under-valuing of our Mony by Exchange doth carry it out
and of the meer Exchanger with their true Causes and Effects Nevertheless it will not be impertinent to pursue this Business yet a little further and thereby not only to strengthen our former Arguments but also to avoid some cunning Delusions which might deceive the Unskilful Reader of those Books entituled Lex Mercatoria Pag. 409. and The Maintenance of Free Trade p. 16. wherein the Author Gerard Malines letteth down the admirable Feats as he termeth them which are to be done by Bankers and Exchangers with the Use and Power of the Exchange But how these Wonders may be effected he altogether omitteth leaving the Reader in a strange Opinion of these dark Mysteries which I cannot think he did for want of Knowledge for I find him Skilful in many things which he hath both Written and Collected concerning the Affairs of Merchants and in Particular he Discourses well of divers Uses Forms and Passages of the Exchange in all which as he hath taken great pains for the Good of others so do his Works of this kind deserve much Praise But where he hath disguised his own Knowledge with Sophistry to further some private ends by hurting the Publick Good there ought he to be discovered and prevented unto which performance in this Discourse of Treasure I find my self obliged and therefore I intend to effect it by shewing the true Causes and Means whereby these Wonders are done which Malines attributeth to the sole Power of the Exchange But first for Order I think it fit to set down the Particular Feats as they stand in his said Books The admirable Feats to be done by Exchange 1. To lay their Mony with Gain in any place of the World where any Exchange lyeth 2. To gain and wax Rich and never meddle with any Prince's Commodities 3. To buy any Prince's Commodity and never bring Peny nor Peny-worth into the Realm but do that with the Subject's Mony 4. To grow Rich and live without Adventure at Sea or Travel 5. To do great Feats having credit and yet to be nought worth 6. To understand whether in conjecture their Mony employed on Exchange or buying of Wares will be more Profit 7. To know certainly what the Merchants gain upon their Wares they Sell and Buy 8. To Live and Increase upon every Prince's Subjects that continually take up Mony by Exchange and whether they Gain or no. 9. To wind out every Prince's Treasure out of his Realm ☜ whose Subjects bring in more Wares than they carry out of the Realm 10. To make the Staple of Mony run thither where the rich Prince will have it to be brought and pay for it 11. To unfurnish the Poor Prince of his provision of Mony that keeps his Wares upon Interest-Mony if the Enemy will seek it 12. To furnish their need of Mony that tarry the Selling of their Wares in any Contract until they make them come to their Price 13. To take up Mony to engross any Commodity either new come or whereof they have some store to bring the whole Trade of that Commodity into their own hands to sell both at their Pleasure 14. To hide their carrying away of any Prince's Mony 15. To fetch away any Prince's fine Mony with his own or any other Prince's base Mony 16. To take up Princes base Mony and to turn into his fine Mony and to pay the Deliverer with his own and gain too 17. To take upon credit into their hands for a time all the Merchant's Mony that will be delivered and pay them with their own and gain too 18. To make the Realm gain of all other Realms whose Subjects live most by their own Commodities and sell yearly the Overplus into the World and both Occupy that increase yearly and also their old store of Treasure upon Exchange 19. To undo Realms and Princes that look not to their Common-wealth when the Merchant's Wealth is such that the Great Houses conspire together so to rule the Exchange that when they will be Deliverers they will receive in another Place above the Standard of the Mint of the Prince's Mony delivered And when they will be takers they will pay the same in another Place under the Standard of the Mint of the Prince's Mony taken up 20. To get ready Mony to buy any Commodity that is offered cheap 21. To compass ready Mony to get any ossered Bargain out of another Man's hands and so by out-bidding others oftentimes to raise the Wares 22. To get a Part and sometimes all his Gains that employeth Mony taken up by Exchange in Wares and so make others Travel for their Gain 23. To keep Princes for having any Customs Subsidies or Taxes upon their Mony as they employ it not 24. To value justly any Wares they carry into any Country by setting them at that Value as the Mony that bought them was then at by Exchange in the Country whither they be carried If I had a Desire to amplifie in the Explanation of these VVonders they would afford me Matter enough to make a large Volume but my intent is to do it as briefly as possibly I may without obscurity And before I begin I cannot choose but Laugh to think how a worthy Lawyer might be dejected in his laudable Studies when he should see more cunning in Lex Mercatoria by a little Part of the Merchant's Profession than in all the Law-Cases of his Learned Authors For this Exchange goes beyond Conjuring I think verily that neither Doctor Faustus nor Banks his Horse could ever do such admirable Feats although it is sure they had a Devil to help them but we Merchants deal not with such Spirits we delight not to be thought the VVorkers of Lying VVonders and therefore I endeavour here to shew the Plainness of our Dealing in these supposed Feats to be agreeable to the Laudable Course of Trade And first To lay our Mony with gain to any place of the World where Exchange lieth How can this be done will some Men say for Amsterdam when the Loss by Exchange is sometimes Eight or Ten per Cent. more or less for one Month's usance The answer is That here I must consider The Principal efficient cause of Loss by Exchange First that the Principal efficient Cause of this Loss is a greater Value in VVares brought from Amsterdam than we carry thither which make more Deliverers than Takers here by Exchange whereby the Mony is undervalued to the Benefit of the Taker Hereupon the Deliverer rather than he will lose by his Mony doth consider those Countries unto which we carry more VVares in value than we receive from them as namely Spain Italy and others to which Places he is sure for the Reasons aforesaid that he shall ever deliver his Mony with Profit But now you will say that the Mony is further from Amsterdam than before How shall it be got together Yes well enough and the farther about will prove the nearest VVay home if it come at last
either amongst our selves or with Strangers if amongst our selves the Common-wealth cannot be enriched thereby for the Gain of one Subject is the Loss of another And if we Exchange with Strangers then our Profit is the Gain of the Common wealth Yet by none of these ways can the King receive any Benefit in his Customs Let us therefore seek out the Places where such Exchanging is used and set down the Reasons why this Practice is permitted in search whereof we shall only find one Place of note in all Christendom which is Genoua whereof I intend to say something as briefly as I can The present State of the Common-Wealth of Genoua The State of Genoua is small and not very Fertile having little Natural Wealth or Materials to employ the People nor yet Victuals sufficient to feed them but nevertheless by their Industry in former times by Forein Trade into Aegypt Soria Constantinople and all those Levant Parts for Spices Drugs Raw Silks and many other Rich Wares with which they served the most Places of Europe they grew to an incredible Wealth which gave life unto the Strength of their Cities the Pomp of their Buildings and other singular Beauties But after the Foundation and Increase of that Famous City of Venice the said Trades turned that way And since likewise the greatest Part thereof doth come into England Spain and the Low-Countries by Navigation directly from the East-Indies which alterations in the Traffick hath forced them of Genoua to change their course of Trading with Wares into Exchanging of their Mony which for Gain they spread not only into divers Countries where the Trade is performed with Merchandize but more especially they do therewith serve the want of the Spaniards in Flanders and other Places for their Wars whereby the Private Merchants are much Enriched but the Publick Treasure by this Course is not increased and the Reasons why the Common-wealth of Genoua doth suffer this Inconvenience are these First and Privcipally they are forced to leave those Trades which they cannot keep from other Nations who have better means by Situation Wares Shipping Munition and the like to perform these Affairs with more advantage than they are able to do Secondly They proceed like a wife State who still retain as much Trade as they can although they are not able to procure the Twentieth Part of that which they had For having few or no Materials of their own to employ their People yet they supply this want by the Fleece-wools of Spain and Raw Silks of Sicilia working them into Velvets Damasks Sattens Wollen-drapery and other Manufactures Thirdly Whereas they find no means in their own Country to employ and Trade their great Wealth to Profit they content themselves to do it in Spain and other places either in Merchandize or by Exchanging their Monies for gain to those Merchants who trade therewith in Wares And thus wheresoever they live abroad for a Time circulting the World for Gain yet in the end the Centre of this Profit is in their own Native Country Lastly The Government of Genoua being Aristocracy they are assured that although the Publick get little yet if their Private Merchants gain much from Strangers they shall do well enough because the Richest and Securest Treasure of a Free State are the riches of the Nobility who in Genoua are Merchants which falleth not out so in a Monarchy where between the comings in of a Prince and the means of Private Men there is this Distinction of Meum Tuum but in the Occasions and Dangers of a Republick or Common-wealth where Liberty and Government might be changed into Servitude there the Proper substance of private Men is the publick Treasure ready to be spent with their lives in defence of their own Sovereignty To the Twenty Fourth If a Merchant should buy VVares here with intentions to send them for Venice and then value them as the Exchange comes from thence to London he may find himself far wide of his reckoning For before his Goods arrive at Venice both the Price of his VVares and the Rate of the Exchange may alter very much But if the meaning of the Author be that this Valuation may be made after the Goods arrive and are sold at Venice and the Mony remitted hither by Exchange or else the Mony which bought the said VVares here may be valued as the Exchange passed at that time from hence to Venice Is not all this very common and easie Business unworthy to be put into the Number of Admirable Feats To the Tenth Although a rich Prince hath great Power yet is there not Power in every rich Prince to make the Staple of Mony run where he pleaseth For the Staple of any thing is not where it may be had but where the thing doth most of all abound VVhereupon we commonly say that the Spaniard in regard of his great Treasure in the West Indies hath the Fountain or Staple of Mony which he moveth and causeth to run into Italy Germany and the Low Countries or other Places where his occasions do require it either for Peace or War Neither is this effected by any singular Power of the Exchange but by divers Ways and Means fitting those Places where the Mony is to be employed For if the Use thereof be upon the Confines of France to maintain a War there then may it be safely sent in Specie on Carriages by Land if in Italy on Gallies by Sea if in the Low-Countries on Shipping by Sea also but yet with more danger in regard of his Potent Enemies in that Passage Wherefore in this Occasion although the Exchange is not absolutely necessary yet is it very useful And because the Spaniards want of Gommodities from Germany and the Low-Countries is greater in value than the Spanish Wares which are carried into those Parts therefore the King of Spain cannot be furnished there from his own Subjects with Mony by Exchange but is and hath been a long time enforc'd to carry a great Part of his Treasure in Gallies for Italy How the Italians are enabled to furnish Spain with Mony in Flanders where the Italians and amongst them the Merchants of Genoua especially do take the same and repay the Value thereof in Flanders whereunto they are enabled by their Trade with many rich Commodities which they send continually out of Italy into those Countries and the Places thereabouts from whence the Italians return no great value in Wares but deliver their Mony for the Service of Spain and receive the Value by Exchange in Italy out of the Spanish Treasure which is brought thither in Gallies as is afore-written So that by this we plainly see that it is not the Power of Exchange that doth enforce Treasure where the rich Prince will have it but it is the Mony proceeding of Wares in Forein Trade that doth enforce the Exchange and rules the Price thereof high or low according to the Plenty or Scarcity of the
into great and small pieces and into several and distinct parts and denominations was stamped and coined with several characters to denote thereby the true weight and value of the same the which was first done by Servius in Rome of Brass whereon was imprinted the Image of Sheep and Oxen betokening the wealth and riches of those days as Moneys do now with us and because that ten of those pieces was then called a Denier therefore it is that universally all such Moneys are still called by the Latines Denarii this being then the original of Moneys which afterward came to be coined both of Silver and Gold as I shall more at large have occasion to demonstrate in the Chapter of Moneys in this following Treatise Bargaining This first sort of Merchandizing or Commerce then as I said before termed Bartering or Trucking of one Commodity for another begat consequently by the means of Moneys the second manner of Negotiation which is buying and selling or bargaining for all Merchants that would transport Commodities from one Country or place to another to effect the same needed either other Commodities wherewith to barter and so to procure them or Money and so to buy them and therefore to facilitate Merchandizing and to take away the incommodity and danger of the carriage of Moneys about a man or from place to place a mean was invented to have the same in what Country a man pleased without trouble or danger of the transport carriages or rigor thereof Exchanging and this was found to be best performed by Exchange which is the third sort of Commutation the which is noted to be no other than the giving of so much Moneys in one place to one who should cause it to be again repaid in another place by another for him as for example Edward hath here in London one thousand pounds and desireth to remit the same or have it in the hands of Joseph who resideth in Venice and Lodowick hath one thousand pounds in Venice in the custody and hands of Thomas which he would get receive and recover out and have them here it happeneth that Edward meeteth with Lodowick to whom he delivereth and payeth the said one thousand pounds and thereupon Lodowick writeth to Thomas that he pay the said thousand pounds to Joseph and thus each party comes to be both satisfied and accommodated by which it may be discerned that in all Exchanges there is concluded two payments two places and four distinct persons as he who payeth in the one place and he who receiveth in the other and he who receiveth in the one place and he who payeth in the other and from hence it consequently followeth that no man can remit except there be another to draw nor no man can in the second place receive except there be another authorized to pay Exchanges drawn into a profitable Art and the reasons thereof In this manner then came in use the original of Exchanges purposely invented to accommodate Trade and Commerce the which at first was practised without either benefit or loss or any other consideration and to render again the self-same sum and parcel as was received but other consideration and to render again the self-same sum and parcel as was received but in process of time it came to be considered that the giver or deliverer of the Money came both to lose a certain space in time ere the same was repaid and did also run a certrin risgo in the payment thereof which the receiver or drawer enjoyed and profited by and therefore it was held reasonable that the deliverer should have some fruit and benefit in requital and satisfaction thereof which afterward occasioned that the second payment came to be somewhat greater than the former and that in consideration thereof there should be restored more than was received The endeavour of this gain then hath converted Exchanges since into an Art or Mystery from whence it proceedeth that many are found at this day to remit and deliver Moneys to the intent to have the same returned with benefit and not for a need or necessity to have it more in one place than in another and many again are found to be takers and drawers not with intent to withdraw or recover their Money from another person or place but to serve themselves and their occasions with that of others for a certain time paying and allowing for the same that consideration and interest as is agreed upon and covenanted between them which really and in effect is nothing else but a certain kind of permitted Usury and therefore by some accounted as a thing unlawful though by many and by the common and received practice of the World it is upheld and maintained with many solid reasons and substantial arguments besides which it is considerable and peradventure it may well be granted that if it were not that there is by this Art and Mystery a gain and profit made thereof very few Exchanges would present because that draughts and remittances would in this nature but seldom happen that would or might any way be available to Traffick and Commerce and less benefit would consequently redound to the publick and universal Commerce of Kingdoms and therefore though the intention of particular Exchanges be not always found good herein yet the general good effect which it produceth and that proceedeth therefrom is in it self and in the true use and custom thereof both approved and laudable Things considerable in Bartering Now in the first sort of Commutation which I term Bartering many things do happen considerable and necessary in the Art of Merchandizing the first is the knowledge as well in the Commodity thus to be delivered as in the Commodity so to be received next a knowledge in respect of the value and present request and estimation of both then in respect of the quality whether it be lasting and durable or impairing or perishable and lastly in respect of the property whether it be of it self natural and growing or Artificial and made by the hand and industry of man and lastly in respect of the quantity whether plentiful in abundance or scarce and in few hands Things considerable in Bargaining In the second sort of Commutation which I term Bargaining or buying and selling are likewise besides the abovementioned these particulars to be well known and considered first a knowledge how the Commodity is either bought or sold as either by weight as are ponderous Commodities or as by Concave or long measures as are Commodities of length or Commodities solid or liquid the knowledge of which weights and measures is in like manner perfectly to be known and really to be understood and then the fineness goodness and current valuation of the Money of the place is also to be known and perfectly and rightly to be found out and be distinguished that the bargain may appear to be made the more justly equally and conscionably between both parties and for
squared out proportionably and every Street is drawn out to a line so that every Gate yields a free prospect through the City to the opposite Gate beautified on each side with stately Edifices and Houses for the Honourable of this Country In the midst of this City is a sumptuous Palace wherein the Grand Cham resideth with all his Queens and Children and wherein is placed a Bell which is tolled at certain hours of the Evening after which may no man stir out of doors until the beginning of the day following the largeness rarities curiosity and richness of this Palace the partitions allowed his Queens and Lodgings appointed for his Children and their daily Attendants and the Order Beauty and Manner thereof I willingly omit as not pertinent to my present purpose Without this City Walls are accounted 12 Suburbs of 3 or 4 miles long adjoyning to each of the aforesaid 12 Gates and here all Merchants Strangers and Foreigners do abide each Nation having a several Cane or Store-house where they both lodge and exercise their Merchandize and traffick one with another for the Commodities of these several Countreys The confluence of Merchants here cannot choose but be wonderful seeing it is reported that the City is so populous that the Cham maintaineth 5000 Astrologers here daily besides many thousands of Souldiers both of Horse and Foot that 12000 Horse is accounted but as his ordinary and daily Guard Exendu and the largeness thereof besides which the near neighbourhood of Exendu the principal place of the Grand Cham seated not many days Journey hence where Merchants are not permitted to enter is built in a four square figure every side extending eight miles in length within this Quadrant is another whose sides are six miles long and within that another of four miles square which is accounted the very Palace it self and between which several walls are found Walks Gardens Orchards Fish-ponds places for all manner of Courtly and Military Exercises and also Parks Forests and Chases for all manner of Pleasures and Game and the infinite number of Attendants and Servitours that of necessity is required to wait upon so great a Prince with the Officers thereto belonging cannot but much increase the Trade and Commerce of this City and place As for the Trade of this City of Cambalu and generally of all Tartaria it is observed that the Countrey though in a large Tract extending it self upon the North Ocean yet by reason of the long continued colds and frosts the Inhabitants have but little benefit thereof however it may be conceived that the Molucco's Japans and other Islanders thereabout in the season of the year have here a great Traffick and that hence these Tartarians are furnished with the Spices of India the Gems of Pegu and Bengala and peradventure with other the Drugs of Arabiaâ— but upon the Caspian Sea they are the Masters of many good Sea-Ports besides Astracan which of late they have lost to the Muscovite as Zahaspa Cosmi Melmesuach and others by which is conveyed to them the Silks Tapestries Carpets Arms and excellent Manufactures of Persia and in the Black-Sea besides Capha now in subjection to the Turks they enjoy the brave Ports of Curaropo Asow and others serving to convey unto them the Commodities of Turkey Trabesond Podolia Walacia and other Countreys bordering upon the famous River of Danubius Now for the other parts of this large Empire it bordereth on the one side with Muscovia with whom it is now in peace though not seldom at debate from whence by the benefit of Traffick which I find observed not to be of any great consequence they have rich Furs and other the Commodities of this Country But where it bordereth upon China which is for a very large extent of ground by some Author accounted 400 leagues the common report of the strict Laws and Customs of that Nation to debar entrance to all Strangers should perswade me of little Traffick that way yet I find it observed by some late Travellers whose Relation herein is questionable That the City of Cambalu receiveth yearly thence by way of Traffick 10000 Carts laden with Silks and Stuffs of the China Fabrick the truth thereof I refer to the censure of the Reader Coins current in Cambalu and through Tartaria of the bark of Mulberry-trees As for the Moneys current in this large Territory I find it to be diversly made yet neither of Gold nor of Silver coined but of the middle Bark of the Mulbery Tree which being made firm and cut into divers and round pieces great and little they imprint the King's mark thereupon and from this mean Stuff the Emperour causeth a huge mass of Moneys to be yearly made at Cambalu which sufficeth for his whole Empire and no Man under pain of death may coin or spend any other Money or refuse it in all his Kingdoms and Dominions whereby it cometh to pass That Merchants often coming hither from far and remote Countreys bring with them Gold Silver Pearl and pretious Stones and receive the King's Money for them and because the same is not current in their Country they therewith buy in this Empire other the Commodities here found which they carry hence away with them the King also payeth his stipends Officers and Armies with the said Moneys and buyeth whasoever else he needeth with the same so that no Prince in the World can exceed him in Treasure which is at so easie a rate provided and procured Of Coral polished Besides which I find it observed in some parts of this large Country subject to some subordinate Kings in subjection to the Great Cham that they use in some places pieces of polisht Coral in stead of Money and in others they have certain twigs of Gold in lieu of Money which is distinguished by weight into several parcels without stamp or character and this is accounted in matters of consequence Of Salt in Loaves hardned but they have a lesser Coin if I may so term it made of Salt which they boil in Caldrons for a certain time which congealed they make into lumps like our Peny-loaves which being made solid is signed with the Prince's Stamp and passeth thus current amongst them and wherewith they provide themselves of all necessaries In some others I find also that they use Porcelan for Money and weighed pieces of Gold for in some Countreys of this Empire Silver Mines are not found and they give in proportion one ounce of Gold for five ounces of Silver neither is it found in many places of this Country that they have the use of Letters therefore the Merchants make their Contracts and Obligations in Tallies of Wood the half whereof the one keepeth and the other the other half which being aftetwards paid and satisfied the said Tally is restored not much unlike the custom of Tallies in England And thus much shall serve to have said of the Trade in general of this Country the strange Customs
as I said before which they accounted as their greatest treasures and with which their barters and exchanges for things necessary were made but now of late the Kings of Achin in imitation of other adjoyning Princes and so the near neighbourhood of Malacca now in possession of the Portugals have coined moneys which in these days are observed to be these A Mass which is here accounted for 4 Cappans which is 12 d. sterling A Tail is 16 Masses or 3â…• â„ž â— â— or sterling money 16 s. A Cattee is 8 Tails in ordinary account and worth 25â…” â„ž â— Spanish or 6 l. 8 s. sterling and sometimes in exchange from hence to other adjacent parts they account 7¼ and 7½ Tails to one Cattee Accounts kept in Java In other parts of this Island as Jambe Ticho and Priaman they have no Coins of their own but the most current is the Spanish â„ž â— in which the Europeans keep their accounts and for distinction divide it to be 60 Deniers or Pence to a â„ž â— Weights of Summatra Achin Priaman Jambe The common through all Summatra is a Bahar but yet found to vary in many places and consisteth of Cattees which in greatness also vary and from thence cometh the difference but in Achin Priamam Ticcou and Jambe where the English reside the Bahar is found to be in each of these places 200 Cattees every Cattee is 29 ounces English so that by this computation the Bahar must make 360 l. English sotile Measures in Summatra The measures here in use are CHAP. CVI. Of Borneo Island and the Trade thereof Borneo Island and the trade thereof THe next Island in this Tract is Borneo and is equally divided by the Aequinoctial into two parts putting as it were a bound between the Dominions of the King of Borneo on the North-side and of Laus on the South in compass accounted above 2200 miles and held the greatest of all this Ocean Commodities of Borneo Island The Country doth yield in great abundance the wood which we call Camphora also that wood known by the Portugals by the name of Polo d' Aguila and also that costly sweat wood which is called Collamba which being good is weighed against Silver and Gold also here is found some Gold Diamonds Nutmegs Maces Agarick and other Spices and great abundance of that excellent Antidote which in Europe is called the Bezoar-stone Towns of Borneo Island It is plentifully stored with many fair Towns and Harbours as Cabura Taioparra Tamorutas and Borneo the Metropolis and most magnificent above all the rest containing 25 thousand Inhabitants and seated in a Marish of the Sea after the manner of Venice Secodana and Benicrmasa English Factories in Borneo Also Secodana where many Diamonds are found and where the English some years past had a factory and residence as also the same in Beniermasa another good Port in this Island I have not met with the Coins current here in payment for Merchandize nor yet with the Weights and Measures in use in this Island therefore must refer the same to the better experienced and to the Traders thither CHAP. CVII Of Celebs Island and the Trade thereof Island Celebs and the Trade thereof THE Island of Celebs is the next in this Tract nor far distant from Borneo Island through part of which runneth the Equator yielding by the vicinity of the Sun the same Commodities proper to Summatra Borneo Gilolo and others seated under the same line it is subject to several Princes and enjoyeth some eminent Towns frequented by European Merchants for the sake of their rich Commodities as Durati Mamaio Tubon and Maccasar the English Factory in Celebs Maccasar the chiefest Port for the Trade and Commerce of this Island and where the English have a residence and factory and following their observations made in this place I find Coins current in Celebs and Maccasar Their Coins current here in use are found to be the Mass Cupan and Tail thus valued A Tail is accounted for 16 Masses in current value and is reckoned to be worth 15 Rials of Eight A Mass is a Gold Coin as is the Tail and wants somewhat of 5 s. or a Rial of â— 8 Spanish And this Mass is 4 Cuppans each Cuppan esteemed to be about 14 d. sterling money and by this calculation the Tail should make sterling 3 l. 14 s. 8 d. and by the account of â„ž â— 8 at 5 s. sterling the Tail is 3 l. 15 s. sterling Weights in Celebs and Maccasar The common weights in use are the Ganton Zicoyan and Mass thus agreeing with the English weight Averdupois The Ganton is both a weight and measure in weight it is found to be about 5 l. English and in measure about two English Gallons A Mass in weight is 40 Gantons which is 200 l. English or 80 Gallons English A Zicoyan is 20 Masses in weight which is 4000 l. English or 800 Cantons of this place To proceed to the rest of the Islands in these Seas is a work past my skill or I think most mens else considering the multitude thereof Philippiâ—… the Philippines being discovered by the Spaniards in Anno 1564 being in number 110 thousand as some Authors report Over against China are also found 7448 Islands and about India 127000 great and small more which in many places stand so nigh one to another that they seem not only to such as are afar off to touch and to be all one firm land but whosoever passeth between them may with his hands touch the boughs of the Trees both on the one and on the other side Many Commodities are found growing upon these Islands with which the Inhabitants of many of them maintain a Traffick with their Neighbours the knowledge whereof I leave to the better experienced The Portugals the first Masters of the Trade of East-India 1498. Now forasmuch as Portugals Dutch and English have of late years discovered those Countries of India and that some of them have since settled themselves by Forts and Castles there It will not be improper I should here survey their strengths and holds built for defence and their Factory settled for Traffick throughout this Continent of Asia and the Islands thereof The Portugals then were the first that brake the Ice and in Anno 1498. departing from Lisbon under Command of Vasco di Gamma doubled the Cape of Bona Esperance which hath proved so successful to them since that time that they have mastered conquered and fortified themselves beyond that Cape in Soffala Quiloa Mosambique Mombasa and in Ormus in the Persian Gulph lately again lost In India they have the Castles and Towns of Diu Daman Basain Châ—… Goa Honor Barsola Mongalor Cananor Cronganor Cochin and Colan In Silon they have Collumbe bragging of one of the best Ports of the World on the Coast of Chormandel they hold Negapatam and St. Thomas In Bengala they have Porto Pequenio
great Nations but my Ignorance herein doth silence me Therefore it shall content me to have surveyed it in the general and to have left behind me what Observations I have been able to collect of the Traffick and Traders of those vast and large Territories and Countries knowing that their strange Customs and the manner of their Laws and Government debar all easie access into their Dominions and what others must not dare to see I must not dare to offer to recount To conclude then having thus run over and surveyed the general Commerce and Traffick of ASIA I will now turn my self towards EUROPE the last division of the World and of this Work and as the best known to us and the best reputed of us OF EUROPE AND THE Provinces and Cities of Trade THEREOF CHAP. CX Of EUROPE the last Division of the World here handled and the Kingdoms thereof Europe 15 parts EUROPE which I have willingly omitted as last and principal cometh now to be surveyed that the Trade thereof may the better appear in her particular Provinces and Cities should be in prerogative of worth the chief and first but following the custom of Merchants I shew the best last and the worst first Europe then is divided into these Provinces and Islands 1 Spain 2 France 3 Italy 4 Belgia 5 Germany 6 Denmark 7 Norway 8 Sweden 9 Muscovia 10 Poland 11 Hungary 12 Dacia 13 Slavonia 14 Graecia The Islands of Europe are dispersed through these Seas 1 Greek Seas 2 Egean Seas 3 Cretan Seas 4 Ionian Seas 5 Adriatick Seas 6 Mediterranean Seas 7 British Seas 8 Northern Seas Of all which in order and of each of these Divisions in order CHAP. CXI Of SPAIN and the Cities thereof Spain SPAIN the most Western Continent of Europe is invironed on all sides with the Seas except towards France from which it is separated by the Pyrenaean Mountains and the Fortress of Pampelona on the North-west and Perpignan on the South-east Commodities of Spain The Commodities that this Countrey yields for Merchandise are Wines Sugars Oils Metals Liquorish Rice Silks Wooll Cork Rosin Steel Oranges Limons Raisins Almonds c. Anniseeds Anchoves Soda Barillia Figs Tunny-fish Iron Shumack Saffron Soap Coriander Hony Wax c. Spain is found at this day to be divided into twelve Provinces which formerly were petty Kingdoms viz. 1. Leon Oviedo 2. Navarre 3. Corduba 4. Gallicia 5. Biscay 6. Toledo 7. Murâ—ia 8. Castile 9. Portugal 10 Valentia 11. Catalonia 12. Aragon Of which in order with their Cities of note and traffick Leon 1. Oviedo 2. In Leon and Oviedo I find no City of Trade memorable the City of Leon being the principal and is the Principality belonging to the Princes of Spain under the name of Asturiaâ— Navarra 2. In Navarre is of note the City of Pampelona famous for her Fortification and not for her Negotiation Corduba 4. Corduba is accounted the most fertile soil of all Spain and hath Corduba for a principal City from whence cometh that excellent Cordovant Leather known to us 2. Marchena a principal breeder of the best Genets in Spain also 3. Medina Sidonia whose Duke was principal Commander of that pretended Invincible Armado 1588. Also Lucardi Barameda a great Haven-town Xeres which yields the Wines known Sherry Sacks because the Spaniards are found to pronounce x as sh in English and also Sevil which requireth according to my Method for her worth and eminency of Trade a Chapter by it self CHAP. XCIII Of SEVIL and the Trade thereof SEVIL is accounted the fairest City of all Spain in compass six miles invironed with beautiful Walls and adorned with many stately buildings as Palaces Churches and Monasteries one whereof is endowed with 25000 Crowns annual rent The River Baetis divides it into two parts yet joyned by a stately Bridge from hence the Spaniards set out towards the Western India and hither return again to unlade the riches of those Western parts of the World which principally are found to be Silver Tobacco Ginger Cottons Sugars Brasil and Ferinand Bucquewood and some Drugs Here is 30000 Geneâ—s maintained continually for the King of Spain his service and the Trade of this place is of that greatness that some are of opinion the Customs of this Town only is worth unto the King half a million of Gold yearly and the Archbishop of Sevil is held so rich that his rent amounts to 100000 Crowns yearly and hath under his Jurisdiction 2000 small Villages and consequently in his whole Diocese 2000 Benefices besides Frieries Nunneries and Hospitals and esteemed the next in degree to him of Toledo The rarities of this place I willingly omit as well known to out Nation Accounts kept in Sevil and Madera In Sevil Madera c. the Merchants keep their Accounts by Marvedies of which 375 are esteemed to make a Ducate of Exx o 11 Rials every Rial being 37 Mal. and so is but 374 Mal. But our English there resident keep their Accounts in Rials of 34. Mal. the Rial Coins of Sevil Their current monies are these A Ducate of Gold of Sevil is worth 375 Marvedies accounted 5 s. 6 d. sterl A Rial of Castile is worth in Sevil 34 Marvedies and is so worth throughout all Spain which is accounted 6 d. sterling money A Dobra current is worth of Carlin money â—1 â—7 Marvedies every 1000 Dobras are 80 V. 883 Marvedies and is accounted in Merchandise 71 Mar. and is worth in Valentia at even hand 4 Sold. 7. Den. 1 10 of Valentia money without charges of Exch. A Dobra of Castile is worth 375 Marvedies or is above a Ducate of Gold A Castilian of Merchandize is worth 485 Marvedies about 7 s. ster Vide monies in Castile current in all Spain Exchanges in Sevil. Their Exx o are made upon the imaginary Ducate of 375 Mar. payable in Banco with five per centum which is the Banco's salary or without the Banco to be paid without the same and this Ducate is commonly termed Ducato de Oro or de Peso and is worth as above 375 Marvedies In Sevil they make their payments as following if you say in Ducate di Oro oâ— de Castilia upon Banco those are then paid in Banco without loss at all but if you say to be paid in so many Ducates Doro in Pistolets forth of Banco they will pay in the said money but if it be said to pay in Carlins it will cost ½ and sometime ¾ per centum loss But because I have at large in the Tract of Exchanges in the Chapters 294 and 426 treated of the Exchange of this place therefore I will to avoid repetition refer the Reader thereunto for further and ampler satisfaction Weights of Sevil. There is used in Sevil three Weights or Kintars As first the smaller which comprehends 112 l. of four Roves of 28 pound a Rove The next is of 120 l. of four Roves of 30 l. to a Rove The
but of 600 only The Ducate of Spain hath 11 Rials of Plate and every Rial as I said before 34 Marveâ—… and every Ducate 374 Marvedies which is 5 s. 6 d. English the Rial 6 d. and the Marâ—… less than our farthing the single Pistolet of Gold 11 Rials ¾ being 400 Marvedies which is according to 6 d. a Rial 5. s. 10â…› Esterling Exchanges in Castilla In Castilia they that give money upon Exchange do agree to be paid in Ducates of Gold 〈◊〉 their worth in Gold or Silver for if they should not do so they should be paid in base 〈◊〉 ney which would prove to be more than five per cent loss The orders of the Fairs in 〈◊〉 are thus Fairs of Castilia The first is the Fair of May and is made in Medino del Campo and begins the first of 〈◊〉 and lasteth 50 days The second is the Fair of August and is made in Medina di Riosecco and begins the first 〈◊〉 August and lasteth 30 days The third is the Fair of October made in Medina del Campo and begins the first of November lasting 50 days The fourth is the Fair of Villa Lion begins the first day of Lent and lasteth twenty dayâ— but is no Fair of Exchange the time expired there may no Goods be sold nor payment made upon pain of forfeiture of the Goods and Moneys And it is to be noted that the Lâ—ters be there fifteen days before the time The payments The payments upon all the Fairs they make in Banco not saying forth and they are to recâ—…in Ducates de Oro in Oro largo and forth of Banco where they say forth of Banco and 〈◊〉 ready money there is gotten thereby one per cent and when they say Ducates of Gold or 〈◊〉 worth it is understood in Marvedies 375 for a Ducate and when they say forth of the Fair 〈◊〉 understood for ready money and this shall suffice to have said of Castilia in general and a for the custom and manner of their Exchanges here practised see the Chapter 426 of the fachange of Spain at the end of this Tract Portugal In Portugal once a Famous Kingdom and the rather for the fortunate discoveries made in the Eastern Indies by the Inhabitants there is many fair Towns of Trading but all of theâ— giving precedency to Lisbon the Metropolis of this Kingdom I shall willingly therefore 〈◊〉 the rest and inlarge my self thereupon Commodities of Portugal The general commodities this Countrey abounds is are these Honey Wine Oyl Allum Fruits Fish white Marble Salt c. and those many other Commodities that it is now in great abundance found to yield are the proper Commodities of the East-Indies such as are Pepper Cloves Sugars Nutmegs Ginger Cottons Calliâ—… the Gems of India the Spices and Drugs of Arabia and the Silks and Fabricks of Persia and China which though here to be had yet I have here omitted the mentioning as not being the native Commodities of Portugal CHAP. CXVII Of Libon and the Trade thereof Lisbon and Trade thereof LIsbon is accounted to be seven miles in compass and to contain 20000 families having 67 Towers upon the Walls and 22 Gates to the Sea-ward and 16 to the Continent it is seated upon the River Tagus accounted most famous and commodious for Traffick and Commerce from hence the Portugals set out to the East Indies and hither do return again with all those Spices Drugs and other the rich Merchandize which East-India Arabia Persia and China do afford at the entrance of the River Duero stands Porto also a Town of good Trade where the Galiies used in times past to land the Merchandise and therefore is called Porta Gallorum by which means some Authors do infer the whole Countrey took its name of Portugal But to proceed to Lisbon I will note what I have observed thereupon in matter of Traffick according to my proposed Theme Coins of Portugal The Coins in Portugal found current are these A Croisado of Gold is worth 400 Reas. A Ducate of Portugal is 10 Reals which is 400 Reas which is five shillings sterl A Rial is 40 Res or 6 d. sterling a mill Reas is 22 Rials A Testoon is 2½ Rials or 100 Res or 15 d. sterl A Vintin is 20 Res or 3 d. sterling A Mirle of Gold is 1000 Res which is 2½ Ducates A single Rial Spanish is 2 Vintins or 4 Res. Weights of Portugal Their Weights are these a small and a great the great Cantar is divided into four Roves and each Root is 32 Reals which is 128 l. at 14 ounces per l. which hath been found to make in Florence 149 l. their small Quintar for Pepper and Ginger is near 112 l. English the Rove or Quatern is 2â— l. the great Quintal holdeth 15 in 16 per cent more than the English 112 l. The King hath a Quintar for his Contractation house to sell the Spices of India by which is 150 l. of Florence and is about 114 l. English the great Cantar of Lisbon making in Florence 170â…“ or 130 l. English but all fine Goods is by custom of the place to be sold by the said Kings-Beam These Observations upon 100 l. small of Lisbon have been made in and yield The 100 l. small of Lisbon doth yield in London 113½ li. Marselia 126½ l. Venetia sotile 168½  Venetia gross 106 3 â— Â Sicilia 63¼  Florence 149¼  Antwerp 107¾  Lions 119 â— â— Â Sevil 110¾  Dantzick 130½  Genoa 162.  Aleppo 23 Rials Aleppo Silk 24 6.  Irip. Soria 27 6.  Irip. Barbaria 98 l. Baruti 22.  Alex. Zera 51 3.  Alex. Forsia 117 6.  Seio 102 10.  Constantinople 93 6.  Rhodes 20 7.  Acria 18 3.  Babilonia 15 10 Ma. Balsera 4 5½ Ma. Ormus 113.  Which for trial I refer to the experienced Measures of length in Portugal Their Measures of length dry and liquid here used are these first their Measure of Cloth is the Coveda which is near ¾ of an English Yard the Measure Linnen is the Vare and iâ— an Ell less nail of the English measure by which may be made the computation for other Countreys and by some found to be 8 per centum less Of Corn in Portugal The Measure of Corn is the Alquier three Alquiers is a bushel 1½ is 8 Gallons Winchester Measure and five Alquiers is a Hannep of Spanish Measure Of Salt in Portugal The Measure of Salt is called the Muy and 60 Alquiers makes a Muy and 2 Muyes and 15 Alquiers is a Tun of Bristol water-measure which is 10 Gallons Winchester and 40 of those Measures do make a Tun. Note that 4½ Alquiers of Lisbon make a Fanega or Hannep in Andalusia by some observations which Fanega is 2 Staios and somewhat more of Florence in such manner that a Staâ—… oâ— Florence may be accounted half a Fanega
be inquisitive and circumspect to inform himself in the true worth and value thereofere he part with his Commodities Weights of Paris The Quintal of Paris is 100 l. which hath been found to produce in London near 100 l. suttle 2 per cent more or less which In Lions renders of 16 ounces 116 l. In Venetia sotile 144 l. 100 l. sotile in Venetia making in Paris 62½ l. of 15 ounces per l. The Cargo or great Quintal in Paris is 300 l. of 12 ounces per l which makes in Florence 487 l. but the ordinary Quintal of 100 l. before-named is of 15 ounces to a pound Wine is sold by the Cistern 96 making a Tun and each Cistern contains 8 Pints so that it may be accounted two Cones of Florence which is Gallons English see London Measures of Paris They have two Measures in length one for Silks and another for Linnens the which are But note that all Merchants selling Silk Stuffs in gross in Paris the same is sold by the Pound weight which is better for the buyer for thereby he discerneth the weight of the Silk he hath for his Money Exchanges of Paris Paris doth exchange with many places which I here omit and place the same amongst the Exchanges in general in the Tract following at the end of this Book in the Chapters 277 and 302. The French not addicted to Trade It may be imagined that this Kingdom considering the Riches thereof should abound iâ— Trade and Navigation but the better sort of Men medling not with Traffick as conceiving the same to be both ignoble and base and consequently unfit for them leave the same to such whose spirits are elevated to that ripeness that they can but only be sorry for their erroneoâ— opinions Their Navigation also is not far the Marselicans greatest Voyage being to Turkâ—… and the Inhabitants of Rochel Saint Malo and Rochel seldom sailing into any Regions further than Spain their ill success in America's Plantations peradventure disswading them bâ—… he that shall wisely look into the beauty of their In-land Towns the Riches of the Countrey it self and especially the plenty of Corn Wines Linnens and Salt that France produceth and how much these Commodities are prized and sought after by other Nations will be more willing to excuse the French for their so little desire to traffick into remove Regions La Beause The next Province is la Beause Orleans wherein is Orleans a pleasant City and where the neatest and most Elegant French Tongue is conceived to be spoken seated on the Loire but affording little matter of Trade or Commerce save that it is found to be a great Through-Fair for all such Commodities as do enter into the heart of the Countrey as to Lions and other Cities upon the River of Loire and by this way and hath a growth of good Wines about it Berry The next is Berry Bourges wherein is Bourges seated as the prime and principal Town who are much addicted to Clothing and where great abundance of Sheep are found to pasture and feed The next is Bourbon wherein is contained Burbon Nevers Mollins Bourbon Nevers and Mollins wherein I never saw any Commodities worth relation save those excellent Instruments of Iron in small Cases here made in great abundance called Estuus and dispersed thence over all Christendom Beavois The next is Beavois the chief Town is Villa Franche Avergne The next is Avergne the principal City is Cleremont Limosin The next is Limosin the principal City is Limoges Perigort The next is Perigort the chief Town is Perigeux Quercu The next is Quercu the chief Town is Montalbon one of the Cautionary Towns in the Intestants possession and now lately by the French King reduced to his subjection Dauphine The next is Dauphine honoured with the Title of the Princes of France Vienna wherein is found Vienna excelling in the Art of making Sword-blades Valentia Valentia a fine City watered with the Rhone and lastly Lions once the principal Town of Traffick in all these parts where having occasion of residence 1616. I noted these particulars following in Trade CHAP. CXXVIII Of Lions and the Trade thereof Lions and the Trade thereof LIons hath ever been accounted a Fanious Mart-Town and doubtless before Navigation had its perfection a City of great Trade and Commerce but for as much as all In-land Towns must submit in this point to Maritime Cities by reason of the commodiousness of the Sea which is the greatest furtherer of all Traffick so must this Town now give place to many others that exceed her in the point of Traffick The Mart of Lions formerly in Geneva There Mart for Trade here setled was formerly holden in Geneva and by Lewis the Eleventh removed hither for the enriching of his own Kingdom and when Pope Julius the Second had excommunicated Lewis the Twelfth he commanded by his Apostolical Authority that the same should be again removed to Geneva but his Holiness herein was not obeyed for Trade must not be constrained but entreated though by Popes which would command all things and therefore stirred not from hence where yet it continueth The Town is watered with the streams of Rhoane and Soane which furthers it much for carriage it is most famous now for the many Fabricks of Silks here wrought and hence dispersed through all France and the Citizens to this end have their Factors in Marselia who trade for them to Aleppo in Syria to furnish them with that Commodity by land also they trade for Florence Lucca Millan Mesina and other parts of Italy but it is only for raw Silks and some such Commodities as these places do afford I resided here some years and found the greatest of their Trade to consist in Exchanges as the principal and most proper Town of France thereto the Bankers of Florence Venetia Lucca and Naples have here their Factors purposely for this occasion From England is here vended some Bays Tin Lead Cony-skins and but few Commodities else and to our Countrey it affordeth not any commodity worth mentioning what I have observed I shall only touch and no more Coins and Accounts in Lions As for Coins current and Accounts keeping it is the same as throughout France There hath been of long time in use an imaginary Coin here current in Exchanges called the Mark which briefly to explain is An ancient Mark in Exchange in Lions A Mark of Gold is 65 Crowns of Mark or 63 Crowns 11 s. 9 d. of Gold in Gold or 62 Crowns of Camera Vechia of Rome or 68 14 3 Ducates current of Venetia And they did use here to keep their Accounts by Crowns of Marks Sold. and Deniers advising one Crown de Mark to be 20 Solds of Mark but is 45 Sold Turnois by which Crown of Mark they did exchange by as briefly for example They gave in Lions one Crown
in Mark to have in Florence 57 or 58 Crowns according to the Cambio To have in Rome 56 Ducates of Camera more or less as the Exchange went To have in Naples 72 Ducates of Carlins more or less c. To have in Palermo or Messina 25 or 26 Carlins c. To have in Spain 400 Marvedies according to the rate of Exchange To have in Anvers so many gross as the Exchange did permit Exchange now of Lions But this custom being now lost by the expulsion of the great Bankers out of this Town in the days of Lewis the Twelfth it is since reduced to Crowns of the Sun of three Livers by which imaginary for so I call it now as having none to be found of that value and rate Coin there is now made and the common and ordinary pieces thereof I will willingly here omit as having mentioned the same at the end of this Work in the Chapters 277 and 302 and other following where all the due circumstances of Exchanges and payments of moneys are observed whereto I refer the Reader Fairs of Lions It is to be noted That here is observed four Fairs in which all payments either By Exchange or for Merchandize are made which run still from three months to three months wherein for so many days rescounters of payments are made without any Money seen stirring from Man to Man which is done in a publick place or Burse appointed to this purpose as I have touched in the Chapter of transferring of Bills of Debts and Specialties in my Factors Adviso the times and terms of which Fairs are these First the Fair of Easter after the Octaves of Easter The second is the Fair of August being the first Munday after our Ladies day in August The third is the Fair of All Saints the day after All Souls The fourth is the Fair of le Roys the day after Epiphany and every Fair lasteth fifteen days that are not Holy-days all business is done in these Fairs and all Bills of Exchange are made and dated in one day and two days after they make the rate of the Exchange which Fairs are counted by their payments Terms of the Bills of Exchange in Lions The terms of their Bills of Exchange hence are these From Lions to Florence Rome and Venice about 30 days little more or less according as the Merchant maketh the agreement every Fair but all the aforesaid places for one and the same day From Lions to Naples and Valentia 5 days later than Florence From Lions to Anvers as Florence From Lions to Spain that is to Medina in Villalion the Fair of All Saints and of the apparition of Lions they exchange for the Fair of Villalion of Middle-Lent and the Fair of Easter of Lions for the Fair of May in Medina del Campo as you shall see more at large in the days of payment of Bills dated in Lions in the said place of the Exchanges of this place Weights in Lions They have in Lions three Beams one used in the Custom-house which is the King's-Beam which contains 100 l. the Quintal and is greater than the second which is the Town weight by 8 per cent by which all Goods pay Custom that are ponderous The second is the Town-weight and is 100 l. the cent the pound thereof containing sixteen ounces per l. upon which all Calculations are made The third is only the weight used for Silk and is 100 l. the cent and the Pound containing fifteen ounces per l. and called The Pound of Mark. The 100 l. of the Town-weight is it whereby the Observations have been made with other Countreys and which by trial hath been found to render thus in these places following In London 96 l. Marselia 104  Venetia sot 143  Ditto gross 89  Sicilia 53  Lisbon 83  Florence 125  Antwerp 90  Sevil 92  Dantzick 109  Malaga 28 R. Rome 122 l. Millain 131  Paris 80  Genoa 135  Almeria 120  Bruges 114  Rochel 104  Diep 94  Rouen 92  And in Asia have made these In Aleppo 19 R. Silk R. 20,9  Tripoli 22¼  Ditto Barbar 81 l. Baruti 18¼  Alex. Zera 43¾  Ditto Forfor 96  Scios 86 Lod. Constantinople 78  Rhodes 17,2 R. Acria 15½  Babylonia 13â…“  Balsara 3,9¼ M. Ormus 93¾ l. CHAP. CXXIX How foreign Measures and Weights are compared with Lions I Find a French Merchant to have made these Observations upon the Trade of Lions which I refer to trial Millain with Lions 100 l. in Millain to have made by tryal in Lions 69 l. Silk-weight the Silk-brace in Millâ—… to render in Lions â— 9 of an Auln The Cloth-brace there to render in Lions 4 7 of an Auln And 20 Sols of Millain caculated for 10 Sols Turnois Turin with Lions 100 l. in Turin to render in Lions 77 l. Silk-weight The Ras which is the Measure to be ½ of an Auln The Florin in money calculated for three Sols Turnois Genoa with Lions The 100 l. of Genoa to render in Lions 72 l. Silk-weight 9 Palms of Genoa making a Câ—… 1 Palm 1 24 of an Auln The Spanish Pistolet worth in Genoa then 11 l. 12 s. in Lions 7 l. 7 s. The Crown of Gold in Gold of Italy worth in Genoa 1 l. 5 s. Florence with Lions The 100 l. of Florence to be in Lions 76¼ Silk-weight 4 Braces being there a Cane 100 Braces being 49 Aulns Lions The Crown of Gold of Florence calculated at 3 l. Turnois Lucca with Lions 100 l. of Lucca suttle weight hath rendred in Lioas 72 3 2 l. Silk weight 100 l. of Lucca of Custom-house weight made 81 l. The Pound of which place being composed of 12 ounces And 2 Braces of the said place made in Lions 1 Auln Bolonia with Lions 100 l. of Bolonia have rendred in Lions 77 l Silk-weight The Brace of Bolonia hath rendred 8 23 of an Auln of Lions The Liver thereof 20 Sols may be esteemed at 11 s. 3 d. Turnois Naples with Lions 100 l. of Naples have made in Lions 68 l. of Silk weight 8 Palnts make a Cane and multiply the Palms by 4 to make them quarters and divide by 17 for 17 quarters is an Auln in Lions which reduced into London measure is The Ducate may be calculated for 48 s. Turnois which is 4 10 sterling Venetia with Lions The 100 l. Suttle of Venetia made in Lions 63½ l. Silk-weight 80 Braces of that place Silk make in Lions 43 Aulns The Ducate may be calculated at 50 Sol. Turnois which is 5 s. sterling Mesina with Lions The 100 l. of Mesina renders at Lions ½ l. of Silk-weight The 100 Braces of Mesina give in Lions Aulns The ounce of Mesina gives by calculation in Lions Bergamo with Lions The 100 l. of Bergamo is in Lions 68 l. Silk-weight The Brace of Bergamo is
100 l. and makes in London 78 l. In Venetia gross 73 l. In Venetia sotile 116 l. In Florence 98 l. Measures of Ancona Their Measure here is a Brace 106 whereof have made in Venice 100 Braces 10 Cones of Cloth in Florence have made here 37½ Braces Corn is here sold by the Staro 6½ have made a sum in Florence Spoleto The next Province is the Dutchy of Spoleto the principal City bearing the Name of Spalata whereof is not any thing in Merchandizing worthy the note that I find and their Weights and Measures do in all points agree with Venetia Civitaveccia The last part of this Country is Saint Peter's Patrimony wherein are principal Cities of Commerce Civitaveccia which hath a pretty Harbour and near which the Allum is made which we call Romish or Roche and here the Pope doth for Trade sake allow a Gentleman the Title of Causul for the English Nation to see that the Mariners who are apt enough to give Offence be not wronged or abused at whose hands in Anno 1619. going thence as a Merchant to Rome I sound all Courtesies and Friendship and passing through Pollidor a pretty Town in the Christmas Hely-days I came to Rome where what I did observe in matter of Trade besides the Devotion of the season and time I shall in the next Chapter declare CHAP. CL. Of Rome and the Trade thereof Rome and the Trade thereof THis City in her antient Splendor was fifty Miles in circuit and had 750 Towers that beautified her Walls and inhabited by 463000 Families but now the compass exceeds not ten Miles and a third part thereof is also waste Ground and hath two third parts of the Inhabitants Clergy men and Courtesans which latter are here accounted to be 40000 and pay 30000 Ducats yearly Tribute which doth maintain Civitaveccia two Gallies furnished known by the Names of the Saburrahs as the place of their abode in Rome but leaving this private Trade to the Virgin Friers I come to the publick Commerce of this City which according to my observation is following Rome and the Territory thereof affordeth for Merchandize Corn Wine Oyl Silk Gloves Allum Lute-strings Kid-skins and some Fabricks made of Silk And from England it receiveth Lead Tin Bays Says Stuffs Pilchards Herrings white and red Newland fish Calves-skins Salt Salmon Tallow Wax c. which are landed at Civitaveccia and thence transported by Boats and Birks to Rome along the so much famoused River of Tiber which passeth through the same Coins in Rome The Coins of all Italy pass here current but the principal of this Country that are current is the Ducat or as they call it the Crown of Gold which is worth 11 Julios or Paulos The Crown of Silver is worth 10 Julios or Paulos which is 100 Baioches or 400 Quatrins The Julio is worth 10 Baioches or 40 Quatrins The Baioche is worth 10 Quatrins or 1 Sold. 4 Den. small Money of Rome Accounts in Rome Their Accounts are kept in Crowns Julios Baioches and Quatrins as above and sorne in Ducats of Camera or Destampe of which 97 11 3. make 100 of Gold Weights in Rome Their Quintal in Rome is 100 and makes in London 80 l. and with other Countries is found to be in Venetia sotile 119 l. In Naples 106 l. Venetia gross 75 l. Florence 102 l. Genoa 110 l. But note that of these Quintars of 100 l. is framed two different Weights with allowances given thereupon as in sale of Spices and such like The Quintar thereof is accounted to be of the abovesaid Weight 160 l. And the second for the Weight of gross Goods accounted to be 250 l. to the Quintar which is to be observed in the sale of a Commodity and therefore the Commodity and the Weight whereby it is sold is to be observed Measures in Rome They use also two Measures in length the one for Linnen and Woollen called the Cane divided into 8 Palms and 30 Canes is 100 Braces Venetia the other which they call the Brace which is 3â…“ Palms of the said Cane which Brace renders in Flerence 1½ Brace the first making in London inches and the latter inches Corn is sold by a Measure called the Rugio which renders in Genoa 1â…ž Mins and in Florence 8¼ Stâ—ios and is 412 l. of Rome and is in England gallons But by reason of the great occasion that Clergy-men from most parts of Europe have to use Money in this City the Exchanges thereof are most worthy observation therefore I have handled the same in the 278 and 326 Chapters with all circumstances thereunto belonging to which I refer you From Rome I will take my way to Venetia and to that Republick and see what is there more worthy in matters of Commerce CHAP. CLI Of the Commonwealth of Venetia and the Cities of Trade therein Venetia and the Trade thereof THE Commonwealth of Venetia containeth these Provinces La Marca Trevigiana Friâ—… Histria part of Dalmatia and the Islands of Candy Corfu Cephalonia Ithaca Zâ—… Lucaia Cythera c. In which I find these principal Cities of Trade first Treviso next Palâ—… a famous University for Physick next Vicentia next Bressia which is accounted the second for greatness in Lombardy next Verona also a fair City of Crema a strong Fort Aquilegia once of great circuit now devoured by the Neighbourhood of Venetia Parma a modern Town built by the Venetians within these late years next is Cape de Istria Pola and some others of lesser Note and last of all the Metropolis of all this Commonwealth which is Venice it self of these or as many as have gathered any Observation I shall declare CHAP. CLII. Of Treviso and the Trade thereof Treviso and the Trade thereof TREVISO is the principal City of that Province which to the Venetians is known by Marca Trevigiana and commodiously seated for an Inland-Trade the chief City Venetians depriving all the rest of any eminent Honour in matter of Traffick therefore herein I shall be the briefer and first For their Coins current and their Accounts kept I willingly omit the same as to be found more at large under the Title of Venetia As for the Weights and Measures thereof it will not be improper that I set here the agree ments thereof with Venetia as being seated within that Commonwealth Weights of Treviso Treviso is found then to have two several Weights a gross and suttle in the same mannâ— as Venetia which thus agree together 100 l. gross in Treviso makes gross in Venetia 92½ l. 100 l. suttle in Treviso makes suttle in Venetia 112 l. 100 l. suttle Venetia gives in Treviso suttle 89½ l. 100 l. suttle Venetia gives in Treviso gross 58â…“ l. 100 l. suttle Treviso makes gross in Venetia 70 l. All which considered the thousands are found thus to accord Measures of Treviso 1000 l. suttle Treviso is 1125 l. suttle Venetia 1000 l. gross
Florence The Coins current are the Ducats of Florence and the Picols The Ducat is worth 7 Livres or 70 Bolognini The Crown is worth 7½ Livres in Picholi whereas the Custom is different from other Countries wherein the Crown of Gold is not found to have any constant Rate with the current Money of the place and is adjusted therewith according to the Rate of the Exchange The Livre is 20 Sold and accounted to be 9 d. sterling The Ducat being 7 Livres is accounted there 5 s. 3 d. sterling The Seudo or Crown of 7½ Livres is consequently 5 s. 7½ sterling The Livre is also divided to 12 Craches whereof 8 is a Julio which is 6 d. sterling 5 Quatrins is a Crach and 60 Craches makes a Livre Weights of Florence Divers Observations have been made upon the Weights of Florence which is 100 l. or Quintel of 12 Ounces to a Pound the most noted I will here insert and refer the truth to him that hath a cause of trial because I have received them upon trust The 100 l. then hath been found to produce in these places The 100 l. of Florence hath rendred in Anvers 73 l. Lions 76  Dantzick 88  Venetia sotile 114  Venetia gross 71  Siena 103  Pulia 104  Lucca 102  Bollonia 95  Farrara 101  Padua 117  Millan 103  Cremona 113  Roma 98  Genoa 108  Marselia 91  Barcellona 71  Valentia 96  Granado 66  Sevil 75  Lisbon 92  Paris suttle 90  Paris gross 112  Brussia 78  London 78  Ancona 98  Majorca 92  Sicilia sotile Rot. 44  and gross R. 48  Tunis 100  Aleppo R. 15¾ R. Ditto Silk 16¾  Tripoli Soria 19  Ditto Barbaria 67¾  Baruti 152  Alex. Zera 162  Alex. Forfori 81 6  Scio and Smyrna 71  Constantinople 64  Rhodes 14 3  Acria 12 8  Babylonia 10 10  Balsara 500½ M. Ormus 75 10  Measures of Florence As of Weights formerly compared so do I find the Brace of this place whereby all Commodities are measured and upon the 100 Braces of Florence hath been made these Observations and to make The Cane is 4 Braces and the 100 Braces are in London 49 Ells Anvers 81  Frankford 102  Dantzick 67  Vienna 71  Lions 49  Paris 46 Aulns Rouen 42  Lisbon 49 Vares Sevil 24  Madera 50  Venice 88 Braces Lucca 97  Millan 112  Genoa 235  Note that all Wrought Silks are here bought by the pound weight and not by the Cane noâ— Brace above-mentioned Of Wine Wine is sold by the Cogno which are 10 Barrels and 1 Barrel is 40 Metadels or 20 Bottles or Flasks each Bottle being 2 Metadels the Barrel is to weigh 120 l. Of Oyl Oyl is sold by the Orcio which is a Barrel and contains 32 Metadels which ought to weigh 85 l. Of Corn. Grain is sold by the Moggio and is Staio 24 and the Staio is 50 l. Of Salt Salt is also sold by the Staio which weighs 72 l. Agreement of dry Measures of Florence The agreement of the Staio of Corn I find thus computed with other Cities Staios 3¾ of Corn in Florence is 1 Sache of Venetia Staios 3 in Florence make 1 Sache in Pisa Staios 2â…˜ in Florence make in Plombino 1 Staio Staios 8¾ in Florence make in Rome 1 Rotulo Staios 10½ in Florence make in Palermo a general Salmo Staios 13 in Florence make in Misnia a gross Salmo Staios 1½ in Florennce is in Naples 1 Tomolo 16 Tom. is a Salm. there Staios 6½ in Florence is in Ancona 1 Somo of Corn. Moggio 1 in Florence is in Arles 10½ Sesterces Staios 3 in Florence is in Marselia 2 Mines Staios 60 in Florence is in Britany a Tun of Corn. I have been the larger in the Weights and Measures of Florence because I shall have occasion to accord other Cities to this and therefore to make this the more absolute I have added the following concordancy of the dry Measures of this place with other Countries following which I refer to the better experienced for due trial CHAP. CLXI Of the dry Measures of several Cities in Italy with other Cities in the Mediterranean Seas Agreement of dry Measures in sundry Cities of Italy c. NOW forasmuch as I find it very difficult to accord so many Cities in the Measures of Corn Salt Wine c. I will here add what I have collected therein which properly may best follow the preceeding agreement of the dry Measure of Florence First then a Mine of Corn in Avignon is 1 Staio of Pisa An Anne of Lions is 8 Staios of Florence which Anne of Lions is there accounted 6 Buccets A Quarter of England is 11 Staios of Florence A Moggio of Grain in Florence is 3 Annes in Lions which Moggio is accounted 10 Sesterce there and the same in Provence Alquiers 104 of Portugal are 40 Buccets of Lions 1 Muy of Orleans and 12 in 13 Mines makes 13 Buccets of Lions 1 Tun of Grain either in Picardy or Normandy to be laden aboard their Ships is 16 Mines which are 2â…” in Moggios which are 24 Mines and the 24 Mines there are 3â…“ Moggio of Florence and 1 Mine of the said places is 3½ Staios incirca of Florence 1 Tun of Corn laden in Britany is accounted to hold and make 60 Staios of Florence 1 Fanega in Calais is 2â…› Staios of Florence 1 Salmo general of Sicilia is in Portugal Alquiers 22½ The said Salmo of Sicilia is 11¼ Staios in Florence The gross Salmo of Sicilia is 17 per Cent. greater than the general The Salmo of Calabria is 6 Tumelles of Naples The Tomolo of Naples is 2 Staios of Florence The Carro of Apulia is 3 Moggio of Florence Alquiers 4½ of Lisbon are 1 Fanega in Andalusia 1 Fanega is 2 Staios of Florence and a little more so that the Staio of Florence may be accounted the Fanaga and Alquier of Lisbon 2â…™ Staio One Moggio of Florence makes in Arles 4â…“ Sesterces And in Marselia doth make 2 Sesterces The Staio of Venice comes to make one Sack of Pica or little less The Mine of Corn of Genoua are 4½ Staio of Florence The Sesterces 5 of Grain in Avignon are one Salmo of Sicilia A Car of Corn in Padua is in Calais 34½ Fanega and makes in Lisbon 145 Alquiers of 36 Tomolos of Naples the Carro The 500 Retibe of Corn in Alexandria is in Leghorn 1090 Sacks The Staio 63 of Corn of Ferrara makes just a Carro and this Carro makes in Constantinople 57 Cassise The Retibe of Alexandria is in Legborn 6â…• Staios The Cillâ—a of Chavella is 3 Staios of Florence 1 Tun of Grain in Britany is 60 Staios of Florence The Cassise of Corn in Valentia in Spain is â…” of a general
CHAP. CLXIX Of Urbin and the Trade thereof Vrbin and the Trade thereof URbin is a fair City seated on the bottom of the Appennine where it hath for Sea-Ports Pisauro and Fano the English here do enjoy many Immunities and sundry Privileges the original whereof did arise in the Reign of Henry VI. of England who created the Duke of this place a Knight of the Noble Order of the Garter and he to requite the Honour to himself done returned it thus to the said King his Subjects It now affordeth the common Commodities of other parts of Italy which it also followeth in matter of Trade Accompts in Vrbin Their Accompts are here kept in Livres Sols and Deniers 12 Deniers making a Soldo and 20 Sols a Livre The Current Coins of this place are the Romaine and do as in most parts of these Italian Principalities partake one anothers Coins which passeth Current with some small distinction from one City to another Weights The weight is here the Pound and the Quintal being 100 l. which produceth in Venetia Suttle 112½ and Gross 72 l. and hath produced in London 77 l. Averdupois Measures in Vrbin Their Measure of length is the Brace the 100 Braces of Cloth in Venice rendring here 94 Braces and the 100 Braces of Silk rendring here 102 in 103 Braces which is in England Inches CHAP. CLXX Of Parma and the Trade thereof Parma and the Trade thereof PArma the chief City of this Principality affording the Commodities common with the rest of Italy doth over and above afford that excellent Cheese known through Europe by the name of Parmesane it is not noted for any eminency in Trade the greatest fame that of late it obtained was by being subject to that Alexander Farnese who was Duke thereof and made such a noise in the Netherlands during his Regency there to his Masters great Expence but to little purpose Accompts in Parma For Trade observe That their Accounts are kept in Livres Sols and Deniers 12 Deniers to the Sold and 20 Sols to the Livre which is Sterling The Coins current of Parma are Weights in Parma The Weight is the Pound of 12 Ounces and 100 l. to a Quintal which is in England about 60 l. and in Venice sotile Measures in Parma Their Measure is the Brace agreeing with the Brace of Florence and now to Placentia also subject to this Principality CHAP. CLXXI. Of Placentia and the Trade thereof Placentia and the Trade thereof PLacentia is a commodious City for Trade and seated properly to that end upon the River Po affording the ordinary Commodities of Italy but in nothing so famous as for the Fairs in Exchanges here quarterly hept to which place all Italy Germany and other Countries do make their Exchanges rather for the Fairs than for any Commodities wherein they intend to have the said Monies invested and for the Monies of the Country there is no account had therein thereof but only of that wherein the Exchanges is made which is called the Crown of Marque wherein only Bankers and Exchangers do keep the account of this City and of those Crowns Accompts in Placentia their Accompts are framed in Crowns Sols and Deniers of Marque as I have more at large treated of in several Chapters of Exchanges vide 276 and 382 and others following which by reason of the great concurrency I have there amply specified and to which I refer you Weights in Placentia The weight of Placentia is the Pound and 100 l. the Quintal which 100 l. is in Venice gross 66 l. Venice suttle 108 l. and by that computation in London suttle Pound 72 l. incirce Measures in Placentia The Measure is a Brace which is 27 Inches English in this Principality is Mirandola accounted of which a word passando CHAP. CLXXII Of Mirandola and the Trade thereof Mirandola and the Trade thereof MIrandola being a City also belonging to this Principality I thought good to insert in my way what I have observed in the Weights and the Measures thereof Weights The Weight of Mirandola is the l. 12 Ounces 100 l. whereof is a Quintal and found to be Averdupois 75 l. Measures The Measure is the Brace found to be 26½ Inches English and so much for Mirandole and now to Legorn therewith to finish the Trade and Commerce of Tuscany and of these petty Dukedoms CHAP. CLXXIII Of Legorn and the Trade thereof Legorn and the Trade thereof LEgorn is situated on a sandy Plain close to the Sea-side it hath an inward Mould where the Grand Duke of Tuscany's Gallies are kept and some small Vessels permitted to Ride and is accounted the strongest modern City in the Mediterranean Seas purchased not many years past for 120000 Ducates of the Genoese by the Duke of Tuscany who reedifying or rather building a new City to the old new fortified and walled the same giving safe Conduct to all Men of what quality and degree soever to live here so that at the first it was a Sanctuary for all Thieves Pirats Murtherers and wicked Rascals and because here was also granted a liberty in Conscience the Town was also stored with all Religions but as the City became populous and Merchants being granted a freedom in Customs the place became in a short time to be filled with Inhabitants and to add to these Immunities there were Dwellings for seven years given to any that would come hither to reside and all such should be free from all Arrests or Punishments for Acts committed in all other Countries of what nature soever they were found to be and by these means at first and since by the incouragement of the Great Duke of Tuscany it is become one of the principal Towns of Trade in all those Seas and is properly accounted the Scale of the Florentine Dominions In matters of Commerce it is ruled by Pisa and Florence which are the principal Cities of this Dutchy and which yield the Commodities that drives the Traffick of this place the principal Notes that I observed at my being in this place in several Voyages are as followeth Accompts in Legorn Their Accompts are kept in Livres Sols and Deniers 12 Denters to a Soldo and 20 Soldo accounted to a Livre which is Nine Pence Sterling Coins in Florence Their Monies are those of Florence which current is the Ducate of 10½ Julios or of seven Livres which is five Shillings three Pence Sterling and a Scudo or Crown of Gold is 7½ Livres and one Crown of Gold in Gold or as they say De Oro in Oro is 8 Livres Also Note That 12 Craches make a Livre which is 9 d. 8 Craches make a Julio which is 6 d. Sterling 5 Quadrins make a Crache â—0 Quadrins a Livre 3 Quadrins make a Sol. Mote That the Craches are ½ Silver and the Quadrine Copper To bring Ducates of Florence of seven Livres the Ducate into
Genoua Their Measure of length is the Cane containing 9 Palms which 9 Palms have made 4 Braces of Florence and the Measure is for Silks and Stuffs but 10 Palms in Linen makes a Cane and is in Florence 4 Braces and the said Cane by observation hath made in Venice 3½ Braces of Cloth and 3 11 16 of Silk Braces and upon the 100 Palms have been made these observations and to have rendred In London 27 Yards Anvers 34 Ells. Frankford 43  Dantzick 23¾  Vienna 30½  Lions 21 Aulns Paris 19  Rouen 18  Lisbon 20¾ Vares Sevil 28  Madera 21  Venice 37 Braces Lucca 41 1 20  Florence 42  Millan 47  1 Cane is in Barcelona 1⅗ Canes 9 Palms in Genoua is in Florence 1 1 16 Canes 1 Cane in Genoua is in London 2⅞ Yards Note that it hath been observed that five Palms hath made almost an Ell English or 25 Palms 6 Ells and ½ and 100 Palms thus is 26¼ Ells and 50 Yards have made here 17 Canes Of Corn. Corn is here sold by the Mine whereof 64 make the 100 Saches at Pisa and 100 Mines make 137½ Staios in Venetia and the Mine pays 6½ Sols for Custom in Genoua and weighs 170 l. and half a Mine is called a Corno the quarter of Harwich measure hath made here 2½ Mines but the London quarter not so much Of Oil. Oil is sold by the Barrel 7½ Barrels making a Neapolitan But called here Botta dimena Of Wine Wine is sold by the Meserole and 5 Meseroles is a Botta dimena and 2 barr make 1 Meserole which is also 100 Pints so that 500 Pints of Wine make a Botta dimena All Goods entring into Genoua pays for Consolato of the River 6 Deniers per Livre and is by the Buyer according to the price bought if a Contract be not made with the Seller for discharging of it And he that Lands Commodities here in his own name and cannot make sale thereof hath had formerly leave to carry the same out again without paying any Charges but this Privilege is now disannulled Many Silk Fabricks are here made common with all Italy the principal being Velvets watred Chamlets c. sold by the Pound weight as is usual through Italy Exchanges This City is famous for the Exchanges here practised as doth more fully appear in the Chapter of the Exchanges here in use vide Chapter 279 and so forward where all Circumstances are inserted And now to Lucca CHAP. CLXXV Of Lucca and the Trade thereof Lucca and the Trade thereof LUcca is the principal City of this Republick and is pleasantly seated on the River Serchio in compass about three Miles in a Plain the Walls being adorned with Trees make the City appear to the Travellers to be in a Wood till approaching near the Bulwarks give testimony of her strength and that these Trees are planted on the Walls where the Citizens in Summer walk for shade It doth wholly consist upon the Fabricks here made of Silk such as is Damasks Satins Tassaties c. which hence is vended in Forein Countries which are all sold by the Pound weight according as it is accustomed in Italy and as for other matters in Trade what I observed in 1619. is thus Accompts in Lucca Their Accompts are kept divers ways some in Livres Sols and Deniers of Picoli as in Florence 12 Deniers to a Sol and 20 Sols to a Livre some again in Crowns Sols and Deniers of Gold of Livres 7½ per Crown accounted by 12 and 20 as is abovesaid but Silks are sold by so many Ducates the Pound so that to reduce Ducates into Crowns the number of Ducates is to be multiplied by four and divide the Product by 71 adding what may rest with the Ducates and they shall be Crowns of 7½ Livres Note that to bring Ducates of Florence or as they term them Piastres of seven Livres the Ducate into Crowns of Gold of Florence of 7½ per Crown divide by 15 and subtract the Quotient from the sum divided and the remainder is the demand Again to bring Crowns of Gold of Florence of 7½ into Ducates of 7 Livres divide by 14 and the Quotient added to the sum divided will answer your desire Again to bring Livres of Lucca into Crowns of Lucca or Ducates of Florence take the sum of Livres and add as many more unto them the Product being divided by 15 then the same are Crowns of Lucca of 7½ Livres I say Livres for Crowns and Ducates of Florence of 7 Livres per Ducate for that the Crown of Lucca and Ducate of Florence are all one in value but in the Livre of Lucca and in that of Florence is some difference because the Livre of Florence is 7½ per cent greater than that of Lucca Note also that 75 Bolonins make a Florence Ducate of 7 Livres and 79 Bolonins make a Lucca Ducate by which they account in sale of Silk The Crown is commonly thus charactered C. The Piastre or Ducate is thus D. The Livre is thus L. The Sol is thus and the Denier d. Monies in Lucca Their Monies common is that of Florence Current called Bolonini the Crown of Gold is 7 Livres 10 Sol in Picoli as at Florence The Ducatoon is worth 7 Livres and is called the Crown of Silver but the Exchanges are made by Ducatoons Sols Deniers as more fully doth appear in the 283 Chapter of Exchanges practised in this City to which in that particular I refer you Weights in Lucca They have in Lucca two weights one of the Ballance weight whereby all Goods are bought and sold and the other whereby Merchants do pay the Customs wherein is about 12 per cent difference The Ballance pound is 12 ounces 100 l. whereof hath made in Lins 72½ l. The Customers pound is also 12 ounces 100 l. thereof hath rendred in Lions by tryal 81 l. The Ballance 100 hath made in Florence 97 l. Measures in Lucca The Measure of Lucca is a Brace which is 23 Inches of London and two Braces hath made an Auln of Lions and upon this 100 Braces have been made these Observations that it rendreth In London 50 Ells. Antwerp 83⅓  Frankford 104⅙  Dantzick 69⅙  Vienna 72½  Lions 50⅚ Aulns Paris 47½  Rouen 43½  Lisbon 50 Vare Sevil 67½ Vare Madera 51½ Vare Venetia 90 Braces Florence 102 Braces Millan 115 Braces Genoua 240⅓ Palms Accompts of Sale of Silks in Lucca Silks have been thus sold in Lucca Damasks were sold at 4 Ducates and 18 Sold the Pound Sattins were sold at 4 Ducates and 14 Sold the Pound Rich Taffeta sold at 4 Ducates 16 Sols the Pound It is here to be noted That in Lucca there is paid ¼ more for the colours than for Blacks therefore the Custom is to add for the colours that are in the parcel ¼ to the Weight reducing them all
able with wind and Oar to break through them and the Country is the pleasantest of all Denmark Blesida In Blesida is found the City of Malmogia and the strong Castle of Colmar against the Sweedlande◠The principal Trade of this Kingdom is contained in Copenhagen and Elsinour therefore under the title of these two I will comprehend the Traffick of this Kingdom CHAP. CCXI. Of Copenhagen and the Trade thereof Copenhagen and the Trade thereof COPENHAGEN is the Seat of the Kings of Denmark in Winter and may be interpreted the Merchants Haven on the East-side is the Kings Palace or Castle which bordereth on the Sea shore where the Haven is found to be the Sea being not far distant from the North side thereof the City is of a round form affording little beauty as being but meanly built of wood and clay and the Castle of stone Here are found some Merchants yet for the mostipart of no great eminence for the Country affordeth no rich commodities that may allure others thither or serve to be transported to other regions whereby a gain may be expected The Coins of Copenhagen The Monies of this Kingdom commonly current is the Dollar and shilling two Danish shillings make one Lubeck shilling and 66 Danish shillings accounted for a Rix Dollar which is five shillings Sterling Accounts in Denmark Their accounts are kept by marks of 16 shillings Danish Their exchanges are here practised by the Rix Dollar above mentioned the common current Coin of these Countries Measures and Weights c. Their Measures and Weights I will briefly observe by themselves and therefore hasten to Elsinour CHAP. CCXII. Of Elsinour and the Trade thereof Elsinour and the Trade thereof ELSINOVR of it self is but a poor Village but much frequented by Sea-men by reason of his neighbourhood to that straight Sea called the Sound where the King of Denmark hath laid so great Impositions upon all Ships and Goods coming out or going into the Baltick Sea as this sole profit surpasseth far all the Revenues of his Kingdom the strong Castle of Cronburg lies in this Village upon the mouth of this straight to which on the other side of this narrow Sea in the Kingdom of Norway another Castle is opposite called Elsburg which two are the keepers of this Straight that no Ship can pass in or come out of the Baltick Sea without their leave and consequently without due payment of this Imposition On the South side of Cronburg Castle is the largest Road for Ships toward the Baltick Sea where the King is said to have his lodgings which cannot choose but be a delectable prospect to all men but especially to him for Ships go in and out here by Fleets of a hundred and he is certain that none do pass either way but according to their burthen and loading adds somewhat to his treasury The Haven is able to contain a great Fleet for it hath Cronburg Castle on the North side the Castle of Elsburg on the East side and Seeland the chief Island of the Kingdom on the West side and the Island Fimeria or Whern on the South side in which I noted before that Tycho Brahe the samous Mathematician had his residence The Danes conceive this Island to be of such importance as they have a Fable That Henry the seventh of England offered for the possession of it as much Scarlet Cloth as would cover the same with a Rose Noble at the corner of each cloth If any such offer were made doubtless the wildom and judgment of that Prince knew how to make that Island being fortified peradventure to return him his charges again with good Interest but it is not credible by reason that it cannot benefit a foreign Prince whole Territories heth out of the Sound by which he must needs enter those before mentioned Castles commanding the entrance though it might prove more beneficial to some Prince bordering upon the Baltick Seas and to whom the Sea is open for passage CHAP. CCXIII. Weights in general of Denmark reduced to that of London Weights in general of Denmark NOw for the Weights of this Kingdom they are found to differ in many places so many as have come to my hand I have reduced to the suttle hundred of London which suttle hundred is found to produce in these Cities of Traffick and some others adjoyning  l. Aldar 87 Copping ham 92 Cracou 119 Dantzick 116 Hamburg 92 Wilde 116 Elsinour 92 Lubeck 92 Melvin 120 Revel 116 Rhiga 116 Stacar 108 Stralsont 88 Bergen Norway 92 Where it is to be noted that generally in Copenhagen and in most parts of Denmark they hare a great and small hundred one of 112 pound to the hundred and another of 120 pound to the hundred accounted twelve stone of ten pound to the stone Also they have a Skip-pound 32 stone of ten pound the stone or 20 Lispound of 16 mark pound is a Skip-pound and 20 times 16 pound is 320 pound CHAP. CCXIV. Measures in general of Denmark reduced to London Measures in general of Denmark AS I have done with their Weights so I will proceed with their Measures reducing then to the hundred yards English and makes in  Ells. Arsnis 166⅔ Breme 162½ Breslow for cloth 148 Ditto for Silks 160 Connixborough 166 Lubeck 160 Munster 80 Ockermond 141½ Revel 166 Rhostick 158⅓ Wismar 157¾ Dantzick 162½ Doinin 163 Embden 163 Gripswould 163 Hamburg 163 Melvin 162 Narva 166 Ossenbrighs 84 Rhiga 166 Statin 141½ And thus much shall serve to have said for the Measures of this Country whereto I have added the Measures of some other the adjoyning eminent Cities of Trade and Commerce CHAP. CCXV Of the Trade in general of Denmark Of the Trade in general of Denmark TO conclude the Trade of Denmark driven by the Inhabitants is not great their Country partly not affording Commodities for Merchandize and their Seas I mean principally the Baltick not being for many Months in the year navigable for Frost The Inhabitants are frugal in Food and Apparel and therefore not much addicted either to Silks or Spices and the great Traffick and Concourse of other Nations through the Sound that furnisheth them with all Necessaries makes the Inhabitants less desirous to sail abroad to fetch the same at the first hand Stock-fish and other Salted Fish they send into forein Countries and so also they do their Oxen and Cattel in great Quantity besides the Commodities which the Country doth naturally afford mentioned in the former part of this Country's Description neither have I heard any great fame of their Navigations or Mariners which principally sail Northward and little to the Southward tho otherwise it is conceived that next to the English their Vessels are the strongest built to indure the Blasts of the colder Climates and the Scorchings of the warmer Regions yet of late days I have understood they have undertaken some new Discoveries and Trade to the East-Indies
and Island Accounts in Palermo and all Sicilia Their Accounts are here kept by Ounces Taries and Grains One Ounce is 30 Taries One Tarie is 20 Grains Moneys current in Sicilia Their Moneys are also Ounces Taries and Grains accounted one Ounce to be 30 Tariâ—s which is 5 Florins of Carlins 12 the Florin One Tari to be 20 Grains and is 12 Sol. 6 Den. small Money One Tari to be two Carlins One Carlin to be 10 Grains and is 12 Livres One Grain is 6 Picholies and is 7½ Den. Money Siciliano One Poncto is 8 Picholis A Ducat of Gold is worth 13 Taries Note that for the Money which they pay by Bills of Exchange they give allowance 1½ per Cent. for bad Money Weights in Palermo It is to be observed that throughout all the Kingdom of Sicilia there is but one Weight in use only in Messina excepted which I shall shew in its due place now this Weight of Sicilia in general is the Rotolo 30 Ounces which is 2½ l. Sicilian 300 Rot. making the Cantar which 100 l. hath been observed to have made in London 173 l. circa Some have found it to yield 148 l. English or properly in gross to say 1 C. 2 Quarters 4 l. incirca and in Venetia suttle to have produced 260 l. or Venice gross 163 l. circa and hath been found to render in Florence 225 in 230 l. but yet by the calculation I made it should be but 221 l. just it is in Rhagusa 218 l. in Cattarro 78 l. Alexandris Zera 83 Rot. ditto Forfori 185 Rot. in Damasco 43½ Rot. c. Measures of length Their Measure of length is the Cane which is in London about 80 or 81 Inches by the Rule which is 2¼ Yards English this Cane is divided into 8 Palms which is about 10 Inches the Cane making 3 Cloth Braces in Venetia Of Corn. Corn which is the prime Commodity of this Place and Kingdom is sold by the Salmo of which there is the gross Salmo and the general Sicilian Salmo which is the small Salmo upon which general salmo these Observations have been made and that the same is found to agree thus with these Countries In Rhagusa staro 3â…• Dalmatia staro 3¼ Ancoma somma 1½ Ricanati somma 1â…” Rimine staro 1½ Bolonia corbe 3½ In Andalusia 5 Fanegos In Portugal 22½ Alquiers In Florence 11¼ staios In Avignon 5 sesteros In Venetia 3 staros and 1 quarter In Pisa 11 18 staros Bergamo staro 13. Millan mesni 4â…› Genoua measure 2â…“ In Ferrara staro 9. In Tripoli cafesie 15. In Tunis cafesie 15. Alexandria ribebe 1 l. 1. Candia measures 14. Corfu mosie 2â…“ Catarro staro 3¼ Verona minali 7 quastero Vicentia staro 9¾ Padua staro 9¾ Treviso staro 3. Modena staro 3 5 7. Parma staro 6½ Mirandola staro 3 5 7. The gross Salmo of Palermo and Sicilia hath been observed to make in Spalatto staro 4. Rhagusa staro 3â…“ Segnia quart 12. Arbe staro 4. Istria staro 4. Padua staro 12. Vincentia staro 12. Ferrara staro 11. Forli staro 3 quaterroli 14 Bollonia corbe 4â…“ Mantua staro 10. Cremona sommas 2. Bergamo staro 16. Verona minali 8 11½ quarteroli Brassia sommas 2â…” Millan Mesini 5 1 9. Florentia staro 14. Wherein I have been somewhat the larger by reason of the general use of this measure in the Lewant Note that both the gross and general Salmo are divided into into 16 Tomelos and that the gross Salmo is greater than the general Salmo about 17 per Cent. and observe that the ordinary charge of Corn here bought is 3 Taries and 15 Grains the Salmo but if Corn be above 18 Taries per Salmo it pays also a new impost which is per Salmo Of Salt Salt is also sold by the Salmo which in Trappano is made in great quantity where at my being here I observed to be as great as 3 ordinary Salmos of Corn divided also in 16 Tomelos which made Sicilia weight about 7 Cantaros Of Oyls Oyl is here sold by the Cantaro which is 2¾ Barrels of Florence and hath made 180 l. English Customs of Sicilia The Custom of the Island is commonly 9 and 10 per Cent. but Fish and other Commodities for food pays 12 per Cent. Exchanges Palermo is also a place of great Exchanges which briefly at my being there did run thus with other places always noting that all Bills coming from abroad pay one Carlin per ounce to make good Money and they exchange by Ponctos as I have noted elsewhere With Naples and they give in Palermo 160 Pomutos incirca to have in Naples a Ducat current and their Account is made as in the particular of Naples is expressed With Rome They give in Palermo 26 or 27 Carlins to have in Rome a Ducat de Camera With Valentia They gave in Palermo 6 Taries accounted and 1 Carlin per Ounce more to have in Valentia 10 Sold. 3 Den. and a Crown of 12 Taries is 20 Solds and a Ducat of 13 Taries is there estimated for 21 Sold. With Messina With Messina and Syracusa and other places of the Kingdom they exchange with the Crown and the same Moneys This note of Equality or Par I also learned here for current For Valentia Sold 9 dc 10¾ per Florin For Barselona Sol. 11 d. 3â…– per Florin For Majorca Sold 14 d. 10½ per Florin and for the aforesaid places they consider the interest to him that takes by Exchange at the rate of one Carlin per Ounce which they recover accordingly for the other particular Circumstances thereof I refer the Reader to the end of this Tract where the Exchanges of this Place and Messina is largely handled and as the same may more amply there appear in the Chapters 419 420 421 422 423 424 and 425. with all particular Circumstances whereto I desire to be referred for better satisfaction And in the next place survey the Trade of Messina the second eminent City of Traffick in this Island CHAP. CCLVIII. Of Messina and the Trade thereof Messina and the Trade thereof THE last Province of this Kingdom and Island is Mona wherein are the Cities of Nicosia in the Midland Milaso on the North Promontory and Messina in the face opposite to Reggio in Calabria which fare hath in times past been accounted to be very dangerous by reason of those anciently accounted perils Scylla and Charybdis the one a Sand and the other a Rock opposing each other at the entrance thereof now not so much feared by our Sea-men by being more expert this Town is the most eminent Town of Trade in all this Island and inhabited by many Merchants which the benefit of the Haven doth much further and the commodiousness of the Situation and the Privileges and Immunities of the yearly Fairs much augmenteth The Commodities proper hitherto as also to the whole Island as also the
current Advices of those places To conclude then by what hath been said may be clearly discerned the present Height and Amplitude of our English Commerce and the Greatness of Englands Navigation the Continuation whereof my Devotions shall ever second and my Prayer shall be That neither our fained Friends nor yet our froward Foes may ever have just Cause to rejoice at the Decrease nor least Diminution thereof Having thus happily ended my Peregrination and drawn out the utmost Bounds and Limits of this my Map of Commerce and concluded there the Manner and Matter of the general and particular Traffick of most of the eminent Cities and Countries of the World I will now cast anchor and finish in this place my Voyage till the next fair Gale offers and presents it self to imbark my Time and Pen in the Survey and Calculation of the Exchanges of Europe as at this day they are seen practised amongst the Merchants of Christendom FINIS EXCHANGES CHAP. CCLXXIV Of Exchanges in general and of the Method and Manner thereof and how calculated in any Place in Christendom Exchanges in general I Have in the Tenth Chapter of this Map of Commerce shewed That to make this Treatise absolute and compleat the Method and Manner how all Exchanges are framed and calculated is perfectly to be known and learned and there also declared the Necessity of this Knowledge with all Circumstances depending thereupon Now by reason that I have in all the afore-mentioned Cities of this Map wherein either Custom Time or Commodiousness of Trade Exchanges of Monies have been setled and where the said Exchanges are daily used and practised omitted the Form Manner and Calculation thereof together with all the particular Circumstances requisite and necessary to the Explanation of this Mystery of Exchanging I have in this place thought good to allot iâ— as worthily meriting a peculiar Discourse at large by it self which here I conceive it most proper to be inserted and because that my Experience in the Exactness required may not be peradventure sufficient to lead me through in every particular Point and needful Circumstance I have therefore judged it no blemish to my Knowledge to be instructed by those excellent and judicious Bankers Geo. Baptista Zucetta a Merchant of Genoua and Claudio Boiero a Merchant of Lions whose Endeavours herein are worthy Commendations and whose laborious Presidents and preceding Labours where I find my self defective in this Task and Labyrinth I willingly follow What are places of Exchanges Places in use and those as are apt for Exchanges are such where Merchants in some fit and competent number do meet and are assembled for the Benefit and Behoof of Trade and Negatintion which at this present day are observed to be many yet withal are noted not to be so firmly setled but that the same admits sometimes an Alteration and Change varying according as the due occasions of Commerce and Traffick in that place requires either by the Decay of Trade there or by the Increase of the Trade of another Place more fit and proper thereunto Some Cities are the Staples of Exchanges Some Places again are observed to be if I may so term it the Staples of Exchanges and yet notwithstanding have their dependence upon the Exchanges of other places and which else are not found to comprehend any other manner of Traffick having only certain Times or Fairs setled and confirmed by the custom of Exchangers in which and to which Bills of Exchange are either dated expired or renewed in which nature and of which sort Placentia is accounted the most notable for all Italy and other places where indeed Exchanges are found to have a certain kind of Being yet acknowledgeth its real Existence from other Places and Cities Besansin in Burgundy Spossa in the River of Genoua Camberay in Piedmont and some others were in former times observed to be of this kind whose Exchanges did totally depend upon the Partidos of Exchanges made in other Countries and these sometimes of such as had the same Concordancy in the Current Coins of the Exchange and sometimes a Discrepancy The Exchanges of some Cities depend upon the Exchanges of some others And for as much as it is observed That some other Cities where no set Exchanges are sound sometimes challenge by the necessity of Traffick and Commerce a Course of Exchanging with these or the like places and yet have none setled therein then and in such cases is it seen that the Metropolis or principal Cities of these Countries prescribes both the Rule Rate and Condition thereto as if Vicentia Verona or Padua would frame an Exchange with Placentia it is observable That the Rate of Venice in which Estate these said Places are sound to be and who have their Moneys of one and the self same Goodness and Value give the Rule Rate and Condition thereto So in Pavia Como and other Towns in England as in the City of London the principal of that Island so have the Cities of France their Rule from Lions all Places of Flanders from Antwerp and so have the like in other Places and Countries The chief Cities of Exchanges Now for as much as Exchanges are not found current in all places Exchangers Bankers and Merchants have setled a common Course of Euchanging in some certain particular and principal places which are observed in these days chiefly to be these For Italy 13. Rome Genand Millan Naples Barry Messina Bollonia Venice Florence Lucca Lechy Palermo Bergamo c. For France 3. Paris Lions Rouen c. For Spain 6. Valencia Barcelona Alcala Saragosa Sevil. Medina del Campo For Portugal Lisbon only For Flanders Antwerp only For England London only For Germany 5. Vienna Neremberg Colonia Augusta Frankfort c. Besides which some others of lesser note are observed to have an Exchange current but by reason that in most of the principal Points they have a dependency upon some of these and a concordance with them they are by most Authors neglected and therefore shall be by me here wholly omitted Many Cities practice Exchanges by one and the same Monies c. In the next place it is considerable That many of these before-mentioned Cities are found to practise their Exchanges in one and the self-same Moneys Coins and Denominations as do Lachy and Barry which are included in Naples as Naples it self Palermo and Messina comprehended in Sicilia Valencia Saragosa and Barcelona in Catalonia Sevil Alcala and Medina del Campo in Castilia Frankfort Noremberg Colonia and Augusta in Germany and some others What Exchange is c. What thing this Exchanging is properly in it self found to be as also what a Bill of Exchange is and the due Ceremonies and strict Rules thereof together with the Commodiousness Necessity and first real Intent of the same I have shewed in the 10 Chapter which briefly here may not unproperly be defined by the Word it self as it is aptly expressed in our English
Tongue which extends it self into two parts 1. An Exchanging of one sort of Moneys for another and 2. An Exchanging from one City or Country to another Rates Terms Fairs and Usances of Exchange in which is also considerable both a Rate and Term wherein and whereby this is brought to perfection which are principally performed by certain Fairs or Usances accustomed in the Art of Exchanging and which are set down by Merchants Bankers and Exchangers at their Assemblies and Meetings in a fair and regular Order by a certain Course of Justice and by peculiar Laws and Ordinances amongst themselves both which Fairs and the Rates and Terms thereof have a constant expiration within certain months as the Usances have that are likewise included within the Rules of the said Fairs which are found to end within certain prefixt days according to the received Custom of those two Cities wherein the said Exchanges are found mutually and respectively to be setled and placed What is observed in Exchanging in the usual manner thereof Moreover in the Practice of Exchanging Bankers and Exchangers are found to observe this Custom amongst themselves in the usual manner of Exchanging from one place to another that is One propounds his Money in a whole Number or Denomination and the Other consequently and necessarily in a Fraction broken Number or lesser Denomination in which Contract or Bargain it is imagined that these two either Persons or Places would negotiate one and the self same thing so that the one would be the Seller and the other the Buyer thereof to perform which it is questionless needful that he that hath the thing makes the Rate and Price the which shall happen without any Contract or difference of much or little and as it chanceth in the sale of any Commodity so falleth it out by the Exchanges of Moneys for of the two places that would exchange the one propounds a gross Sum and the other the Condition and Price in a lesser Sum which may admit either an increase or decrease in estimation or value according as they fall to agreement upon the lesser or greater esteem of the said Sum propounded the use of which is exemplified thus Example If Placmtia would exchange with any other place the said Placentia or as Exchangers term it the said Fair or Fiera propounds and gives always the entire Sum or greater denomination and by consequence the other that would exchange therewith gives the other which is the lesser denomination This Sum which I thus term an entire or whole Denomination falls in some places to be sometimes one Crown and in other places sometimes 100 Crowns Florins or Ducats the same is likewise found to be practised between any two places Exchanging for each place giveth either a Denomination entire of one to another or of one Hundred to another Hundred or else of a lesser Divident than one or than one Hundred which I here term the Fraction broken Number or smallest Denomination as shall be more plainly expressed in the calculated Table following What an Entire Sum in Exchanges is and what a broken Number or Fraction Now as touching the Moneys which are thus given as entire or whole Sums viz. One or one hundred these are either found to be Crowns Ducats Pounds Florins c. according to the received quality of the gross and whole Moneys which that place is found to have current that would give so in like manner it falleth out in the smaller or lesser Denomination in the places that would take which in themselves is also various and consequently of divers sorts as Pence Sols Deniers c as shall also appear by the said Table Liberty of Exchanging to the judicious And though it fall out to be the Custom that one place giveth an Exchange in gross Moneys and another place in small as is before related and that this gross and small Moneys must be of such or such a quality and kind this Observation and Rule prescribed notwithstanding is not always necessary but that Exchangers may though I confess it is seldom seen at their pleasure propound the one or the other differing or contrary hereunto and that the wise and judicious Exchanger may for his Profit Ease or Commodity propound his own intentions and thereby if he can obtain a beneficial Bargain or Issue according to his Design and Plot. As for Example Ignorant Exchangers consure the judicious of varying from the Custom of Exchanging If it should be said that Exchanges may be made in a method differing from this or the common Rule or contrary to that way that hath been received and taken some would soon censure him of folly that should be of that Opinion and conceive such a one to be little versed in exchanging Affairs that should either propound or seek to perform such a thing but yet no great heed is to be taken to the raw Conceits and childish Opinions of such self-will'd Merâ—…nts which may for the most part be said to be either drench'd in ignorance or drown'd in cary because that a skilful Merchant may as I have alledged frame his Exchanges as he sees good and to his own Commodity the which very oftentimes is observed to be done by others and practised daily by those of this City of excellent judgments Example In Example whereof posito I would exchange Genoua with Naples between which two places the use and custom is that Genoua giveth the entire Sum or greater denomination which is the Crown of Gold for the which Naples gives the Grain 135 a little more or less I demand why may not Genoua give that whole Sum which is the Crown of 4 Livres as it is accustomed to give with other places and estimating the same by 120 Grains Naples and thereby the Exchange will prove to be equal with the first manner before mentioned And further why may not the contrary be practised Naples giving the whole Denomination which may be Decats one for Sold. 66 8 d. and so vary in as many forms as they please wherein I confess I never yet found any Exchanges made neither do know any true reason that the common Cuâ—…oms should be altered tho' I have thought good to note the same here that each knowing Merchant may boldly use which he please for to him that truly understands the value and course of both the places Exchanging there will appear no difficulty therein and I wish that those which know no other ways but their own content themselves within the limits of their own manner and understanding and suffer others of better Judgments without their censure to follow their own when it is to their Benefit or Commodity CHAP. CCLXXV The Declaration of the Table of Exchanges following Declaration of the Tables of Exchanges THE Table of Exchanges of the Cities here following are formed and disposed in this nature first in the front thereof there is placed the Name of the Town or
make a Livre or Pound and 12 Deniers or Pence makes a Soldo or Shilling the same Rule also holds in those places whose greatest Moneys are imaginary and feigned or who keep not this orderly Succession as are the Ducats of Catalonia of Castilia of Rome and of Pertugal also those Crowns who have no proper parts also the Ducatoons in what Country soever and the Florms in Germany all these I say which ought to succeed in 20 and 12 that is in Solds and Den. or Shillings and Pence and each of the other sorts of Moneys shall be accounted according to the property of that Country and as shall be signified in the front of the following Table of that place amongst which there are some which are commonly resolved by the more principal of their own Moneys as the Exchange of Sicily with Catalonia Castilia Portugal Brabant and England and howsoever they make their Exchange either by the Sicilian Florin or by the Ducat notwithstanding the parcel is resolved in Ounces Tarins Grains and Pichols which is throughly declared in the following Tables And lastly forasmuch as the terms and days of Bills of Exchange are found in many Countries to differ in length of time and are limited of divers days and that the Rates â—…sing and falling of Exchanges have a course set by a continual meeting of Exchangers and their Opinions in equality of value I have thought good to insert the same with some other needful Circumstances of this Art of Exchanging at the end of the Tables to which I refer the Learne where also he shall find at large how most of these Exchanges are cast up and reckoned from one place to another and now I will proceed to the Tables themselves as I find them calculated by the said Geo Bapt. Zuletta and others following him CHAP. CCLXXVII Of the Exchanges of Placentia a Place of Fairs or Fiera of Exchanges in Italy The Exchanges of Placentia THis Town is considered as a Fair or Staple of Exchanges and not as a City of Trafficle and therefore there is no esteem made of the current Money of the place but only of that which is made by Exchanging which are Crowns of Mark in which Moneys Bankers and Exchangers do only treat and account in and the same is held by Crowns Sold and Deniers of Mark. And in the Custom of Exchanges here in use it giveth the entire and whole Sum to all other places being either Crowns one or Crowns one Hundred Placentia doth exchange with Lions Crowns 100 for 96¾ Crowns Rome Crowns 100 99½ Ducats Genoua Crown 1 67. 10 Sol. of Gold Millan Crown 1 134. 9 Sol. Venice Crowns 100 130 Ducats Florence Crowns 100 109½ Crowns Lucca Crowns 100 116¾ Ducatoons Naples Crown 1 134 Grains Lechi Crown 1 135½ Grains Bari Crown 1 135 Grains Palermo Crown 1 29 Carlins Mesina Crown 1 29¼ Carlins Antw. Col. Crown 1 128 Grosses London Crown 1 81½ d. sterl Valentia Crown 1 24 Sold. Saragosa Crown 1 24 Sol. 6 Den. Barcelona Crown 1 24 Sol. 4 Den. Siv al. Med. Crown 1 432 Marvedes Lisbon Crown 1 482 Rais Bollonia Crown 1 119 Ducatoons Bergamo Crown 1 118¾ Ducatoons Frankford Crown 1 103½ Quarentins In the 382. Chapter the Reader may find how these Exchanges are cast up and calculated CHAP. CCLXXVIII Of the Exchanges of Lions Paris and Rouen in France The Exchanges of Lions c. IN Lions Paris Rouen and through all France they keep their Accounts in Livres Sols Deniers and Turnois and they here do exchange in Crowns of the Sun and Deniers of the Sun this Livre is also called in some places of France a Frank and 3 Livres or Franks is accounted for the said Crown of the Sun and the Crown of Italy by a Decree and Standard of the Country passeth at 58 Sol. of the said Crown And in the Custom of Exchanging it giveth the entire and whole Sum or Number either one Crown or one hundred Crowns of the Sol. Lions doth exchange with Placentia Crowns 100 for 103½ Crowns Rome Crowns 100 99½ Ducat Genoua Crown 1 66½ Sol. of Gold Millan Crown 1 115 Sol. Venice Crowns 100 116¾ Duc. Bank Florence Crowns 100 106½ Crown Lucca Crowns 100 117½ Ducatoons Naples Crown 1 124 Grains Lechi Crown 1 122½ Grains Bari Crown 1 123 Grains Palermo Crown 1 29½ Carlins Mesina Crown 1 29½ Carlins Antw Col. Crown 1 96 Gross London Crown 1 62 Pence sterl Valentia Crown 1 23 Sol. 10 Den. Saragosa Crown 1 23 Sol. 8 Den. Barcelona Crown 1 24 Sol. Siv al. Med. Crown 1 436 Marvedes Lisbon Crown 1 485 Rais Bollonia Crowns 100 119½ Ducatoons Bergamo Crowns 100 119â…• Ducatoons Franckford Crown 1 104 Quarentins Vide Chap. 302. and so following of the Calculation of the Exchanges of this place CHAP. CCLXXIX Of the Exchanges of Rome in Italy The Exchanges of Rome IN Rome the Bankers and Exchangers keep their Accounts in Crowns Julios Bacochs and Quatrins and they Exchange in Ducats Sols and Deniers of Camera The Crown of the abovesard Money is worth 10 Julios or 100 Bacochs or else 400 Quatrins the Julio is 10 Bacochs or else 40 Quatrins and the Bacoch is 4 Quatrins The Ducat of Camera according to the old Value is worth 2½ per Cent. more than the Crown of Gold so that 100 Ducats are 102½ Crowns In the Custom of Exchange amongst Merchants the place giveth the broken Number to all Italy excepting to the Kingdom of Naples to Sicilia Bollonia and Bergamo and to all others 〈◊〉 giveth the whole Number which is either one Ducat or by a 100 Ducats Rome doth exchange with Placentia Ducats 97¾ for 100 Crowns Lions Ducats 97½ 100 Crowns Genoa Ducats 97â…› 100 Crowns of Gold Millan Ducats 97¼ 100 Crowns of Gold Venice Ducats 85â…“ 100 Ducates Florence Ducats 91¾ 100 Crowns Lucca Ducats 84 100 Ducatoons Naples Ducats 100 135 Ducats Lechi Ducats 100 134â…” Ducats Bari Ducats 100 134½ Ducats Palermo Ducat 1 14 15 Tarins Mesina Ducat 1 14 17 Tarins Antw. Col. Ducat 1 125 Grosses London Ducat 1 87½ d. sterling Valentia Ducat 1 24 2 Sol. Saragosa Ducat 1 23 Sol. 8 Deniers Barcellona Ducat 1 23 Sol. 10 Deniers Siv al. Med. Ducat 1 440 Marvedes Lisbon Ducat 1 482 Raies Bollonia Ducats 100 119 Ducatoons Bergamo Ducats 100 119½ Ducatoons Frankford Ducat 1 103 Quarentins Vide how these are calculated Chap. 326. and so following CHAP. CCLXXX Of the Exchanges of Genoua the Metropolis of Liguria The Exchanges of Genoua IN Genoua Exchangers keep their Accounts in Livres Sols and Deniers current and they exchange in Livres Sols and Deniers of Gold The Moneys current is it that is the common in use of which the Crown of Gold is worth Sol. 90. and in times past was worth less The Moneys of Gold are imaginary and valued according as the Fairs of Exchanges permit of which the Crown of Gold is always worth 68 Sol. In the Custom of
Exchanging this place giveth the whole Sum to all excepting Placentis and Lions the which are either one Crown or 100 Crowns the which Crowns are accounted of Gold for all the Places excepting Millan Venice and Germany to which they are accustomed to give the Crown of 4 Livres current Genoua doth exchange with Placentia Sold. 66 of Gold for 1 Crown Lions Sol. 664 of Gold 1 Crown Rome Crown 100 of Gold 98½ Ducats Millan Cro. 1 of 4 Liv. cor 119 Sold Venice Cro. 1 of 4 Liv. cor 7 Liv. 10 Sol. Pico Florence Crown 100 of Gold 106¼ Crowns Lucca Crown 100 of Gold 118 Ducats Naples Crown 1 of Gold 134 Grains Lechi Crown 1 of Gold 135 Grains Bari Crown 1 of Gold 134½ Grains Palermo Crown 1 of Gold 29â…“ Carlins Mesina Crown 1 of Gold 29½ Carlins Antw. Col. Crown 1 of Gold 124 Grosses London Crown 1 of Gold 83 d. sterling Valentia Crown 1 of Gold Sol. 23. 9. Saragosa Crown 1 of Gold Sol. 23. 10. Barcellona Crown 1 of Gold Sol. 23. 8. Siv al. Med. Crown 1 of Gold Marved. 436. Lisbon Crown 1 of Gold Raies 470. Bollonia Crown 101 of Gold Ducat 118½ Bergamo Crown 110 of Gold Ducat 118â…“ Frankford Cro. 1 of 4 Liv. cor Quarentin 92. Vide Chap. 360. how the Exchanges of this place are calculated CHAP. CCLXXXI Of the Exchanges of Millan in Lombardy The Exchanges of Millan IN Millan Exchangers keep their Accounts in Livres Solds and Deniers Imperial and some in Crowns Sols and Deniers of Gold The Moneys current is accounted the Imperial Moneys there is also the Crown of Gold of no settled Price but now worth Sol. 135. The Crown of 6 Livres is it which some do use in Exchange with Genoua The Crown of 117 Sol is in use for the Exchange of Venetia In the Custom of Exchanging this place giveth the broken Number to Placentia Lions and sometimes to Genoua and to all the other the whole Number which is either one or 100 Crowns of Gold excepting only to Venetia which is of Sol. 117 as aforesaid Millan doth exchange with Placentia Sold. 134 for 1 Crown Lions Sold. 135½ 1 Crown Rome Gold Crowns 100 98¼ Ducats Genoua Gold Crown 1 Liv. 4. 10 current Venice Cro. 1 of 117 Sol. 1 Liv. 7. 6. Florence Gold Crowns 100 Crowns 105. Lucca Gold Crowns 100 117 Ducats Naples Gold Crowns 100 133 Ducats Lechi Gold Crowns 100 134 Ducats Bari Gold Crowns 100 133½ Ducats Palermo Gold Crown 1 29¼ Carlins Mesina Gold Crown 1 29â…“ Carlins Antw. Col. Gold Crown 1 124 Grosses London Gold Crown 1 84½ d. sterl Valentia Gold Crown 1 24 Sol. Barcelona Gold Crown 1 23. 9 Sol. Siv al. Med. Gold Crown 1 434 Marvedes Lisbon Gold Crown 1 465 Raies Bollonia Gold Crowns 100 118 Ducatoons Saragosa Gold Crown 1 23. 10 Sol. Bergamo Gold Crowns 100 118 Ducatoons Franckford Gold Crown 1 103 Quarentins Vide Chap. 440. how these are calculated CHAP. CCLXXXIII Of the Exchanges of Venice in the Adriatick Seas The Exchanges of Venice IN Venetia they keep their Accounts in Livres Sols and Deniers of Picol and some in Livres Sols and Deniers gross and others in Ducats and Grosses The Moneys which here is called Picoli is the current Moneys of the place The Moneys which we here call Gross is worth 1 Livre Sol. 62 of Picols or 10 Ducats The Ducat is always worth Livres 6. Sol. 4. of Picol or else accounted 24 Grosses The Gross is worth Sol. 5. 2 d. of Picol and in the Livre of Grosses it is accounted and reckoned as in Deniers In the Custom of Exchanging it giveth the broken Number only to Placentia Lions Genoua Millan and Bollonia and to all the rest the whole Number either by one Ducat or by 100 Ducats Venetia doth exchange with Placentia Ducats 129 for 100 Crowns Lions Ducats 129½ 100 Crowns Rome Ducats 100 77½ Ducats Geno Liv. Pic. Ducats 7. 10 1 Crown of 4 Liv. current Mill. Liv. Pic. 7. 6 5 1 Crown of 117 Sol. Florence Ducats 100 82 Crowns Naples Ducats 100 100 Ducates Lechi Ducats 100 100¼ Ducats Bari Ducats 100 99¼ Ducats Palermo Ducat 1 Tarins 11. 2 Mesina Ducat 1 Tarins 10. 18. Antw. Col. Ducat 1 91 Grosses London Ducat 1 60 d. sterling Valentia Ducat 1 Sol. 7 6. Saragosa Ducat 1 Sol. 17 8. Barcellona Ducat 1 Sol. 17 10. Siv al. Med. Ducat 1 Marvedes 320. Lisbon Ducat 1 Rates 350. Bollonia Ducats 115 Ducatoons 100. Bergamo Ducats 100 Ducatoons 117. Frankford Ducats 100 Florins 127. Lucca Ducats 100 Ducatoons 91. Vide Chap. 368. how these are calculated CHAP. CCLXXXIII Of the Exchanges of Florence the Ducal City of Tuscany The Exchanges of Florence IN Florence the Exchangers keep their Accounts in Livres Solds and Deniers Picoli and Exchange in Crowns Sols and Deniers The Moneys which is here called Picol is the Money current of the place the Crown is always worth Livres 7. Sol. 10. of Picol wherein the Custom of other places is divers in which the Crown of Gold with the current Moneys and here the variety is accorded by the Exchange They use also a Ducat which is worth Livres 7. or else Bolonini 70. In the use of Exchanging it giveth the broken Number to Lions Placentia Genoua Millan and Venice and to all others the entire or whole Number found to be either one Crown or 100 Crowns Florence doth exchange with Placentia Crowns 105 for 100 Crowns Lions Crowns 105½ 100 Crowns Rome Crowns 100 96 Ducats Genoua Crowns 106 100 Crowns of Gold Millan Crowns 106½ 100 Crowns of Gold Venetia Crowns 82½ 100 Ducates Lucca Crowns 100 112 Ducatoons Naples Crowns 100 130 Ducats Lechi Crowns 100 129 Ducats Bari Crowns 100 129¼ Ducats Palermo Crown 1 28½ Carlins Mesina Crown 1 28â…“ Carlins Antw. Col. Crown 1 118 Gross London Crown 1 80 Pence sterl Valentia Crown 1 23 4 Sold. Saragosa Crown 1 23 6 Sol. Barcelona Crown 1 23 2 Sol. Siv al. Med. Crown 1 432 Marvedes Lisbon Crown 1 460 Rais Bollonia Crowns 100 115½ Ducatoons Bergamo Crowns 100 115 Ducatoons Franckford Crown 1 89 Quarentins Vide Chap. 400 how these are calculated CHAP. CCLXXXIV Of the Exchanges of Lucca a Republick in Tuscany The Exchanges of Lucca IN Lucca Exchangers do keep their Accounts in Livres Sol. and Deniers of Picols and do change in Ducatoons Sol. and Deniers the Moneys here called Picols is the current Câ—… of the place The Crown of Gold is always worth Liv. 7. Sol. 10. of Picols as in Florence the Ducatoon is worth 7 Livres of Picol and is commonly called the Crown of Silver In the Custom of Exchanging it giveth the broken Number to Placentia Lions Genous Millan and Venetia and to all other the entire or whole which is one Ducatoon or 100 Ducatoons Lucca doth Exchange with Placentia Ducate 117¼ for 100 Crowns Lions Ducat 118¼ 100 Crowns Rome Ducat 119 100 Duc. Genoa Ducat 118 100 Crowns of Gold
Millan Ducat 118½ 100 Crowns of Gold Venetia Ducat 92 100 Ducates Florence Ducat 113 100 Crowns Naples Ducat 100 114 Ducates Lucca Ducat 100 114â…” Ducates Bary Ducat 100 115 Ducates Palermo Ducat 1 24½ Carlins Mesina Ducat 1 24½ Carlins Antw. Col. Ducat 1 102 Grosses London Ducat 1 67 Pence Sterling Valentia Ducat 1 20 Sol. Saragosa Ducat 1 19. 10 Sol. Barselona Ducat 1 19. 11 Sol. Siv al. Med. Ducat 1 365 Marvedes Lisbon Ducat 1 35 Raies Bollonia Ducat 100 Ducatoons 100¼ Bergamo Ducat 100 Ducatoons 99½ Francfort Ducat 1 85 Quarentins CHAP. CCLXXXV Of the Exchanges of Naples the Metropolis of that Kingdom The Exchanges of Naples IN Naples the Exchangers keep their Accompts in Ducates Tarins Grains and Cavals which are accounted in 5 10 and 12 fol. The Ducate is 5 Tarins or 100 Grains or else 1200 Cavalles the Tarine is accounted 20 Grains or 240 Cavalles and the Grain is 12 Cavalles Besides which there is in use another sort of Monies current which are Carlins Cinquins and Torneses The Carlin is 10 Grains or half a Tarine from whence 10 Carlius malteth the Ducate The Cinque is 2½ Grains of which 4 maketh the Carline and 40 the Ducate The Tornese is 6 Cavalles of which 5 makes a Cinquine 20 makes a Carline 40 the Tarine and 200 the Ducate In the Custom of Exchanging it gives the broken number to all Italy and Lions Palermo only excepted and to all others it giveth the whole number which is either one Ducate or 100 Ducates Naples doth Exchange with Placentia Grains 133 for 1 Crown Rome Ducat 136 100 Duc. Lions Grains 135½ 1 Crown Genoa Grains 135 1 Crown of Gold Millan Duc. 134½ 100 Crowns of Gold Venetia Duc. 100½ 100 Duc. Florence Duc. 131 100 Crowns Lucca Duc. 113½ 100 Ducatoons Lechi Duc. 100 100¼ Ducates Bary Duc. 100 99¼ Ducate Palermo Duc. 1 174 Gra. of 8 Pic. Mesina Duc. 96 of 6 Tar. 100 Ducates Antw. Col. Ducate 1 88 Grosses London Ducate 1 66½ Pence Sterling Valentia Ducate 1 18. 2 Sols Saragosa Ducate 1 18 Sols Barselona Ducate 1 17. 10 Sols Siv al. Med. Ducate 1 330 Marvedes Lisbon Ducate 1 346 Raies Bolonia Duc. 114 100 Ducatoons Bergamo Duc. 100 88 Ducatoons Francfort Duc. 1 76 Quarentins Vide Chap. 342. how these are calculated CHAP. CCLXXXVI Of the Exchanges of Lechy in Calabria The Exchanges of Lechy IN Lechy the Exchangers keep their Accompts and have their Moneys as in Naples the Mepolis of that Kingdom which is in Ducates Tarins Grains and Cavalies accounted in 5 20 and 12 and in Exchanging it differs not much from the Custom of Naples specified in the former Leaf Lechy doth Exchange with Placentia Grains 134 for 1 Crown Lions Grains 136 1 Crown Rome Grains 135 1 Ducate Genoa Grains 135 1 Crown of Gold Millan Grains 134 1 Crown of Gold Venetia Duc. 101½ 100 Ducates Florence Duc. 131 100 Crowns Lucca Duc. 116 100 Ducatoons Naples Duc. 102 100 Ducates Bary Duc. 100 100½ Ducates Palermo Duccate 1 22¼ Carlins Mesina Duccate 1 23 Carlins Antw. Col. Ducate 1 87 Grosses London Ducate 1 61 Pence Sterl Valentia Ducate 1 17. 10 Sols Saragosa Ducate 1 18 Sol. Barselona Ducate 1 18. 1 Sol. Siv al. Med. Ducate 1 328 Marvedies Lisbon Ducate 1 348 Raies Bollonia Grains 115 1 Ducatoon Bergamo Grains 114 1 Ducatoon Francfort Ducate 1 75½ Quarentins CHAP. CCLXXXVII Of the Exchanges of Bary in Puglia The Exchanges of Bary IN Bary their Accompts and Moneys are the same as are in use in Naples mentioned in the former Leaf and the Custom in Exchanging also is near comformable thereto Bary doth Exchange with Placentia Grains 133 for 1 Crown Lions Grains 135 1 Crown Rome Grains 137 1 Ducate Genoa Grains 134 1 Crown of Gold Millan Grains 134½ 1 Crown of Gold Venice Duc 101 100 Ducates Florence Dac 130 100 Crowns Lucca Duc. 115½ 100 Ducatoons Naples Duc. 101½ 100 Ducates Lechi Duc. 100 99½ Ducates Palermo Ducate 1 22â…˜ Carlins Mesina Ducate 1 23 Carlins Antw. Col. Ducate 1 88 Grosses London Ducate 1 62 Pence Sterling Valentia Ducate 1 Sol. 18 Saragosa Ducate 1 Sol. 17. 10 Barselona Ducate 1 Sol. 18. 2 Siv al. Med. Ducate 1 330 Marved. Lisbon Ducate 1 345 Raies Bolonia Grains 114 1 Ducatoon Bergamo Grains 112 1 Ducatoon Francfort Ducate 1 75 Quarentines CHAP. CCLXXXVIII Of the Exchanges of Palermo in Sicilia The Exchanges of Palermo IN Falermo Exchangers keep their Accompts in Ounces Tarins Grains and Pichols the which is successively accounted in 30 20 and 6 and others there be that keep their Accompts in Crown of Monies in Tarins Grains and Pichols and these account it by 12 20 ann 6. The Ounce is 30 Tarins or 600 Grains or 3600 Pichols the Tarin is 20 Grains or 120 Pichols and the Grain is 6 Pichols Besides which there is a Crown in Monies which is 12 Tarins or 2â—0 Grains or 440 Pichols the Ducate is 13 Tarins or else 260 Grains or 1560 Pichols the Florin is 6 Tarins or 120 Grains or 720 Pichols the Carlin is ½ a Tarin or 10 Grains or 60 Pichol In the Custom of Exchanging it giveth the broken number to all Italy and to Lions and to all other places it giveth the whole number which is sometimes one Ducate or one Florin or 1 Ounce or one hundred Ounces Palermo doth Exchange with Placentia Carl. 29â…“ for 1 Crown Lions Carl. 29½ 1 Crown Rome Carl. 29¼ 1 Ducate Genoa Carl. 29½ 1 Crown of Gold Millan Carl. 29â…— 1 Crown of Gold Venetia Carl. 24¼ 1 Ducate Florence Carl. 28 1 Crown Lucca Carl. 25 1 Ducatoon Naples gra di pic 172 1 Ducate Lechy Carl. 23 1 Ducate Bari Tarin 118 1 Ducate Mesina Ounce 100 101½ Ounces Antw Col. Ducate 1 106 Grosses London Ducate 1 73 Pence Sterling Valentia Florin 1 9. 8 Sols Saragosa Florin 1 9. 10 Sol. Barselona Florin 1 Sol. 9. 7 Siv al. Med. Florin 1 185 Marved. Lisbon Florin 1 196 Raies Bolonia Carl. 25 1 Ducatoon Bergamo Carl. 25¼ 1 Ducatoon Frankfort Ducate 1 89 Quarentines Vide Chap. 419. how these are calculated CHAP. CCLXXXIX Of the Exchanges of Mesina in the Fair of Sicilia The Exchanges of Mesina IN Mesina the Accompts are kept and the Monies that are current are the same as in Palermo aforementioned only excepting in the Exchange thereof with Naples it giveth a whole Number which are found to be of 100 Ducates This place and Palermo are accounted to Exchange with Placentia or Lions to give more one Carlin per Ounce by the name of making good the Monies so that he that here is to pay Money by Exchange for the said places must pay 61 Carlins per Ounce Mesina doth Exchange with Placentia Carl. 29¼ for 1 Crown Lions Carl. 29½ 1 Crown Rome Carl. 29â…œ 1 Ducate Genoa Carl. 29½ 1 Crown of Gold Millan Carl. 29½ 1 Crown of Gold Venetia Carl. 22½ 1 Ducate Florence Carl. 28¼ 1
Crown Lucca Carl. 25½ 1 Ducatoon Naples Duc. 100 96½ Duc. of 6 Tarins Lechy Turin 11. 14 1 Ducate Bary Carl. 23½ 1 Ducate Palermo Ounce 100 102 Ounces Antw. Col. Ducate 1 107 Grosses London Ducate 1 72 Pence Sterling Valentia Florin 1 Sol 9. 9 D. Saragosa Florin 1 Sol 9. 10 D. Barselona Florin 1 Sol 9. 8 D. Siv al. Med. Florin 1 190 Marved. Lisbon Florin 1 200 Raies Bollonia Carlins 25¼ 1 Ducatoon Bergamo Carlins 25 1 Ducatoon Francfort Ducate 1 90 Quarentins Vide Chap. 419. how these are calculated CHAP. CCXC. Of the Exchanges of Antwerp in Brabant and Collen in Germany the Lower The Exchanges of Antwerp and Colonia IN both these places the Exchangers keep their Accompts in Livres Sols and Deniers of Grosses so that their Grosses are there accounted as their Deniers or Pefening And in the Custom of the Exchanges of these two places they give the broken number to all other places London only excepted which they give not by the Gross but by the Sol. or Shillings Antwerp and Colonia doth Exchange with Placentia Gross 125 for 1 Crown Lions Gross 128 1 Crown Rome Gross 130 1 Ducate Genoa Gross 129 1 Crown of Gold Millan Gross 127 1 Crown of Gold Venetia Gross 94½ 1 Ducate Florence Gross 112 1 Crown Lucca Gross 104 1 Ducatoon Naples Gross 91 1 Ducate Lecchi Gross 90½ 1 Ducate Bary Gross 91 1 Ducate Palermo Gross 107½ 1 Ducate Mesina Gross 107 1 Ducate London Sold. 34½ 1 Pound Sterling Valentia Gross 107 1 Ducate Saragosa Gross 109 1 Ducate Barselona Gross 112 1 Ducate Siv al. Med. Gross 106¼ 1 Ducate Lisbon Gross 102 1 Ducate Bolonia Gross 104 1 Ducatoon Bergamo Gross 105 1 Ducatoon Francfort Gross 78 1 Floren of 65 quar Vide Chap. 435. how these are calculated CHAP. CCXCI. Of the Exchanges of London the Metropolis of England The Exchanges of London IN London and throughout all England Exchangers keep their Accompts in Pounds Shillings and Pence Sterling and cast it up as in other places by Livres Sols and Deniers by 12 and 20. And in the custom of Exchanging it giveth the Exchange to all places by the broken number of Pence Sterling Antwerp and Colonia only excepted with which two places it Exchangeth by the Pound of Sterling Money above specified London doth Exchange with Placentia Sterl Pence 64 for 1 Crown Lions Pence 64 1 Crown Rome Pence 66 1 Ducate Genoa Pence 65 1 Crown of Gold Milan Pence 64¾ 1 Crown of Gold Venetia Pence 50 1 Duc. in Banco Florence Pence 61 1 Crown Lucca Pence 53½ 1 Ducatoon Naples Pence 50 1 Ducate Lechy Pence 50½ 1 Ducate Bary Pence 51 1 Ducate Palermo Pence 57½ 1 Ducate Mesina Pence 56½ 1 Ducate Antw. Col. Poun Sterl 1 34½ Shill Flem. Valentia Pence 57½ 1 Ducate Saragosa Pence 59 1 Ducate Barselona Pence 64 1 Ducate Siv al. Med. Pence 58½ 1 Ducate Lisbon Pence 53½ 1 Ducate Bolonia Pence 53⅓ 1 Ducatoon Bergamo Pence 52 1 Ducatoon Francfort Pence 59½ 1 Florin Vide Chap. 443. how these are calculated CHAP. CCXCII Of the Exchanges of Valentia the Metropolis of Valentia The Exchanges of Valentia IN Valentia and in all the Kingdoms of Valentia in Spain Merchants do keep their Accompts in Livres Solds and Deniers the current Moneys of the place are Rials and Deniers and Ricls ten are accounted for a Livre so that half a Rial is a Soldo the Ducate is here imaginary and accounted for 10½ Rials and accounted 21 Sols In the custom of Exchanges of this place it giveth the broken number to all Italy Spain and Germany and to all other places the intire number either of one Ducate or 100 Ducates The Castiliano is also here found in use for an imaginary Coin in the ancient custom of Exchanging with Sevil and accounted worth 27 Sol. 4 Deniers Valentia doth Exchange with Placentia Sol. 23. 6 for 1 Crown Lions Sol. 23. 8 1 Crown Rome Sol. 24. 2 1 Ducate Genoa Sol. 23 10 1 Crown of Gold Millan Sol. 23. 9 1 Crown of Gold Venice Sol. 17. 10 1 Ducate Florence Sol. 23. 0 1 Crown Lucca Sol. 20. 2 1 Ducatoon Naples Sol. 18. 0 1 Ducate Lechy Sol. 18. 2 1 Ducate Bary Sol. 18. 1 1 Ducate Palermo Sol. 9. 6 1 Florin Mesina Sol. 9. 7 1 Florin Antw. Col. Ducate 1 106 Grosses London Ducate 1 72½ Pence Sterl Saragosa Ducat 100 102 Ducates Barselona Ducat 100 101½ Ducates Siv al. Med. Sol. 20. 3 1 Ducate Lisbon Ducate 100 100⅓ Ducates Bollonia Sol. 20. 3 1 Ducatoon Bergamo Sol. 20. 4 1 Ducatoon Francfort Sol. 14 1 Florin Vide Chap. 426. how these are calculated CHAP. CCXCIII Of the Exchanges of Saragosa in Catalonia The Exchanges of Saragosa IN Saragosa Merchants keep their Accompts as in Valentia aforementioned and have the same Monies saving that the Ducate passeth here in account for 22 Sols or 11 Rials In the Custom of Exchanging it giveth the broken number to all Italy and to all the rest the whole number which is found to be either one Ducate or 100 Ducates Saragosa doth Exchange with Placentia Sol. 23. 8 for 1 Crown Lions Sol. 23. 11 1 Crown Rome Sol. 24. 3 1 Ducate Genoa Sol. 23. 9 1 Crown of Gold Millan Sol. 23. 8 1 Crown of Gold Venetia Sol. 17. 9 1 Ducate Florence Sol. 22. 10 1 Crown Lucca Sol. 20. 1 1 Ducatoon Naples Sol. 17. 10 1 Ducate Lechi Sol. 18. 1 1 Ducate Bary Sol. 18. 0 1 Ducate Palermo Sol. 9. 8 1 Florin Mesina Sol. 9. 9 1 Florin Antw. Col. Duc. 1 105 Grosses London Duc. 1 73 Pence Sterling Valentia Duc. 100 103 Ducates Barselona Duc. 100 102 Ducates Siv al. Med. Duc. 100 105 Ducates Lisbon Duc. 100 108 Ducates Belonia Sol. 20. 2 1 Ducatoon Bergamo Sol. 20. 1 1 Ducatoon Francfort Duc. 1 95 Quarentins Vide Chap. 426. how these are calculated CHAP. CCXCIV. Of the Exchanges of Barselona the Metropolis of Catalonia The Exchanges of Barselona IN Barselona the use of Accompt keeping and the Monies are the same as is specified in Valentia excepting that the Ducate is here accounted Sol. 24 which is twelve single Rials In the Custom of Exchanging this place giveth the broken number to all other places excepting to Antwerp Colonia London Lisbon and Germany to which it giveth the whole number which is found to be either one Ducate or 100 Ducates Barselona doth Exchange with Placentia Sold. 23. 10 for 1 Crown Lions Sol. 24 1 Crown Rome Sol. 24. 4 1 Ducate Genoa Sol. 24. 2 1 Crown of Gold Milan Sol. 24. 1 1 Crown of Gold Venice Sol. 18. 2 1 Ducate Florence Sol. 23. 0 1 Crown Lucca Sol. 20. 2 1 Ducatoon Naples Sol. 18. 3 1 Ducat Lechy Sol. 18. 2 1 Ducat Bary Sol. 18. 1 1 Ducat Palermo Sol. 9. 10 1 Florin Mesina Sol. 9. 9 1 Florin Antw. Col. Ducate 1 103 Grosses London Ducate 1 72 Pence Sterling Valentia Duc. 103 100
here properly in the general said to be of two distinct kinds the one as appertaining to the State and Prince and belonging to the Profit and Loss of the Kingdom and the other to the Merchant or Exchanger and appertaining to the Profit and Loss of his private Estate and Interest The first I hold proper and fit the knowledge of Counsellors and Statesmen and the other is proper and fit the knowledge of the Trading-Merchant the finding out of both which Pars in Exchanges is thus 1. Princes Par. The first Par in Exchanges which I term here the Prince's Par or the Sovereign's Value for Value is grounded upon the weight fineness and valuation of the Moneys of each several Kingdom City or Place the several Standards thereof so equally proportioned so truly and justly by the Art of the Mint rectified that each Prince his Coin in Exchanges may have its due allowance according to the goodness and fineness coarsness and badness thereof and therefore herein to make and to settle this above-named Par exactly betwixt one Kingdom and another we are to examine and compare not only the weight and fineness of our own Coins as they are in themselves but also the weight and fineness of those of other Princes and Countries with the real proportion that happeneth therein not only between our own Gold and Silver but also between the Gold and Silver of other Countries This examination comparison and proportion duly rightly and really examined compared and proportioned and no difference inequality or disproportion found or admitted therein then may our Exchanges run at one and the same Price and Rate both for Gold and Silver taking the denomination according to the valuation of the Money of each Country and Kingdom hereby finding how much fine Silver or Gold our own Pound sterling containeth and what quantity of other Moneys either of France Italy Germany Netherlands Eastland c. this Kingdom is to have in Exchange to countervail the same in the weight and fineness answerable to our own be it by the Pound Dollar Ducat Crown or any other real or imaginary Coin giving always a Value for Value and receiving the like which by reason of the great Consequence depending thereon I here call the Prince his Par in the Exchanges of his Moneys by Bills of Exchange with other Countries and Kingdoms 2. Merchants Par. The second Par I call the Merchants or Exchangers Par in Bills of Exchange and is grounded partly upon the Sovereign or Prince's Par above-mentioned but principally upon the current value of the said Coins the plenty and scarcity thereof the rising and falling inhansement and debasement of the same and therefore such Merchants as are Exchangers do endeavour by certain Rules of Exchanges to equalize the valuation of the Moneys of one Prince or Country with another And therefore every Man that delivereth his Money in one Country or Place to have it in another is and ought to be ever curious to understand either the Loss or Gain that cometh thereof which is only and properly distinguished by the knowledge and finding out this Par afore-mentioned For finding out of which it is requisite for him that remitteth to know either by his own Advice Judgment or otherwise how much the Crown Dollar Ducat or Pound whence he remitteth is worth in the place whither he would make his remittance unto As for Example having Money in Lions in France which I would remit for Antwerp I ought to know how much the Crown of France is really worth in Antwerp as presuppose that the Crown of France of 67 Sols or 3 l. 7 Sols Turnâ—… is worth by Exchange according to the course thereof 100 Grosses there I would then know what a real Crown of 60 Sols or 3 l. Turnois the Crown wherein Exchanges are made is worth multiplying and dividing as the Rule requireth it it will appear to be Sols 89 â—… 67 Gross which is indeed the true value of the Crown if then the Bill of Exchange be made for less than 89 â—… 67 Gross per Crown of 3 l. Turnois there is a loss thereby and if for more there is a Gain thereby so that it is hereby evident that 89 â—7 67 Gross is the Par in Exchanges between these two Countries in the Crown of France and in the Gross of Antwerp the which Rule may serve as an Example in Remittances for all other places for it is not otherwise to be imagined that any positive Rule can be set down herein considering the diversity of species which as I said before daily riseth and falleth and the Price of the Exchanges which every day according to presenting occasions likewise altereth found to be sometimes at one Rate and sometimes at another And this Par is the matter whereupon all Merchants Exchanges for Profit and Loss is grounded and is the Par or Value for Value which in this following Tract I principally and fundamentally aim at Now the last thing considerable in this place and now to be observed is the method form and manner how the Accounts of these divers Exchanges from one Country to another is between one Merchant and another cast up and calculated which indeed principally is the work of the Pen and Hand of the Aâ—ithmetician which as a necessary adjunct and needful furtherance to the mystery of Exchanging I have hereto inserted and have herein pitched upon the principal places here mentioned willingly omitted the least and rest of them having fitted to such as I have conceived the most worthy apt Questions and their Solutions from one Town or City to another with the denomination of their several Accounts and Species the manner of the brief calculations thereof and the short proof of each prescribed Rule and Position adding for conclusion to each general City of Exchanges some Examples of Orders and Commissions given and received in Draughts and Remittances made according to the common Custom and use of the place omitting some other principal Points wherein I might have enlarged both this Matter and Subject that the ingedious Head and Hand of the Learner may have room and scope to work upon according either to his Desire Capacity or Inclination CHAP CCCIII. Of Examples upon the Exchanges practised at Lions and how the the same are calculated Examples upon Exchanges in Lions I Have formerly noted that the payments of Bills of Exchanges at Lions is only in use four times a year which are first 1. The payment of Roys beginneth the 6th of March after their Stile and continueth the rest of that Month. 2. The payments of Pasques or Easter the 6th of June 4. The payments of August the 6th of September 4. The payments of All-Saints the 6th of December The Custom of acceptation of Bills of Exchange in Lions The Acceptance of all Bills of Exchange here is always made the first day of the Month of each payment which Acceptances hold in themselves both a promise and
assurance of the payment of the Sum included in the said Bills so accepted And because there is no other time accustomed wherein Bills of Exchange are accepted the Merchants here resident have invented by means of a little Book a way of registring their several Bills which they commonly call in French a Bilan A Bilan in which Book or Bilan they accustomarily use to make a little Cross or Mark upon each Bill there registred and thus orderly accepted But if the Party to whom the same is presented make a Question whether he shall accept it or not and demandeth time to think upon it then they place upon that Bill so there registred the letter V. signifying in French Voir la lettre or the Bill seen or if in conclusion he refuse the same either because he holdeth not the Party that chargeth the same sufficient or solvent or for any other just occasion they commonly note the same in their Bilan with S and P signifying that the same is Soubs Protest that is under Protest The which Bilan of Acceptations Draughts and Remittances thus quoted and thus registred I observed at my residence in that City to carry so much Credit amongst the Merchants of the place as if the same had been done with Witnesses by a Publick Notary The price setled for the succeeding Fairs The third day of the Month of the said payments the price of the said Exchange is cut and settled as well for the succeeding course of Lions it self as for all the principal exchanging places of Christendom in all which it is found that Lions gives the Law and Rule ordering in some sort the price of all other places excepting for Placentia Discounters or transferring of Bills of Exchange and Debts in Lions The sixth day all the Merchants residing upon the place appear in certain publick Rooms near the Burse or place of daily meeting with their Book or Bilan containing both their Debit and Credit of both Debts and Bills of Exchanges and there address themselves to one another and to whom they are indebted intimating unto them to transfer Parcels or as they term it Vâ—…er partie and give for Debtor one or more who doth owe and stands indebted unto them the like Sum or Parcel the which being accepted by the Creditors the Sum is respectively registred and noted in the Bilan abovesaid and after that time that Parcel is understood to be transferr'd and remaineth entirely upon the Risgoe peril and fortune of the Party that did accept the same And in this manner here I have observed a Million of Crowns hath in a morning been paid and satisfied without the disbursement of a Denier in Money and therefore to this purpose all Merchants resident here or their Servants for them are compelled in this manner to appear with their Bilan thus to satisfie Accounts with their Creditors and make good their payments or in default of this appearance are by the Custom of the place declared as Bankrupts and this in brief is the remarkable Custom of Lions in matters of Exchanges upon every payment Rules of casting up the Exchanges in Lions It now remaineth I should shew the Rules how the Exchanges are made in this place for at every payment the current Moneys of the place are found increasing or decreasing being sometimes worth from one payment to another 2 per Cent. or 2¼ more or less to understand then there Rules I will first lay down some Examples for the help of those that are not well acquainted with the Custom of this City Presuppose that a Merchant hath taken in Banco 455 Livres at 2½ per Cent. from the payments of Roys as they call it or Kings until the payment of Pasques or Easter and to know what the Exchange may amount unto at the rate abovesaid do this briefly the ½ of the said At 2½ per Cent. 455 l. is first to be taken and the ¼ of the said tenth shall be the Exchange forasmuch as the tenth of an hundred is ten and the ¼ of ten is 2½ which is the Exchange aforementioned and therefore ¼ of the tenth is to be taken as for Example At 2 â— 3. Again a Debtor oweth unto his Creditor l. 3141. 16 s. 6 d. to pay at the rate of 2â…“ per Cent. for Exchange the which most facile and briefly is thus performed Take the 1 1â— of the said Sum and of the proceed ½ and of the ½ the â— 3 adding the said fifth to the â…” And thus the value of the Exchange is found out as here followeth The reason of this brevity is that if from 100 one taketh as is before said â…• of 1 10 and â…“ of the said â…• the product of the said â— 5 with the â…“ gives just 2â…” as is above specified Again at 2 â— 4 per Cent. how much amounteth the Exchange of l. 842. 17. 6. you must here take â— 3 of a 1 10 and a â— 10 of the said adding the two last products the Exchange will appear as At 2â…“ Again a Debtor oweth to his Creditor l. 1435. 17. 8 d. to be paid at the rate of 2½ per Cent. for the Exchange To do this take the 1 10 parts of the said Sum and of his Product â…• and of the ½ the â…› adding the said â…• to the said â…› and the Exchange will appear At 2¼ Again at 2¼ per Cent. what will the Exchange of 7661 l. 17 Sols amount unto To do which the â…• of 1 10 and the â…› of the said â…• is to be taken adding the â…• and the â…› and it giveth the Exchange At 3 per Cent. Again at 3 per Cent. I would know the Exchange of 7000 l. herein take ¼ of 1 10 and â…• of the said ¼ adding the two last products it giveth the Exchange as for Example At 2½ Also presuppose that a Merchant hath sold some Goods for the value of 5312 l. 10 s. at a years time conditionally to have the allowance of 2½ per Cent. for every payment what ought the Buyer to give the Seller at the said term In this case consider that 2½ per Cent. for a payment is 10 per Cent. for the year and therefore the 1 10 is to be taken and to be added to the Total and it giveth l. 5843. 15. But I have stayed upon this Point too long and therefore will omit further Examples and will only insert a brief method of these forms of Exchanges in this place because the ingenious may make it serve his occasions in any Country where Moneys are either given or taken at Interest serving as compendious Tables for casting up of any Exchange here or of Interest elsewhere for any space and term of time whatsoever and fitly serveth as a necessary introduction to what I shall here further insert as concerning the Exchanges made by Lions for other Countries CHAP. CCCIV. Brief Rates of Exchanges in Lions which may serve for the
whatsoever Accounts kept in Lions and there likewise it is observed how the Merchants Exchangers do keep their accounts which for the most part is in Livers Tournois Sols and Deniers 12 Deniers making a Sol and 20 Sols a Liver and yet some there be that keep their accounts in Crowns of Exchange called Crowns of the Sun and is as the Liver distinguished into Sols and Deniers of Gold accounted by 12 and 20 as the former this Crown being accounted worth 3 Livers upon which the Exchange of the place is made and marked with Crowns Livers Sols and Deniers the question then upon the Exchange of Lions with Rome is thus 100 Crowns of Gold of 3 l. is given in Lions to have in Rome 85 Crowns of Gold Estampe or de Camera more or less as the Exchange passeth I demand for Crowns 4520. 12. 6 d. of Gold of the Sun how many Crowns of Estampe shall Lions have at Rome To know which you must multiply the said Crowns of the Sun by 85 and from the Product cut the two last figures the which must multiply by 20 to make them Sols and then by 12 to make them Deniers which will come to be 3842. 10. 7 of Gold of Estampe which Lions ought to have in Rome for the said sum of Crowns of Gold which this calculation following maketh more apparent Example Proof The proof of the said account will appear in the same question propounded where Rome Exchangeth at the same terms with Lions CHAP. CCCIX Of the Exchanges of Lions with Florence Exchanges of Lions with Florence LIms Exchangeth with Florence and giveth 100 Crowns to have in the said place 954 Crowns of Gold more or less I demand for Crowns 1324. 15. 0 of Gold of the Sun how many Crowns of Gold I shall have in Florence to know which I multiply the said Crowns of Gold by 95¾ in cutting the two last figures of the Product as I did in the precedent account the which are to be multiplied by 20 and 12 to make the same Sols and Deniers and I find I must have in Florence Crowns 1268. 8. 11 of Gold for the said Crowns of the Sun as in the following Example Proof Facit Crowns 1268 8 11 which shall appear when Florence Exchangeth with Lions CHAP. CCCX Of the Exchange of Lions with Lucca Exchanges of Lions with Lucca LIons Exchangeth with Lucca and taketh Crowns 100 to pay in Lucca posito 103â…™ of Livers 7½ the Crown I demand for Crowns 1234 5 6 of Gold of the Sun how much must I pay in the said City of Lucca To know which I multiply the said sum of Crowns of the Sun by Crowns 103â…™ and from its Product cut off the two last figures the which I multiply by 20 to come to Sols and then by 12 to come to Deniers and it will make Crowns 1273 7 2 which I must pay in the said place of Lucca Example Payment made in Mony Note that if in Lions it be paid in mony there is one per cent given more so that receiving in the said place of Lucca the said Crowns 1273 7 2 in mony of the said place the Debtâ—… shall be bound to pay more Crowns 12. 14 8 which is in all Crowns 1286 1 10 as for Example thus cast up The proof of the said Exchange you shall find in the account when Lucca doth Exchange with Lions made by the Rule of Three saying If Crowns 103â…™ give 100 how many shall the abovesaid 1273 7 2 d. give which will be Crowns 1234 5 6. of Gold of the Sun CHAP. CCCXI. Of the Exchanges of Lions with Naples Exchanges of Lions with Naples LIons Exchanges with Naples and giveth Crowns 100 of the Sun to have in that place Duc. 127½ more or less of Taries 5 per Ducate I would know for Crowns 2584. 9. 6. of Gold of the Sun how much Lions shall have credit for in Naples The which to do you must multiply the said sum of Crowns by the said 127½ Duc. cutting the two last figures of the Product the which must be multiplied by 5 to make them Taries and then by 20 to make them Grains because that the Ducate is worth 5 Taries and the Tarie 20 Grains so that it will give in Naples Duc 3295 Tarie 1. The proof of the said Rule shall appear in the Exchange of Naples with Lions CHAP. CCCXII Of the Exchanges of Lions with Palermo or Mesina Exchanges of Lions with Palermo and Mesina LIons exchangeth for Palermo or Messina and giveth 1 Crown of Gold of the Sun to have in the said place posito 38 Carlins I would know for Crowns 4692. 11. 3. of the Sun how many Ounces shall Lions have credit in Palermo or Messina first multiply the said Crown of the Sun by the said 38 Carlins the value of the Crown and taking the rest of the multiplication for parts of 10 because the Carlin is worth 10 Grains and the product shall be Carlins and Grains to make the which Ounces you must take â…™ in cutting the last figure because that 60 Carlins make an Ounce and of that which resteth cut off add with the last figure you must take ½ to make Taries one whereof being 2 Carlins and 30 worth one Ounce and if you find a rest of the said Taries you must take ½ which is 10 Grains because that one Tary is worth 10 Grains and ½ of 20 which is 10 to the which must be added the resting Grains if any be so that the said sum of Carlins will make Ounces 2189 Tar. 25 Grains 17 and so many Ounces will Palermo or Messina give and over and above the said sum of Ounces one Carlin per Ounce is given for to make it good mony and to add the said Carlin per Ounce in the shortest way it is to be considered that for the said Ounces 2189 is given the same sum of Carlins for the Laggio of the monies as they term it which reduced into Ounces cutting the last figure and taking â…™ of the rest as hath been said before will give Ounces 36. resting two 〈◊〉 of Carlins which is twenty to which must be added the last figure cut off and it will be 29 Carlins which is 14 Taries and there will rest 1 Carlin which is 10 Grains to which must be added 8 Grains for 25 Taries which are with the Ounces seeing that for 3 Taries cometh one Grain for Laggio of the said mony and they will be Ounces 2226. 10. 15. and so much will the credit of Lions be in Palermo and because that the said Carlin per Ounce comes to 1â…“ per cent the account may be made in taking 〈◊〉 per cent of the said sum of Ounces and it will make the same sum as Example Proof The proof of the said account shall appear in the Exchange of Palermo and Mesina back to Lions CHAP. CCCXIII. Of the Exchanges of Lions with Genoa Exchanges
of Lions with Genoa LIons exchangeth with Genoa and giveth one Crown of the Sun have in that place positâ— of mony in Gold 59 s. 9 d. I demand for Cro. 9432. 9 of the Sun how much credit shall Lions have in Genoa in current mony To do which first multiply the said Crown of the Sun by Sol. 59. 9 d. and it maketh Sol. 563588. 10 d. which reduced into Livers makes Lib. 28179. 8. 10 Mâ—ny of Gold which divided by 68 Sol which is the price of a Crown of Gold in mony of Gold and that which resteth of the division you must multiply by 20 to make them Sols of Gold and then by 12 to make them Deniers and they will be Crowns 8288. 1. 5 of Gold the which multiply by 4½ which is the price at present of the Crown of Gold in current mony and of its prodâ—ct will come Lib. 37296. 6. 4 of mony current and so much credit shall Lions have in Genoa for the said Crown 9432. 9. of the Sun And you must note That the Livers of the mony of Gold cannâ—e be reduced into current mony unless first it be reduced to Crowns of Exchange Proof The proof of this Rule is seen when that Genoa doth Exchange for Lions CHAP. CCCXIV Of the Exchanges of Lions with Millan Exchanges of Lions with Millan LIONS Exchangeth with Millan and giveth a Crown of the Sun to have in Millan posito 118â…“ s. I would know how many Livers makes Crowns 1564. 15. 6. of Gold of the Sun in Millaâ—t To do which you must multiply the said sum of Crowns by 5 l. 18. 4. which are the Sols 118â— beginning to multiply the l 5 by the 6 Den. and then by the 15 which are with the Crown of the Sun the proceed of the multiplication shall be l. 9258. 5. which shall be had in Millan for the said Crown of the Sun as for Example Proof The proof of the said account shall be manifest in the Example of Millan with Lions CHAP. CCCXV. Of the Exchange of Lions with Venetia Exchanges of Lions with Venetia LIONS Exchangeth with Venice and giveth 100 Crowns of Gold to have their Dâ—cates posito 119â…” of Livers 6â…™ per Ducat I demand for Crowns 3549. 10. of the Sun how much credit shall Lions have in Venice To know which multiply the said sum of Crowns by the said 119â— Ducats and the remainder produced by the said multiplication shall be divided by 24 because that the Ducat is worth 24 Gross and out of that product cut the two last figures the which being multiplied by 24 to make them Grosses they will make Dacâ—t 48 38 1 12 which Lions shall have credit in Venice for the said Crowns of the Sun as Example Facit 4238 Ducat 2 Gross And the proof of this account shall be manifested by Example Proof in the Exchanges of Venetia back for Lion CHAP. CCCXVI. Of the Exchanges of Lions with Bolonia Exchanges of Lions with Bolonia LIONS Exchangeth with Bolonia and giveth 100 Crowns of the Sun to have in Bolonia Crowns 113 of Livers 4¾ per Crown I demand then for Crowns 3879. 13. 4. of the Sun how much credit shall Lions have in Bolonia To do which multiply the said Crowns of the Sun by 113 and from the product cut the two last figures then multiply them by 20. and 12. to make them Sols and Deniers and it will come to Crowns 4282. 6. 5. in Bolonia the which you must bring into Livers by multiplying them by l. 4. 15. which is the value of the Crown in Bolonia and they make l. 20341. 0. 5. which Lions shall have credit for in Bolonia The proof hereof serveth to know how to make the account when Bolonia exchangeth for Lions and is done by the Rule of 3 saying If Crowns 213 give 100 Crowns how many shall 4282 Crowns 5. s. 6 d. give CHAP. CCCXVII Of the Exchanges of Lions with Placentia Exchanges of Lions with Placentia LIONS Exchangeth with Placentia and giveth 119â…” posito Crowns of the Sun to have in Placentia Crowns 100 of Marc. I demand for Crowns 3489. 15 of Gold of the Sun how many Crowns shall be due to me in Placentia To find which I say by the Rule of three If Crowas 119â…” give 100 Crowns of Marc. how many will Crowns 3489. 15. give the product of which Rule giveth Crowns 2916. 4. 6. d. of Marc. and so much shall be due to me in the said place of Placentia for the said sum of Crowns of the Sun for example The proof of this rule is seen when that Placentia shall exchange with Lions CHAP. CCCXVIII Of the Exchanges of Lions with Antwerp Exchanges of Lions with Antwerp LIONS Exchangeth with Antwerp and giveth one Crown of the Sun to have in Antwerp posito 121â…“ Gross I demand then how many Livers of Grosses I shall have there for Cro. 6895. 11. 3. To do which I multiply the said sum by the said 121â…“ Gross and it giveth Grosses 836661 out of which take 1 12 to make them Sols and they make Sols 69721. 9. which to make into Livers you must cut the two last figures and take the ½ of the others and it will come to l. 3486. 1. 9. of Grosses which I should have in the said place of Antwerp for the above-mentioned sum of Crowns of the Sun as by Example Proof The proof of the said account will appear when that Antwerp exchangeth with Lions and therein is to be noted that in the manner of the Exchange that Lions maketh with Antwerp the Calculation will serve in the same manner with Colonia because the same Moneys are used in Exchanges in the said City of Colonia as in Antwerp and the same also is in use in Amsterdam and throughout the Netherlands CHAP. CCCXIX. Of the Exchanges of Lions with London Exchanges of Lions with London LIons exchangeth with London and giveth a Crown of the Sun to have in London posito Pence sterling 58 I then demand for Crowns 7693. 10. 0. Crowns of the Sun how many Liens of Pounds sterling shall I have in London working the same as in the precedent Rule and accounâ— from Lions to Antwerp and it will make sterling Pounds 1859. 5. 3. d. And so much Credit shall the same give me in London as shall appear by Example following Proof The proof of this account shall appear when I come to the Exchanges of London with this place of Lions Paris Rouen Here also is to be noted That the account is calculated in the same manner when either Pâ—ris Rouen or any other part of France doth exchange for the City of London or for any other City in England CHAP. CCCXX Of the Exchange of Lions with Francfort Exchanges of Lions with Francfort LIons exchangeth with Francfort and giveth a Crown of the Sun to have in the said place Quarentines posito 95¼ I demand for 1500 Crowns of
the Sun how many Florins shall Lions have in Francfort to do which multiply the said Crowns of the Sun by 95¾ and it maketh Quarendines 143625 to reduce which into Florins you must cut off the two last figures and then take â…™ of the others or else divide them by 60 because that 60 Quarentines make a Florin and it givet 〈◊〉 Florins 2393 and 4 overplus which is to be understood for 40 and with the figure cut off makes 45 of which â…“ is to be taken to make Sols because that 3 Quarentines is a Sol and then it makes Florins 2393. Sol. 15. which Lions ought to have Credit for in Francfort Proof Desiring for proof the said account to exchange from Francfort to Lions the said Florins 2393. 15. at Quarent 95¾ per Crown I first put the said Florins into Quarentines multiplying them by 60 and they will be Quarentines 143625 which divided by 95¾ makes just Crowns 1500 of the Sun as abovesaid Note also that in Francfort is only accounted two Fairs the first in Mid-Lent and the other in Mid-September and if the Remittance be out of the Fair you may stay for the said Fair and the Money must stay half a Year which is here two Fairs in satisfaction whereof is sometimes made good 6 sometimes 7 per cent as Merchants can agree more or less Note also that when Lions is found to exchange with Norimberg the account thereof is made as above is said with Francfort CHAP. CCCXXI. Of the Exchange of Lions with Sevil. Exchanges of Lions with Sevil LIons exchangeth with Sevil and giveth Crowns 1 of the Sun to have in the said place posâ—… 396 Marvedes I demand then what Credit I shall have in Sevil for Crowns 6792 16 6 d. delivered in Lions at the said price To do which multiply the said Crowns by 396 and they will make Marvedes 2689958 to which must be added ½ per cent for the Lagiâ— of the money which is 5 per 1000 and then they will make Marvedes 2703407 and so much shall Lions have Credit in Sevil as in Example Alcala Note that when Lions doth exchange with Alcala the account is made as the precedeâ—t with Sevil and that the proof of the said calculation is found true by the Exchange of Sevil or Alcala with Lions CHAP. CCCXXII Of the Exchanges of Lions with Lisbon Exchanges of Lions with Lisbon LIons exchangeth with Lisbon and giveth 1 Crown of the Sun to have their posito 528 Raes I demand then for Crowns 7893. 4. 6. of the Sun how many Raes Lions shall have Credit in the said place of Lisbon and to know which I multiply the said Crowns by 528 and find that it giveth in Raes 4167622 which Lions shall have Credit in Lisbon as for Example Proof The proof of this Rule is manifested when that Lisbon shall exchange with Lions CHAP. CCCXXIII Of the Exchanges of Lions with Barselona Exchanges of Lions with Barselona LIons exchangeth with Barselona and giveth one Crown of the Sun to have in the said place posito 22. 8. Sols I demand for 7822. 12. 6. Crowns of the Sun which Lions doth remit to Barselona how many Livers shall I have To do which you must multiply the abovesaid sum of Crowns by l. 1. 2. 8. which is 22. 8 d. beginning to multiply by the Deniers and then by the Sols which are annexed to the Crowns and the sum will come to 8865. 12. 10. which you shall have in Barselona for the said sum of Crowns of the Sun For Example Proof The proof of the said account will appear when Barselona exchangeth back with Lions Valentia and Saragosa It will not be needful I should propound here any Examples when Lions exchangeth with Valentia and Saragosa seeing that the account is the same as with Barselona abovesaid and this is as much as I conceive requisite concerning the Exchanges of Lions with other places to which I could add sundry Remittances and Draughts in Exchange hence made to other places with other such circumstances but here being matter enough set down to exercise the Pen and Head of the Ingenious and of him that will study the Art and Mystery of the Exchanges of this place I will only add a word of the Orders and Commissions given and received here in Exchanges and an Example for Explanation thereof and leave the rest to the consideration of the studious CHAP. CCCXXIV Of Orders and Commissions given and received for Draughts and Remittances by Exchanges in Lions Of Orders and Commissions given and received for Draughts and Remittances in Lions BEfore I enter this vast subject of Orders and Commissions I will briefly shew how the accounts of these Orders and Commissions are made being only given by the expert and subtle beads of Bankers and Exchangers conversant in the course of Exchanging which sorts of Commission or Orders are wrought partly by the Rule of Three Direct and partly by the same Rule backward and the better to distinguish those that are made Direct and those that are made backward it is requisite that the course and manner of Exchanging from one place to another be precisely known and learned and how that place to which the Commission is sent and given draw or remit either by a certain or uncertain rate and such Commissions ought to be made by the Rule of Three backward taking one of the prices which are found for Divisor and the other two which are the order'd prices take for the sum to divide by and it is to be noted that the first price which is taken for Divisor be of the same place as the last and to know wherein what is meant by this word certain and incertain I shall now declare it Certain price in Exchanges A Certain Exchange is no other than to give a settled price which varieth not in Exchanging and hath no change or alteration as it is seen in Lions or in Placentia which gives always Crowns 100 or Crown 1 to have in Naples Ducats 130 more or less and this 100 Crowns or 1 Crown is never found to alter and therefore term'd by Exchangers to be the certain price Incertain price in â—…changes Incertain Exchanges is a price that is observed unconstant and which admits of variation which shall be when the place which exchangeth giveth a number of Crowns Ducats or Sols or of any other money which cometh not to the just sum of 100 or else exceedeth the same and therefore the same not being firm and stable are named incertain Exchanges as subject to alteration sometimes more or sometimes less which is rightly and well to be considered and understood in Orders and Commissions of Exchanges given When the place then wherein the Commission is to be effected giveth to the places whereto it ought to remit and draw to both of them the Incertain the account must be made by the Rule of Three Forward or
govern which every day is observed to alter that no set Rule can be Peremptorily laid down for the same yet is in it self so beneficial that thereby the ignorant may make his calculation either in his Draughts or Remittances the way of making which account now remaineth to be handled observing the same with so many other places as may be fit to understand the ground thereof It is also there noted for the understanding of what is to follow That Bankers and Exchangers in Rome do keep their accounts in Crowns of Stampe or Camera Sols and Deniers of Gold named of the Eight Stampe which are numbered by 20 and 12 because that 20 Sols of Gold makes a Crown and 12 Deniers a Sol. The Crown of Stampe being worth 12 Julio's The Crown in Money worth 10 And the Julioâ— worth 10 Baio's CHAP. CCCXXVII Of the Exchanges of Rome with Lions Exchanges of Rome with Lions FIrst then Rome exchangeth with Lions and giveth Cro. 85 of Gold of the Eight Stampe to have in the said City of Lions Crowns 100 of the Sun I demand for Crowns 3842. 10. 7. of Estampe how many Crowns of the Sun shall Rome have in Lions To know which you must say by the Rule of Three If Crowns 85 give 100 Crowns of the Sun how much will 3842. 10. 7. Crowns give and it will come to Crowns 4520. and the Remainder of the Divident multiply by 20 and by 12 to make Sols and Deniers of Gold and it will be Crowns 4520. 12. 5. of the Sâ—… that Rome ought to have in Lions for the said sum as may be seen by the following Example Proof The proof of this account is seen when Lions doth exchange with Rome CHAP CCCXXVIII Of the Exchange of Rome with Placentia Exchanges of Rome with Placentia ROme exchangeth with Placentia and giveth posito 99¼ Crowns of Gold of Estampe to have here Crowns 100 of Marc. I demand for Crowns 1382. 5. 8. of Estampe how many Crowns of Marc. Placentia shall have You must reduce the price and the sum of Crowns into Deniers multiplying the same by 20 and by 12 and adding 15 for the ¼ of a Crown then say by the Rule of Three if the Deniers come of the said price give Crowns 100 of Marc. how many will the Deniers come of the said sum of Crowns give and multiplying the remainder of the division by 20 and by 12 to make them Sols and Deniers of Gold in doing which they will amount to Crowns 1385. 14. 11. of Marc. which must be had in the said place of Placentia for the said sum of Crowns of Estampe as may be seen by the following Example Proof The proof of this account is seen when Placentia doth exchange with Rome CHAP. CCCXXIX Of the Exchange of Rome with Florence Exchanges of Rome with Florence ROme exchangeth with Florence and giveth posito Crowns 92¼ of Gold of Estampe to have in this place 100 Crowns of Gold I demand for Crowns 1476. 2. 3. of Estampe what Credit shall Rome have in the said Florence To know which you must reduce as afore is said the price and the sum of Crowns into Deniers of Gold multiplying by 20 and by 12 and adding 5 Sol for the ¼ Crown then say by the Rule of Three If the Deniers come of the said price give Crowns 100 of Gold how many will the Deniers of the abovesaid sum of Crowns give and multiplying the remainder of the division by 20 and by 12 to have Sols and Deniers of Gold it will appear to come to Crowns 1600. 5. 2. of Gold and so much Credit must Rome have in Florence As for Example Proof The proof of this account is seen when as Florence doth exchange with Rome CHAP. CCCXXX Of the Exchange of Rome with Venetia Exchanges of Rome with Venice ROme exchangeth with Venice and giveth Crowns 73½ posito of Estampe to have in that place Ducats 100 de Banco of Livers 6â…• per Ducat I demand for Crowns 850. 15. 8. of Estampe what Credit in Banco shall I have at Venice To do which I must reduce as in the precedent accounts the price and the sum of Crowns into Deniers of Gold multiplying the same by 20 and by 12 and add 10 Sols for the ½ Crown and then say by The Rule of Three If the Deniers come of the price give Ducats 100 how many will the Deniers give me that come of the abovesaid sum of Crowns and multiplying the remainder of the Division by 24 to bring them into Gross because that 24 Grosses are worth in the said City of Venice 1 Ducat of l. 6â…• then it will make Ducats 1157½ which Rome hath Credit at Venice as for Example Proof The proof of this account may be discerned when as Venetia doth exchange with Rome back CHAP. CCCXXXXI Of the Exchanges of Rome with Millan Exchanges of Rome with Millan ROme exchangeth with Millan and giveth posito Crown 87â…˜ of Estampe to have in that place Crowns 100 of Livers 5. Sol. 17 per Crown I demand for Crowns 2140. 16 of Estampe how many Livers of Millan shall I have First reduce the price and the Crowns into Sols of Gold multiplying them by 20 and to the multiplication add 16 Sol. â…˜ of a Crown and then say by the Rule of Three If the Sols coming of the price give Crowns 100 how many will the Sols coming of the abovesaid sum of Crowns give and multiplying the remainder of the Division by 20 and by 12 to make them Sols and Deniers of Gold they will make Crowns 2438. 5. 4 d. the which you must reduce into Livers by multiplying them by l. 5. 17. and they will make l. 14263. 17. 2 d. which I must have at Millan for the said sum of Crowns of Estampe as appeareth plainly by this Example Proof The proof of this Rule is apparent when Millan shall exchange with Rome CHAP. CCCXXXII Of the Exchanges of Rome with Naples Exchanges of Rome with Naples Rome Exchangeth with Naples and giveth Crowns 100 of Gold of Estampe to have in that place posito Ducates 135â…” I demand for Crowns 2346. 15. 4 of Estampe how many Ducates shall I have To do which you must multiply the said sum of Crowns by Grains 135â…” per Crown seeing it is the same grains 135â…” per Crown as in Ducates 135â…” per cent because the Ducate is worth in Naples grains 100 and of the product will come Grains 318377 off the which you must cut the two last figures to make them Ducates and then it maketh Ducates 3183 Taries 3 Grains 17 and these Taries and Grains make Grains 77 because that the Tarie is worth Grains 20 and so much you are to have in Naples for the said Crow of Estamp as appears by this Example following Proof The proof of the said account is seen when Naples doth exchange this sum back with Rome CHAP. CCCXXXIII Of the
Exchanges of Rome with Genoa Exchanges of Rome with Genoa ROme exchangeth with Genoa and giveth posito Crowns 101 of Gold of Estampe to have iâ— the said place Crowns 100 of Gold of Italy I demand for Crowns 4000. 10. of Gold of Estampe what Credit shall Rome have at Genoa You must first reduce the said Crowns of Estampe into Crowns of Gold of Italy at the rate of Crowns 100 of Estampe for Crowns 102½ of Gold and therefore you must multiply by 102½ in cutting the two last figures the which you must multiply by 20 and by 12 and they will make Crowns 4100. 10. 3. of Gold of Italy then say by the Rule of Three If 101 Cro. give 100 Crowns what shall 4100 Crowns 10. 3 give And it will come to Crowns 4059. 18. 3 of Gold in Gold of Italy and for to reduce them into Livers you must multiply them by Livers 4 3 2 the value of a Crown of Gold and in so doing it will come to l. 18269. 12. 1 current money that Rome shall have Credit in Genoa for the said Crowes of Estampe as for Example Proof The proof of the said rule is more apparently demonstrated when Genoa doth Exchange this parcel back with Rome CHAP. CCCXXXIV Of the Exchanges of Rome with Palermo or Mesina Exchanges of Rome with Paelermo and Mesina ROme Exchangeth with Palermo or Mesina and giveth 1 Crown of Gold of Estampe to have in one of the two said places posito Carl. 29â…• I would know then for Crowns 4000. 10. 6 what Credit in Ounces shall Rome have in Palermo or Mesina To do which you must multiply the said Crowns by 29â…“ and the Product will be Carlins 117348. 7. 2. the which must be reduced into Ounces by cutting the last sigure and by taking the â…™ of the rest and the 48 remaining are Caâ—lins of which take the ½ and they shall be Taries and in this working it will make Ounces 1955 Taries 24 Grains 7 and Picolies 2 which Rome must have Credit for in one of the aforesaid places for the above-mentioned Crowns of Estempe as is apparent by the following Example Proof The proof of this account is seen when Palermo or Mesina shall exchange back with Rome CHAP. CCCXXXV Of the Exchanges of Rome with Antwerp Exchanges of Rome with Antwerp ROme Exchangeth with Antwerp and giveth one Crown to have in the said City of Antwerp posito 114 gross I demand then for Crowns 2000. 17. 8 how many pounds in gross or gresses shall Rome have Credit in Antwerp To do this you must multiply the said sum of Crowns by 114 and of the Product will come grosses 228100 the which reduced into Pounds Flemish will make l. 950. 8. 4. and for so much shall Rome have Credit in the said City of Antwerp as for Example Proof The Proof of this account is demonstrated when this parcel is Exchanged back from Antwerp to Rome And Note That when Rome shall Exchange with Frankfort Amsterdam or any other part of the Netherlands the account is made as in the abovesaid manner of Rome with Antwerp CHAP. CCCXXXVI Of the Exchanges of Rome with London Exchanges of Rome with London ROme Exchangeth with London and giveth one Crown there to have in the said City posito 65 pence sterling I demand then for Crowns 4000. 14. 8. of Estamp how many pouads sterling shall Rome have Credit in London which must be wrought as in the precedent account of Rome with Antwerp and it will be found that it will amount unto 1083. 10. 8. den which lought to have in the said City of London for the said sum of Crowns of Estamp as may appear by the Example following Proof The Proof of this Rule will more evidently appear when the sum of 1083 l. 10 s. 8¼ den Sterl is remitted from London to Rome which I hope is not in these days used in England CHAP. CCCXXXVII Of the Exchanges of Rome with the Cities of Valentia Saragosa or Barselona Exchanges of Rome with Valentia Saragosa and Barcelona ROme doth exchange with Valentia Saragosa and Barselona and giveth 1 Crown of Estamâ—… to have in one of the said places Sols posito 25. den 6. I demand then for Crowns 6000 14. 4. of Estampe what Credit shall Rome have in one of the said places To know which you must multiply the said sum of Crowns of Estampe by l. 1. 5. 6. and they will make l. 7650. 18. 3 d. which Rome shall have in Credit in one of the said places for the said sum of Crowns of Estampe as shall appear by this Example Proof The Proof this Rule is best seen when this sum shall be remitted back from these Cities to Rome and because that the Calculation to all these three places is made in one and the same manner I have put them thus together the price only giving the alteration in Exchange more or less in each City CHAP. CCCXXXVIII Of the Exchanges of Rome with Sevil. Exchanges of Rome with Sevil ROme Exchangeth with Sevil and giveth 1 Crown of Estampe to have in Sevil posito 456 Marvedes I demand then for 400 Crowns of Estampe how many Marvedes shall Roâ—… have in Sevil To do which you must multiply the said sum of Crowns of Estampe by 456 Mâ—…evedes and they make 182400 which Rome must have Credit in the said Place And it is hereto be noted That throughout all Castilia the Exchanges are made in the same manner as at Sevâ—l and they likewise keep their accounts in the denomination of Marvedes and when as they amount to a million they term it in Spanish a Quintos Proof At Alcala and other places in Spain the Account is as above made and the further Proof thereof is seen when that Sevil shall Exchange with Rome CHAP. CCCXXXIX Of the Exchanges of Rome with Lisbon Exchanges of Rome with Lisbon ROme doth Exchange with Lisbon and delivereth one Crown of Estampe to have in the said place posito 513 Raes I demand what Credit in Raes shall Rome have in Lisbon for 325 Crowns 9. 6. d. this question is to be wrought as in the precedent account is shewed and it 〈◊〉 appear that Rome shall have Credit in Lisbon for Raes 166968 as shall be seen by the worâ—ing thereof following Proof The proof of this Account is apparent when that Lisbon shall Exchange back Raes 166968 with Rome at 513 Raes per Ducat CHAP. CCCXL Of the Terms of Payment of Bills of Exchange in Rome Terms of payment of Bills of Exchange in Rome From Rome the Terms are To Naples at 8 days sight and from thence back at 10 days To Bruges and Antwerp at 8 days sight To Palermo at 15 days sight and from thence back at 10 days To Florence at 10 days sight and so back To Venice at 10 days sight and so back To Avignon at 45 days sight and thence at 10
days back To Valentia at 1 month from the date and 10 days sight back To Barselona at 2 months from the date and 10 days sight back To Lions on the Fair and thence 10 days sight back To Genoa at 10 days sight and so back To Pisa at 10 days and the same back thence CHAP. CCCXLI Of the Aggio of Moneys practised in the Exchanges and Payments of Rome The Aggio of money paid to Rome by Exchanges THis Term Aggio common in divers parts of Italy is as much as the Valuable consideration in the species of sundry Moneys that are made in payments either for Merchandize or in Exchanges by Bills and is accounted the difference between the best Money used in Terms of Exchanges and the worst used in payments of Goods and therefore for the declaration and manifestation thereof I have made this Question and Chapter by way of Proposition and Demand A certain Merchant in Rome finding himself to have received for Merchandize sold by him to another Crowns 3441 and Baiocs 97 of Julio's 10 per Crown which he desires to reduce into Crowns of the Fstampe or as some Term them de Camera thereby to make them fit to be remitted into any other place the Aggio of the Moneys being considered as commonly is seen at 45 Julio's I demand then how many Crowns of Estampe the same will produce To know which you must first see how much the 100 Destampe are worth in Julio's at Julio's 12 the Crown which will be Julio's 1200 to which must be added 45 Julio's for the Aggio thereof because that the Crown of Estampe is worth 12 Julio's and then the Aggio which comes to be 12 Julio's and Baiocs 4½ per Crown or else 45 Julio's for Crowns 100 and they will be 1245 Julio's and so much shall 100 Crowns Destampe be worth the Aggio of the Money comprised likewise in the same manner you must reduce the said Sum of Crowns of money into Julio's and they make Julio's 34419 and Baiocs 7 comprehending 9 Julio's and 7 Baiocs for 97 Baiocs and this being done then work by the Rule of Three and say If Julio's 1245 give Crowns of Gold of Estampe 100 Crowns how much shall the said Julio's 34419. 7 give Then to multiply the said Julio's by 100 there is only a Cypher to be added after the 7 Baiocs and prosecuting thus the working of the question it will amount unto Crowns 2764. 12. 8. of Estamp Proof of the Aggios account Now to prove the said account you must multiply the said Crowns of Estampe by Julio's 1245 per cent in cutting the two last figures and of the Product there will remain Crowns 3441 and Baiocs 96â…˜ and so the account will appear to be well made saving a small broken number lost and in this manner must be wrought all like accounts though the Aggio of the money be either augmented or lessened still by adding the Aggio such as it shall be found to be with or to the Julio's 1200 which is the price of 100 Crowns of Gold Destamp The whole question I shall for Explanation demonstrate by the working thereof in this Example And first CHAP. CCCXLII Of Orders and Commissions given and received for Draughts and Remittances by Exchanges in Rome Orders and Commissions given and received for draughts and remittances in Rome I Will herein following my first intended method give you also a Proposition or two of a Draught and Remittance by Commissioâ—… and Order the manner whereof largely explained by Example will be full and sufficient for reglement for the like Draught or Remittance from this City to any another place From Rome then is remitted to Venice at Crowns 97¼ posito and from thence is remitted to Placentia at Ducates 136â…” I would now know at how much cometh the Remittance from Rome for Placentia To do which work thus You must first multiply the said Duc. 139â…” being the price of 100 Crowns of Mark by Crowns 72¼ per cent cutting the two last figures the which being multiplied by 20 and by 12 to reduce them into Sols and Den. of Gold and in thus working it will come to Crowns 98 14. 9. to the which must be added â…“ per cent for the provision paid at Venice which is 6 Sols 7 Deniers and they make Crowns 99 1 15 and so many Crowns Destampe disbursed in Rome for 100 Crowns of Marc. of Credit at Placentia as doth appear by Example following Proof To prove this account you must see how much the sum of Crowns Destamp that you would remit are worth in Ducates in Venice at the said price of Crowns 72¼ for Duc. 100 out of which to make the Remittance to Placentia the provision is to be taken out at â…” per cent then see how many will the Crowns of Mark give at Duc. 136â…“ for 100 Crowns of Mark and the Crowns of Mark which come thereof must be multiplied by the said price of 99 1 15 per cent and in thus working will come to the self-same sum of Crowns of Estampe which are disbursed in Rome for the Remittance made to Venice and by the Rule may the proof be made of all other accounts of the self-same subject But it is to be noted that the said account cannot serve in any other occasion but where the Remittance is made from Rome to Placentia and that the Exchange is at 100â…“ Crown of Estampe for 100 Crown of Mark thereby to discern if it be the more profitable to remit as they teâ—m it a dritura or straight or else to make Remittance to Venice and from Venice to Placentia as is beforesaid at the abovesaid prices the Remittance coming to be at 99 1 15 Crowns of Estampe so that as it is apparent it is more beneficial to remit to Placentia by the way of Venice for as much as it is seen by this Example that for 100 Crowns of Mark in that place there is no more paid and disbursed but Crowns 99 1 15 in Rome and making the Remittance straight and a dritura 100â…“ Crowns is to be disbursed And moreover it is to be noted that their Exchange is made sometimes at a greater or less price according to the abundance or scarcity of the moneys current and therefore these accounts serve only but for instruction sake and to shew how the Rules thereof are to be reckoned and cast up Another Example of a Commission given to enlighten this point I will add hereunto There is Order and Commission given at Rome to remit to Venice at 73â…” Crowns and to prevail for the same from Placentia at Crow 93â…“ but there is found Bills of Exchange for Venice at Crowns 74â…“ and money for Florence at Crowns 94â…” the question is then If at these prices the said Commission and Order may be effected The which to accomplish and know I must say by the Rule of Three seeing that Rome giveth the uncertain to both those said places If
Crowns 73â…” give 93â…“ Crowns what will Crowns 74â…“ give And it will give by the said Rule Crowns 94. 3. 6 d. so that this Order and Commission may be accomplished and performed with benefit because that remitting to Venice at Crowns 74â…“ it ought to be drawn to Florence at Crowns 94. 3. 6 and there it is found at more videlicet at Crowns 94â…” As for Example And thus much shall serve for instruction and method to the Exchanges and Commissions practised at Rome and now I will proceed to the next eminent place of Exchanges according to my intended method which is Naples CHAP. CCCXLIII Examples of the Exchanges practised in Naples and how the same are to be calculated Examples of Exchanges practised in Naples I Have shewed in the general Exchanges of Naples with how many other places this City is found to Exchange and there also shewed the common rates how the same doth govern which every day is so found to alter that no set rule can peremptorily be set down for the same yet it is in it self so beneficial that thereby the Learner may know how to make his account either in his Draughts or Remittances the way of making which account now remaineth to be handled observing the same with so many other places as may be fittest to understand the ground thereof Accounts in Naples It is also there observed that the Bankers and Exchangers of the place do keep their account in Ducats Taries and Grains the which are cast up by 5 and by 20 because that 5 Taries do make a Ducate and 20 grains a Tarie also that the Crown of Gold in Gold of this Kingdom is 13 Carlins or 6½ Taries and the Crown of money or Silver is 11 Carlins or 5½ Taries the Ducute of Gold being worth 6 Taries and the Ducate current is worth 5 Taries CHAP. CCCXLIV Of the Exchanges of Naples with Lions Exchanges of Naples with Lions NAples then Exchangeth with Lions and giveth posito Ducates 127½ to have in this place 100 Crowns of Gold of the Sun I demand then for Ducates 3295 and 1 Tarie how many Crowns of Gold shall I have in Lions To know which you must say by the Rule of Three If Ducates 127½ give 100 Crowns how many will Ducates 3295â…• give Multiplying the remainder of the Division by 20 and by 12 to make them Sols and Deniers and it will make Crowns 2584. 9. 4. of Gold of the Sun which I should have at Lions Proof The proof of this account is seen when Lions exchangeth back either for Naples Bery Lechy or any other City of that Kingdom CHAP. CCCXLV. Of the Exchanges of Naples with Placentia Exchanges of Naples with Placentia NAples Exchangeth with Placentia and giveth posito Ducates 132¼ to have in this place Crow 100 of Mark I demand then for Duc. 3416 Taries 2 and Grains 8 how many Crowns of Mark shall I have at Placentia To do which I must first reduce the said sum of Duc. into Grains and if there were neither Taries nor Grains it were done by the only addition of two Cyphers because that the Ducate is worth 100 Grains and because that there is in this Question 2 Taries and 8 Grains 48 Grains is to be added and take Grains 132¼ for Divisor of the said sum seeing it is as much at Grains 132¼ per Crown as at Duc. 132¼ per Crown 100 multiplying as well the one part as the other by 4 to bring them into quarters of Grains and after Division by multiplying the rest of the Divisor by 20 and 12 to bring them into Sols and Deniers of Gold and all this done it will come to Crow 2573. 12. 4 of Mark which I must have in the said place of Placentia for the said sum of Ducates above-mentioned as for Example Proof The proof of this Account is more apparently demonstrated when this sum or parcel is exchanged back from Placentia to Naples Bary Lechy or other Cities of this Kingdom CHAP. CCCXLVI Of the Exchanges of Naples with Rome Exchanges of Naples with Rome NAples doth exchange with Rome and giveth posito Ducats 135â…” in this place to have in Rome 100 Crowns of Gold of Estampe I demand then for Ducats 3183. 3. 17. what credit in Crowns shall Naples have in the said City of Rome To know which the question is wrought as is before mentioned in the precedent Exchange of Naples with Placentia and it cometh to Crowns 2346. 15. 2. of Gold of Estampe or de Camera and for so much shall Naples have credit in Rome as for Example Proof The proof of this Rule is manifested when this parcel is Exchanged back from Rome to Naples Bary Lechy or to any other City of this Kingdom CHAP. CCCXLVII Of the Exchanges of Naples with Florence Exchanges of Naples with Florence Naples exchangeth with Florence and giveth Duc. posita 119â…” to have in Florence 100 Crowns of Gold I demand then for Duc. 934. 1. 10. how much shall Naples have Credit in the said City of Florence This must be wrought as the precedent question of the Exchange of Naples for the City of Rome and it will come to Crowns 780. 15. 0 of Gold and so much shall Naples have credit in the said place of Florence as appeareth by this Example Proof The proof of this Account is declared when this parcel is Exchanged back from Florence to Naples CHAP. CCCXLVIII Of the Exchanges of Naples with Venice Exchanges of Naples with Venice NAples Exchangeth with Venice and giveth posito Ducats 97¼ to have in Venice Ducas 100 of Livers 6â…• of this Money which now is termed in Banco I demand then for Ducats 1799. 1. 13 of Naples how many Ducats shall I have in the place of Venetia This is to be wrought as the precedent multiplying the remainder of the division by 24 to bring the same into gross because that the Ducats of Livers 6. 4 s. maketh 24 gross and it will come to Ducats 1850 5 24 and so many Ducats shall Naples have in the said place of Venice as by the Example following Proof The proof of the said Account appears when this parcel of 1850 3 24 is exchanged baâ—… from Venice to the aforesaid place of Naples CHAP. CCCXLIX Of the Exchanges of Naples with Millan Exchanges of Naples with Millan NAples exchangeth with Millan and giveth posito Duc. 98½ to have in Millan Crow 100 of Livers 5 per Crow of the money of this place I demand then for Duc. 850 how many Crow shall I have in Millan To know which I must do as in the precedent exchanges multiplying the remainder of the division by 20 and 12 to bring the same into Sols and Deniers and by this working it will make Crow 862. 18. 10. and to know how many Livers they are they must be multiplied by 5 Livers beginning to multiply the Den. then the Sols and afterward's the
the same are concluded Exchanges practised at Genoa I Have shewed elsewhere the general Exchanges of Genoa and with how many other places this City is found to Exchange and there also declared the common rates and prices how the same is found to govern which notwithstanding is found so subject to alteration that it cannot admit of any great certainty yet so far it is conducible to this knowledge that it may serve as a certain rule for the calculation thereof either in the Draughts Remittances or Orders that may happen to fall within the limit of this City the forming of which accounts now remaineth to be handled observing the same with some other principal places which being well understood will enlighten the way to what is here by me for brevity sake willingly omitted Accounts in Genoa To give then Introduction thereto it is to be noted that Exchangers do here keep their accounts several ways as some in Livers Sols and Deniers of current money and others by Livers Sols and Deniers money of Gold and both these accounted and summed up by 20 and 12 because 20 Sols make a Liver and 12 Deniers do make a Sol. Moreover it is to be noted that the Crown of Italy of Gold in Gold is worth here in current Money 90 Sols of Genoa though it is found sometimes to be worth more and sometimes less as Moneys are requested Notwithstanding the said Crown is always given for 68 Sols Money of Gold Again it is to be observed that in Genoa all or the most part of Exchanges that are practised are effectively for Placentia Lions Millan Venice Naples and Rome and therefore in the handling thereof I shall to avoid tediousness be the briefer CHAP. CCCLXII Of the Exchanges of Genoa with Placentia Exchange of Genoa with Placentia GEnoa doth Exchange with Placentia and giveth posito Sol. 87¾ current money to have there 1 Crow of Mark I would know then for Livers 10269. 19. 3 d. current money how many Crow of Mark I shall have in Placentia 1. Example First then multiply the said Sol. 87¾ by 4 to bring them into 4 4 adding the ◠4 and they make 351 quarters and then multiply the said sum of Livers by 20 to make them Sols and then by 4 to make them quarters of Sols adding to the multiplication ¼ for the 3 Deniers and it will be in all 821 597 which divide by 331 the price of the Crown of Mark and the division will be 2340 multiplying the rest by 20 and by 12 to make them Sols and Deniers and they will be in all Crow 2340. 14. 7. of Gold of Mark which you must have in Placentia as by Example will be more evident To prove this account you must multiply the said Crowns of Mark by Lib. 4. 7. 9. beginning to multiply by the Deniers and then by Sols calculating it by 12 Deniers for one Sol and by 2◠for one Liver and of the product will come l. 10269-18-11 so that it is evident that the account is just the difference being in some small parts of the division which is lost as by Example Another Example of the said Exchanges At Genoa it is oftentimes seen that the Exchange is made for Placentia in Sols of Money of Gold and the difference of this money is that the Crown of Gold by decree of the estate is worth Sols money of Gold and in current money 90 Sols and though that the said price of the current money rise and fall the money of Gold never varieth from the said price of 68 Sol. If then I would know for Livers 2816. 13. 4. money of Gold which one exchangeth at 66 5 d. money of Gold per Crown how many Crowns of mark shall one have Do thus Reduce the abovesaid Livers into Deniers multiplying them by 20 and the Sols resting by 12 likewise reduce the said Sols 66. 5 Deniers into Deniers multiplying them by 12 and that which will come thereof shall be the Divisor of the sum of Deniers come of the said Liv. the which divided will be 848 Cro. 3. 7. of Mark. Proof To prove this Rule multiply this by 5 d. and the product will be 2186. 13. 3. which shews the account to be just cast Third Example In Genoa I would deliver for Placentia lib. 3248. 15. of current money which is exchanged at 67 Sol. 10 d. of money of Gold I demand how many Crowns of Mark they will be First reduce the said sum of Livers of current money into Livers of money of Gold dividing the same by 90 Sols the price of the Crown of Gold in current money and they will be Crowns 721. 18. 10 which must be multiplyed by 3 l. 8 s. the price of the Crown in money of Gold and it will come to lib. 2454. 12. money of Gold which divided by 67. 10 to see what the Crowns of Mark are worth and they will make Crowns 723. 14. 3. of Mark and so much shall Genoa have medit in Placentia for the said l. 3248. 15 of current money as the example shall more evidently demonstrate To reduce Livers of current money into Livers of Gold in Geona If in Genoa you would reduce any sum of current money into Livers of money of Gold by a short rule because that the Crow of Gold in current money is 90 s. and in money of Gold 68 s. you must take of the current money twice ⅓ placing them the one under the other and out of one of the said ⅓ take ⅕ and of that which cometh of the said ⅕ you must take ⅓ and adding these 4 parcels together will come Money of Gold as will appear by this Example Proof For proof of the said account if by the same method you would reduce Livers of Money of Gold into Livers of current Money you must add to the said Livers of Money of Gold the ¼ and of that which will come thereof take 1 17 adding the said two parcels together and they will make Livers of current Money Example And thus much shall serve for the Exchange of Genoa with Placentia wherein I have thought fit thus far to enlarge my self by reason of the great Exchanges continually practised between the said two places CHAP. CCCLXIII Of the Exchanges of Genoa with Lions Exchanges of Genoa with Lions GEnoa Exchangeth with Lions and giveth posito Sols 59. 9. Money of Gold to have in Lions a Crown of the Sun I would know then for Livers 37296. 6. 0 of current Money in Genoa how many Crowns of the Sun I shall have in Livers First reduce the said sum of Livers of current Money into Livers of Money of Gold by the former Rules dividing by Sol. 90. the price of the Crown of Gold in current Money and they will make Crowns 8288. 1. 4. which must be multiplyed by l. 3. 8. 5. the price of the Crown in Money of Gold and it will come to
l. 28179. 8. 6. the which divided by Sol. 59. 9. the price of the Crown of the Sun it will be Crowns 9432. 8. 10. And so many Crowns of the Sun will Lions give for those Livers of câ—…rent Money as above propounded Example Proof The proof of this rule will appear when this parcel shall be rechanged back from Lions to Genoa CHAP. CCCLXIV Of the Exchanges of Genoa with Millan Exchanges of Genoa with Millan GEnoa doth Exchange with Millan and giveth 1 Crown of Livers 4 of current Money to have in this place posito Sol. 118½ I would know then for Livers 3850. 14. 8. of current Meney what credit shall Genoa have in Millan First take the quarter of the said sum of Livers to make the same into Crowns of Livers 4 and they will make Crowns 962. 13. 8 the which must be multiplied by Livers 5. 18. 6. per Crown which are the said Sol. 118½ and they will make l. 5703. 17. 11 d. And so much shall the said credit be in Millan as doth appear by the Example in the work following Proof The proof of this account will more evidently appear when this parcel is rechanged for Genoa from Millan CHAP. CCCLXV Of the Exchanges of Genoa with Venice Exchanges of Genoa with Venice GEnoa doth Exchange with Venice and giveth one Crown of Livers 4 current money to have in Venice posito 146½ Sol de Banco and of that money I demand for l. 8340. 12. 0. turrent Money of Genoa how many Ducats de Banco of l. 6â…• per Duc. shall one have credit in Venice To do this then first take the ¼ of the said sum of Livers to reduce them into Crowns of 4 l. and they will make Crowns 2085. 3. 0. the which by l. 7. 6. 6. per Crowns which are the said Sol. 146½ and of the Product thereof will come l. 15273. 14. 6. which must be reduced to Ducats dividing them by 124 the price of the Ducat of 6 l. 4 Sol. and multiplying the rest of the Division by 24 to bring them into Grosses because that 24 Grosses maketh one Ducat and by thus working the same will be Ducats 2463. ½ and so many Ducats of lib. 6â…• shall you have credit in Banco for at Venice as for Example Proof The proof of this rule is seen when Venice doth Exchange back for Genoa this said sum CHAP. CCCLXVI Of the Exchanges of Genoa with Naples Exchange of Genoa with Naples GEnoa doth Exchange with Naples and giveth posito 66â…” Sols of current money to have in this place one Ducat of 5 Taries I demand then for liv 4486. 3. 4. current Money how many Ducats in credit shall I have in Naples First reduce all the said sum of Livers with the said l. 66â…” of current Money into Deniers multiplying the Livers by 20 and the Sols that come thereof by 12 doing the same by the Sols of the price of the Exchange multiplying the same by 12 and by the Division thereof it will make Ducats 1345 and multiplying the remainder of the Division by 100 by reason that 100 Grains doth make one Ducat and there will come Grains 85 which are worth 4 Taries and Grains 5 seeing as hath been before remembred that 1 Tary is in Naples 20 Grains And by thus working it will make Ducats 1345. 4. 5. and so much shall the credit be in Naples as by the Example Proof The proof of this account is seen when Naples shall Exchange back with Genoa I could much more inlarge the Exchanges practised at Genoa with other places but for brevity I willingly omit the same and therefore now come to the Commissions and Orders given in matters of Exchanges at Genoa CHAP. CCCLXVII Of Orders and Commissions given and received for Draughts and Remittances in Genoa Orders and Commissions given and received for Draughts and Remittances in Genoa 1. Example ACcording to my proposed method I will here add one or two Examples of the Orders and Commissions given and thereby received in Draughts and Remittances at Genoa First the posito from Venice there is order given to Genoa to remit to Venice and to prevail for Millan at such a Price that the Draught from Millan to Venice comes but to 148 l. clear of all charges now then there do present Bills for Venice at 149 and money for Millan at 148. I demand if at these prices the said Commission may be performed To do which say by the Rule of Three If Sols 148 of Venice give at Millan Sols 117 being the price of the Crown of the said Millan what will Sols 149 give the price of the Crown of Livers 4 l. at Genoal And it will come to 117¼ Sol. the which without deduction of provision is apparent that the Commission cannot be performed because that the remitting to Venice at 149 the Draught cannot be made for Millan at more then 117¾ besides the provision and the patido is found at 118 Sols as the Example sheweth See Example Again to Genoa cometh order from Antwerp to buy some Velvets and to prevail for the same by Placentia at such a price that the Palm of Velvets in Genoa amount not being bought to more than Sol 8½ money of Gross and the Draught for Placentia at Gross 123. Now there is found Velvets at 72¼ Sols the Palm and Money for Placentia at Sol 88. in current Money I demand then if at these prices the said Commissions may be effected To know which say by the Rule of Three if Gross 123 the price of the Crowns of Mark give at Genoa Sol. 88. what will Gross 102. which are the said Sol. of 8½ of Grosses give and it will come to Sol. 72. 11 so that as it will appear the said Commissions may be performed to benefit because that in drawing for Placentia at 88. Sol the Velvets may be bought at 72 Sol. 11 Den. the Palm and iâ— is found at 72 1 â— Sol. CHAP. CCCLXVIII Of the terms of payment of Bills of Exchanges in Genoa Of the terms of payment of Bills in Genoa From Genoa the terms of Bills are TO Venetia at 15 days sight and at 16 dayes back To Avignon at 15 days sight and so back To Barselona at 20 days sight and so back To Valentia at 20 days sight and so back To London at 3 months from the date and so back To Millan at 5 days sight and so back To Rome at 10 days sight and so back To Pisa at 5 days sight and so back To Gaietta at 10 days sight and so back To Bridges and Antwerp at 10 days sight and thence at two months from the date To Paris the same as to Bridges and Antwerp To Naples and Palermo at 15 days sight and back at 20 days sight And thus much shall serve for Exchanges practised at Genoa together with the Comnissions given and received there and so proceed to the next eminent place of Exchanges
Venetia CHAP. CCCLXIX Examples of the Exchanges practised at Venice and how the same are to be calculated Exchanges practised at Venice I Have shewed the general Exchanges used in Venice and with how many other places this City is found to Exchange and there also shewed at large the common rates and prices the same is found there to govern which notwithstanding is so subject to alteration that the prices there mentioned cannot be admitted for a settled rule and certain rate yet so far it is conducible in it self to the understanding hereof that the same may serve as an undoubted method in the culculation thereof either in the Draughts or Remittances Orders or Commissions that may fall within the limit of the Exchanges of this City the working of which rules now remaineth to be handled observing the same only with such principal places as are most notable which being well understood will serve as guides to find out what else is here by me for brevity willingly omitted Accounts kept in Venice To give first then an introduction thereunto it is to be noted That Merchants and Bankers here do keep their accounts by several methods and denominations some in Ducats and Grosses of Livers 6⅕ the Ducat the which they sum by 24 because that 24 Grosses are worth one Ducat and others keep the same by Livers Sols and Gross which are worth ten Lucats the Liver which is summed up by 20 and by 12 making 20 Sols of Gross to be one Liver and 12 Deniers one Sol. Again it is to be noted that some few years past the Money current paid in payment of Merchandise and the Money current paid upon Bills of Exchange was of one and the self-same goodness in value or little in difference but now the moneys paid upon Bills of Exchange is found to exceed the former 20 in 21 per cent and is commonly now called in Banco as the other is called the current Money and therefore when moneys by Exchange is mentioned it is understood to be in Banco as the best and principal CHAP. CCCLXX Of the Exchanges of Venice with Lions Exchanges of Venice with Lions VEnice doth Exchange with Lions and giveth posito Ducats 119⅖ of Livers 6⅕ to have in Lions Crow 100 of Gold of the Sun I demand for Duc. 4238 1 12 how many Crowns of the Sun shall I have in Lions To do this say by the Rule of Three If Duc. 119⅖ give 100 Cro. of the Sun of Gold what will Duc. 4328 1 12 give me which being done accordingly as I have heretofore often mentioned it will come to Crow 3459 and multiplying the remainder of the division by 20 to make them Sols of Gold and then by 12 to make them Deniers it will come in all to Crow 3549. 9. 8. of Gold of the Sun and so much shall you have credit in Lions for the said sum of Ducats 4238 1 12 of Livers 6. 4. Sols per Ducat as may be seen by the following Example Proof The proof of this Rule is seen when that Lions doth Exchange back with Venice CHAP. CCCLXXI Of the Exchanges of Venice with Placentia Exchanges of Venice with Placentia VEnice doth Exchange with Placentia and giveth posito Duc. 134½ of Livers 6⅕ to have in Placentia 100 Crow of mark I demand for Ducats 1450 17 24 how many Crowns of Mark First reduce the said Duc. 134½ into grosses multiply them by 24 and adding 12 grosses for the half Ducat and it will make gross 3228. in like manner you must reduce the said Ducats into grosses in multiplying them by 24 and adding of 17 gross for the 17 24 it being the same to say one gross as 1 24 and it will be grosses 34817 saying then by the Rule of Three If grosses 3228 give Crow 100. what will grosses 34817 give And it will come to Crow 1078 and multiplying the rest of the division by 20 to make them Sols of Gold and by 12 to make them Deniers it will be found to make in all Crowns 1078. 11. 10. of Gold of mark and so much you shall have in Placentia for the said Duc. 1450 17 24 of l. 6. 4. s. as by the Example following Proof The proof of this Rule is more apparent when Placentia doth Exchange back with Venice CHAP. CCCLXXII Of the Exchanges of Venice with Rome Exchanges of Venice with Rome VEnice doth Exchange with Rome and giveth Ducats 100 of 6 l. 4 s. to have in that place posito Cro. 73½ of Gold de Camera for Duc. 1157½ I would know how many Crow shall Venice have in Rome you must multiply the said sum of duc at the said price of Crow 73½ per cent and out of its product cut off the two last figures the which multiplyed by 20 and by 12 to make them sols and deniers of gold and it will make Crowns 850. 15. 3. of gold of estampe and so much credit shall Venice have in Rome as is apparent by this Example Proof The proof of the said account is more apparent when this parcel is Exchanged from Rome back to Venice CHAP. CCCLXXIII Of the Exchanges of Venice with Naples Exchanges of Venice with Naples VEnice doth Exchange with Naples and giveth Ducats 100 of lib. ⅓ to have in the said place posito Duc. 97¼ of Taries 5 per Ducat I demand then for Ducats 1850 5 24 of Venice how many Ducats credit shall I have in Naples Multiply the said sum of Ducats by Grains 97¼ per Duc. and of the Product will come grains out of which cut off the two last Figures to make them Ducats because as hath been said before one Ducat is worth 100 grains and it will make Ducats 1799 and grains 32 which are one Tarie and grains 12 and so much credit shall you have in Naples for the said sum of Duc. of Venice as by Example shall appear Proof The Proof of this account will appear when this is rechanged from Naples to Venice and note That when Venice doth Exchange with Bary Lechy Lausano or other parts of the Kingdom of Naples the account is made as above with Naples it self CHAP. CCCLXXIV Of the Exchanges of Venice with Florence Exchanges of Venice with Florence VEnice doth Exchange with Florence and giveth Duc. 100 of l. 6⅕ to have in Florence Posito 81½ Crow of Gold I demand then for Ducats 2500 what credit shall Venice have in Florence To do this multiply the said sum of Duc. at the abovesaid Price of Crow 81½ per cent and from the Product cut the two last sigures multiplying the same by 20 and by 12 to make the same Sols and Deniers of Gold and they make Crow 2037. 10 Sols of Gold of Florence as by Example will manifestly appear Proof The proof of this account is seen when this Sum is rechanged from Florence to Venice CHAP. CCCLXXV Of the Exchanges of Venice with Millan Exchanges
of Venice with Millan VEnice doth exchange with Millan and giveth posito Sols 148½ to have in Millan one Crown of Livers 5 and 17 Sols of that Money I demand for Duc. 1486⅕ of Liv. 6¼ what credit in Livers shall Venice have in Millan First multiply the said sum of Duc. by 124. Sol. the value of the Duc. of Li. 6⅕ and it will make Sol. 184295. the which divided by Sol 148½ to see how much the Crowns of Millan are worth and multiplying the remainder of the division by 20 and by 12 to make them Sols and Deniers of Gold and they will make Crowns 1241 and 10 Deniers the which multiplyed by Li. 5. 17. the price of the Crown to make them Livers beginning to multiply the Livers 5 by the 10 Deniers which are worth the Crown and then with the Sols if any be calculating for 12 Deniers 1 Sol and for 20 Sols 1 Liver and of the product thereof will come Li. 7260. 1. 10. And so much Credit shall Venice have in Millan for the said Ducats 1486¼ of Livers 6⅕ of Venice as by the Example following Proof The proof of this rule is seen when Millan doth exchange with Venice CHAP. CCCLXXVI Of the Exchanges of Venice with Antwerp Exchanges of Venice with Antwerp VEnice doth exchange with Antwerp and giveth one Ducat of Livers 6⅕ to have in that place posito Grosse 92½ I demand then for Duc. 3810¾ how many Livers Grosse shall Venice have credit in Antwerp You must multiply the said sum of Ducats by the said Gross 92½ and it will make Gross 352494 out of which take 1 12 to make the same Sols of Gross and they will be Sels 29374 and Gross 6 the which must be reduced into Livers by cutting the last figure and by taking the ½ of the rest and it will come to be Livers 1468 and the tenth that is remaining is ten Sols and adding 4 the figure cut off shall be 14 Sol. so in all 1468. 14. 6 which Antwerp will give As for Example Proof The proof of this rule is seen when Antwerp rechangeth this sum with Venice And here it is to be noted that Venice doth exchange with Colonia and Amsterdam and the Nethelands after the same manner as with Antwerp and the account is made up as the precedent whereto needeth no further example for Illustration CHAP. CCCLXXVII Of the Exchanges of Venice with London Exchanges of Venice with London VEnice doth exchange with London and giveth one Ducat of Liv. 6⅕ to have there posite 56¼ pence sterling I demand then for Ducats 740 how many Livers of Sterling shall Venice have credit in London This must be done as in the precedent account is shewed of Venice with Antwerp and it will come to pounds 173. s. 8. and pence 9 which Venice shall have credit in London as by the Example more at large appeareth Proof The proof of this account is manifested when London doth rechange this sum of 173. 8. 9 d. for Venice and here note that Vsance from Venice to London is 3 months or 90 days and double Vsance the said time doubled and the like accounted back from London to Venice CHAP. CCCLXXVIII Of the Exchanges of Venice with Genoa Exchanges of Venice with Genoa VEnice doth Exchange with Genoa and giveth posito Sols 146½ to have in Genoa one Crown of 4 Livers money of Genoa I demand then for Duc. 2463½ of Livers 6⅕ how many Livers of current money shall I have credit in Genoa First reduce the said sum of Duc. into Sols multiplying them by 124 the value of the Ducat and divide the Sols that shall rest of the said multiplication by 146½ to make them Crow of 4 Livers and multiply the remainder of the Division by 20 and by 12 to make them Sols and Deniers of Gold and they shall be Crow 2085. 2. 11 which must be multiplied by l. 4 per Crown beginning the multiplication by Deniers and then by Sols calculating for 12 Deniers 1 Sol and for 20 Sols 1 Liver and of the product will come Livers 8340. 11. 8 current Money and so much will the credit be in Genoa as in the following Example Proof The proof of this account is seen when Genoa doth rechange this parcel for Venice CHAP. CCCLXXIX Of the Exchanges of Venice with Norimberg Exchanges of Venice with Norimberg VEnice doth exchange with Norimberg and giveth Duc. 100 of lib. 6⅕ to have in the said place posito Florins 130¼ of 60 Quarent per Florin I demand then for Duc. 2645 5 14 what credit in Florins must I have in the said place Multiply the said sum of Ducats by Florins 130¼ per cent and the broken numbers of the multiplication divide by 20 to have an account of the Sols and of the remainder cut off the two last figures the which being multiplied by 20 to bring the same into Sols and then by 12 to bring them into Deniers and in doing thus there will be found Florins 3210. 18. 8. which must be had in credit at Norimberg for the said Duc. in Venice remitted As by this Example following appears Proof The proof of this account is manifest when Norimberg shall exchange this sum back with Venice And note That for Augusta and Francfort the Exchange from Venice is made as with Norimberg whereto needs no other Examples CHAP. CCCLXXX Of the Exchanges of Venice with Bergamo Exchanges of Venice with Bergamo VEnice doth Exchange with Bergamo and giveth one Crown of 7 Lib to have in Bergamo Sols 145½ posito I demand then for Duc. 4220⅔ how many Livers will it amount unto Multiply the said sum of Ducats by 6 l. ⅕ and it will amount to lib. 26168. 2. 8 of which take the 1 7 to make them Crowns and the remainders divide by 20 and 12 and they will be Crowns 3738. 6. 1. the which must be multiplied by lib. 7. 5. 6. which are the said lib. 145½ Sols and of the multiplication will come lib. 27196. 3. 2. which must be had in credit in the said place of Bergamo as by this Example following Proof The proof of the said Rule is discerned when this parcel is Remitted back from Bergans to Venice And thus much shall serve to have said of the Exchanges of Venice a word of the Orders and Commissions here practised in matters of Exchanges CHAP. CCCLXXXI Of Orders and Commissions given and received for Draughts and Remittances in Venice Orders and Commissions given and received for Draughts and Remittances in Venice ACcording to my proposed method I will here add an Example or two of Draughts and Remittances ordered by Commission in the City of Venice posito 1. Example Into Venice cometh Order from Francfort that they may draw thither at Florins 130 and remit thence to London at 56 pence not of charges or provision the partido being for Ducats 3500 Now there is Bills found for London at 57¼
pence and money for Francfort at Florins 132â…• I demand then at these rates whether this Commission without breach of Order may be performed To do which say by the Rule of Three seeing that Venice giveth the certain price to both those said two places If 56 pence sterl give 130 Florins the limited price what shall 57¼ pence give the price found and it will make Flor. 132 9 10 from which deduct 10 s. 7 Den. for the provision that is taken at â…– per cent there will remain Flor. 132. 7. 5 so that thereby the said Commission may be performed with benefit because that remitting to London at 57¼ pence sterl the draught may be made for Francfort at Florins 132. 7. 5 and the money that is found is at Flor. 132â…• as appeareth by this Example 2. Example Again a Merchant of Florence is creditor in Venice posito 2000 Ducats of banco who ordereth that the same be remitted unto him at Crow 81½ thence or by the way of Antwerp at gross 91¼ and to take the most beneficial way of the two and finding a remittance by both to profit according to the limited prices the order is to take the most prositable of the two and finding the remit tances produce loss to accept of the least Now then there are Bills found for Florence as I said at 82½ Crow and for Antwerp at 92 7 10 gro I would know by which the remittance ought to be made seeing that by both the remittance may be made to profit and desirous to find out the most profitable you must say by the Rule of Three If Crow 81½ give gross 91¼ the price limited what shall 82½ Crow give which is the price found And it will make grosses 92 7 10 or thereabouts so that the remittance must be made by Florence straight because that remitting by that way at 82½ Crow to make the price you should remit to Antwerp at 92 7 10 gross and there are no Bills found but at gross 92 9 10 as it is seen wrought by this Example 3. Example Again posito from Lions the Exchange goeth for Venice at Duc. 117â…– and for Naples at Duc. 125 I demand giving order to Lions that at these prices they make draught to Venice and remit 〈◊〉 Naples at what price then will the remittance come out to be from Venice to Naples To know â—aich say by the Rule of Three If Ducats 117â…– of Venice the price of 100 Crow of Sol. of Gold of Lions give at Naples Duc. 125 how many will Duc. 100 give of the said place of Venice and it will make Duc. 106½ or thereabouts and so much credit must be had in Naples for Duc. 100 of lib. 6â…• which are disbursed in Venice out of which must be deducted â…– per cent for the provision that is paid in Lions 4. Example Again in the said place of Venice cometh order from Florence to remit to Placentia at Duc. 136 and to prevail on them at Crow 80 not of charges the partido being made for 5000 Crowns of Mark Now the said 5000 Crow of Mark is found for Placentia at Duc. 135 and for Florence may be drawn Duc. 2000 at Crowns 80¼ I would know at what price must the rest be dawn To know which I must first see for remittance of the said Crew 5000 of Mark at the price inordered how many Crow of Gold it is at Florence and to do this multiply the said sum of Crowns by Duc. 136 per cent and they make Duc. 6000 without calculation of provisiâ—… seeing that the order is not of charges you must multiply them by Crowns 80 per cent and they will be Crow 5440 of Gold and so much the draught will appear to be for the said Crow 5000 of Mark by remittance and afterwards multiplying the said Crowns 5000 by Duc. 135 per cent the price that is found it maketh Duc. 6750. to which adding Duc. 27. for the provision at â…– per cent seeing that the draught must be made for Florence and they will be Duc. 6777 out of which deduct Duc. 2000 which were found to be drawn at Crowns 80¼ there will rest Duc. 4777 and for the said Duc. 2000. there disbursement is at Florence Crowns 1605â— which must be deducted out of Crow 5440 which must be drawn there will remain Crowns 3835 of Gold which must be drawn for the which I must be imbursed at Venice Ducats 4777 and to know at what price say by the Rule of Three If Duc. 4777 give by disbursment at Florence Crowns 3835 of Gold what will Duc. 100 give And it will make Crow 80. 5. 7. of Gold and at this price the said partido of Duc. 4777 may be drawn and the other Duc. 2000 at 80¼ Crow and so for both these parcels must be drawn Crown 5440 as is inordered and there is imbursed Duc. 6777 there being per contra disbursed Duc. 6750 for the remittance of the said Crown 5000 of Mark at Duc. 135. per cent and Duc. 27 which is imbursed over and above proceeding from the provision and in this manner this said Commission will remain performed as it was by the Committees inordered as by example the same will appear evident following Note And note when the said City of Venice exchangeth for Naples Rome Antwerp and London and that you would know at how much cometh the Money of any one of the said places for Lions or Placentia the account is made as in the precedent rule of Florence and Placentia alway multiplying the price by which the Exchange goeth for Lions with the price of the other place from whence it is remitted or drawn And therefore for brevity sake it is needless to propound here any further example CHAP. CCCLXXXII Of the Terms of Payment of Bills of Exchange in Venice Terms of payments of Bills of Exchange in Venice The Terms from Venice TO Naples and Gaietta at 15 days sight and so back To Palermo and Mesina at 30 days sight and so back To Rome at 10 days sight and so back To Florence and Lucca at 20 after date and 5 days sight back To Avignon at 45 days after date and thence 2 months after date To Barselona at 2 months after date and so back To Valentia at 75 days after date and so back To Sevil at 90 days after date and so back To Lions for the Fair and from Fair to Fair. To Bridges and Antwerp at 2 months after date and so back To London at 3 months after date and so back To Paris at 2 months after date and so back To Genoa at 10 days sight and 15 days back To Millan at 12 days sight and 20 days thence after date To Constantinople 5 months after date and so back CHAP. CCCLXXXIII Examples of the Exchanges that are practised in Placentia and how the same are to be calculated Of Exchanges practised at Placentia I Have shewed in the general Exchanges of Placentia
with how many other places Placentia is found to Exchange and there also set down the common rates how the same is for the most part found to govern which every day is so subject to alteration that no positive rules can be set down for the same yet it is in it self so beneficial that thereby the unexperienced may know how to make up the account thereof at what rate soever the same be found to be either in Remittances or Draughts the which only now remaineth to be handled observing the same with so many other Towns as may be fittest to understand the ground thereof Accounts kept in Placentia It is then first to be noted that all Bankers and Exchangers here do keep their Accounts in Crowns Sols and Deniers of Gold of Mark which are cast up by 20 and 12 because that 20 Sels of Gold make a Crown and 12 Deniers make a Sol. CHAP. CCCLXXXIV Of the Exchanges of Placentia with Lions Exchanges of Placentia with Lions ANd first then Placentia is found to Exchange with Lions and giveth posito Crowns 85½ to have at Lions 100 Crowns of the Sun of Gold I demand then for Crowns 1516. 12. of Mark what will be due to me in Lions To do which say by the Rule of Three If Crowns 85½ of Mark give 100 Crowns of the Sun what will the said Crowns 1516. 12. give And it will come to Crowns 1773. 16. 0. of Gold of the Sun And so much will be due to me in Lions for the said sum of Crowns of Mark as by Example following Proof The proof of this Rule is seen when that Lions doth Exchange with Placentia CHAP. CCCLXXXV Of the Exchanges of Placentia with Genoa Exchanges of Placentia with Genoa PLacentia Exchangeth for Genoa and giveth one Crown of Mark to have posito Sols 67. 10 Money of Gold in Genoa I demand then for Crow 723. 14. 3. of Mark how many Livers of current money shall I have in Genoa First multiply the said Crow of Mark by Li. 3. 7. 10 per Crow which are the said 67 Sols 12 Den. beginning to multiply the said Li. 3. by 3 Den. and afterwards by Sols 14 which are with the Crow calculating for 12 Den. one Sol. and for 20 Sols one Liver and the product will come Li. 2454. 11. 9. Money of Gold which must be divided by 68 Sols the price of the Crown of Gold in Money of Gold to bring them into Crowns multiplying the rest of the division by 20 and by 12 to make them Sols and Deniers and they will make Crow 721. 18. 9. of Gold which must be multiplied by Li. 4½ per Crow the present price of the Crow of Gold in current Money and it will make Li. 3248. 14. 4. And so much in current Money I shall have in Genoa for the said Crow 723. 14. 3. of Mark. As by Example Proof The proof of the said Account is seen when Genoa exchangeth for Placentia CHAP. CCCLXXXVI Of the Exchanges of Placentia with Rome Exchanges of Placentia with Rome PLacentia Exchangeth with Rome and giveth 100 Crowns of Gold of Mark to have in that place posito Crown 99¾ of Gold of Estampe I demand then for Crowns 1385. 15. of Mark how many Crowns of Estampe shall Placentia have credit for in Rome To do which multiply the said sum of Crowns of Mark by 99¾ per cent and taking the remainder of the multiplication to be divided by 20 Sols cutting off the two last figures of the production the which multiplyed by 20 to make them Sols of Gold and then by 12 to make them Deniers and they will make Crowns 1382 5. 9. of Gold And so much will the credit be in Rome as by the Example following Proof The proof of the said account is seen when that Rome doth Exchange back for Placentia CHAP. CCCLXXXVII Of the Exchanges of Placentia with Florence Exchanges of Placentia with Florence PLacentia doth Exchange with Florence and giveth 100 Crowns of Mark to have in that place posito Crowns 110½ of Gold I demand for Crowns 4500. 10 of Mark how many Crowns of Gold shall I have in Florence To know which working according to the preceeding Example and Rule of Placentia with Rome and I find it giveth Crowns 4973. 1. 0. of Gold which Flacentia must have Credit for in Florence As for Example Proof The proof of this account is discerned when Florence doth rechange for Placentia CHAP. CCCLXXXVIII Of the Exchanges of Placentia with Palermo Exchanges of Placentia with Palermo PLecentia doth Exchange with Palermo and giveth Crow 100 of Mark to have in Palermo posito Duc. 132¼ of Taries 5 per Duc. I demand then for Crow 2573. 12. 4. of Mark what credit shall Placentia have in Palermo To do which you must multiply the said sum of Crowns by Grains 132¾ per crow seeing as hath been said it is alike so many Grains per Crow as so many Ducats per 100 Crowns and of the product will come Grains the which to turn to Ducats you must cut off the two last figures and there will remain Duc. 3416. and the Grains 47 which are the two last cut figures which are 2 Taries and 7 Grains So that for the said Crow 2573 12. 4 of Mark Placentia shall have Credit in Palermo Duc. 3416. 2. 7 d. As for Example Proof The proof of the said Account is discerned when that Palermo is seen to rechange for Placentia Exchanges with Mesina the same as with Palermo And note that when the said place doth exchange with Mesina in this Kingdom the Account is made as above with Palermo the price and rate is only found to differ and to be either higher or lower CHAP. CCCLXXXIX Of the Exchanges of Placentia with Venice Exchanges of Placentia with Venice PLacentia doth Exchange for Venice and giveth Crowns 100 of Mark to have in the said place Duc. 134½ more or less of Livers 6⅕ per Duc. I say in Banco I demand for Crow 1078. 12 of Mark how many Ducats shall it make in Venice Multiply the said sum of Crowns by Duc. 134½ per cent and the remainders of the multiplication are to be divided by 24 to bring them into Grosses and from the product cut off the two last figures which are to be multiplied by 24 to make them Grosses and it will make Duc. 1450 17 24 of Livers 6⅕ per Duc. And so much will Placentia have in Venetia for the said sum of Crowns of Mark. As by this Example Proof The proof of the said Account is discerned when that Venetia is found to rechange for Placentia CHAP. CCCXC Of the Exchanges of Placentia with Millan Exchanges of Placentia with Millan PLacentia doth Exchange with Millan and is found to give one Cro. of Mark to have in the said place posito Sols 133⅔ I demand then for Crow 1450. 15. 6 of Mark how many Livers ought I
to have in Millan Multiply the said Crowns by Livers 6. 13. 4. per Crow which are the said Sols 133⅔ beginning to multiply the 6 Livers by the 6 Deniers and then by the 15 Sols which are with the Crow of Mark calculating for 12 Deniers one Sol and for 20 Sols one Liver and they will make l. 9671. 16. 8. which Placentia must have in Millan As by Example Proof The proof the said account is seen when Millan doth Exchange back with Placentia CHAP. CCCXCI Of the Exchanges of Placentia with Naples Exchanges of Placentia with Naples PLacentia doth Exchange with Naples and giveth one Crown of Mark to have in Naples Carlins posito 29½ I demand for Crowns 2400. 10. 10. of Mark what credit in Ounces shall I have in Naples Multiply the said Crowns by 29½ Carlins per Crown and take the rest of the multiplication to be divided by 10 to the end to make them Grains and they will make Carlins 70815 Grains 9. the which to reduce to Ounces you must cut off the last figure and take ⅙ of the rest and it will be Ounces 1180 and the tenth of the remaining Carlins is to be added to the 5 Carlins which is the figure cut off and they are Carlins 15 which are Taries 7 and there will remain 1 Carlin with the 9 Grains which are Grains 19 and in all are Ounces 1180. 7. 19. to which add one Carlin per Ounce for the good Money which done as hath been before shewed when Naples doth exchange with Palermo and it will make Ounces 1199. 28. 1. And that is the credit that shall be due in the said Naples good Money being therein comprised as by this Example Proof The proof of this account is seen when Naples doth Exchange with Placentia Note Barry and Lechy And note the account is the same when Placentia doth Exchange with Barry and Lechy in this Kingdom the rates only altering CHAP. CCCXCII Of the Exchanges of Placentia with Sevil. Exchanges of Placentia with Sevil. PLacentia is found to Exchange with Sevil and giveth one Crown of Mark to have in that place posito 428 Marvedes I demand then for Crow 815. 5. 6 of Mark what credit in Marvedes shall Placentia have in Sevil Multiply the said sum of Crowns by 428 Marvedes the Crown and it will make Marvedes 348937 and adding ½ per cent for the Aggio of the Moneys at 5 Mervedes per Mill and they make Marvedes 350681. and so much Credit shall Placentia have in Sevil As for Example Proof The proof of this Account is seen when that Sevil doth rechange for Placentia CHAP. CCCXCIII Of the Exchanges of Placentia with Valentia Exchanges of Placentia with Valentia PLacentia doth exchange with Valentia and is found to give one Crown of Mark to have in Valentia 23⅓ Sols posito I demand for Crowns 926. 19. 2 of Mark how many Livers shall I have in Valentia To do this multiply the said sum of Crowns by Lavers 1 3 4 d. per Crown which are the said 23⅓ Sols beginning the multiplication by the Deniers and then by the Sols which are with the Crowns and they will make Livers 848. 2. 4 d. And so much shall Placentia have Credit in Valentia Example Note Saragosa and Barselona the same as Valentia Note That when Placentia doth exchange with Barselona and Saragosa the account thereof is made up as the above-mentioned exchange from Placentia to Valentia Proof And the proof of the said Rule is apparent when that Valentia shall exchange back for Placentia CHAP. CCCXCIV Of the Exchanges of Placentia with Antwerp Exchanges of Placentia with Antwerp PLacentia doth exchange with Antwerp and giveth one Crown of Mark to have in Antwerp posito 124½ Grosses I demand for Crow 700. 15. 0. of Mark how many Livers of Grosses shall I have in Antwerp You must multiply the said sum of Crowns by 124½ Grosses per Crown and it maketh Grosses 87243 from which you must take 1½ to make them Sols and then it is 7270 and Gross 3. which reduced to Livers cutting off the last figure and by taking ½ of rest and it will make Livers 363 and the tenth that remaineth is worth 10 Sols and the 3 Gross And so much will the Credit appear to be in Antwerp As by Example Proof The proof of this Rule is seen when Antwerp doth rechange for Placentia CHAP. CCCXCV Of the Exchanges of Placentia with Bergamo Exchanges of Placentia with Bergamo PLacentia doth exchange with Bergamo and giveth 100 Crowns of Mark to have Crowns 123¼ posito more or less of Livers 7 per Crown I demand for Crowns 740. 4. 8. how many Livers credit shall I have in Bergamo To do which first multiply the said sum of Crowns of Mark by the said Crowns 123¼ and the remainders divide by 20 to keep account of the Sols and from the product cut off the two last figures which must be multiplyed by 20 and by 12 to make them Deniers and Sols of Gold and they shall be Crowns 912. 6. 8. which to reduce into Livers multiply by 7 Livers the value of the Crowns beginning to multiply the said 7 Livers by the Deniers 8 and then by the Sols 6 which are with the Crowns calculating for 12 Deniers one Sol and for 20 Sols one Liver and it maketh l. 6386. 6. 8. which must be had in credit at Bergamo Example Proof The proof of this Account is seen when Bergamo doth rechange this parcel for Placentia CHAP. CCCXCVI Of the Exchanges of Placentia with Lucca Exchanges of Placentia with Lucca PLacentia doth exchange with Lucca and giveth 100 Crowns of Mark to have in Lucca posito 117½ Crowns of Livers 7½ per Crown I demand then at this rate for Crowns 406. 10. 10. of Mark how many Crowns of li. 7½ shall I have credit in Lucca First multiply the said sum of Crowns of Mark by Crowns 117½ per cent and of the product cut off the two last Figures which multiplyed by 20 and by 12 to bring them into Sols and Deniers of Gold they will make Crowns 477. 13. 8. And so many Crowns of Livers 7½ per Crown shall I have at Lucca◠Example Proof The proof of this Exchange serveth to know how to make the account when Lucca exchangeth with Placentia being done by the Rule of Three saying If Crow 177½ give 100 Crow of Mark how much will 477. 13. 8. Crow give And it will be 406. 10. 10 Crow of Mark. And this is to be observed in the proof of the rest according to former mentioned rules CHAP. CCCXCVII Of the Exchanges of Placentia with Francfort Exchanges of Placentia with Francfort PLacentia doth Exchange with Francfort and giveth Crowns 100 of Mark to have here Crow 110½ of 93 Quarentines per Crown I demand then for 800 Crowns of Mark how many Florins of 60 Quarentines per Flor. shall I have
in Francfort Multiply the said Crow 800 by Crow 110½ per cent cutting off the two last figures the which multiply by 20 and by 12 to make them Sols and Deniers of Gold and it comes to 884 Crowns of Quarentines 93 the which to make Florins must be multiplied by 93 Quarentines and they are 82212 Quarentines from which cut off the last figure and take â…™ of the rest and they then do make Florins 1370 and the tenth remaining with the 2 Quarentines which is the figure cut off and it maketh 12 from which taking â…“ to make them Sols by reason that 3 Quarentines make one Sol and they are Florins 1370 and Sols 4 which is the credit that must be rendred in Francfort as shall appear by Example Proof The proof hereof appeareth when Francfort Exchangeth for Placentia And thus much shall serve for the Exchanges practised à Dritura from Placentia CHAP. CCCXCVIII Of Orders and Commissions given and received for Draughts and Remittances in Placentia Orders and Commissions given and received for Draughts and Remittances in Placentia ACcording to my method proposed I will here add some examples of Draughts and Remittances made by Order and Commission in this place of Placentia wherein I will somewhat enlarge my self by reason that it is the most noted and eminent place of Exchanges at this day practised in the World 1. Example To Placentia then is order given to remit to Venice at Duc. 134 or to Florence at Crowns 110½ where the benefit shall appear to be most that is to say that finding to remit to one of the said two places with benefit of the limited prices the remittance be made thither where most will be given and if the Remittance be found to be made with loss to that which will give the least For Florence then there is found at Crow 111â…– and for Venice at Duc. 135 I demand whither ought the Remittance to be made for to both the Remittance is found to be with profit And to know where the greatest gain will be I say by the Rule of Three If Duc. 134 give 110½ the inordered price what will 135 Duc. give The price found it will make Crow 111â…“ or circa so that there is more profit to make the Remittance to Florence because that remitting at Duc. 135 to make the Par the Remittance should be for Florence at Crow 111â…“ and the partido found is 111â…– Crow As in the following Example See Example Again at Placentia there is order received to remit to Antwerp at Grosses 123 or to Barselona at Sol ½ where the most advantage shall be found there is found a parcel for Antwerp at Grosse 120â…” and for Barselona at Sol 24 I would know to which must the Remittance be made seeing that in both places there is loss given upon the prices that are inordered and to know where is the least I say by the Rule of Three If Sols 24½ give Grosses 123 the price â—…ordered what will 24 Sols give the price that is found And it maketh Grosses 120½ so that the Remittance must be made for Antwerp by reason that remitting to Barselona at Sols 24 to make the Par the Remittance should be made to Antwerp at Grosse 120½ and it is found at 120 â— 3 CHAP. CCCXCIX Questions upon the Exchanges practised at Placentia Questions upon the Exchanges practised at Placentia AT Florence there is Exchange made for Placentia in expedition of the Fair posito at Crow 109½ and for Venice at Crow 81½ I would know by the said Exchanges at what price Placentia doth hereby exchange for Venice To do which say by the Rule of Three If 81½ Cro. of Gold of Florence give at Venice 100 Duc. of Livers 6â…• how many will 109½ Crow give the price of 100 Crow of Mark and it will make Duc. 134½ of l. 6â…• and at that price should Placentia exchange for Venice Where by the way it is to be noted That it is a thing evident that Exchanges are here made at greater or lesser prices according to the plenty or scarcity of money to be found and the rates uncertain these rules only serving for instruction to make up the accounts thereof Question for Venetia Again at Naples is Exchange made for Placentia in expedition of a Fair there at Duc. 136½ and for Venice at Duc. 101½ I would know by the said Exchanges at what prices should Placentia Exchange with Venice I say by the Rule of Three If Duc. 101½ of Naples give at Venice Duc. 100 at l. 6â…• how many will 136½ Duc. give the price of 100 Crowns of Mark and it will appear to make Duc. 134 11 24 and at that price should Placentia Exchange for Venice As by Example Question for Naples Again at Venice there is Exchange made for Placentia in expedition of a Fair at Duc. 133â…” and for Naples at Duc. 102â…” I demand by the said parties at what price should Placentia Exchange for Naples You must multiply the said Duc. 133â…” which is the value of 100 Crow of Mark by Duc. 102â…” per cent by reason that the said Duc. 102â…” are the value of 100 Duc. of Venice and thus wrought it will make Duc. 137â…• or thereabout and at that price should Placentia Exchange with Naples Question for Rome Again at Naples is Exchange made for Placentia in expedition of a Fair at Duc. 136â— and for Rome at Duc. 137 I demand by the said Exchanges at what price should Placentia Exchange with Rome I say then by the Rule of Three If Duc. 137 of Naples give at Rome Crow 100 of Gold of Estampe how many will Duc. 136½ give the price of 100 Crow of Mark and thus it will come to Crow 99â… or Circa of Gold of Estampe and at that price should Placentia Exchange with Rome Question for Florence Again at Rome is Exchange made for Placentia in expedition of a Fair there at Crow 99 and for Florence at Crow 90. I demand by the said Exchanges at what price should Placentia Exchange with Florence I say then by the Rule of Three If Crow 90. of Gold of Estampe give in Florence Crow 100 of Gold what will Crow 99. of Estampe the value of Crow 100 of Mark give It will be Crow 100 and at that price should Placentia exchange for Florence Question for Millan Again at Rome is Exchange made for Placentia in expedition of a Fair there at Crow 99 and for Millan at Crow 86 I demand by the said Exchanges at what prices should Placentia Exchange with Millan I say by the Rule of Three If Cro. 86 of Gold of Estampe give at Millan Cro. 100 of l. 5. 17. 0. what will Crowns 99 the price of 100 Crow of Mark give It will be Crow 115. 2 3. which being multiplied by Sol. 117 the price of the Crown in cutting the two last figures off its product to reduce the Exchange to the value of
the Crown of Mark there will remain Sol. 134â…” and at that price should Placentia Exchange with or for Millan Question for Genoa Again at Millan is Exchange made for Placentia in expedition of a Fair there at Sol 133½ and for Genoa at Sol 118â…” I demand by the said Exchanges at what price should Placentia Exchange for Genoa I say by the Rule of Three If Sols 118â…” of Millan the price of the Crown of 4 l. of Genoa give Sols 80 what will Sols 133½ give the price of the Crown of Mark in money of Millan and it will be 90 Sols of current money the which without making the reduction into money of Gold seeing it hath been already said that 90 Sols of current money is worth 68 Sol. of Gold and at this price should Placentia exchange with and for Genoa Question for Lions Again at Venice is Exchange made for Placentia in expedition of a Fair there at Duc. 141. and for Lions at 116½ I demand by the said Exchanges at what price should Placentia exchange for Lions I say by the Rule of Three If Duc. 141. of l. 6. â…“ of Venice give in Placentia Crow 100. how many will Duc. 116½ give the value of the Crow 100 of Gold of the Sun of Lions and it will be Crow 82â… or circa and at that price should Placcntia exchange with Lions Another At Placentia there is Exchange made for Lions at Crow 83½ and for Florence at Crow 113 and from that place we have advice that they exchange for Lions at Crow 95â…“ I would know by the said Exchanges if it be beneficial to remit from Placentia to Lions and to draw from Florence by inordering my Factors at Florence to prevail upon Lions at the said price of Crow 95â…“ To know which you must multiply the said Crow 83½ of Mark being the price of Crow 100 of the Sun of Gold by Crow 113. of Gold per cent seeing that the said Crowns of Gold are the value of 100 Crowns of Mark and from the product cut off the two last figures and there will remain Crow 94. 7. 1. to which adding â…– per cent for the provisions which are paid the one at Florence the other at Lions and they will be Crow 94. 19. 8. so that it will be profitable to draw and to remit according to the abovesaid order and manner because that at Florence may be taken by Exchange for Lions at Crow 95 or circa and finding Crow 95½ upon which consideration is to be had what the moneys of Florence may do by Exchange for Lions which thus I work by Example Now for the terms of payments of Bills of Exchanges in Placentia it is expressed in the Trade of that City in Chapter 383. And this shall suffice to have said of the Exchanges practised at Placentia where by reason of the great and continued practises here daily made for vast sums I have somewhat more than ordinarily inlarged my self and so I proceed to the next place of Exchanges which is Florence CHAP. CCCC Examples of Exchanges practised at Florence and how the same are to be calculated Exchanges practised in Florence I Have shewed in the general Exchanges of Florence with how many other places the said City is found to Exchange with and there also shewed the common rates how the same is observed to rule which every day is so subject to alter that no set price can be peremptorily set down for the same yet in it self it is so beneficial that thereby the ignorant may be furthered to make his Accounts either in Draughts or Remittances The way of making which Accounts upon this place now remaineth here to be handled observing the same with so many other places as may make a man capable to understand the same with any of the rest here omitted Accounts kept in Florence And by the way it is observable here That all Exchangers here do keep their Accounts in Crowns Sols and Deniers of Gold or Lire or Livers 7½ of that money per Crown the which are cast up by 20 and by 12 because that 20 Sols of Gold do make one Crown and 12 Den. one Sol. CHAP. CCCCI Of the Exchanges of Florence with Lions Exchanges of Florence with Lions FLorence then is found to Exchange with Lions and giveth posito Crow 95¾ of Gold to have in Lions 100 Crowns of the Sun of Gold I demand for Crow 1268. 9. of Gold how many Crowns of the Sun shall I have in Lions I say by the Rule of Three If Crow 95¾ give Crowns 100 what will Crowns 1268. 9. give And it comes to Crowns 1324 and the remainder of the division being multiplied by 20 and by 12 to bring them into Sols and Deniers of Gold they will make in all Crowns 1324. 15. of Gold of the Sun which I should have Credit in Lions for the said sum of Crowns of Florence The calculation thereof here followeth Proof The proof of this Rule is seen when Lions doth Exchange with Florence CHAP. CCCCII. Of the Exchanges of Florence with Placentia Exchanges of Florence with Placentia FLorence doth Exchange with Placentia and giveth posito 110½ Crowns of Gold to have there 100 Crowns of Mark I demand then for Crowns 4973. 1. 0. of Gold how many Crowns of Mark is due to me First reduce the said Crowns 110½ into Sols of Gold multiplying them by 20 adding to the multiplication 10 Sols for the half Crown and they make Sol. 2210 likewise reduce the said sum of Crowns of Gold into Sols and it will be 99461 Then say by the Rule of Three If Sols 2210 give Crow 100 of Mark what will Sol. 99461 give To which adding two cyphers for the 100 and then dividing it will come to Crowns of Mark and multiplying the rest of the division by 20 and then by 12 to make the same Sols and Deniers of Gold and they will make Crowns 4500. 9. 11. of Mark and so much must I have Credit in Placentia for the said Crow 4973. 1. 0. of Gold of Florence as by Example calculated Proof The proof of this Account is seen when the Exchange is made from Placentia to Florence c. CHAP. CCCCIII Of the Exchanges of Florence with Venetia Exchanges of Florence with Venice FLorence doth Exchange with Venice and giveth posito Crow 81½ of Gold to have Duc. in Banco 100 of Livers 6â…“ I demand then for Crow 2037. 10. of Gold how many Duc. shall Florence have credit in Venice To do which bring the Crow 81½ into half Crowns multiplying them by 2 and so in the same manner the said sum of Crow of Gold adding half a Crown for the 10 Sols then say by the Rule of Three If the half Crowns produced of the price of the Exchange give at Venice Duc. 100 what will the half Crowns give proceeding from the said sum of Crow of Gold and so by adding two cyphers for the
100 and dividing the same it will make Duc. 2500 which Florence is to have in Venice and if there were any remaining of the division they must be multiplied by 24 to make them Grosses because that 24 Gross make a Duc. of Lib. 6. 4 Sols Example Proof The proof of the said Account is more evident when Venice doth rechange for Florence CHAP. CCCCIV Of the Exchanges of Florence with Rome Exchanges of Florence with Rome FLorence is said to Exchange with Rome and giveth 100 Crowns of Gold to have in the said place posito Crowns 92¼ of Gold of Estampe I demand then for Crow 1600 2 Sols 5 Den. of Gold of Florence how many Crowns of Gold of Estampe shall Florence have credit for in Rome First multiply the said Sum of Crowns of Gold at 92¼ per cent and multiply the remainder by 20 and by 12 to bring them into Sols and Deniers of Gold and they make Crowns 1476 2 Sols 2 Den. of Gold which should be had in Rome As for Example Proof The Proof of the said Rule is evident when this parcel is rechanged from Rome to Flounce CHAP. CCCCV. Of the Exchanges of Florence with Naples Exchanges of Florence with Naples FLorence Exchangeth with Naples and giveth Crow 100 of Gold to have in Naples posito Duc. 119⅔ of Taries 5 per Duc. I demand then for Crow 780. 15 of Gold what credit in Duc. shall Florence have in Naples To do which first multiply the said sum of Crow of Gold by Grains 119⅔ per Crown because it is so many Grains per Crow as it comes to be Duc. for Crow 100. and they make Grains 93429. of which cut off the two last figures to make them Ducats saying that the Duc. is worth 100 Grains and they make Duc. 934. and for the Grains 29 Taries 1 and Grains 9. And so much Credit shall Florence have in Naples as by this Example is shewed Proof The proof of this Rule is manifested when Naples is seen to exchange with Florence CHAP. CCCCVI Of the Exchanges of Florence with Antwerp Exchanges of Florence with Antwerp FLorence doth Exchange with Antwerp and giveth one Crown of Gold to have in the said place Groff 112½ posito I demand then for Crowns 1400. 12. 8. of Gold how many pounds of Groff am I to have in Antwerp To do this multiply the said sum of Crowns by the said price of Gross 112½ and it maketh Grosses 157571. of which take the 1½ to make them Sols and they make Sols 13130 and Gross 11. which to reduce to pounds cut off the last figure of the said Sols or Shillings and take ½ of the rest and it maketh pounds 656 and for the tenth that is remaining it is to be accounted 10 Sols and if the figure cut off had been any number it should have been added to the 10 Sols and it thus makes pounds 656. 10. 11. Money of Antwerp Proof The proof of the said Account is seen when that Antwerp doth exchange with Florence Note Florence with London Note That when Florence doth Exchange for London which is seldom in use the rule of casting up the same in sterling Money is this as above with Antwerp in Flemish Pounds CHAP. CCCCVII To Reduce Crowns of 7 l. in Florence into Crowns of Gold of Lire 7½ IF in Florence you would reduce any sum of Crowns of money of Lire 7 l. per Crow into Crowns of Gold of Lire 7 l. ½ you must take the 1⅕ of the Crow of money and the remainder will be Crowns of Gold And if again you would reduce Crowns of Gold into Crowns of Money you must add contrarily to the Crow of Gold 1¼ and they will be so many Crowns of Money As for Example CHAP. CCCCVIII Of the Terms of Payment of Bills of Exchange in Florence THE Term of Payment of Bills of Exchange is found to be from Florence To Naples at 10 days sight and from thence at 15 days sight To Rome at 10 days sight and so back To Venice at 5 days sight and thence at 20 days after date To Bollonia at 3 days sight and so back and so for Pisa To Ferrara at 5 days sight and so back To Perugia and Sciena at 2 days sight and so back To Genoa at 8 days sight and so back To Avignon at 30 days after date and thence 45 days after date To Gaietta at 10 days sight and so back To Paris 2 months after sight and so back To Padua at 5 days sight and so back To Palermo and Mesina at 15 days sight and so back To Ancona at 10 days sight and so back To Barselona at 2 months after date and so back To Valentia at 40 days sight and so back To Bruges and Antwerp at 2 months after date and so back To London at 3 months after date and so back To Genoa at the Fairs and thence 15 days sight back To Lions to the Fair and from Fair to Fair. To Millan at 10 days fight and so back To Aquila and Sermona at 11 days sight To Comerino at 8 days sight and so back CHAP. CCCCIX. Of Orders and Commissions given and received for Draughts and Remittances by Exchanges in the City of Florence in Tuscany Orders and Commissions given and received for Draughts and Remittances by exchange in Florence ACcording to my proposed method I will here set down an Example or two of Draughts and Remittances made by Order and Commission in Florence 1 Example To Florence then cometh advice from Venice that the Exchange for the said place of Florence cometh at Crow 80½ and for Placentia at Duc. 135½ they inorder in the said place of Venice That at this rate they make a Remittance to Florence and draw from Placentia at how much then will the Draught of Florence for Placentia come unto To do this Multiply Duc. 135½ which is the value of 100 Crow of Mark by Crow 80½ of Gold per cent because the said Crow of Gold is the rate of the Duc. 100 of Venice and it will be Crow 109. 19. from which take 2 ◠per cent for the provision payed at Venice and there will rest Crow 108. 12. 10. and so many Crow of Gold is imbursed at Florence for 100 Crow of Mark for a debt at Placentia As thus for Example 2 Example Again one of Venice is Creditor in Florence Crow 3000 of Gold who inordereth that the same be remitted unto him at Crow 81½ or by Placentia at Crow 110 where the most advance and profit shall appear to be that is to say That finding a Remittance in both places to benefit of the price limited the Remittance should be where the profit and benefit is greatest and finding the Remittance to loss the Remittance be made where the damage is least there is then Bills found for Venice at Crow 82¼ and for Placentia at Crow 110⅚ I demand by which of the two
should the Remittance be made By both the said places there is found a delivery to loss and to know which of the two is the least say by the Rule of Three If Crow 81½ give Crow 110 the price limited what will Crow 82¼ the price found give and it will come to Crow 111. 0. 2. So that the Remittance should be made by Placentia because that remitting to Venice at Crow 82¼ to run at the Par the delivery should be for Placentia at Crow 114. and the Bills is at Crow 110⅙ As in the following Example 3. Example Again one of Rome is debitor in Florence in Crow 2500 who inordereth that the draught be made at Crow 91 or by Placentia at Crow 110½ where the most profit shall appear to be now there is found money for Rome at Crow 92◠l. for Placentia at 109⅙ Crow I demand whither should this draught be made seeing that to both the places the draughts happen to be to loss in both the limited prices And to know which is the least of both say by the Rule of Three If Crow 92⅕ the price found for Rome seeing that Placentia receiveth the uncertain rate from Florence give Crow 110½ what will Crow 91 the price inordered give It will make Crow 109. 1. 2. so that the draught shall be made for Placentia seeing that drawing for Rome at Crow 92◠to run upon a Par should be taken for Placentia at the said price at Crow 109½ or thereabout and there is found at more that is at Crow 109⅙ As by Example And so much shall suffice to have said of the Orders and Commissions in Draughts and Remittances by Exchange of Florence CHAP. CCCCX Examples of Exchanges practised at Millan and how the same are to be calculated Exchanges practised at Millan I Have shewed in the general Exchanges of Millan with how many other places this City is found to Exchange and there also set down the common current rates thereof which every day is found so to alter and no positive rule can be observed in the same yet is in it self so beneficial that thereby the unexperienced may know how to make his Accounts either in his Draughts or Remittances the way of framing these Accounts now remaineth observing the same with some few other the principal needful hereunto Accounts kept in Millan It is also to be noted That Exchangers do there keep their Accounts in Lire Sols and Deniers and cast up by 20 and 12 because that 20 Sols do make a Lire and 12 Deniers a Sol. CHAP. CCCCXI Of the Exchanges of Millan with Lions Exchanges of Millan with Lions MIllan then exchanges with Lions and giveth posito Sols 118⅓ to have in the said place one Crown of the Sun of Gold I demand then for l. 9258. Sol. 5 of Millan how many Crowns shall I have credit in Lions First reduce into Sols the said sum of Livers of Millan and they make Sols 185165 the which must be multiplied by 3 to make them thirds of Sols likewise bring the Sols 118⅓ into thirds multiplying them by 3 and they make 355 for division of the said sum and by division it will come to be Crowns and multiplying the remainder of the division by 20 and 12 to make them Sols and Deniers of Gold and they will be Crowns 1564. 15. 5. of Gold of the Sun and so much will be had in Lions for the said sum of li. 9258. 5 of Millan Money as by this Example Proof The Proof of the said Account is seen when that Lions exchangeth with Millan as before CHAP. CCCCXII Of the Exchanges of Millan with Placentia Exchanges of Millan with Placentia MIllan doth exchange with Placentia and giveth posito Sols 133⅓ to have in Placentia one Crown of Mark I demand then for Livers 9671. 16. 8. of Millan how many Crowns of Mark must I have in Placentia First reduce into Deniers the said 133⅓ Sols multiplying them by 12 and adding 4 Deniers for the ⅓ of a Sol. and they make Deniers 1600 and then to reduce into Deniers the said sum of Lire multiply them by 20 and by 12 adding to the multiplication Sol. 16. and Deniers 8 which account with the Livers and they make Deniers 2321240 the which must be divided by Deniers 1600 the price of the Crown of Mark and by division they will come to be Crowns multiplying the rest of the division by 20 and then by 12 to make them Sols and Deniers of Gold and they make Crow 1450. 15. 6. of Mark and so much will the said sum be in Placentia Example Proof The Proof of the said Rule is manifested when that Placentia exchangeth for Millan CHAP. CCCCXIII Of the Exchanges of Millan with Venice Exchanges of Millan with Venice MIllan exchangeth with Venice and giveth a Crown of Livers of 5. 17 s. to have in that place posito 148 l. ½ Sols money of Piccoli I demand for l. 7260. 10. 0. of Millan how many Ducats of l. 6⅕ shall I have in Venice You must divide the said sum of Livers by Livers 5. 17. reducing them and the other price into Deniers and it will be Crow 1241. 0. 9. the which must be multiplied by l. 7. 8. 6. the Crown which are the abovesaid 148. 6 beginning to multiply the l. 7. by the Den. 9. 4. then by the Sols if there were any with the said Crowns calculating for Deniers 12 one Sol and for Sols 20 one Lire and they will be l. 9214. 14. money of Piccoli of Venice which to be reduced into Ducats must be divided by l. 6⅕ the value of the Ducat and it will make Duc. 1486 ◠24 of l. 6◠and so much shall I have in Venice for the sum above mentioned in Livers of Millan as by Example is more apparent Proof The proof of the said account is seen when Venice doth exchange for Millan CHAP. CCCCXIV Of the Exchanges of Millan with Rome Exchanges of Millan with Rome MIllan exchangeth with Rome and giveth posito Crow 115½ of l. 5. 17. per Crow to have in the said place Crow 100 of Gold of Estampe I demand then for l. 7820. 18 of Millan how many Crowns of Gold of Estampe shall I have in Rome You must first see for the said sum of Millan Livers how many Crowns they will be dividing them by l. 5. 17 per Crown and they make Crown 1336. 18. 1 then say by the Rule of Three If Crow 115½ of Millan give in Rome Crowns 100 of Estampe how many Crowns will the said Crow 1336. 18. 1. give and it will amount to Crowns 1157. 9. 9. of Gold of Estampe which will be given in Rome for the said sum of Millan Livers as abovesaid Example Proof The Proof of this Rule is seen when that Rome doth exchange with Millan CHAP. CCCCXV. Of the Exchanges of Millan with Naples Exchanges of Millan with Naples MIllan doth exchange with Naples
and giveth Crow 100 of l. 5 per Crow to have in Naples posito 98½ Ducats I demand for l. 4314 14 2 of Millan how many Ducats shall I have in Naples First take â…• of the said sum of Livers to reduce them into Crow of 5 l. and they make Crow 862. 18. 10. which must be multiplied by grains 98½ per Crow seeing it is the same as at Ducats 98½ per 100 Crow and it makes grains 84999 and cutting off the two last figures there will remain Ducats 849 and for the two figures cut off which are grains 99 will be Livers 4 grains 19 in all Ducats 849. 4. 19. which is to be had in Naples for the said sum of Livers of Millan As for Example Proof The Proof of the said Account is seen when Naples shall exchange with Millan CHAP. CCCCXVI Of the Exchanges of Millan for Genoa Exchanges of Millan with Genoa MIllan exchangeth with Genoa and giveth posito Sols 118½ to have in Genoa one Crown for 4 l. of that money I demand for l. 5703. 18. 0 of Millan how many Livers of current Money shall I have in Genoa First reduce the said sum into Sols multiplying them by 20 and adding to the multiplication the 18 Sols which account with the Livers and then of the Sols produced and of the said Sols 118½ taken for division bring into ½ Sols and dividing the same will become Crowns and the remainder of the Division multiply by 20 and by 12 to make them Sols and Deniers of Gold and they will make Crowns 962. 13. 8. of l. 4. money of Genoa the which to bring into Livers must be multiplied by l. 4. per Crow beginning to multiply the said l. 4. by Deniers 8 and by the Sols 13 which are with the Crowns calculating for 12 Deniers 1 Sol and for 20 Sols one Liver it will come to l. 3850. 14. 8. and so many Livers of money current shall you have in Genoa for the said Livers 5703. 18. of Millan Proof The Proof of the said Rule is seen when that Genoa doth exchange for Millan CHAP. CCCCXVII Of Terms of Payment of Bills of Exchange in Millan Terms of payments of Bills of Exchange in Millan THE Terms of Payment found to be in Millan are observed to be from thence To Genoa at 5 days sight and so back To Pisa at 10 days sight and so back To Florence at 10 days sight and so back To Venice at 10 days sight and so back To Paris at 2 months after date and so back To Bruges and Antwerp at 2 months after date and so back To Barselona at 20 days sight and so back To Montpellier at 20 days sight and so back To Lions for a Fair and so from Fair to Fair. And thus much shall serve to have spoken of the Exchanges of Millan and now to Orders and Commissions in use in the said place CHAP. CCCCXVIII Of Orders and Commissions given and received for Draughts and Remittances Orders and Commissionâ— given and received for Draughts and Remittances in Millan ACcording to my proposed method I will here briefly insert some Examples of Draughts and Remittances made here by Order and Commission from other places 1 Example From Naples then cometh Order to Millan to remit for Placentia at 133 Sol. and to prevail for Genoa at Sol. 118½ the parcel being for 3000 Crowns of Mark. Now there are Bills found for Placentia at Sols 131. considering then the benefit which is found in the Remittance at how much may the Draught be for Genoa Say by the Rule of Three If Sol. 133 give 118½ the price inordered what will 131 give the price found for Placentia And it will be Sol. 116â…” and at this price the Draught must be made for Genoa in remitting to Placentia at Sol. 131 and the Commission will remain effected according to the Order given 2 Example Again from Lions is order given to Millan that they may draw for Lions at Sol. 118 and reâ—it to Venice at Sol. 145 the parcel being for Duc. 5500 of l. 6â…“ per Duc. there is money for Lions at Sol. 119 and Bills for Venice at Sol. 144â…“ I demand if at these prices the order may be performed Say by the Rule of Three taking one of the prices which is found for divisor by reason that Millan giveth according to my former method the certain price to Venice and the uncertain to Lions and say If 144â…“ the price found for Venice give Sol. 118 what will 145 the price inordered give And it will make 118½ so that the said Commission at the prices found may be effected to benefit because that remitting to Venice at the said price of 144â…“ the Draught may be made for Lions at 118½ and there is money found at Sol. 119. As by Example 2 Example Again from Rome cometh Order to Millan to draw on them at Crow 115 and remit to Plaâ—…ntia at 132 Sol the party being for Crow 4000 there is Bills found for Placentia at Sol. 133½ and mo for Rome at Crow 11. 6â…” I demand if at these rates the Commission may be performed without loss Say by the Rule of Three If Sol. 132 give Cro. 11. 5. tho price limited what will 133½ give the price found for Placentia And it will come to Crow 116. 6. 1. so that the Commission may be performed to benefit because that remitting to Placentia at the said price of Sol. 133½ the Draught may be made for Rome at Crow 116 3 18 and there is found at more that is to say at Crow 116â…– as per Example And thus much shall serve for the Exchanges of Millan next is Palermo and Mesina CHAP. CCCCXIX Of Exchanges practised in Palermo and Mesina and how the same are to be calculated Exchanges practised in Palermo and Mesina I Have shewed in the general Exchanges of Palermo and Mesina with how many other places these Cities in Sicilia are observed to Exchange and there also set down the common current Rates thereof which every day are found so subject to alteration that no positive rule can be observed in the same yet it is in it self so beneficial that thereby the unexperienced may know how to make his calculation both in his Draughts and Remittances The way of casting the sum up is now to be handled observing the same here with some few principal places which is sufficient for instruction to those others omitted Accounts kept in Sicilia First it is to be noted that in Palermo and Mesina and generally throught the Island of Sicilia the Exchangers keep their Accounts in Ounces Taries and Grains which are cast up by 30 and 20 because that 30 Taries do make an Ounce and 20 Grains make a Tarie And also it is to be observed That the Ducat is worth Taries 13 which is Carlins 26 the Crown of money is worth Taries 12 which is Carlins 24. The Florin is worth Taries 6 which is
Carlins 12. So that the Tarie is 2 Carlins The Carlin is 10 Grains The Grain is 6 Picolis CHAP. CCCCXX Of the Exchanges of Palermo and Mesina with Lions Exchanges of Palermo and Mesina with Lions PAlermo and Mesina doth Exchange with Lions and giveth posito 28 Carlins to have in Lions a Crown of the Sun I demand then for ounces 2189. 25. 17 how many Crowns must I have in Lions First multiply the ounces by 30 to make them Taries adding thereto the 25 Taries and multiply the Taries that will come thereof by 20 to bring them into Grains and add thereto 17 which are with the ounces and then they will be Grains 1313917 do the same likewise with the 28 Carlins multiplying them by 10 because the Carlin is worth 10 Grains and they will be 280 Grains the which must be taken for divisor against the said Grains come from the ounces 2189. 25. 17 and from the division will come Crowns of the Sun and multiplying the remainder by 20 and then by 12 to make them Sols and Deniers of Gold and they will be Crow 4692. 11. 2 As for Example Proof The proof of this account is seen when that Lions shall Exchange back with Palermo and Mesina CHAP. CCCCXXI Of the Exchanges of Palermo and Mesina with Placentia Exchanges of Palermo and Mesina with Placentia PAlermo and Mesina Exchange for Placentia and give posito Carlins 29½ to have in the said place one Crown of Mark I demand then for ounces 1180 Taries 7 and Grains 19 how many Crowns of Mark shall I have in Placentia Herein do as in the precedent account multiplying the said ounces by 30 to make them Taries and add the 7 which are with the ounces and then multiply the said Taries by 20 to make them Grains and add the 19 and they will be Grains 7081. 59. do the same with the 29½ Carlins multiplying them by 10 to being them into Grains adding 5 for the ½ Carlin and they make 295 grains the which taken for divisor against the sum of Grains come of the ounces 1180. 7. 19 and of the division will come Crow of Mark multiplying the remainder by 20 and then by 12 to make them Sols and Deniers of Gold and they make Crow 2400. 10. 9. and so many Crow of Mark shall I have in Placentia for the said sum of Ounces Proof The Proof of the said Rule is seen when that Placentia doth exchange either for Palermo or Mesina CHAP. CCCCXXII Of the Exchanges of Palermo and Mesina with Naples Exchanges of Palermo c. with Naples PAlermo and Mesina doth Exchange with Naples and gives posito Pomitos 166½ of 8 Picolis to have one Ducat of 5 Taries I demand then for Ounces 1053 Taries 6 and 2 Grains how many Ducats must I have First multiply the said sum of Ounces by 30 to make them Taries and then by 20 to make them Grains adding to the multiplication 6 Taries and 2 Grains which accompany the Ounces and then they make Grains 631922 out of which to make them Pomitos take out the ¼ because that the Grain is worth 6 Picolis and the Pomito is worth 8 Picolis of which the 2 Picols overplus is the ¼ of 8 and then they make Pomitos 473942 which must be divided by the said 166½ the price of the Exchange reducing them into ½ Picolis both on the one and on the other side and by division they will make Ducats of Naples multiplying the remainder by 100 and adding of two Cyphers to bring them into Grains because that the Ducat is 100 Grains and the same will be Ducats 2846 and for the Grains 49 Tarics 2 and Grains 9 of Taries 5 per Ducat which is to be rendred at Naples for the said sum of Ounces of money of Palermo Example Proof The proof of this account is seen when that Nuples doth Exchange for either Palermo or Mesina CHAP. CCCCXXIII Of the Exchanges of Palermo and Mesina with Venice Exchanges of Palermo c. with Venice PAlermo and Mesina doth Exchange with Venice and giveth one Crown of 12 Taries to have in Venice l. 6. 18 posito I demand for ounces 1486 26. 10 what credit in Ducats shall I have in Venice of l. 6⅕ per Ducat First reduce the said Ounces into Crowns of 12 Taries multiplying them by 30 to make them Taries adding to the multiplication the 26 Taries which are with the ounces and they make Taries 44606 out of which take 1 12 and they then make Cro. 3717 Taries 2 and Grains 10 which must be multiplyed by 138 Sol per crow which are the said l. 61. 8 and they make Sols 512974¼ which must be divided by 124 the price of the Ducat and it will make Ducats 4136⅞ and so much shall I have in Venice for the said sum of ounces in Palermo or Mesina Example Proof The proof of this Rule is to see if 4136 21 24 Duc. of l. 6⅕ of Venice make the said sum of Ounces 1486. 26. 10. of l. 6. 18 money of Venice for one Crown of 12 Taries in Palermo or Mesina as abovesaid CHAP. CCCCXXIV Of the Exchanges of Palermo and Mesina with Barselona Exchanges of Palermo c. with Barselona PAlermo and Mesina Exchanges with Barselona and giveth one Florin of 6 Taries money of Palermo to have in Barselona posito 10½ Sols money current of Barselona I demand then for 300 ounces what credit in Livers is due for the same First multiply the said ounces by 5 to make them Florins the ounce being accounted 5 Florins and it makes 1500 Florins the which multiplied by 10½ Sols per Florin make Sols 15750 which to reduce to Livers you must cut off the last figure and take ½ of the rest and it will be l 787. 10 which is due at Barselona Proof For the proof of the said Rule as above divide the said Livers l. 787. 10 by 10½ Sol. to make them Florins and it is 1500 Flor. and if there were any remainders they should be multiplied by 6 and then by 20 to bring them into Taries and Grains and for to reduce the said 1500 Flor. into ounces you must take ⅕ for that 5 Flor. make one ounce and it will come to 300 ounces the Rule thus appearing right and just Palermo and Mesina with Saragosa and Valentia And for the Exchanges of Palermo and Mesina with Valentia and Saragosa it is cast up as above we therefore need not insist further as being easily comprehended CHAP. CCCCXXV Of Orders and Commissions given and received for Draughts and Remittances in Palermo and Mesina Orders and Commissions given and received for Draughts and Remittances in Palermo and Mesina ACcording to my proposed method I will here briefly insert some examples of Draughts and Remittances made by Order and Commission in Palermo and Mesina from other places At Mesina the Exchange for Lions is found to go at
Carlins 28 and for Placentia at Carlins 33 and from hence there is an exchange for Lions at Crow 81½ I demand if at these prices there will be a benefit to remit from Mesina to Placentia and draw for Lions to remit from Placentia to the said Lions at the said price of Cro. 81½ Say by the Rule of Three If Carlins 33 the value of a Crown of Mark to reduce the exchange to the value of 100 Crow give 100 Crow of Mark what will 28 Carlins give the value of the Crown of the Sun And it will be Crow 84 11 20 out of which must be abated â…” per cent for provision payable â…“ at Lions and another â…“ at Placentia and there will remain Crow 84 3 10 and at this price the remittance may be made from Placentia to Lions to satisfie that debt and finding to remit at less that is at Crow 81½ it appeareth plainly to be to profit to draw and to remit according to the aforesaid Order in which also lies this consideration that the money of Placentia for Lions may also vary from the said price Example 1 Example Again from Venice there is Order given to Mesina to draw upon them at l. 6. 14 and to remit to Placentia at Carlins 29 the partido being for Crowns 2000 of Mark. Now there are Bills for Placentia found at Carlins 29½ and money for Venice at l. 6. 12. 6 I demand if at these prices the said Commission may be effected Say by the Rule of Three taking one of the prices that is found for divisor because that from Mesina to Venice it giveth the price certain and to Placentia the incertain saying thus If Carlins 29½ the price found for Placentia give Sol. 134 which are the said l. 6. 14. what will Carlins 29 give the price inordered And it will make Sol. 131¼ or thereabout so that the said Commission may not be effected but to loss seeing that remitting to Placentia at the said price of 29½ Carl the draught cannot be made to Venice at more than Sol. 131¼ and money is not found but at Sol. 132½ which are the said l. 6. 12. 6 d. Example 2 Example Again from Naples there is an exchange made for Mesina at Duc. 118 1 31 and for Placentia at Duc. 132â…“ Now there is order given in Naples that at these rates they draw for Mesina and that they remit to Placentia I demand then at how much will the remittance be from Mesina to Placentia Say by the Rule of Three If grains 118â…“ make disbursed in Mesina Carl. 26 the price of the Crow of Taries 13 how many will 132â…“ grains disbursed be the value of the Crow of Mark It will make Carlins 29 and â…” of a grain and so many Carlins and then â…– per cent for the provision that is paid at Naples comes to be disbursed in Mesina for one Crown of Mark of credit in Placentia And thus much shall serve to have said of the Exchanges that are practised in Palermo and Mesina to which the whole Island of Sicilia hath reference CHAP. CCCCXXVI Of Examples upon the Exchanges that are practised in Barselona and how the same are calculated Exchanges practised in Barselona I Have shewed in the general Exchanges of Barselona how many other places Barselona is found to Exchange with and there also set down the common rates how the same for the most part is found to govern which every day is so subject to alter that no positive Rules can be set down for the same howbeit the same is in it self so available that thereby the unexperienced may know how to make the account thereof at what rate soever the Exchange is found to be either in remittance or draughts the which only now remaineth to be handled observing the same with so many other Towns as may be fittest to understand the ground thereof Accounts kept in Barselona It is then to be noted That Bankers and Exchangers here do keep their accounts in Lire Sold and Deniers which are cast up in 20 and 12 because that 20 Sols makes a Liver and 12 Deniers make a Soldo and it is to be noted that The Ducat is worth sold 24 The Crown is worth sold 22 The Rial is worth sold 02 Note concerning the exchanges practised in Valentia and Saragossa Sevil and Lisbon Note also here that the same order which is observed in the Exchanges which are made in this City of Barselona with the other places of Spain should be observed in the Exchanges which are made in Saragosa Valentia Sevil and Lisbon seeing that when the said places of Spain Exchange the one with the other always that place which Exchangeth giveth Duc. 100 to have the more or the less and therefore the money of the place where the Exchange is made must first be reduced into Ducats and multiplying the Ducats which come thereof which are of the place to which it Exchangâ—th by the price it is worth for to reduce the same into the money wherein their accounts are there kept and this considered to abreviate my labour the rules being easie I shall forbear to trouble my self with any further particulars concerning the said place of Valentia Saragossa Sevil and Lisbon CHAP. CCCCXXVII Of the Exchanges of Barselona with Lions Exchanges of Barselona with Lions BArselona doth Exchange with Lions and giveth posito Sols 22. 8 to have in Lions one Crown of the Sun of 3 l. I demand for l. 8865. 12. 10 how many Crow am I to have in Lions First reduce the said sum of Livers into Deniers multiplying the same by 20 and adding of 12 Sols and then by 12 and adding 10 Deniers then reduce into Deniers the said Sol. 22. 8. d. and they make 272 for divisor against the sum of Deniers come of the said Livers and multiplying the rest of the divisor by 20 and by 12 to make them Sols and Deniers of Gold and they make Crowns 7822. 12. 6 Of Gold of the Sun which is due to have in Lions Example Proof The proof of this account is manifested when that Lions doth Exchange for Barselona CHAP. CCCCXXVIII Of the Exchanges of Barselona with Placentia Exchanges of Barselona with Placienta BArselona doth Exchange with Placentia and giveth posito Sols 23 2 12 to have there a Croâ—… of Mark I demand for Livers 1850. 12. 0. how many Crow of Mark shall I have First reduce the said sum of Livers into Deniers multiplying them by 20 to make them Sold and add the 12 and then by 12 to make them Deniers and do the same with the Sols 23 â— 12 multiplying them by 12 and adding thereto 7 Deniers the Deniers come thereof are to be taken for divisor against the Deniers come of the said Livers and by division they will come to Crow of Mark multiplying the rest by 20 and by 12 to make them Sols and Deniers of Gold and then they make Crow 1569. 8.
3 of Mark which is due to be had in Placentia for the said sum of Barselona Proof The proof of this Rule is apparent when that Placentia doth Exchange for Barselona CHAP. CCCCXXIX Of the Exchanges of Barselona with Saragosa Exchanges of Barselona with Saragosa BArsclona exchangeth with Saragosa and giveth 10 Ducats of 24 Sol. per Ducat to have in this place posito 104 Ducats of Sols 22 per Ducat of that money I demand for Livers 6000 of Barselona how many Livers shall I have in Saragosa First reduce into Sols the said sum of Livers multiplying them by 20 and divide the Sols coming thereof by Sol. 24. the price of the Ducat and it will be Ducats 5000 the which Duc. 5000 of Barselona must be multiplied at the said price of Duc. 104 per cent and from the sum cut off the two last sigures the which multiplied by 20 and by 12 to make them Sols and Deniers of Gold will be Duc. 5200 of Sâ—ragosa which must be multiplyed by l. 1. 2 Sol. the price of the Ducat and they make Livers 5720 which should be rendred in Saragosa for the said 6000 l. money of Barselona Proof The proof of this Rule is manifest when that Saragosa doth again rechange back for Barselona CHAP. CCCCXXX Of the Exchanges of Barselona with Valentia Exchanges of Barselona with Valentia BArselona doth Exchange with Valentia and giveth Duc. 100 of 24 Sols to have in Valentia posito Duc. 108 of Sols 21 per Duc. of that money I demand for l. 7000 money of Barselona how many l. shall I have in Valentia In this you must do as in the preceding account of Barselona for Saragosa multiplying the Ducats of Valentia which shall come thereof by Livers 1 1 the price of the Ducat and it will be Livers 16615 and so much will be due in Valentia for 7000 l. delivered in Barselona Proof The proof of this Rule is apparent when that Valentia doth rechange for Barselona CHAP. CCCCXXXI Of the Exchanges of Barselona with Sevil. Exchanges of Barselona with Sevil. BArselona doth exchange with Sevil and giveth Duc. 100 of 24 Sol. per Duc. to have in this place Duc. 108 posito more or less of Marvedes 375 per Ducat I demand for l. 7500 how many Marvedes must I have in Sevil You must do as in the precedent Rule of Barselona for Valentia multiplying the Ducats of Sevil which come thereof by Marvedes 375 the price of the Duc. and it will make Marvedes 2531250 which is due to have in Sevil for the said sum of 7500 l. in Barselona Example Proof The proof of this Rule is manifested when that Sevil doth rechange for Barselona CHAP. CCCCXXXII Of the Exchanges of Barselona with Lisbon Exchanges of Barselona with Lisbon BArselona doth exchange for Lisbon and giveth Duc. 100 of 24 Sols per Duc. to have in Lisbon Ducats posito 113 of 400 Raes per Duc. I demand for 4000 l. of Barselona how many Racs shall I have in Lisbon Here you must do as in the account precedent of Barselona for Sevil multiplying the Ducats of Lisbon which shall come thereof by 400 Raes per Duc. and they make Raes 1506666 which is due to be had in Lisbon for l. 4000. in Barselona Example Proof The proof of this Rule is apparent when that Lisbon doth rechange back for Barselona CHAP. CCCCXXXIII Orders and Commissions given and received for Draughts and Remittances in Barselona Orders and Commissions given and received for Draughts and Remittances in Barselona ACcording to my proposed method I will here briefly insert some Examples of Draughts and Remittances made in this City by Order and Commission from other places 1 Example To Sevil then cometh Order from Barselona to draw upon them at Duc. 93½ and remit to Placentia at Marvedes 413 clear of all charges the partido being for Crow 3000 of Mark. Now there is found money for Barselona at duc 93 and Bills for Placentia at Marvedes 413 I demand if at these rates the Commission may be accomplished and performed You must say by the Rule of Three taking one of the prices which are found for divisor because that Sevil giveth to Barselona the certain and to Placentia the incertain price saying If duc 93 the price found for Barselona give Marvedes 413 what will duc 93½ give the price inordered and it maketh vedes 415â…• out of which deduct â…– per cent for Provision which is taken there will remain Marvedes 413 11 20 incirca so that the said Commission may be effected to profit seeing that drawing to Barselona at the said price of Duc. 93 it may be delivered for Placentia at Mar. 413 20 21 and there present Bills at less that is at 413 Marvedes as by Example 2 Example Again in Barselona cometh Order from Valentia that Remittance may be made to them at Duc 108¼ and to prevail from Placentia at Sol. 23 the Partido made for 3000 Crow Mark Now there is Bills found for Valentia at Duc. 107 I demand then for the loss that is given by the Remittance at what price may the Draught be made for Placentia Say by the Rule of Three taking one of the prices found for Divisor because then Barselona giveth the certain to Valenria and the uncertain price to Placentia saying if Duc. 107 the price found for Valentia give Sol. 23. what will Duc. 108¼ give being the price inordered and it will come to Sols 23¼ and at less price cannot be drawn for Placentia remitting to Valentia at Duc. 107. Examples CHAP. CCCCXXXIV Of the Terms of Payments of Bills of Exchange in Barselona Terms of payment of Bills of Exchange in Barselona c. THE Terms of Payment found accustom'd in Barselona is noted to be thence To Venice at 2 months after date and so back To Florence at 2 months after date and so back To Avignon at 18 days sight and so back To Bruges and Antwerp at 50 days after date and so back To Genoa at 20 days after date and so back To Lisbon at To Sevil at To Saragosa at To Valentia at To Lions for the Fair and so from Fair to Fair To Placentia and from Fair to Fair. And thus much shall serve to have said of the Exchanges in general practised in Barselona Valentia Saragosa Sevil and Lisbon in Portugal CHAP. CCCCXXXV Examples of Exchanges practised in Antwerp and how the same are to be calculated Exchanges practised in Antwerp I Have shewed before in the general Exchanges of Antwerp with how many other places this City is found to exchange and there also observed the common current rates thereof which in it self is found every day so subject to alteration that no positive rule can be set down therein however the same is so beneficial to the unexperienced that he may easily make his calculation thereby either in his Draughts or his Remittances there resteth now to be
price of 90 Gross per Ducat and of the Grosses which shall come thereof you must cut off the two last sigures and there will remain Gross 121½ and so many Gross and ⅖ more per cent for provision which is payable in Venice is disbursable in Antwerp for one Crown of Mark in credit in Placentia 2 Example Again at Venice is Exchange found for Antwerp at gro 90⅓ and for London at 56 pence sterling there is hereupon Order given to Venice that at these prices they draw for Antwerp and remit to London the question is At what price will the Remittance be from Antwerp to London To do this say by the Rule of Three If 56 pence sterling give gros 90⅓ seeing that the one and the other is the value of a Ducat of Venice what will 240 pence sterling give being the price of the pound sterling of London It will be gros 387 which reducing to shillings in taking the 1 12 and it will be 32¼ shillings and so many shillings Flemish and ⅖ more per cent for the provision payable in Venice comes to be disbursed in Antwerp for one pound sterling money Credit in London 2 Example Again a Merchant of London is Creditor in Antwerp 2000 l. Flemish who inordereth that it be remitted him at Shillings 33¼ or to Placentia at 121 gro where the most profit shall be found that is to that place which shall be most beneficial or to least loss of the prices limited Now there are found Bills for London at Shillings 33½ and for Placentia at gro 121¼ I demand to which of the said places should the Remittance be made seeing that by both there is found Remittance to loss And to know where is the least say by the Rule of Three If shil 33¼ give gros 121 the price inordered what will shil 33½ give being the price found for London It will come to gros 121 9 10 so that the Remittance should be made to Placentia because that remitting to London at shil 33½ to go to the Par should be delivered for Placentia at gro 121 9 10 and there is found Bills for loss that is at 121¼ gross And thus much for the Exchanges practised in Antwerp CHAP. CCCCXLIII Of the Exchanges practisd in London and how the same are to be calculated Exchanges practised in London I Have shewed in the general Exchanges of London with how many other places this City is found to Exchange and there also set down the common current prices and rates thereof which every day is found to be so subject to alteration that no positive rule can be observed rightly to set down the same yet it is in it self so beneficial that thereby the unexperienced may know how to make his calculation thereof and that as well in his Draughts as in his Remittances Now only there resteth to conclude this Tract of Exchanges and this Map of Commerce to handle the way how the same is cast up and how by Arithmetick it is performed which I will observe here with some other principal places which may serve for a sufficient ground and instruction to those here omitted Accounts kept in London It is here to be noted for the better understanding of what ensueth That all Bankers or Exchangers do keep their Accounts in London in pounds shillings and pence commonly called sterling and cast up by 20 and by 12 for 20 Shillings make a pound and 12 pence make a shilling And morcover that London exchangeth in the Denominator of pence sterling with all other Countreys Antwerp and those Countrys neighbouring of Flanders and Holland excepted with which it exchangeth by the entire pound of 20 shillings sterling CHAP. CCCCXLIV Of the Exchanges of London with Lions Exchanges of London with Lions LOndon exchangeth with Lions and giveth posito 61 pence more or less to have in Lions a Crown of Gold of the Sun of 3 l. piece I demand then for 348 l. 15 shillings sterling how many Crowns of the Sun shall I have Credit for in Lions First reduce the said sum of pounds sterling into shillings multiplying the same by 20 and adding thereto 15 shillings and then by 12 pence adding thereto the pence if any were and then divide the same by 61 pence and the Divident will make Crowns multiplying the remainder of the Division by 20 to make them Sols and by 12 to make them Den. of Gold and then they make in all Crow 1372008 Pence of the Sun of Gold that I shall have in Credit at Lions for the said sum of 348 l. 15 sterling delivered in London Proof The proof of this rule is manifested when that Lions shall exchange the said sum of 1372⅛ Crowns for London Exchanges of London with Paris Rouen c in France And here also it is to be noted that the rule is the same when London shall exchange with either Paris or Rouen or any other City of the Kingdom of France CHAP. CCCCXLV Of the Exchanges of London with Florence Exchanges of London with Florence LOndon doth exchange with Florence and giveth posito 70 pence ster more or less to have in Florence a Crow of Gold I demand then for pounds 656 10 6 d. ster how many Crowns shall I have Credit in Florence This is to be cast up as in the precedent rule of London with Lions and it will appear That for the said 656 10 6 sterling I am to have Credit in Florence the sum of Crow 2250⅛ as per Example Proof Note That this Exchange is seldom practised from London and therefore not in use in these days but when many Florentine Merchants resided in London it was much in use yet the Rule is right and the proof thereof is evident when Florence rechangeth again for London CHAP. CCCCXLVI Of the Exchanges of London with Venice Exchanges of London with Venice LOndon is found to Exchange for great Sums with Venice and giveth posito 50 d. sterling to have in the said place one Ducat in Banco of l. 6⅕ money of Venice I demand then for 555 l. 17 6 d. sterling how many Ducats shall I have Credit for in Venice This is done as in the precedent rule reducing the pounds sterling into shillings by the multiplication of 20 and adding 17 and then multiplying that again by 12 to bring it into pence and adding thereto 6 d. and it will make Duc. 2668⅕ which should be rendred in Venice for 555 l. 17 6 d. sterling in London as per Example Proof Difference between money in Banco and current money in Venice Note that for distinction of the current money in Venice which is 21 per cent at present worse than the money payable by Exchange it is termed in Banco in which all Bills of Exchange are payable and the proof of this rule is apparent when that the said sum of 2668⅕ Ducats is rechanged for London CHAP. CCCCXLVII Of the Exchanges of
these Examples But I have wandered too far and proceeded farther in this subject than I intended therefore here will conclude both the calcuations of Exchanges and these methods of abreviating the rules of Division and Multiplication referring what is here by me omitted in both the said subjects to the ingenious hand and head of the mysterious Exchanger FINIS An Alphabetical Table comprehending the most Notable Things contained in this Merchants Map of Commerce A. AFRICA bounded with longitude and latitude 1 Asia bounded with its longitude and latitude ibid. America bounded its longitude and latitude ibid. Art of Merchandizing and the general parts thereof 2 A Merchant should know the form of Acquittances Letters of Atturny of Account-keeping and Arithmetick ibid. To Abbreviate the labour of Weighing 6 How to Accord the weights of any two places ibid. Of Accounts and Account-keepings 7 Accounts kept diversly in divers Cities and Countreys ibid. The method used in Accounts is divers ibid. Four rules required in an Account ibid. Artificial commodities what 9 America and the Provinces thereof 11 Andalusia nova 13 Africa and the Provinces 14 Argier and the Trade thereof comaining the Commodities coins weights measures accounts and customs thereof 10 Aian and the Commodities thereof 27 Alexandria 28 and the Trade of the commodities weights measures 30 Asia and the Provinces thereof 40 Anatolia or Natolia 41 Alexandretta Scanderone 42 Angora with weights and measures 50 Amasia 51 Armenia and the Cities Chap. 67 52. Mount Ararat ibid. Acria and the Trade thereof 56 Containing weights measures and Coins ibid. Amano and the Trade thereof 58 Aleppo and the Trade thereof cont aining commodities weights coins measures accounts customs thereof c. 63 Arabia and the Provinces thereof 68 Assyria and the Cities thereof 69 Aden and the Trade thereof 71 Astracan and the Trade thereof containing the weights measures thereof c. 85 Aracan and Ava 88 95 Agria 90 Amadavar ibid. Adam's hills the Paradise of Siloners 102 Amboina Islands 103 Achin and the Trade thereof 105 Andalusia 112 Alicant and the Trade thereof containing coins accounts weights measures c. 115 Alcala ibid. Aragon 119 Aquitania 122 Anjou 125 Avergno 127 Avignon 131 Abruzzo 139 Apulia and the Trade thereof 141 Anco and the Trade thereof 149 Aste a great Mart 168 Antwerp and the Trade thereof 179 Artois ibid. Arras ibid. Amsterdam and the Trade thereof 180 Albis River in Germany 182 Alsatia 185 Anspache 186 Ausburge and the Trade thereof 194 Austria ibid. Amber 209 Archangel in Moscovia 220 Avalona or Valona and the Trade thereof 243 Argos in Morea 245 Arcadian Plains ibid. Achaia 246 Athens ibid. Albania and the Cities thereof 246 Mount Athos the holy Mountain ibid. Adrianopolis ibid. Adriatick Islands 254 Anglesey Island 269 262 Merchant Adventures their original and places of residency in London 267 Antwerp Exchanges 289 Alcala Exchanges 294 Augusta Exchanges 298 Custom of Acceptations of Bills of Exchanges in Lions 302 Account of Discounts and the manner thereof used as well in Lions as in many other places of Trade 305 Account-keeping in Lions how 307 Aggio of moneys practised in the payment of Bills of Exchanges in Rome 340 Examples of Exchanges practised in Antwerp and how calculated 435 Exchanges of Antwerp with Lions 436 Of Antwerp with Placentia 437 Of Antwerp with Florence 438 Of Antwerp with Venice 439 Of Antwerp with London 440 Of Terms of Payment of Bills of Exchanges in Antwerp 441 Orders and Commissions given and received in Exchanges at Antwerp 442 B. BArtering in use of old 2 Bargaining ibid. Things considerable in Bartering ibid. Things considerable in Bargaining ibid. A Merchant ought to know the form of a Bill of Exchange ibid. Of Bills of lading ibid. Of Bills of debt ibid. The Burse or Exchange 3 The Book of Rates of Customs 4 Bartering and Exchanging before the use of Gold and Silver 5 Brasilia 13 Barbada Island ibid. Barmuda or Summer Islands ibid. Barbary 14 Barbary Merchants 23 Borneo 25 Boro 27 Bithinia and the Cities thereof 47 Brusia in Bithinia the Trade commodities coins weights measures and customs thereof 48 Baruti with the Trade of the coins measures weights thereof 59 Babylon and the Trade containing the weights and measures c. thereof 72 Balsara and the Trade thereof containing the customs commodities weights and measures 77 Bindamir 79 Balasia 88 Bengala ibid. Barma ibid. Boroche and the Trade thereof 90 Bassain 92 Bengala and the Trade of that coast 94 Banda and Islands of Moluccos 103 Batavia olim Jacetra 104 Bantam and the Trade thereof ibid. Borneo Island and the Trade thereof 106 Beniermasa an English Factory ibid. Baiona and Biscay 114 Barselona and the Trade thereof 119 Burdeaux and the Trade thereof 124 Brittany 125 Burbon 127 Berry and la Beuse ibid. Burges and Beauvois ibid. Beaucarre 129 Burgundy 132 Bresse ibid. Bisanson ibid. Bolonia and the Trade thereof 143 Bressia and the Trade thereof 155 Brussels 178 Breda ibid. Bruges 179 Breme the Trade thereof 184 Baccrai 186 Baden ibid. Bainsberge ibid. Basil and the Trade thereof 193 Bavaria 194 Bohemia 195 Brandenburge 196 Brunswick and the Trade thereof 200 Beer of Lubeck famous 205 Baltick Islands 210 Bornholm ibid. Blesida ibid. Bergen one of the 4 ancient Mart Towns of Europe 216 Bodia in Sweden 217 Buda in Hungary 234 Bulgaria 235 Bosna ibid. Beaumares in Anglesey 262 Britain and the Provinces 268 Barkshire 269 Buckinghamshire ibid. Bedfordshire ibid. Barwick ibid. Brecknockshire ibid. Beauty of England ibid. Barbary Merchants of London their original and decay 270 Barry Exchanges 286 Barselona Exchanges 293 Bolonia Exchanges 296 Bergamo Exchanges 297 Bilan what 302 Examples upon Exchanges practised in Barselona and how calculated 426 Exchanges of Barselona with Lions 427 Exchanges of Barselona with Placentia 428 Exchanges of Barselona with Saragosa 429 Of Barselona with Valentia 430 Of Barselona with Sevil 431 Of Barselona with Lisbon 432 Of Orders and Commissions given and received in draughts and remittances in Exchanges made in Barselona 433 Terms of Payment of Bills of Exchanges in Barselona 434 C. The Commodity of the knowledge of Geography to Merchants 1 Cancer and Capricorn Tropicks ibid. Commutations distinguish'd into three manners 2 A Merchant should know the form of all Charter-parties ibid. Cities and Towns eminent in Trade only mentioned in this Map 3 Six parts required in a compleat City and Town ibid. What Cities are found sit for Traffick and Commerce ibid. Two sorts of Cities of Traffick ibid. Sea Cities of Trade what ibid. Land Cities of Trade what ibid. Cities of Trade in manual Arts ibid. The Cities of Trade mentioned in this Map of Commerce ibid. Five places in a City depending upon Trade ibid. The Custom-house ibid. The Customs Impositions and other duties paid by Merchants upon Goods 4 Customs not always alike in all places ibid. Customs due upon all commodities ibid. Customs differing in regard of times of places of Cities
of Commodities and of weight ibid. Coins of sundry Countries used in Traffick of Merchandizing 5 Coins made of Silver and Gold ibid. A Capital crime to debase or alter any Princes Coin ibid. Cargos in weight what 6 Cain the Inventer of Weights and Measures 8 All Cities of Trade have sworn and publick measures ibid. Of Commodities used in Merchandizing and the knowledge thereof 9 All Commodities are either natural or artificial ibid. All Commodities known by the Sensce ibid. All Coins brought into one by exchanging 10 Castella aurea 13 Chilo ibid. Cuba ibid. Caffaria 27 Cape bona speransa ibid. Carro 29. and the Trade thereof 31 Casir in the red Sea 29 Captus ibid. Caffa in the Euxine Sea ibid. Cilicia and the Cities thereof 42 Colloso 46 Cappadocia and the Cities thereof 51 Celosyria and the Cities thereof 61 Colcos 67 Caldea and the Cities thereof 69 Cabin and the Trade thereof 76 Cusestam 77 Cusan and the Trade thereof 78 Caramania ibid. Carriage of Commodities by Caravans 81 Capha and the Trade thereof containing the Coins Weights Measures and Accounts thereof 85 Cathay and the Provinces 86 Cambalu and the Trade thereof 87 Cannor 88. and the Trade 92 Cambaia 88 Canora ibid. Camboia ibid. Cauchinchina ibid. Cambaia and the Trade thereof 90 Chaul and the Trade thereof 92 Cochin and the Trade thereof ibid. Calicut and the Trade thereof ibid. Coast of Cormandle and the Trade thereof 93 Custom in India for debtors 94 China and the Provinces thereof 98 Commodities of China ibid. Cloves in abundance in Molluccos 103 Celebs Island and the Trade thereof containing Coins Weights c. thereof 107 Cyprus and the Trade thereof containing Commodities Coins Weights Measures 108 Cartagena 114 Castilia and the Trade thereof containing Exchanges Coins Weights Measures 116 Catalonia 118 Callais and the Trade thereof 132 Champaign ibid. Callabria and the Trade thereof 140 Crema and the Trade thereof 157 Cremona and the Trade thereof 166 Como and the Trade thereof 167 Cambray 179 Charlemont ibid Collen and the rade thereof 185 Cleveland ibid. Coins in general of Germany 206 Coins of Stoad Hamburg and Lubeck ibid. Coins of Embden Breme Edenburg Brunswick Mainburg Lipsick Vpper Germany Bohemia Switzerland ibid. Copenhagen 210. and the Trade thereof 211 Candroa in Moscovia 219 Cracovia and the Trade thereof 223 Coninburg and the Trade thereof 226 Corn-measures of Eastland reduced to that of sundry other Countreys 231 Croatia 236 Corono and the Trade thereof 239 Catarro and the Trade thereof 240 Caranto anciently Corinth a samous Mart in Morea 245 Constantinople and the Trade thereof 247 Coos Island 249 C 〈◊〉 ia Island and the Trade thereof 251 Cerigo Island ibid. Cursolari Islands ibid. Corfu Island and the Trade thereof 235 Corsica Island 258 Callary and the Trade thereof 259 Capre Island 261 Cadis or Gades ibid. Conaught in Ireland 263 Four Circuits in Wales 268 Cornwal 269 Cambridgshire ibid. Cheshire ibid. Cumberland ibid. Canarvanshire ibid. Cardiganshire ibid. Caermarthenshire ibid. Six Circuits in England ibid. Cities of Exchanges in Europe 273 Collen Exchanges 290 The Captain of Mosambick the greatest Merchant of that Coast. 28 D. DEscription of Countries conduceth to the description of Cities 1 Division of the World into four parts ibid. Distance of places how found out ibid. Duty of building a Ship belonging to the Shipwright 2 Duty of Ships provision belonging to Owners and Out-readers ibid. Duty of sailing a Ship belonging to Navigators ibid. Duty of Imploying of Ships belonging to Merchants ibid. Denarius how called 5 The best way of Accounts is by Debtor and Creditor 7 Divers Countreys have a diversity in their measures 8 Decaying Commodities what 9 Damietta 29 Damascus and the Trade containing the Coins Weights Measures Commodities thereof c. 62 Derbent 73 Dellia 88 Dieu and the Trade thereof and of that Coast and the Commodities 89 Damain in India 92 Customs in India for Debtors 94 The Dutch Forts and Trade in Amboina Islands 103 Denia and the Trade thereof 118 Dolphine 127 Duke of Florence a great Merchant 159 Dry measures of several Cities in the Levant Seas compared 161 Dukedom of Millan 164 Dunkirk 179 Doway ibid. Delph ibid. Dort ibid. Danubius River 182 Dresden and the trade thereof 199 Denmark and the Provinces 210 Dithmar in Denmark ibid. Dantsick and the trade thereof 224 Dacia and the Cities thereof 235 Dalmatia 236 Delos or Delphos 249 Dublin the Metropolis of Ireland and the Trade thereof 264 Four Dioceses in Wales 268 Devonshire 269 Dorsetshire ibid. Darby-shire ibid. Durham ibid. Denbighshire ibid. Declaration of The Table of Exchanges 274 DoubleVsance what 299 Account of Discounts used in Lions and elsewhere 305 Days and Nights differ according to the Latitude 1 E. Aequinoctial what 1 Europe and its bounds Latitude and Longitude ibid. Eclipse of the Sun and Moon when seen ibid. Exchanging the third manner of Commutation 2 Exchanging drawn into a profitable Art and the reasons thereof ibid. Things considerable in Exchanging ibid. Esterlin moneys in England 5 Of Exchanges in general used by Merchants 10 The Excellency of a Bill of Exchange ibid. The Exchanger rectifieth the disorders of Mints and the necessity of Prices ibid. Estotiland 12 Aethiopia and the Provinces 26 Elephants Teeth 27 Aegypt and the Provinces 29 The Trade of Aegypt in times past ibid. Aegypt weights compared with others 34 Euphesus 44 Eolis the first Merchants 46 Ephrates 54 Three Excellencies in Casbin 76 Exendu and the largeness thereof 87 The English the last Traders into India 107 English Consul at Cyprus 108 Europe and the Kingdoms thereof 110 Escurial 115 English subjection at Blois upon the River of Gerond 124 English Hall in Rouen for Wool 126 East-Frisland 182 Embden and the trade thereof 183 Elsmore and the Trade thereof 212 Elbin and the Trade thereof 225 Epidaurus 245 Epirus 246 The English the greatest Traders of any Christians into Constantinople 247 Mount Aetna in Sicilia 256 Elba Island 261 Edenburgh and the Trade thereof 266 Essex 269 East-India Merchants of London their original 270 Eastland Merchants their original ibid. Of Exchanges in general with the method and manner thereof as practised in Christendom 273 Exchanging places ibid. What Exchanges are c. ibid. Declaration of the Table of Exchanges 274 Of the Exchanges of Placentia 276 The Exchanges of Lions Paris 277 The Exchanges of Rome 278 The Exchanges of Genoa 279 Exchanges of Millan 280 Exchanges of Venice 281 Exchanges of Florence 282 Exchanges of Lucca 283 Exchanges of Naples 284 Exchanges of Leccy 285 Exchanges of Barry 286 Exchanges of Palermo 287 Exchanges of Mesina 288 Exchanges of Antwerp and Collen 289 Exchanges of London 290 Exchanges of Valentia 291 Exchanges of Saragosa 292 Exchanges of Barselona 293 Exchanges of Sevil Alcala Medina del campo in Castilia 294 Exchanges of Lisbon 295 Exchanges of Bolonia 296 Exchanges of Bergamo 297 Exchanges of Frankfort Norimberg Augusta Vienna 298 How the Rates and
Prices in Exchanges are setled amongst Merchants 300 Of Examples upon Exchanges practised at Lions and how the same are calculated 302 Examples of the Exchanges of Lions with the profit of the presits thereof as interest upon interest 304 Certain and incertain prices in Exchanges what 323 Examples of Exchanges in Rome and how the same are calculated 325 Examples of Exchanges in Naples and how the same are calculated 342 Examples of Exchanges in Genoa and how the same are calculated 360 Examples of Exchanges practised in Venice and how to be calculated 368 Examples of Exchanges practised in Placentia and how calculated 382 Questions of Exchanges in Placentia 399 Examples of Exchanges practised in Florence and how calculated 400 Exchanges practised at Millan and how the same are to be calculated 410 Exchanges practised at Palermo and Mesina and how to be calculated 419 Exchanges of Barselona Sevil Lisbon Valentia and Saragosa and how the same is calculated 426 Examples of Exchanges practised in Antwerp and how calculated 435 Examples of Exchanges practised in London and how calculated 443 The Excellency of the Palm Tree 30 F. FLorida 12 Fishing in New-found-land ibid. Fess and the Provinces thereof 20 The City of Fess with the commodities moneys weights measures and customs thereof 21 The manner of farming the Pepper in India by the Portuguese 92 The Fortune of Siam and Pegu 96 Firando and the Trade thereof 101 France and the Provinces thereof 122 French not addicted to Trade 127 Foreign Weights compared with the Weights of Lions 129 Farara and the Trade thereof 144 Florence and the Cities of that Dukedom 159 Florence and the Trade of that City 160 Flushing 180 Franconia 186 Francfort and the Trade thereof 191 Fountain of Salt in Limburg 201 Friburg and the Trade thereof 202 Fionia 210 Fincria ibid. Finmark 216 Finland in Siden 217 The French Nation the Third eminent Traders into Turky 247 Fromentary 261 Frisland 262 Flint 269 French Merchants of London their original 270 Florence Exchanges 282 Francford Exchanges 298 Fairs and Marts what 299 Fairs in Lions when 324 Examples of Exchanges used in Florence and how calculated 400 Exchanges of Florence with Lions 401 Of Florence with Placentia 402 Of Florence with Venice 403 Of Florence with Rome 404 Of Florence with Naples 405 Of Florence with Antwerp 406 To reduce Crown of 7 Livers in Florence to Crown of Gold of 7½ l. 407 Terms of payment of Bills of Exchange in Florence 408 Orders and Commissions in Exchanges practised in Florence 409 G. GEography dilightful profitable and necessary to Merchants 1 Geography demonstrated in Maps and Sea-cards ibid. Gold and Silver the most excellent of Metals 5 Nova Granada 13 Guiana ibid. Goaga 25 Genin and Benin and their Trade with their customs coins weights measures and manner of accounting ibid. Gordion 46 Gallacia and the Cities thereof 50 Grogram Trade ibid. Galelia 66 Gasa and the Trade thereof 66 Georgia 67 Gedrosia 78 Gombrone and the Trade thereof 80 Ganges the famous River 88 Goa and the Trade thereof containing the commodities coins weights and measures 91 The greatness of China 98 Granado and the Trade thereof 113 Geneva and the Trade thereof 136 Genoa and the Trade thereof 174 Guelderland 178 Gante 179 Graveling ibid. Groining 180 Germany and the Provinces thereof 182 Grats 194 Gorlits 195 Germany accounts and coyns 206 Gothland in Sweden 217 Grecia and the Provinces thereof 238 Galipolis or Calipolis 246 Gallata 247 The Government of the Trade of the English into Constantinople ibid. Groanland 262 Garnsey Island ibid. Glocestershire 269 Glamorganshire ibid. Greenland Merchants of London their original 270 Genoa Exchanges 279 Genoa Exchanges and how calculated 360 Exchanges of Genoa with Placentia 361 To reduce Livers of current money into Livers of Gold in Genoa ibid. Exchanges of Genoa with Lions 362 Of Genoa with Millan 363 Of Genoa with Venice 364 Of Genoa with Naples 365 Orders and Commissions in Genoa 366 Terms of payment of Bills of Exchange in Genoa 367 Galetta in Tunes 15 Granatins or Moro francos ibid. H. HUndred weights what 6 Hispaniola 13 Hispahan and the Trade thereof containing the commodities coins accounts weights measures thereof and Persia 81 The Hollanders the second Traders into India 107 Holland 179 Henalt ibid. Harlem ibid. Hans-Towns in Germany 182 Hidleberg and the Trade thereof 189 Helvetia 191 Hasia 201 Hamburg and the Trade thereof 204 Holfatia 210 Hungaria and the Cities thereof 234 The Hollanders the least Traders into Turkey of the Western Christians 246 Mount Hibla in Sicilia 256 Hebrides Isles 262 Hampshire 269 Hartfordshire ibid. Huntingtonshire ibid. Herefordshire ibid. HalfVsance what ibid. I. A Merchant should know the form of Intimations and Protests 2 Impositions upon Goods 4 An Instrument to find out the argreement of measures in any two Cities or Places 8 Jucatan 12 Isles of Salomon 13 Isles of Baccalos ibid. Island of Beriquen ibid. Jamaica ibid. Island St. Thomas 37 Islands Canaries and the Trade thereof 38 Island Tarceras or Asores 39 Ionia and the Cities thereof 44 Jordan the River 65 Idumea ibid. Judea ibid. Jerico 66 Jerusalem ibid. Jasques in Persia 80 India and the Provinces thereof 88 Islands of Asia and their Trade 100 Islands of Japan and their Trade containing their coyns weights measures c. 101 Island of Silon and the Trade 102 Inhabitants of Silon excellent and rare Tumblers and Moris-dancers ibid. Islands of Moluccos and the Trade 103 Islands of Java and the Trade 104 Jacetra baptized Batavia ibid. Japarra and the Trade thereof ibid. Jambe and the Trade thereof 105 Isle of France 126 Italy and the Provinces thereof 137 Imperial Towns in Germany 202 Juitland in Denmark 210 Julin an ancient Mart 229 Illyria 236 The Trade of the Islands seated in the Ionian Egron Mediterranean and Adriatick Sea 248 Ithecca and the Trade thereof 252 Ivisa Island and the Trade thereof 261 Iscia Islands ibid. Island 262 Jarsey Island ibid. Ireland and the Trade thereof 269 Ingland and the Cities thereof 269 Levant Merchants of London their original and splendour 270 Ignorant Exchangers censure the judicious if varying from the custom of Exchanging 273 Dates of Exchanges in Lions which may serve for the rate of Interest in any other place 303 Interest paid upon Rebate 304 K. The King's Beam or Weigh-house 3 How a Merchant may have a knowledge in all Commodities 9 The Kingdoms now in subjection to the Grand Seignior 67 Kent 26 Kings of Portugal great Merchants into India 28 L. Latitude how accounted 1 The Longitude of a place how to be found out ibid. The Latitude of a place how to be found ibid. Latitude and Longitude found out by the Meridians ibid. Lucay Islands 13 Lybia and the Provinces 24 Lydia 46 Liconia and the Cities 52 Lahoare 90 Lawibander ibid. Lisbon and the Trade thereof containing coyns weights measures and customs of Portugal 117 Locrams 125 Limosin 127 Lions and the Trade thereof 128
Languedoc 129 Lorrain 132 Loretta 147 Leghorn and the Trade thereof 173 Lucca and the Trade thereof 175 Limburge 178 Liege ibid. Luxenburg ibid. Lovain ibid. Lisle 179 Leiden ibid. Lipsick and the Trade thereof 197 Luneburg and the Trade thereof 201 Lubeck and the Trade thereof 205 Lappia in Swethland 218 Livonia 222 Lituania ibid. Larta and the Trade thereof 244 Lepanto and the Trade thereof 245 Lemnos 248 Lesbos 249 Lipar Island 261 Lemster in Ireland 263 Liecestershire ibid. Lincolnshire ibid. Lancashire ibid. London and the Trade thereof 270 Liberty of Exchanging 273 The Exchanges of Lions 277 Lucca Exchanges 283 Leccy Exchanges 285 London Exchanges 290 Lisbon Exchanges 295 Examples upon Exchanges in Lions and how calculated 302 Customs of acceptions of Bills of Exchanges in Lions ibid. The price of Exchanges settled in Lions for succeeding Fairs ib. Recounters in Lions what ibid. Rules of casting up the Exchanges made in Lions ibid. Rates of Exchanges in Lions which may serve for the rates of interest in many other places 303 The reason and benefit of the Rules of Exchanges in Lions ibid. Examples of the Exchanges of Lions with the profit of the profits thereof 304 Accounts of disaccounts in Lions in many other places 305 Exchanges of Lions with Rome 307 Exchanges of Lions with Florence 308 Exchanges of Lions with Lucca 309 Exchanges of Lions with Naples 310 Exchanges of Lions with Palermo 311 Exchanges of Lions with Genoa 312 Exchanges of Lions with Millan 313 Exchanges of Lions with Venice 314 Exchanges of Lions with Bolonia 315 Exchanges of Lions with Placentia 316 Exchanges of Lions with Antwerp 317 Exchanges of Lions with London 318 Exchanges of Lions with Francfort 319 Exchanges of Lions with Sevil 320 Exchanges of Lions with Lisbon 321 Exchanges of Lions with Barselona 322 Orders and Commissions for Exchange in Lions 323 The Fairs of Lions 324 Exchanges of Lisbon 426 Examples of Exchanges practised in London and how calculated 443 Exchanges of London with Lions 444 Exchanges of London with Florence 445 Exchanges of London with Venice 446 Of London with Antwerp 447 Orders and Commissions in draughts and remittances in Exchanges in London 448 Terms of payments of Bills of Exchanges in London 449 M. MErchandising the first School of the present government of many Countreys 1 The use of Maps and Sea-Cards in general ibid. Meridian what ibid. Meridians and their use ibid. Merchandising accounted an Art 2 The materials of Merchandising are Commodities and Moneys ibid. The duty of Merchants ibid. A Merchant ought to know 1. the Form of a Bill of Exchange 2. of all Intimations and Protests 3. of Charter-parties 4. Bills of lading 5. Policies of Assurance 6. of Bills of Debt 7. of a Release 8. of Letters of Atturney 9 of Account-keeping and 10. Arithmetick ibid. The Merchant's purse and person supplies many defects in a City 3 Magazines for commodities ibid Met-house ibid. Merchants must learn what customs are and duly pay them 4 Moneys of Leather in Saint Dominico 5 Moneys of Shells in Tombuto ibid. Moneys of Iron in Massa ibid. Moneys of Lumaches in Congo ibid. Moneys of Glass in Melinda ibid. Moneys of Salt and Paper in Cathay ibid. Moneys of Gansa in Pegu ibid. Moneys of Almonds in Bengala ibid. Moneys of dead mens Sculls in Sumatra ibid. Moneys of Pepper and Cocos in India ibid. Moneys called by three several names ibid. Moneta what and how called ibid. The Merchant must be versed in all weights 6 Of Measures in general 8 False Measures are punishable by the Magistrate ibid. Measures of solid Bodies of dry and liquid Commodities ibid. All Measures to the Merchant must be as one measure ibid. A Merchant must be seen in all Commodities and in all Trades 9 A Merchant must know the value of all Commodities ibid. A Merchant must reduce the knowledge of commodities to a profitable end ibid. Merchants should know how to preserve all commodities ibid. Merchants should know how to better their commodities ibid. The Mystery of Exchange reduced to profitable principles 10 Mexicana and the Provinces 12 Mexico and the commodities ibid. Manoa the Golden City 13 Margarita ibid. Kingdom of Morocco 22 City of Morocco with the Trade containing the commodities coins weights measures and customs thereof 23 Mosambique and the Trade thereof containing coins weights measures and commodities thereof 28 Monomotapa 27 Manica ibid Manicongo ibid. Merchants of six sorts in Cairo 31 Madagascar otherwise Saint Laurence 35 Midium 46 Medina Talnabni and Mecha 68 Mesopotamia and the Cities 69 Mocha and the Trade containing the coins weights measures thereof 70 Media and the Cities thereof ibid. Mallavar Chap 88. and the Trade of that Coast 92 Mandoa ibid. Macin ibid. The Merchants that in general are found to traffick in India ibid. Musulapatam and the Trade of the coast of Cormandil with the coins weights measures of that place and coast 93 Maccau in China 95 Mallaca and the Trade thereof as the weights measures coins c. thereof 97 Moonsons at Mallaca ibid. Maccau and the Trade thereof containing the commodities coins weights c. thereof 99 Macasser and the Trade thereof containing weights measures coins c. 107 Malaga and the Trade thereof containing coins customs weights measures 114 Murcia ibid. Madrid 115 Measures of Spain reduced to the English Yard of London 120 Main 125 St. Mallos and Morlais in Britanny ibid. Moneys lately inhansed in France 127 Molins ibid. Mart of Lions formerly in Geneva 128 Marselia and the Trade thereof 131 Modena and the Trade thereof 145 Millan and the Trade thereof 165 Mantona and the Trade thereof 168 Mirandola and the Trade thereof 172 Mastricht 178 Marquisate ibid. Middleburge 180 Maclin ibid. Measures of the Netherlands reduced to the measures of London ibid. Mentz 186 Meclinburge 196 Measures of Germany reduced to London 208 Measures of Denmark to London 214 Moscovia and the Provinces 219 Mosco and the Trade thereof 220 Massovia 222 Moldavia 235 Modona and the Trade thereof 239 Morea and the Trade thereof ibid. Misene in Morea 245 Marathron 256 Megara ibid. Macedonia ibid. Migdonia ibid. Mastique 248 Mesina and the Trade thereof 257 Malta Island ibid. Majorque and Minorque and the Trade thereof 260 Man Island 262 Munster in Ireland 263 Meth in Ireland ibid. Middlesex 269 Mcrionethshire ibid. Mountgomeryshire ibid. Monmouthshire ibid. Merchants Adventurers of London their Original and places of residence 270 Moscovia Merchants of London their Original ibid. Measures used in England 272 Manner of Exchanging 273 Millan Exchanges 280 Mesina Exchanges 288 Medina del Campo Exchanges 294 Exchanges practised at Millan and how the same are calculated 410 Exchanges of Millan with Lions 411 Of Millan with Placentia 412 Of Millan with Venice 413 Of Millan with Rome 414 Of Millan with Naples 415 Of Millan with Genoa 416 Terms of Payments of Bills of Exchanges in Millan 417 Orders and Commissions given and received in Exchanges in Millan 418 Exchanges of
Mesina and Palermo 419 N. THe duty of Navigators 2 Nummos what 5 Natural commodities what 9 The Necessity and commodiousness of Exchanges 10 Nicaragua 12 Norumbega ibid. Nova Francia ibid. Nombre de dios 13 Numidia and the Provinces 24 Negrita and the Trade thereof 25 Navigation to India 21 Nilus River 29 Narsinga 88 Nanquin 98 Normandy 125 Nevers 127 Naples and the Cities therein 138 Naples and the Trade thereof 139 Nemingen 178 Newport 179 Namurce ibid. Normbierg 186 And the Trade thereof 190 Northgoia 195 Norway and the Provinces 216 Nodrosia in Norway ibid. Novegrade in Moscovia 219 St. Nicholas in Moscovia 220 Negroponte 249 Northern Islands 262 Norfolk ibid. Northamptonshire ibid. Nottinghamshire ibid. Northumberland ibid. Naples Exchanges 298 Norimberg Exchanges 298 Exchanges of Naples how calculated 342 Exchanges of Naples with Lions 343 Exchanges of Naples with Placentia 344 Exchanges of Naples with Rome 345 Exchanges of Naples with Florence 346 Exchanges of Naples with Venice 347 Exchanges of Naples with Millan 348 Exchanges of Naples with Leccy and Barry 349 Exchanges of Naples with Mesina 350 Exchanges of Naples with Palermo 351 Exchanges of Naples with Genoa 352 Exchanges of Naples with Antwerp 353 Exchanges of Naples with London 354 Exchanges of Naples with Venice 355 Exchanges of Naples with Sevil 356 Exchanges of Naples with Lisbon 457 Terms of Payment of Bills of Exchanges in Naples 358 Orders and Commissions in Naples 359 O. THe duty of Owners of Ships 2 The Original of Customs 4 Officers Fees of Custom-houses to be known and discharged ib. Merchants should write down their Observations upon Commodities 9 Ocknam's brave Attempt 13 Oran with the coins weights and measures thereof 17 Original of the company of Merchants of Turkey and East-India 23 Ormus and the Trade thereof 80 Restored to the Persian Scepter by the valour of the English ibid. Orders of Caravans from Syria to Balsara ibid. Orleans 127 Oyls of Provence how bought 130 Oyls how measured in Thollon ibid. Orange 131 Ottranto 139 Oversels 180 Ordera River 182 Ossenbregs 184 Olmuts 195 Olympian Games 245 Ocean Islands 262 Orcades ibid. Oxford-shire 269 Orders and Commissions given and received for draughts and remittances of Exchanges in Lions 323 Orders and Commissions given and received for draughts and remittances of Exchanges in Rome 341 Orders and Commissions given and received for draughts and remittances of Exchanges in Naples 359 Orders and Commissions for draughts and remittances in Genoa 366 Orders and Commissions for draughts and remittances in Venice 380 Orders and Commissions for draughts and remittances in Placentia 398 Orders and Commissions for draughts and remittances in Florence 409 Orders and Commissions for draughts and remittances in Millan 418 Orders and Commissions for draughts and remittances in Palermo and Mesina 425 Orders and Commissions for draughts and remittances in Barselona 434 Orders and Commissions for draughts and remittances in Antwerp 442 Orders and Commissions for draughts and remittances in London 448 Original of Burses or places for meeting of Merchants 181 P. PArallels what 1 Poles artick and antartick ibid. A Merchant should know the form of Policies of Assurance 2 Pecunia what and how called 5 A Principal part of Merchandising consists in the knowledge of Commodities 9 How to find out the Par of Exchanges 10 The Price of the Exchanges at the disposal of the Exchanger ibid. The Particulars observed in the Map of Commerce ibid. Peruana and the Provinces 13 Panama ibid. Peru ibid. Pamphilia 43 Phrigia 46 Pontus and the Cities thereof 49 Pompey's Pillar ibid. Paphlagonia and the Cities 50 Pisidia and the Cities 52 Phoenicia and the Cities 55 Palestine and the Cities 65 Place of Paradice 71 Pidgeons Letter-carriers 72 Persia and the Provinces thereof 75 Persis ibid. Policies of Casan 78 Parthia 10 Pegu 88 The manner of framing the Pepper in India by the Portuguese 92 Pegu and the Trade of that coast 95 Pottana and the Trade thereof 96 Priaman and the Trade thereof 105 Philippine Islands 107 The Portuguese the first Masters of the Trade of India 107 Portugal 116 Poitou 125 Paris and the Trade thereof 127 Perigort ibid. Provence 129 Picardy 131 Popacie and the Cities thereof 142 Padua and the Trade thereof 153 Pisa and the Trade thereof 162 Parma and the Trade thereof 170 Placentia and the Trade thereof 171 Principalities in Germany 182 Preslave 195 Prague and the Trade thereof 196 Pomerania 197 Plescovia 212 Permia ibid. Petrosa ibid. Polonia and the Provinces thereof 222 Podolia ibid. Podlasia ibid. Prussia ibid. The Trade in general of Poland and East-land 233 Presburg 234 Pretras and the Trade thereof 239 Parnassus Mount 246 Pera ibid. Pathmos Island 249 Palermo and the Trade thereof 257 Panteleria Island 261 Progita ibid. Pomonia Isles 262 Pembroke-shire 269 The Exchanges of Placentia 277 The Exchanges of Paris 277 Palermo Exchanges 288 The Par in Exchanges what 301 Princes Par in Exchanges 301 Merchants Par in Exchanges ibid. Examples of Exchanges practised in Placentia and how calculated 388 Exchanges of Placentia with Lions 382 Of Placentia with Genoa 384 Of Placentia with Rome 385 Of Placentia with Florence 386 Of Placentia with Palermo 387 Of Placentia with Venice 388 Of Placentia with Millan 389 Of Placentia with Naples 390 Of Placentia with Sevil 391 Of Placentia with Valentia 392 Of Placentia with Antwerp 393 Of Placentia with Bergamo 394 Of Placentia with Lucca 395 Of Placentia with Francfort 396 Of Placentia with London 397 Of Orders and Commissions given and received in Exchanges in Placentia 398 Questions upon Exchanges in Placentia 399 Exchanges practised in Palermo and Mesina and how the same are calculated 419 Exchanges of Palermo and Mesina with Lions 420 Of Palermo c. with Placentia 421 Of Palermo c. with Naples 422 Of Palermo c. with Venice 423 Of Palermo c. with Barselona 424 Of Palermo c. with Saragosa and Valentia ibid. Orders and Commissions in Palermo and Mesina given and received in Exchanges there 425 Piratical Trade of Tunis and Argier 19 Q. QUivira 12 Quiloa 27 Quitiana ibid. Quinsay 98 Quinto of money what 116 Quercu 127 The Quality of money Exchanged 273 Questions upon Exchanges that are practised in Placentia 399 R. ROves in weighing what 6 Rotolos in weighing what ibid. 〈◊〉 de la plata 13 〈◊〉 Contracts 28 Rosâ—… on Nilus 29 Rovenas of Aegypt 31 Rhubarb 85 River of Martaban 95 River of Menan 96 Rarities found in Sumatra 105 Rochel and the Trade thereof 125 Rouen and the Trade thereof 126 Runano and the Trade thereof 146 Ravenna and the Trade thereof 147 Ricanti and the Trade thereof 148 Rome and the Trade thereof 150 Rotterdam a seat of the Merchant-Adventurers of London 179 River of Rhine 182 Rivers of Moscovia 219 Rhesian ibid. Russia Niger 222 Riga and the Trade thereof 227 Revell and the Trade thereof 228 Rasia 235 Rhagusa and the Trade thereof 237 Rhodes and the Trade thereof 250
Rutland-shire 269 Richmondshire ibid. Rhadnorshire ibid. The Exchanges of Rouen 277 The Exchanges of Rome 278 Rescounters in Lions what 302 Rules of casting up the Exchanges made in Lions ibid. Rates of Exchanges in Lions which may serve for rates of interest in many other places 303 A Table for casting up the Account of Rebatements 305 Examples of Exchanges practised in Rome and how the same are to be calculated 326 Exchanges of Rome with Placentia 327 Exchanges of Rome with Florence 328 Exchanges of Rome with Venice 329 Exchanges of Rome with Millan 330 Exchanges of Rome with Naples 331 Exchanges of Rome with Genoa â—… Exchanges of Rome with 〈◊〉 lermo 333 Exchanges of Rome with Antwerp 334 Exchanges of Rome with London 335 Exchanges of Rome with Valentia Saragosa and Barselona 336 Exchanges of Rome with Sevil 337 Exchanges of Rome with Lisbon 338 Terms of Payments of Bills of Exchange in Rome 339 Aggio of moneys in Rome 340 Orders and Commissions by Exchange in Rome 341 S. SHipping distinguished into four parts as the duty of four distinct Persons 2 The Ship-wright's duty ibid. Strictness for not paying customs in Russin Denmark Sweden Spain in England Scotland Germany France Italy Netherlands and Turkey 4 Several forts of moneys in use in several Countreys 5 Ship-ponds in weights what 6 Stones in weights what ibid. Staple-commodities what 9 Sugar-trade 25 Sossala 27 Sues in the Red-sea 29. and the Trade thereof 33 Sauchen and the Trade containing the commodities measures and weights thereof 32 Smyrna with the commodities coins accounts weights measures customs and the Trade thereof 45 Mineral Salt 51 Syria in general 54 Sidon and the Trade containing coins weights and measures thereof 58 Syrophoenicia and the Cities thereof ibid. Samaria 65 Sciras and the Trade thereof 79 Sarmacand 86 Siam 88 Surat and the 〈…〉 the coins 〈…〉 c. thereof â—… Ships of 〈…〉 〈…〉 coast of Bengala weights c. 94 Strange manner of buying and selling in Pegu and that coast 95 Spinals digged at Coplan ibid. Siam and the Trade of the coast thereof their weights measures c. 96 Ten thousand sail of Ships belonging to the King of China in one River 98 A Ship yearly at Maccau from Goa going to Japan 99 Summatra and the Trade thereof 105 Socodana an English Factory 106 Spain and the Cities thereof 111 Sevil and the Trade thereof containing accounts coins Exchanges weights commodities measures c. thereof 112 Segovia 115 Salamanca ibid. Saragosa 119 Savoy and the Trade thereof 133 Sienna and the Trade thereof 163 SeventeenVnited Provinces 178 Sidan ibid. Sluis 179 The ancient Staple of Bridges 181 Strasburg and the Trade thereof 186 Stutgard ibid. Spiers and the Trade thereof 188 Saxony 196 Silver Mines in Friburg 202 Stoad and the Trade thereof 203 Sealand in Denmark 210 Scania ibid. Scandia ibid. Sweden and the Cities thereof 217 Stockholm and the Trade thereof 218 Seruca 219 Smaleusco ibid. Samogitia 222 Stralsond and the Trade thereof 229 Stetin and the Trade thereof 230 Servia 235 Sclavonia 236 Spallata and the Trade thereof 237 Schenico and the Trade thereof 241 Scuttari and the Trade thereof 242 Sparta 245 Salonica and the Trade thereof 246 Sidrocapse rich in Mines of Gold ibid. Samothrasia 248 Scio or Chios and the Trade thereof 249 Sciros Island ibid. Salamis Island ibid. Samos Island ibid. Suda a brave Harbour in Candia 251 Strucalli Islands ibid. Santo Mauro 252 Sicilia and the Provinces thereof 256 Sardinia Island 258 Sorlings Islands 262 Scotland and the Provinces thereof 264 Twelve Shires in Wales 268 Somersetshire 269 Surry ibid. Sussolk ibid. Sussex ibid. Staffordshire ibid. Shropshire ibid. Saragosa Exchanges 291 Sevil Exchanges 294 Sight what 299 Exchanges of Sevil 426 Exchanges of Saragosa ibid. T. TRopicks of Cancer and Capricorn 1 Things considerable in bartering bargaining and exchanging 2 Terra Cotterialis 12 Trindado 13 The Trade of America by Spaniards ibid. Tunis and the Trade thereof with the coins weights measures commodities and customs thereof 15 The Trade in general of Argier and Tunis 19 Of Trade in general of Barbary 23 Tarradant ibid. Tombotu 25 Troys Ruines ruin'd 46 Trapesond Chap. 51. with the weights and measures thereof 55 Tyre and the ancient Trade thereof 60 Tripoli in Syria with the Trade containing weights measures c. thereof 64 Turcomania 67 Tauris and the Trade thereof 74 The general Trade of Persia 82 Tartary and the Provinces thereof 83 Tartaria Precopensis ibid. Tartaria Asiatica and Antiqua 85 Tutta 90 The Trade in general of the Sea-coast of India 92 Ticco and the Trade thereof 105 Trade in general of Asia 109 Toledo 114 Tortosa 119 The Trade in general of Spain and Portugal survey'd 121 Thoullousa and the Trade thereof 123 Torrian 125 Thollon and the Trade thereof 130 Turino and the Trade thereof 134 The Trade in general of France 135 Tarranto 139 Treviso and the Trade thereof 152 The Trade in general of Italy 177 Tornay 179 The Trade of Antwerp augmented by three occasions and decayed by three occasions 179 The Trade in general of Netherlands 181 The Trade in general of Aermany 209 The Trade of Prussia ibid. The Trade of Denmark 215 The Trade of Moscovia 221 Transilvania 236 Thebes 246 Thermophilae Straights famous ibid. Thessalia ibid. Thracia ibid. The Trade of the Citizens of Constantinople 247 Tenedos 248 Terra Sigillata 248 Temple for the cure of Lovers 252 Turky or Levant Merchants their original in London 270 Though the Tables of Exchanges differ from the present rates yet the use thereof is no way lessened 274 Terms of payments of Bills of Exchange 299 A Table for casting up the account of Discounts or Rebatements 304 Tripoly in Barbary 15 V. VIrginia 12 Una and the Trade thereof containing the coins weights measures thereof 12 The Undermining tricks of the Dutch in the Trade of Guiny 25 The matchless Villany of the Dutch in the Amboina Islands 103 Validolide 115 Valentia and the Trade thereof 118 Vienne in France 127 Valentia in France ibid. Republick of Venice and the Cities 131 Vicentia and the Trade thereof 154 Verona and the Trade thereof 156 Venice and the Trade thereof 158 Urbin and the Trade thereof 169 Valencourt 179 Utrecht 180 Vienna and the Trade thereof 195 Veteravia 201 Valadomira 219 Volmia 222 Valona or Avalona and the Trade 243 Venetians the second Traders of eminency in Turky 247 Ulster in Ireland 263 The Use of the Table of Exchanges 275 Venice Exchanges 281 Valentia Exchanges 291 Vienna Exchanges 298 Usance what 299 Examples of Exchanges practised in Venice and how calculated 368 Exchanges of Venice with Lions 369 Of Venice with Placentia 370 Of Venice with Rome 371 Of Venice with Naples 372 Of Venice with Florence 373 Of Venice with Millan 374 Of Venice with Antwerp 375 Of Venice with London 376 Of Venice with Genoa 377 Of Venice with Norimberg 378 Of Venice with Bergamo 379 Of Orders and Commissions given
Madera 31 30 8 10 Manicongo S. L. 7  47 10 Morocco 30  30 30 Melinda S. L. 3 20 71 20 Meroe 16 10 68 20 Mombafa S. L. 4 50 72  Mandao   125 25 Mallacca 5  136 30 Mecha 25  75 30 Medina 27 20 73  Meacum 23 15 160 30 Mentz 50 30 27 30 Marburg 51 30   Millain 43  40 20 Modena 45 40 43 50 Majorca 39 35 18 50 Mosco 61    Mechlin 51 15 20 50 Maguntia 50 8 30  Madgburg 52 20 34 30 Mantua 44 30 32 20 Marselia 43 6 24 30 Manfrednia 40 45 42 50 Mesina 38 50 42 46 Minorque 40 10 19 30 Montpelier 43 25 20 30 N.     Naples 39 30 46  Nidrosia 60 50 89 45 Nismes 42 30 25  Nica 40 0 57  Ninive 36 40 82  Narsinga 18  119  Nicodemia 44 20 63 50 Nicopolis 45  56 30 Nova Albion 50  235  Nova Galisia 2 40 298 15 Norumbega 43 40 315 40 Nombre de dios 9 20 294 30 Navaca 17 10 300 20 Narbon 43  19 20 Nantz 48 12 16 20 Nola 40 45 40 15 Novaria 44 30 30 30 Negroponte 38 15 53 40 Norimburg 49 24 31 10 Nursia Italia 42 44 308  O.     Ormus 19  92 0 Odia 12  138 30 Oxiana 20  107 40 Oxford 51 30 19  Orleans 47 10 22  Orcades Isles 61 40 21  Ortingâ— in Sweden 49 58 28 3 P.     Paris 48  23 20 Poitiers 50 10 20  Padua 36 10 44 45 Pavia 33 5 44  Prague 46 10 29 10 Persepolis 30 40 90 40 Ptolemais 29 40 66 40 Palama 28  6 20 Panama 8 10 294 10 Papaian 1 50 297 30 Palermo 37  37  Perpignan 42 40 18 30 Pampelon 42 50 15  Parma 43 30 32 30 Perusca 42 56 36 50 Pisa 4â— 45 36 30 Pistoia 43  33 20 Pescaro 42 38 32 40 Placentia 44  31 30 Portugal 40 45 5 48 Q.     Quito S. L. 10  293 10 Quivira 40  233 41 Quinsay 40  153  R.     Rome 38  41 40 Rheims 48 30 25 25 Riga 59  43 45 Rhodes 35  58  Rhagusa 43 30 42 14 Ratisbone 48 56 29 50 Ravenna 44 2 34 40 Ricanti 43 22 40 60 Rostock 54 36 34  Rouen 49  21 15 Regium 48 15 43 10 S.     Sanguinai 55  306 40 S. Spirits 13 20 322 30 Saba 8 40 68 20 Septa 35 40 22 0 Smyrna 40 30 60 20 Susis 48 00 73 40 Sigestan 31  105 00 Sarmacand 44  109  Samaria 33 40 72 20 Salamanca 41 20 21 24 Siquenea   18 2 Siena 42 15 42 20 Siracuse 37 30 40 30 Stockholm 60 30 47  Strasburg 48 44 27 50 Sevil 37 30 14 20 Salern 40 30 40 20 Salisburg 44 44 35 15 Sardinia Island 38  31  Savoy 43 30 29 10 Salonica 44 30 39 50 Scodra 44  40 20 Sebenico 37  6 36 Spallata 43 15 39 45 Spires 49 20 28 40 T.     Taranto 41 15 43 15 Trevilo 45 30 33 35 Toledo 41  10 30 Tholousa 43 30 18  Turin 44 20 29 30 Tunis 32 30 33  Trent 45 18 31 32 Triers 45 50 4  Tarsus 40  71 20 Tauris 38 20 90 30 Tenduc 37 30 168 30 Titus 36 30 72 10 Trabesond 44 10 140 30 Troas 48 10 31  Tripolis 37  72 20 Tedoro   160 40 Tanger 35 20 30 50 Tombuto 15  20 15 Telesm 34  29  Totantoon 36  248 20 Tombez S. L. 4 10 291 40 V.     Valentia 36 10 12 40 Valadolid 42 20 9  Venetia 45 15 34 30 Verona 45 16 32 45 Vercelles 44 12 29 50 Vicentia 44 55 33  Vienna France 45 12 22 30 Vienna Austria 47 42 38  Vilerbo 42 18 39  Ulma 48 26 30 20 Voltera 42 40 33 50 W.     Witenberg 50 20   Witsburg 50    Wormatia 49 44 28 30 X.     Xaintn 55 40 168 40 Y.     York 54 30 23 30 Z.     Zeilan 11 20 â—38  Zama S. L. 11 40 74 40 Zocatara 12 50 88  Zansibar S. L. 6 30 73  Zimbaos S. L. 25 20 9  Note that S. L. signifieth a Southerly Latitude FINIS ADVICE CONCERNING BILLS of Exchange Wherein is plainly set forth The Nature of Exchange of Monies Several Forms of Bills of Exchange in different Languages Manner of proceeding in Protest Counterwand Security Letters of Credit Assignment and generally The whole Practical Part and Body of Exchanges Anatomized WITH Two exact Tables of New-stile and Old-stile By JOHN MARIUS Publick Notary The like never before Published LONDON Printed for Tho. Horne at the South-Entrance into the Royal-Exchange MDCC ADVICE CONCERNING BILLS of EXCHANGE To the READER I Formerly published a small Treatise concerning Bills of Exchange which having found good Acceptance by all into whose hands it came that ever I could hear of and being since much solicited by some to inlarge upon that Theme that I might be serviceable in my generation and for the more general Good of all I have yielded to their Desires for whereas I did in the first Impression mention only some Customs of Merchants concerning Bills of Exchange I have now in this second not only comprised what was formerly handled and something enlarged upon the same for the better understanding thereof but also added very much in setting down the Nature of Exchange the several Denominations and kinds thereof the Pair of some Countries the proper Appellations and Names of those Persons which do negotiate Exchange how many Persons which do negotiate by Exchange how many Persons are therein active divers Cases propounded and resolved Objections answered to know when any Bill will fall due Monies taken up by Letters of Credit two perfect Tables of the just day from New stile to Old stile throughout the Year which may serve as an indifferent Judg between Party and Party and full Directions almost in all Cases that may happen in Bills of Exchange useful as well to the Merchant-man as to the Notary and others for I have in a manner gone through the whole Body of Exchange As for Attachments and some few other Cases on Bills of Exchange I have purposely omitted lest I should give occasion to any turbulent Spirit to make Contest where none need The right dealing Merchant doth not care how little he hath to do in the Common Law or things of that nature neither have I herein set down several Instances of Exchanges of one Town or Country with another to shew what the
Parcel will amount to with the Exchange from one sort of Mony or Species to another in regard the same hath been already published by Mr. Lewis Roberts in his Map of Commerce but I have given my Advice in the Practical part of Exchanges according to the Custom of Merchants used in England And I have generally back'd my Advice with some Reasons which amongst Wise Men is esteemed more prevalent than Law it self I dare warrant the proceedings of any that shall walk after this my Advice to be good and justifiable by the Law of Merchants but I think I need not hang out a Bush if the Palat be right I know the Wine cannot be disrelished It is the Crop of four and twenty Years Experience in my Employment in the Art of a Notary Publick Reader let not one Perusal suffice thee this Labour is mine the Gain will be thine I am but the Adviser be thou Advised by J. MARIUS Exchange Excellent and Necessary EXCHANGE is by some held to be the most mysterious part of the Art of Merchandizing and Traffick being grounded upon Custom and Experience and the Necessity and Commodiousness of Exchanges is seen in that it hath found a general Allowance in all Countries time out of mind and yet is maintained with the general Consent of all for it prevents the Danger and Adventure of Carriage of Moneys from one City or Country to another And this is done only by two or three Lines written on a small piece of Paper termed A Bill of Exchange which is so noble and excellent that tho it cannot properly as I conceive be called a Specialty because it wanteth those Formalities which by the Common-Law of England are thereunto required as Seal Delivery and Witnesses yet it is equivalent thereunto if not beyond or exceeding any Specialty or Bond in its punctuality and precise Payment carrying with it a commanding Power tho directed from the Servant to the Master for if by him accepted it concerneth him every whit as much to see it be paid with Honour at the time as the Servant can desire or the Party to whom it is payable can expect in regard the Acceptor's Credit lieth at stake And if he fail of Payment at the precise day presently there will issue forth a Protest which may tell tales and soon make a Dilemma in his Commerce for he must not expect to continue his Credit long that doth not pay his accepted Bills at the time appointed and besides his own his Servant or Friend the Drawer's Credit will also be wounded besides the Charges which are incident thereunto and unavoidable Payment of Principal and Charges at the end if the Party or Parties are able for both Acceptor and Drawer are bound till Payment as shall be more particularly shew'd in this ensuing Treatise Thus much in general for I love not to spend more words than need or tell a large Story to little or no purpose Exchange what it is REal Exchange is nothing else but to give or take up Mony in one City or Town to the End to have it again or to restore the just Value thereof in Mony in another Town according to the Price which shall be agreed upon between the Taker and the Deliverer to allow or pay for the Exchange of the Mony and the Loss of Time which will be from the time that the Mony is taken up or delivered till it be restored or received again Inland and Outland Bills all alike AND by this it appeareth That a Bill of Exchange which shall be made for Monies taken up at Edenborough York Bristol Exon Plimouth Dover or any other part of England or Scotland and payable at London is in all things as effectual as any Bill of Exchange made beyond the Seas and payable here in England which we use to call an Outland Bill and the other an Inland Bill both the Inland and Outland being made for Monies taken up by Exchange and Exchange of Monies being a thing which may be done as well from one Town to another as from one Country Kingdom or Nation to another it must needs be that the Bills of Exchange which shall be made as well at one part as at another I mean Inland and Outland ought to be esteemed of equal Worth and the Custom of Merchants on both equally observed howbeit Mr. John Trenchant in his Book of Arithmetick printed at Lions Anno 1608. saith that an Exchange made in the same Realm as from Lions to Paris is not real for that the real Exchange is appointed only for Exchange between Towns in subjection to divers Lords who do not allow Monies to be transported out of their own Territories or because the Monies are not conveyed from one place to another without great Loss Four Persons to make an Exchange and how called ORdinarily there are four Persons requisite to be imployed in taking up or remitting any Parcel of Money by Exchange besides the Broker who doth procure the Parcel as namely two at the Place where the Mony is taken up and two at the Place where the Mony is payable 1. The Party who delivers the Mony by Exchange whom we use to call the Deliverer or the Giver and the French le Banquier because there are who keep a Stock of Mony only to negotiate by Exchange as our Usurers do Mony to deliver at Interest altho these Bankers will as well take up as deliver Monies by Exchange according as they see it most advantagious to them by the Rise or Fall of the Price of Monies by Exchange 2. The Taker or Party who receives or takes up Mony by Exchange and this Party we usually call the Drawer because he may be said to be the chief occasion of the Draught of those Monies from one place to another by virtue of his Bill of Exchange 3. The Party who is to pay the Mony or he upon whom the Bill is drawn or to whom the Bill of Exchange is directed And 4. The Party to whom the Mony is made payable or he to whom the Bill is sent to get accepted and to receive the Mony when due according to the Bill So that by setting down these four Parties and what use there is of them in Exchange of Monies it is apparent that there must be a Correspondency and familiar Acquaintance between the Party who delivers Monies by Exchange and he to whom the same is made payable and the Party who takes up Monies by Exchange and he on whom the Bill is drawn Three Persons to make an Exchange BUT sometimes there are but three Persons needful in the doing a parcel of Mony by Exchange as First the Taker Secondly the Deliverer and Thirdly the Party upon whom the Bill is drawn 1. The Taker he makes and subscribes a Bill of Exchange for so much Mony by him received of the Deliverer 2. The Deliverer he orders the Bill to be made payable to himself or Assigns for the value of himself And
3. The Party that is to pay the Bill for the Taker directs the Bill to his Friend or Servant to pay the same Now this way of Exchange is very useful according as occasion may be For suppose I were to go from London to Plimouth there to employ some Monies in the buying of some Coromodity I deliver my Monies here in London to some body who gives me his Bill of Exchange on his Friend Factor or Servant at Plimouth payable to my self so I carry the Bill along with me and receive my Mony my self by virtue thereof at Plimouth Another way wherein only three Persons are needful in the Negotiation of Monies by Exchange namely First the Drawer Secondly the Party on whom it is drawn Thirdly the Party to whom it is payable 1. The Drawer having Monies in his hands belonging to the Party to whom he orders the Bill to be paid doth make a Bill of Exchange himself confessing the value received in his own hand 2. Charging it on his Friend or Factor 3. Payable to the Party to whom he was indebted There is yet one way more wherein Monies may be remitted by Exchange only with the help of three Persons 1. The Taker 2. The Deliverer 3. The Party to whom payable As thus If I were at Dartmouth or Exon and intended to come to London I would take up Monies by Exchange at Dartmouth or Exon and subscribe Bills of Exchange for the same confessing the Value received of the Deliverer directed or drawn on my self payable to whom the Deliverer should appoint in London Two Persons to make an Exchange LIkewise a Parcel of Money may be done by Exchange between two Persons First the Drawer and secondly the Party on whom it is drawn the Drawer he makes a Bill of Exchange payable to himself or Order for the Value in himself and subscribes the Bill and directs it to the Party that owes him Money and is to pay it by Exchange by which Bill when the Party on whom it is drawn hath accepted it he becometh Debtor to the Drawer and he before the Bill falls due doth negotiate the Parcel with another Man and so draws in the Money at the place where he liveth and makes only an Assignment on the Bill payable to him of whom he hath received the Value The Usefulness of framing Bills of Exchange after these several Forms before-mentioned will be found out according as each Man's Occasion shall present in his Trade and Commerce by Exchange which is so necessary that there is fearce a Merchant but at some time or other one way or other doth either receive or pay Monies by Bills of Exchange All these manner of Exchanges before-mentioned are termed Real Exchange because it is a thing really done and the Mony really Exchanged from one place to another There are other Exchanges of Monies so called but improperly as Dry Exchange Feigned or Imaginary Exchange Small or Petty Exchange Dry Exchange DRY Exchange is when I having occasion for Monies desire a Banker to lend me 100 l. at Interest for a certain time the Banker unwilling to deliver at Interest offers me 100 l. by Exchange for Amsterdam whereunto I agree but not having any Correspondence there the Banker bids me make my Bills of Exchange for so much Mony to be paid at double or treble Usance at Amsterdam by any imaginary Body at the Price the Exchange shall there go at which I do the time being run out comes a Protest from Amsterdam for Non-payment with their Exchange of the Mony from Amsterdam to London all which with Costs I must repay him here in London for the Mony he lent me Feigned Exchange FEigned Exchange is when I ow a Banker Monies and have none at present to pay I desire time the Banker grants it me but I am to pay him his Mony by Exchange at the time at Rouen yet we are agreed between our selves that if I pay it him here in London at the time then I am free otherwise I am bound as above In the interim the Banker writes to his Friend at Rouen that against such a time he send him from thence a Bill of Exchange for the like Sum feigning that he oweth it him there After the time is expired comes a Bill of Exchange from Rouen to pay here so much as he owed there with the Rechange all which the Banker puts to my Accompt and per our Agreement will force me to pay in case I do not pay him here at the time agreed upon Petty Exchange PEtty Exchange is the Changing of one sort of Mony for another as to exchange 20 s. in Silver for 21 s. in Brass or Copper Farthings and the like But these three last-mentioned kinds of Exchanges I intend not to insist upon in this ensuing Treatise in regard they are not so commendable as the Real Exchange nor as I conceive much practised in these parts PAIR PAir as the French call it is to equalize match or make even the Mony of Exchange from one place with that of another when I take up so much Mony per Exchange in one place to pay the just Value thereof in other kind of Mony in another place without having respect to the price currant of Exchange for the same but only to what the Monies are worth and do currantly pass for in each place according whereunto is easily found out the Profit and Loss which from time to time is made in whatever Parcels of Mony drawn or remitted by Exchange and it is likewise delivering Mony at Pair when there is received in one Town just so much Mony as was delivered by Exchange in another Town as when I deliver by Exchange 100 l. sterling at York to receive 100 l. sterling at London which is done only by the Loss of time For what Parts the Exchange is made THE Price of Exchange of Monies from one Country to another is usually made from and to the most eminent Cities or Towns in each Place or Country where Commerce and Trade is held between Merchants in Exchange of Monies and the Trade ceasing at any Town the Price currant for Exchange for that Town ceases with it As for instance when the English Merchant-Adventurers had their Factors and Company at Delft then there was a Price currant of Exchange from London to Delft but the Company removing from Delft to Rotterdam where they are at present there is now no Price currant of Exchange from London to Delft but from London to Rotterdam Upon what the Exchange is valued NOW most Countries using several kinds of Monies different in Value one from another the Exchange is valued or rated upon some one certain most considerable Species or sort of Mony for each Country or Town as followeth The Exchange of Monies from London to Antwerp Amsterdam Middleborough Lisle and Rotterdam is usually accounted and valued on the Pound sterling of 20 s. English Mony that is to say to pay after the
rate of so many Shillings and so many Pence Flemish Mony for every Pound sterling the Exchange from London to Hamburgh is on the Pound sterling to pay so many Shillings and Pence Hamburgh Money per Pound sterling which differeth something from the Flemish Mony The Exchange from London for Paris and Rouen is valued on the French Crown that is to pay so many Pence and so many parts of a Peny sterling for every French Crown The Exchange from London to Venice is made on the Ducat so many Pence and parts of a Penny sterling for every Ducat And the Exchange from London to Legorn is made on the Dollar or Piece of Eight to pay so many Pence and parts of a Penny sterling for every Dollar and these are the most usual Places for which there is a Price currant of Exchange at London at present The PAIR of several Countries THE Pair at Antwerp Amsterdam Middleburgh Lisle and Rotterdam with our Pound sterling is 33 s. 4 d. Flemish to a Pound sterling which 33 s. 4 d. Flemish do make 10 Gilders at 2 s. sterling the Gilder or 10 Livres Tournois Pair at France THE Pair at Paris Rouen and other Parts of France with our sterling Mony is at 71 Soulz the Crown or 6 s. sterling the French Crown of 3 Livres Tournois which 3 Livres make 6 s. sterling every Livre at 2 s. sterling and every 10 Soulz French rekoned at 12 d. sterling Pair at Legorn THE Pair at Legorn with our sterling Mony is at 4 s. 6 d. or 54 d. per Dollar or Piece of Eight Pair at Venice THE Pair at Venice with our sterling Mony is at 6 Livres and 4 Soulz of Venice per Ducat or 4 s. 3 d. or 51 d. sterling per Ducat Pair between Antwerp and Paris or any part of France THE French Crown of 60 Soulz or 3 Livres Tournois wherein Exchanges are usually made for France is worth 89 31 67 gross of Antwerp which is indeed the true Value of the Crown If then the Bill of Exchange be made for less than 89 37 67 gross per Crown of 3 l. Tournois there is a Loss thereby and if for more there is a Gain So that 89 37 67 gross being the Pair in Exchanges between these two Countries in the Crown of France and the Gross of Antwerp you may presently see whether there be Loss or Gain by any Parcel done by Exchange And the like may be done between any other two Places having first found out the Pair or equalizing the Mony of one Country with that of the other Country where the Exchange is to be made and knowing at what Price the Exchange then goes the Loss or Gain will soon appear But this Pair being grounded principally upon the currant Value of Coins the Plenty and Scarcity thereof the rising and falling Inhancement and Debasement of the same it must necessarily follow that the same is subject to change as Experience doth shew Hamburgh Pair TWenty Shillings sterling for Hamburgh at Pair is wont to be reckoned four Rix-Dollars which makes Flemish 33 s. 4 d. Receive your Mony before you part with your Bill by Assignment to receive the Mony elsewhere WHen a Bill of Exchange is due and the Party to whom it is payable or his Servant comes for the Mony to the Party who hath accepted the Bill and ought to pay the same demanding Payment thereof and he writes him a Note to go to a Goldsmith or to such a Place to such a Man and there orders the Mony to be paid Or that he gives him another Bill of Exchange due upon another Man and sets his Name on the Backside thereof leaving some space above his Name to make a Receipt for the Mony as is usual I would advise the Party who is to receive the Mony to keep his Bill I mean the first mentioned Bill of Exchange in his Custody till he hath received his Mony by Assignment as above and then he may either leave his Bill with the Goldsmith or Party of whom he hath received the Mony or else he may carry the Bill back to the Party that gave him the Note or other Bill of Exchange to receive the Mony by according as he shall order him But I should not advise to part with the first-mentioned Bill and to give it up to the Party upon whom it is drawn upon the Receipt of his Note or other Bill of Exchange for the Mony till such time as he be actually possessed of his Money I know the contrary is sometimes practised namely upon the receipt of such a Note c. to give up the Bill of Exchange but then here is the Inconvenience If the Mony be not presently paid me at the time upon such Note c. I am hindred from protesting my Bill of Exchange which I have deliver'd up as satisfied and so whereas I before had both the Drawer and Accep or bound and it may be the Endorsers also I have now only the Acceptor upon his single-sol'd Note c. And if the Acceptor or Party on whom my Bill is drawn in this Case of Assignment will not trust me with his Note c. whereby to go to receive my Mony I have less reason to trust him with my Bill of Exchange before I have my Mony for should I receive my Mony upon his Note c. and afterwards not deliver him up his Bill of Exchange if I am a solvable Man and of known Residence his Bill will do me little good for the Payment will appear upon the Testimony of the Goldsmith or Party that paid the Mony upon the Note c. but if I deliver up my Bill upon the receipt of his Note c. and then have not my Mony I must rest only upon him for my Mony and dance after his Pipe which I hold not convenient only I concieve it good for the Party that makes such a Note to mention in it the Party's Name to whom the Mony is to be paid and upon Payment of the Mony to take up that Note and Bill of Exchange and then there can be no Danger But suppose I give such a Note to receive the Mony by not mentioning in it to take up my Bill of Exchange the Party to whom I give this Note receives the Mony assigns his Bill of Exchange which he hath on me to another Man and plays the Knave and absents himself Cannot this other Man sue me for the Mony on my accepted Bill I answer he can and therefore it is good to know the Party to whom I give such a Note and mention in my Note that upon payment of the Mony the Goldsmith c. do take up my Bill of Exchange with that Note But now if he give me another Bill of Exchange to receive my Mony by and I go to the Party to whom it is directed and he do not presently pay me it being the third day after the Bill is due I ought
not well known to the Party that is to deliver the Mony or if the man that world take up the Mony by Exchange be not esteemed of sufficient Credit for the same with the Deliverer and thereupon if the Deliverer of the Mony shall desire another man to be bound with the Taker for the Mony that is to be delivered by Exchange and to be his Surety and engage himself for the Mony delivered this may be done two manner of ways For first either the Party who is the principal Taker may make three Bills of Exchange first second and third all of one tenor and date for the Mony he is to take up in the usual manner payable to the Party who is the Deliverer of the Mony or to his order for the value received of himself and the Party who is to be bound as Surety may only subscribe the third Bill of Exchange with the principal Taker or Drawer which third Bill the Deliverer may keep by him for his security Or else secondly only two Bills of Exchange first and second may be made and subscribed by the principal who takes up the Mony payable to him who is to be the Surety or his order for the value of himself and then the Surety must make an Assignment upon both Bills of Exchange and make them payable to the party who really and indeed doth deliver the value to the principal Taker or to whom the same Deliverer of the Mony shall appoint the Surety in the Assignment confessing the value received of the true and real Deliverer of the Mony and in either of these ways especially in the former of them the principal is wont to give Bond to the Surety if he desire it to save him harmless according to reason And both of these ways are good and Merchant-like though acted variously for by the former way the Deliverer of the Mony hath two Men equally bound unto him by the third Bill of whom they do confess to have received the value and he that is properly but the Surety hath not the principal taker or Drawer of the Mony bound unto him in or by those Bills of Exchange but only by his Bond which he doth make thereupon but by the latter way only the Surety is bound to the Deliverer of the Mony by the Assignments which are to be made upon the Bills of Exchange and the principal Drawer is bound to the Surety by the Bills of Exchange which only the principal doth subscribe and wherein he doth acknowledge the value received of the Surety as is before expressed and in this latter way if in case the Bill be not accepted and paid according to the tenor thereof then the true Deliverer of the Monies comes upon the Surety by virtue of his Assignment for repayment and the Surety comes upon the Principal by virtue of the Bill of Exchange by him subscribed as above I shall not prescribe either of these ways unto any but shall leave it in the choise of every Merchant to follow which of these two ways he liketh best and may sute most to his occasions Note in your Book the name and place of abode of him who presents a Bill to be Accepted IT happeneth often in Foreign Bills of Exchange that they come payable either to the same Party that did deliver the value or to his order or else to some other body living beyond the Seas who usually doth send the first Bill of Exchange to some Friend of his here in London only to get accepted and then to return it him again that so being accepted he may the better negotiate the same Bill of Exchange again and take in the value thereof and make an Assignment for the same either on the accepted Bill or on the other Bill of the same tenor not accepted according as occasion shall be Now if an Assignment do come on the second Bill payable to another person without order where to take up the first accepted Bill this second Bill being presented to the Party on whom it is drawn to be accepted he doth deny acceptance thereof alledging that he hath already accepted the first Bill but he doth not know to whom or in whose hands the same first accepted Bill doth remain and thereupon the Party which hath the second Bill wanting acceptance thereof doth cause Protest to be made for non-acceptance for prevention whereof and that each party may receive all due content as is fitting I would advise all Merchants that have such Bills of Exchange presented unto them to be accepted to note down in their Books the name of the party by whom the said Bill is presented unto them to be accepted and his place of abode that so if in case the second Bill be also presented unto them by another party to be accepted the party on whom it is drawn and who hath already accepted the first Bill may give answer to him who shall present the second Bill to be accepted and acquaint him to whom he hath already accepted and acquaint him to whom he hath already accepted the first Bill and where he liveth that so the same may appear to be real and remove scruples or doubts which otherwise may arise therein this I conceive is not yet generally practised and observed by all Merchants trading in Exchange because not commonly known but it is Merchant-like and I have seen it practised by some Merchants here in London and I perswade my self it will be willingly embraced by all those that mean honestly and endeavour after plain dealing which cannot but redound to their credit Keep Copies of Bills sent to get accepted AS it is commendable and for the avoiding of doubts which otherwise may be occasioned for the party on whom any Bill is drawn to take notice where the party liveth that presents him the Bill to be accepted which may be easily done as I have heretofore shewed so on the other side when such Bills of Exchange are sent unto any one to get accepted I advise the party to whom they are sent upon receipt of his Letter with the Bills of Exchange presently to take a Copy of the Bills verbatim in a Book which he may keep purposely for such occasions especially to write down the Names of the several Parties on whom they are drawn or to whom they are directed before ever he go about to get them accepted I confess it is a little pains and may seem at first hearing useless but if maturely considered the benefit will countervail the labour for by keeping Copies of all Bills of Exchange that do come to my hands I can always see who are usual Drawers and Deliverers of Mony by Exchange in those places from whence the Bills do come and if the Bills come from France or Italy I can know how the Exchange went then at those places but especially if the Bills are sent me only to get accepted and then to return them this Copying of the Bills of Exchange
verbatim in a Book before you send or deliver them out to the several Parties to whom they are directed to be accepted is very useful thereby to remember where and to whom you are to call for your Bills again and to see what Bills you want which you have delivered out to be accepted for otherwise you may chance to forget when the Bills are out of your hands to whom they were delivered to be accepted and so be put to a non-plus when you are to return your Friend an answer and to give him an account of all those Bills which he sent you to get accepted especially if you have many Bills sent you at one time It happened once as I have heard that a Merchant had 7 or 8 Bills of Exchange at one time sent him to get accepted and he accordingly did deliver them out to the several parties on whom they were drawn to be accepted but when he was to write his Friend an answer and return the Bills which were sent unto him he did miss one of them and could not in a good while remember with whom he left it or to whom it was sent to be accepted because he had not kept any particular notice thereof which put him to some trouble to recollect himself and to study where he had been and with whom he had spoken and what he had done from time to time from the time he received the Letter with the Bills of Exchange until that instant and at length he did call to mind the name of the Party on whom the missing Bill was drawn and so sent to him and had the Bill of Exchange accepted but before he could remember the party he was in much perplexity whereas if he had kept Copies of the Bills or a breviate or Note of the places dates sums times of payment drawer and party to whom directed such perplexity of mind might have been prevented Make the Directions of Bills on the inside THE Directions of Bills of Exchange is made by the Italians and Dutch usually on the backside of the Bill and the English in their Outland Bills do for the most part writâ— after their Copy but the French do ordinarily write the Direction of their Bill of Exchange in the inside of the Bill beneath on the left hand thereof and for my part I conceive it more convenient to write the Direction of Bills of Exchange under the Bills on the left hand according to the custom of the French and of our English Inland Bills than on the middle on the backside as Italians and Dutch do use to do for the paper being but little on which a Bill of Exchange is usually made if the Direction be on the backside there remaineth small place to write Assignments upon and a Receipt for the Mony when paid whereas if the Direction be written on the inside of the Bill all the outside of the Bill may serve to write the Assignments which many times especially in Outland Bills are three or four upon a Bill and the Receipt for the Mony when it shall be paid the spare place on the inside of the Bill serving only to write the Acceptance Whether a man is bound to present his Bill to be Accepted THere are some which hold an Opinion that a man having a Bill made payable unto him is not bound to get it accepted or to Protest for non-acceptance but that he may keep the Bill by him and never present it to the Party on whom it is drawn until the Bill be due and that it rests at his pleasure as arbitrator whether he please to endeavour to get acceptance of the Bill so soon as it comes to his hands or not To this I say That according to the custom of Merchants here in England if I have a Bill of Exchange sent unto me I ought forthwith upon receipt thereof or so soon as convemently I can to present the same to the Party on whom it is drawn or leave notice thereof at his dwelling-house or place of abode and demand acceptance of the Bill to pay at the time therein limited that so the Party on whom it is drawn may take notice thereof and order his business accordingly True will they say if a Bill be sent to me to receive the Mony for another mans Account and I to whom the Bill is sent am but as a Factor or Agent for the Party who delivered the value then indeed I am to use my diligence to get the Bill accepted and to give him advice thereof with the first because I am but as a Servant for another man and reason teacheth that I must follow his order and use all lawful endeavours for his security but what if the Monies which are delivered by Exchange are my own Monies and the Deliverer be my Factor or Servant and the Bill be payable to me In this case may not I chuse whether I will demand acceptance of the Bill and upon refusal Protest for non-acceptance or keep the Bill by me and never present it to the Party on whom it is drawn until the Bill fall due and then go and demand the Mony and if the Mony be not paid Protest only for non-payment and upon that Protest recover upon the Drawer as well as if I had protested for non-acceptance and sent it back to my Factor or Servant Truly in this case there seemeth to be more reason why it should be arbitrary in me to get acceptance of the Bill of Exchange because the Monies which were delivered are my own Monies and the accepting of the Bill is but as another string to the Bow but if we examin the business a little further neither in this case will it be found arbitrary in me to endeavour acceptance or not for admit the Monies remitted are mine own yet must I receive it in a legal way I cannot receive my Mony of the Party on whom the Bill is drawn before it be due neither can I without discharging the Drawer contract with the Party on whom it is drawn for a longer time than is mentioned in the Bill so that although it be mine own Monies which are remitted yet I am tyed to follow the custom of Merchants and I must not prejudice neither the Drawer nor the Party on whom it is drawn nor mine own Servant or Factor the deliverer Now if the Bill is drawn at double usance and I keep it by me without presenting it until it fall due the Drawer in all that while not having any advice whether it be accepted or not may suffer much damage in reference to the Party on whom it was drawn supposing him to have accepted the Bill Or on the other side the Party on whom the Bill is drawn may suffer in his credit or esteem with the Drawer who is held in doubt whether the Bill be accepted or not and so whether probably it will be paid or not at the time and the Deliverer though only a Factor or
Servant must have advice whether the parcel be accepted or not to govern himself accordingly and doubtless will be glad to hear the parcels he remitteth are accepted and be troubled at the contrary wherefore although the Monies are remitted me for mine own Account yet because the Bill of Exchange doth concern other men as well as my self therefore I ought to have respect unto them also and to follow the usual course of Exchange which is to endeavour to procure acceptation of Bills of Exchange as well as payment and indeed in the very Letter of Advice which is sent by the Deliverer of the Mony be he Servant Factor or Principal to the party to whom the Bills are made payable it is usually expressed in these or the like words Sir here inclosed I do send you four Bills of Exchange for 500 l. viz. 20 Nov. 100 l. per Arthur A. at do uso on Roger G. Ditto 100 l. per Joos D. at do uso 10 days on Gregory N. Ditto 150 l. per Arent B. at 1½ uso on William M. 22 Do 150 l. per Jac. C. at do uso on Frederick V. whereof please to get acceptance and payment at the times when fall due giving advice Now certainly all Merchants are bound to follow Order and consequently to endeavour the acceptance of all Bills of Exchange in the like kind sent unto them or else they break the order of the party which sends the Bills Whether the Accepter is freed by protesting A Bill of Exchange which is accepted and at the time not punctually paid there are other some that think if they should cause a Protest to be made on such a Bill for non-payment that they by protesting should free the party who hath accepted the Bill of Exchange and that they do reserve their right only against the Drawer of the Bill to recover upon him by virtue of the Protest To this I say It is true by protesting the Drawer is liable to make satisfaction but the party which accepted the Bill is so far thereby I mean by protesting for want of present payment from being freed as that he is thereby made more liable or at least liable to pay more than he was before the Protest was made for then he was only liable for the just sum mentioned in the Bill but now after Protest is made for non payment he is liable also to pay all costs dammages and interests c. which the party protesting doth by his Protest expresly declare he doth intend to recover of the Acceptor in usual manner and indeed a Protest for non-payment ought usually to precede an action at Law For by the Protest is proved default of payment of the Mony at the time limited in the Bill and so the Acceptor becomes liable to an Action of the Case and so soon as ever Protest hath been made for non-payment the party accepting may be arrested thereupon which before he could not so legally have been Times of Payment and in what Species EVery Country hath its usance or accustomed time for payment of Monies by Bill of Exchange from one place to another As for instance from London to Antwerp Amsterdam Middleborough Rotterdam Lisle Rouen and Paris usance is one month after the date of the Bill and so likewise from those parts to London usance is one month after date double usance is two months c. and between Hamborough and London Monies are usually delivered at two months and in the Bills of Exchange for Hamborough they do usually express double usance when they intend only two months From Venice and other parts of Italy to Amsterdam c. and from thence to Italy usance is two months from Venice c. to London usance is three months and at Lions and some other places they do usually make their Monies pavable at certain Marts or Fairs and here in England at so many days sight each place observing its accustomed manner and in some places likewise they contract for what sort of Mony to pay either currant Mony in bank or out of bank which is sometime 1 1½ or 2 or more per Cent. difference This is very expedient to be known to the end that he which doth deliver his Mony by Exchange for any place may not be deceived in his expectation as well concerning the time as for the quality of the Mony which is to be paid in Exchange for the Mony which he delivereth Danger in making Bills payable to the Bearer NEver make your Bills of Exchange payable to such an one naming his name or to the bearer hereof which is very dangerous but always make your Bills payable to such an one or his order or his Assigns or the like For a Bill which shall be made payable to Robert W. or the bearer hereof may chance to miscarry or come to a wrong mans hands and he may go and receive the Mony upon such a Bill and the party to whom of right it ought to be paid never the wiser I mean not know of it and he that paid it will produce the Bill it self for his warrant to pay it to whomsoever should bring it so you may chance to be defeated of your Monies and it may be your Friend on whom you drew the Bill be suspected by you to have had a hand in the business though it may be he never had any such thought but paid it really to the party that brought the Bill not knowing him nor ever enquiring where he dwelt or what he was and if you will needs have your Friend bear some blame for paying the Monies in that manner you must bear the greater blame and thank your self for giving such an order for he hath performed your order and so you can have nothing against him unless you can prove a fraud in him but to prevent all such suspicion always make your Bills payable to a certain man by name The Names and Times of Old and New Stile though both agreeing yet how distinguished THE computation or stile of the year of our Lord amongst Christians doth differ in several Countries and Nations both in name and time First in name There is the Julian or English Account which amongst Merchants is called stilo veteri or old stile and there is the Gregorian or Roman Account which amongst the Merchants is called stilo novo or new stile The old stile is used with us in England and at Hamburg Strasburg and other parts of Germany the new stile is used in the Netherlands France Spain and most parts of Christendom Then for matter of time We in England begin our year the 25 day of March they in the Netherlands and other places where they write new stile except at Venice and some parts of Italy begin their year the first day of January Or as Dr. Vilvain saith Christians in general do reckon from Christ's Nativity currant January 1. but the Church of England with Pisa and Siena in Italy from his
because it strikes at the Credit of the party to whom the Bill was made payable As for example if the Master or principal Deliverer of the Mony do make over Monies by Exchange payable to his Servant or Factor and do aferwards hear by certain advice given him that his said Servant or Factor doth take ill courses whereby the Monies and effects which he hath in his hands or which may come to his hands for account of the principal Deliverer may be in danger of being mispent or wasted then and in such case the principal may send his Countermand forbidding the party to whom the Bill is directed not to pay the Mony to that Servant or Factor but to some other person or to keep the same in his hands when due until further order which Countermand must be made and passed before a publick Notary in legal manner and by a Notary notified to the party that hath accepted the Bill or that is to pay the Mony to the end he may not pretend any ignorance thereof and such a Countermand is good and lawful according to custom of Merchants and ought to be obeyed accordingly if the same be notified in due form and time by a Notary to the party which hath accepted the Bill before it be due and neither the Drawer nor Acceptor can suffer any damage in obedience thereto but if the time be expired and the Mony orderly paid before the Countermand come to hand and be notified as above in such case there is nothing to be done for prevention of danger the Bird being already fled and by this which hath been said it may appear that a Bill of Exchange ought not to be paid before it be due as shall be shewed hereafter Usance what it is and how to be accounted A Bill of Exchange made payable at usance double usance or treble usance is to be understood by usance if from any part beyond the Seas except Hamborough and Venice one month next after the date of the Bill and the like of double and treble usance two or three months to be accounted still from the date of the Bill for from Hamborough they usually draw at two months and usance from Venice is three months as I have already shewedâ— but I say always the usance is to be accounted a month from the date of the Bill let the month fall out how it will whether it be a month that hath 31 days 30 days or 28 days each month by denomination is a full and perfect usance for when it is said at usance it is as much as if it were said one month after the date now Merchants usually count twelve months in the year and not thirteen months as amongst Nurses and the female sex 4 weeks or 28 days to a month neither do we reckon every thirty days a month if the month have more or less days in it as some imagine but a full month by denomination from such a day of such a month to the same day of the next month or from the last day of one month to the last day of the next month As for instance A Bill of Exchange dated in Amsterdam the 20th of December new stile which is the 10th of December old stile payable at usance will be due the 10th of January old stile A Bill dated the 15th of June new stile which is the 5th of June old stile payable at usance will be due the 5th of July old stile and a Bill dated the 10th of February new stile which is the last of January old stile made payable at usance in London will be due the last of February old stile and a Bill dated in Amsterdam the 9th of January new stile payable at double usance will be due in London the 27th of February old stile as will be made very plain and manifest by the Tables at the end of this Book and in like manner is to be accounted from any other date for usance double usance or treble usance always reckon from the date of the Bill month after month Days sight A Bill payable at so many days sight is to be accounted so many days next after the Bill shall be accepted or else protested for non acceptance and not from the date of the Bill nor from the day that the same came to hand or was privately exhibited to the party on whom it is drawn to be accepted if he do not accept thereof for the sight must appear in a legal way which is approved either by the parties under-writing the Bill accepting thereof or by Protest made for non-acceptance and therefore if a Bill so made payable be omitted to be presently upon refusal protested for non-acceptance all that time which shall run out between the private presenting of the Bill and the protesting thereof is lost time and not to be accounted as part of the number of days mentioned in the Bill of Exchange except the party on whom the Bill is drawn do of his own free will acknowledge to have seen the Bill from the first day it was privately presented unto him An accepted Bill lost by the party to whom payable IF an accepted Bill of Exchange be lost by the party to whom it is payable or his Servant or any other whom he had intrusted with the Bill I do advise him presently so soon as he finds the Bill missing to notifie the same unto the party on whom it is drawn and who hath accepted the same that he may take notice thereof to the end that if peradventure the accepted Bill be found by a stranger nothing concerned therein and he should knavishly come or send for the Mony or use any indirect ways for the fingering thereof the party that accepted the Bill may be premonished at his peril not to pay it to the bringer without the special order of the party to whom it is payable or that lost the Bill and this Notification to be made by a Notary that may give testimony thereof if occasion be to serve and prevail to the right party to whom the Bill was made payable or that lost the Bill in time and place according to reason and when the Bill falls due and the time is come for him to go for the Mony the party which had accepted the Bill is not freed from present payment of the Mony because the Bill is lost for though the accepted Bill be lost yet he that accepted it is not and though a specialty may be mislayed and not presently found yet that doth no ways free the deptor from performing his engagement Neither must the acceptor think this to be a sufficient answer for him to say shew me my accepted Bill and I will pay you or else I will keep the Mony until you bring me the second Bill and such like flams meerly to make use of the Mony a little longer time thinking that because the accepted Bill is lost and it may be the second Bill not yet come to
nor less because usance is one month by denomination to be accounted next after the date of the Bill as I have very fully shewed here before and there is not any month in the year which hath in it above 31 days Now therefore upon an indifferent account fifteen days must be reckoned for half usance because fifteen is the half of thirty and a day consisting of 24 hours cannot be subdivided from its proper denomination So that if you have a Bill of Exchange dated the third of February new stile and payable in London at half usance and would know when this Bill falls due you must first as before look to the date and you shall find that the third of February new stile is the 24 of January old stile from whence count fifteen days forward or add fifteen days to the twenty fourth of January and you will find it will fall due the eighth of February inclusive following and in case you have a Bill dated the third of February new stile and payble at usance and half then count from the 24 of January old stile to the 24 of February old stile for the usance and from thence to the 11 of March inclusive except in Leap-year is 15 days or half usance on which 11th day of March and with the same day the usance and half will expire and that is the last day of the usance and half which day must be fully expired and past before the Mony ought to be paid and before any Protest can be legally made for non-payment Three days after due YOu are to take special notice that the day on which any Bill of Exchange doth fall due is always to be accounted as part of the time limited in the Bill of Exchange as included therein so that the day on which any Bill of Exchange doth fall due doth belong to the party which is to make payment thereof as being part of his time As now for example Suppose a Bill is made payable at thirty days sight and it be accepted the fifth of February February having but 28 days except in Leap year you must reckon from the fifth of February to the sixth of February for one day and from thence to the seventh two days and so forward allowing 24 hours to a day it will fall due or the 30 days sight will expire with the seventh of March inclusive and in like manner with Bills payable at usance double or treble usance or Bills payable at a prefixt day the full time of the usances or prefixt day must be taken inclusive as part of the time appointed for payment of the Bill and three days next after the expiration of that day are usually allowed in London as well for him on whom it is payable to procure payment thereof as for him on whom the Bill is drawn to pay it unless it be a Bill of Exchange made in France and that the French Post shall happen to depart on the second day after it be due or that the third day be a Sunday or no working day or day of publick commerce and trade And in any of those cases the Mony must be paid the second day after the Bill falls due or else Protest must be then made for non-payment that so lawful diligence may be used within the three days and advice thereof may be sent away by the very first Post after the Bill falls due For although three days are usually allowed after a Bill is due yet it is with this proviso that the same be not to the prejudice of him to whom the Bill is payable or of his Correspondent or the Drawer for if the Mony be not paid and the Protest made within the three days next after the Bill falls due and that there should happen in the interim any misfortune to the party on whom the Bill is drawn that he should be non solvent or the like those in France concerned therein will sooner take advantage thereupon to avoid the repayment than they will do in the like kind who take up monies by Exchange in Holland or other parts whose Bills if not paid the second day after due and that the third day fall on a Saturday they many times forbear to protest for non-payment until the Monday following however this is a general rule namely that according to custom of Merchants in London protest ought to be made for non-payment within three days after the Bill falls due and the protest ought to be sent away by the first Post next after the time of payment is expired be it for what part soever I know there are some that would not have Sunday reckoned for one of the three days after a Bill falls due Truly I think they may as well not reckon Sundays to be any of the thirty days sight or the like for my part though payments are not used to be made on Sundays neither ought protest to be made on a Sunday for non-payment I cannot but reckon Sunday amongst the number of the three days for I am sure if Saturday be the second day after the Bill is due then Monday will be the fourth day after it is due Sure bind sure find Protest must be made though the three days are expired BUt if protest for non-payment be not made within the three days after a Bill of Exchange falls due and that through negligence or otherwise it be forborn four five six or more days after the time limited in the Bill of Exchange Yet nevertheless even then if it be not paid the Bill of Exchange must be protested for non-payment I say although the three days are expired because you cannot well take any course in Law against the party which hath accepted the bill until you have made a legal demand of the mony by a publick Notary neither is the party that drew the bill bound or liable according to custom of Merchants to repay the mony unto him of whom he hath received the value until such time as there doth appear a protest made for non-payment to prove that the party who accepted the bill or he on whom it was drawn hath not paid the mony upon that Bill of Exchange but though a bill must be protested although the three days are expired yet I would never counsel any body to omit protesting a Bill of Exchange the third day after it is due For if it be not protested before the three days are expired and the party which hath accepted it shall then happen to be non solvent as I said before it may be alledged by the Drawer or Endorser that the party to whom it was payable hath prejudiced them in neglecting his diligence therein and the party that drew the bill especially if it be a French bill that is to say a bill made in France may happen to delay if not free the second payment thereof upon that account for although the Drawer is bound to the deliverer until the bill be satisfied yet it
is with this proviso that protest be made in due time and lawful diligence used for receipt of the mony by the party to whom it is payable according to his duty that so the Drawer may not suffer through his neglect It is good to walk securely there is no danger at all in protesting within the three days after a Bill of Exchange is due but there may be danger in forbearing to protest within that time Wherefore my advice is let the party up on whom the Bill is drawn be never so good and able a man if he do not pay within the time accustomed cause the Bill presently to be protested for non-payment Bill payable at a prefixt day A Bill of Exchange made at any part beyond the seas where they dousually write new stile which is ten days before our English stile being old stile and such a bill being made payable on such or such a day of such or such a month you must know in this case that you have nothing to do with the date of the Bill but you are only to look to the day of the month positively expressed in the Bill and that very day of the month according to our stile here in England must be expired before the bill will be due and a bill so made payable is not to be understood on such or such a day new stile except the same be so particularly expressed but on such or such a day old stile according to the stile and usual computation observed at the place where it is made payable As for instance suppose a Bill of Exchange were made payable in this manner following Laus Deo in Amsterdam the 7th of February 1655. for 200 l. sterling ON the ninth day of March next pay this my first Bill of Exchange to Mr. Robert W. or his assigns the sum of two hundred pounds sterling for the value received of Mr. Charles D. and put it to account as per advice Francis P. To Mr. George H. Merchant in London P â— This Bill of Exchange will not be due until the ninth day of March English stile and it cannot be accounted due as some would have it on the twenty seventh of February old stile which is the ninth of March new stile for it relates to the stile of the place where the bill is made payable and not to the computation of the place or country where the Bill is dated For suppose now Mr. Robert W. in the Bill mentioned should demand payment of this Bill on the last of February and first of March old stile and Mr. George H. should tell him that he would pay it the ninth of March our stile when due according to the tenor of the Bill and not before I would fain know how any Notary if he understand himself can protest upon such an answer or can draw out any legal protest for non payment before the ninth of March old stile be expired For pray observe if the Notary dateth his protest for non-payment on any day before the ninth of March old stile according to the computation of the place where the bill is payable he will make his protest bear date before the bill is due and so will be illegally made and even the protest it self will carry that along with it which will certainly cut its own throat for the bill is made payable the ninth and the protest will bear date before the day of payment be come as may evidently appear And yet this very case to my knowledge hath stumbled a Merchant of no small rank and commerce in Bills of Exchange who having such a Bill of Exchange payable to him would fam have persuaded himself for the acceptor nor me he could not that the bill would be due the 27 old stile and if the party on whom the bill was drawn would not so accept it my Merchant was very earnest to have a protest made whereupon to make things plain and thereby convince him of his errour I directed the acceptor to underwrite the Bill thus Accepted to pay the ninth of March according to the tenor of the Bill which when my Merchant beheld and well considered he perceived his error and well approved of the acceptance for it was good and so tarryed till the ninth of March for his mony as he ought to do Acceptance by Wife or Servant A Mans Wife or Friend or Servant cannot accept a Bill of Exchange for him in his absence without sufficient authority from him by a Letter of Attorny under his hand and seal delivered in the presence of sufficient witness for the doing thereof a mans word as if he should say to his Wife Friend or Servant If any Bills of Exchange shall come drawn on me in my absence accept them for me is not sufficient neither will a bare Letter serve written to his Wife Friend or Servant but there must be hand and seal and witnesses which if occasion be may prove his legal consent to such acceptance For indeed it is against reason that any man should be bound to the payment of any sum of mony without valuable consideration or without his own free consent It is true if the Wife or Servant have formerly accepted several Bills of Exchange in the like kind and when the party on whom they were drawn hath come to town he hath approved thereof and paid the bills at the time and so the Wife or Servant are wont to do from time to time and that this can be proved I conceive it will come very close to him but we hold a legal order for acceptance ought to be granted by Letter of Attorny under hand and seal as I have already shewed A Bill drawn at one place and payable at another IF a Bill of Exchange be drawn upon a man living at one place or City and pay able to a man living at another place and that the mony is not to be paid in the City or Town where the party on whom the bill is drawn doth dwell but in some other City or Town where the party to whom the Bill is payable doth live or at a place for and at which there is a usual course of Exchange and that the party on whom the Bill is drawn doth dwell some score of miles off from thence Such a Bill as this so soon as it comes to your hands you may send it down to some friend in the same Town where he on whom it is drawn doth live to get acceptance thereof and then to be returned to you but when the Bill falls due you need not seek farther for payment than at the house or in the place where the Bill is made payable and in default thereof you must there cause protest to be made in due form As for instance suppose a Bill of Exchange be drawn from Rouen and directed thus To Mr. William P. Merchant at Southampton but made payable thus Pay this my first of Exchange to Mr. Samuel B.
or Assigns in London or thus Pay this my first Bill of Exchange at the house of Mr. Roger C. in London to the order of Mr. Benjamin L. c. this Bill must be sent down to Southampton to some friend there to present to Mr. William P. to get accepted but if he refuse to accept the Bill you may either protest at Southampton for non-acceptance or else the friend there may return the Bill with his answer of refusal by a Letter to London to his friend that sent him the Bill and by the help of such a Letter protest may be made at London for non-acceptance But now when this Bill is due you must then only endeavour to get payment at London according to the express words and tenor of the Bill and if no order be given at the house of Mr. Roger C. in London for payment or if a particular house be not expressed but only the Bill is payable in London if you have not your mony brought you within the three days after the Bill is due you must cause protest for non-payment to be made in London according to the usual manner The Taker bound to the Deliverer and the Acceptor bound to the Party to whom payable YOu may please to take notice That generally in all Bills of Exchange the party that draws or under writes the Bill or the taker which is all one I say he is bound to the deliverer or to the party of whom the value was received and the acceptor or party that doth accept the Bill is bound to the party to whom the Bill is made payable For although as well the Taker or Drawer of the Bill as also the Acceptor are both bound in the Bill and both equally liable for the payment thereof yet they are not generally both bound to one man I say generally for if the Deliverer be servant to the party to whom the Bill is payable then indeed the Drawer may be said to be bound to the party to whom it is payable as well as the Acceptor Or if the Deliverer be the principal and he remits his own monies by exchange payable to his servant in this case likewise both Taker and Acceptor may be said to be bound to the Deliverer But generally in parcels remitted and taken up by exchange between Merchant and Merchant the Taker is properly bound to one and the Acceptor to another though both of them are liable until the Bill be satisfied So that if the accepted Bill be not paid at the time and protest made for non-payment and there be occasion to commence a sute in Law against the Drawer it must be entred in the name of the Deliverer and in like manner if a sute be commenced against the Acceptor it must be made and prosecuted in the name of the party to whom the Bill is made payable for the party happily that draws the Bill takes no great notice to whom it is made payable he being thereunto directed usually by the party that delivers him the value Neither doth the party which accepts the Bill take much cognizance of the party that did deliver the value but only of the party that drew the Bill with whom he corresponds and of the party to whom it is made payable to whom by his acceptance he bindeth himself for the payment And so likewise where there are any Assignments on Bills negotiated always the party that receives the value is directly bound to him of whom he hath received it and the Acceptor to the last assigned Better security IF a Merchant which hath accepted a Bill of Exchange shall happen to be non-solvent or publickly reported to be failed of his Credit and that he doth absent himself from the Exchange in the interim before the Bill of Exchange by him accepted be due You must then presently upon such report cause demand to be made by a Notary for better security and in fault thereof cause protest to be made for want of better security and send away that protest by the very next Post that so upon receipt thereof by your friend which sent you the Bill he may procure security to be given by the party which drew the Bill One string being crackt you must seek to get another new one that so you may still have two strings to your bow And when the Bill is due if not paid you must then protest again for non-payment and send away that protest also Charges and the Drawer or his surety must bear and pay as well principal as charges such as is port of Letters cost of protests and if the mony be taken up per rechange on him the price of rechange and brokerage Protest in the day time IF at any time you have occasion to cause protest to be made on any Bill of Exchange either for non-acceptance better security or for want of payment always be sure to cause protest to be made in the day time that is to say between sun rising and sun setting but tarry not until the last hour if you may do otherwise and when I say between sun and sun my meaning is in the day time or time of commerce and publick trade when and during the time that shops are generally open for one swallow doth not make a summer For it may be in summer time in London some men do open shops by four or five of the clock in the morning but generally not until six or seven and some do not shut up until nine or ten but generally at seven or eight of the clock And again in winter haply some may open about six or seven of the clock in the morning and shut up not until nine or ten whenas generally they open about eight and shut up about four or five of the clock at evening So that as a Bill of Exchange is of great concernment to Merchants in trade and a protest upon any of their Bills may prove to their great discredit A Caveat for Notaries so likewise it is therefore provided by the Law and custom of Merchants that no protest upon any of their Bills of Exchange ought to be made against them out of season or at an unseasonable time when men generally cease to use publick commerce and trade for there is a time of rest as well as a time of labour a time for devotion as well as a time of negotiation a time for private imployment as well as for publick concernment If I should go about ten of the clock at night to a Merchant to buy a parcel of Taffaties would he not be ready to excuse the shewing of them at such an unseasonable hour and desire me rather to come the next morning about nine of the clock and that then I should see them and in so answering me wherein doth he deserve blame may not he for all that continue to be a Merchant of good repute Because he will not shew his goods at such an unseasonable hour can any
made thereupon as I have shew'd before my Advice is That the Receipt which he shall take for the Mony by him paid be made and written under the Protest and Act but not upon the original accepted Bill of Exchange for divers Reasons which I could give but especially I approve of a Receipt upon the Protest and not on the Bill that so thereby he may still keep the Bill free as not being satisfi'd by those whom it particularly did concern only if he will let the Party to whom the Bill is payable and to whom the Mony is paid subscribe his Name on the backside of the Bill to a blank and let the Protest and Act be sent and returned to the Party for whose account he doth honour the Bill but let him keep the accepted Bill by him to be ready upon all occasions against the Acceptor Bill must not be paid before due IF a Bill of Exchange be made payable at usance double usance thirty days sight or at any longer or shorter time and when the Bill shall be presented to the Party on whom it is drawn to be accepted or at any time before the Bill is due he to whom it is payable shall desire to have the Mony presently paid him by way of anticipation before it be due by the tenour of the Bill and thereupon shall offer to rebate for the time Or if the Party to whom the said Bill is directed having some Monies by him and willing to make some Profit thereof shall of his own accord offer him to whom it is made payable to pay him the Mony presently before the time limited in the Bill of Exchange be expir'd in case he will discount for it or allow him some consideration for the time the Party who shall so pay Mony upon any Bill of Exchange before it be due runs in some danger in not observing Order Indeed he to whom it is payable and who does receive the same is in no danger at all by receiving the Mony before it be due but let him beware that so pays it for if the Mony or Parcel which is remitted be really and properly belonging to the Party which deliver'd the same by Exchange to the subscribed of the Bill and if the Bill be made payable to a Factor Servant Agent or Friend of the Deliverer's only to and for the Deliverer's use and if before the Bill is due the Deliverer do send his Countermand as he may do not to pay the Mony to such his Factor Servant Agent or Friend to whom it was payable by the tenour of the Bill but to some other whom he shall appoint In this case he on whom the Bill is drawn ought to be liable to the Payment thereof according to that Countermand to the Party who shall be thereupon so appointed for as it is not properly in his power I mean in the power of the Party on whom the Bill is drawn to prolong the time of Payment so as that he may chuse if he will pay the Mony at the time limited in the Bill or make the Party to whom it was payable to carry any longer for it neither can that Party to whom the Bill is payable in the case before mention'd warrantably shorten the time limited and appointed in the Bill or agree with the Party on whom it is drawn to pay him the Mony before it be due for the bargain is made between the Deliverer and the Taker and respect ought to be had thereunto and altho this case of countermand doth not ordinarily and commonly happen yet it may happen and I have known it come to pass and who can certainly assure himself that the same will not befal him in his Payment of Monies on any Bill of Exchange before it be due For my part the Advice which I desire to give herein is such as may be for the Security of him that parts with his Mony that he may do it upon good grounds and so may be warrantably discharged but that he cannot well be in breaking Order wherefore I shall never advise any to pay Mony on Bills of Exchange before they be due Second Bill with an Assignment IF a second unaccepted Bill of Exchange be sent to you from the Party to whom it is payable with an Assignment on the backside thereof ordering the Payment to made to your self for the Value received of your Friend or Factor presently upon receipt thereof you must present or cause the same to be presented to the Party on whom it is drawn to be by him accepted unless you have the first Bill already accepted If the Party on whom it is drawn do refuse to accept the second Bill pretending that he hath already accepted the first Bill to another Man unknown or that he cannot name unto you or if you cannot be actually possess'd of that first accepted Bill you ought upon refusal of Acceptance to cause Protest to be made for Non-acceptance of that second Bill that so upon sending away the Protest security may be given to your Friend or Factor that the Mony shall be paid to you at the time or at leastwise Protest to be entred for the Party to whom the Bill is directed is not bound by your second Bill to the Payment of the Mony to you till he accept the Bills of Exchange according to Custom of Merchants unless he have already accepted the first Bill and the same be in your custody for tho as well the Subscribed or Drawer of the Bill of Exchange as the Party who underwrites the Assignment confessing the Value receiv'd and likewise the Acceptor of the Bill are all of them liable and bound in the Bill of Exchange yet they are not all immediately bound either to the Deliverer or the Party to whom the Bill is payable but each Party is bound to him with whom he doth more immediately correspond as I have more particularly before declar'd Party dead which accepted IF the Party to whom your Bill of Exchange is directed to accept the Bill and then if he shall afterwards happen to die before your Bill is due you must at the appointed time for payment demand the Mony of his Executors or Administrators at his mortuary House or last Dwelling-house or Place of abode and upon their Refusal or Delay of payment you must protest for Non payment in the same manner as you would have done if the Party on whom the Bill was drawn had been living and had not paid it at the time Party dead to whom payable IF the Party to whom a Bill of Exchange is made payable be dead at the time when it falls due and his Executor or Administrator have not yet prov'd the Will nor taken out Letters of Administration nevertheless you must not omit to make Demand of the Mony at the just time limited in the Bill and if you offer Security to save harmless against the Executors and Administrators of the deceas'd Party and it be refus'd
you must protest for Non-payment Bill without Assignment IN like manner if you have a Bill of Exchange sent to you to get to be accepted payable to another Man and the Bill being accepted and due you have not an Assignment on the Bill from the Party to whom it is payable ordering it to be paid unto you according to Custom of Merchants you must make demand of the Mony upon that accepted Bill without an Assignment and you must offer to give Security to save harmless against the Party to whom the Bill is made payable and all others and if your Proffer be refused you must protest for Non-payment No such Man to be found IF your Bill of Exchange be directed suppose to Nathaniel Q. Merchant in London and you shall have enquir'd on the Royal Exchange and other parts of the City for such a Merchant and shall not be able to find him out or any body that knows him or that indeed there be none of that Name in London then you must carry your Bill to a Notary publick and he must protest thereupon in due form No body at home IF a Bill of Exchange is sent you to get accepted and there be no body at home at the House or Place of abode of the Party on whom the Bill is drawn Or if when your Bill is due you cannot meet the Party at home nor any one else to pay the Mony on his behalf you must cause Protest to be made either for Non-acceptance or Non-payment at his Dwelling-house or Lodging in his Absence which is as effectual according to the known Law of Merchants and the Rules of Equity being made in seasonable time as if the same had been made speaking to him in Person for you cannot be bound it being beyond your power to make him on whom the Bill is drawn abide at home but in reason he is bound to attend his own business at seasonable hours and it concerns him to keep a good Correspondence with his Friends especially in matters of Bills of Exchange whereof he cannot be ignorant No avoiding a Protest AND the truth is if no Protest could be made legally but in speaking to the Party himself a Protest might be prevented at pleasure but it lies not in the power of him on whom a Bill is drawn to hinder the protesting of the Bill if not by him accepted and paid according to the tenour thereof Figures and Words disagreeing A Bill of Exchange tho written in few Words and contain'd in a small piece of Paper yet is of great Weight and Concern in point of Trade between Merchant and Merchant and therefore ought to be writ very plain and legible and without any Blots Mending or altering any word thereof that so there may not arise any Doubt or Scruple in the Payment thereof And therefore it is that Merchants do usually write the Sum to be paid as well in figures as in words at length as you may observe in the several Forms of Bills of Exchange contained in this Treatise And if it so fall out through Inadvertency or otherwise that the Figures and the Words at length of the Sum that is to be paid upon a Bill of Exchange do not agree together if either the Figures do mention more and the Words less or the Figures do specifie less and the Words more in either or in any such case you ought to observe and follow the order of the Words at length and not in Figures until further order be had concerning the same because a Man is more apt to commit an Errour with his Pen in writing a Figure than in writing a Word And also because the Figures at the top of the Bill do only as it were serve as the Contents of the Bill and a Breviat thereof but the Words at length are in the Body of the Bill of Exchange and are the chief and principal Substance thereof whereunto special regard ought to be had and tho it may so fall out that the Sum mention'd in Figures in the Letter of Advice and the Sum mention'd in Figures in the Bill of Exchange do agree yet if the Words at length in the same Bill do differ you ought to follow the order mention'd in Words at length in the Bill and not the order in Figures for the Reasons before alleg'd A Name mended or interlined IF the Name of the Person to whom a Bill of Exchange is made payable chance to be mended or interlin'd in the Bill and the same be accepted by the Person upon whom it is drawn tho it is an Error and justly to be reproved especially in Merchants which indeed doth seldom happen yet the same cannot be a sufficient Excuse for the Party who hath accepted it or any legal warrant for him to refuse Payment thereof at the time unto the Party whose Name is mended or interlin'd in the Bill or unto his Order by his Assignment if the Bill was so mended before it was accepted and be made payable to him or his Assigns for he could not chuse but take notice of the Error when he accepted the Bill and ought to have satisfi'd himself therein before he accepted it if he say it hath been mended or interlin'd since he accepted it he must prove that Bill payable positively to such a Man BUT if the Bill be made payable positively to such a Man and not to such a Man or his Assigns or Order then an Assignment on the Bill will not serve turn but the Mony must be immediately paid to such a Man in person and he must be known to be the same Man mention'd in the Bill of Exchange that so the Mony may not be paid to a wrong Person and the Acceptor forc'd to pay it twice And if the Bill be made payable positively to such a Man as hath been before observ'd such a Man's Name writ on the backside of the Bill in blank is no sufficient warrant for another Man to come as in his name to receive the Mony but the Man himself to whom the Bill is payable must appear in person Bill without Direction IN case a Bill of Exchange do come without a Direction on it that is if it be not directed to any Man only the Drawer has set his Name to it but not directed it to the Party on whom he design'd to charge it yet if in his Letter of Advice to his Friend to whom the Bill is payable or to whom it is sent to get accepted the Bill is mention'd to be drawn on such a Man naming a Man's Name this Friend to whom the Bill is sent ought to present the Bill to that Man to be accepted according to Advice And in case he shall refuse to accept it because it is not directed to him the Party to whom the Bill was sent ought to make Protest for Non-acceptance for he protests against the Drawer in not having taken sufficient care that the Bill might be accepted by some body according
to Custom and the Drawer is justly to bear the Charges thereof for his Omission and Oversight tho I cannot see but if the Party to whom the Bill is presented to be accepted have likewise Advice thereof and sufficient ground or reason to have accepteed it if the Bill had had a Direction on it to himself he may accept the Bill altho the Direction to him be omitted but it must be confess'd it is an Oversight and an Error in the Drawer in omitting to direct his Bill of Exchange and if his Friend do suffer it to be protested I conceive he shall have sufficiently punish'd him for his Error The Drawer repays the Value upon Protest IF a Bill of Exchange be made payable to one Man for the Value receiv'd of another and the Party on whom the Bill is drawn hath accepted it but when it falls due fails in the Payment whereupon Protest is made and by virtue of this Protest the Party who deliver'd the Value recovers Satisfaction of the Drawer In this case the Drawer is freely discharg'd against the Party or Parties to whom the said Bill was made payable either immediately in the Bill or mediately by Assignment or Assignments were they never so many upon it So that neither he to whom the Bill was first made payable nor any other to whom it shall be assign'd in any manner whatever ought to molest or trouble the Drawer or legally according to the Law of Merchants can sue or prosecute the Drawer he having already repay'd the Mony to the right Party whose Receipt and Discharge for the same is a sufficient Release from all further Trouble which may happen Neither can he to whom the Bill is first made payable if but an Assigne of the Deliverer prosecute the Acceptor after the Drawer has given Satisfaction to the Party who deliver'd the Value no more than my Assign can protest and prosecute a Surety upon a Bond payable to me or my Assigns after I have receiv'd Satisfaction from the Principal for tho I must confess in this case the Acceptor is not totally discharg'd for it is suppos'd he did accept the Bill by order of the Drawer or for some other account to whom therefore he must be responsible Yet in reference to the Party who first deliver'd the Value and the Party to whom the Bill was payable supposing himself to be but an Assigné of the Deliverer the Acceptor doth but confirm what the Drawer has done and the Drawer having made Refaction to the Deliverer the Acceptor is likewise discharg'd against the Deliverer and against the Party to whom the Bill was first payable if he be but an Assigné but the Acceptor by virtue of his Acceptance makes himself Debitor and is still liable to the Drawer or to the accompt for which he accepted the Bill till satisfaction be given Letters of Credit THE chiefest means of Correspondence and Trade between Merchant and Merchant from one Place or Country to another doth consist and is born up by Letters missive from one to the other which Letters if not countermanded are binding and may serve for sufficient proof according to the Law of Merchants in case of dispute and therefore it is that Merchants do usually keep Copies of their Letters which they write to their Correspondents by which they know how to order their affairs and to whom they are bound and these Letters have divers appellations tho they serve all for Advice and Order yet some are more particularly call'd Letters of Commission others Letters of Advice others are call'd Freight-Letters and others Letters of Credit Letters of Commission are for buying or selling of Goods freighting Ships taking up Mony or remitting Mony by Exchange or the like Letters of Advice are such as I write to my Friend Servant Correspondent or Principal advising them of Monies drawn or remitted by Exchange Freight-Letters are such as are written upon the Freighting or taking to Freight any Ship or Vessel or any Tunnage thereof informing what Tunnage is taken to freight and what Freight is to be paid for the same Letters of Credit are properly such as are written to furnish Monies by Exchange upon the Credit of him who writes the Letter these Letters of Credit in regard they do more immediately concern the Credit and Honour of the Party who writes the same supposing him to be a Merchant or Trader whose best and chiefest Subsistance is Credit must needs be of greatest concern and most binding by or from the Party or Parties who under-write or subscribe the same to those to whom they are directed or who are concern'd therein in case he or they shall comply therewith because the Credit of him who under-writes the Letter is thereby vindicated and his Honour Repute and Esteem much manifested Now Letters of Credit for the furnishing of Monies by Exchange are of two sorts the one General the other Special The General Letter of Credit is when I write my open Letter directed to all Merchants and others that shall furnish Monies to such and such Persons upon this my Letter of Credit in and by which I bind my self that what Monies shall be by them deliver'd unto the Party or Parties therein mention'd within such a time at such and such Rates or in general terms at the Price currant I do thereby bind my self to be accountable and answerable for the same to be repaid according to the Bill or Bills of Exchange which upon receipt of the Mony so furnish'd shall be given or deliver'd for the same and if any Mony be furnish'd upon such my General Letter of Credit and Bills of Exchange therefore given and charg'd drawn or directed to me altho when the Bills come to hand and are presented to me I should refuse to accept thereof yet according to the Custom of Merchants I am bound and liable to the payment of those Bills of Exchange by virtue and force of such my General Letter of Credit because he or they who furnish the Mony have not so much if any respect to the Sufficiency or Ability of the Party who takes up the Mony as to me who have given my Letter of Credit for the same and upon whose Credit meerly those Monies may be properly said to have been deliver'd The Special Letter of Credit is when a Merchant at the Request of another Man writes his open Letter of Credit directed to his Factor Agent or Correspondent giving him order to furnish such or such a Man by name with such or such a Sum of Mony at one or more times and charge it to accompt of the Merchant who gives the Letter of Credit and takes Bills of Exchange or Receipts for the same Particular Letters of Credit are usually writ and subscribed with the own hand of the Merchant that grants them wherein it is very expedient as well for the certainty of him who is to furnish the Monies that he may be sure the Letters come directly from the
Merchant and so his Credit may not suffer through any Dilemma or Demur in compliance by reason of any Doubt which may be of the Reality of the Letter as for the plain meaning and obligation of the Merchant himself to be responsible for the same that the Merchant do mention or recite something or other particularly which hath happen'd in some former Affairs or Dealings or which is yet depending between them or at least the Date of his last Letter Now in the General Letter of Credit he that writes it makes use of his Credit for his own account and concern in his way of Trade and so there needs no more than his Letter of Credit to make him liable to repay what shall be so furnish'd but in the Particular Letter of Credit he who writes the Letter does it not to make use of the Monies himself or to be imploy'd for his own use but for the use and accommodation of some other Man at whose request he is willing and doth write his Letter of Credit and therefore it is very expedient and ordinary for him at whose intreaty the Letter is written at the writing and upon receipt thereof to give good Security by Bond or otherwise to the Merchant that gives the Letter of Credit for Repayment to him his Executors or Assigns of all such Monies as shall be receiv'd by virtue of the said Letter of Credit for the Merchant by his Letter stands sufficiently bound to his Correspondent and therefore it is but reason that he for whom the Letter is granted should give as it were his Counterbond for Repayment The Bills of Exchange which are to be made for Monies taken up by Letters of Credit do run in the ordinary form of Bills of Exchange whereof I have set down several towards the beginning of this Treatise as for the Form of the General Letter of Credit in regard each Man knows best his own occasions inducing him thereunto whereof the Letter must chiefly consist I shall wave it and only set down the Form of a Particular Letter of Credit which may be as follows Laus Deo in London this 29. of February 1654. Mr. William M. SIR My last to you was of the 12 of January wherein I wrote you what needful in answer to yours of the 7 of the same month This serves chiefly to desire you to furnish and pay to Mr. John G. English Gentleman to the value of two thousand Crowns at one or more times according as he shall have occasion and desire the same of you taking his Receipt or Bills of Exchange for the Monies which you shall so furnish him with and put it to my accompt and this my Letter of Credit shall be your sufficient Warrant for so doing Vale. Yours Thomas P. To Mr. William M. Merchant at Paris Such a Letter as this is to be deliver'd open to the Party who is to make use of it but then the Merchant that writes this Letter of Credit doth usually give notice thereof in or by his next Letters which he shall write to his Friend to whom it is directed who having paid the Monies and taken Receipt or Bills of Exchange for the same must send them back to the Merchant who gave the Letter of Credit for him to demand Payment thereupon of those that of right shall appertain according to reason Put Bill in Letter-Case or Almanack IN regard Bills of Exchange tho of great concern are ordinarily written upon small pieces of Paper about 3 or four fingers broad by reason of which they are more subject to be lost especially if you carry them loose about you therefore I would advise you for prevention to keep a Letter-Case or which is better a Pocket-Almanack or small Pocket Paper-Book with Clasps and put your Bills of Exchange therein that so they may be kept clean and whole and less subject to be lost How to bring French Crowns into sterling Mony IF you have a Bill of Exchange sent you from France the Mony to be receiv'd in London and your Bill be remitted to pay so many Crowns at such or such a rate as it is usual to do To know how much you must receive here in sterling Mony you must first bring your French Crowns into Pence sterling at the price or rate set down in your Bill and then bring your Pence into Pounds and you have your Desire As for example If your Bill be drawn to pay 250 Crowns at 56¼ d. per Crown first multiply the 250 Crowns by 56 d. this makes 14000 pence whereunto add for the ¼ 62½ pence because 62½ is the ¼ part of 250 and it will make 14062½ sterling and divide the 14062 by 240 d. because 240 d. make a pound sterling and it will produce 58 pounds sterling and there will remain 142 pence which divided by 12 d. will make 11 shillings and there will remain 10 d. then add the ½ d. remaining of your multiplication and the total is 58 11 10½ As for Example thus By the same rule you may reduce Ducats Dollars and Pieces of Eight into sterling Mony when you know how many Pence sterling the Ducat Dollar or Piece of Eight is valu'd at for the Exchange thereof but because this properly belongs to the Art of Arithmetick whereof divers able Men have already publish'd several Treatises in French and Dutch and also in English some whereof have come to my hands therefore I shall not proceed any further herein It suffices that what I have in this Treatise declared is warrantable according to the Law of Merchants and enough to guide any in the Trade of Exchange beyond what hath ever hitherto been publish'd by any which I will aver and justifie Directions concerning the two ensuing Tables THE first Table is for any Year except Leap-year The second Table is for Leap-year only which happens every fourth year as namely Anno 1700 1704 1708 c. In the first Column of either of these Tables I have put the New Stile or the Roman Account of the days in the year in regard it is ten days before our English Account And I have plac'd the English Account or Old Stile in the second Column and so again the New Stile in the third Column and our English Stile in the fourth and so forward from the left-hand to the right every odd Column which hath the Month nam'd at the top thereof is the New Stile Account and every second or even Column which hath not the month writ at the top is the Old Stile Account as you may perceive because the Month begins just ten days after they are begun by the New Account And in both these Tables I have exactly counted day for day and set them side by side upon an equal and streit line from the left hand to the right from New Stile to Old Stile for every day in the year Leap-year containing 366 days and the ordinary year 365 days each Stile agreeing with the
Our Human actions ought especially to be considered in their ends Thus may we plainly see that when this weighty Business is duly considered in its end as all our Humane Actions ought well to be weighed it is found much contrary to that which most Men esteem thereof because they search no further than the beginning of the VVork which missinforms their Judgments and leads them into Error For if we behold the Actions of the Husbandman in the Seed-time when he casteth away much good Corn into the Ground we will rather account him a Madman than a Husbandman but when we consider his Labours in the Harvest which is the end of his Endeavours we find the VVorth and Plentiful Increase of his actions CHAP. V. Forein Trade is the only means to improve the Price of our Lands IT is a common saying That Plenty or Scarcity of Mony makes all things Dear or Good or Cheap and this Mony is either gotten or lost in Forein Trade by the over or underballancing of the same as I have already shewed It resteth now that I distinguish the seeming Plenties of Mony from that which is only substantial and able to perform the VVork For there are divers VVays and Means whereby to procure plenty of Mony into a Kingdom which do not Enrich but rather Empoverish the same by the several Inconveniencies which ever accompany such Alterations As first if we melt down our Plate into Coin which suits not with the Majesty of so great a Kingdom except in cases of great Extremity it would cause Plenty of Mony for a time yet should we be nothing the Richer but rather this Treasure being thus altered is made the more apt to be carried out of the Kingdom if we exceed our means by excess in Forein Wares or maintain a War by Sea or Land where we do not Feed and Cloath the Soldiers and supply the Armies with our own Native Provisions by which disorders our Treasure will soon be exhausted Again if we think to bring in store of Mony by suffering Forein Coins to pass current at higher rates than their intrinsick value compared with our Standard or by debasing or enhancing our own Monies all these have their several Inconveniences and Difficulties which hereafter I will declare but admitting that by this means plenty of Mony might be brought into the Realm yet should we be nothing the Richer neither can such Treasure so gotten long remain with us For if the Stranger or the English Merchants bring in this Mony it must be done upon a valuable Consideration either for Wares carried out already or after to be Exported which helps us nothing except the Evil occasions of excess or VVar afore-named be removed which do exhaust our Treasure for otherwise what one Man bringeth for Gain another Man shall be forced to carry out for necessity because there shall ever be a Necessity to ballance our Accounts with Strangers although it should be done with loss upon the rate of the Mony and Confiscation also if it be intercepted by the Law How we must get Treasure to make it our own The Conclusion of this Business is briefly thus That as the Treasure which is brought into the Realm by the Ballance of our Forein Trade is that Mony which only doth abide with us and by which we are enriched so by this Plenty of Mony thus gotten and no otherwise do our Lands improve For when the Merchant hath a good dispatch beyond the Seas for his Cloth and other VVares he doth presently return to buy up the greater Quantity which raiseth the Price of our VVools and other Commodities and consequently doth improve the Landlords Rents as the Leases expire daily And also by this means Mony being gained and brought more abundantly into the Kingdom it doth enable many Men to buy Lands which will make them the Dearer But if our Forein Trade come to a Stop or Declination by neglect at home or injuries abroad whereby the Merchants are impoverished and thereby the VVares of the Realm less issued then do all the said Benefits cease and our Lands fall of Price daily CHAP. VI. The Spanish Treasure cannot be kept from other Kingdoms by any Prohibition made in Spain ALL the Mines of Gold and Silver which are as yet discovered in the sundry Places of the World are not of so great Value as those of the West-Indies which are in the Possession of the King of Spain Who thereby is enabled not only to keep in Subjection many goodly States and Provinces in Italy and elsewhere which otherwise would soon fall from his Obeisance but also by a continual War taking his Advantages doth still enlarge his Dominions ambitiously aiming at a Monarchy by the Power of his Monies which are the very Sinews of his Strength that lies so far dispersed into so many Countries yet hereby united and his Wants supplied both for War and Peace in a plentiful manner from all the parts of Christendom which are therefore Partakers of his Treasure by a Necessity of Commerce wherein the Spanish Policy hath ever endeavoured to prevent all other Nations the most it could The Policy and Benefit of Spain by the Trade to the East-Indies For finding Spain to be poor and barren to supply itself and the West-Indies with those Varieties of Forein Wares whereof they stand in need they knew well that when their Native Commodities come short to this purpose their Monies must serve to make up the reckoning whereupon they found an incredible Advantage to add the Traffick of the East-Indies to the Treasure of the West For the last of these being employ'd in the first they stored themselves infinitely with rich Wares to barter with all the parts of Christendom for their Commodities and so furnishing their own Necessities prevented others for carrying away their Monies Which in Point of State they hold less dangerous to impart to the remote Indians than to their Neighbour Princes lest it should too much enable them to resist if not offend their Enemies And this Spanish Policy against others is the more remarkable being done likewise so much to their own Advantage for every Ryal of Eight which they sent to the East-Indies brought home so much Wares as saved them the disbursing of five Ryals of Eight here in Europe at least to their Neighbours especially in those times when that Trade was only in their hands but now this great Profit is failed and the Mischief removed by the English Dutch and others which partake in those East-India Trades as ample as the Spanish Subjects It is further to be considered that besides the Disability of the Spaniards by their Native Commodities to provide Forein Wares for their Necessities whereby they are forced to supply the want with Mony they have likewise that Canker of War which doth infinitely exhaust their Treasure and disperse it into Christendom even to their Enemies part by Reprisal but especially through a necessary Maintenance of
with good Profit the first Part whereof being made as we have supposed in Spain from thence I consider where to make my second Gain and finding that the Florentines send out a greater Value in Cloth of Gold and Silver wrought Silks and Rashes to Spain than they receive in Fleece VVools West-India Hides Sugar and Cochineal I know I cannot miss of my purpose by delivering my Mony for Florence where still upon the same Ground I direct my course from thence to Venice and there find that my next Benefit must be at Franckfort or Antwerp until at last I come to Amsterdam by a shorter or longer Course according to such occasions of advantage as the Times and Places shall afford me And thus we see still that the Profit and Loss upon the Exchange is guided and ruled by by the Over or Under-ballance of the several Trades which are Predominant and Active making the Price of Exchange high or low which is therefore Passive the contrary whereof is so often repeated by the said Malines To the Second Fourth Fourteenth and Twenty Third I say that all these are the proper VVorks of the meer Exchanger and that his Actions cannot work to the Good or Hurt of the Common wealth I have already sufficiently shewed in the last Chapter and therefore here I may spare that labour To the Third It is true I can deliver one Thousand Pounds here by Exchange to receive the Value in Spain where with this Spanish Mony I can buy and bring away so much Spanish Wares But all this doth not prove but that in the End the English Mony or Commodities must pay for the said Wares For if I deliver my Thousand Pounds here to an English-man he must pay me in Spain either by Goods already sent or to be sent thither or if I deliver it here to a Spaniard he takes it of me with intent to employ it in our Wares so that every way we must pay the Stranger for what we have from him Is there any Feats in all this worthy our admiration To the Fifth Thirteenth Twentieth and Twenty First I must answer these Wonders by heaps where I find them to be all one Matter in divers Forms and such froth also that every Idiot knows them and can say that he who hath credit can Contract Buy Sell and take up much Mony by Exchange which he may do as well also at Interest yet in these Courses they are not always gainers for sometimes they live by the Loss as well as they who have less credit To the Sixth and Seventh Here is more poor stuff for when I know the currant Price of my Wares both here and beyond the Seas I may easily conjecture whether the Profit of the Exchange of the Gain which I expect upon my Wares will be greater And again as every Merchant knows well what he gains upon the Wares he Buyeth and Selleth so may any other Man do the like that can tell how the said Merchant hath proceeded But what is all this to make us admire the Exchange To the Eighth and Twelfth As Bankers and Exchangers do furnish Men with Mony for their occasions so do they likewise who let out their Mony at Interest with the same hopes and like advantage which many times notwithstanding fails them as well as the Borrowers often labour for the Lender's Profit To the Ninth and Eighteenth Here my Author hath some secret Meaning or being conscious of his own Errors doth mark these two VVonders with a ☞ in the Margin For why should this great VVork of Enriching or Impoverishing of Kingdoms be attributed to the Exchange which is done only by those means that do Over or Under-ballance our Forein Trade as I have already so often shewed and as the very words of Malines himself in these two Places may intimate to a Judicious Reader To the Fifteenth and Sixteenth I confess that the Exchange may be used in turning Base Mony into Gold or Silver as when a Stranger may coin and bring over a great Quantity of Farthings which in short time he may disperse or convert into good Mony and then deliver the same here by Exchange to receive the Value in his own Country or he may do this Feat by carrying away the said good Mony in Specie without using the Exchange at all if he dare venture the Penalty of the Law The Spaniards know well who are the common Coiners of Christendom that dare venture to bring them store of Copper-mony of the Spanish Stamp and carry away the Value in good Ryals of Eight wherein notwithstanding all their cunning devices they are sometimes taken tardy To the Seventeenth The Bankers are always ready to receive such Sums of Mony as are put into their hands by Men of all Degrees who have no Skill or good Means themselves to manage the same upon the Exchange to Profit It is likewise true that the Bankers do repay all Men with their own and yet reserve good Gain to themselves which they do as well deserve for their ordinary Provision or Allowance as those Factors do which Buy or Sell for Merchants by Commission And is not this likewise both Just and very Common Lex Mercatoria pag. 410. Maintenance of Free Trade p. 17. To the Eleventh I must confess that here is a VVonder indeed that a poor Prince should keep either his VVars or VVares I take both together as the Author sets them down both ways differing in his said two Books upon Interest-Mony for what needs the Enemy of such a poor Prince deal with the Bankers to disapoint him or defeat him of his Mony in time of want when the Interest itself will do this fast enough and so I leave this poor Stuff To the Nineteenth I have lived long in Italy where the greatest Banks and Bankers of Christedom do trade yet could I never see nor hear that they did or were able to rule the Price of Exchange by Confederacy but still the Plenty or Scarcity of Mony in the course of Trade did always over-rule them and made the Exchanges to run at high or low Rates Exchange hinders not Princes of their Customs To the Twenty Second The Exchange by Bills between Merchant and Merchant in the course of Trade cannot hinder Princes of their Customs and Imposts For the Mony which one Man delivereth because he will not or hath not occasion to employ it in VVares another Man taketh because he either will or hath already laid it out in Merchandize But it is true that when the Wealth of a Kingdom consisteth much in ready Mony and that there is also good Means and Conveniency in such a Kingdom to Trade with the same into Forein Parts either by Sea or Land or by both these Ways if then this Trade be neglected the King shall be defeated of those Profits and if the Exchange be the Cause thereof then must we learn in what manner this is done for we may Exchange
said Mony which in this Discourse upon all occasions I think I have repeated near as often as Malines in his Books doth make the Exchange to be an essential Part of Trade to be Active Predominant Over-ruling the price of Wares and Monies Life Spirit and the Worker of Admirable Feats All which we have now briefly expounded and let no Man admire why he himself did not take this Pains for then he should not only have taken away the great Opinion which he laboured to maintain of the Exchange but also by a true Discovery of the right Operation thereof he should utterly have overthrown his Par pro Pari which Project if it had prevailed would have been a good Business for the Dutch and to the great Hurt of this Common-wealth as hath been sufficiently proved in the 12th Chapter Now therefore let the learned Lawyer fall chearfully to his Books again for the Merchant cannot put him down if he have no more skill than Admirable Feats when they may be so easily known and done in the Course of Trade Well then if by this Discovery we have eased the Lawyer 's Mind and taken off the Edg of his admiration let him now play his Part and take out a Writ of Error against the Par pro Pari for this Project hath misinformed many and put us to trouble to expound these Riddles Nay but stay a while can all this pass for currant to slight a Business thus which the Author saith hath been so seriously observed by that Famous Council and those worthy Merchants of Queen Elizabeth of Blessed Memory and also condemned by those French Kings Lewis IX Philip the Fair and Philip de Valois with Confiscation of the Banker's Goods I must confess that all this requires an Answer which in part is already done by the Author himself For he saith that the Wisdom of our State found out the Evil but they missed of the remedy and yet what Remedy this should be no Man can tell for there was none applied but all Practice and Use in Exchange stand still to this Day in such Manner and Form as they did at the time when these Feats were discovered for the State knew well that there needed no Remedy where there was no Disease Well then how shall we be able to answer the Proceedings of the French Kings who did absolutely condemn the Bankers and confiscated their Goods Yes well enough for the Bankers might perhaps be condemned for something done in their Exchanges against the Law and yet their profession may still be Lawful as it is in Italy and France itself to this day Nay we will grant likewise that the Banks were banished when the Bankers were punished yet all this proves nothing against Exchangers for Kings and States enact many Statutes and suddenly repeal them they do and undo Princes may err or else Malines is grosly mistaken Maintenance of Free Trade p. 76 77 78 79. where he setteth down 35 several Statutes and other Ordinances enacted by this State in 350 Years time to remedy the decay of Trade and yet all are found defective only his reformation of the Exchange or Par pro Pari is effectual if we would believe him but we know better and so we leave him I might here take occasion to say something against another project of the same Brood that lately attended upon the Success of this Par pro Pari as I have been credibly informed which is the Changing and Rechanging here within the Realm of all the Plate Bullion and Monies Forein or Sterling to pass only by an Office called The King 's Royal Exchanger or his Deputies paying them a Peny upon the Value of every Noble which might raise much to their private Good and destroy more to the publick Hurt For it would decay the King's Coinage deprive the Kingdom of much Treasure abridge the Subjects of their just Liberty and utterly overthrow the Worthy Trade of Goldsmiths all which being Plain and Easie to the weakest Understandings I will therefore omit to amplisie upon these Particulars CHAP. XV. Of some Excesses and Evils in the Common-wealth which notwithstanding decay not our Trade nor Treasure IT is not my Intent to Excuse or Extenuate any the least Excess or Evil in the Common-wealth but rather highly to Approve and Commend that which by others hath been Spoken and Written against such Abuses Yet in this Discourse of Treasure as I have already set down affirmatively which are the true Causes that may either Augment or Decrease the same So is it not impertinent to continue my negative Declarations of those Enormities and Actions which cannot work these Effects as some Men have supposed For in redress of this important Business if we mistake the Nature of the Malady we shall ever apply such Cures as will at least delay if not confound the Remedy Let us then begin with usury which if it might be turned into Charity and that they who are Rich would lend to the Poor freely it were a Work pleasing to Almighty God and profitable to the Common-wealth But taking it in the Degree it now stands how can we well say That as Vsury Increaseth so Trade Decreaseth For although it is true that some Men give over Trading and buy Lands or put out their Mony to Use when they are grown Rich or Old or for some other the like Occasions yet for all this it doth not follow that the Quantity of the Trade must lessen for this Course in the Rich giveth opportunity presently to the Younger and Poorer Merchants to rise in the World and to enlarge their Dealings to the Performance whereof if they want means of their own they may and do take it up at Interest So that our Mony lies not dead it is still Traded How many Merchants and Shopkeepers have begun with little or nothing of their own and yet are grown very Rich by Trading with other Mens Mony Do we not know that when Trading is Quick and Good many Men by means of their Experience and having credit to take up Mony at Interest do Trade for much more than they are worth of their own Stock by which Diligence of the Industrious the Affairs of the Common-wealth are Increased the Monies of Widows Orphans Lawyers Gentlemen and others are employed in the Course of Forein Trade which themselves have no skill to perform We find at this present that notwithstanding the Poverty we are fallen into by the Excesses and Losses of late times yet that many Men have much Mony in their Chests and know not how to dispose thereof because the Merchant will not take the same at Interest although at low Rates in regard there is a stop of Trade in Spain and in France whereby he cannot employ his own Means much less other Mens Monies So that for these and some other Reasons which might be alleged we might conclude contrary to those who affirm that Trade decreaseth as Usury increaseth for they rise
from the Majesty of a Prince but these dangerous Disorders are seldom seen especially in such States as are afore-named because the disposing of the Publick Treasure is in the Power and under the Discretion of many Neither is it unknown to all other Principalities and Governments that the end of such Excesses is ever ruinous for they cause great Want and Poverty which often drives them from all order to exorbitance and therefore it is common Policy amongst Princes to prevent such Mischiefs with great Care and Providence by doing nothing that may cause the Nobility to despair of their safety nor leaving any thing undone which may gain the good Will of the Commonalty to keep all in due Obedience But now before we end this Point in hand we must remember likewise that all Bodies are not of one and the same Constitution for that which is Physick to one Man is little better than Poyson to another Some States can not subsist but by the means of Heavy Taxes The States afore-written and divers others like to them cannot subsist by the help of those extraordinary Contributions whereof we have spoken because they are not able otherwise in short time to raise sufficient Treasure to defend themselves against a Potent Enemy who hath Power to invade them on the sudden as is already declared But a Mighty Prince whose Dominions are great and United his Subjects many and Loyal his Countries rich both by Nature and Traffick his Victuals and Warlike Provisions plentiful and ready his Situation easie to offend others and difficult to be Invaded his Harbors good his Navy strong his Alliance powerful and his ordinary Revenues sufficient Princes who have no just cause to say extraordinary and heavy Taxes upon their Subjects Royally to support the Majesty of his State besides a reasonable Sum which may be advanc'd to lay up yearly in Treasure for future Occasions shall not all these Blessings being well ordered enable a Prince against the sudden Invasion of any Mighty Enemy without imposing those Extraordinary and Heavy Taxes Shall not the Wealthy and Loyal Subjects of such a Great and Just Prince maintain his Honour and their own Liberties with Life and Goods always supplying the Treasure of their Sovereign until by a well-ordered War he may enforce a happy Peace Yes verily it cannot otherwise be expected And thus shall a mighty Prince be more powerful in preserving the Wealth and Love of his Subjects than by Treasuring up their Riches with unnecessary Taxes which cannot but alter and provoke them Yea but say some Men we may easily contradict all this by Example taken from some of the greatest Monarchs in Christendom who besides those Incomes which here are termed ordinary they add likewise all or the most of the other heavy Contributions All which we grant and more for they use also to sell their Offices and Places of Justice which is an act both base and wicked because it robbeth worthy Men of their Merits and betrayeth the Cause of the Innocent whereby God is displeased the People oppressed and Virtue banished from such unhappy Kingdoms Shall we then say that these things are lawful and necessary because they are used God forbid we know better and we are well assured that these Exactions are not taken for a necessary Defence of their own Right but through Pride and Covetousness to add Kingdom to Kingdom and so to usurp the right of others The finister ends which some great Princes have in laying heavy Taxes upon their Subjects Which Actions of Impiety are ever shadowed with some fair pretence of Sanctity as being done for the Catholick Cause the Propagation of the Church the Suppression of Hereticks and such like Delusions serving only to further their own Ambition whereof in this Place it shall be needless to make any larger Discourse CHAP. XVII Whether it be necessary for Great Princes to lay up Store of Treasure BEfore we set down the Quantity of Treasure which Princes may conveniently lay up yearly without hurting the Common-Wealth it will be fit to examin whether the Act itself of Treasuring be necessary For in common conference we ever find some Men who do so much dote or hope upon the Liberality of Princes that they term it Baseness and conceive it needless for them to lay up store of Treasure accounting the Honour and Safety of great Princes to consist more in their Bounty than in their Mony which they labour to confirm by the Examples of Caesar Alexander and others who hating Covetousness atchieved many Acts and Victories by lavish Gifts and liberal Expences Unto which they add also the little Fruit which came by that great Sum of Mony which King David laid up and left to his Son Solomon who notwithstanding this and all his other rich Presents and wealthy Traffick in a quiet Reign consumed all with Pomp and vain Delights excepting only that which was spent in Building of the Temple Whereupon say they if so much Treasure gathered by so just a King effect so little what shall we hope for by the Endeavours of this kind in other Princes Sardanapalus left Ten Millions of Pounds to them that flew him Darius left Twenty Millions of Pounds to Alexander that took him Nero being left rich and extorting much from his best Subjects gave away above Twelve Millions of Pounds to his base Flatterers and such unworthy Persons which caused Galba after him to revoke those Gifts A Prince who hath store of Mony hates Peace despiseth the Friendship of his Neighbours and Allies enters not only into unnecessary but also into dangerous Wars to ruin and overthrow sometimes of his own Estate All which with divers other weak Arguments of this kind which for brevity I omit make nothing against the Lawful Gathering and Massing up of Treasure by wise and provident Princes if they be rightly understood For first concerning those worthies who have obtained to the highest top of Honour and Dignity by their great Gifts and Expences who knows not that this hath been done rather upon the Spoils of their Enemies than out of their own Coffers which is indeed a Bounty that causeth neither Loss nor Peril Whereas on the contrary those Princes which do not providently lay up Treasure or do immoderately consume the same when they have it will suddenly come to Want and Misery Excess and Bounty brings Beggary which makes most Men devise in their heads how to extort and get Mony into their hands for there is nothing doth so soon decayas Excessive Bounty in using whereof they want the means to use it And this was King Solomon's Case notwithstanding his infinite Treasure which made him over-burthen his Subjects in such a manner that for this Cause many of them rebelled against his Son Rehoboam who thereby lost a great Part of his Dominions being so grosly misled by his young Counsellors Therefore a Prince that will not oppress his People and yet be able to
it doth also make our other Trades much greater than they were for in this manner the Ten Thousand Bags of Pepper which this Year we have brought hither from the East-Indies should be valued at very near Two Hundred and Fifty Thousand Pounds whereas all this Pepper in the Kindom's Accompt cost not above Fifty Thousand Pounds because the Indians have had no more of us although we paid them extraordinary dear prices for the same All the other Charges as I have said before is but a Change of effects amongst our selves and from the Subject to the King which cannot impoverish the Common-wealth But it is true That whereas Nine Thousand Bags of the said Pepper are already Shipp'd out for divers Forein Parts These and all other Wares Forein or Domestick which are thus transported Outwards ought to be cast up by the Rates of His Majesty's Custom-mony Multiplyed by Twenty or rather by Twenty Five as I conceive which will come nearer the Reckoning when we consider all our Trades to bring them into a Medium 3 ly We must remember that all Wares Exported or Imported by Strangers in their Shipping be esteem'd by themselves for what they carry out the Kingdom hath only the first Cost and Custom And what they bring in we must rate it as it is worth here the Custom Impost and petty Charges only deducted Lastly There must be good notice taken of all the great Losses which we receive at Sea in our Shipping either Outward or Homeward bound For the Value of the one is to be deducted from our Exportations and the Value of the other is to be added to our Importations for to Lose and to consume doth produce one and the same Reckoning Likewise If it happen that His Majesty doth make over any great Sums of Mony by Exchange to maintain a Forein War where we do not Feed and Cloath the Soldiers and provide the Armies we must deduct all this Charge out of our Exportations or add it to our Importations for this Expence doth either carry out or hinder the coming in of so much Treasure And here we must remember the great Collections of Mony which are supposed to be made throughout the Realm yearly from our Recusants by Priests and Jesuits who secretly convey the sâ—me unto their Colleges Cloysters and Nunneries beyond the Seas from whence it never returns to us again in any kind Two Contraries which are both pernicious therefore if this Mischief cannot be prevented yet it must be esteem'd and set down as a clear Loss to the Kingdom except to Ballance this we will imagine that as great a Value may perhaps come in from Forein Princes to their Pensioners here for Favours or Intelligence which some States account good Policy to purchase with great Liberality the Receipt whereof notwithstanding is plain Treachery There are â—et some other petty things which seem to have reference to this Ballance of which the said Officers of His Majesty's Customs can take no notice to bring them into the Accompt As namely the Expences of Travellers the Gifts to Ambassadors and Strangers the Fraud of some Rich Goods not entred into the Custom-House the Gain which is made here by Strangers by Change and Re-change Interest of Mony Insurance upon Englishmens Goods and their Lives Which can be little when the Charges of their living here is deducted besides that the very like Advantages are as amply ministred unto the English in Forein Countries which doth counterpoize all these things and therefore they are not considerable in the drawing up of the said Ballance CHAP. XXI The Conclusion upon all that hath been said concerning the Exportation or Importation of Treasure THE Sum of all that hath been spoken concerning the Enriching of the Kingdom and the Increase of our Treasure by Commerce with Strangers is briefly thus That it is a certain Rule in our Forein Trade in those Places where our Commodities exported are over-ballanced in value by Forein Wares brought into this Realm there our Mony is under-valued in Exchange and where the contrary of this is performed there our Mony is over-valued in Exchange and where the contrary of this is performed there our Mony is over-valued But let the Merchant's Exchange be at a high Rate or at a low Rate or at the Par pro Pari or put down altogether Let Forein Princes enhance their Coins or debase their Standards and let His Majesty do the like or keep them constant as they now stand Let Forein Coins pass current here in all Payments at higher Rates than they are worth at the Mint Let the Statute for Employments by Strangers stand in force or be repealed Let the meer Exchanger do his worth Let Princes Oppress Lawyers Extort Userers Bite Prodigals Wast and lastly Let Merchants carry out what Mony they shall have occasion to use in Traffick Yet all these Actions can work no other Effects in the course of Trade than is declared in this Discourse For so much Treasure only will be brought in or carried out of a Common-wealth as the Forein Trade doth Over or Under-ballance in value And this must come to pass by a Necessity beyound all resistance So that all other Courses which tend not to this End howsoever they may seem to force Mony into a Kingdom for a time yet are they in the End not only fruitless but also hurtful They are like to Violent Floods which bear down their Banks and suddenly remain dry again for want of Waters Behold then the true Form and Worth of Forein Trade which is The great Revenue of the King The Honour of the Kingdom The Noble Profession of the Merchant The School of our Arts The Supply of our Wants The Employment of our Poor The Improvement of our Lands The Nursery of our Mariners The Walls of the Kingdoms The Means of our Treasure The Sinews of our Wars The Terror of out Enemies For all which great and weighty Reasons do so many well governed States highly countenance the Profession and carefully cherish the Action not only with Policy to Increase it but also with Power to protect it from all Forein Injuries Because they know it is a Principle in Reason of State To Maintain and Defend that which doth Support them and their Estates FINIS These Books following are Sold by Tho. Horne at the South Entrance of the Royal-Exchange LONDON HVdibrass Compleat in 3. parts the Author Samuel Butler 8 vo Lex Mercatoria Compleat with all the Books of Merchants Accompts fol. Boyer's French Dictionary 4 to Idem in 8 vo Toriano's Italian Dictionary fol. Oldham's Poems compleat 8 vo The Perfect method of Merchants Accompts by John Collins fol. Plutarch's Lives in 5 Vol 8 vo by several Hands Morals in 5 Vol. 8 vo Grand Cyrus in 10. Vol. a Romance 12 o. Arch-Bishop Tillotson's Works fol. Pools Annotations on the Bible 2 Vol. fol. The Works of Sr. William Davenant fol. Dampiers Travels in 2 Vol. 8 vo Letters written by a Turkish Spy in 8 Vol. 12 o. Charon of VVisdom in 2 Vol. 8 vo Bp. Burnet's History of Reformation 2 Vol. fol. Exposition on the 39 Articles fol. Anatomy of an Horse fol. Sr. John Chardin's Travels into Persia fol. History of the Kingdom of Syam fol. Coles Dictionary English and Latine 8 vo Cambden's Britannia fol. 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