THE " Negotiator s Magazine : O R, The moft authentick Account yet published OF THE Monies., Weights, and Measures o F The Principal Places of Trade in the World. ALSO An Account of the European Exchanges in general; the Cuftoms of Merchants relating thereto; and Rules and Examples to caft them up by ; with the Nature and Ufe of Simple and Compound Arbitra- tions; and an History of the Englijh Gold and Silver Coins^ for near 500 Years paft\ To which are added, Curious Calculations of great Ufe in the Weft- India, Carolina^ and New-England Trades; and Ta«bles, fliewing the intrinfick Value of any Foreign Gold, or Silver Coin. All of great Ufe to Merchants and Traders ; and entirely neceiTary to thofe who would underftand Mer- chants Accompts. The Seventh Edition, with many Alterations, and great Additions. By RICHARD HATES, Teacher of Mer- chants Accompts wi%reof Princes-ftreet near'th^Bank of England, now pf-^ee^-Jlr^;pe^'i&eapfide. >j i — (L — 11 — rrf — e Printed for John N ' o^^^&^iHrmte Hart, near Mercers Chapel in Cheapfide. MDCCXL. ' 13869 <0C'^~J* T O Sir JOSEPH HANKER Knight and Alderman OF THE City of LONDON, SIR, HO' I never had the Happinefs of being fami- liarly acquainted with the venerable Knight, your Father j yet my Neighbourhood to him, A % and i d£ DitAtro N. and the Honour of inftrucfino; you in Penmanfhip and Accompts, fometimes procured me a Conver- sion with Him : And even in that Intercourfe I difcovercd fome Part of that Great and Amiable Character bv which He was cliltin- guilhed. — A Character, which (tho' his Modefty would have felt as much Pain to have feen it delineated, as his Goodnefs did Pleafure to deferve it) give mc leave to fay, Juftice and Grati- tude muft not only take the Li- berty of thinking worthy of Praife, but alfo of publickly paying it to his Memory. H e was fteady and fincere in his Friendmips, and felcct in the Choice of them. He was poilcfs'd of DEDICATION. of the moft ufeful Knowledge, and willing to communicate it in can- ZD did Advice to all He knew, when any Emergency required it. He was a tender Hufband, a careful affectionate Father, an indulgent Mafter, and a Lover of Mankind in general. This Spirit of univerfal Be- nevolence was feen in Charity to Diftrefs, Condefcenfion and Libe- rality to Merit in Obfcurity ; and in as great a Readinefs to forward the laft with His Intereft, as to fupply it with His Bounty. The Love that He gained from all who knew Him could be only equalled by the Grief they felt for the Lofs of Him. They A 3 would DEDICATION. would have been inconfolable, had they not found His excellent Vir- tues revived in a S o n, who de- fervedly fucceeds Him in his Ho- nour and Eftate 5 I fay, fucceeds Hirriy whofe Memory will be ever revered by them in general, and in particular by SIR, Tour mojl obedient, and devoted Servant, Richard Hayes. PREFACE. T the good Succefs which this Book met in the World whilft it treated only of Monies and Exchanges, and at the Kequeji of feveral of my Friends, I was induced to fpend fome more of my leifure Hours to write this fourth Edition over again, in order to introduce the Weights and Meafures ; and fo to make it fill become more ufeful to all Perfons any ways concerned in Trade. In doing this, I have neither fpared any Pains or Time to make the Book as compleat as may be ; and I declare, a* mong the numerous Volumes that have pa (fed through my Hands upon this Sub- ject, I have not met with one that con- tains fo many ufeful Things (fome of which are of great Importance in Trade ) as are to be found in this Magazine, and no othcr< The whole being the Rejult of A 4 above PREFACE. above twenty Tears Practice in teaching thefe Things, north the ^JJijlance of fede- ral curious Merchants * and nozo 'tis of- fered to the Publick by From my Houfe in <$ntmfattt% near Cheapfide; but late of Princes flreet, near the Bank of England. R. Hayes. The Reader is defired to take notice, in the following Pages, 1. That the Buyer, who firfl: purchafes the Bill of the Drawer, is lbmetimcs called the Deliverer, fometimcs the Taker, fometimes the Remitter, and at other times the Negotiator. 2. The Perfon the Bill is drawn upon to pay the lame, he it is that is called the Accept ant. 3. The Perlbn the Bill is lent to, to get accept- ed, is called the PoJJijjor. THE CONTENTS. CHAP. 1.0/ Bills of Exchange. Sect. i . E WS what ought to be done by every Party concerned in a Bill of Exchange ; in cafe that any concerned therein fhouldfail Page i 2. Shews what the Drawer and Remitter jhould obferve before the cne delivers ; or the other takes ; the Bill 1 9 3. Of Brokers, and their Duty 29 4. Of the Remitters payiyg the Value to the Drawer — 33 5. Of Negotiating , Drawing in, and Endorfing Bills, that are made payable to Order 35 6. Of demanding Acceptance 39 7. Shewing what the Poffejfor of a Bill prot eft ed for Non- Acceptance , and is not accepted fupra Prot eft, toge- ther with what the Drazver and Endorfer are obliged to do — : 49 8. Of the Time of 'paying Bills 54 9. OfXJfurers Exchange, &c. — i 68 10. Of Conditional Exchanges on Bottomry 7 1 11. Of paying Debts with Bills of Exchange 78 12. Of Re-Exchange, and Continuance of Exchange and Re-Exchange 8r 13. Of Bills being drawn on one Place, and made payable in another - ■ — Sy 14. Of Bills drawn on one Place, over or through another and of Exchanges in Commiffion in general 92 15. Of 'Drawing Bills in Commiffton = ,98 16. Of being drawn upon in Commiffion 103 17. Of being remitted to in Commiffion 108 18. Of remitting in Commiffton^ and being Surety — 1 1 1 i5. Of The CONTENTS. i Exchanges 251 C H A P. VIII. Of Antwerp. \. Of their Weights and Meafures 254 2. Of the Par of the Monies of Antwerp 256 3. Of the Conrfes 0/ Antwerp Exchanges 257 4. Examples of Antwerp Exchanges — 258 C H A P. IX. Of Amfterdam and all Holland. 1 . 'The current Monies of Holland 259 2. Of the Weights of Holland 261 3. Shewing the Conformity of the Dutch Weights with thofe of other Countries 262 4. Their Weights for Gold and Silver — — 264 5. Their Meafures for Linin and Woollen Goods, and the Conformity of the fame with thofe of other Coun- tries 265 6. Of their Wine Meafures -| > 266 7. Of their Meafures for Brandy ibid. 8. Of Salt . . 267 9. Of their Meafures for Grain ibid. 1 o. *Of Oy Is and Honey 271 1 1 . Of the Bank, of Amfterdam 272 12. Of Bills, and how paid in Amfterdam 274 13. Of the Ufances clferved in Holland 276 14. Of the Courfe of Amfterdam Exchange — 277 15. Of the Par of the Dutch Monies — 280 16. Examples of the Dutch Exchanges — — ibid. 1 7. 4n Example of a Sale of Gold 285 if; Shewing the Advantages to be made upon tlx fifing and f tiling of the Courfe of Exchange 289 19. Of Simple Arbitrations ■ 29 5 2u Of Qompotfnd Arl-i. 'rations 294 C H A P. X. Of Germany and Switzerland. 1. The Monies, V/ eights and Meafures of Geneva. 295 2. Ditto of St. Gall 29*7 3. Ditto /i Siam 4 1 7O5 4 1 8 5. China 418 6. Japan j.19 CHAP. XXIX. Of Africa. 1. Or" Alexandria, Cairo, and all Egypt 419 2. 0 "Barca, Tripoly, Barbary, Tunis, &c. — 421 3. Of Algier — 1 — 422 4. C ■ 423 -. Of Una ibid. 6. Of Sillce 424 7. Or Fezz ^?zi Morocco — — — — ibid. 8. Or Gambia, Gainea, fee ibid. CHAP. XXX. Smfk Arbitrations, or of Orders and Czmmiffions 4.26 C H A P. XXXI. Of Compound Arbitrations — 430 C H AR XXXII. An Htjlory cf the Engiiih Gold and Silver Coin; a.44 T II E Negotiators Magazine. c H A P. I. Of Bills ^Exchange. The Cuftoms or Laws of Bills of Exchange exhibited in the Way of Advice, ac- cording to the Opinion of the moft ex- perienced in the Cuftoms, and Learned in the . Laws of the European Ex- changes. Sect. I. Stews what ought to be dene by every Party concerned in a Bill of Exchange, in Cafe that a?iy one concerned therein Jbould fail, HEN a Remitter fails before he pays the Value, and the Bill is drawn in by him, or is indorfed, and fent away, and is accepted, the Accepter is obliged to pay the fame at the time when due, altho' the Drawer has not received the Value,* But in regard that a knavifh B Remitter, a Haxe&V Negotiator's Magazine Remitter, and a cunning PofTelTor, underftanding one another's Defigns, may in this manner com- mit great Frauds, it is neccfiary that the PoiTeflbr mould be obliged to prove, that he or his Corres- pondents has effectually paid the Value, or that the fame was remitted to him for a true and juft Debt, which was due to him from the Remitter ; therefore, to prevent Frauds that may be attempted to be committed in this Way, it is not advifeable the Drawer to deliver out more than one (ingle Bill before he has received the Money. 2. If an Acceptor fails, or refuies to pay, or be- comes iniblvent, after he has accepted a Bill, altho' the Drawer has not received the Value, the Drawer is obliged to pay the Bill, with Re-exchange, Pro- viiion, and Charges to the PoiTeffor. 3. When a Drawer hath drawn for his own Account, and to prevent the Lofs by Re-change, he does remit the Value to his Correfpondcnt, to difcharge his Bill, or hath ordered his Acceptor to re- value upon him, whole Re-draughts he hath accepted, and the Acceptor for all this, initead or" his paying the Bills, runs away with his Monies, Or becomes iniblvent, and cannot pay, lb that the Bill is returned with Proteft ; yet, notwithstanding this, the Drawer is obliged to pay the Re-exchange and Charges, and tofupply twice the Value of that Bill, whereof lie may not have received any Value at all. 4. When a Remitter fails before he pays*the Value, and the Accepiant gets Notice before he accepts, and therefore refutes to accept, lb that the Bill returns with Proterr, yet the Drawer is obliged to pay the Re-exchange, if the Poffeflbr can prove 0/ Money \ fPiig hts\ Me a Jure &c. g that he negotiated the faid Bill, and paid the Value for it ; but if the Bill be made directly payable /to any Perfon, and the Remitter fends him the Bill, in Payment of what he was indebted to the Perfon it was fent to, then it is a great Queflion whether the Drawer is obliged or not, if he hath received no Value, nor the PolTeffor any other ways hath made the lame good. 5. And though the Drawer, in fech a Cafe, muft pay more than the Remitter is indebted to him for the Value, [viz. the Re-exchange and Charges) yet the laid Remitter is Debtor for no more than the bare Value, nor can any more be de- manded of him. 6. When a Drawer for another's Account re- ceives not the V alue, then the Lofs comes charged on the Account of him for whofe Account it was drawn, unlefs the Drawer flood Surety, feeing his being Surety hath refpect to the Remittances, and the whole Negotiation, or unlefs the Drawer gave the Remitter fome Time for the Payment of the Value, and did not advife his Principal thereof, or unlefs the Drawer had neglected to demand the Money in due and ordinary Time, or elfe, if at the Time of drawing, the Remitter was known to be an infolvent and declining Man 5 in any of thefe Cafes, whether the Drawer had any Profit or riot, the Lofs will fall upon his own x^ccount, becaufe he credited the Remitter. 7. When a Drawer fails before the Value be re- ceived^ if the Remitter hath the Bills in his own Hands, he may reftore them to the Creditors or * Truftees of the Drawer's Effects ; and if either of them fliall refufe to take the fome, and think that B 2 he 4 Hayes'j Nepociators Magazine 1 O O he is obliged to perform his Contract, and to pay the Value, he mult demand Acceptance and Pay- ment of the Bills, the Remitter being obliged to endeavour the fame j but it is with this Provifo, that thofe Creditors or Truftees who urge him thereto, (ball give him fufficient Security for the Re-exchange and Charges, in cafe he negociate the fame, and it Ihould be returned with Profceft. And this they mutt do before they can oblige the Re- mitter to pay the Value of the Bill to any of them. 8. If the Remitter hath conditioned for ^ny Time for the Payment of the Value, or if he can- not pay the Value in due Time, (as in jlmfterdam^ the Bank being fhut up) but in the mean TihieJ at the Requeft of ihe Drawer, he accepts of an Affign* ment payable to a third Perfon, at the Expiration of the Time agreed upon, or after the Opening of Bank ; whether this Acceptance be verbal or writ- ten, the Remitter is thereby obliged to pay the Va- lue to the laid third Perfon, at the due Time, though the Drawer in the inteiim Ihould fail. (). If the Remitter or Poifelfor has been negli- gent in demanding Acceptance, and the Drawer in the mean Time feUsj bar the Acceptant knows no- thing thereof, before Acceptance is demanded, and he accepts the fame, this Acceptance obligeth him to the Payment, though procured alter the Drawer is failed, as well as in refpect of his being the Ac- ceptant himfelf, or any other, for whole Account the Bill was drawn. jo. If the Remitter or Pofleflbr had neglc&cd to demand the Acceptance before the Drawer failed, then the Acceptant cannot be compelled to accept the Of Money y Weights y Meafuresy &c. 5 •the Draught (though the Acceptant hath wrote to the Drawer that he would accept the lame) and he confefs he mould have done it, if the feme had been demanded before he had Knowledge of the Drawer's failing. 1 1 . When any Perfons have Bills fent to them to demand Acceptance, and to keep them by them, or to return them to the Remitter, or to any other that he the Remitter mall order, if, by Negligence, or Forgetfulneis, the faid Perfons de- lay to demand Acceptance, or if they fuffer the Acceptant to delay Acceptance, and the Drawer in the Interim mould fail, and the Acceptant from this mould abfolutely refufe Acceptance, fuch Per- fons deferve fmall Thanks from the Owner of a Bill, but they are not obliged to make good the Value : But, on the contrary, if a Bill is fent to a Per fon, and he is urged to procure Acceptance and Payment, if he defers and delays procuring the fame, and the Acceptor being ignorant of the Cir- cumitances of the Drawer, declared that he would have accepted it, if it had been timely demanded, the Party thus neglecting, is obliged to make good the Lofs that has been occafioned by his Negli- gence to his Correlpondent. 12. When a Bill is drawn, and indorfed by feveral Perfons, before the fame is accepted, and afterwards the Acceptance fhculd be refufed, on account of the Drawer's failing ; in fuch Cafe the Lofs falls upon the firft Endorfer, becaufe he mould have had the Acceptance in Time, and muft blame himfelf, for having no better Security than a broken* Drawer to rely on, for Recovery of his Monies. B 3 13, When 6 HayesV Nefrociaterj Mavazini 13. When an Acceptant hears that the Drawer is failed before Acceptance is demanded, he need not accept any of the laid Drawer's Bills (al- though lie may through Ignorance of the Drawer's Circumilances have promifed to honour fuch .Bills) without having fufficieiJt Security to be dis- charged from all and every one that (hall make any Pretence or Demand thereof, whether ic be the Drawer, his Creditors, Truftces, or his Prin- cipal, for whole Account it is drawn, GV. 14. Nor may the Acceptant accept any Bills from the info-vent Drawer, though the Bill bear Date before his Failure, and the Letter of Advice the lame Date, whether it comes by the ordinary Pod: or not ; for there is a great Sufpicion that there is fome underhand fraudulent Dealings, and that the Bill and the Letter arc truly antedated. 15. If any be drawn upon, on the Account of a third Perfon, and he, before he accepts, has Ad- vice that the Drawer is failed, he ought not accept the fame, tho' he has promifed the Drawer he would, becaufc his Acceptance mav turn out to his Prejudice ; and if he has not Erfects in his Hands, the Piincipal, for whole Account 'tis drawn, will lcruple, ashe jufdy may, the making the Value good, and it will be at lead a Damage and Prejudice to the Principal, if lie hath not the EHefts in his Hands to anfwer thole Bills. 1 6. EfpecteUy he ought not to 'accept any Bills pi a Drawer's that 19 failed, if the Perfbfl for whole Account the fime is drawn advifes him of his Failure, or on Sufpicion hath forbidden him to ac- cept anv df the laid Drawer's Bills fof h: Account, although Of Money, JVelghts, Meafures, &c. 7 although he hath ordered the Acceptance thereof before. 17. When the Drawer fails, the Acceptor is not obliged to give better Security for the Pay- ment, but the Poffeffor muft wait till the Day the Payment falls due, before he can demand any Thing of the Acceptor, and then the Acceptor is obliged to pay, tho' he accepted for the Drawer's Account, and has no Effedts of the Drawer's in his Hands. 18. If the Acceptor denies Payment of a Bill, the Drawer being failed, the Poffeffor is not obliged to return the Bill and Proteft, to the Place from whence it is drawn, becaufe it is apparent, that the Re-exchanges and Charges cannot be re- covered from the Drawer, but he muft inftantly, without Delay, after the Proteft is made, proceed againft him by Attachments, &c. for it is one Thing when a Drawer is a good Man, and another when he is failed. 19. When an Acceptor fails or abfents him- felf, the Poffeffor is then obliged, asfoon as he gets Notice thereof, (if true) to get Proteft made by a publick Notary, in due Time, and to fend the fame, with the Bill, to the Remitter, to procure Satisfaction from the Drawer; and Advice ought'to be given directly to the fir ft Remitter, and not to the laft Indorfer only, that the Drawer may, if he pleafes, order another to honour his Bill, and pre- vent the Lofs by the Re-exchange, &c. 20. Though a Poffeffor through Negligence or Ignorance of the Cuftom, or of the Acceptant's fail- ing, or elfe becaufe the Bill may not come to Hand till after it is due, or for any other Caufe, he B 4 d oes 8 Ha ye s\r Negociators Magazine does not, or cannot make proteft by a Publick Notary, nor does not fend it away, neither before nor after it is due, till probably on the laft Refpite Day ; yet this Negligence or Ignorance doth not hinder the Pofleflor's redrerTing himfelf on the Drawer and Endorfor, though the Acceptor failed before the Bill became due. 21. When an Acceptor fails before the Day of Payment, if the Bill be made payable to Order, as foon as the PolTeftor can get proteft to be made, he muft fend the fame to the firft Remitter, and muft keep the Bill till it foils due, that in Cafe the Drav/er orders any other to honour his Bill in Time, the Foffeffor may be ready to receive the Value. 22. If any other offer to accept and honour a Bill whofe firft Acceptor is tailed, in favour of the Drawer or any other Endorfor j the Poffeftor is not obliged to accept of fuch an Offer, if he thinks the Offerer is not a fufficient Man ; but if he is fufficient, or will give fufficient Security, the Poffeffor cannot refufe fuch an Offer. 23. It is not iafe to accept a Bill, whofe firft Acceptor is foiled, without a Proteft for Non- payment, declaring the bad Circumffances of the Acceptor, and fuch an Acceptavit (in Honour) muft prefently fend the faid Proteft, together with the Notary's Atteftation of his accepting the lame in Honour, to the Drawer, or to him for whole Account he has accepted the fame. 24. Though it be certainly known, and the Drawer himfelf docs confefs, that the Acceptor of his Bill was (ailed, yet lie is not obliged to give any Caution, Security or Satisfaction to the Remitter 'til! Of Money, freights, Meafures, &c. 9 7 till the Proteft be produced ; but if the Remittor or Poffeflbr have the Bills returned without Pro- teft, or the Proteft without the Bills, or both the Proteft and the Bills, and (hews them to the Drawer, then he is obliged inftantly to give Satis- faction or Security for Re-exchange and Charges. 25. Yet let no wife Drawer make Reftitution of the Value he received, or of the Re-exchange and Charges upon producing of the Proteft for the Acceptor's Infoivency ; but upon the producing thereof, being required thereto, let him give Secu- rity for the Payment thereof at the Place where it is payable, if there be Time enough, or for the Re-exchange, when the accepted Bill (by the in- folvent Acceptor) be produced; which Bill, if it be not produced, he need not reftore, nor repay any thing but upon furficient Security to deliver the Bill, and to difcharge him from all future De- mands ; and to make Reftitution thereof with In- tereif, in cafe the faid Bill be paid to any Perfon, (fupra proteft) but if there is not Time enough to order the Payment of the Bill at the Place where it was payable, then let the Drawer give Security to pay it to the Remitter in the Place where it was drawn, when the Time of the Bill fhall be expired. 26. A Drawer or Endorfer is obliged to the Pofleflbr of a Bill protefted for an Acceptor's In- foivency, as much as if the Bill was protefted for Non-acceptance. 27. When the Drawer at the Requeft of the Remitter hath made his Bill payable to Order, and that Bill is afterwards endorfed and drawn in from feveral Places, -and fhould (in cafe the Acceptor fails) i o Ha y esIt Negotiator j Magazine fails) be returned the lame way they came, then the Drawer may tell the Remitter, to whom he may addrefs himfelf for the Payment at the Dav, and give him fufficient Security for the Payment ; Which if he does, he is no farther obliged to any, nor for more than Poftage and Proteil, and the Remitter muft accept hereof, and accordingly or- der his Correfpondent to make his Addrefs to fuch a Perfon, but the Drawer mull: order his Friend not to pay any Monies but upon Receipt of, or Security for the Delivery of the protefted Bill with the Proteft. 28. When a Perfon is drawn upon, and re- mitted to in Bills payable to himfelf, and hath ad- vifed that he has accepted the Draught, if the Acceptor and Poffeifor of the Bill fliould fail be- fore the Bill fills due, then the Lois falls upon the Drawer, or upon him for whofe Account the fame was drawn, and he is obliged to make good the Re-exchange and Charges, though it be not protefted in due Form and Courfe ; but if he fails on the Day of Payment, or after, then the Bill is looked upon as paid, and the Lois falls upon him for whofe Account it was drawn, though it ihould be protefted in due Form within the Days of Re- fpitc. 29. When a Bill is drawn on the Account of a third Party, and the Bill is accordingly ac- cepted for his Account ; if this third Party fails without making Provifion to discharge the laid accepted Draught, die Acceptor is obliged to pay the Bill, nor lias he any Redreis on the Drawer. 30. If Of Money, JVaghts, Meaftires\ &c. 1 1 30. If a Bill is drawn by the Order, and for the Account of a third Perfon, and is accepted by the Acceptant, if the faid Acceptor fails the Drawer muft make good the Re-exchange and Charges , but the Drawer hath Redrefs on him for whom the faid Bill was drawn, and he may charge his Account therewith, though the faid Party hath already made Provifion good to the Acceptor, or hath accepted his Acceptor's Bills for the Value -y and rf both the i\cceptor and the Party, upon whofe Account the Bill was drawn, mould both fail, the Bill being accepted, the Drawer may come on them both for Satisfaction. 3 1 . When a Bill is drawn and accepted for the Account of a third Perfon, if the Acceptor fails before he receives fumcient Provifion for the Difcharge of the Bill, of the Party for whofe Ac- count it was drawn, and if the Drawer mould alio fail, the Party for whofe Account it was drawn need not fuffer himfelf to be perfwaded to pay the Bill, and to take it into his own Hands, becaufe it was drawn upon his Account, unlefs the PoffefTor of the Bill will give him fufricient Secu- rity to fave him harmlefs both from the Drawer and Acceptor, and their Creditors, &c. 32. If before Provifion be made to difcharge a Draught the Acceptor and Drawer both fails, in this Cafe the Party (for whofe Account it was drawn) need not difcharge the Bill, nor pay the Value to the Acceptor, or his Creditors, &c. unlefs it doth appear to him that the Poffeffor is fatisfy'd by the Acceptor, or by fome body elfe for his Ac- count ; and he doth relinquifh all Pretences to both the Acceptor's and Drawer's Effedts, or unlefs. he i2 Ha ye s V Negociators Mi %gak>int he be fufficiently fecured from all Damages that may accrue upon Account of the (aid Draught and Remittance. 33. When the Drawer of a Bill, payable to his own Order, fails ; and to defraud his Creditors he endorfeth the Bill to another, who negociates the fame, and effectually receives the Value j and this Party doth endorfe it again to a third Perfon, &c. yet though the Creditors mould oppofe it, they difcovering the Fraud, the Acceptor mult pay it to the Party that comes to receive it, if the faid Party can prove he paid the real Value thereof. But if the PoffclTor had made it payable to any other directly, and can fwear or prove how and when he paid the Value, and that it was done be- fore he knew of the Drawer's railing, he may be probably allowed Provifion ; and can prove that the lame Bill, without Colour or Fraud, was deli- vered to him ; and if the Creditors oppofe him, he is obliged to do thus much before he can get the principal ; or, if he Iras received it, Ire mult be obliged to refund the lame for the Ufe of the Cre- ditors in common, and mull alfo be obliged to draw in, and endoi le the Bill that he received from the infolvent PolTedor with Intent to defraud them. 34. When a Bill is made payable, or endorfed rayable to any Poifeflor, who unknown to the Acceptor is become Inlolvcnt before the Day of Payment, if he mnkes Payment of the fime, not knowing of the Podeffor's tailing, fuch Payment i^ good and valid ; but it' he pay to any other upon the faid Pofleflbr's Order, and knows of the Poflef- (br's failing, lie does very unwitelv, and runs the b • i-.d of paying it twice, ?r, When Of Mo;/eyy Weights. Meaforti, &c. 1 3 jtf. When a Poffeilbr of a Bill fails, and the Acceptant can demonflrate and prove that the Bill was remitted for the PolTeiTor's Account, or upon the Account of what the Remitter, or any for whole Account it was remitted, was indebted to the PoiTeiTor, and therefore he only is the true Owner and Principal of the Bill, then the Ac- tor may pay it to him, and he mull credit the Perfcn for whofe x\ccount it is for the Value ; but if the Bill be for the Account of a third, or for the Drawer's Account, and neither of them have received a valuable Confederation from the Poiieiibr of it, in fuch Cafe it ought not to be paid to him. in regard the failed Potfefibr is not the true Owner of the Bill, but is only the true Demander of Sa- tisfaction, and the Acceptor ihould be obliged at the Day to pay the fame to the next Order of the Remitter's, or to the true Owner of the Bill, for whofe Account it i:-. 36. If a fufpecled PolTeiior of a Bill mould fraudulently twice effe&uallv draw in the fame Bill, and give the prima Bill to one Man, with Directions to find the fecond Bill accepted, and the fecond Bill to another Man, with Directions where to find the firft accepted Bill ; in this Cafe, he only hath a Right and Title to the Monies that firft procures Acceptance, he not finding an ac- cepted Bill, as he was directed, whether it be the firft or fecond Bill that is no Matter, nor whether it was the firft or laft negociated by the Indorfer. 37. When the PolTeffor of a Bill that is failed, to defraud his Creditors or others, conceals a Bill, and they afterwards difcover that he hath luch a Remittance in his Hands, or fuch a Dranght is, or 14 Ha y es V Negociator J Magazine or was in his Hands; then the Acceptant is ob- liged to declare, whether he hath accepted fuch a Draught to which if he anfwer in the Arhrma- tive, the Creditors, or any other concerned, may forbid the Acceptors paying it, without their or his Knowledge or Confent ; and if any Perlbn ap- pears at the Day to demand the Money, the Party that appears is obliged to declare and prove that he is the true Pofleflbr of the Bill -y and if no body appears to demand Payment, then the Acceptor is obliged to pay the Sum to the Creditors, or Aiiig- nees of the Party that is failed, they giving Secu- rity that the Acceptor (hall be noways prejudiced thereby ; or if he refufe to do it upon their Secu- rity, he may lodge it in the Hands of a proper Magiftrate, for the account of the true Owners thereof; and if the Acceptor refules this, the Cre- ditors, or their Ailignees, may unanimdufly pro- teft againft him for Non-payment, and fend the fame to the Remitter, to procure Satisfaction from the Drawer; and if he makes no Satisfaction, they may compel the Acceptor thereunto. 38. When a Bill is made to the Order of a Perfon that fails before the Bill is come to Hand, if he reeeives it, and endories it, making it pay- able to any other Perfon that demands Acceptance thereof, the latter being ignorant of the ririt Pof- felTor's failing ; in fuch a Cafe, the Acceptor (if lie gets Knowledge of the firit PolTelfor's tailing, and that he indoried the fame after he failed) need not pay the Value thereof to his Order, becaufe the iniolvent Pollelfor, alter he is failed, lias no Power or Authority over a Bill, nor can he legally endorfe the lame ; and therefore the Acceptor dotli wifely Of Money, Weights, Me a fures, &c. 1 5 wifely to pay the fame to his Creditors, provided they will give him fuch Security as (hall indemni- fy him from the fame, which if they refufe to do, let him fuffer the faid Bills to be returned under Proteft. 39. It is not without Sufpicion of Fraud, when a Debtor to an Infolvent pretends to have a De- mand on him (or to fet off an Account with him) and becaufe the Infolvent requefts it of him, he accepts the Infolvent's Bill, or underwrites a third Bill payable to fome of the Infolvent's Cre- ditors; if he pays the faid Bill, or if the third which he fubfcribes mould be returned under Pro- teft, and he is forced to pay the Re-exchange and Charges, be it which Way it will, it gives a great deal of room to fufpect that there is fuch an Un- derftanding between the Debtor and his infolvent Creditor, "as may eafily turn out to the Prejudice of the Infolvent's Creditors ; for by this Means they may find an Opportunity of making many fuch Bills. 40. When the PofTeffor of a Bill has neglected to procure Acceptance in time, and the Accep- tant, after the Drawer's failing, refufes to accept ; in this Cafe, the PoffefTor has no Privilege or Pre- ference more than other Creditors to the Effects that the Acceptant may have of the Drawer's in his Hands, though the Drawer drew merely upon thofe Goods, and it would have been accepted, if demanded before the Dawer's failing had been known. 41. Though a Poffellbr of a Bill (whofe Ac- ceptor fails before the Day of Payment, or within the refpite Days) hath an open Account with the Acceptant, 1 6 H a y e s V Nejroci nors Atajrazitot o o Acceptant, and is Debtor to him for a greater Sam than the Value erf the Bill • and though he may now, upon the Acceptor's failing, recontre, or let off* lb much, yet he would do more wifely, if he proteft for Non-payment, and lets the Bills be re-drawn. 42. If the Party for whofe account a Bill is drawn, fails before lie lias made good the pro- mifed Provilion to the Acceptant, then the Ac- ceptor, paying at the Time (or if not accepted, nor paid, but is returned with Proceff ) the Drawer hath Privilege and Preference before all other Cre- ditors upon any of the Effects of the Failed, that they have in their own Hands. 43. When an Acceptor of a Bill hath Remit- tances made to him for Provilion, on the Account of the Party for whole Account he hath accepted Bills ; and while thefe Remittances are in his Hands, and before he hath difcharged the (aid Draught, the laid Acceptor fails : In this Cale, the Principal muff anfwer the Re-c>:change and Charges, and muff be content to come in with the reff of the Acceptor's Creditors. But if, upon the Acceptor's failing, the Remittances are found in his Poffefiion, and have been received ; then the Principal that made thole Remittances has a Right to them, and nobody elle, they being to be paid to his Order j and though the Creditors have received the fame after the Acceptor is become in- folvent, yet they muff repay the fame again. 44. The Polfeflbr of a Bill proteffed for Non- acceptance or Non-payment, whofe Drawer and Acceptor are both failed, muff concur with the reff of the Creditors, not for the Value only mat \va~ Of Money, Weights, Meafures, &c. i J was paid but for the Re-exchange and Charges, and for the Sum that the Drawer and Acceptor were to have paid, if they had not become in- folvent. 45. If both the Drawer and the Acceptor fail, then the Pofleflor hath Right and Title to demand Payment of both their Effects, &c. and he may chufe with which he will iirft begin, and where he can fooneft procure Payment or Satisfaction ; and if one's Effects will not anfwer his Demands, he may then get as much as he can of the other's,, for they are both obliged. 46. And the fame Right that he hath to the Effects, or whatever elfe is belonging to the failed Drawer and Acceptor, till he be fatisfied, he hath alfo the like againft any or all the Indorfers, if the Bill is returned unaccepted : If any of thefe come to fail, and if the Bill be accepted, if the Acceptor, Drawer and Endorfers do all fail, he may come upon all their Goods and Effects for Satisfaction. 47. The Poffeffor may demand the full Sum with all the Charges out of the Goods and Effects of that failed Drawer, Acceptor and Endorfer, where he firft fets on as Creditor, and what he re- ceives lie muft place to Account, in part of his Demands; and if not fatisfied there, he cannot de- mand the whole again of another, but only the Re- mainder ; and fo from one to another, till he be fatisfied in full. 48. If the Poffeffor of a Bill, whofe Acceptor, Drawer and Endorfers are all failed, receives fome- thing in part of Satisfaction of his Demands; if the Failed's Truflees do thereupon demand an Acquit- tance, with the Ceffion of the Action to him or C thema 18 Hayes V Negotiator s Mawazine them, then the PofTeffor muft not acquit, nor transfer more of his Action to him or them, than for the Value that he hath received. 49. When the PofTeffor hath received of one of the Parties that failed, a Part of his Demand?, and tomes to another of the failed, to demand the re- maining Part, then lie cannot make a CeiTion of his Action againft him from whom he received the firft Part of his Demand, became he was there ad- mitted into the Concourfe of the whole Demand, and accordingly received his Proportion: So that though a Pofleflbr enter into a Concourfe with the other Creditors, and takes in as much as he can get of his Debt, of one of the Parties that fails, and he thereupon doth abfolutely difcharge him, yet he may for the Remainder come upon the other Endorsers or Drawer, until his Bill be fully fa til- lied, only he cannot transfer his Action againft him whom he hath difcharged. 50. When the Pofleflbr, whole Drawer, Ac- ceptor and Endorfers are all failed, does rinl re- ceive, in part of his Demands, of one of the fail- ed, for whole Account the Bill was drawn, but hath either drawn, or endorilrd, or accepted the Bill for another's Account, without having any Effects in his Hands, then the Pofleflbr and the Party from whom he received in Part, muft en- ter into a Concourfe between thcmielvcs, tad they muft demand of the others, or any of them that is filled, the fubla Sum, with the Charges. jt. If flie Pofleflbr of a Bill (houkJ agree, and compound with the Acceptor, and the Drawer is the Acceptor V Debtor for the bum he accepted, though the Drawer is thereby difcharged from the Remitter Of Move }\ freight j, Mc\f/ and wbat tbe Remitter before tlx Receipt thereof mujl mtrvfdj cbfer'je, 1 . * I ^ H E Drawer is obliged to give to the Re- £ mitter Bills for the Sum negotiated . z. The Drawer oueht to obferve. before he fubferibes die Bill, at lealt before he parts with it, and the Remitter before he receives it, at leart before he lends it to the Peat, or if to re-draw the Value, before he endorfes it, or pan with it out of his Hands, if it be well and truly made, and if all the Requisites neceffary be fatly exprelTed. 3. There be twelve Parts to be obferved by the Remitter and Drawer of a Bill of Exchange. C 2 ~ 4. It HayesV Negotiators Magazine 4. If it be fet down at the Top of the Bill, the Date and Place where and when a Bill was drawn, where the Difference between New and Old Stile muft not be forgotten. 5. In the fecond Place if the Value be fet down in the fame Line, i. :hfbrty Jjripfick) &c. in Gennanw 7. In the fourth Place, it muft be obfbrved in drawing a Bill of Exchange, to ipecify the Qua- lity of a Bill ; that is to lay, if it be the rirft, (ft- cond, or third. The Prudent having wifely eila- blinY-d that Precaution of taking two (and in fome Cafes more) Bills of Exchange for the fame Sum of Money ; that in Cafe the firft mould be left in the Way, or e) lev/here, the fecond may fupply its Place. And that tin Drawer may not be iubjc -r* November, 17— for 196 L. Sterl. Exchange, 34. s. 5 d. per L. At three Days Sight pay this my only Bill of Exchange to Mr. A. B. or Order, the Sum of One hundred ninety fix Pounds Sterl. in Bank Money, at thirty four Schilling and five Grotes per Pound Sterl. Value received of Mr. C. D. as per Advice from To Mr. G. H. Your humble Servant, Merchant in Amjlerdam. E. F. London TV May , i~— Crcwns 900 Exchange, at 34 d. per Crown. At Sight pay this my firft of Exchange to Mr. A. B. or Order, the Sum of Nine hundred Crowns, at Jixty Sols Tournois per Crown, Value leccived at thirty four Pence Sterl. per Crown, as per Ad- vice from To Mr. E. F. Your humble Servant, Banker in Paris. C. D. Crowns 900 at 34 d. per Crown, London 77 Ma\\ At Sight pay this my fecond of Exchange (my firft not being paid) the Sum of Nine hundred Crowns, at fixty Sols Tournois per Crown, Value received at thirty four Pence Sterl per Crown, as per Advice from To Mr. E. F. Your htixnbk Servant, Banker in Paris. C. D. The third Bill of Exchange agrees in every thing with the firft and fecond, onlv with this Addition, Pay Of Money, JFetghts, Meafares, &c. 25 Tm this my third Bill of Exchange, my Jirjl and fecond not being paid. Exchange 200 L. Sferl. at 33 s. per L. Sterl. London, July. At ten Days Sight pay this our firft of Exchange to the Order of Meflrs. A. B. the Sum of Two hundred Pounds Sterl. in Bank Money, Value in two Bills of Exchange received of them, at thirty three Schillings per L. Sterl. as per Advice from To Mejjrs. E. F. Your humble Servants, Merchants in Anifterdam. C. and D. 16. In the laft Example foregoing may be ob- ferved, that Bills drawn at fo many Days Sight, Weeks or Months, are otherways underftood in the lame Terms. As the laid Bill is fuppofed to be drawn by C. and D. Partners, Merchants in Lon- don, to the Order of A. and B. two other Partners Merchants at the fame Place, upon E. and F. fup- pcicd to be Merchants Partners*in Amjlerdam ; in which Cafe of Partnership it is ufual to fign with their Sirnames only, except when a Partner is ab- fent ; in fuch Cafe the Partner prefent iigns both his Name and Sirname for himfelf and Company, elfe the Bill, Bond or Obligation can be nowavs binding, or of any Force againft the Party or Par- ses that have not iigned. Exchange 500 Crowns, at 35 d. per Crown. Louden, \~ April, At Ulance, pay this my firft to Mr. A. B. or Order the Sum of Five hundred Crowns, at fixty Sols %6 Ha yes's Negotiators Magazine Sols Tournois per Crown, Value received in Goods of the laid A. B. at thirty five Pence Sterl. per Crown, as per Advice from To C. D. Merchant Your*, (Sc. in Roan. Exchange 560 Crowns, London, ii November — The nineteenth of December next pay this my firft Exchange to the Order of Mr. G. H. the Sam of Five hundred and fixty Crowns, at fixty Sols Tournois per Crown, Value in Account with L K. as per Advice from To Mr. L. M. Merchant Yours, && in Bourdeaux. Exchange 1000 Crowns, London *7ft""*2 At the ufual Fair of Eajier pay this my firft of Exchange to Mr. 0. P. or Order, the Sum of One thoufand Crowns, at lixty Sols Tournois per Crown, Value received of Sir /. L as per Advice from To N. M. Merchant Yours, (Sc. in Lions, 17. Sometimes it falls out, that but one fola Bill of Exchange is made for one Parcel; but ordi- narily, efpecially when the Places are of a confide- rable Diftance, two and fometimes three mult be made to the fame Place. 18. A Remitter deals imprudently when he re- quires or accepts of one folar Bill of Exchange for one Parcel, though it be to be paid upon Sight, if the Of Money j IFdghts, MeafureSj &£. 17 the Place of Payment be of any Biftance from the Place where the Contract is made. 19. The Drawer is obliged to give the Remitter as many Bills of Exchange as he mail require, and to proportion the Sums according as the Remitter re- quires ; and on the contrary, the Remitter is obliged to receive as many Bills from the Drawer, and to furnhh him with fo much Monies as the Sum agreed on will amount to. 20. The Drawer deals imprudently, when he makes more Bills of Exchange than one, for one and the fame Sum, and of the fame Import ; and in cafe the Remitter requires thus much of him, then let him make one Bill for the Sam the Re- mitter defires, and let him for the other Sum make two Bills, all amounting to the defired Sum ; that is to lay, if the Remitter would have two 400 L. Bills at one Time, let the Drawer make him one 400 L. Bill, and divide the other 400 L. into two Bills. 21. The Drawer muft efpecially obferve, that for one and the lame Parcel of Monies, he does not make two Prima's or two Secunda's, but he muft obferve to diftinguifh them clearly, as well in the Body of the Bill, as on the Superfcription. 22. It is Prudence in a Drawer, when a Re- mitter requires a fecond Bill, &c. and the Drawer is not certain whether he has given a fecond Bill, to make a third inftead of a fecond, or a fourth inftead of a third. 25, The Drawer muft alfo obferve, that ail the Bills that are for one and the fame Sum or Parcel muft bear one and the fi.me Date, and muft be in every 2 8 Ha YE s V Negotiator s Magazine every Rcfpecl: alike, only with this Difference, that one is the Prima, and the other is a Secunda. 24. The Drawer may direct his Biil to whom he pleafeth that hath Authority, and is obliged to accept them, nay, even on his own Servant whom he maintains abroad. 25. A wife Drawer will make no Bills payable at Sight, nor at fo many Days, Weeks, or Months, after Sight; neither will he, if he can help it, make any Bills payable to him on whom it is drawn, uniefs he be abundantly fatisfied of his Suf- ficiency and Faithfulnefs. 26. The Drawer is obliged to alter the Bills when the Remitter requires it (tho' alreadv made -according to his Order) cither by dividing the Sums, or by making them payable to another, in cafe no Man elfe hath endorfed them, if the Re- mitter will be at the Charge of Foliage of the Let- ters, &c. but if the Bill is accepted or endoried, the Drawer mutt be very cautious in altering any Thing. 27. A cautious Drawer will be careful to change or alter in both or all the Bills what lie changes or alters in one. 28. No Remitter is obliged to receive any Bills from the Drawer which are not made payable by the Drawer himfelf, except at the great Marts and Fairs. 29. When in the concluding of a Parcel, the Broker exprefly promifcth to the Remitter, that the Drawer fhall deliver him Bills that are drawn, endorfed or accepted by a known Sufficient Man ; then the Remitter is not obliged to receive the Drawer's Of Money, freights, Meafures, &c. % 9 Drawer's own Bill, nor unaccepted Bills, nor any other Bills that are only endorfed by the Drawer. 30. A Remitter muft be cautious in accepting or receiving of accepted Bills of Exchange, which are made payable to the Order of the Drawer, and endorfed by him, unlefs he knew the Drawer to be fufficient. 31. He muft alio be cautious of receiving Bills, that are not made, drawn, or accepted by a known fufficient Man, whofe Hand-writing he knows, if the Endorfer or the Drawer in of the Value be an unknown Man. 32. A Remitter, that muft have Bills payable at Sight, is not obliged to receive Bills, whofe Term of Payment are nearly expired, or will in all Probability be expired before the Bills can arrive at the Place of Payment ; and if he be blameable at any Time for this, 'tis then moft of all, when he knows the Poft is very uncertain, by reafon of the Badnefs of the Ways, or other Inconvenien- cies, unlefs the Drawer will fufficiently warrant and infure to him the Payment of it, if it mould not be demanded before the Term was wholly expired. Sect. III. Of Brokers, &c. 1. T3ROKERS are Perfons fworn and autho- X3 rifed by the Magiftrates whofe Bufinefs it is, to enquire of Perfons who have Monies to re- mit or draw, and to agree with fdeh Perfons con- cerning the Conditions, and to deal impartially between $o Ka yes's Negociators Magazine between them both \ it being their Duty to be di- ligent, faithful and private, they are not to cheat or over-reach the Drawer or Remitter -y but mull be Qpnfignt with the ulliai Allowance for Bro- kerage, and not exact more from one than an- other. 2. A Broker mud be very diligent and prudent, and mult frit of all know of the Drawer or Re- mitter to what certain Place they will exchange ; and if it be inch a Place where there is always a certain Ufance obferved in the Payment of Bills, he has nothing elfe to do, but to treat cf the Price. But in cafe they would exchange to Places where there is no fettled Ufance, then they mult agree about the Time of Payment, with what elfe is ne- ceffarv to conclude the Bargain. 3. When a Broker hath concluded with any, then he mult tell the Drawer to whom he will have the Bills made payable, and muit thereupon note in his Book what the Sam was for which he concluded ; what Time for Payment of the Bill ; to whom it muit be paid ; from whom the Value muit be received, and at what Price the Exchange was made ; which Memorandum he muit give to the Drawer, that he may accordingly make or en- dorfe his Bills of Exchange. It is the Broker's Duty to fetch the Bills when they are made from the Drawer, and to carry them to the Remitter. 4. And the Broker is obliged to keep a perfect and true Reeiller of every particular Bill, and Bwft Date in his Book at Home who the Parties were, as well the Drawer's as the Remitters Name ; to what Place die Bill was directed, and to whom j to whom it was payable, at what Time, Of Money, Weights, Meafures, &c. 3 1 and what the Price was, and the preclfe Day when this was concluded on ; becaufe that in cafe of any Difference between the Drawer, and Remitter, the Regifter, and Word of the Broker that is of known Honefty, will be the beft and greateft Evidence. 5. It is a great Fault for Merchants to contract with a Broker upon Hazard before Exchange Time, and it is as imprudent for any one that has but litde Credit of his own, when he has Occaiion to draw, to give Orders to more than one Broker for it. 6. A Broker in concluding Exchanges mud not conclude any Thing, either as to the Time or the Price, without Order, the Drawer having great reafon to be angry with the Broker, if he concludes without his Knowledge at a difadvantageous Price, though the Broker fhould offer Satisfaction for the Lofs, becaufe the Drawer's Credit is concerned therein. 7. A Drawer hath no lefs reafon to be angry with the Broker, if he without his Knowledge or Order, promifes the Remitter any Time for the Payment of the Value. 8. A Drawer is not obliged to make his Bills at fhorter Sight or Time, nor is the Remitter obliged to accept Bills made at a longer Time of Pay- ment, or on any other Perfon than was agreed on by the Broker. 9. It is the Duty of the Broker to maintain the Credit and the Reputation of the Drawer as much as he can, if it be not contrary to his Knowledge- But it is not advifeable for him to oblige himfelf for his Sufficiency, which fonae Brokers for the fake 5 Z Ha yes\t Negotiators Magazine fake of their Brokerage have done, and have too late repented thereof. 10. Unknown Bills of young Beginners, or of thofe that feldom frequent the Exchange, who are known to be fufficient, a Broker may freely offer ; but it greatly tends to the Diminution of his Credit, if he ordinarily offers Bills of thofe that are known to be of little Repute or Credit, efpe- daily if he recommends them; yea, it is perfect Knavery in him to draw for any Man, whole Bills Jie knows will not be anfwered, or remit for any he knows cannot pay the Value. 1 1. A wife Merchant will not credit that Broker again that hath once cheated him, nor will he fuffer himfeif by the Inlinuation of a Broker to be feduced in Hopes of great Advantage to act any thing contrary toHoneily, or the Laws of Land. 12. He that by a Letter of Attorney, or dill Power, will draw in another's Name, is bound ex- prefly to fignify fo much to the Broker ; and the Broker mult conclude the Parcel in the Name of the Principal, and not in the Name of the Party that has the Order. 13. The Merchants, both Drawer and Remit- ter, will, before they finally and abfolute conclude, enquire of the Broker of the Sufficiency of each other, it being the Broker's Duty to inform them as well as he can. And when an Exchange is concluded by the Affiftancc of a Broker, it cannot be made void without the Confent of the Parties concerned, and the Brokerage mint be paid. Sect. Of Money , Weights, Meafures, &c. 3 3 Jcct, IV. Of the Payment of the Value by the Remitter to the Drawer. IN Exchanging, Credit mutt be given ; but the Drawer had need to obferve to whom he gives Credit, that he gives not his Bills to him that can- not, nor will not pay the Value ; and the Remit- tor had need to obferve whom he credits, that he gives not his Monies to one that cannot, nor will not pay his Bills : fo that the one, as well as the other, mud be careful and enquire into one ano- ther's Security* 2. Bills are fometimes given by one; who will himfelf difcharge the fame • fometimes they are charged on a Debtor, who is to difcharge them. See more of this hereafter. But the Value of Bills are commonly paid in ready Monies ; and if the Drawer be fatisfied with any thing elfe, it is ree- kon'd for and as ready Monies, 3. All Bills of Exchange that are negociated or concluded in Holland or Hamburgh, or any other Places where Banks are erected (abroad) are pay- able in Bank, if they exceed a certain limited Sum, upon Penalty that fuch Bills exceeding that Sum, not paid in Bank, fhatl be adjudged as not fatis- fied, and of Forfeiture of a certain Sum to the Bank, befides by thofe that act contrarily; nor muft a Broker fuffer himfelf to be employed about any Bills exceeding that Sum, to be payable out of .Bank, or to ad any thing to defraud or evade the *aid Statute,- or Order, by dividing the Sums and D kffening 34 -Hayes7/ Negotiator s Magazine leflening them, that they may be payable out of the Bank, upon Penalty of incurring the Hazard of being fufpended, and deprived of his Office and Employment. 4. Notwithstanding that it is commonly {aid in Bills of Exchange that the Value is received ; yet the Remitter very frequently omits paying the Value to the Drawer, till two or three Days after the Delivery of the Bill -y and fometimes it is Time enough, if he pays at any Time between the Deli- very of the Bill and the next Poft. Nor can the Remitter delay the Drawer any longer, unlefs it were exprefly conditioned, that fome Time mould be given for the Payment of the Value ; if he does, the Drawer may then forbid the Payment of his Bill, and demand Satisfaction of the Remitter. 5. When a Remitter conditions for Time to pay the Value, till he hath Advice of the Bill's being; accepted ; in this Cafe, it is necedary for him to make thofe Conditions with the Drawer himfelf, and not for him to rely on the Mediation of the Broker. And if the Remitter has conditioned with the Drawer, not to pay the Value till hie hath Ad- vice of the Acceptance of the Bill, if the Bill it protefted for Non-acceptance, he is not obliged to pay the Value ; but if it be accepted, although it be by one whofc Sufficiency is iulpecled, he is Hill obliged to pay the Value. 6. The Payment of the Value of a Bill drawn by Ay as having a full Power from B} muft be made toy/, but A rtiuft be obliged to make his Power appear • and to in die Name of the Prin- cipal he mult be paid the Value, and difchargc the Remitter accordingly. 7. A prudent Remitter will not pay the Value bf a Bill, but upon an Affignment or Acquittance from the Drawer, exprefly flgnifying, that the Payment is for the Value of fuch a Bill ; and this he is to obferve, as well in the Payment of Bank, as in Current Monies. 8 . A prudent Remitter will not offer to pay iri Cam, or in Current Monies, what he is obliged to pay in Bank, without an Acquittance or Affign- ment, beeaufe fuch a Payment is not fatisfadtoryj, ^nd is contrary to Order. 9. If the Value of a Bill, either in Bank or Cur- rent Monies, be paid to the Drawer, by any other than the Remitter,- for the Remitter's Account! Or by his Order, in cafe it appears that fuch Mo- nies is not paid to the Drawer upon the Remitter's Account; and by his Order ; the Drawer would ac> very cautioufly and prudently,- if he demanded a Note under the Payer's Hand, fignifying by whofe Order, and for whofe Account he makes fuch Payment. Sect. V. Of Negotiating, Drmving in, or En* doijing Bills of Exchange, made payable to Order. i.TT is not advifeable for a Drawer (if he can j[ any ways avoid it) to make his Bill payable to Order. 2. And a Remitter, for his own Account, dees * not act prudently, that orders his Bills to be made payable to the Order of his Correfpondent, or that doth himfelf fo endorfe them, if his Correfpon- D 2 dent 56 Ha v esV Negociafor%j Magazine dent lives at the Place where the Bill is to be la- tisried. 3. A Remitter that remits for another Man's Account, doth very imprudently if he orders the Bills to be paid 10 his own Orders, and ib en- dorfeth them ; for then he himfelf ftands obliged for the Value v/ithout having any Advantage thereby. 4. Alfo he that remits for another Man's Account , mould not make the Bills payable to his own Or- der, and fo endorfe them -y for then he make^ them his own Bills, and is obliged to anfwer Re- exchange and Charges, &c. but if he order the Bills to be made payable to his Principal, or his Orders, then he is obliged for no more than the Sum he received, and may place the Re-exchange and Charges to his Principal's Account. 5. He that remits to a third Per J on, for the Ac- count of another, the third Pcrfon dwelling: at the Place where the Bill is to be difcharged, mull not order the Bills to be made payable to the Order of him to whom he remits, unlefs his Principal hath given exprefs Order ib to do. 6. If any remit for their own Account, with Defign to re-draw the fame himfelf, or orders it to be re-drawn by fome other, in fome other Place, or for fome other Account, Off. then they mult obferve to order rhe Bills to be made payable (or fo endorfe diem) to their own Order, or to the Oi\1er of him that (hall redraw them ; for none can rjcgociatd or re-draw a Bill of Exchange, except it be made payable to his Order who mult nego- tiate ii, becaufc a Bill made exprefly payable to one, muft payable to him and no other. Of Money, Weights^ Meafures^ &c. 5 ^ 7. In the re-drawing of a Bill the Re-drawer is looked upon as the ablblute and firft. Drawer, and the Remitter as the firft Remitter ; fo that the En- dorfer of a Bill is as ftrictly obliged as the firft Drawer and Maker of it, and the PofiefTor thereof hath as much Right and Law againft him as a* gainft the firft Drawer. 8 . The Re-drav/er or Negociator of a Bill does not make a new Bill, but endorfeth the old in fuch Words as thefe, Pay this for me to A. A. (or his Order) the Va- lue hereof in my own Hands (or , from B. B. ory &c.) a a By this Endorfement, he to whom the Bill is lent is the true and right FofTeffor of it, and needs no other Alignment, Tranfport, or any other Ti- tle or Right, neither need he give the Drawer or Acceptor any further Account of it, viz. How he comes by the Bill. And thus when the Endorfe- ment is made payable to Order, he to whom it is endorfed as payable may again endorfe it ; and fo it may be as often endorfed as their is Room for Endorsements on the Bill. 9. The Acceptor himfelf, as well as any other, may freely negociate thofe Bills of Exchange that are accepted by him for his own Account, if they be made payable to Order by the firft Poffeftbr and En- dorfer ; and he may again endorfe and negociate them, and make them payable to his (the Ac- ceptor's) Order ; and for all this2 the firft Endorfers do ftill remain obliged. 10. If the Endorfement has no more than, Pay to N. N. and it is not expreftcd from whom D 3 the 38 Ha yes'jt Negotiator's "Maga&ln \ the Value was received, or was recounted, then it is looked upon as no more than a fittgfe Order, and the Endorfer is coniidered 1121 as the principal Pof- feffor of the Bill. 11. In all Endorsements, the Place where, and the Time when it was done, ought alio to be ex- prefled ; and above » II, the Endorler rtnift oblerve to fubferibe hi Name. A". B. He that antedates, or poftpones the Date, is guilty of Fraud and De- ceit. 12. A Remitter that hath an endorfed Bill put into hL Hands, mull obferve if die Bill itfelf is well made, and is compleat in all its Reqnifites, as if he himfelf were the firft Remitters but efpe- cially, he mult obferve if in the Endorfement the Name of him, to whom it mull: be paid, be well and truly fpelt or writ. 13. A Re-drawer or Endorfer doth very impru- dently, if he delivers into the Hands of his Re- mitter, with whom he contracted, Bills that he has by him endorfed in blank. 14. But yet greater is the Hazard and Folly of the Endorfer, to fend ;uvay Bills with blank En- dor Cements ; and yet greater is the Error, when he that fends the Bills away and the Endorfer are two diftina Perfons. 15. He alfo is very care! eft and ignorant, that fends away a Bill of Exchange made payable to his Order, with a Defigfl to ..-draw the Monies, or to demand Pavmeiv , an:! doth not frri\ endorfe his Bills. 16. !f an Endorfer commit any Error in the endorfing, or hath neglected any Thing, lb that Damage is like to enfue thereby, the Endorfer is obliged Of Money ^ IFclghts^ Meafnres, &c. 3 9 obliged to make good the Lofs, and neither of the Endorfers before nor after him are anyways charge- able with it. 17. The Endorfer muft bind himfelf precifely to the Terms of the Bill, both as to the Sum, and Time of Payment. 18. If the Endorfer cannot meet with a Remit- ter, for the neat and precife Sum ; then if he meet with two Remitters, 'tis obferved, if he hath both firft and fecond Bills in his Hands, that he ought to endorfe them both 3 on one, fo much to Ay the Value of B and the reft on C, the Value of D ; and fo muft give to B and 2), each one Bill ; or in cafe he finds Monies for Part at one Time, and hath Time enough to keep the Bill to feek for more, then he endorfeth both Bills to pay fo much to 25, the Value of jF, and the reft to his Order, and gives one Bill to F, and keeps the other till farther Conveniency. But if there be but one Bill in the Endorser's Hands, and he negociates the Bill with two Perfons, then he muft endorfe the Bill he hath, and take a Copy of it, and en- dorfe it alio, fo much payable to one, the reft to another; and the original Bill muft be deli- vered to him that hath the greater Sum, and the Copy to the other who is to receive the lefs. Sect. VI. Of demanding Acceptance* j, A CCEPTANCE of a Bill may be de- - Xj^ manded by the PorTefTor, as foon as it (hall come to hand > except it be only payable at D 4 fome 40 H a y e sV ISigocidtors Magazine fome great Fair, then the Acceptance can't be de- manded till the Fair begins. 2. Any one to whom a Bill is entruited, as well as the Remitter, or actual FoflefTor thereof, may demand Acceptance ; and it is the Duty of every one to whom a Bill is lent to procure Acceptance, or inftantly to demand it. 3. Acceptance muft be demanded of him only to whom the Bill is dire&ed to, and it is in his Power to accept it or not, the Principal being not bound to accept his Factor's or Servant's Bill, un- lefs he pleafes ; nor is a Factor or Servant obliged to accept his Principal's Bill. 4. Though the defigned Acceptor hath by Let- ter of Advice promifed Acceptance on account of a third Perfon, yet the PclTeiibr of a Bill cannot compel him to accept the lame ; but how ever, he remains obliged to the Drawer to make good all the Lofs and Damage, either in the Exchange and Charges, or in Credit of the faid Drawer, feeing he drew relying on the Faithfulnefs and Promife of the faid Acceptant. 5. To accept a Bill of Exchange, is obliging ope • felf to the Payment and Discharge thereof; and if the Drawer fails before the Bill is diicluiged, the Acceptor is obliged to, pay the fame, nor can he have any Redrefs on the Endorfers. 6. Acceptance is cither Verbal, or by Writing. A Verbal Acceptance is obligatory to the Perfor- mance, and the Acceptor mui! perform his Pro- mife. Now a final) Matter amounts to an Accep- ta ,ce, If there be a right Undcrltanding between b/ ;; Parties; as, Leave year Bill with me: and I pill accept #/, or, Call for it tomorrow^ and it [hall Of Money, Weights, Me a fur es, &c. 4 1 he accepted 5 that does oblige as effectually, by the Cuftom of Merchants, and according to Law, a§ if the Party had actually figned or fubfcribed it as ufual. But if a Merchant mould fay, Leave your Bill with me ; I will look over my Account and Books between the Drawer and me ; and call tomorrow y (ind the Bill Jhall be accepted ; this {hall amount to a compleat Acceptance : For this Mention of his Books and Accounts was really intended to fee if there were Effects in bis Hands to anfwer the Draught, without which perhaps he would not accept the fame. And fo it was ruled by the Lord Chief Juftice Hales at Guild-hall. And a- mong Merchants fuch verbal Acceptances are bind- ing, and is taken for Acceptance of a Bill, if the fame can be proved by Witneffes : And if after- wards the Perfon that has thus accepted, (hall re- fufe to fet his Name to the Bill, and to write un- der, Accepted, according to the Cuftom of Mer- chants ; in this Cafe, the Poffeffor may reft fatis- fied with fuch Acceptance until the Time of Pay- ment 5 and if Payment be not made in due Time, the Poffeffor of the Bill may take his Courfe in Law againft the Party fo accepting, and doubdefs will be compelled to make good the Payment, pro- vided the Bill is firft protefted in due Form for Non-payment. It is but reafonable fuch an Ac- ceptance mould be good and binding ; for it may fo happen, that very Bill of Exchange was only fent for Provifion to the Party to whom it is made pay- able, to the end he may have another Bill of Ex- change charged and drawn upon himfelf ; and he having a verbal Promife of the Bill payable to him- |elf, upon Confidence of this, he may chance to accept 4 i HayesV Negotiators Magazine 1 o o accept the other drawn upon him ; or it may be, the 13111 was fent to fjrnilh him with Money to buy ibme Commodities for the Perlon that remit- ted the lame, and upon ibme inch Acceptance, foppofing the Money will be paid him in ti:re, he may char.ee to have bought the Commodities for his Friend, and may have wiitten to his Friend, and given him Advice that he has promifed Ac- ceptance, or that he doubts not of Acceptance, or the like ; and upon inch Advice given, his Friend will take notice thereof, and make his Account accordingly. And truly, if a verbal Acceptance were not binding, there might happen great Incon- veniencies in Trade between Merchant and Mer- chant, among whom, in their Way of Commerce, their Word is, or ought to be, as binding as their Writings. 7. In moft Places abroad, accepting by Writing are done two Ways, either by Letter, or by the Acceptor's writing under the Bill 5 and if the Ac- ccptant by Letter does advife the Poifeffor of the Bill, that he will accept, and dees accept it, ic is as obligatory as if he had underwritten it wkh hi> own Hand. 8. When an Acceptant accepts a Bill, he under- writes his Name and the Time thus : Accepted A. B. But if the Bill is payable at fo many Days or Weeks Sight, he adds to the Acceptance the Day when he accepts it : January 7. Accepted A. B. But generally in fuch Bills as are to be paid after Sight, ibme ufe the Word (feen, or Jkrurn mc) adding Of Money, freights, 1\ fenfires, &c. 43 adding the Day when ; cr both (as, Seen and oc- ccftca, Sec.) a It is cufiomary in fome Places for him that demands Acceptance, to leave the Bill in the Hands of the Acceptant (or Party the Bill is drawn upon) unleis he presently declares whether he will accept it or not, tall he compare it with his Letter of Ad- vice, and to give his Resolution, and note it in his Memorial ; but then before the Return of the Poll:, he demands it again, and a poikive Aiiiwer ; and if he refines accepting, it muft inftantly, without Dehv, be pro-elled for Non-payment. ic. And in Am/t ler 'dam , if Bills are payable in Cam, or Current Monies, they ought prefently, without Delay, to be accepted ; fiich Bills ought not tc be trailed with the Acceptant, efpecially if (hey are payable to Order. 1 1. He that receives a Bill without declaring po- litivelv, whether he doth accept it cr not, and de- tains the fame till there are fome bad Reports (bread dxoad concerning the Drawer, is obliged to return the Bill inftantly, that it may appear whether he hath accepted it or not. 12. If a Bill, by Negligence, or on Derign, is left in the Hands of the Acceptant till the Day of Payment, or till bad Reports are fpread abroad con- cerning the Drawer, and that the Acceptant hath not promiled Acceptance ; in inch Cafe, the K : ceptant cannot be compelled to dilcharge A Bill, on pretence that he ihould have returnee Bill, if he would not have accepted it; for i: is the Duty of the Poffeffor to take care of his B and to fee that the fame be either accepted or p - tefted ; and if the Acceptant hath not under wrh> ten 44 HA YE s V Negotiators Magazine ten it, nor promifed Acceptance, he is not obliged, nor cannot be compelled ; but yet it had been Prudence in him, prefently, without Delay, to have returned the Bill to the Poffeflbr, and declared that he would not accept it. 13. He that receives a Bill payable at Sight, or ibme Days after Sight, &c. and detains the fame by him fome Days, without declaring whether he will accept it or no, is obliged, if he afterwards refolves to accept it, to accept it from the Day it was prefented. 14. In cafe a Bill payable at a Month after Sight, be prefented for Acceptance on the laft Day of the Month, he may accept it that Day, and it will not be payable till the laft Day of the next Month. 15. Though the Acceptant hath accepted the Bills drawn on him, yet the Drawer is ftill obliged till it be paid 5 but the Acceptor of a Bill of Ex- change is obliged to the Performance, till the Bill is fatisfied ; no Length of Time, nor Negligence in demanding, can weaken or make void the Obli- gation, and, in that Refpect, an Acceptor is more obliged than the Drawer : For if the Bill be not fatisfied within the limited Time, and the PofleiTor neglects to proteft for Non-acceptance, he thereby lofes the Advantage of feeking his Redrefs on the Drawer, but not on the Acceptor. 16. A Remitter acts prudently, if, without De- lay, he demands Acceptance ; feeing Delay may breed Danger, and fufpicious Reports concerning the Drawer being fpread abroad, may prevent the Acceptant's accepting of his Bills, which he before would have done, if the Acceptance had been de- manded : Of Money, Freights, Meafures, &c. 4 5 manded : And if, by Fraud, one Bill fhould be twice drawn in, he that demands Acceptance firft, and gets it, fhall oblige the Acceptor to make good Payment to him ; whereas the other that has ne- glected, mull feek Redrefs on the Endorfer, and the Cafe may be as it will, having once got Ac- ceptance, the Remitter will have two obliged for the Payment, whereas otherwife he hath but one. 17. It does alfo very much tend to the Security of the Drawer, (whether it be for his own or an- other's Account, efpecially when the Bill is pay- able at Sight, or fome Days, or Weeks or Months after Sight, or at Ufance, when Ufance is reckon- ed after Sight) to get the Acceptance procured without Delay, for otherwife he can make no true Account when his Bills are due, and when pay- able and in all Cafes the Acceptance is an Obli- gation and Security to the Drawer, as well as to the Remitter. 18. Every Remitter that remits not directly, but defigns to draw in the remitted Sum again, either by himfelf, or others refiding in other Places, ought to fend the prima Bill directly to the Place where Acceptance muft be demanded and then in cafe he orders the accepted Bill to be left in the Hands of the Party v/ho demands Acceptance, he may endorfe a fecond Bill, but he muft not forget to advife in whofe Hands the accepted Bill remains, and of whom it muft be demanded. 19. When the Remitter fends his Bill away to demand Acceptance, he ought exprefly to order his Friend, whether he fhall keep it by him, or return it to him again when accepted, or fend it to any other Perfon j or if he muft keep it, whe- 46 Ha y ESs Kegociators mag4ztkt ther he muft deliver it to the Party that fhall (hew him the endorfcd Bill. 20. A Drawer acts prudently if he doubts of his Bill being accepted, to recommend the fame to fome of his Correfpondents reliding at the Place where it (hould be accepted and paid, to prevent the Difrefpecl and Dishonour of his Bill • and if the Bill be made payable to Order, he ought to give the Remitter notice to whom the Pofleffor fhall addrefs himfelf, in cafe the Perfon on whom the Bill is drawn, denies to honour and accept it. 2*1; When a Bill is prefented for Acceptance,- the Acceptant fhould take fpecial Care that the Bill prefented be of the fame Tenor with the Let- ter of Advice, before he declares whether he will accept or not ; becaufe he that inadvertently ac- cepts muft pay the Bill, no Exception being able to excufe him afterwards. 22. What is once accepted, can no ways be dis- annulled and made void : an Acceptor is obliged to pay a Bill, though he had it not in his Hands, nor perufed it, if it can be made appear that ]>c in Words accepted it; therefore the Acceptant (hould be careful, and accept no Bills but fuch £ he will pay. 23. As the Acceptant is free to accept, or not to accept Bills, for whofe Account foevcr offered • lb lie is at Liberty to accept freely, or fupra pro- teft (imply, or with any Limitation or Condition. 24. But a prudent Pofleflbr will not take Ac- ceptance that is limitative or conditional, whereby either the Payment i;; prolonged or made difficult; br if the Tenor of a Bill be any way altered, 1111- lefs he has exnrels Orders from the Drawer and Remitted Of Money ) freights, Meafures, &c. 47 Remitter fo to do, but will proteft againft the Ac- ceptor, as if he had abfolurely refufed to accept it ; for whoever does otherwife, and fuffers himfelf to be fatisfied with a conditional Acceptance, muft run the Rifk and Hazard himfelf. 25. If a Bill be drawn on Daniel, John and Ijaac, they not being Partners, nor any ways ob- liged to one another, every one mull accept for his Proportion fo much as he will pay, fo none of them are obliged to accept for the whole j and the Poffeflbr muft be content with fuch an Ac- ceptance ; and in cafe they do not altogether ac- cept for the whole Sum, then he muft make pro- teft againft them all in particular, though one or two of them has accepted their full Propor- tion. 26. An Acceptant fhould be fo careful as not to accept a Bill without Advice from the Drawer, or at leaft not accept any fuch but fupra proteft in honour of the Drawer 5 though he hath Orders from a third Perfon, that if fuch a Sum or greater be drawn for his Account, to accept it. 27. Nor fhould he accept Bills that are of later Date than the Letters of Advice that he receives by the lame Poft ; nor in Cafe the Letters do not mention, nor confirm fuch a Draught, of fuch a Date, though the Letter of Advice be of the fame Date with the Draught, he fhould not accept thereof 5 for the Advice and the Bill fhould pun- ctually agree. 28. Nor fhould he accept of any Bills fubfcribed by a Perfon, who pretends to have Order and full* Power from another, unlefs he knows his Seal and Hand- writing, and the Principal hath given Advice, that 48 Ha y e:s V Negotiator*} Magazine that he hath given fuch Order and Power to focS and fuch a Perfon, for fuch and fuch Ends. 29. He muft alio be careful in accepting a Bill, if he fufpcdt? or believes that he hath accepted one; of the fame Tenor, and for the fame Sum, and muft not accept of the laft Bill,- but under Proteft. that fuch Acceptance mall be null and void, if it be found that he hath accepted another of the fame Tenor, and for the fame Suva. 70. A Servant muft be careful in accepting Bills that his Mafter draws upon him ,' for if he accept in his own Name, he obligeth himfelf perfonally, as if the Bill were for his own Account, though he does no other than his Matter's Bufinefs ; but the Effects he hath of his Matter's in his Hands are obliged for the fime, io far as they will reach : and if they are not fufficient, he mutt Debtor his Mafter for the reft : wherefore let a Servant, when he underwrites Bills for his Matter's Account, fay, Accepted for his Mafter s Account \ and then fet his Name underneath. 31. The ufual Formality that Servants ufe in accepting Bills of Exchange, r:iz. that he accepts the Bill, as having Order and full Power from his Matter to that End ; he who is the Drawer, will not excufe him if the Bill be made for his own Ac- count: but if the Bill be made for the Account of his Mafter, and the Servant accepts it on thofc Terms or fuch Terms, then that Acceptance would not oblige him, but his Mafter only. 32. If any Factor, or Correfpondent, defires his Friend, or Correfpondent, to draw a certain Sum on him, and promifes to accept the faid Bills; and when the Bills come, he refufes to do the lame, fuch Of 'Money Weight sy Meafures\ &c. 49 fuch a Faclor is not only a Knave, let his Excufes be what they will ; and he ought to be obliged to accept the faid Bills, if they be according to his Or- ders, and not only make Satisfaction for the Lofs and Charges, but alio to the Drawer for the Difcredit done to his Reputation, and to be punilhed feverely for his Knavery be rides. 33. If a Bill be drawn on two or more People, they ought all to accept it ; and if any one re- futes, the Bill muft be protefted. But if it be drawn on two or more, and it is expreffed, To A. B. and C. D. or either of them, its being accept- ed by either of them, is fufficient. 34. If a Name of a Bill be mended, or inter- lined, the Merchant on whom it is drawn doth not well if he accepts fuch a Bill ; but if he does, he will be obliged to pay it: For if a Name is mended, or interlined, it is no fufficient Caufe, nor legal Warrant, to refufe the Payment when it falls due, if the Name was fo interlined or mended before he accepted the fame. Sect. VII. Shewing what the Poffeffbr of a Bill of Exchange, protefted for Non-acceptance, and is not accepted fupra Proteji, together with what the Drawer and Endorfer are obliged to do. 1. TIE that hath a protefted Bill for Non- X JL acceptance, whether he be the true and real Owner, or only a third Perlbn who it is fent to, to procure Acceptance, muft, if it be not ac- cepted fupra Proteft, advife the Perlbn thereof who E fent yfftf! H H a X£ sV Negotiator's Magazine ^ lent him it to get accepted, and muft give or fend to. fjie laid Perfort either the Proteft alone, or both We^BMfidYProteft together. ^c 2. fffPBill be made payable pofitively to fuch ^^fi^jfp1]^ ^^^^eptance is abfolutely denied, then bSth fhe ■PSfmid Proteft muft be returned from whence they came but if Acceptance be delayed, and not abfolutely denied, but Hopes are given by the Acceptant that he will accept the next Poft, he expecting more furhcient Orders and further Advice, and that then he may accept the protefted Bill ; in this Cafe, the Poffeflbr muft only return the Proteft, and keep the Bill. 3. The Pofleffor of a Bill protefted for Non- acceptance, which is- not payable to himfelf, nor endorfed to him, but is payable to the Order of the Remitter or Drawer, Sfo muft only return the Proteft, and muft keep the Bill in his Poiieilion till Payment be demanded of him by the Party it is payable to, and to whom it is endorfed. 4. If the Proteft is not made in the Prefence of the Acceptant, he being abfent, not to be found, or not at Home j then the Proteft ought only to be returned, and the Bill muft be kept till the Day of Payment, or till further Order, that if the Ac- ceptant be found, he may demand Acceptance or him ; and in Cafe of Refuial, the Prudent's Way will be to make another formal Proteft againft the laid Acceptant. 5. When a Bill made payable to Order, that is, not lent to the Prefentcr by the firft Remitter, but by fonae other, is protefted for Non-acceptance, then the Prclcntcr doth act prudently, if the Bill be endorfed and '/raw !! in from other Places, if he not OfMoijejy freights, Meafures, &c. 5 i hot only fends the Proteft to the Party he received the Bill from, but alfo gives advice directly to the firft Remitter of the Non-acceptance. 6. The Remitter is obliged, as foon as he re- ceives advice of a Bill being protefted, to give advice thereof to the Drawer. 7. A Drawer or Endorfer of a Bill is obliged, as foon as a Proteft is (hewn to him, either with or without the Bill, to give fufficient Security for the Payment thereof at the Time and Place ap- pointed, or elfe for the firft Sum, Charges, and Re-exchange, in cafe it be not fatisried there. 8. When a Bill hath yet fo much Time (re- maining before the Day of Payment) that the Drawer or Endorfer can order the Payment at the appointed Place and Day, then the Remitter is obliged (having got Security) to return the Bill and Proteft to the Place where the Payment is to be made; to demand Payment of the Acceptant ; and if he procures Payment, then the Poftage and Charges muft be demanded of him ; and if he procures neither of them, Proteft muft then be made for Non-payment, and then the Drawer is obliged to fatisfy the Re-exchange and Charges. 9. When a Bill is protefted for Non-acceptance, that is drawn at a long Time, and the Drawer hath given the Remitter fufficient Security ; then the Drawer is not obliged to caufe his Bill to be ac- cepted by the Acceptant, nor by any other ; for the Security for Acceptance is looked upon as if it were accepted. 10. The Drawer or Endorfer give fufficient Se- curity, if they give other Bills to the Remitter (payable to his Order, for the fame Sum, and due E 2 a£ 52. Ha yes\t Negotiator s Mi igazine at the fame Time) that are drawn or endorfed by any Merchant that frequents the Exchange, and is by all Men accounted fufficient. 1 1 . The Remitter is not obliged to take fuch Biils, unlefs the Drawer promifes to pay the Charges and Poftage of the Proteft, and if not all, yet at leaft half Provifion for this new Trouble of the Correfpondent, and demanding Acceptance ; but if the Drawer appoints any other, at the Time and Place of Payment, to fatisfy his Bill fupra Proteft, and in the interim gives fufficient Security, then he need not allow any Provifion at all, but only the Charges of Proteft and Poftaee. 12. The Drawer or Endorfer of a Bill protefted for Non-acceptance, muft be very cautious in giv- ing the Remitter or Prefenter of the Bill any o- ther Bills, without the re-delivery of the firft Bill and the Proteft 5 or that the Remitter give fuffi- cient Security for the Reftitution thereof, or of the Value, in cafe the laid Bill mould be fitisried. 13. The Remitter is not obliged, nor is it in- deed advifeable for him to enter into fuch an Obli- gation, becaufe the Drawer is obliged to procure Acceptance and Payment of his Bills by the Ac- ceptant, or by fome other; and the other Bills are but only the Remitter's Security, which may alio contain fuch a Claufe and Condition, that the Payment thereof flrall only be made for the Value of the Bills protefted fur Non-acceptance, and were not fupra Proteft accepted. 14. When a Bill with the Proteft is prefented to the Drawer, and theft two can agree for the Re-exchange ; then he may freely and fafely dif- tflmil the Contract with the Remitter, and fatisfy him Of Mo my j freights, Meafures^ &c. 5 $ him upon the Delivery of the firft Bills with Pro- ten:. 15. When a Bill is returned with Proteft for Non-acceptance, though there be yet a fufficient Time for ordering the Payment, according to the Tenor of the Bills, yet if the Remitter and Drawer agrees to make the Bills and Contracts void, then the Re-exchange mould be equally adjufted, and that mould be reckoned at the Price that the beft Bills on Exchange were negociated at, payable at the fame Time ; and over above this, the Remit- ter muft demand half Provifion at leaft, and Bro- kerage, together with the Charges of Proteft and Poftage. N. B. It were neceflary, to prevent Difputes and Contentions, that a certain Rule and Method were ordered for the regulating the Price of Re- exchanges, when there is Occafion for it. 16. When the Drawer and Remitter cannot agree about the Courfe of the Re-exchange, and the Drawer or Endorfer will not give any Security for the fame, but pay in Monies inftantly ; then it is fufficient for the Drawer to return to the Re- mitter the Value of the Bills that he received, and not pay the Exchange, till the Day of Payment comes, and they get Advice at what Price at Sight, the Bills were made that Poft or the next, and accordingly the Drawer is obliged to pay the Remitter, how much higher or lower foever it be, and the Remitter is obliged to be fatisfied with it ; but then in cafe the Remitter will neither at firft, at the Payment of the Value to him, nor at laft, ' at the Payment of the Re-exchange, part with the Bills and Proteft, the Drawer may detain his E 3 Monies 54 HayesV NegociatorJ Majrazit/e. Monies till he give Security for the Reititution thereof. 17. If all the Bills be not to be had, the Drawer muft be very circumfpect in his making the Con- tract void, and mull: not pay any Monies but upon futricient Caution for the Re-delivery of the Bills and P-oteft, and for all the Damage and Lois that may accrue thereby. 1 3. When the Time of Payment is lb near, that the Drawer or Endorfer cannot give other Or- ders for the Payment of the Bills at the Time and Place appointed, theft the Pofleflbr or Remitter of the Bill is obliged, upon Aifficknt Caution and Security offered to him for Re-exchange and Charges, vhs. to wait till the Day of Payment, and till the Courfe be known from the Place where the firft P-.vment fhould have been made. 19, Though an Endorfer hat!) iatished his Re- miner for the Re-exchange and Charges of a non- accepted protefted Bill, yet the Drawer, or an ear- lier Endorfer, is not obliged to do the fame, but inay iniift upon giving Security in Maimer and Form as is above mentioned. S E c t. VIIL Of the Tunc of P axing Bills. 1 . ' I * 1 1 E Time of paying of Bps is ufuaDy I agreed upon between the Drawer and Remitter, fometinles on a certain and fixed Day, \ D inej at fo many Sight, fometimes at lb many Days, Weeks or Months alter the Date, fometimes Of Money ) TFeights, Meafuresy &c. 5 5 lometimes at Ufance, half Ufance, Ufance and half, double and treble Ufance. 2. A Bill payable at a certain Day, is understood to be payable on that fame Day when it comes, according to the Stile and Place where the Pay- ment is to be made. So that a Bill made at Am- Jierdam, payable at London on the kft of November y muft be paid on the laft of November, Old Stile, or the Stile of London and on the contrary, a Bill drawn at London, payable at Amfterdam the laft of November, is payable at Amfterdam on the laft of November, New Stile, or their Stile. 3. If a Bill be made payable at fome Weeks after Sight, or Date, then the Weeks muft firft be reduced into Days, and feven Days muft be rec- kon'd for a Week • and in counting the Days, the Almanack muft be followed, taking the firft Day after the Sight, or Date, for the firft Day ; and fo forward, one Day after another, without excluding either Sundays or Holy Days, and the laft Day is the Day of Payment, whether in the beginning, in the end, or middle of the Week. 4. If a Bill be made payable one Month or two after Date, or after Sight, then the Day of Pay- ment falls on the fame Day of the following Month, &c. that the Bill was prefented or dated ; and if the Month the Bill is to be paid in, hath not fo many Days as the Month the Bill was dated or fhewn in, then the Day of Payment falls on the laft Day of the Month. As for Example : A Bill is dated the 7 th of January, and is payable a Month after Date, this Bill is payable on the 7 th of February , again, a Bill dated the 30th of Ja- nuary is payable one Month after Date, this Bill is E 4 payable k 6 Ha yes'j Negotiators Magazine payable on the 2Sth or 29th of February , being the laft Day of the Month. 5. If a Bill dated the 28th of February \ payable at Ufance, or one Month after Date, and is prefented on the 28 th of February for Acceptance, then it falls due on the 2Sth of March \ but if be dated ultimo February then it is not due till the ultimo March ; and fo in June and Juh, the one having thirty Days, the other thirty one ; and this the Acceptor may alter if he pleafes, if for the 30th of June he writes ultimo, it will not be due till ultimo July. 6. The circumfpecl Remitter in negociating will have a Regard to the Time, and take his Meafures accordingly, and keep his Monies till fuch Time as he knows there will be great Occaiion for it at the Place where he is, or remit to fuch a Place to be remitted back again; fo alfo a Drawer muft ob- ferve to take fuch an Opportunity to draw in his Monies, when he knows there is Money enough ftirring -y for Scarcity of Bills will advance, as the contrary lowers, the Price of Bills of Exchange to any Place. 7. When any Difference arifes betwixt the Pol- feflbr and Acceptor of a Bill about calculating the Time of Payment, that is to fay, the precife Day that the Poffeifor will demand Payment according to his own Reckoning ; and if on the lait Day's Refpite he procure not the Payment, he fhould and may prbtcft, and fend the fame away j but he mull keep the Bill till the Day of Payment accord- ing to the Acceptor's Reckoning ; and then if he does not get his Money, he mull make a new Protcft. 8. Bills Of Money , Freights, Meajiires> &c. 5 7 8. Bills made payable at two or three Days after Sight, or at Sight, fhould not have the Privilege of the Days of Grace, efpecially if they be five or fix or more Days, but fhould be paid within twenty- four Hours after they fall due, or be protefted; becaufe the Reafon that Bills are made payable at fuch fhort Sight is, becaufe the Remitter hath pre- fent Occafion for his Money 3 but this is not al- ways regarded ; the Days of Grace being often claimed here upon Inland Bills, although a Bill fliall be drawn at Sight, or at a certain Number of Days after Sight. 9. To reckon the precife Time of the Payment of any Bill, payable at any Time after Date, it is neceifary to obferve the Difference of the Old and New Stile, if the Places from whence it is drawn, and on which it is drawn, obferve a different Stile ; for better Information herein, the following Places obferve the New Stile : Anijlerdam, Rotterdam , Antwerp , Haerlem, Mid- dleburg, Ghent \ Brujfels, Brabant, and moil of the Netherlands. Paris, Lions, Bourdeaux, and all France 5 Lijbon, Oporto, and all Portugal ; Madrid, Cadiz, Bilboa, and all Spain ; Leghorn, Venice, Genoa, and all Italy. Alfo in Germany, all the Popifh Electorates and Principalities Augsburgh, Dantzick, and all Po-? land. And the following obferve the Old Stile, being eleven Days after the other : Great Britain, Ireland, and all the Proteftant Electorates and Principalities in Germany, all Den- niark, 58 Ha YES / Negotiators Magazine mark, Embden, the Proteftant Cantons of Switzer- land, Hamburgh, Raft Fri [eland, Geneva, all Sweden, Holftein, Lubeck, Stratzburgh, all Saxony, Riga and Leipfick, &c. 10. To call up the Time that a Bill falls due on ; as for In fiance, Anifterdam draws a Bill upon Lon- don, payable at Uiance, dated the 2d of March. Here it muft be confidered, that the Uiance or Month will expire on the 2d of April, O. S. and becaufe they reckon their Time by New Stile, or eleven Days before us in London, therefore take eleven Days from the 2d of April, and the Re- mainder is the 22d of March ; to which add three Days of Grace, according to the Cuftom in Lcndon, and the Sum is the 26th of March ; on which Day, before the Sun goes down, the Bill is due, and payable in London. However, for the finding out the Days that Bills of Exchange may foil due, I will in the following Pages prefent you with a Table for the more ready Calculating of Time be- tween Old and Nnv Stile. 4 TABLE Of Money, Weights^ Meafuresy &c. 5 9 A TABLE whereby tofnd the jufi Date of Bills of Exchange from New Stile to Old Stile, and the contrary ^ for ever. The fame explained. In the firft Column, under the Title of New Stile, I do begin with the Month of JamiarA from the i " - Day to the 3 1 : Day, and fo continue the Table under New Stile, beginning each Co- lumn with the next fuccefiive Month, until the Calendar is finimed, which is the twelve Months in the Year; and in the other Column, under Old Stile, you mav find the Days according to our Reckoning in England, which correipond with thole of New Stile. The Ufe of the fame. Suppofe a Bill comes to hand from Amjlerdam^ dated the of January, New Stile-, look in the following Table for the 4th of January, in the Co- lumn under New Stile j then to know what Day that is in England, look for the correfpondent Date under Old Stile, and you will find the 24 h of De- cember, which is the Day in our Reckoning in England, that falls out to be the 4:h of January in their Reckoning at Amjlerdanu A Table 6 o Ha yes V Negotiator j Magazine A Table for any Year (except Leap Year) : Whereby to find out the juff Bate of Bills of Exchange* from New Stile to Old Stile, for ever. N.Sole. Jan. on > O. Sale. I N.Sole. I 2 I F^ I o 0 z. Q D 1 2 2 A i OA f 0 25 6 26 6 7 27 7 8 28 8 Q y 2Q 0 y 1 o 1 VJ 3° T O T T 1 1 T /111 J O T 3 1 T T 1 1 1 Z T 1 T I 1 _ I 2 2 I 2 T /I A4 0 I < T r" *5 4 1 U JO w CO 16 T *7 V 1 / 1 o I Q ly 0 —1 / 8 2 T 8 l O I Q 7 y 20 £ I 1 u 2 T 22 1 1 22 23 12 23 24 J3 24 2^ J4 25 26 *5 26 27 16 27 28 *7 28 29 [8 30 *9 O T J 1 20 FA O.Saie. Jan. 2i 22 23 24 25 26 27 28 29 30 3i 1 2 3 4 5 6 7 8 9 10 1 1 1 2 *3 H 15 16 17 x N. Sale. Mar. 1 2 3 4 r D 6 7 8 9 10 1 1 12 i3 14 I 16 17 18 19 20 2 1 22 23 24 25 26 27 28 29 30 2 1 2 a bale. R*. iS 19 20 2 1 22 23 24 25 26 27 28 1 2 9 :> 4 6 7 8 9 10 1 2 "3 H iS 16 ■7 18 *9 20 A Table Of Money, freights, Meafures, &c A Table for any Year (except Leap Year) : 6r N. Stile. April O. Stile. IN. Stile. M CO >■ i 2 3 4 5 6 7 8 9 io 1 1 12 13 14 *5 16 *7 18 J9 20 21 22 23 24 25 26 27 28 29 30 M?r. 2 1 22 23 24 25 26 May CO no o 27 28 29 30 3i 1 2 3 4 5 6 7 8 9 10 1 1 12 13 14 15 16 *7 18 19 CO u I 2 3 4 5 6 7 8 9 10 1 1 12 J3 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 3° 31 O. Stile. April 20 21 22 23 24 25 26 27 28 4— > CO p— — I o 29 3° 1 4 5 6 7 8 9 10 1 1 12 13 14 *5 16 18 l9 for N. Stile. O. Stile. June 1 May 2 I 2 22 2 0 23 4 24: 2 £ 1 6 26 7 27 8 28 Q 29 10 3°. 1 j 12 7une 1 I 2 2 T /I A4 jS 3 4- CO 16 co I 7 «T"l 6 18 O 7 !9 8 20 9 21 1 L/ 22 I I 23 12 24 J3 25 *4 26 *5 27 16 28 *7 29 18 3C 19 A Table, 6 2 Ha YES V Negociators Magazine A Table for any Year (;xcept L.ap Year) : Whereby to find out the jus! Bate of Bills of Exchange, from New Stile to Old StiUt for ever. l\ Stile. O. Stile. N.SuJe. O. Sti . N.Sciic O. Stile. July i June 20 /% 1 July 21 I 21 2 2 1 2 22 2 22 2 D 2 2 3 23 3 23 A *T 2 ? 4 24 4 24 r 5 z. -i. 5 25 5 25 f> \j 6 26 6 26 7 26 7 27 7 27 8 27 8 28 8 28 Q 28 9 29 9 29 I o 2Q 10 30 10 3° i j 1 1 31 1 1 31 I 2 J* /y 1 ✓ 12 Aug. 1 12 Sept. 1 I 3 J) 2 *3 2 *3 2 T A x4 3 14 3 x4 3 15 4 u l5 4 J5 jJ 4 • ■— i *-> 16 c7) 16 \& 16 —1 5 CO 1 7 *7 6 -0 17 -a 6 1 8 > 18 0 7 QJ 18 O 7 I Q 8 J9 8 2 *9 8 20 9 20 9 20 9 21 10 21 10 21 10 2 2 1 1 22 1 1 2 2 2j 23 1 1 23 1 2 24 24 24 T t 1 J> 25 25 j - AD 14 26 26 1 5 20 1 g 27 1 1 27 16 27 16 28 28 28 17 29 . t 29 1 8 29 18 3° 30 3° 3 1 31 20 A l ABLB Of Money ^ freights, Me a fares ^ &c. 6 3 A Table for any Year (except Leap Year) : Whereby to find out the juft Bate of Bills of Exchange* from New Stile to Old Stile for ever. N. Stile. O. Stile. N. Stile. O. Stile. N. Stile. O. Stile. Oft. I 20 Nov. 1 Oft. 2 I Dec. 1 ftfou. 20 2 2 1 2 22 2 2 I g 22 23 a 22 4 23 4 24 4 2 5 24 2^ c D 24 6 6 26 f> \j 7 26 7 27 7 26 8 27 8 28 8 27 9 28 9 29 Q 28 10 29 10 3° 10 z9 1 1 20 D 1 1 D I 1 3° 12 ( I 1 2 Nov. I I 2 Dec. 1 J3 2 J3 2 2 14 3 14 3 14 3 u JO 4 r 1 ^ 4 I £ 4 16 jj -j • 16 « l6 5 0 co 17 co 6 co 1 7 CO 6 I 7 • — < CO iS *d 7 18 7 > to l8 73 7 J9 O 8 1 l9 0 8 f- — i IQ O c ■O 20 9 20 9 20 9 21 10 2 I 10 2 I 10 22 1 1 2 2 I I 22 1 1 23 12 23 12 23 12 24 J3 24 13 24 13 25 I4 25 14 25 14 26 J5 26 26 15 27 16 27 l6 27 16 28 ll 28 *7 28 *7 29 18 29 18 29 18 30 *9 30 J9 30 l9 31 20 31 20 A Table 64 HAYES j Negociatoi • / Magazine A Table for Leap Years : I thereby to find cut the jufi Date of Bills of Exchange , from New Stile to Old Stile, for ever. N. Stile. O. Suile. N. Srile. O. Stile. N. Stile. O. Stile. Jan. 1 2 I Feb. 1 "7 an 2 1 Afir. 1 Feb 2 2 2 2 22 2 20 2 3 0 22 2 1 4 • 24 A. T 24 4 22 c D 2 £ r 2£ 5 23 O 2 0 O z u 0 H 7 0 n z7 7 2 7 7 8 28 8 28 8 26 9 29 9 29 9 27 10 30 10 3° 10 28 1 1 3i 1 1 3i 1 1 29 12 Jan. 1 1 2 !%*. 1 1 2 Mar. 1 13 2 13 2 13 2 14 3 H 3 14 9 J 1 5 4 15 4 r5 4 16 _J 10 5 ib jJ 5 co 1 7 •«— ' CO 6 CO 17 CO 6 CO l7 co 6 New 18 19 20 2 1 22 23 24 25 2t 27 28 29 3° PS 7 8 9 10 1 1 1 2 13 14 1 i 16 i7 18 J9 20 18 *9 20 2 1 ■> ~> 23 --t 25 26 27 28 29 Old 7 8 9 10 1 1 1 2 13 14 1 5 16 l7 18 iS '9 20 2 I 2 2 23 24 2£ 26 27 28 29 30 31 Old *- 7 8 9 10 1 1 12 *3 ■4 *5 16 l7 18 H A Table Of Money y Weights, Mcafures, &c. 6 5 A Table for Leap Years : U r 'hereby to find out the juff Bate of Bills of Exchange 9 from New Sriie to Old Stile, for ever. X. Stile. O. Stile. N. Stile. O. Stile. N. Stile. IO. Stile. April 1 Mar. 2 1 May I April 20 June 1 2 I 2 22 2 2 I 2 22 2. D 23 3 2 2 0 5 4 24 4 9 2 4 24 c D 2 5 5 24 D 25 6 26 6 25 6 26 7 8 27 7 26 7 27 28 8 27 8 28 Q y 29 9 y 28 Q y 29 y 10 3° 10 z9 20 T T Z 1 kjc yt . J Z 1 2 2 1 2 2 2 2 2 2 0 D 2 2 2 2 2 1 2 2 A T 23 T 2 J. -4 -r r D 24 5 r> 2 " z -» u 25 0 2 0 2 O 1 2 D 7 2/ 7 27 8 27 8 28 8 28 Q ? 2 0 Q y 2Q zy 2Q I 0 29 1 0 20 I 0 20 7 T 1 I 3° T T I 1 0 T :? I 1 z. 1 T 1 1 Z /lug. j I 2 I 2 I 3 2 I 1 D 2 I A. 3 I _< 9 14- 2 D M 4 T " 1 D 4 O I c I) I o '.0 5 *-> T £ I 0 +3 5 1 U Q r 5 T T 1 7 6 oq 1 7 6 I 7 6 > u 1 o 7 > T R 1 0 7 u l8 - / I Q 0 0 I Q 8 I Q 8 20 Q 7 20 Q y 20 Q y 21 IO 2 I IO 2 I 10 22 I 1 22 1 1 22 1 1 23 12 23 I 2 23 1 : 24 13 ^4 J3 24 13 14 25 14 25 14 26 15 26 15 26 *5 27 l6 27 16 27 16 28 «7 28 K 28 "7 29 18 29 18 29 18 3° 19 3° ■9 30 19 31 20 31 20 A Table OfMovej Weights, MeajwreSy &c 6 7 A Table for Leap Years: tVhereby to find out the jujl Bate of Bills of Exchange, from New Stile to Old Stile, for ever. N. Stile.; O. Stile. M C IN . 0 .ue. O. Stile. N Stile. O. Stile, j Ocl, 1 Sep. 20 . 1 Oct. 21 \ C V . 20 2 2 1 2 22 2 2 1 3 2 2 3 23 3 2 2 4 23 4 24 4 23 5 24 5 25 5 24 6 25 6 26 6 25 7 8 /-- 26 27 7 8 27 28 7 8 26 27 9 2o 9 29 9 2 0 1 0 29 1 0 3° 10 29 1 1 30 1 1 31 1 1 30 i 2 Ucl. I 1 2 Nov. 1 12 Dec. 1 J3 2 13 2 13 2 14 3 3 14 3 4 qJ> *5 4 gjj 1 5 4 •3 16 jj 5 16 u 5 16 5 co * 'I CO 6 co J7 CO 6 CO 17 CO 6 O 7 0 0 > > z 18 19 7 0 0 New 18 19 O 7 8 20 9 20 9 20 9 2 1 10 2 1 10 2 1 10 22 1 1 22 1 1 22 1 1 23 12 23 12 23 12 24 13 24 13 24 13 25 14 25 14 25 14 26 *5 26 15 26 J5 27 16 27 16 2/ 16 28 17 28 J7 28 17 29 18 29 18 29 18 30 *9 30 l9 30 19 L 31 20 31 20 Sect, 68 Ha ye ss Negotiator's Magazine S e c t. IX. Of Ufurers Exchange, commonly called Dry Exchange. I . ]\ /TErchants Exchanges do properly confift in J[ V A giving Monies in one Place, to receive the Value at a certain Price agreed on in another. And Ufurers Exchange does alio confift in giving at one Place, but their Repayment is to be made after a certain Time in the fame Place, and a cer- tain Sum over, which is ufually more than the common Intereft fo that the Dirtance of Place, where the Money is firft paid, from where it is to be repaid, is the fubftantial, or eflential Part of the firft Exchange ; but this being wanted in the laft Way, it is therefore by fome called Dry Ex- change. 2. In Dry Exchange, fometimes the Sum to be repaid for the Sum receiv'd is fix'd, determined, or certain, and ibmctimes uncertain and acci- dental. 3. When the Sum to be repaid is fixed and certain, the Lender or Deliverer hath a certain fix'd Profit or Advance, which is contrary to the Nature of real Exchange, and therefore this may more properly be called Ufurers Exchange, becauie by this means a Man may with more Security op- prefs his Debtor : and he that practices this Way, mull: certainly do it for fome of the following Reasons : That is to fay, Either for Securing a Re- payment of his Money in clue Time, or for to get a good Intereft for his Money, and to have Secu- rity Of Money, fFaghts, Meajt/Ptit, &c. 6 9 nty for his Debt, or he mull do it to drive on an unlawful Trade for unlawful Ufury. 4. He that diipofeth of his Money in this Way can at his Pleafure be Matter of his Money again, if the Bill be made payable to himfelf, or Order ; for then he can at any Time negociate, and draw in the faid Bill with Reputation, and Credit, and can let it be drawn in from any other Place, which he cannot do with any other Obligation. 5. An Ufurer has alfo this Advantage by fuch Bill of Exchange, becaufe that only the Sum to be paid is mentioned in the Bill, but not the Sum bor- rowed, fo that it cannot be known what Intereft fuch a Perfon receives. 6. And the Manner of lending Money in this Way is thus : A. goes to a Banker to borrow One hundred Pounds at Intereft for a certain Time, the Banker feems unwilling to lend it him at Intereft, but offers him the Sum by Exchange to Amjler- dam, whereunto they agree ; but A. having no Correfpondent there, the Banker bids him make his Bills of Exchange for fo much Money, at dou- ble or treble Ufance, to any imaginary Perfon, at the Price of Exchange it then goes at, with which the Party accordingly agrees. Now the Time be- ing run out, there comes a Proteft from Awfter- dam for Non-payment, with the Exchange of the Money from Amjierdam to London ; all which with Cofts (befides a Deduction it may be at the mak- ing of the Bargain) A. muft repay to the Banker in London for the Money he ihall fo borrow. 7. And another Way they have of feigning an. Exchange, which is thus : A Perfon owes to a Banker fome Money, and it not fuiting his Con- F 3 venience Jo Ha YES9s Negotiators Magazine venience to pay the fame prefently, does therefore delire Time. The Banker accordingly grants it him, provided he will be bound to pay his Money at the Time in Hamburgh by Exchange ; and it is further agreed between them, if it fhall be paid at the Time in London, the Party fhall be free, or other wife he fhall ftand bound as before. In the Interim the Banker writes to his Friend in Ham- burgh for the like Sum, feigning that he oweth him there. After the Time is expired comes a Bill of Exchange from Hamburgh, to pay here fo much as he owed there with the Re-exchange and Charges, all which the Banker puts to the Party's Account ; and by this Agreement the Banker can oblige the Party to pay, in Cafe he does not pay him in London at the Time agreed upon. 8. The Value agreed upon to be repaid is un- certain and accidental, when in their bargaining they agree concerning the Price to fuch or fuch a Place and Fair ; but the Drawer is obliged to pay his Monies in the Place where he received it, and at fuch a Price as fhall be at the Time of Payment between the place where the Money is taken up and to be repaid again, and the Place where the Bill is directed to. As for Example : 9. yl. oiAmficrdam lends 1000 Florins on Frank- fort Fair, with Condition that the laid Sum (hall not be paid at Frankfort, but at the Return of the Fair at Amjicrdam, at the Price the Exchange fhall go at, between the laid Fair and Amjicrdam, at the Time when the Repayment of the above Sum is to be made. And this Sort of Exchange is very frequent and common in Italy, though con- demned by the Papifts as unlawful, and a finful Way Of Money, Weights, Meafnres, &c. 7 1 Way of gaining Monies upon Monies, or giving Monies upon Intereft, or for having a certain Pro- fit for the Loan or Exchange of Monies: however all Mankind muft allow, that thefe Practices are lawful and juft, fo far as they are grounded upon a true commutative Juftice, fuch as cannot be charged with Extortion. Sect. X. Of Conditional Exchanges, or Bills on Bottomry. i.TN fuch Bills as thefe the Drawer doth not JL abfolutely oblige himfelf to Payment, but on a certain Condition agreed upon. N. B. Various Sorts of Agreements are invalid, according to the Laws of England, unlefs they be made and drawn out upon ftampt Paper, Signed, Sealed, a?id Witnefed by two, or more Witnefjes. 2. And in thefe Bills the Conditions muft be clearly expreffed, on which Condition the Ac- ceptant muft accept and pay, or elfe he muft re- fufe, if the Conditions are not clearly fet forth, thefe kind of Bills being very liable to great Difputes and Contefts. 3. The Acceptance of a Conditional Bill obligeth the Acceptor, whether he be the Drawer himfelf, or any other, to an abfolute Payment, if the Condition it is agreed upon be abfolutely perform- ed, or if the PofTelTor himfelf will oblige himfelf to the Performance thereof. 4. The PofTefTor of fuch Bills is fometimes ob- liged to perform the Conditions, and fometimes he F 4 i> 7 % Ha y B s It Negociator's Magazine is not, for thofe Exchanges which are grounded upon unlawful, impoflible, or indecent Conditions, are of thcmfelves null and void. 5. When the Poffeffor is abfolutely obliged to perform the Conditions, it is not enough for him to mortify, or to endeavour to deftroy the Bill by not demanding Payment thereof; but he is obliged to make good to the Acceptor the Lofs and Intc- reft that the Acceptor or any Party concerned there- in is likely to fuffer for Non-acceptance of the Condition. 6. The Poffeflbr of a conditional Bill is not ab- folutely obliged, if any thing fhould happen that may hinder him from performing the Condition, without his being the Caufe whereof, the Drawer or Acceptor is obliged to pay the Bill, if the Pof- feflbr will but make good the Lofs to the Ac- ceptor or Drawer. As for Example : A lives at Amjlerdam and contracts with By living in Venice, that A {hall provide him with a Pack of Says, which Pack the faid A {hall buv for the Account of J5, at the loweil Price, but he {hall fend them to Venice on his own (or s) Rifque, and {hall have for his Provilion 2 per Cent, for the Difburfe of his Monies, and for his Rifque 15 per Cent, but B (hall be obliged to pay the Coll and Charges on the whole, eight Days after the Arrival of the faid Pack of Says at Venice ; this is all agreed upon and done, the Pack is ihipp'd off, and the Account is lent ; and A at the fame Time values himfelf upon B for the whole, and makes his Bill as follows : Amjlerdavij Of Money, Weights, Meafures, &c. 7 3 Amjlerdam, October 19 — at per Ducat. Eight Days after the Arrival of the Pack, N°. as in the Margin, at Venice, pay upon good Delivery for the Value of the fame unto C. D. the Sum of Ducats, Adieu. E F To Mr. B. in ra/a?. Now when B. accepts the Bill, he is then obliged upon the Delivery of the Pack, to pay the Sum of the abovenamed Ducats to C. D. who is named in the Bill, though the Says fhould fall con- siderable in the Price before that Time. But if the Says be loft at Sea, and fo never arrive at Ve- nice, then the Acceptance will be null and void, and the Bill will be mortified or deftroyed. But if they be only damaged, and do arrive at Venice, B* is obliged to take them, and to pay the accepted Bill ; but then he muft deduct fo much from the Value, as an impartial Judge fhall think the Da- mage will amount to, becaufe that A. is to be herein confidered as the Infurer. 7. Among Conditional Bills, Bills of Bottomry may be reckoned ; that is to fay, Bills made upon the Keel of a Ship, which may properly be called Accidental Conditional Bills, they depending en- tirely upon the Power of Providence to give a Ship, a profperous Voyage. 8. The Bottomry Bills that are ufually made at Smyrna, and other Places in the Levant, the Ship- per acknowledges therein the Receipt of fuch Goods from A. to deliver the fame, upon fafe Arrival, to R0 and that the faid Goods are incumbred with a Debt of loop Rials, upon Bottomry at fo much per f/4 H a y e s 9 j Negotiator* s Magazine Cent, the Value received of C. payable ten Days after the Arrival of the Ship. To D. for his own Account, 300 Rials, To E. for Account of F. 300 Rials. To G. for Account of 400 Rials. This being underwrit by the Shipper, is as much as a Conditional Bill, which if B. accepts, he is obliged to make good and pay the fame, and may receive the Goods, paying the Captain or Shipper his Freight and Avaridge ; or if the Goods be damaged, then the Sum of the Damage, and of the extraordinary Avaridge, muft be deducted from the Sums that D. E. and G. are to receive, they being as Infurers. 9. The Party to whom Goods that are incum- bred with Bottomry are dire&ed to, is no more obliged to accept a Bottomry Bill, than an Accep- tant is obliged to accept another's Bill drawn upon him ; but when either of them are accepted, the Acceptor is obliged, according to the Law of Ex- change, to make punctual Payment at the Time appointed. 10. But if the Party to whom luch Goods bur- thened with Bottomry are addreiTed, ihould refuie to accept the Bottomry Bills, then the PoiTeiTor of the Bill is obliged to make Proteit for Non-accep- tance, and then he mult get authorifed to receive and fell the Goods, and to difpofe of them to the belt. Advantage ; or that they may be put into the Hands of another to difpofe of the fame, that out of the Produce of the Goods the Value of the Bottomry Bill may be latisfied ; but the Party mull: be careful in acting in thefe Matters^ that it may be done Of Money } Weights, Meafures, &c. J 5 done by proper Authority, noj muft they without fuch Authority admit any other to honour the Bill, or to receive the Goods to difpofe of at their Plea- fure. 1 1 . When this is done by the Authority of a proper Magiftrate, as abovefaid, if the Produce of the Goods amounts to more than is neceffary to difcharge the Bottomry Bill, the Overplus may re- main in the faid Party's Hands that difpofes of the Goods, or be put into the Hands of a proper Ma- giftrate, for the Ufe of the proper Owner of the Goods. But if the Produce of the Goods fhall fall ihort of the Value of the Bottomry Bill, the Pof- feffor of the faid Bill can have no Redrefs from the Party the Goods wasfent to, nor from the Owner thereof, nor from the Factor or Loader of the Goods, nor from the Drawer or Receiver of the Monies paid upon Bottomry, unlefs he has by a fpecial Contract obliged himfelf thereunto. 12. Among Conditional Exchanges may be rec- koned thofe Bills that are given upon account of any Wager made, or for AlTurance of Things that are yet but in Dubio, or Doubt. 13. Bills made upon account of a Wager, &c. are either fingle, or reciprocal, or mutual. 14. A fingle Bill is when one gives Monies, •and the other receives it at the fame Time, and the former accepts a formal Bill of Exchange for the Payment of a greater Sum than he pays, to be paid at the Day of Marriage, or at the Surren- der of fuch a befieged City, or at any other un- certain and dubious Event. 15. In cafe of Wagers, if Monies be not given by one> and received by the other, the Law allows nq 7 6 Ha ye s V Negotiator's Magazine no Advantage again ft him that gives the Bill \ but if he has received the Money, then he is obliged to repay the fame with Interclt, and no more. 1 6. But Conditional Exchanges for Aflurances are twofold, the one tending to the Security of the Drawer and Remitter, and fome are for the Secu- rity of the Poffeflbr. 17. Thofe which are for the Security of the Drawer and Remitter, are fuch Bills as an Out- dweller makes, or caufes to be made for the dis- charging of other Bills by him accepted, which muft be paid in another Place, or fuch Bills as any Man makes when he has timely Notice to pay thofe which he may have out, under Proteft for Non-acceptance or Non-payment. 18. Conditional Exchanges for the Security of the PoffeiTor, are either fuch as are for the Secu- rity of the Repayment of a Sum of Money, and are made after the following Manner : London ^ J 'ai man 11th. — Seven Days after the producing of an Acquit- tance from E. whereby he doth acknowledge to have received bf D. of Ainjicrdam 1000 Gilders, I promHe and oblige myfelf to pay to D. for the Value of the lame Sum A. R. 19. Or clfc for requitting fome Favour and Ser- vice done, then the Bill may be made as follows : One Month after the Day of my Marriage, or have obtained fuch a Law-fuit, or after I have been made an Alderman of London, I promife and oblige myfelf to pay to A, the Sum of Value received January ij— T. B. 20. When Of Money, JVeights, Meafures, &c. 77 20. When a Conditional Bill is not accepted, or if it be accepted, not paid ; then the Poffeffor may proteft, and feek his Redrefs and the Recovery of his Lois from the Drawer. 2 1 . In the Proteft of a Conditional Bill, whe- ther for Non-acceptance or Non-payment, the Poffeffor muft look to it and obferve, that he in- fer ts and proves that the Condition was performed, or elfe that he was ready and willing to perform the fame, or elfe the Proteft is of no Value. 22. In cafe the Poffeffor of a Conditional Bill, who is abfolutely obliged to the Performance of the Condition, would mortify the Sum, or deftroy the Bill by not demanding Payment, or by not performing the Condition ; in fuch Cafe, the Ac- ceptor may compel him thereto, by depofiting the Money, and protefting againft the Poffeffor for Non-performance of the Condition, and for all Damages, and prefently thereupon proceed againft him according to Law, and the Cuftom of Ex- changes ; and the Reafon is, becaufe he the Pof- feffor would have done fo againft the Acceptor, if he had proved tardy. 23. If a Condition, whereon an Exchange Con- tract is grounded, were once pofiible to be done, and the Poffeffor is bound to perform it, and he neglects it ; or after the Remitter received the Bill from the Drawer, if the Remitter mould oblige himfelf to the Performance, and he mould neglect fo doing, and it mould afterwards be morally im- poffible for him to do the fame : In this they are both obliged to make good the Damages and Loffes fuftained by the other Parties concerned, at leaft, fo far as they can prove they have fuffered by it, becaufe ?8 Ha y ES V Xegoc/ators Magazine becaufe the Condition was the Caufe of the Con- tract Sec t. XI. Of paving Debts with Bills of Ex- change, \l TN a pure and real Exchange, a Drawer re- \^ ceives Money of the Remitter, and gives Bills of Exchange for the fame, wherein he pro- mifes himfelf, or by his Order, to pay the Value he received, according to the Conditions, in ready Money : But in this, which is called Mixed, or Debt Exchanges, the Drawer receives no Monies, but being a Debtor, he gives his Bills to his Credi- tor for the Payment of his Debt, and the Creditor does hereby become the Remitter or Negociator of the Bill. 2 . And there are other Bills made for the Reco- very of a Debt, or elfe to allure the Creditor of prccife Payment for the Goods that the Debtor hath bought for Time. 3. Whether the Debtor makes theie Bills pay- able by himfelf, or by any other Perfon \ or whe- ther the Debtor and Creditor agrees about the Price of the Exchange or not, the Debt doth change its Nature, and the Debtor that gives the Bill of Ex- change upon himfelf, or upon another, doth make himfelf liable to the Law of Exchange, and may, upon Failure of Payment, be profecuted accord- ingly. 4. It is very ncceflary in thefe Bills to exprefs whether the Value was paid in Monies, or in Goodsy Of Money, freights, Meafures, &c. 79 Goods, or if it is tending to the difcharging or leffening of his Debt; if the Drawer does but effectually receive the Value, the Bill Hands 5. He that gives a Bill for an old Debt, muff demand of his Creditor an Acquittance, wherein muft be acknowledged Satisfaction for fuch an old Debt, or for fuch Goods in fuch or fuch a Bill of Exchange received, or for fo much of the Debt as the Bill of Exchange reacheth to ; and in fuch a Cafe, the Creditor will demand a Note or Receit of the Value of fuch a Bill, either in an old Debt, or for Goods bought, either for the full Payment thereof, or for leffening the faid Debt. 6. When a Creditor hath received a Bill from his Debtor, or in part of his Debt (if his Debtor mould prove tardy) he muff by no means be per- fuaded by his Debtor to derogate the leaft from the ftrict Courfe and Law of Exchange, by pro- tefting, &c. nor grant him longer Time, unleft the Debtor doth give him under his own Hand that it mall be no Prejudice to him the faid Cre- ditor, and that him the faid Debtor muff alfo de- clare, that the faid Creditor mall have the Law in full Force againft him the faid Debtor, upon Fai- lure of the Payment of the fame, as if he had actually protefled in due Form and Courfe ; for without this the Debtor may difown fuch an Agree- ment or Requeft made to the Creditor, and in cafe he would not pay, he may fet his Creditor at de- fiance, as having neglected the Neceffaries to be done for Recovery of the Monies* 7. When a Creditor receives a Bill from his Debtor, by him drawn on another, in another Place, good So Hayes's Negotiators AL waztne Place, with Rcqucft to demand the lame, and in cafe of Payment to place it to his Account ; in this Cafe, the Creditor mull afk his Debtor, whe- ther he (hall draw or remit the Product, and he mull: alfo know of him by whom he ihall caufe Demand to be made, that in cafe of Lofs there may be no Difpute. 8. The Bills (that a Creditor makes himfelf upon his own Correfpondent, at the Requeft of a Debtor) when they cannot be paid at one Time, mull be reckoned Mixed, or Debt Exchanges. * 9. When it falls inconvenient for the Debtor to pay his Debt at due Time, if he defires longer Time, promifing Satisfaction, and if it fuits with the Convenience of the Creditor to wait a longer Time, then it is ufual, if the Creditor is fatisfied with the Sufficiency of his Debtor, to requeft of him to draw on his own Correfpondent for his Debtor's Account, with Order to revalue the lame at the Day of Payment. 10. If a Creditor draws for the Account of his Debtor, he ought to make thole Bills fingle and apart for the jult Sum that the Debtor mull pay ; or at leail, he ought to order his Correfpondent to keep an Account of fiich a fpecified Sum apart, and to revalue the fame ; this is done in order for the Debtor to know what Sum he is to pay for the Re-exchange. 11. And to diftinguiih the Account apart, the Creditor or Drawer ufually orders the Acceptor to draw on the Debtor with his Obligation, or upon himfelf for Account of the Debtor. 12. It is alfo ufual, for one Friend to pleafure another, to draw on his Correfpondent per Cento apart. Of Money y heights, Meafures, &e. 8 1 apart for a feparate Account, and to be kept apart, that the Friend may have the Ufe of the Money until the Time of the Payment of the Re- exchange. 13. In all Cafes the Acceptor looks upon the Di*awer, who nluft anfwer for the Draughts and Re-draughts ; but the Lofs by the Exchanges and Charges muft come to the Debtor's Account, or to his for whofe Pleafure the Bill was made, or for whofe Account the Bill is drawn. Sect. XII. Of Re '-exchange \ a?id Continuance of Exchange and Ik-exchange. 1. T) E-exchangej in its largell Acceptation, is J£v the Value of a drawn or remitted Sum, re-drawn, or re-remitted by the Payer of the Bill where it was directed to ; or otherwife it is re- Valuing from a Place where a Bill has been paid on the firft Drawer or Remitter of the fame. And a true and juft Re-exchange muft alfo exactly an- fwer the Value, or the juft Sum of that Bili where- of it is the Re-exchanee. 2. When any Perfon re- values Or re-draws in the aforefaid Manner to the juft Sum and Value that he paid, he muft add Provifion, Poftage, Gfa and all other Charges that are ufually reckoned ; and thefe Sums being added together is the juft Sum to be re-valued or re-drawn for. 3. In re- valuing, the Provifion muft be reckon- - cd for the Sum that is firft drawn, and Brokerage muft be on the Sum that is re-drawn or re-valued. G 4, lit 8 2 HayesV Negoc/ators Magazine 4. In remitting the juft Sum, both the Provi- lion and Brokerage muft be reckoned according to the faid remitted Sum to be remitted. 5. When a Factor remits, and re-values the juft Sum of the laid Remittance, and draws a certain Sum and remits the Value to another Place, he muft only reckon his Provifion for the Sum that he remits, and not of the Sum that he draws, but he muft reckon Brokerage upon both Par- cels. 6. The re-drawing need not be delayed until after the Draught is difcharged, but may freely, without Fear of Reproof, be re-drawn the Poft- Day before thofe Draughts fall due; for a Factor is not obliged, nor is it always convenient, to difburie his Monies, though but for a few Days. 7. Nor is it neceffary, nor can it be required of a Factor, to remit until the Remittances be re- ceived ; and if it mould be done fooner to pleafure the firft Remitter, it muft always be done under Proteft, that he may fuffer no Damage. 8. When the Factor hath by him the Advance of the Remittances which he has Orders to remit, he muft ftridtly obferve his Principal's Order ; and if he cannot come within the Limitation of the fame, he may delay remitting, and let the ad- vance Value lay by him undilpoled of, until he can get further Orders from his Principal. 9. When a Factor hath Occalion to re-draw for the Principal's Account, for Draughts firft drawn on him, he 19 not fo precilely bound to the Order of his Principal ; but he can and may re-draw, not only according to Order, and within his Li- mitS, but he may exceed the Limits, if he neither Of Money, Weights , Meafures, &c. 8 3 Will, nor can be in Difburfe for his Principal; and if he hath no Order, he may re-draw without Or- der, nay and even againft Order itfelf, if his Occa- lions mail require it. 10. Factors in re-drawing follow their Orders and obferve their Limits, when the Debtor for an accepted Bill, fupra Proteft, having ordered, or li- mited the Party, who is to dilcharge the Bill for his Account, how, and when to re-value if the Factor does accordingly, or to more and better Advantage than the Principal's Orders, or Limita- tions were. 1 1. But it is above Order, or Limitation, when the Factor re-draws on that Place and Perfon that his Principal orders, but at a more difadvantageous Price than he limited ; and the Principal in this Cafe, muft be patient and filent, though it be to his Lofs. 12. And it is without Order when the Principal and Debtor for the Bill did not, or could not make Provilion for the Difcharge of the Bill, and there-* fore gave no Order that the Factor mail be re- imburfed, whereupon the Factor draws on him, becaufe he cannot be in Difburfe* or will not, as thinking it unadvifable. 13. And it is againft Order when the Principal hath order'd, that the Factor {hall draw on ano- ther Place, or at a longer Time $ and being the Factor either could not, or would not draw ort fuch a Place or Perfon, nor at fo long a Time, he therefore draws on his Principal at Sights or at a fhorter Time than he order'd, or re-draws on fbme other Place or Perfoa where he can. 34, When" 84 HayesV Negotiators Magazine 14. When an Acceptant of a Bill will re-value without or againft Order, then it is moil: advifable and beft anfwerable that he re-draw upon the Debtor and Principal, rather than on any one elfe. 15. But in cafe the Principal, in any of the 9, 11, 12, 13 or 14 Cafes foregoing, will not accept of the Acceptant's re-drawn Bill upon him, be- caufe they are without, above, or againft his Or- ders : what fhall the Factor then do ; feeing with- out Acceptance there is no Obligation on any to pay a Bill of Exchange ; nor were the Factors fa wife as to iuffer the Bills to be protefted, which would have compelled the Drawer to have done as he had pleafed : So that the Factor has no other Remedv now left but the common one, and that is, to proceed againft his Principal's Action. 16. However, he that is Debtor for a Bill, is, and remains ftill Debtor for the Re-exchange, that his Factor draws on him, for the Difcount of his Draughts ; and this whether he draws directly on the Principal, or on any other third Perfon, on the Principal's Account : And all this is only in refpeft to the Factor, as he is Re-drawer. 17. When any is draw n upon for the Account of a third Perfon, and the Acceptant accepts fupra Protcft for the Account of the Drawer, and does advife him expreily thereof, at the Return of the Poll -y in this Cafe, if the Factor cannot get furri- cicnt Provilion from the Principal, nor fuificient Orders for his Re-imburfement, before the Draughts fall due, the laid Factor (Acceptor) may re-value on the Drawer, and is not obliged to feek for Redrefs fifft, on any third Perfon for whole Account the Draught Of Money, J flights, Meajures, &c. S 5 Draught was, But if the Acceptance was made fupra^Proteft, with the Obligation of the Drawer, then the Acceptor muft, if the Drawer requires it, firft feek his Redrefs on a third Perfon, for whole Account it was drawn ; and in this Cafe he is no further obliged than to re-value on the third Per- ion ; and if liis Bill be protefted, or not accepted, nor paid, then he hath Redrefs upon the Drawer, whole Obligation he referves to the very lafh 18. When Provifion (for a Bill drawn for Ac- count of a third, by the Acceptant accepted fupra Proteft with the Obligation of the Drawer) is not made by him for whole Account it is drawn a- gainft the Time it falls due, but Orders are only given to re-value the fame directly upon himfelf, or on feme other Place, then the Acceptor muft in this Place firft confult the Drawer, who hath obliged himfelf, before he can re-value the fame, and advife him, that notwithstanding he will yet remain by the Obligation, until the Sum to be re- valued be repaid. 19. When the Acceptor of a Bill drawn for the Account of a third Perfon, but accepted fupra Proteft for Account of the Drawer, with the Drawer's Obligation, &c* doth re-value on a third Perfon at the Requeft of the Drawer, and the laid Acceptor's Bills are either not accepted, or if accepted not paid in due Time, and lb are fent back with Proteft, then he that difcharged the firft Draughts muft alio difcharge the protefted Bills ; but he may re-value himfelf for the laid Sum, with the Charges, Provifions and Protefts on* the firft Drawer, by whofe Obligation he ftill re- mained, G 3 2Q, When 86 Ha vtesV Negotiator s Magazine 20. When a Bill is accepted fupra Proteft, for the Account or with the Obligation of the Drawer, and the Acceptor is afterwards jealous, whether the Drawer will really accept his Re-draughts, in this Cafe it will be beft for the Acceptor to fuffer the Bills to be return'd proteft cd for Non-payment -y but firft to advife the Drawer thereof, that he may take new Orders for the Difcharge of his Bill. 21. If a Perfon is drawn upon for the Account of a third Perfon, and he freely accepts the Bill on the Account of the laid third Perfon, fuch Ac- ceptor on the Day of Payment can have no Re- drefs on the Drawer ; nor is the Drawer obliged, if the laid Party mould re-draw upon him, to accept his Bills, becaufe the faid Party's free Ac- ceptance hath difcharged the Drawer, and he is obliged to look for his Re-imburfements from the third Perfon for whole Account he accepted. 22. If Bills be protefted for Non-payment, Re- exchange is due but once, though the Remitter can recover nothing of the Drawer, nor Acceptor at that Inftant, and afterwards only Intcreft till a Compofition or Contract can be agreed upon -x otherwise if Re-exchange, and Intcreft upon In- tereft mould be due ad Infinitum t the Interest would arife to more than the Principal, and it would be impoflihle for a poor Debtor to recover , however it is not once due, if the Monies be pa'u! in due Time in the Place of Payment. Sect. Of Money, freights, Meafures, &c. 8/ Sect. XIII. Of Bills being drawn upon one Place, but made payable in another. i. rpHE Remitter is not obliged to take Bills drawn upon one that does not dwell in the Place where the Bill is to be paid, without an Addrefs ; efpecially when the Bills are made pay- able at fo many Days Sight, or at Ufance (if Ufance be reckoned after Sight) excepting the Conditions are exprefly agreed upon. 2. The Addrefs of a Bill of Exchange is the Diredions, plainly declaring by wrhom, and where the Payment fhall be made when due, and to whom the PoffefTor may addrefs himfelf, if the Party be abfent who is to accept or pay. 3. He that hath the Bill "may demand Accep- tance of the Perfon the Bill is addreffed to ; and in cafe the faid Perfon hath no Order nor Power to accept the Bill, in his Friend's Name, and for his Account, the PoffefTor may defire the faid Perfon (if he be a Perfon to be confided in) to fend the Bill to the Acceptant to procure Acceptance, or to return it with Proteft, which the Perfon the Bill is addreffed to is obliged to do, or elfe the Poffef- for may before the laid Perfon make Proteft for Non-acceptance. 4. If the PoffefTor dare not truft the Addreffed with the Bill, to demand Acceptance y or if the Drawer has not addreffed the Bill at all ; then it is ► the Duty of the PoffefTor to fend the Bill, or caufe it to be fent, to fomebody that lives at the Place G I where 88 Hayes' j Negotiators Magazh/e where the Acceptant dwells, to demand Accep- tance, or, upon Refufal, to protefl. 5. It is ufual, when the Remitter or PoiTeflbr have no Correfpondent to fend the Bill to, that lives at die Place where the Acceptant dwells, to defire the Diawer to fend the prima Bill to the Acceptant to procure Acceptance, and to return i* accepted to the P.emitter or PollelTor ; to which the Diawer is not obliged, yet he cannot well re- fufe, if he be allured of the Honefty of his Cor- refpondent, and that he will accept his Bill. ' 6. In cafe the Drawer does not in convenient Time return the Bill accepted to the Remitter (as abovefaid) the Drawer, in fuch Cafe, is not obliged to give any further Satisfaction to the Remitter, but the Remitter muft look to it himfelf, and fend a fecond Bill to fome other, to procure x^ccep- tance, and to enquire whether the prima be ac- cepted, or not; if not, the Acceptant muft accept the fecond Bill, or a Protefl: muff: be entred agar ill him. 7. But a prudent and cautious Remitter will not leave a prima Bill in the Drawer's Hands to procure Acceptance, unlefs he is very well allured of his Honelty and Ability. 8. When the PoflefTor of fuch a Bill hath no Correfpondent at the Place where the Acceptant lives, or any who will take upon him the Trouble to fend, nor dare he to truit the Drawer with it -y or if the Bill is payable in a Place where there is no Bank, or if the Bill mud be paid in current Monies, and not in Bank ; then it is ufual for the PolTefTor to advife the Acceptant by Letter that he hath fuch a Bill on him, and defire him to return Anfwer, Of Money, Weights, Meafures, &c. 8 9 Anfwer, whether he accepts the fame, to pay it at the Time, or no ; if he returns Anfwer, that he will not accept it, nor pay it, or if he gives no An- fwer at aU, the PofTeffor is then obliged to carry or fend the Bill to that Place, and there formally, by a Notary Publick, to demand Acceptance ; and, in cafe of Refufal, to proteft. 9. If the Acceptant be an Out-dweller from the Place where the Bill is to be paid, it is ufual, when. Acceptance is demanded, to defire the i\cceptor to underwrite to whom he muft addrefs to (when due) for Payment ; not that the Acceptor is obliged to do this, but on the contrary, if the Bill is payable to Order, the PofTelTor is obliged to give the Ac- ceptor timely Notice to whom the Bill muft be paid. 10. When a Bill is made payable after Sight, or at Ufance (and Ufance is reckoned after Sight) by an Out-dweller, then the Acceptant may date the Acceptance on the Day that he accepts the fame, if it be demanded diredtly from the Place where the Bill was drawn : But if the Bill be firft fent to the Place where the Payment muft be made, then the Acceptance ought to be dated the Day of the Arrival of the Bill at that Place, and not on the Day of its being prefented to the Ac- ceptant in the Place where he lives, if the Polfelfor will ftand ftri&ly and precifely for a Day with the Acceptant, otherwife it is no Lofs or Prejudice to the Poffeflbr at what Time the Acceptance be dated, fo it be within the juft Time. 11. An Out-dweller muft take particular Care, that the Bill be difcharged at the Day in its due Place^ 9 o Have s'j Negocidtms Magazine Place, and muft not wait till the Polfeftbr advife him thereof. . 12. When a Bill is payable by an Out-dweller to Order, and not to a certain Perfon, and the Ac- ceptor hath not ordered to whom the laft Party (it is aligned to) mall addrefs himfelf at the Day of Payment, then the Pofleflbr is obliged to give the Acceptor timely Notice to whom the Bill muft be paid, that the Acceptor may, within the Refpite Days, return an Anfwer, and make all due and neceifary Preparation to difcharge the fame. 13. If the Out-dweller, at the Time appointed, remits to the Pofleflbr of his accepted Bill, in other Bills due at the lame Time with his Bill, the Pof- feflbr is not obliged to demand Acceptance, and to get thole Bills paid, unlefs he has Provifion allowed him. But when the Acceptor directs him to any particular Perfon to demand Payment, the Poflef- for is obliged to go to this Party to receive his Mo- nies without any Provifion. 14. When an Out-dweller hath a Bill remitted to him payable by an Jo-dweller, and the Out- dweller deiires his Acceptor at the Day to fend his Money in Specie, or to remit him the Value in o- ther Bills, the In-dweller is not obliged to do thi> without Allowance of Provilion. 1 5. The FoifeHbr of a Bill payable by an Out- dweller at the laft Day of Refpite (if he docs not get his Money) muft order a publick Notary to proteft for Non-payment ; which Proteft, though not made in the Pretence of the Perfon, nor at the I Ioufe of the Acceptor, is valid, and effectual to all Intents and Pirpofes, becaufe the Polllllbr of OfMo/iej, Weights^ Meafures, &c 9 1 the Bill is not obliged to proteit againft an Out- dweller at his Houle or Dwelling, nor to leek him out of the City or Town where die Payment is to be made. 16. If an Out-dweller refufes Acceptance when a Bill is feat to him, Protert may be made either at the Houfe of the Out-dweller by the PoiTeiTor, or elie at the Place of Payment. A Letter from the Perion that demands Acceptance being produced to a Notary, is iu trident to ground a Pro- ten: upon, and lb alio in cafe of Non-payment. 17. Although the Poilelibr is not obliged to leek for Payment of an Oat-dweller in any other Place but where the Bill is payable, and the Drawer or Acceptor hath addrefled it, yet he may, in cafe of Non-payment, Executive Proceed againft the Ac- ceptor, in any Place where he either rinds his Goods or his Penbn. iS. The Debtor by Exchange is obliged to bring his Monies to the Place of Payment, though it be both dangerous and chargeable, at his own Rifquc and Expences. But if the Debtor requefts.the Cre- ditor to take his Payment in any other Place, and the Creditor contents thereto , the Riique and Charges muft be paid and allowed by the Debtor, as they can agree. But if the Creditor receives his Payment limply, he takes the Hazard and Charges upon himfelf. 19. So alio the Creditor by Exchange is obliged to come to receive his Monies at the Place appoint- ed, though it be both expeniive and hazardous to carry the Monies home, cr to any other Place > where he would have it ; but yet the Creditor can, and may leek his Debtor in any Place where be will, 92 Have s j Negociators Magazine will, and there receive his Payment j but then he cannot compel the Drawer to bear the Charge* thereof. Sect. XIV. Of Bills drawn on one Place ever, or through another Place, and of Exchanges tn Commifjion in general. I . X C H A N G E to a Place over, or through another Place, is when Bills are not made payable, or remitted to the Place directly where the Monies are, or w here the Remitter would have his Monies, but on fome other Place from whence the Value is to be re-drawn, or re-remitted, to the Place where the Money is to be paid, or where the Remitter would have his Monies. As for Ex- ample : A Drawer having Money at London, would gladly have it at Riga ; the Drawer at Riga cannot directly draw in his Money from London ; but rirft he draws on ylmjlerdam, or Hamburgh, and then he orders his Friend at Awjlerdam, or Hamburgh, to draw or re-value himfelf upon his Friend in London, for the fame. Now the Realbn of this Kind of Exchange is, cither becaufe there is no fettled Price, or Courfe, of Exchange between Lon- don and Riga ; or elfe, becaufe it may be more ad- vantageous and profitable to negotiate an Exchange in this Manner. 2. A Bill of this Nature muft be made firft pay- able in the Place they go through, to the Perfon that it is made payable to in that Place, whether he be a Factor, or Servant, or any one clfe. 3- -p'0 Of Money } freights y Meafures, &c. 9 3 3. Provifion is the Reward the Fador receives from his Principal, and he accordingly places it to his Employer or Principal's Account, for his Trou- ble in correfponding, and negociating his Principal's Affairs, and in hazarding his Credit in Bills of Ex- change. 4. Bills are negociated for another, when the Fadtor negociates Bills in his own Name for the Account of another; and by another, when the Bills are negociated in the Principal's Name, by another in CommirTion. 5. Circumfpedtion and Prudence is requifite in the Perfon employed, as well as in the Employer ; and a Merchant's principal Care in Exchange, is to fee that he hath a furficient and able Perfon to correfpond withal, whether he draws and charges his Bills upon him, or remits his Bills to him ; and he mull not only have refpect to his Ability, but alfo to his Fidelity : For an able, but knaviih Correfpondent, may fo ferve his own Ends with the Monies that his Principal hath provided for him to difcharge his Bills withal, as to fuffer liis Principal's Bills to be fo much dilhonoured, as to be returned under Proteft. 6. But a Fadlor that hath a cordial and able Principal, who doth not ufe to abridge him of his Provifion, is obliged to improve all his Abilities and Faculties, in a true and faithful Service to him, and mould feek his Principal's Intereft and Profit as his own ; but if a Principal will not allow the ufual Provifion and Charges', he puts his Faclor upon mean Ways to reimburfe himfelf. 7. Fadlors are obliged to a due Correfpondence, and by the rirft Port to give an Account of what they 94 MAYES S Negotiator s Magazine they have negociated in their Principal's Affair?, with all the Circumftances thereof 5 viz. the Sum, the Courfe, or Price, What Conditions, and with whom* 8. A prudent Principal will require of his Fa- ctor, though he hath credited him for the Bills negociated, all Circumftances thereof, and the Fa- ctor is obliged to advife thereof ; and in cafe he hath bought Goods, not only to declare who his Chap- man is, but alio in cafe he hath remitted Monies Jor his Principal's Account, wrhereof he hath not yet received the Bills, to give an Account who is his Drawer ; and fo, if lie hath drawn, who is his Remitter, &c. 9. The Principal is obliged, as foon as he re- ceives Advice of any Negotiation done for him by his Factor, to approve or difapprove of the fame. 10. The Principal is not obliged to approve of all that his Factor doth ; but if the Factor hath exceeded, or not followed his Orders punctually, though what he hath done were never fo prudent- ly managed, and with a good Intent and Deiign, for the moil Advantage and Intereft of his Prin- cipal, yet he may diiapprove of the fame ; and if he can make any Damage appear, he may make him allow it. But on the contrary, if the Factor hath followed Order, and hath not tranfgrclfed nor exceeded his Commiilion, then the Principal is obliged to bear With what has been done by the Factor, though it turns but never fo much to his Difadvantagc ; and to mult all Loffes by the Ex- change fall upon, or be born by the Principal, if the Factor doth itrictly follow his Orders. 1 1 . That Of ^ Money, freights, Meajures, &Cc. 95 1 1 . That known Rule, Follow Orders though to the Principal's Lofs, is not always to be ob- served ; if the Factor forefees, by following Order, he mall infallibly hurt his Principal ; nor is it ho- neft for him at fuch Time fo to do, becaufe it fa- vours too much of Selfimnefs \ and it is not doing by his Principal as for himfelf 5 and he that at- tempts to do Things of this Nature, does too plainly mew, that if he gets but his Provifion, he cares not whether his Principal finks, or fwims, Therefore it is belt, in all fuch Cafes, for the Factor not to perform his Commifiion, but to wait, if pofiible, for fecond Orders. 12. The Principal hath not always Redrefs a- gainft his Factor, for the Lofs that doth enfue upon the Non-performance of the Commiffion ; although the Factor hath promifed to effect his Orders, and could have done it. But if he act any thing con- trary to Order, he is always obliged to make Sa- tisfaction for the Damage and Intereft, &c . 13. If a Factor exceed his Orders, it is not in the Power of the Principal to take fo much of the Negociation for his Account as his Orders were for, and regulate the Affairs accordingly, but he muft totally approve, or difapprove of what his Factor has done, and fo take all, or none, as it is done by the Factor. 14. A Factor renders himfelf fufpected, if he does not advife his Principal, of the true Price, or Courfe, of Ex-change ; but makes his Bills in a fo- reign Denomination of Monies. As for Inftance : At London it is cuflomary to exchange on the Pound Sterling ; now if the Bills made in London be made in Dutch Gilders, and not in Pounds Ster- ling, 96 Ha VesV Negotiators Magazsnt ling, it looks very fufpicious, that the Factor had cliped the Courfe. 1 5. If one Factor has one and the fame Corn- million from divers Principals, whether in Ex- change, or other Affairs, without any Limitations, and he doth effectually perform the laid Commif- fions, but perhaps in different Courfes, or at va- rious Prices, fo that he cannot poilibly reduce them to an Equality ; then it is but reafonable for him to let his bell: Principal to have the moll: Ad- vantage 3 but he is obliged to do the beft he can, ' to give them all Satisfaction, as far as he can, that he may with Confidence anfwer them all. 16. If a Factor hath Orders to one and the fame Purpofe from divers Principals, but one limits him to a Courfe, or Price, and the other not ; if he can, and doth effect both their Corn- millions, at the limited Price, and Courfe, or it may be more for their Advantage ; then it is but juft that the Principal, whole Orders were with- out Limitation, ihould be preferred, if there be any Advantage ± becaufe if the Com mill ion could not have been effected at the limited Courfe, he mull: have been content to have fuffered the Lofs. 17. If a Factor hath a double CommilTion from one Principal, about drawing and remitting, he mult not effect the one, unlets he knowb how to effect the other ; or if to buy and draw, he mull: not tirlt draw and then buy, for if he does one without the other, it i> but an half effected Corn- million, a;;d will remain for the Factor's own Ac- count, and he mult bear the LoA 18, The Of Money, Weights i Meaf rres, &c. 9 y 18. The Fa&or may, and muft place Broker- iage to his Principal's Account, though the Com- miffioh is effected without the Interpofition of a Broker. But the Fa&or, who for the Lucre of this Brokerage, that will run the Hazard in the Conditions of the Negociations of under, or over- felling, or buying, rather than to employ a Broker, does not honeftly nor does he ferve his Principal as lie ought. 19. If a Principal orders his Factor to pay his Bills of Exchange, and to place them to the Ac- count of a third Perfon, it fuppofeth the third Perfon is the Drawer's Debtor ; and if the Factor does accept of the Com million limply, it doth in- fer an Alignment upon a third, or at lead it is named to him, how and of whom the Factor muft feek his Re-imburfement. 20. If a Factor hath Orders to pay Bills of Ex- change, and to place them to the Drawer's Ac- count 5 or if he pay fupra Proteft for the Drawer's Account, if the Drawer will not re-imburfe him, he may by Attachments and Arrefts proceed againft the Drawer. 21. If one Partner order another to draw upon him, or upon any other, 'tis always fuppofed that he may do it either in his own Name alone, or in the Name of the Partnership. 22. The Act of a quafi Factor cannot prejudice the Principal, unlefs the Principal's Order can be produced. 23. The ufual Charges of Provifion, Broker- age, &c. in the Exchanges are as follow : Brokerage 98 HAYES1/ Negotiator j Magazine L. L. Shillings. Brokerage is ufually 1 per 1000 or 2 per Cent. Pro vi Hon for Drawing is - - - \ per Cent. Ditto for remitting the fame, - i. per Cent. And no more is due than \ per Cent, for Provifion both for Labour and Rifque. The Italians allow but 4 per Cent, for both. And for receiving and paying Annuities, Rents, or Intereft Monies, the Merchants of London do commonly charge their Employers .* per Cent. Sect. XV. Of Drawing Bills in Commijjhn. 1. RAWING in Commimon, is either for JL/ Account of him on whom it is drawn, who is the Acceptant, or for the Account of a third Perfon. 2. When a Bill is drawn for the Account of the Party it is drawn upon, you muft give him fpeedy and punctual Advice, for what Sum, in how many Bills, to whom, and when payable, from whom the Value, at what Price, and alio of how much lie will be credited for in his Account. 3. Bills mult not be drawn for the Account of a third Perfon, without fpecial Order from the faid third Perfon ; nor ought the Drawer to draw, un- til the Acceptant adviies him that he has fuch Order, and that he will accept, for the Account of the faid third Perfon. 4. When Bills are drawn upon Account of a third Perfon, the Drawer ought to give punctual Advice Of Money, Weights, Meaftires, &c. 9 9 Advice to the faid Perfon ; and alfo he muft do the lame to the Acceptant. 5. The Acceptor muft firft be advifed, for vvhofe Account, what Sum, in how many Bills, what Date, to whom, and when payable, and from whom the Value ; it is unneceffary to name the Price, unlefs the Exchange is made in a fo- reign, or imaginary Denomination of Monies ; wherein the Merchants at the Place, where the Bill is to be paid, do not keep their Accounts ; and when the Value of the Bill is to be paid, accord- ing to the Price contracted for. 6. The Principal, for whofe Account a Bill is drawn, muft be advifed of the Price, on whom drawn, what Sum, at what Time payable, and of the Value that he is credited for. But to advife him of how many Bills, or with whom it is nego- ciated, is unneceffary. 7. In making out Bills, drawn for the Account of a third Perfon, fome Drawers obferve this Me- thod, in concluding the Bill ; they fay, Make good Payment^ and put it to Account of A ; naming the Perfon's Name, or the two firft Letters, being the initial Letters of his Name and Sirname ; now this is done to prevent and obviate any Exceptions that may be made, in relation to whofe Account the Bill is accepted for. 8. Bills are, and fometimes may be drawn upon another, for a third Perfon's Account, and yet the Acceptor not know the Perfon at all but fuch Draughts are always made upon the Obligation and Faithfulnefs of the Drawer. As for Example : Adam is ftreightened for Mo- ' ney, and Benjamin his Friend can fpare him none ; H 2 but ^effociator's Mnvaz'we ith David at Amjlerdam, and Yiend Adam with his Credit > id are utter Strangers one to an- [erefore Benjamin will value on his Friend David fuch a Sum of Money for Account of A- damy as he has occalion for ; whereof he advifes David y and affures him that he will be cautious for the punctual Re-imburfement. This Method of Exchange is alfo pradYifed in Cafe Abel is Debtor to Bartholomew, and Abel cannot conveniently pay the Monies; whereupon they both agree, that Bartholomew may value on his own Correfpondent David \ with Order to re- draw the fame on Abel the Debtor. 9. Sometimes Bills are drawn for the x^ccount of a third Perfon, by Order of a fourth. As for Example : Antwerp hath Orders from Madrid to draw for his Account on Hamburgh ; but Antwerp finding no Relcounter, orders Amfterdam to value the faid Monies on Hamburgh for the Account of Madrid, by the Order of Antwerp. Or die it may be taken thus : A draws on B, with Orders to re-imburfe himfelf, by drawing on C for the Account of D ; but fuch a Commiflion B fhould not accept of, unlefs A obligeth himfelfj and when he draws on C, he mull advife him, that he draws by the Order of A for Account of D and B muft alfo give Advice to A, and the Account alio. But it is not necellarv, though this Negociation be for the Account of D, that B ihould corre- fpond with D about it, becaufe A Hands ob- liged. 10. When a Drawer in Commiflion gives Bills to any that does not punctually pay the Value, he is Of Money, Weights > Met fares, &c. i o i is obliged to procure the Value by Rigour, without giving the Party any Time to delay : But upon his own Rilque and Hazard not a Day longer than till the next Poll:. 11. If a Drawer, in Commiflion, gives the Re- mitter any Time for the Payment of the Value, and hath thereby any Advantage in the Price, and places the Advance to the Principal's Account; then the Principal, upon Advice thereof, is obliged by the next Return of the Poft to approve, or dis- approve thereof 5 and if he is not fatisfied with the Conditions, he muft let the Drawer have the Ad- vantage, and anfwer his Principal according to the Price current. 12. A Factor, that has Orders to draw upon a third Perfon at Sight, does not wifely if he draws at any Time : And he mould alfo obferve never to draw after Sight, but always after Date, or at a certain and fixed Day. And if he has an Order to draw on a third Place at the Price current, he muft follow his Order, though it be to the Difadvantage of his Principal. 13. A Principal muft be content with the Price his Faclor has concluded at, though it be to his great Difadvantage, whether it proceed from the Courfe of Exchange, or from the Factor's fmall Credit. 14. Sometimes it falls out, that a Drawer hav- ing drawn in a difadvantageous Price to his Prin- cipal, does for certain Reafons advife his Principal of a better Price than he got, whereby he loles fometimes more, and fometimes lefs, than all his Provifions \ and as this is lawful, fo it cannot be judged Knavery, if the Drawer hath got a very io:, Ha yes V Nejrociatofs Majraztne high Price, if he places to the Principal's Account the Price current, to make good his Lofs thereby. However, flich Factor renders him (elf very fufpi- cious, if he does not advife of the true, and right Courfe, that he negociates in ; efpecially when he makes a Bill in another Denomination of Monies than is uiiial and cuftomary ; for, by fo doing, he may at any Time afterwards make the Courfe, or Price, as he pleafes. 1 5. It is very advifable for Drawers in Commif- fion, that they procure the Acceptance of their Draught (efpecially when on a third Perfon, and not on the Principal directly) without Delay. 16. If a Principal orders a Factor to draw, and he, having dilburfed Monies for his Principal, doth draw ; the Principal may be compelled to accept, and pay the Bill. 17. He that hath Orders to draw on one Place, and remit to another, on Account of a third Perfon, or to remit to one Place, and to draw upon another, for the faid Value, for Account of a third Perfon, he mult not remit, before he knows that he can draw j nor draw, before he knows he can remit j left on the one hand he be in Difburfe, or on the other he be in Cafli, for his Principal, not knowing how to difpofe of it, which muft be an Uneafinefs to him ; but when he hath an Op- portunity to do both, lie muft, before he con- cludes, make hi^ Calculation, whether he can with the Courfe anfwer the Deligns, and Limits, of his Friend, if he is under a Limitation. 18. When a Factor lias Orders to draw a juft and limited Sum, then he muft add to the Sum (if Of Money, fFeights, Meafures, &c. 1 05 (if it be to conclude an Account) Provifion, Bro- kerage, Portage, and his other Charges. 19. When a Factor hath an Order to buy Goods, and to draw for the Coft, and Charges, or part thereof, on a third Perfon ; and he knows not, or cares not to confide in his Principal ; it is ufual, in this Cafe, for the Factor to correfpond with the Party he has Orders to draw upon, to know whe- ther he will accept fuch and fuch Bills for that Principal's Account, or not ; and if he does advife that he will accept, he is not obliged to do it, when the Bills come to his Hand. But in Cafe the Drawer (or the above Factor) upon this his Promife, mould buy, and fhip the Goods, it is but reaibnable but the faid Acceptant mould be ob- liged to accept and pay the faid Factor's Draughts, as he has been the Occaiion of the faid Factor's Lofs and Proceedings. 20. But if the Drawer had not fhipped the Goods, nor is in any Danger of lofing upon that Account ; then he can demand no more of the Acceptant but the Re-exchange, and Charges, and Reparation of his Credit, by fuffering his Bills to be protefted, as he was the Occafion of this Lofs. Sect. XVI. Of being drawn upon in Commijjion. 1. TT is the Duty of him that is drawn upon in JL Commiffion, upon Advice of the Draught, punctually, and without Delay, to return Anfwer to- the Drawer^ and to advife him whether he accepts, H 4 or 104 H A YES7/ Negotiator s Magazine or no, on the Conditions, and for Account of him for whom it is drawn. 2. If the Draught be for the Account of a third Perfon, then the Acceptant muft give Advice to him alfo, for whofe Account it is, that fuch a Sum, by fuch a Perfon, is drawn on him, for his Account, and is payable fuch a Day ; as alfo, that he fhall accept for the Principal's Account, or not. 3. He that is drawn upon, for the Account of a third Perfon, from whom he hath no Order to accept, neither is in Cafli for his Account, neither hath Order to redraw the Value on the Principal from die Principal, does wifely to fuffer the Bills to be 1 eturn'd protected for Non-acceptance, unlef> he knows the Drawer very well to be a furficient and honeft Man, and will accept for his Account fupra Proteft. 4. If any be drawn on for Account of a third Perfon whom he will not credit, or from whom he hath no Orders to accept any fuch Draught foi his Account, he can and may, if the Drawer be furricient, accept the Bills fupra Proteft in Ho- n >::, of the Drawer; but in fuch a Cafe he is obliged to advife the Drawer of fuch his Accept- ance fupra Pioieft. r. lie that is drawn on, either for the Account of a third Perfon, or for the Drawer's Account, and makes a Difficulty cither freely, or fupra Pro- tcft, to accept for the one, or die others Account, he may accept for the Honour of any one En- dork': , fupra Proteft, if he knows or dares to truft any one of them \ but then he is obliged to give the Drawer, and the Party for whole Account it Of Money )TFelghts,Meafures,&LQ. 105 it is drawn, and alio the Endorfer, for whofe Ac- count he accepts, Advice thereof, and to fend the Proteft, aqd the Acceptance fupra Proteft (in Ho- nour of any Endorfer) to the faid Endorfer, for his Ufe againft his Drawer. 6. When the Acceptant hath accepted a Bill fupra Proteft, in Honour of the Drawer or any Endorfer (for want of Advice, or Order, or Pro- vision from them for whofe Account the Bill is drawn) and he fhall afterwards receive Orders, and Provifion, he is then obliged to free the Drawer and Endorfer from their Obligations, and to ad- vife them, that he will pay the Draught for his Account for whom it was drawn, and he therefore difcharges them, 7. When an Acceptant accepts a Bill with the Drawer's Obligation, then he is obliged, at the Day of Payment, to advife the Drawer, whether the Party for whofe Account the Bill was drawn, did make Provifion for it, or otherwife hath given fuf- ficient Order for the Payment, and that he there- fore difchargeth him from his Obligation. 8. When a Perfon is drawn upon for the Ac- count of a third Perfon, by one with whom the Acceptant never had any Correfpondency, and therefore knows not his Hand-writing, then there muft be great Prudence ufed, though the Accep- tant hath Order from his Principal to accept the fame, he muft not accept of any fuch Bill without a Letter of Advice from the Drawer himfelf, that the Hand- writing in the Bill and Letter may be firft compared. 9. He that verbally, or by Letter, hath pro- mised to accept any Bills drawn on him for the Account i o 6 Hayes 's Kegociators Magazine Account of a third Perfon, and he to whom this Promife was made, relying thereon, does accord- ingly give the third Perlbn Credit : In this Cafe, he that made the Promife is obliged to perform it, in refpect to the Party that he fo promifed ; but if he fhould afterwards refufe to accept fuch Bill for the Account of the faid third Perfon, the PofTeffor of the Bill cannot compel him thereto, but only in the common legal Way. 10. No Acceptant can nor mufl: accept, for his Principal, Bills that are drawn by another Perfon for his Account, unlefs he has exprefs Orders fo to do, and the Drawer doth in every refpedl fully and punctually obferve this Order, and the third Perlon, for whole Account the Bill is drawn, ad- vife the Acceptant thereof. 1 1 . When a Fa&or hath Orders from his Prin- cipal to accept a certain Sum, from a third Per- fon, for his Account, at Ufance ; and the third Perfon draws at Sight, becaufe he could not meet with an Opportunity, according to his Principal's Order, to draw at Ufance : In fuch Cafe, the Fa- ctor may accept the Bill in honour of the Drawer fupra Protefr, and re- value the fame upon him, if he hath no Orders from the Principal how he may be re-imburfed. 12. When a Faftor hath Orders from his Prin- cipal to accept of any Draughts at Ufance for a third Perfon, and the faid third Perfon finds no Op- portunity to draw the fame till half Ulance, and he draws at half Ufance ; In fuch Cafe, the Ac- ceptant is obliged to accept freely and willingly. 13. If any Perfon be drawn on in Commiilion, and is ordered to draw the Value again from fome other Of Money ^ freights. Me a fur es, &c. 107 other Place, where he probably can meet with no Monies, or cannot draw in the limited Courfe, and finds it not convenient to difburfe fo much Monies for his Principal's Account ; then he may, if he cannot do otherwife, charge his Bills directly on the Drawer, or any other Place, even above the limited Courfe, or at the befl Courfe that he can procure for his Principal. 14. If any Perfon be drawn on in Commifnon, and he hath accepted the Bill, and the Payment is not demanded at the Day when due, then he mull and may debit the Principal for the faid Va- lue, as if it were paid, becaufe he is {till obliged for the Sum, at all Times, and in all Places. 15. The Acceptant of a Bill in Commifiion, drawn at Time on him, may, and he mull de- mand of the Drawer the accepted Bill, if the Drawer againft the Time of Payment does call in the Bill again, and pays the Monies, and the Drawer is obliged to reftcie it; but he mult, before he parts with it, clearly and exprefly write upon it, that he himfelf called in the Bill, and latisried it, and tear, or cut it through with a Knife, for a Token of its being made void ; and the Drawer is obliged to allow the Acceptant at leaft half Pro- virion. 16. When a Factor is drawn upon to fatisfy a Bill out of the Effe&s or Goods that he hath in his Hands to difpofe of, then he is always ( what- ever happens ) preferred to thofe Goods, and muft have his Difburfements out of them, before any other Creditors can lay claim thereto. 17. If any Perfon be drawn upon in Com- miffion5 and there is afterwards found a Difference in jo8 Hayes V Negotiators Magazine in their Accounts, as to the Sums, and Quantities drawn, the Acceptant is obliged to prove his Ac- count, by producing the Bills j no other Evidence, for many Reafons, being a fufficient Proof. Sect. XVII. Of being remitted to in Commijjion. t . TT is the Duty of him to whom a Bill is re- mitted, to endeavour to get or procure Ac- ceptance. 2. On Refufal, to proteft, if not for- bidden, though not exprefly ordered. 3. To ad- vife the Remitter of the Receipt, Acceptance, or protefting thereof, and to fend the Proteft to him. And laftly, to advife any other third Perfon that is or may be concerned in it ; and all this muft be done, without fail, by the next Return of the Port. 2. He that hath Bills remitted to him for Ac- count of a third Perfon, or to be at die Difpofal of a third Perfon, cannot place the faid Bills to his own, nor to the Remitter's Account, nor to any other's Account, but is obliged to obferve the Or- der of him only, for whofe Account it is, and at whofc Difpofal the laid Monies and Bills was or- dered, and remitted to him. 3. If a Bill remitted for the Account, or to be at the Difpofal of a third Perfon, be endorfed, or made payable at rirft to the Receiver thereof, or to his Order, he that receives the Bill ( if he hath adviled the Perfon for whole Account, or at whofe Difpoial it mull be, that he hath received fuch a Bill for his Account, or to be at his Difpofal ) cannot Of Money ) JFaghts, Meafures, &c. 109 cannot revoke his Word, to pleafure the Remitter, but muft wait for the Order of the (aid third Per- fon ; but if he has not writ nor advifed the (aid third Perlbn thereof, then he may, at the Requeft of the Remitter, or the Remitter at the Requeft of the PolTelTor, obferve the laft Order, or wait for further Orders. 4. When a Perlbn has Monies remitted to him in Commimon, and the Principal orders the laid Monies to be remitted to lome other Place fur- ther, or to dilpofe thereof fome other Ways, if the Party the Money is remitted to omits thefe Orders, or neglects them, and detains the Money by him, he is obliged to make good to his Prin- cipal all the Lois and Damages that the Principal can make appear that he has luitained, by his Fa- ctor's not obierving his Order, nor effecting his Commimon. 5. If any Perlbn has Bills remitted to him to be endorled, and drawn in from other Places, and the Principal either limits the Price at which he would have them re-valued, or orders them to be fentback, if he cannot negociate them at the limit- ed Price -} he does then very unwifely, if he fends the laid Bills back in Blank, or endorled, payable to the Principal's Orders ; becaufe if the Bills were returned with Proteit, he would make himfelf lia- ble to anfwer for them. But to free himfelf from the Fear of this Trouble and Lois, if the Bills be made payable, or endorled to the Order of his Principal, and the Principal endorfes them payable to his (the Factor's) Order, the Factor may blot or fcrape out that Order, and make it not legible, and lb lend the Bills back again, But then again, no Ha yesV Negotiators Magazine if the Bills be originally made payable to the Order of him to whom they are remitted to the Value of die Remitter) and this can noways be altered ; then it is advifable for him to write on the Back of the Bill, the Contents and Value was not paid to his Order, but to a later Order of the Remitter's, and is yet to be paid. 6. When any Perfon receives a Remittance for Account of another Perfon, and the Bill is not ac- cepted, or if accepted, not paid in Time, but pro- tected ; then the Party it was remitted to, if he hath Occafion for Monies for the Principal's Ac- count, may value the Sum on the Remitter, when he returns the Protefts and Bills together, with the Brokerage, Provifion, and Charges for the Princi- paPs Account, he giving the Perfon he draws on punctual Advice of the fame. 7. When a Perfon has Monies remitted to him in divers Bills, for divers Accounts, for one more, for another lefs, and reckoning the Sum Total of all the Bills, and not advifing which Bill was for this Man's Account, which was for that, and which was for a third Perfon's Account ; then in cafe one of thefe Remittances mould be protected for Non-payment, the Poffeffor thereof may, at his beft Conveniency, re- value the fame on the Remitter 5 and if he can't get Satisfaction there, the Lofs will fall upon all the Bills for whofe Ac- count the Remittances were made, and every one muft bear a Proportion of tlie Lofs, pro ratoy of the Sum he was to have of thofe Remittances 5 and if the Remitter irood Surety for any, he mufl fuffer Lofs, pro mto, with the reit. 8. If Of Money j freights, Mea/ures, &c. 1 1 r 8. If a Perfon has Remittances made to him for Draughts that were formerly drawn on him, and fall due before the faid Remittances do, and fo come too late to be of Service to the Acceptor in fatisfying thofe Draughts ; then he may, if he pleafes, reckon Intereft for the Difburfe of his Mo- nies for the Time at 5 per Cent, per Annum, rec- koning one Month if the Time be above 1 5 Days, and half a Month if it be lefs than 1 5 Days ; but if it does not fuit his Conveniency to part with his Money, he may, againft the Time the Draught falls due, value the Sum on the Remitter, and keep the Product of his Remittance till further Orders: But in doing thus, 'twill give but little Satisfaction or Content to the Drawer, nor will be much for the Credit of the other. 9. If a PolTeffor in Commiffion does not proteft in due Time and Form, either for Non-acceptance or Non-payment, the Poffeflbr himfelf will be lia- ble to make good to the Remitter, or to him for whofe Account it was, the Re-exchange and Charges, the Acceptor being obliged for no more than the Sum the Bill is for, and the Drawer, ipjb fottoy is difcharged. Sect. XVIII. Of remitting in Commiffion t and being Surety, 1 . T T E that remits in Commiffion, does either X X remit f°r the Account of him to whom he remits, or for a third Perfon, and he either ftands Surety, or not, for the Remittances. 2. Remitters 112 Ha YES V Negotiator s Magazine 2. Remitters in Commiffion muft take fpecial Care that they order the Bills to be made payable to whom his Principal gives Orders ; and if he lets the Bills be made payable to his own Order, he muft not forget to endorfe them to his Principal s Order, before he fends them away. 3. If a Remitter in Commiffion hath ordered the Bills to be made payable, either directly to the Principal, or to his Order, or to any other, &c. he may, if he thinks tit, before he hath fent them away, or parted with them out of his own Hands, caufe them to be altered, and may make them payable to any other. 4. When a Remitter in Commiffion hath fent his Bill to a third Perfon, by the Order of his Prin- cipal, and in his Letter of Advice hath clearly ex- preffed for whofe Account it is fent ; then neither he, nor his Principal, can alter or recall the fame,- to the Prejudice of him to whom the Remittances are made. 5. If a Remitter in Commiffion remits to a Perfon that does not dwell in the Place where the Payment is to be made, he fhould fend the firft Bill direftly to the Place of Payment, to get it accepted, or if refufed, to be pi otefted -y by this Means he will have fpeedy Advice, to fecure- himfelf of the Drawer, from whom he may de- mand three Bills, and fend the two other to his Principals. 6. When a Bill is thus protefted for Non-pay- ment, and returned to the Remitter, and he pro- cures Satisfaction, with the Re-exchange, Charges, and Provilions ; then the Remitter need not place any more to his Principal's Account than the Dif* burfements Of Money \ TVeights^ Meafures, &c. 115 burfements and Provifion due to the Factor for procuring Satisfaction. 7. Though a Remitter in Commiftiori ftands Surety for the Remifes, yet he doth very unwifely to order the Bills to be made payable to himfelf, or Order, and then endorfe them. However this is frequently practifed by the chiefeft Bankers and Exchangers, on purpofe to conceal from the Drawer to whom they remit : But this is acting very im- prudently for the following Reafons , viz. Firft, The Endorfing may be forgotten, or neglected, and thence may follow endlefs Difputes, and Con- tends, and great Damages. Second, The Remitter by that Means makes himfelf liable, not only to anfwer all Damages, &c. to the Principal, but alfo to every Poffeffor, and Endorfer of the Bill after him. For by Endorfing the Bill it makes it his own Bil^ and obligeth himfelf, on the Account of his Principal^ not only for the Value that he has received, but for all other Charges and Re- exchanges. 8. When a Remitter in Commiflibn does not ftand Surety for the Remifes, then he doth very imprudently to order, and then to endorfe the fame, for thereby he ftands effectually Surety, and hath no Advantage by it. 9. A Remitter in Gommiflion that ftands Sure- ty, may^ upon the returning of a Bill for Non- acceptance, contract with the Drawer for Re- exchange, and Charges, and receive Satisfaction ; and if he hath not endorfed the Bill, he may not only be compelled to remit the fame Value to the fame Place, to fall due at the fame Time, or to give Order for the Payment of the Sum at the I feme H4 HayesV Negotiators Magazine fame Time ; but he is alfo obliged to give his Principal the Advance of the Re-exchange, &c. But in Cafe he hath endorfed the Bill, he may ab- folutely refafe to give him the Advance of the Re- exchange ; and the Principal muft be fatisfied and content without it, becaufe by his Endorfement he made it his own Bill, and he, as well as any other Drawer, or Endorfer, may caufe the Bill to be fatisfied, at the Time appointed, and take the Ad- vantage of the Rc-exchange to himfelf. 10. A Remitter in Commiffion that frauds Surety, is not obliged, in cafe a Bill be returned with Proteft (and the Drawer is not able to make Satisfaction) to make good to his Principal any more than the Value he paid for his Bill : the Re- exchange, and Charges, if loft, are loft to the Principal ; becaufe the Remitter hath Provifion for no greater Sum than the Value he paid : But if he gets Satisfaction for the Re-exchange and Charges from the Drawer, then he is obliged to make the fame good to his Principal 3 but the Provifion he receives from the Drawer, he may detain for him- felf, he being noways obliged to credit his Prin- cipal's Account for the feme ; unlefs the juft Sum, With the Provifion and Charges, be effectually re- drawn on him: and if it were fo, the Remitter may place his Provifion to his Principal's Ac- count, for his accepting and paying the laid Bills. 11. A Remitter in ConimifSon being Surety, at the returning of a Bill with Proteft for Non- payment, is obliged prefently, and without Delay, to make good the faid Value, or to fuffer it to be drawn on himfelf 5 becaufe he (landing Surety, Of Money \ JVeighis^ MeaJuresfiCc. 115 does oblige himielf, not only for the Sufficiency of the Drawer, but alio for punctual Payment ; but then the Intereft, Re-exchange, &c. is all for the Profit and Advantage of the Remitter, if the Drawer cannot make prefent punctual Payment and Satisfaction. j 2. A Remitter (in Commifficn being Surety) giving Orders for the Payment of a Bill protefted for Non-payment, may charge his Principal with what he effectually pays or dilburfes more than the Bill was for, on Condition that he will let the Principal have Leave to recover what Lofs, or Charges, he may fuftain from the Drawer. 13. A Remitter (in Commifiion being Surety) making the Bills payable to the Order of his Prin- cipal, or to a third Perfon, (though the faid Bill be drawn, and endorled feveral Times, and in fe- veral Places, and therefore the Advice of the Bills being protefted cannot come to his Hands for a long Time afterwards) he is obliged to anfwer to his Principal the Value by him advanced, though the Drawer was for fome confiderable Time in Credit, after the Advice thereof might have come to his Hands, if it had been fent directly. 14. If any Perfon (in Commiffion being Surety) remits a Sum in his own Bills, and thefe Bills mall be returned under Proteft for Non-payment, the faid Perfon, becaufe he is the Drawer, is ob- liged to make good to his Principal the Re- exchange and Charges -y and the faid Perfon muft have done the fame, if he had not have been himfelf the Drawer thereof, provided his Prin- cipal had advanced the Value of the Remifes. 15. When 1 1 6 Hay e s'j Nepocii ttm ?s ^ fajrazint 15. Whetl any Perfon remits (in Commiflion being Surety) and makes the Bills for Account of him he remits to, the Rifque of his ftanding Surety ends with the Day of Payment ; fo that in Cafe the Acceptor the Perfon remitted to mould fail, the very next Day after the Bill falls due, or within the Relpite Days, and no Protelt for Non-payment is made, the Lofs is the Principal's, and not the Remitter's in Commiffion ; but if the Acceptor fails before the Day of Payment, or does proteft againft himfelf within the Days of Refpite, then the Lofs is the Remitter'^, becaufe he is the Drawer of him for whole Account the Draught is made. 16. When a Remitter (in Commillion being Surety) hath Orders from his Principal to remit a certain Sum of Money to a certain Place, (to fome of his Correfpondents, fuch as he looks upon to be fufficient) and it is there to wait for the Princi- pal's further Order ; if the laid Remitter advifes his Principal of the Remifes, and to whom he re- mitted, and the laid Sums be truly and duly paid, if the Correfpondent he remitted to fhould fail, the Remitter is not obliged to die Principal, be- caufe his Security, or Surety, hath only refpect to the remitting the Sums in liirricient Bills, and not to the Party they are remitted to ; becaufe from the very Moment the laid Sums are paid to him, they were at the Order and Dilpofal of the Prin- cipal j and he having no Occafion inftantly to dif- poft of the Monies, he did truft the fame in the Hands of his Correfpondent. 17. A Faclor having Orders to draw on one Place, an 1 to remit to another the lame Value, or any Part thereof, and the faid Factor being Surety > Of Money, freights, Meafures, &c. 117 Surety ; if it mould fo happen, that he the faid Fa dor could procure no Satisfaction of the Value for his Draughts, he mud fuffer the Lofs, becaufe of his being Surety : In fuch a Cafe it hath re- flect to the whole Negociation, and not to the Remittances only. 18. A Remitter (in Commiffion) mull not re- mit by Anticipation, in Refcounting of the Ad- vance, that is yet for Account of his Principal not yet come in, or not received; but if he does, he mull exprefly advife his Principal, that the Re- mifes are made by Anticipation without his Pre- judice, though the Monies to ballance this Parti- cular in his Account is not yet come to Hand. 19. A Factor for an Out-dweller for the Sale of Goods Handing Surety for the Debts, does not ftand Surety for the Remittances that he makes to his Principal iffuing out of the Debts he hath re- ceived, unlefs there be a fpecial and particular Con- tract concerning it. 20. If the Bills of a Remitter's (being Surety) be returned with Proteft, and he can procure no Satisfaction prefently of the Drawer, though he get Security, yet if he be found to difburfe his own, or borrow Monies of another, at Interefl, he may place the fame to the Drawer's Account, and make him allow the fame. 21. He that remits in Commiflion, and is neg- ligent and carelefs in dealing with thole that are fulpected to be infolvent, cr near failing, mult bear the Lofs, and run the Hazard, as if he ef- fectually Hood Surety for the fame. And he that makes a Remife for the Pofleffor's Account, can- not revoke his Order, without the Confent of the I 3 Drawer, 1 1 S H a v E S V Xegociators Magazine Drawer, nor forbid the Payment ; but if it be for his own .Account he may. Sect. XIX. Of protefling for Non-acceptance. i. TF a Bill is prefented for Acceptance, and the X Acceptant refufes abfolutely to accept, then the PoffciTor is inftantly obliged, without Delay, to make Proteft for Non-acceptance. 2. If the Acceptant cannot prefently declare, whether he will accept or no, but promifes fliortly to do it, or at the Return of the next Poll:, then the PoffciTor of a Bill may, without any Prejudice, at the Requeft of the Acceptant, wait fame Days, or till the next PoA: Day, and need not proteft ; yet, if he will not wait fo long, he is not obliged thereto, but may, if he will, inftantly proteft ; notwithstanding the Requefts, Pretences, or Ex- cufes of the Acceptant. $. As the Acceptance of a Bill may be de- manded by any Perfon whatfoever, that hath the Bill in his Hands, fo alfo in Cafe of Non-accept- ance, any Perfon whomlbever, that is entrufted with the Bill, may proteft, ^although his Name is not in the Bill, nor in the Kndorfements. 4. Proteft is commonly made by a Notary Pub- lick, in the Prefence of two credible Witneflfe j cither in the Prefence of the defigned Acceptant hjmfelf in any Place, or his Houfe, or Lodgings j where the Notary ihews the Bill, and demands Acceptance ; and in Cafe of Refufal, he protefts Of Money, Weights , MeaJ //res, &c. 1 1 9 for all Charges, Lofs and Intereftj Exchange, Re- cxchange, &c. r. If the Notary meets the Acceptant, and he abfolutely refufes to accept, then it is ufual for the Notary to demand the Reafons thereof -y which Reafons he is obliged to infert in the Proteft. 6. If the defigried Acceptant would not for- mally affront the Drawer, he may, and it is ufual to give fach Reafons for his Refufal, that tend leaft to his Difcredit ; of which the moll: common are, Becaufe he has no Advice of the Bill ; or, He kimfelf wiU advi/e the Drawer of the Reafons ; or, For want of Order from the third Per/on, for whofe Account the Bill is. 7. It is no legal Excufe to refiife Acceptance, becaufe that a Bill is made payable to Order, and is not endorfed, or becaufe the Acceptant will know, before he will accept, to whom it is pay- able. 8. Nor is it a lawful Excufe, to pretend that he hath accepted the other Bill, and that he will not accept two Bills for one Parcel, or Sum, be- caufe the Acceptance may be made with this Con- dition ; That the fame /hall have no Eff'etJ, if he has accepted one of the Bills already. 9. A PolTeffor of a Bill may proteft againft a limited and conditional Acceptance, with the Date or Subfcription of the Name of the Acceptor, as if the Acceptance had been abfolutely refufed. 10. If an Acceptant makes any Difficulties to accept a Bill, and the Polfeffor will accept of no conditional Acceptance , and therefore protefts ; and the Acceptant gives for Anfwer, That he is* ready, or willing, to accept the fame for longer Time % I 4 or. i 2 o Hay esV Negociators Magazine or, For a leji Sum \ or on fome other Conditions different from the Tenor of the Bill, he does pru- dently if he adds thereto, On Condition the Poffeffdr mil declare injlantly, whether he will take fuch Ac- ceptance, or not ; and in Cafe he (hould be filent, or fhould refufe it, to let him underftand that he- will not be obliged to this Acceptance at any Time hereafter. 11. If the Notary finds not the Acceptant at home, nor can he meet with him in any other Place, then he doth the Bufinefs effectually, if he demands Acceptance of the Acceptant's Wife, or of his Father, or Mother, Sifter or Brother, Man Servant or Maid Servant, or of any Body that is in the Houfe ; and if no Body's at home, if he re- lates the Matter to any of his Neighbours, and ex- prefles the fame at large in the Proteft. 12. If the Acceptant be abroad, and has left no Orders, nor hath given any full Power to any to accept the Bills that are drawn on him, then the PoffeiTor of a Bill need not wait his return Home, but muft protefl: for Non-acceptance at the Houfe of the faid Acceptant, or at his Lodgings. IJ, If the Acceptant is not known, nor can be found, then the Notary ought to go to the Poft- houfe, or fome other Place, where he can conve- niently enquire of him ; and if he then can't find him, he mil ft: then proteft how diligent he was to find him out. 14. If two Perfons of one and the fimc Name, live in the feme place, and the Pofteftbr knows not which of them the Bill is lent to, if they both refuse Acceptance, he muft protefl againft them both. 15. A Of Money ^ Weights > Meafures, &c. 1 2 1 15. A Proteft for Non-acceptance need not ne- ceffarily be made where the Bill is to be paid, but it may be made at the Place where the Acceptant lives, or in any other Place wherefoever the Accep- tant is to be found in. 16. So that when Acceptance is refufed, you may proteft inftantly, there being no Neceffity of giving three Days, or one Hour's Refpite to con- lider on it, whether the Acceptant will refolve to accept or no. 18. Yet at the Requeft of a known honed Merchant, fome Time may be given, provided his Refolution may be known before the Depar- ture of the next Poft after the Receipt of the Bill ; fo that the PoffefTor may have Time to advife if the Bill be accepted, or not, by the faid Poft 19. If the Party that accepted the Bill dies be- fore the appointed Day of Payment, the PoffefTor muft make Demand of his Executors, Administra- tors, &c. at the laft Dwelling-houfe of the Accep- tant's ; and if they do not prefently pay, then muft a Proteft be entered, as you would have done if the Acceptant had been living. 20. If a Party to whom a Bill is payable fhould die before the Bill falls due, neverthelefs the Mo- ney muft be demanded at the Time when it falls due by one Body or another ; and if the Party de- manding the fame in the Name of the Deceafed mall offer fufficient Security to the Acceptor, and it be refufed, Proteft muft be prefently made a- gainft him. S e c To izl Hayes V Negotiator9! Magaz ine Sect. XX. Of accepting protcfled Bills of Ex- i.TF an Acceptant fcruples to give Acceptance for Account of him for whole Account the Letter of Advice faith it is drawn, or if for want of Advice, he knows not for whole Account ic i- drawn ; then he may, if he looks upon the Draw- er as fullicient, accept the laid Bills fupra Proteft in Honour of the Drawer, for his Account. 2. Though it is not ufual to make a formal notarial Proteft upon an Acceptance for want of Advice, but only clearly to exprefs at the Accep- tance, that it is fupra Proteft accepted, yet it is better, and the Acceptant afts more prudent and fefetyj when he is not fully allured of the Suffici- ency and Honeliy of the Drawer, that caufes the Bill to be formally protefted, or, at leaft, that he caufes a Notary to obferve and note, that the Ac- ceptance is not limply given, but fupra Proteft. 3 . When Acceptance is demanded of a Bill that is made payable to Order, and endorfed by a fulfi- cient Man, if the Acceptant fcruples to accept it for the Account of the Drawer, or for the Account of him for whole Account it is drawn, he may, fupra ftoteft, accept it in Honour of the Endor- fer. 4. When the Acceptant doth thus accept fupra Proteft in Honour of the Endorfer, he mull caule a formal Proteft to be made for Non-acceptance, and Of Move) Weights , Me afore &c. 123 and he is obliged to fend the fkid Proteft to the Grid Endorfer, for whofe Honour and Account he hath accepted it. 5. An Acceptance fupra Proteft obligeth the Acceptor to an abfolute Payment, as much as if there had been no Proteft ; for it is all one to the Pofleflbr of the Bill for whofe Account it be accept- ed, if it be accepted at all and the Pofleflbr Lath his Redrefs and Remedy as fufficiently as ever on all the Endorfers and Drawers, if the Payment is not made at the precife Time when due. 6. A Pofleflbr of a Bill muft be iatisfied and contented with an Acceptance ftipra Proteft ( for it concerns not him in the leaft whether the Ac- ceptant gives a Ample Acceptance, or an Accep- tance fupra Proteft, feeing the Acceptor muft pay the Charges to the Notary Publick) excepting he has Orders from the Remitter not to accept of fuch an x\cceptance ; and then, in cafe of Refufal of a Ample Acceptance, he muft and may pro- teft. 7. When an Acceptant hath accepted a Bill fupra Proteft, and the Pofleflbr of the Bill is not fatisfied with it, and by the Notary and Witnefles demands a Ample Acceptance, or, upon Refufal, makes a Proteft 5 then the Acceptant, if he is de- termined not to accept Amply and freely, does wifely to renounce his Acceptance fupra Proteft, de firing that it may be fo infer ted in the Proteft, and be confidered as void and of none Effect, as if the fame had never been done. 8. No Man, neither the Pofleflbr, nor the Der mander of Acceptance, nor any third Perfon what- ever, may accept a Bill of Exchange, unlefs the Ac- ceptant; j 24 Hayes'/ Negotiator's Magazine ccptant refufes, or is not to be found, or hath left no Orders for the Acceptance. o. When the Acceptant will not accept at all, then the Pofleflor himfelf (after he hath protefted for Non-acceptance) may accept the lame fupra Proteft. 10. This a third Perfon may alfo do, that is not concerned in the Bill, whether the Honour of the fame Bill be recommended to him, or not, and that neither in Honour of the Drawer or any En- dorfer, or of the Perfon for whole Account it is drawn ; that is to fay, he may accept it, but ir muft be fupra Proteft. 11. An Acceptance fupra Proteft muft be done in this Manner : The Acceptant fupra Proteft, whoever he be, muft perfonally appear tafore a Notary Publick and Witncfles, arid there he mult declare that he doth accept fuch a protefted Bill in Honour of the Drawer, or Endoi fer, &c, and that he will fatisfy die fame at the appointed Time, and then he muft write under the Bill with his own I land, That he hath accepted it fupra Proteft in Honour of fuch or fuch a Perfon, 12. An Acceptance fupra Proteft may be made (o3 that though it be in Honour of the Drawer, yet it may alfo oblige the Endorfer ; and, in fuch Cafe, the Proteft muft be lent to the Endorfer : But thefe too cautious Proceedings of fome tend more to the Difcredk, than the Credit of the Drawer. 13. A Pofleflor of a Bill is not obliged to accept of the Acceptance of a third Perfon fupra Proteft, whole Sufficiency he fufbedts, feeing the Drawer obliged to fatisfy the Remitter in cafe of Non- acceptance i ( )f Money, freights, Meafures, &e. 125 acceptance ; but if the third Perfon will offer fuffi- ' cient Surety for the Payment of the Bill, then the Poffeifor mult be fatisfted, and content himfelf therewith. 14. A Poffeflbr of a Bill is not obliged to accept of the Acceptance of a third Perfon fupra Proteft, in Honour of any of the Endorfers, nor of the Drawer, if the Acceptant fupra Proteft will re- draw the fame on the Endorfer, or Drawer ; unlefs he declares, that the Honour of the Bill was re- commended to him by the Endorfer, or Drawer, or that he hath Effedts in his Hands of the En- dorfer's, or Drawer's, whereby he can fatisfy the Bill, without re-drawing on either the Endorfer of Drawer. 1 5. When the PoffefTor of a Bill hath accepted of the Acceptance of a third Perfon fupra Proteft, in Honour of the Drawer ; then the Drawer is in noways obliged to give any further Satisfaction to the Remitter. But if the Acceptance be made in Honour of an Endorfer, then the Bill, in refpect to the Drawer, is fo abfoluteiy protefted, as obliges him to give Satisfaction either to the Endorfer, in whofe Honour it was accepted, or to the Remitter, as if the Acceptance fupra Proteft had never been made. 16. When a Bill for Non-acceptance is proteft- ed, and afterwards by a third Perfon fupra Pro- teft, it is accepted, &c. and the defigned Accep- tant afterwards get further Advice and Order, and refolves abfolutely to accept it, and pay the fame ; then the Acceptor under Proteft may fuffer it, and yet the Poffeflbr mall not be obliged to free and * acquit him from his Acceptance, but the firft de- figned 126 Ha yesV Negdctators Mi jgazane figned Acceptant is obliged to pay the Acceptant fupra Proteft Proviiion and Charges, GV. becaufe by bis Acceptance iiipra Protelt, he hindied the Hill from being returned with Proteft. 17. Any Perfon that will, may fupra Proteft accept a protefted Bill in honour of the Drawer, dfe any particular Endorfer, that was before accepted fupra Proteft, in honour of fome particular Perfon, but later Endorfer ; and the firft Acceptant is ob- liged to allow of the lame, and yet remain obliged tor his firft Acceptance ; but the laft Acceptant i» obliged to allow Proviiion and Charges to the firft* for the above Reafcn. For Inftance : If there were three Endorsers, and one Man accepts the Bill fupra Proteft in honour of the lad, another may come and accept again in honour of the firft or fecond Endorfer. 18. Whomfoever accepts a Bill fupra Proteft, puts himfelf in the Place of the rirft defigned Ac- ceptant, and is as abfolutely obliged to make the Payment without any Exception ; and the Polfelfor hath the fame Right and Law againft fuch an one, as he would have had againft the rirft defigned Ac- ceptant, if he had accepted. 19. He that accepts a Bill fupra Proteft, ma) lawfully demand a Recompence for the Credit gi- MO to him in whole honour he accepted, as well as Provifion, Poftage, and other Charges ; and in «v :le the Acceptor mould be forced to re-draw the Parcel on him for whole honour he accepted, he ought truly and faithfully, without Contradiction, to accept and honour his fa id Acceptor's Bills, and return him Hanks for his Servkfc, 20. No Of Money, Weights y Me a far es^ &c. 127 20. No Man ought to accept a Bill under Pro- teft in honour of the Drawer, unlefs he has firft fpoken with the defigned Acceptant, and knows the Reafons why he fuffers it to be protefted ; but if the Acceptance be in honour cf an Endorfer, this Information is to no Purpofe. 2 1 . When a Bill is protefted for Non-acceptance, though the Drawer and his Hand be never fo well known, if the Perfon for whofe Account it was drawn be unknown, and cannot be found ; then no Man ought to be forward, or too liberal in ac- cepting the fame fupra Proteft in honour of the Drawer. 22. He that accepts a Bill under Proteft in ho- nour of any Endorfer, or of the Drawer, though it be without their Knowledge or Order, yet he hath Redrefs and Remedy on the fame Perfon for whofe honour he accepted ; who is obliged to in- demnify him, as if he had full Orders fo to do. 23. If a Drawer, or Endorfer, in whofe honour a Bill is accepted under Proteft, return an Aniwer to the Acceptor fupra Proteft, and approves of the laid Acceptance, then the faid Acceptor may free- ly pay the Bill, without further Proteft for Non- payment ; but if the Perfon in whofe honour the Bill was accepted is quarrelfome, and pretends he gave no fuch Order to him, or if he makes no Anfwer at all, then let the Acceptor fupra Proteft caufe a formal Proteft to be drawn againft the firft defigned Acceptor 5 and if the Notary does then return it without Payment, and the Acceptor fu- pra Proteft is forced to pay the Bill, then he muft order the Action, Ri. , and Law of the Bill to be ended and tranfported as fully to himfelf, as if 1.3 H a Y £ 8 *s Sl n-nciatofs Man v&ne o o he were the true PoflelTor thereof, that he may have Redrefs on the Drawer and Endorfer, in whofe honour he accepted, or on any of the for- mer Endorfers. 24. He that accepts in honour of the Drawer, hath no Remedy againft any of the Endorfers, be- caufe lie only obKgeth himfelf for the Drawer. 25. He that accepts a Bill in honour of an En- dorier, hath no Advantage of any Endorfer that follows the laid Endorfer for whofe honour he ac- cepted, but he and all that were before him, even to the Principal and firft Drawer^ are all obliged to him to make him Satisfaction. 26. When an Acceptant gets advice that a cer- tain Sum is drawn upon him, in two tirft^ or two fecond Bills, of one and the fame Contents, Date, and Sum, but endorfed to be paid to feveral ; let him accept of neither of them, neither freelv, nor under Proteft, in honour of the Drawer, unlefs he hath Letters of Advice of each particular Bill from the Drawer. Sect. XXI. Of demanding Payment. 1. HE Poffcffor of a Bill muft be careful \\ that it be fent to the Place where Pay- ment muft be made, in due Time, that at the Day of Payment the Money may be demanded and for fear the Poft fhould be uncertain, or de- tained by the Way, he muft never keep a Bill till the laft Moment, for fear the Day of Payment fhould be paft before the Poft arrives for if it is not 'Of Money, Weights, Meafures, &c. 129 hot demanded in due Time, the Proteft afterwards will be of no Ufc in recovering any Thing of the Drawer ; for the PorTeffor of a Bill is obliged at the Day of its becoming due, to demand the Monies ; and miift not give, nor admit of any Delays, more than the ufual Days of Grace. 2. He that takes a Bill from another, to de- mand Satisfaction, whether he be a Merchant or Banker, and negle&s to demand it at the Day of Payment, or within the Days of Grace, but lets them pafs without protefting, is obliged to make good the Damage that does, or may accrue thereby. 3. He that has a Bill in PorTeffion, which only fays pay, without mentioning the Time when, or that is not dated, or that is hot clear and legible written, payable fome Time after Date, Sec. fo that the precife Time of Payment cannot be calculated, muft be very circumfpect, and demand the Monies at any Time, when he can probably make it ap- pear, or it feems to become due. 4. He that hath a Bill fent him to demand Ac- ceptance, with Orders to keep the fame by him, till it be demanded by him, who (hall produce the endorfed Bill ; if the fame endorfed Bill is not produced, nor the Payment demanded before the Days of Grace are expired, he may demand of the Acceptor the Payment thereof, offering Caution, and Security, for producing the endorfed Bill ; and in Cafe of Refufal, he may proteft for Non- payment, and fuch a Proteft is of Validity againft the Drawer ; and yet if he that hath the Bill hath neglected to demand, or to proteft, is not blameable for £>~doing, nor any way refponfiblej but the K Detained i ; o Hayes ' j Segociators Magazine Detainer of the endorfed Bill may thank himfelf for his CarclefneK 5. If a Bill is not endorfed, or if the Endorfe- ment is not made right, or if there wants any thing in it, yet notwithftanding the Poffeffor of the Bill is allowed to demand Payment, and the Ac- ceptor is obliged to pay him on the Delivery of both the Bills, if the Poffeffor will under his Hand . and Seal oblige himfclf to procure a third Bill for the fame Sum, rightly and truly endorfed. 6. Becaufe many Times an Acceptor knows not to whom his Bills are payable, when they are made payable to Order ; therefore the Poffeffor of fiich a Bill is obliged to give timely Notice thereof : And it is the Cuitom amone Merchants of Credit and Repute, that trull one another in Holland ^ for the Poffeffor of fueh a Bill, at the Time of Pay- ment, to fend the accepted and endorfed Bill to the Acceptor's Houfe, and defire him to order the Value to be wrote off in Bank ; but according to a (pedal Order made fome Years pad, that no Poffeffor of an endorfed Bill in Amjlerdvn is ob- liged to give it out of his Hands, before he has re- ceived Satisfaction : For the Poffeffor muft, on the Day when the Bill ib due, declare to the Acceptor, that he is to have Payment by Virtue of the En- dorfement ; and in Cafe of Hernial, before the De- livery of the Bill, the Poffeffor muff carry it to one of the Book-keepers of the Bank to be regi- ftered, from whom the Acceptor mult fetch it, after he has ordered the Parcel to be wrote off to the Poffeffjr's Account, but not before, &c. 7. A Poffeffor of a Bill, payable to himfelf, or to Order, I. not obliged to part with his Bill be- fore Of Money i Weights, Meafures, &c. 131 fore it be effectually paid, or fatisfied ; and if he fufpedts the Acceptor, he muft not exchange his Bill for an Alignment, whether on a Banker, or any one elfe, but he may detain the Bill till the Alignment is fatisfied ; and if he pleafes, he may write on the Bill, that he hath received from the Acceptor, an Affignment or Note upon fuch and fuch a Perfon ; and moreover, 'tis to be obferved, if you part with your Bill, and the Money is not inftantly paid, you cannot eafily form a Proteft. Sect. XXII. Of the Acceptor's paying of Bills. 1. ILLS muft be punctually paid, according Jj t0 meir Time and Contents, in fuch a manner as is ufual and ordinary, at the Place where they are to be paid, unlefs there be fome certain expreffed Conditions mentioned in the Bill to the contrary. 2. The Payment of a Bill muft be made to the true and lawful PoffeiTor of it ; wherefore Ac- ceptors muft be very careful and circumfpect in the paying of their Bills, for fear of their being ob- liged to pay the fame twice. * 3 . If Payment is demanded by a fufpicious Per- fon, that cannot make it appear that he is the Perfon the Bill is made payable to, either origi- nally, or by the Endorfements -} or if he be a Stranger, and hath no Acquaintance, then it is moft advifable for the Acceptor to defer the Pay- ment to the very laft Day. K z 4. Ncj 1 3 z H a y E Sf j Negotiator's Magazine 4. No Bill muft be paid before it comes due ; if it be paid before, the Acceptor runs the Hazard and Danger that may enfue : Yet this is no Hin- drance to the Negociating and Endoriing Bills that are made payable to Order > however, the Acceptor mult not pay before the fame becomes due. 5. When a Bill is accepted, that is made pay- able to a certain Perfon named in the Bill ; if the faid Perfon defires the Acceptor to pay it to any other Perfon, and he, the Acceptor, promifes that he will, then he is obliged thereto, whether the Poffeffor mould in the Interim fail, or not. 6. When a Bill is made payable to a certain Perfon, as to him for whole Account it was re- mitted, as the principal Owner and true Proprietor of the Bill, he may revoke his Order, and caufe it to be paid to another Perfon ; and if his Order comes before the Payment is made, the Acceptor is then obliged to depoiite the Monies in other Hands, till fuch Time as it fhall be made appear, who of Right the Money belongs to ; or if he hath Orders from the Remitter, he may fuffer the Bill to be protefted for Non-payment. But when a Bill is made payable to Order, then the Remitter makes him, to whole Order it is payable, folc Mailer of the Bill ; who hath Power and Au- thority to dHpofe of it as he will, and die Ac- ceptor mull: pay it to his Order. 7. Bills that arc made payable at fuch a precife Day, are paid the lame Day by thofe that are punctual ; but if their Day of becoming due be calculated according to Ufance, or after the Date or Sight, the Payment is not ufually made till the D.iys of Grace are expired -, although the Payment may Of Moncj \ Weights, Meajuresj&c. 133 may be made the very fame Day without any the leaft Prejudice to the Payer. 8. Bills payable at Sight, or two or three DayS after, may be paid as foon as prefented, without Prejudice to the Payer ; becaufe it may be a great Prejudice to the PofTelTor of the Bill to flay for the Monies till the Refpite Days be expired. 9. All Bills muft precifely and punctually be paid, within the Days of Grace -y and thefe Days of Refpite, or Grace, are in fome Places more, in feme fewer ; and are introduced by Cuftom, or ordered by the Magiftrates ; and any PofTefTor of a Bill may fafely, without any Prejudice, wait to the laft of thefe Days, without protefting for Non- payment : Nay, in fome Places he is obliged to wait fo long. 10. The Days of Refpite, or Grace, at the prin- cipal Places of Exchange, are as follow : In Lon- don 3 Days, Holidays and Sundays inclufive; in Amfterdam, Rotterdam, Middleburgh and Antwerp 6 Days; in Cologn, Breflaw, Nuremberg and Ve- nice 6 Days, but the Holidays and Sundays are not included ; at Frankfort, out of the Fair, 4 Days ; at Leip/ick, out of the Fair, 5 Days ; and Augjburg 5 Days and, in all the Places above-mentioned, Bills payable at Sight muft be paid within 24 Hours : Naples 8 Days ; Dantzick and Koningj- berg 10 Days; Paris, Roan, Rochelle, Nantz, Bourdeaux, and all France 10 Days, Sundays and Holidays included ; Hamburgh 1 2 Days, Stockholm 12 Days, Portugal 6 Days, Spain 14 Days, Genoa 30 Days : But in Italy there are no Days of Grace allowed, but the PolTerTor of the Bill may proteft ' ? or not proteft, according to his Difcretion. K 3 ix. An 1^4 H a yes\t Iscgociators Magazine 1 1. An Acceptor muft pay no Money upon the fingle Advice of a Drawer, though it be exprelly laid payable to a certain Perfon, unlefs the Bill is likewifc prefent, and accepted. Nor muft a Bill, payable to Order, be paid to any but to the Perfon to whom by the Endorfement it appears to be due. 12. An Acceptor may pay to him to whom an unaccepted Bill is endorfed, though the accepted Bill be not endorfed to him ; but then both the accepted and endorfed Bill mull be delivered to him ; but he muft be mindful that the accepted Bill is not endorfed to another Perfon : Nor will a careful Acceptor pay any Bill, that is payable to Order, but upon the Delivery of the accented Bill. 13. When a Bill payable to Order is not ac- cepted by himfelf, nor by any other, is offered by the Perfon it is endorfed to for Payment, the Ac- ceptant may pay the fune at the Time of Pay- ment ; provided the Perfon prefents the firft and fecood Bill ; and he having fatisfied one, he is not obliged to fatisfy the other, although it be made payable to another, or endorfed upon another. 14. If at the appointed Day Payment is de- manded for two firlt or two fecond Bills, both of one Sum and Date, and to the fame Prefenter, Pofleflor, or Order, and payable at the fame Time ; and the Acccptant hath only Advice from the Drawer, that he drew but one Sum of him; if neither of the Bills be accepted, then he muft be very circumfpect in paying; and may, if they be both in cue i find, fatisfy the one, and receive the Bills ; but if they be in two different Hands, or endorfed Of Money y Weights^ -1 Teafuresy Btc 1 3 5 endoried to two feveral Perfons, then it is better to fuffer both to be proteited • and mult upon no Account fatisfy either of them, but upon furricient Security for the Reftitution of the Sum that he pays, if it be to a wrong Perfon, together with the Re-exchange and Charges. 15. Though a Bill be made precifely, payable to a certain Perfon, yet without any Prejudice, the lame may be paid to the Order of that Perfon. 16. If a Bill is payable to divers Perfons, the Acceptor mult pay the fame to no one Perfon, but to them all, or to the Order cf them all. 17. No Bill can be difcounted, or other ways fa- tisfied than in Monies, without the voluntary Con- tent of the Poffleflbr. iS. An Acceptor is not obliged to pay the Bill he hath accepted to the Preienter thereof, though it may be payable to Order, unlels it be endoried to him ; and in Cafe any thing material in the Endorfement be wanting, he may demand iufii- cient Security of the PoUeffor or Preienter, that none hereafter (hall have any Demands upon him for the fame Bill. 19. He that hath accepted a Bill under any Li- mitation or Condition, is not obliged otherways to fatisfy it, than according to the faid Conditions, or Limitations. 2c. Though the Days of Grace are expired, a Proteft may be entered, and the Day when the Bill is due is counted part of the limited Time ; but it is better to proteft within the three Days at Louden : And although the Days be expired, > Proteft mull be made if the Monies are not re- ceiv'd; becaufcj without a Proteft, no further K 4 Courfe 136 Ha YES V Negoc/ators Magazine Ccurfc can be taken at Law, neitlier againft the Acceptor, nor Drawer. 21. If a Bill is made payable pofitively to fuch a Perfon, and not to fuch an one, or his Order -9 then an Affignmcnt of a Bill will not ferve the Turn, but the Monies muft be paid immediately to that Man, and to no other, elfe the Acceptor may be forced to pay it twice : Nor is it fufficient that fuch a Man write his Name in Blank, on the Back of the Bill, unlefs the Man appears himfclf in Perfon. 22. An Acceptor may pay, though the Time, according to the Tenor of the Bill, be expired ; and if the Poffeilbr will not receive it, nor dilcharge it, the Acceptor may make a Tender, or depofite the Money ; and then if the Poffeffor protefts, the Drawer mall have no Damage. Sfct. XXIII. Of Vrotcjling Bills for Non-payment I . rTTv H E PoffefTor hath no Redrefs on the \i D rawer, nor on the Endorier, unlefs he can make it appear, that he made diligent De- mands of Payment before the Days of Grace were expired, but could procure none, and therefore did protcft for Re-exchange and Charges within the limited Time. . Though the Acccptant is abfolutely to pay Bills lie accepts, yet at the Day of Payment Money cannot be demanded, nor exaftcd with *: m from him, if the Drawer or theEndorfers are fufficientMcn, and of good Credit ; but the Pof- feffor Of Money, Weights, Measures, &c. 137 feffor muft firft try if he can procure the Value? the Charges, and Re-exchanges, from the firft Drawer, or Enciorfer, peaceably and quietly. 3. In moft, or all Places of Exchange, it is or- dered as a Law, that in fuch a Number of Days Proteft fhall be made for Non-acceptance, or Non- payment, if the PoffefTor would preferve his Right againft the Drawer, or Endorfer. 4. Before any Man can proteft for Non-pay- ment, a Demand of the Money muft be made, in the limited Time, by the PoffeiTor, or his Ser- vant, or by fome other Perfon in his Name ; and then if the Payment does not follow thefe De- mands, it muft folemnly be demanded by a No- tary and two WitnefTes. 5. This formal and folemn Demanding muft, at furtheft, be on the laft Day of Grace ; but if it falls on a Holyday, or Sunday, it muft be de- manded the Day before, it being then fafeft to proteft. 6. Payment of Bills, that are not accepted, nei- ther fimply nor under Proteft, may be demanded at the Day when they fall due ; and if it be re- fufed, a new Proteft muft be made for Non-pay- ment, and both Bill and Proteft may be return- ed. 7. When a Bill is payable after Sight, or at any certain Day, and is not prefented till after due ; if Payment be then denied, the Proteft muft be made on the laft of the Days of Grace, for Non-pay- ment. 8. If the Acceptor pays a Part of a Bill, and promifes to pay the reft in a few Days, within the Days of Grace; if he does not in that Time fa- tisfy 128 Hayes / Xeg-ocii no, ?s M wazine tisfy the whole, the Pofleflbr may proteft for the whole, and is not obliged to return what he hath received to the Remitter, but he muft demand of the Drawer, &e. the Re-exchange and Charges for the Remainder, that was not fatished. g. If an Acceptor is unable, or unwilling, to pay his accepted Bill, and the Pofleflbr is obliged to proteft againft him, and he returns Anlwer, that he is willing and ready to pay part, and that the Pofleflbr for the reft may proteft, and return the Bill, ifheplcafes; the Pofle (Tor is to blame, if he refufes this Offer, be it more or lefs ; but yet lie muft proteft for the whole. 10. If an Acceptor of a Bill ihould prove infol- verrt, or fuch a Thing is reported of him, fo that he abfents himfelf from the Royal Exchange, or there be juft Grounds to believe that he will fail before the Bill falls due ; the Pofleflbr of the Bill may demand better Security by a Notary, and if that is not given, he may proteft, and fend the Proteft away by the next Poft ; and when the Bill is due, if it be not paid, he muft fend the other Proteft away for Non-payment. 1 1. A Bill protefted for Non-payment, being di (charged by the Drawer, dilcharges the Drawer, and the Acceptor, from the Remitter and Pofleflbr, or any other \ but the Drawer has the fame Right againft the Acceptor. 12. If a Drawer fails, and the Bill is accepted, the Acceptor is obliged to make good the Value, nor has he any Redrefs againft any of the Endor- fijTBj and the Cafe is the fame with an Acceptor (ispra Proteft, in honour of an Endorfer, if that Endorfer fails, he has no other Remedy. IS, If Of Money y Weights > Mtajkres, &c. 1 3 9 12. If an Acceptor fails, the Poffeftbr is not ob- liged to wait till the Days of Grace are expired, before he makes Proteft, but may do it fooner, if he pleafes, after he knows of his Failure, and he muft prefently give Advice thereof to the Remitter ; or elfe the Drawer is not obliged to pay Intereft, and Charges : Nor is there, nor can there be any Dan- ger in proteiling Bills before the Days of Grace are expired ; but becaufe the Days of Grace are un- certain in many Places, it is therefore the fureft Way to proteft by times, than to hazard the Lofs of the Law by too long Delay. Sect. XXIV. What the Drawer and Endorfers of a Bill returned with Proteft for Non-payment, is further obliged to. 1. ' 1 ^HE Acceptor cannot be compelled to the JL Payment of a Bill, unlefs he has accept- ed it j nor the Drawer nor Endorfers to the Refti- tution, unlefs the Bill be returned with the Proteft for Non-payment. 2. The Drawer, or Endorfer, is obliged, at the producing of the Proteft ( if it be in all Circum- ftances rightly made, and in the right Time, ac- cording to the Laws and Cuftoms of the Place, where the Payment was to be made ) to give pre- fent Satisfaction, which confift in the Re-payment of the Value, the Re-exchange and Charges ; as , Brokerage, Provifion, and for the Proteft and Poftage. 3. When 140 Hayes j Negotiators Magazine 3. When the Value of a .Bill is re-drawn, aug- mented with all the Charges ; then the Drawer, and Endorfer, are obliged to pay the re-valued Sum, though the fame was not taken at the loweft Price ; and fo, in like Manner, when the Re-va- luer, or Re-drawer, hath negociated a Bill with any other, which is payable to a third Perion : But if he difcounts the Sum, and makes it payable to the Remitter, then the Drawer, or Endorfer, need pay no more than according to the Price at that Day ; but if on the Day the Proteft was made, nor on the Poft Day after, there was no Price made upon Sight, but only at Time, or Ufance -y then the Price upon Time mull be reduced to the JMcc upon Sight, by fubftracting a reafonable In- lereft from the Price upon Time, unlefs the Re- mitter agrees that the Time fhall run out before the Payments fhall be made. 4. The Drawer and Endorfer are obliged in the Reftitution of the Value, according to the Price of Exchange., though the full Sum of the Bill is not re-drawnJ but they are obliged to no more than according to the laid firft Price of Exchange it was done at ; and they are moreover obliged to repay Proviiion, Poftage, and the Charges of the Proteft, though the full Sum be not re-drawn. But for the rrovifion that the Drawer muft pay his own Bill under Proteft, that is one half to the Protefter, and the other half to the Remitter, (jc. 5. The Drawer of a Bill payable to Order is no further obliged (though the protefted Bill were endorfed in feveral Places, and returned the fame Ways) than in the Payment of the Re-draught from the PI ice where the Bill was to be paid, di- Of Money, Weights, Meajures, &c. 141 reftly to the Place where it was drawn, and at fuch a Price as it was at in the Time of protefting ; and fo the Endorfers are no further obliged, than in the Price of Re-exchange from the Place where it was to be paid, to the Place directly where it was endorfed from by them. 6. When a Bill is fucceffively endorfed by feve- ral Perfons in one Place, and it is returned with Proteft to the laft Endorfer, he is obliged to make Satisfaction inftantly, either himfelf, or by fome other Endorfer, before him, or for him ; and if he pays and fatisfies it himfelf, he is not then to demand Provifion or Charges from the other En- dorfers, or Drawer in the fame Place, nor for any more than he himfelf hath actually paid. 7. The Remitter, or Pofleflbr of a Bill, pro- tefted for Non-payment, is not obliged to com- pel the Drawer or Endorfer of a Bill to make Reftitution, if he had rather feek his Redrefs on the Acceptor ; and fo, on the contrary, he is not obliged to look on the Acceptor, when he had ra- ther feek his Redrefs on the Drawer, or Endorfer ^ nor is he obliged to give them any Time for the Payment, but he may, if the Payment is not punctually made, proceed againft which of them he pleafes, according to Law. 8. No Drawer, or Endorfer, is obliged to make Reftitution of the Value of a Bill at the Sight of the Proteft alone, nor at the Sight of the Proteft and unaccepted Bill, when one of them hath been accepted ; but he is obliged to give Caution and Se- curity to the Remitter at the Sight of the Proteft alone, and to make Payment when the accepted Bill and the Proteft are prefented together. 9. At 14- HayesV Kegociators Mdgazhie 9. At the prefacing of a Proteft for Non-pay- ment made before the kit refpite Day, if the Ac- ceptor hath not abfolutely denied Payment, but only defired Delay to the laft Day, and if the Drawer can prove that the Acceptor, or a third Perfon, fupra Protelt, would have paid the fame, he is not obliged to give any Caution, or Security, much lefs to repay the Re-exchange and Charges ; becaufe if the Bill had remained to the laft refpite Day, it had been paid at the Place of Payment. 10. Nor is any Drawer, or Endorfer, obliged to pay the Re-exchange of an accepted Bill, if the Proteft was not made within the refpite Days. 1 1 . If the Payment of a Bill is demanded on tbe Day it becomes due, and the Acceptor is com- ma ndcd by proper Authority not to pay it, the PofTeffor for all that may proteft for Non-payment, and the Drawer is obliged to pay Re-exchange ; but if by any accidental Occurrence the Payment is retarded, or cannot be demanded, as fuppoiing a City lis befieged, and the PoiTeiror is not allowed to go in, and make his Demands ; in this Cafe, the Drawer is not oblio;cd to make Reititution, but the v/hole Sum runs upon the Rifque and Ha- snrd of th e Pofleflbr, or Remitter of the Bill. J2. If ithe Endorfer unadvifally makes Rcilitu- tion for a Bill that is protefted for Non-payment, after the refpite Days, and the Drawer refufes to make him Satisfaction; then the Endorfer hath no other Rcdrci s, but to demand Reltitution of the fame again i\ om the Perion, to whom he paid the Value. 1 3 . When the Drawer bath paid the Value of a Bill, that was returned pffolefted for Non-pay- mcnt3 Of Money, freights, Meafures, &c. 143 ment, the Drawer is thereby difcharged againft all Parties to whom the faid Bill was made payable, either immediately in the Bill, or mediately by Af- fignments, were there never fo many -} nor can any one anyway moleft or trouble the Drawer, nor can any of them profecute the Acceptor on that Account j but the Acceptor is not totally dif- charged thereby, if the Bill were for the Drawer's, or any other's Account, to whom the Acceptor ftands refponfable. Sect. XXV. When a Bill is fuffered to be pro- tejled for Non-payment, and to be returned with the Proteft. 1. TF the Acceptor at the Day of Payment re- fufes to difcharge fuch a Bill as he hath ac- cepted, and if the Bill is returned again to the Drawer with the Proteft, to demand Satisfaction, and the Drawer refufes to pay the fame, but re- turns the Bill again -> then the PofTeffor has as much Right and Law againft the Acceptor, as againft the Drawer himfelf, (Sc. 2. Though the PolTelTor of a Bill, that is pro- tefted for Non-payment after the refpite Days are paft, hath no Redrefs on the Drawer ; yet not- withstanding, if the Drawer is yet in Credit, the Acceptor cannot be compelled to make Satisfaction, till the Bill is fent with Proteft to the Drawer, and is again returned on the Acceptor. 3. A Bill made payable for the Account of the Drawer himfelf, being not paid at the due Time, but i 44 H A y E S V Xcgoc/ators Magazine but protefted for Non-payment, need not be re- turned on the Drawer, but the PolfelTor may in* ftantlv, without Delay, compel the Drawer to make Satisfaction wherever he finds him. 4. An Acceptor of an endorfed Bill, protected for Non-payment, cannot be protefted againfi: by Arrcfls, and Attachments, if any one or all the Endorfers refufe to make Satisfaction, unlefs the Drawer himielf alio refufes to do it, and this be proved by good Evidence. 5. The Acceptor of a Bill, returned with Pro- tell for Non-payment, and again returned on the Acceptor, is only obliged to pay the Exchange, Re-exchange, Provifion, and Portage, and no other Ciiarges. 6. The Exchange is reckoned according to the Price at Sight, at the Time, and in that Place, where the Proteft is made, to the Place where the PaymcLin mult be made by the Drawer -y and if it be not paid there, then the Sum is again in- creafed, with the Provifion and Poltage ; and then the Price is reckoned again upon the whole Sum, according as it (hall be at that Time and Place, upon Sight, to the Place where the Bill is to be paid, and the Acceptor is obliged to pay the Re- txchange, and all the Charges, although the Par- fid was not ctfedtually negociated and re-drawn; that is to fay, the Re-exchange, Provifion, and Poftagc, mull be twice paid, &c. As Piovifion twice tor the Exchange and Re-exchange; the Charges are no more than Pollage, and for the Proteils; unlefs the Acceptor, by Delays and Ex- cuk 5, forces the Pollelfor of the Bill upon fome unncccllary Charges, which the Acceptor is obliged to Of Money ) JJVights^ Mcnfures^ &c. 1 45 to pay ; bat no extraordinary Charges, as for tra- veling, bribing, nor fpending. j. The Acceptor is obliged to pay Intereft, if lie does not prefently fatisfy the returned Bill, which is to be reckoned from the Day the Bill became due, to the Time of its being difcharged, for which the Poffeflbr may charge thereon 5 per Cent, per Annum, for Intereft, at this Time in England. S. Though the Notarv Publick does declare, and in the Proteft expreiTes, that he protefts for all Damages, &c, that mall accrue ; yet no Acceptor is obliged to make good any Lofs, or Damage, but what is above fpeciried ; nor can the PoiTeffor with any Law or Equity, compel the Acceptor to make good any Lofs, or Damage, that he pretends to have fuftained, for want of punctual Payment : as the Lofs of fome convenient and profitable Oppor- tunity, or any fuch like Thing. 9. No prudent Man will not (fupra Proteft) ac- cept, and pay or fatisfy, any Bill that is returned uniatisried from the Drawer, unlefs he has exprefs Orders to do it in his Honour. 10. Though the PoiTeifor of a Bill proteftedand returned from the Drawer unfatisfied, hath there- by a Law and a Right againft the Acceptor, and may proceed againft him by Execution, Qfa yet he is not obliged thereto, but he may, at the Ac- ceptor's Requeft, fpare him, and feek for Redrefs, firit againft the Drawer, unlefs he has exprefs Or- ders to die contrary, 1 Sect. 1 46 Hayes; Negotiator's Magazt?ic Sect. XXVI. Of fubfcribwg a fecond or a third Bill 1 . II THEN the Drawer is not acquainted yV with the Remitter, or the Remitter queltions the Drawer's Sufficiency, it is ufual, at fuch Times, for a Drawer to make his Bill pay- able to fome Friend of his, who will endorie the Bill, with whofe Sufficiency the Remitter is iatis- fied. 2. But in cafe the Friend is not willing to en- dorfe, or the Drawer will not afk it of his Friend, then it is ufual and cuftomary for that Friend to fubfcribe the fecond or third Bill. 3. He that fubfcribes a fecond or third Bill, cloth only fubfcribe his Name under the Drawer's, without adding a Syllable more, and thereby he doth as fully and amply oblige himfelf as the prin- cipal Drawer doth. And no Broker mould pro- mife the Remitter, that any other Friend lhail fub- fcribe the Drawer's fecond or third Bill, unlefs he knows for a Certainty that it will be lb. 4. If in the Contract, the Drawer limply nego- tiates in his own Name, and does not promile that any other fhould underwrite for him, or the Re- mitter does not exprclly condition tor it \ then the Drawer is not obliged, at the Requelt of the Re- mitter, to procure any to fubfcribe his Bills. c. By fubfcribing under a fecond or tiiird Bill, the Subicriber doth only oblige himfelf to the Re- mitter, and to him to whom he gives the fecond> or Of Money y freights , Meafures, &c. 1 47 or third B;ll, which is by him fubfcribed : Thus, if die Remitter, or any other, keeps a third Bill, and the PolTeflbr of the rirft and fecond Bills, which are not fubfcribed, would feek for Redrefs upon the under Subfcriber, he cannot, for want of the third fubfcribed Bill. 6. Becaufe the fubferibing of the fecond, or third Bili, is only for the Remitter's Security, and is to the Drawer's Difcredit ; therefore not to leffen the Credit of the principal Drawer, the fame is ufually concealed, and not divulged : nor ought the fub- fcribed Bill be fent away to any other Place* 7. Becaufe the Bills drawn on Venice muft be done directly, and made payable by fome there, there being fome that give and take, or remits and draws, at one and the fame Time in the fame- Day, who do make ufe of this Method : They order their Drawer to make his Bills according to their Directions, the Value from them received ; and for their Security they fubferibe the fecond, or third Bill. But a Drawer that understands this Bufinefs, will judge that he is noways obliged to make any Bills, but fuch as make the Value to be received of the Remitter, to prevent the fubferibing a fecond or third Bill. 8. The Bill fubfcribed by another being fatisfied, fhould be again delivered to the principal Drawer, who in the firft Bill acknowledged^ to have re- ceived the Value of him ; and the Remitter is very imprudent, if he pays the Value to the Subfcriber, though he contracted with him, and looks more upon the Subfcriber than the principal Drawer. 9. He that fubferibes a fecond, or third Bill, does wifely, if he, on the Day of Payment, en- L a quire j 4 S H a y e s'j* NegocL not Js ^ L Jgaxanc quire of the PofTefibr, or Remitter, whether the Bill i^ latisfied, or not, that he, for his Security, may have the fubfcribed Bill cancelled or re- delivered. Sect. XXVII. Of exchanging for Account \ and in the Name of a third Per/on, by Procuration. j.TTTHEX an Exchange is made in the V V Name, and for the Account of a third Perfon, it is when any one negotiates, or makes an Exchange in the Name of another, by Order, Power, and Authority, which lie receives frcin the faid third Perfon ; and this, among Merchants, is called Procuration: For, by this Means, Bills may be drawn, fubfcribed, endorfcd, and accept- ed, not in the Name, or for the Account of him that doth draw, fubfcribe, endoiie, and accept, but in the Name, and for the Account of him that authorifed him lb to do. 2. Great Prudence is to be ufed in giving any Man full Power and Authority by Procuration, to draw, or accept of Bills of Exchange ; for he that i credited fomuch, is credited with the Credit and Ellate of him that appointed him, his Welfare is in his Procurator's Hands. 3. A prudent Merchant will be warv and care- ful in granting luch a Power to any one, and will advife all his Correspondents, efpecially thofe whom his Procurator may have CXcai:on to make ufe of, and let them know in hib own Hand-writing, that he gn Med to fush and luch a one, fuch a full Power OfMovey, Weights , MeaJkresyotc. 149 Power to draw in his Name Bills of Exchange, and delire them to give Credit to his Subfcrip- tions, till he revokes, or fhall make void, his faid Power, 4. He that by Procuration in the Name of ano- ther, bona fih\ does Negociate, Draw, Endorle, Subfcribe, and Accept Bills of Exchange, by un- derwriting his own Name, and his Quality, does thereby as effectually oblige his Principal (himfelf being in the mean time not in the leair engaged) as if the Principal himfelf had fubferibed. 5. He that Negociates, Draws, Accepts, E11- dcrieth, fife. Bills of Exchange, in the Quality of a full Power, and Procurator in the Name of ano- ther, is obliged at all Times to prove his Quality ; and if he can't do that, nor hath that full Power he pretends to, is not only himfelf to perform all that he hath negociated with others in the Name of the laid third Perfon, but is liable to be pu- nched as an Impoftor. 6. A prudent Remitter will receive no Bills, nor a wife Poireilbr no Acceptance, that is fubferibed by the Wife of the Drawer, or Acceptor, or by their Servants, or of any other but fuch as have full Power, and Inftruclions, and Procuration, or of fuch as are every way as able and fulficient as the Drawer or Acceptor himfelf. 7. A prudent Remitter, or Endorfer of a Bill, will look narrowly to fee if the Procurator is fuf- ficiently impowered, and that his Power is not an- tiquated, out of Date, or recalled, or taken from him. 8. He that negociates Bills, &c. as a Procurator, ihould., before he concludes the Parcel, exprefly L 3 condition 1 5 o H a y e s j Negm ii itors A L tgazixb condition that the Bills fhould be fubfcribed by him, as having: full Power and Authority from the principal Drawer 5 and if this is not cxprelly agreed upon, the Remitter is not obliged to take fuch Bills, nor to fearch into the Validity of his full Power, or the like, but may refufe to give him Monies, or to receive his Bills, if he has a mind not to take them. 9. The PofielTor of a Bill muft accept of the Procurator's Acceptance, if the Inftrument of Pro- curation exprefly declares that all Bills accepted by him are for the Account of the Principal ; or efpe- cially, that fuch and fuch Bills as the PolTcflbr hath are for his Account : But if the Procuration is not clear and exprefs in this Particular, then the PoiTef- for is not obliged to take Acceptance from any, that he doth not look upon to be furrkient. 10. He th:;t hath the fall Power to draw Bills cf Exchange in the Name and for Account of a third Perlbn, hath alio Power to draw in, and endorfe all Bills of Exchange, that are made pay- able to the Order of the (aid Principal. 11. A Merchant's Word, or Letter, to his Wife, Friend, Servant, or other Pcrfon, to accept Bills of Exchange, is not fufficient, without an Inftrument, or formal full Power, with Hand, Seal, and Witneltes ; but for want of fuch Instru- ment, if it can be proved that his Wife, Friend, pr Servant, have ufed formerly to accept Bills in his Abfencc, and that at his Return Home, that lie has approved of the fame, it will come very clofe to the Matter, and be near as good as a legal and formal Inftrument 9 F CT. Of Money ) freights, Meafures, &c. 151 Sect. XXVIII. Of Bills of Exchange loft. 1 . II THEN Bills are made for a Sum of V V Money, two or three are ufually made of the fame Tenor, that if one be loft, the Re- mitter, or PoffefTor, may make ufe of the o- ther. 2. When the Poft goes uncertainly out to any Place, on which the Exchanges are made, or by Sea ; or when the Remitter orders Bills to be made payable to his Order, with defign to fend the firft direftly to the Place to get accepted, and to draw in the other fome other Way, by endorfing, &c. then three or four Bills may be made. 3. When the Remitter declares to the Drawer, that the Bills he received are loft, and that he can't find them, and de fires the Drawer to repay the Value to him, offering to fecure him from all Damage for the future ; then the Drawer does ve- ry imprudently if he does it, though the Money were for his own proper Account, and he could otherwife do it with little Inconvenience to him- felf, becaufe the Remitter muft be content to take new Bills ; nor can he compel the Drawer to re- ftore the Value. 4. And in giving new Bills, the Drawer muft ufe Prudence and Care, to fee that his new Bills be made of the fame Tenor and Date of the for- mer, with only adding this Difference, that if he; had given a firft and fecond Bills before, he now follows the Number, and gives a third and fourth L 4 Bill, i k z Hay e s'j- NcfocL \toi ?s A fajraziric Bill. And yet no prudent Drawer will (after the Day of Payment of his former Bills) give his He- mitter a third and fourth Bill, unlefs the Re- mitter gives fufheicnt Security to indemnify the Drawer. 5. It is the Duty of all PolTeftbrs of Bills to have a fpecial Care of their Bills, and to keep them fife; and a prudent Merchant will, upon Receipt of any Bill with blank Endorfements, h\{ them up, and perfect them, left they (hould be loft. 6. As fcon as a Pofiefibr obferves that he hath loft a Bill, at leaft, before it falls due, he ought to advife the Acceptor, thereof, that he pays it to none, but to himfelf, or his Order and if any other comes to receive it, to take notice of the Bearer, and to flop the Payment. 7. When the rirft accepted Bill which is pay- able to Order is loft at the Place of Payment, and the Party to whofe Order it is payable would draw in his fecond Bill, again it the Day when due, but cannot find the hrft accepted Bill, baling loft it, and has no third nor fourth Bill from the Drawer, nor cannot get a third or fourth Bill from him, he being dead, or ablent ; yet the Parcel may be drawn and negociated, if the Endorfer (in cafe hi- Hand-writing and Seal be unknown to the Accep- tor) does lend a full Power and Letter of Attor- ney to him to whom he would have it payable, to receive the fame : But if the Endorfcr's Hand is web known, and he himfelf to be credited, then an Order in Writing to the Acceptor to pay to fad) an OQC is fufricient, be engaging to fecure the Aecey, tor from all Dama-c, &c. 8. But Of Money, Weights y Mcafures, &c. 1 5 3 ,8. But then alfo, a prudent Acceptor will pay- no Bill that is payable to Order, though by him accepted, if the fame, or another of the fame Tenor, is not endorfed as it mould be, and fhewn to him s no, not upon the Order of him whom the Remitter and Endorfer hath impowered, till the very laft refpite Hour ; and not then neither, but upon the Delivery and Surrender of his accept- ed Bill. 9. When any hath loft a Bill, that is accepted, payable to Order, the fecond whereof being un- accepted, is regularly endorfed, and come to the Hands of him to whom it is payable ; when he prefents this fecond Bill, if it be on the Day when it is due, the Acceptor is obliged to pay the fame, if the PoiTefTor of this fecond Bill gives Security, to deliver up the accepted Bill, or to indemnify him from all future Demands of the faid Sum, upon Account of the faid accepted Bill. 10. When any Perfon miffeth his accepted Bill, whether diredly payable to the PofTefTor, or his Order, and the PofTefTor thereof pretends that he hath loft it , or if the PofTefTor hath Advice from his Remitter, that he hath remitted him at Sight fuch a Sum, in fuch or fuch a Bill, &c. and when he opens the Letter, he finds no fuch Bill ; or if he receives not the Letter, wherein the Bill was en- clofed, but hath Advice thereof by the next Poft, and finds that the Day draws near for paying, then he may demand Payment, upon his Letter of Ad- vice, offering Security to the Acceptant, to free and difcharge him from all future Demands of that Sum, upon Account of the loft Bill : And if the Acceptor will not then comply, then he can affign i54 Ha yes r Negocii itors M< %gazint the Value upon him ; and if he refufes this, he may proteft tor Re-exchange and Charges. j i. When an accepted Bill, protcfted for Non- payment, is loll, the Drawer is not obliged to make good the Re -exchange and Charges, nnlefs he gets filffiocnt Security to indemnify him, and free him from all future Demands, with Promife to reftore the Sum w ith Intereft, that the Drawer paid for Re- exchange and Charges, in cafe the Bill pre- tended to be loft lhould afterwards be paid by the Acceptor, or bv any other, under Proteft. 12. When an accepted Bill is loft, or cannot be found, then the Remitter or PofTeiTor cannot proceed again ft the Acceptor by prefent Execu- tion, nor againft the Drawer ; but they muft make ufe of the common Means and Methods, as if it were forae other kind of Debt; for a Proteft can- not be made, but upon an accepted Bill. i The Security for the Discharge of thofe that pay accepted but loft Bills, fhould be limited to a certain Time • alter the Expiration whereof, the Security lhould be void, i a. It is advifable for the Party that lofes the Bill, to go inftantly to the Acceptor with a Couple erf Witncifes, and a Notary, to lignify the fame to him, and to charge him at his Peril, to pay it to none but thole he lhall order. i j. And it is advifable for no Man that hath accepted a Bill, to refufe to pay the fame, becaufe i lie Bill is loft, provided the Owner offers fuffi- cient Security to lave him harmlefs ; for if a Pro- teft i made for Non-payment, the Acceptor being thd wilful Occ&fion thereof, is obliged to make ood al! the LoK Re-exchange, and Charges. 16. Suppofe Of Money, freights, Meafures, &c. 1 5 5 16. Suppofe the firft accepted loft Bill was made payable to him that loft it, and the feccnd un- accepted Bill mould be made payable to another Man, and the Money is really paid when due to him to whom the firft accepted, but loft, Bill was payable, the Payment is good and warrantable 3 and the PofTetTor of the fecond Bill can have no- thing to lay to the Acceptor. 17. Suppofe the prima accepted Bill was found by a Stranger, who demands the Money in the Name of the Party it is payable to ; or that the true Pofleflbr mould have ailigned it over to ano- ther Man, and taken up the Value ; yet this all fignifies nothing, if it comes after Time, and the Money has been paid to the Party it was payable to (though without the accepted Bill) and he having good Security to be faved harmlefs. 18. In cafe a Bill of Exchange is loft by the Acceptant, with whom it was left for Accept- ance, or it hath been given to a wrong Party; or in any other Cafe, if the Owner cannot have his Bill again, accepted, or not accepted : In luch Cafes, the Party that loft the Bill muft give his Note (for the Payment of the Money when the Bill falls due) to the Owner of the Bill, or his Order, upon the Delivery of the fecond Bill, if it comes in Time ; or upon that Note, if it comes not in Time : If the Acceptor refufes this, Pro- teft muft be immediately made for Non-accept- ance ; and then again, when due, the Pofleflbr, though he hath neither Note nor Bill, muft de- mand the Money; and if not paid, proteft for Non-payment, Sect, 156 Hayes'/ Negotiators Magazine Sect. XXIX. When any Perjbn dies concerned in a Billy what is necejjary to be done. i.TF a Bill is accepted, and the Acceptor dies J[ before the Day of Payment, yet there muft be a Demand made of the Executors or Admini- strators j and in Default, or Delay of Payment, a Proteft muft be made : And though it may tall out, that the Monies may become due before there can be Adminiftrators, or the Probate of the Will be granted, that is fufficient Delay for a Proteft, in Cafe of Non-payment ; fo that if the Acceptor dies before the Bill becomes due, you muft at the Time it falls due demand the Money of his Exe- cutor, Gv. at his laft dwelling Houfe, or Place of AbodG^_and upon their Refiifal, or Delay of Payment, you muft proteft for Non-payment, in the fame Manner as you would have done if the Party had been living, and had not paid it at t'he Time it fell due. 2. But if the Party dies the Money is payable to, and the Monies are ready to be paid, and there is no Perfon can give a legal Difcharge, a Proteft ought not to be made for Non-payment^ becaufe there is no Perfon hath Authority either in Deed, or in Law, to make it ; and a Notary ought not to make it; if he does, and the Party hath re- ceived any Prejudice thereby, an Action of the Cafe perhaps may lie againft him for his Pains : Nor does it avail, that Security be offered to fave him harmlefs, againft the Executors or Admini- strators Of Money, freights, Meajwes, &c. 157 ftrators of the Deceafed, for that is an A£t left to his own Difcretion 5 for perhaps the Security may not be liked : But whether it be good or bad, makes nothing as to oblige him in Law. Sect. XXX. What Acceptance is nece[Jar\\ when a Bill is drawn on two or more ~Perfons. j. A Bill drawn on two jointly, muft have a joint Acceptance, e contra \ and if the fame is accepted by one, and it is according to the Tenor of the Bill, it ought not to be protefted, only in cafe of Non-payment ; and in that Cafe, the Acceptor is liable to make the fame good : But if it be on joint Traders, an Acceptance of the one will bind the others. But the fame will be otherwife, if a Bill of Exchange comes directed to two, or more Perfons, in thefe Terms : To Mr. William Sayer and Mr. George Goodwin, Mer- chants in London ; in this Cafe, both Sayer and Goodwin ought to accept the Bill ; or elfe, if one of them does accept it, and the other refufes to ac- cept it, that Bill muft be protefted for want of due Acceptance : But if the Bill is directed thus, To Mr. William Sayer, or Mr. George Goodwin j or thus, To Mr. William Saver, or in his Abfence to Mr. George Goodwin • or if they mould be joint Traders and Copartners, To Mejjieurs William Sayer and George Goodwin 3 or, To Mr. William Sayer and Company ; in this Cafe the Bill being ac- cepted by Goodwin or Sayer, it is fufficient ; becaufe it is accepted according; to the Tenor of the Bill. 2. A 1 5 8 Hay T s*s Segociators Mrgazh/e 2. A Factor of the Turkey y India, or -South-Sea Company draws a Bill on the lame, and a Mem- ber accepts the Bill \ this perhaps may make him liable, but no other Member. So it is, if ten Merchants mall employ a Factor at the Canaries, and the Factor draws a Bill on them all, and one of them accepts the Bill, and then refufes Payment ; this will not oblige the reft. 4. But if there be three joint Traders for the common Stock, and Benefit of all three, and their Factor draws a Bill on them ; the Acceptance of the one will oblige the Refidue of the Company. Jur. Mar. Sect. XXXI. Of Countermands, and the Danger of ' Difcounting Bills of Exchange. I . / I ) H E Party that hrft delivered the Money g on the Bill of Exchange, if the Money deliver'd was for his own proper Ufe, is rightly and properly Matter of the Bill, until it falls due ; and he may prohibit the Party, to whom it is directed, paying the fame, at the Time it ihall fall due, to the Perfon it is made payable, fuppofing him to be a Factor, or Agent, to the Deliverer, although the Party it is drawn upon has already accepted the Bill ; which Prohibition is commonly called a Coun- termand, and ought to be done in due Form, and upon an extraordinary Account, becaute it ttrikes at the Credit of the Party the Bill is made payable to. For Example : If the Matter, or principal Deli- Deliverer, makes over Money by Exchange, pay- able to his Factor, or Agent ; and afterwards he has Advice that his Factor, or Agent, takes ill Courfes, whereby the Money and Effects which are in his Hands, or which may come to his Hands for the Account of the Principal Deliverer, may be in Danger of being embezzled; then, and in fuch a Cafe, the Principal may fend his Countermand, forbidding the Party, the Bill is deliver 'd to, pay- ing the Bill to that Factor, or Agent, but to fome other Perfon ; or to keep the Money in his Hands, when due, till further Orders; which Counter- mand muft be made, and paft by a publick No- tary, in a legal Manner ; and by a Notary notified to the Party that hath accepted the Bill, or that is to pay the Money, to the End that he may not pretend to be ignorant of the fame ; and fuch a Countermand is good and lawful, according to the Cuftom of the Merchants; and ought to be obeyed accordingly, if the lame be notified in due Form and Time by a Notary (to the Party that has ac- cepted the Bill) before it be due 5 and neither the Drawer, nor Acceptor, can fuffer any Damage in obferving the fame ; but if the Time mould be expired, and the Money paid according to Order, before the Countermand comes to Hand, and is not notified, in fuch a Cafe there is nothing to be done to prevent Danger. By what has been faid, it is plain, a Bill of Exchange ought not to be paid before it is due, as fhall be (hewn more fully in the following Articles. 2. Any Time before the Money is due, the Drawer may countermand the Payment, although the Bill hath been accepted, 3. The 1 6 o Ha yes' / KegociatO) \f Magnzhie 3. The Countermand is uliially made before a Notary ; but if it comes without, lb it comes under the Party's I land, it is well enough. 4. If the Bill be accepted, and the Party deiires to have the Money before it is due, and it is paid, and then there comes a Countermand, it hath been conceiv'd, that it ought not to be allow'd ; for as he could not enlarge the Time, ib he could not ihorten it ; for his Duty was to follow his Order. 5. If one pays Money on a Bill before it be due, and the Party breaks, it has been conceiv'd, that the Party ought to aniwer the Drawer ; the Reaibn being, becaufe the Drawer might have counter- manded the fame, or order'd the fmie Bill to be made payable to another. 6. So that if a Bill of Exchange made payable at Ufance, double Ufance, or thirty Days Sight, or any longer or fhorter Time ; and when the Bill is offered for Acceptance, or at any other Time be- fore the Bill is due, the Perfon the Bill is payable to (hall delire preient Payment, upon Conhdera- tion of a Difcount ; or if the Party the Bill is drawn upon, having Money by him, and willing to improve it, fhould follidt the laid Party to take his Money before the Bill is due ; provided he will allow him a Difcount: The Party that mall lb pay a Bill of Exchange before it is due, runs fome Danger in not obferving Orders; for if the Money which is remitted be really, and properly, belong- ing to the Party that delivered the fame to the Drawer \ and if the Bill be made payable to a Factor, Sen ant, Agent, or to a Friend of the De- liverer's, for the Deliverer's Ule ; and if the De- liverer (hould fend his. Countermand before the Bill Of Money y Weights, Meafures, exes 1 6 r is due, that the Acceptor may not pay the Money to fuch Faclor, Servant, Agent, or Friend, to whom it was payable, by the Tenor of the Bill, but to fome other Perfon he mall appoint : In this Cafe, the Party that the Bill is drawn upon, ought to be liable to pay the fame, according to the Countermand, to the Perfon who is thereupon ap- pointed to receive the fame. For as it is not in the Power of the Perfon the Bill is drawn upon to prolong the Time for Payment fo it cannot war- rantably be in his Power to fhorten it : for the Agreement is made between the Deliverer and Taker, and therefore particular Regard ought to be had to it : For though a Countermand doth not often happen, it does fometimes and who can be certain the fame may not come to him, in the Payment of Bills before they become due. Sect. XXXII. Of Blank Endowments. i. A Bill is remitted to J. S. who owes Mo* f\ ney to J. D. - J. S. delivers the Bill to J. D. and on the Backnde fubferibes his Name, That if J. D. receives the Money, he may Jill up the Blank, as if the Money had been actually paid to J. S. This is practifed amon.* Merchants, and by them accounted firm and good. But fays fur* Mar. certainly the Common Law looks upon this filling up of Blanks^ after a Man has once figned or fealed, to be no better than a harmlefs Forgery % but if there be either a general, or fpecial Authority to the Purpofe^ it may then alter the Law, M g. §3 i 6i Have s' s Nepoctatofs Magazine 2. So that if a Bill of Exchange is made pay- able to a Perfon that lives beyond Sea, or to any one in the Country, and lie fhould fend it to a Friend of his that lives in the Place where the Perfon rcfides that is to pay the Bill, or to get it accepted for him, or to receive the Money at the limited Time for the fame ; and the Perfon it is payable to, fhould fubfcribe only his Name on the Backfide of the Bill, leaving an empty Space before his Name -y this would be fufficient Warrant for the Party the Bill is fent to, to get accepted, and to receive the fame accordingly : And in this Cafe, when the Party that has the Bill fhall go for the Money when it is due, he may either receive the Money himfelf, or fend his Servant for it ; if he goes himfelf he may either write an Alignment in the vacant Place on the Back of the Bill above the Name, and fo make it 'payable to himfelf; and when he receives the Money, he may make a Receipt for the fame un- derneath the Endorfement, in the ufual Form ; or elfe he may write a Receipt above the Name, as if received by the Party himfelf, and put his own Name as Witnefs underneath ; or if he fends his Servant, he may do the fame. However, in this Cafe, he muft conform to the Will of the Party that is to pay the Bill. Sect. Of Money y JFeights, Meafures^ &c. 1 6 5' Sect. XXXIII. If the Figures of the Sum, and Words of the fame difagree -3 or, fa Name JJjould not be mentioned or interlined ; or, if a Bill Jhould come to Hand wit bout Directions. 1. T F it fo happens, through a Miftake, that the JL Figures and the Words of the Sum wrote at length in the Bill fhould difagree , that is, either the Figures fhould exprefs more and the Words lefs, or the Words more and the Figures lefs ; in either, and in all fuch Cafes you ought to obferve the Words mentioned at length, and not in the Figures, until you receive further Advice concern- ing the fame ; becaufe a Man is more liable to miftake in Writing a Figure with his Pen, than in Writing a Word ; and befides, the Figures at the Top of the Bill do only ferve as it were for a Bre- viat of the Contents, but the Words at length are in the Body of the Bill of Exchange, and are the the chief and principal Subftance of the Bill ; and therefore more particular Regard ought to be had to that : And though it may fall out, that the Sum mentioned in Figures in the Letter of Advice, and the Sum mentioned in Figures in the Bill of Exchange do agree; yet if the Sum mentioned in Words at length in the fame Bill difagree, you ought to follow the Order mentioned in Words at length in the Bill, and not the Order in Figures, for the Reafons aforefaid. 2. If the Name of the Party, the Bill of Ex- - change is payable to, fhould chance to be altered, M 2 or 7 64 Ha y Es'i Negotiators Maga%trit or interlined in the Bill, and the Bill is accepted by the Party it' is drawn upon, it is no fufticient Warrant for the Acceptor to refufe, or deny the Payment of the fame, when it becomes due, to the Party whole Name is mended or interlined in the Bill, or to his Order, or Alignment, if the Bill was fo mended before he accepted it ; for he could not but take Notice of the Error before he accepted the Bill, and ought to have fatisfied him- felf about it, before he accepted it : If he fliould lay it was- not fo mended, or interlined, before he accepted it, that he muft prove. 3. If a Bill of Exchange comes without Di- rections, that is to fay, without being directed to any Perfcn, only the Drawer having let his Name to it, but has forgot to direct it to the Perfon he intended to draw upon ; yet if in the Letter of Ad- vice to his Friend the Bill is made payable to, the Bill is mentioned to be drawn on fuch a Perfon, naming his Name ; this Friend the Bill is fent to ought to prefent the Bill to this Perfon for Accept- ance; and in cafe that Perfon refufes to accept it, becaufe there was no Directions to him upon the Bill, the Party that prefents the Bill for Accept- ance ought to proteft the fame for Non-acceptance \ for he protefts againft the Drawer, becaufe he ihould have directed the Bill, that it might have been accepted by ibmebody, and the Drawer is juitly to bear the Charges thereof, for his Omiilion and Overfightj though, I muff confefs, if the Perfon the Bill is preferited to has Advice from the Drawer, he may, upon fufjicient Ground, accept the Bill, upon that Advice, though the Directions to him be Qinittcd upon the Bill : However, it is an Error Of Money, Weights, Men fares, &c. 1 6) and Overfight in the Drawer, in omitting to direct the Bill of Exchange ; and if his Friend mould fuf- fer it to be protefted, it is but what he defervess for committing fuch an Overfight. 4. If a Bill of Exchange, by contrary Winds, or other Occafion, be fo long on the Way, that the Ufance, or Time limited in the Bill, be expired ; and being tendered, both Acceptance and Payment is denied, Protefts for both muft be made ; and the Drawer muft anfwer the Value, Re-exchange and Charges. Sect. XXXIV. Of Placing Bills of Exchange to Account ; and the needful Memorandums to be taken of the fame. 1. T"^ VERY individual Perfon, who is con- jP j cerned in a Bill, is obliged to place fo much to Book, as he is concerned in it. 2. A Drawer muft place to Book exactly and diftindtly the Contents and Circumftances of every Bill, before he makes a Bill, or at leaft before he delivers it to the Broker, or Remitter ; he muft note the Place whither, the Day when, the Perfons by whom, and to whom it is payable, for whofe Account, from whom the Value, the Time when to be paid, the Sum, and the Price, &c. that fo, if at any Time a fecond, third or fourth Bill mall be demanded, they may all of them be alike. 3. The Remitter, as foon as he receives a Bill, fhould do the like, before he pays the Value to M 3 ' th© 1 6 6 Ha yes' j Kegociators Magaiitre the Drawer, whether he does effectually rcmir, or defigns to re-draw the Value again. 4. When a Remitter does not receive the Drawer's own Bills, but Bills endoried by him, he ought narrowly to obferve what Date they bear, from what Place they came, and by whom they were firfr, made, the Sum they are for, and when to be paid, and to whom to be paid, the Courie or Price that he agreed upon, and to whom the Bill is endoried ; and then it will manifeftly appear to him, if there be any Deceit, or Abufe, in en- dowing it, or any other Defect. 5. The Drawer and Remitter mould alio, in fome convenient Place in their Book, note the Bro- ker's Name to every Parcel ; that, in cafe of any Difpute, or Inconveniency, you may know with what Broker you concluded any Bargain 5 and alio, it will render it much eafier for you at any Time, when you are fettling with your Broker. 6. A Remitter that does not effectually remit, but defigns to re-draw his Monies in again, and therefore orders the Bills to be made payable to himfclf, or Order, would do well to exprefs the Day of Payment at the Side, or under every Ar- ticle in his Copy Book, and to leave the Space of an Inch or more, that he may note under it, when he re-draws it, or transfers it, to whom, and by whom endorfed, and from whom the Value. 7. When the Remitter fends his Bill to any Place to demand Acceptance, he ought to note, pear the Parcel entered in his Exchange Book, when and to whom he fent it, and when it comes back to him again, he may cancel the laid Note. 8, When Of Money, Weights, Meafures, &c. 167 8. When Bills are fent abroad to procure Ac- ceptance, with Orders to detain them, till the lame, with the endorfed Bill, be demanded ; this ought carefully to be booked 5 and he that receives fuch a Bill mould alfo obferve, and note from whence he receiv'd fuch a Bill, and to whom he delivered it, and the Day of Payment, that in cafe the fecond, or endorfed Bill, come not in Time, he may, by virtue of the accepted Bill, (officii the Payment, by offering fufficient Caution to the Ac- ceptor, or to defire of him that the Monies may be lodged in proper Hands for better Security; and, in cafe of Refufal, to proteft. 9. As foon as a Bill of Exchange comes to Hand, or before the Acceptance is demanded, it ought to be Booked, and noted from whence it came, by whom brought, for whofe Account, In whofe Letter, Of what Date, For what Sum, By whofe Order, When, and to whom payable j and the like muft be obferved when it is an endorfed Bill, or a re-drawn Bill, note in the Book When and Where it was firft concluded, and How and by Whom it came endorfed, and for whofe Account the Parcel was remitted, and alfo the Courfe, or Price, and for how much the Correlpondent muft be credited. 10. When the Letter of Advice expreffes, that the Bill is to be paid to the Remitter, or his, or any other Order, the Acceptor ought to leave a Space in his Book to note the Parcel, by whom it wras prefented for Acceptance, and when the Pay- ment muft be made, and if there be Endowments upon the fame ; before he makes Payment, he. ought to fpecify every Endorfer's Name in his M 4 Book 1 6 8 HayesV Negotiators Magazine Book (bclides the Parcel) one under another, tilt he comes to the Perfon the Money is to be paid to. 11. The Acceptor ought alio curioufly to ob- ferve, and to note whether it be the firft, fecond, or third Bill, under the Parcel, and when he ac- cepts a Bill, that if the Drawer fhould by Miftake have made two, or more Bills, of the lame Tenor, for one and the fame Sum, payable to Order, the Acceptor may be cautious in accepting, and muft note down all the Endorfements in his Book, for fear he fhould accept more Bills than one, for the fame Sum. 12. As foon as a Perfon has got Advice, that his Correfpondent hath drawn upon him, he ihould note the fame in his Memorandum, viz. From what Place, By whom, What Sum, What Date, at what Time, To whom, or whofe Order, the Bill is made payable ; and fo, in cafe the Bill be for his own Account, he muft note in his Book the Courfe, or Price, it was drawn at, and the Sum ; and this fhould be done before the Bill is prefented for Acceptance, or Payment. 13. He that hath a Bill of Exchange in his Pof- fefl'ion, which is not accepted, nor at the due Time paid, and fo is protefted for Non-payment, muft alio note in his Memorial Book, underneath the Parcel, when, and to whom the Proteft i< made, with or without the Bill of Exchange j and fo in cafe a third Perfon, or he himiclf, accepts and pays the Bill, for the Honour of the Drawer, or of any of the Endorfers, he ought diligently to note and ohferve the fame in his laid Beck, with gljj the Circumftanccs, ix. lie Of Money, freights, Me a fur es, &c. 169 14. He that accepts and pays a Bill under Pro- left, for the Honour of the Drawer, or any other Perfon, muft note in his Book, for whofe Account he accepted and paid the fame. And fo when the Bill is drawn in, not on the Acceptor, but on fome other's Account, who fuffered it to be protefted ; the Acceptor, under Proteft, muft make a perfect and complete Entry thereof, as if the Sum had been directly drawn upon him ; to wit, When, By whom, What Sum, To whom, At what Time payable, and on whom it was drawn ; and that he accepted the fame, under Proteft, in ho- nour of the Drawer, or fome Endorfer. 15. If a Bill is made payable fometime after Sight, or at Ufance, if Olanee be reckoned after Sight, the Acceptor and the PoffeiTor of the Bill muft enter in their Memorial Book the Date of the Acceptance, to calculate the Day of Payment by ; and it is a good and laudable Cuftom in all Merchants, as well Acceptors as Pofleflbrs of Bills, to enter underneath, or at the Side of the Entry of the Parcel, the Day of its being due, whether the Bill be payable after Sight, after Date, or at U- fance, 16. If any Principal receives Advice from his Factor, that his Faclor hath drawn or remitted for his Account to fome other Place, the Principal mould note this in his Memorial Book, and diftinct- ly fpecify, by whom, from whom, to what Place, when, what Sum, at what Courfe, to whom the fame was remitted, or on whom drawn, by what Letter, and of what Date he had Advice therepf 5 and when he gets further Advice, he muft curi- oufly 1 7 o H a y E sV Negotiator s Magazine oully obferve if the fir ft and fecond Advice agrees, or not. \y. So alfo, when any Pcrfon draws, or remits, or is drawn upon, or remitted to, by his Correl- pondent-, by Order of a third Perlbn, for Account of a fourth, he muft alio in his Memorial fpecify all at large, that the Book-keeper may know whom to charge, and whom to credit. 18. If any draw on his own Account, upon Time, orders to remit, or to be drawn, or remit- ed on himfelf ; or orders the lame by or to his Cor- respondent, refiding in fome other Place ; he ought to enter it in his Memorial, when the fame is pay- able, that again ft the Time, he may make neceflary Provifion for the Payment, or to order the further diipoiing of it, and to debit and credit his Corref- pondent's Accounts accordingly. 19. He who is drawn upon, or remitted to, mould enter into his Memorial Book, The Time of Payment, To whom payable, For what Bill, What Sum muft be demanded, or be paid ; and ft) when the Bill is made to Order, the fame mult be mentioned, that the PoflelTor of the Bill againft that Time may advife the Acceptor, to whom the Bill muft be paid, or that the Acceptor may en- quire of the Pofleffor about it. 20. When a Bill of Exchange is to be entered into a Journal, the Book-keeper muft be careful in finding out the true Debtor and Creditor -y and if the Bill be for another's Account, he need only enter the fame in the Species or Denomination of the Money he receives, or pays, or he keeps his Book1, in ; but if the Bill be for his own Account, he Of Money, freights % Meafures, &c. 171 he mu ft alfo enter the foreign Species and Coins, wherein he keeps an Account with the faid foreign Correfpondent ; fo that in porting it into his Leger, the foreign Coins may be expreffed in inner Co- lumns in his faid Correfpondent's Account, that when he receives an Account Current from him, he may (the more readily, without turning to his Journal) compare every Parcel together. Sect. XXXV. Of Letters of Advice. 1. VERY individual Perfon that is anyway concerned in a Bill of Exchange, muft he very quick and exact in Adviiing, and in returning of Anfwers. 2. Above all Things, it is the Duty of the Drawer, without Delay, by the firft Poft, to give his Correfpondent Advice thereof, that the Bill may not be prefented for Acceptance, before he has" Advice of the Draught. 3. The Letter of Advice muft be full and clear, containing all the Circumftances of the Bill ; as, the Date, the Sum, for whofe Account, to whom pay- able, and of whom the Value. 4. If the Draught is for die Account of the Drawer, or of a third Perfon, and not for Account of the Acceptor, it is unneceffary to advife the Ac- ceptor of the Courfe or Price, becaufe the Sum to be paid is expreffed in the Bill in the Denomination and Species of Monies that is well known at the Place where the Payment is to be made -y but if the Sum to be paid is expreffed in foreign Coins, then it is abfolutely tfi Ha yes V Negotiators Magazine abfolutely ncccfl'iry to advife of the Courle, ac- cording to which the Reduction mud: be made of the Sum drawn for, let the Draught be for whofe Account it will. 5. The Drawer, in his Letter of Advice to his Correfpondent on whom he draws, lliould delire him to take notice thereof, and to honour the Bill, when prefented, with Acceptance ; and when de- manded, with Payment ; and to debit him for it, or to feek his Re-imburfment ( if he draws for a third Perfon ) of him that gave the Order for his accepting it. 6. It is alio ufual for the Drawer, by the fol- lowing Poft, to confirm the Draught, Qfr. and if the Bill be at lhort Sight, and for a coniiderable Sum, he would do well to give Advice thereof as many Ways as he poflibly can. 7. He that remits mult alfo give his Correfpon- dent punctual Advice for whofe Account he re- mits, what Sum, in whole Bill, of what Date, and when payable. S. If a Bill is not yet accepted, the Remitter fhould dclire the Party he remits to, to procure the Acceptance as loon as poflible j and, in cafe of Re- fula], to prctelt accordingly. 9. If the accepted Bill be in the Hands of the Party that got the fame accepted, and the en- dor fed Bill does not mention in whofe Hands it is, then the Remitter ought in his Advice to give notice in whofe Hands, or where the accepted Bill doth lie. 10. The Remitter muft be careful to fend hi< Advice to thofc that are to demand Acceptance, and to adviie thofe to whom thev are made pay- able, Of Money ) Weights^ Meajures, &c. 1 73 able, or endorfed, and mould be careful in lending iuch a Bill to no other Perfon, but to him who is to demand Acceptance. 11. If a Remitter receives two Bills together ; that is to fay, a firft and fecond, for one and the fame Sum, he muft not enclofe them together in one Letter, by the fame Poft, but muft fend one by one Poft, and the other by the next, that if one milcarries, or falls into the wrong Hands, the other may be fecured, and fent by the right Perfon to demand Acceptance and Payment. 12. If the Remitter hath but one fmgle accepted Bill, or if the accepted Bill remains at the Place where it ought to have been diJ charged, and fo the Remitter hath but one Bill to fend; in this Cafe, it is neceiTary that the Remittance mould be confirmed by the following Poft, and be clearly and fully expreffed in a Letter of Advice, that if the Bill mould mifcarry, the Perfon it is remitted to (by Virtue of the faid Letter) may addrefs him- felf to the Perfon who is to accept and pay the Bill, and forbid him to pay any fuch Bill to any Body but to himfelf ; and if nobody appears before the Day of Payment, he may then demand the Mo- ney by Virtue of the faid Letter of Advice ; and, in cafe of Refufal, to caution him, and proteft a- gainft him. 13. A Remitter, or Drawer, for Account of a third Perfon, mould alio give punctual Advice to the Party for whole Account it is drawn, or re- mitted, adding thereto the Price, and for how much he has debited or credited his Account. 14. It is the Duty of an Acceptant to anfwer the Drawer, if he will accept his Draught, or not, 174 Hay e sV Negoi iators Magazine not, according; to the Letter of Advice ; and if he makes any Difficulty about accepting, he ought to give the Drawer fpeedy notice thereof, and not to wait till the Bill is returned with Proteft. i 5. He that accepts a Bill fupra Proteft, whe- ther it be the fir ft deligned Acceptor, or not, he mu ft fpcedilv, without Delay, give Advice there- of to him in whofe favour he accepted it, and fend him therewith the Proteft. 16. If the defigned Acceptor accepts a Bill, but fupra Proteft, it is unneceflary for the PoiTefibr to ad vile the Remitter thereof 5 but if the Acceptance is made by another, then it is abfolutely neceffary to advife that it was accepted under Proteft, and by whom it was accepted. 17. He that is drawn upon for Account of a third Perfon, muft alfo give Advice to the laid third Perfon, by whom it is drawn, what Sum for, and at what Time payable, and whether he hath or will honour the Bills for his, the third Perfon's Ac- count. itt. The Perfon to whom remitted, muft give Advice of the necellary Circumftances to the Par- ties concerned, and whether the Bills are, or will be accepted, or not. 19. If no punctual Ad\ice can be given, whe- ther Bills will be accepted, or not, becaufe the Ac- ceptor is abroad, lives not in Town, cannot be met withal, or is fufpe&cd, and cannot be found, &c\ ihc Pofleflbr ought to mve Advice hereof to the Remitter, and to him for whole Account it is drawn ; and if it is afterwards accepted, he muft advife them both, that it is accepted: Yet this laft Advice mav be (pared, if the liift Advice be full Of Money, JIVtghts, MejfrresfiZc. 1 7 5 and clear, exprelTing the Acceptance will be de- manded ; and if not accepted, the Perfons con- cerned may expect to hear of a Proteft ; lb that if the next Poft brings no Proteft, they may both conclude, that the Bill is accepted. 2c. If a Bill is not accepted, but protefted, then the Protefter is obliged to give the Remitter Advice thereof, without Delay, and mould lend him his Proteft. And in cafe the Biil is made payable to Order, and comes originally from fome other Race than from whence he received it, the Protefter does prudently in adviling the firft Remitter thereof. 21. When a Bill is dilcharged and fatisned, for whole Account lbever it be, it is the Dutv of the Payer and Receiver, each of them to advife thole that are concerned therein refpectively, except the Draught, or Remittance, be for the Account of the Acceptor, or the Remitter, then it is not ufual, though verv convenient it would be, to give Ad- vice of the difchars;e thereof. 22. If any Perfon give an Order to draw upon a third Perfon for his Account, he ought, at the fame Time, to advife the faid third Perfon, that he hath given fuch Order, and to whom, and for what Sum, and to defire him to accept the Bills of his Correspondent, and to iignirV to him, how he muft place it to Account, or be re-imburfed by by re-drawing, <2V. this he muft do, left the Bills are drawn, before the third Perfon have Orders from the Principal to accept them. 23. He that is before advifed, that he will be drawn upon, ought inftantly to return an Anfwer, whether he hath taken notice thereof, and whe- ther he will accept or honour the Bill, or not. 24. In iy6 Hayes V Nfgpcl %tor s Magazine 24. In like Manner, if one Perfon gives to ano- ther Advice to remit for his Account to a third Perfon, he muft alio ad vile the faid third Perfon, before the Remittances come to his Hands, that he hath given fuch Orders ; efpecially, if the fame are to be made at fhort Sight, and how he will have them dilpofed of ; and it is the Duty of this Perfon to return an Anfwer, that he hath received, and will, or will not obferve his Orders. 25. If a Factor, Correfpondent, or Principal, &c. advife his Principal, Correfpondent, or Factor, that he will accept fuch and fuch Draughts, and for fuch and fuch an Account, and he afterwards refufes to accept the Bills, and returns them on the Drawer with Proteft, it is but juft and reafonable, that he that promifed Acceptance and refufed it, mould be obliged to make good all the Lofs, what- ever it be, and make Satisfaction for the Damage done to the Drawer's Credit. Sect. XXXVI. Of Letters of Credit. t. TV /T O N I E S may be had on Exchange by 1VJL way °f Letters of Credit in two Re- fpects ; the fifft is by a General Letter, and the other by a Special one. 2. A General Letter of Credit, is when I write my open Letter, directed to all Merchants, and others, that furnilh Money unto fuch and fuch Pcrfons, upon this my Letter of Credit, wherein, and whereby, I do bind my felf, that what Mo- ney (hall be by them delivered unto the Party or Parties Of 'Money, Weights, Meafufef, &c. 1 77 Parties therein mentioned, within fuch a Tim-, and at iuch and fuch Rates (or in general Terms at the Price current) I do thereby bind my felf, for to be accountable and anfwerable for the fame, to be repaid according to the Bill or Bills of Ex- change, which upon the Receipt of the Money fo furnilhed mall be given, or received for die fame ; and if any Money lhould be fo furnilhed upon this Siy general Letter of Credit, and Bills of Exchange iven, and charged, drawn, or directed to me, mould come to Hand, and are prefented to me, I am obliged to accept, and make good the Pay- ment ; or, according to the Cuftom of Merchants, I am bound, and am liable to pay thofe Bills of Exchange, by virtue of my general Letter of Cre- dit ; becaule thofe Perfons that furnifhed the Mo- nies, have not fo much Regard to the Abilities of the Parties that take up the Money, as to me who have given my Letter of Credit for the fame, and upon whofe Credit meerly it might properly be faid the Money was delivered. Now a fpecial Letter of Credit, is, when a Merchant at the Re- queft of another Perfon writes his open Letter of Credit, directed to his Correfpondent, or Factor, giving him Orders to furnim fuch a Perfon (nam- ing his Name) with inch a Sum of Money, at one or more Times, and to charge it to the Ac- count of the Merchant that writes the Letter of Credit ; and to take the Bills of Exchange, or Re- ceipts for the Money he mail fo furnim the Per- fon withal It is very convenient the Merchant that grants a fpecial Letter of Credit mould write it him- fel£ and fhouid recite fomething or other parti- N " cular 1*7$ Ha y EsV Isegrociiitors Mdjrnziue cuW in fome former Affairs, or Dealings, which were depending between them ; and the Date or his lad: Letter, for a Certainty of its being ge- nuine,, and that the Perlbn the Letter is directed to may not be kept in Sufpence. See the following Example. SIR, London, Decern, 19th — THE la ft of yours was dated the 1 5 ultimo, wherein you noted mine of the 7 ditto. I hope by this Time you have effected what you adviled. The laft Parcel hangs on Hand, we hav- ing a drooping Market > you may expect more of this by my next : Th? Import of this being chiefly to defire you to fnrnifh and pay unto Mr. Simon Gocdfellciv, the Sum of One Hundred Pounds Ster- ling, at one or more Times, as he (hall have Oc- casion for the fame, and to take his Receipts for the Money you fhall fiimift him with ; and this my Letter of Credit fhall be vour Warrant, giv- ing upon Payment a Line of Advice to cr i\ t • 1 o -i Your real Friend To Mr. Daniel Baily, Merchant in Manchcltcr. and Servant, Walter Yreemdn. Now in general Letters of Credit, he that writes makes Ufe of his Credit for his own Account and Conveniency in the Wav of Trade ; and therefore there needs nothing more than his Letter of Cre- dit to make him liable to repay what fhall be fo fuinifhed. As for the Form of a general Letter of Credit, every Man knowing bell the Occaiions that Of Money \ // Vights, Meafres, &c. 179 that induces him to it, which is the main Sub- ftance of the Letter, I mall decline giving any Example of the lame; but mail return to the Subject of a fpecial Letter of Credit : And herein vou are further to take notice, that he that writes the Letter does not take up Money for his own Uie, but for the LTe and Conveniency of others; and therefore it is expedient, and very common for the Perfon, at whole Requeft the Letter of Credit is written, to give good Security, by Bond or otherwife, to the Merchant that gives the Letter of Credit, for Repayment to him, his Executors or Affigns, of fuch Sum or Sums of Money as mail be received by virtue of the laid Letter of Credit ; for the Merchant, by his Letter of Credit, ftands fufficiently bound to his Corre- fpondent ; and therefore it is but reafonable the Perfon the Letter of Credit is granted to, Ihould give as it were his Counter-bond for Repayment. Sect. XXXVII. Of Inland Bills of Exchange. An AbjlraB of an Act for the better Payment of Inland Bilk of Exchange. Anno 9 Gulielm.III. * TY7HEREAS great Damages and Incon- : VV veniencies do frequently happen in the ! Courfe of Trade and Commerce, by realbn of c Delays of Payment, and other Neglects on In- c land Bills of Exchange in this Kingdom : Be it 1 therefore enacted, by the King's moll: Excellent ( Majeftv, bv and with the Advice and Confent N z t of So Ha y E s'j Xegoc/ators Magaztnt of the Lords Spiritual and Temporal, and the Commons in this Parliament allembled, and by- Authority of the fame, That from and after the Four and Twentieth oi June next, whieh (hall be in the Year One Thouiand Six Hun- dred and Ninety Eight, all and every Bill or Bills of Exchange, drawn in, or dated at, and from any City or Town, or in any other City or Town, or any other Trading City or Town, or any other Place in the Kingdom of England, Dominion of Wales, or Town of Berwick upon Tweed, of the Sum of Five Pounds Sterling, upon any Perfon, or Perfons, of, or in London, or any other Trading City, Town, or any other Place (in which the J aid Bill or Bills of Ex- change (hall be acknowledged, and expreiTed, the laid Value to be teccived) and is, and (hall be drawn pavable at a certain Number of Days, Weeks or Months after Date thereof, that from and after Preientation and Acceptance of the faid Bill or Bilk of Exchange, (which Accept- ance (hall be by the underwriting the fame un- der the Parly's Hand, lb accepting) and after the Expiration of three Days, after the faid Bill or Bills fliall become tine, the Party to whom the laid Bill or Bills are made payable, his Servant, Agent, or Afrigns, may, and fliall,' caufe the (aid Bills to be protected by a Notary Publick- artd ddki It of foch Notary PuW lick, by any Other fubft&ntial Perfon fctf the Qtv, Town, or Place, in the Pfefence of two or more Credible WitnefieS; Refu&l or Neglect being iirft made of due Payment of the fame ; Which Protcil (hall be made and written under a 4 fal Of Money, Weights^ Meafures^ &c. 1 8 1 * fair written Copy of the faid Bill of Exchange, * in the Words or Form following ; < Know all Men, That I A. B. on the * Day of at the ufual Place of Abode * of the faid have demanded Payment ' of the Bill, of which the above is the Copy, 1 which the faid did not pay ; where- c fore I the faid do hereby proteft the * faid Bill, dated at this D-.y * of c Which Proteft ib made, as aforefaid, fliaH * within fourteen Days after making thereof, be * fent, or otherwife due Notice lhall be given c thereof to the Partv from whom the Jaid Bill or 1 Bills were received, who is, upon producing fuch c Proteft, to pay the laid Bill or Bills, together 1 with all Intereft and Charges from the Day fuch ' Bill or Bills were protefted; for which Proteft * mail be paid a Sum, not exceeding the Sum of c Sixpence. And in Default or Neglect of fuch 1 Proteft made and fent, or due Notice given ' within the Days before limited, the Perfon fo ' failing, or neglecting thereof, is and mall be lia- ' ble to all Cofts, Damages, and Intereft, which ' do and (hall accrue thereby. Provided neverthe- 4 lefs, that in cafe any fuch Bill or Bills of Ex- * change mall happen to be loft or mifcarried, < within the Time before limited for Payment of c the fame, then the Drawer of the faid Bill or c Bills is and fhall be obliged to give another Bill , c or Bills of the fame Tenor with the firft given, * the Perfon or Perfons to whom they are and N 3 ' (hall i 8 z Hay e s \r Negotiators Magazine 1 fhall be fo delivered, giving Security, if demands 4 ed, to the Drawer, to indemnify him againft all c Perfons whatfoever, in cafe the laid Bill or Bilk 1 of Exchange, fo alledged to be loft or mifearried, 1 fhall be found again. Sect. XXXVIII. Of Promiffory Notes, &c. An AbjlraEl of an Act for giving like Remedy upon Promiffory Notes, as is now ufed upon Bills of Exchange ; and for the better Payment of Inland Bills of Exchange. Anno tertio & quarto Anna Regince : Which, Anno fexto Anna Regime, is made perpetual. WHEREAS it has been held, That Notes in Writing figned by the Party ' who makes the fame, whereby fuch Party pro- t mifes to pay unto any other Perfon, or Order, 1 any Sum of Monev therein mentioned, are nor 4 amgnable or indorfable over, with the Cuftom 4 of Merchants, to any other Perfon ; and that fuch ' Perfon to whom the Sum of Monev mentioned * in fuch Note is payable, cannot maintain an * Action, by the Cuftom of Merchants, againft * the Perfon who firft made and figned the fame \ 1 and that any Perfon to whom fuch Note is 1 affigncd, endorfed, or made payable, could not, * within the Cuftom of Merchants, maintain any * Action againft any Perfon who firft drew and * figned the fame. Therefore, to the Intent to \ encourage Trade and Commerce, which will be ( much Of Money \ Weights^ A feafuresy See. 1 8 3 much advanced, if fuch Notes mall have the lame Effect as Inland Bills of Exchange, and ihall be negociated in the like Manner: Be it enacted by the Queen's mod Excellent Majeity, by and with the Advice and Confent of the Lords Spiritual and Temporal, and Commons, in this prefcnt Parliament alfembled, and bv the Autho- rity of the fame, That all Notes in Writing that after the firft Day of May 1705. mall be made and ailigned by any Perfon or Perform, Body Politick or Corporate, or by the Servant, or A* gent, of any Corporation, Banker, Goldfmith, Merchant, or Trader, who is ufually intrufted by him, her, or them, whereby fuch Perfon or Perfons, Body Politick and Corporate, his, her, or their Servant, or Agent, as aforefaid, dotiv and mail promife to pay to any other Perfon or Perfons, Body Politick and Corporate, his, her, or their Order, or unto the Bearer, any Sum mentioned in fuch Note, mall be taken, and be conftrued to be, by Virtue thereof, due and payable to any fiscfa Perfon or Perfons, Body Politick and Corporate, to whom the fame is made payable. And alio, every fuch Note, payable to any Perfon or Perfons, Body Poli- tick and Corporate, his, her, or their Order, ihall be aifignable and indorfible over Li the fame Manner as Inland Bills of Exchange are, or may be, according to the Cuftom of Mer- chants ; and that die Perfon or Perfons, Body Politick and Corporate, to whom iuch Sum of Money is, or iliall be, by fuch Note made pay- able, fhall and may maintain an A&ioa for the lame, in fuch Manner as he, Ihe, or thev might N 4 4 do 1 8 4 Ha yes V Negotiators Magazine 4 do upon an Inland Bill of Exchange, made or 4 drawn according to the Cuftom of Merchants, 4 again ft the Perfon or Peribns, Body Politick and f Corporate, who, or whole Servant, or Agent, 4 as aforelaid, figned the lame. And that any 4 Perfon or Perfons, Body Politick and Corporate, 1 to whom fuch Note that is payable to any Per- 1 fon or Peribns, Body Politick and Corporate, 4 his, her, or their Order, is endorfed or ailigned, 4 or the Money therein mentioned, ordered to be 1 paid by Endorfement thereon, mall and may 4 maintain his, her, or their Action, for fuch Sum 1 of Money, either againft the Perfon or Perfons, 4 Body Politick and Corporate, who, or whole • Servant, or Agent, as aforefaid, figned fuch 4 Note, or againft any of the Perfons that endorfed 4 the fame, in like Manner, as in Cafes of Inland 4 Bills of Exchange : And in every fuch Action 4 the Plaintiff* or Plaintiffs (hall recover his, her, 4 or their Damages and Colts of Suit : And if fuch 4 Plaintiff or Plaintiffs mull benonfuited, or a Ver- 4 diet be given againft him, her, or them, the 4 Defendant or Defendants fhall recover his, her, 4 or their Colls againft the Plaintiff or Plaintiffs : 4 And every fuch Plaintiff or Plaintiffs, Defendant £ or Defendants, refpeclively recovering, may fue 4 out Execution for fuch Damages and Colts by 4 Qtfiasi Fieri Pacta*! Elegit. " And be it further enacted by the Authority 4 aforelaid, That all and every fuch Action ihall 4 be commenced, fucd, and brought, within fuch 4 Time as is appointed for commencing or filing 4 Aftions upon the Cafe by the Statute made in 4 the twenty hi ft Year of King James the Firil, 1 Intituled. Of Money ^ Weights ^ Meafures, &c. i S 5 1 Intituled, An Acl for Limitation of Actions, and for avoiding Suits in Law. ' Provided, That no Body Politick or Corpo- c rate (hall have Power, by virtue of this Act, to c iffue or give out any Notes, by themfelves, or ' their Servants, other than fuch as they might £ have iffued out, if this Ad: had never been 6 made. Sect. XXXIX. Of Inland Bills of Exchange. (The above Acl continued.) ? AND whereas by an Ad: made in the ninth c J~jL Year of King William the Third, Inti- c tuled, An AB for the better Payment of Inland ' Bills of Exchange, it is, among other Things, ■ enacted, That from and after Prefentation and £ Acceptance of the faid Bill or Bills of Exchange, c (which Acceptance mall be by the underwriting c the fame under the Party's Hand fo accepting) f and after the Expiration of three Days after the I faid Bill or Bills mail become due, the Party to c whom the faid Bill or Bills are made payable, • his Servant, Agent, or Aligns, may, and mall ■ caufe the fame Bill or Bills to be protefted in ' Manner as in the faid Acl: it is enacted. ' And whereas there is no Provifion made there- 1 in for protefting fuch Bill or Bills, in cafe the f Party on whom the fame are or mall be drawn,- • refufe to accept the fame, by underwriting the j fame under his Hand, all Merchants and others « dp 1 8 6 Hayes'/ Negotiator s Magazine do refute to underwrite fuch Bill or Bills, or make any other than a promifTory Acceptance, by which the Effect and good Intent of the (aid Act in that behalf is wholly evaded, and no Bill or Bills can be protefted before, or for want of fuch an Acceptance by underwriting the fame, as afore- faid : For Remedy whereof, be it enacted by the Authority aforefaid, That from and after the rirft Day of May 1705. in cafe upon prefenting any fuch Bill or Bills of Exchange, the Party or Parties on whom the fame mall be drawn, mall refule to accept the fame, by underwriting the fame, as aforefaid, the Party to whom the faid Bill or Bills are made payable to, his, or her Ser- vant, Agent, or Afligns, may, and fhall caufe the faid Bill or Bills to be protefted for Non- acceptance, as in cafe of foreign Bills of Ex- change ; any thing in the faid, or any other Law to the contrary notwithstanding ; for which Pro- ten: there mail be paid Two Shillings, and no more. ! Provided always, That from and after the faid hrft Day of Ma\\ no Acceptance of any fuch Inland Bills of Exchange mall be iufficient to charge any Perfon whatfoever, unlets the fame be underwritten, or endorfed in Writing there- upon : And if fuch Bill be not accepted by fuch Underwriting, or Endorfement in Writing, no Drawer of any fuch Inland Bill lhall be liable to pay any Cofts, Damages, or Intereft there- upon, unlefs fuch Proteft (hall be made for Non- acceptance thereof ; and within fourteen Days after fuch Protefl, the fame may be fent, or O&erwife Notice thereof be given to the Party * from Of Money ) Weights, Me a fares, &c. 1 8 / from whom fuch Bill was received, or left in Writing, at the Place of his, or her ufual A- bode ; and if fuch a Bill be accepted, and not paid before the Expiration of three Days after the faid Bill (hall become due, and payable, then no Drawer of fuch Bill fhall be compella- ble to pay any Cofts, Damages, or Intereft there- upon, unlefs a Proteft be made and fent, or Notice thereof be given in Manner and Form abovementioned ; never thelefs, every Drawer of fuch Bill fhall be liable to make Payment of Cofts, Damages, and Intereft, upon fuch Inland Bill, if any one Proteft fhall be made for Non- acceptance, or Non-payment thereof, and No- tice thereof be fent, given or left, as afore- faid. c Provided, That no fuch Proteft fhall be necef- fary, either for Non-acceptance, or Non-pay- ment of any Inland Bill of Exchange, unlefs the Value be acknowledged, and expreffed in fuch Bill to be received, and unlefs fuch Bill fhall be drawn for Twenty Pounds Sterling, or upwards ; and that the Proteft hereby required for Non- acceptance, fhall be made by fuch Perfons as are appointed by the faid recited Act, to proteft Inland Bills of Exchange for Non-payment thereof. * And be it further enacted, That from and after the faid firft Day of May, if any Perfon doth accept any fuch Bill of Exchange for, and in Satisfaction of any former Debt, or Sum of Money formerly due unto him, the fame fhall * be accounted and efteemed a full and compleat I Payment 1 88 Ha yes V Negotiator's 'Magazine f Payment of fuch Debt, if fuch Perfon, accept- c ing any fuch Bill for his Debt, doth not take his ' due Courfe to obtain Payment thereof, by en- * deavouring to get the fame accepted and paid, ' and make Protelt, as aforefaid, either for Non- * acceptance, or Non-payment thereof. c Provided, That nothing herein contained mall * extend to difcharge any Remedy that any Per- * fon may have againft the Drawer, Acceptor, or < Endorferof fuch Bill.' N. B. In the Sixth Year of Queen Aivies Reign, the aforefaid recited Acts were made perpetual. Of Money ) JFeights, Meafuresfec. 189 Sect. XL. A Table, flawing what England Lofes y or Gains, per Cent, by Holland, at the following Courfes of Exchange. England England England h >7 'T 1/1 yi /I Li 'ig 1 a /ic* 1 1 Lofes, Price Lofes, Price Loies, Price Loles Pry 1 It) /> . Iff f. per L. 'S c pe> L. per L. l . yet Cent. Sterl. .lent . Sterl. Sterl. £711 . s. a. L. s. s. A u . r s. s. a. r S. s. a. T c Li. S. z 0 32 V 3 1 I I t u 34 Q O I 0 3° 1 2 14 29 27 H 32 '5 34 1 Q O I 2 3° 2 2 8 1 0 — 23 1 0 32 I 1 5 c 34 * Q 0 0 1 jd 3 2 4 50 1 23 4 32 2 ',5 2 34 3 Q 9 Z 4 22 I 0 32 3 r4 I u 34 4 7 .0 18 3° I T I A 30 3 22 I 0 32 4 !4 I 0 34 5 7 I 2 | 0 I 10 22 4 32 5 '4 4 34 2. 0 7 £ 1 30 7 1 6 3° 5 2 1 I 0 32 0 *3 T 9. I 0 34 7 7 2 3° 0 0 1 ■ . 30 6 21 10 32 7 13 14 34 8 6 .3 1 36 9 x5 3° 7 2 1 4 8 1 2 1 j 8 34 9 5 I 2 -6 j° 1 0 1 1 2 30 8 20 16 32 9 13 2 34 10 6 6 i 36 1 1 6 •n c 20 10 32 10 12 l6 34 1 1 6 2 1 37 2 30 ic 20 4 32 1 1 12 10 35 5 16 j 37 1 ij p. Gains 30 1 1 19 16 33 1 2 4 35 1 5 12 37 perC'z 31 — 19 10 33 1 1 1 18 35 2 5 6 i 37 2 — 6 31 I 19 4 33 2 1 1 12 35 3 5 2 1 37 3 — 12 31 2 18 18 33 3 1 1 8 35 4 4 16 37 4 — 16 31 3 18 12 33 4 1 1 2 35 5 4 12 37 3i 4 18 4 33 10 16 35 6 4 6 37 ■ 4 3i 5 1 7 18 33 6 10 IC 35 7 4 2 37 7 1 10 31 6 *7 12 33 i 10 6 35 8 3 18 37 8 1 14 31 : 17 6 33 f 10 35 9 3 1 2 37 9 1 18 31 8 17 33 c 9 14 35 IC 3 8 37 10 2 2 31 9 16 14 33 IC 9 8 35 1 1 3 2 37 1 1 2 8 31 IC 16 6 33 1 1 9 4 36 2 18 38 2 12 Tfo y^;;^ Explained. Suppofe the Price of Exchange between London and Jhnfierdam fhould be at 3 3 j. 5 d. the Table, (hews, at that Price, England is a Lofer by about 10/. ibs. per Cent, becaufe if the Exchange were to be i 9 o H a y E s fj Negot iator s Magazine be always made at a certain Price or Value, for Value, according to the above Par, Holland fliould always give to England 37J. *r for the L. Ster- ling ; but inftead of their giving 3 ys. , they give but 3 3 s. 5 <:/. for the L. Sterling, according to the above Suppofition ; and therefore England lofes about 10 1. \bs, per Cent, A further life of the foregoing Table. London remits to Amjlerdam a Parcel of Money at 3 5 \d. with Intent to take the Opportunity of the Courfe to draw in the faid Sum back a- gain : In about one Month after the above Re- mittance was made, the Courfe between London and Amjlerdam is at 345. ^d. London accordingly takes the Opportunity of this laft Courfe to draw upon Amjlerdam for the Parcel remitted thither $ Query is, How much per Cent, does London make by this Negociation ? To anfwer fuch Queries : Put down the Draw- ing Price firft, and the Sum England lofes per Cent, at that Price. And underneath put down the Price remitted at, and the Lois per Cent. Sub- tract one from the other, the Difference per Cent. will be the Anfwer. s. d. I. s. The Drawing Price 343 per Cent. 8 2 The Remitting Price 35 4 per Cent. 4 16 Remains L. 3 bperCt. The Difference per Cent, is the Anfwer. So Of Money j Wights, Meafures, &c. 191 So that London does get by the above Negocia- tion about 3 /. 6 s. perCe?2t. the Charges included; that is to fay, the Perfon who made the above Ne- gotiation would be Gainer of about 3 /. 6. s. per Cent, including Charges. And the like is to be underftood at all Times. More Examples. s. d. I. s. If a 1 Merchant of Im-i 2 from g g perCmL don draws at •> J 1 And remits at - - 34 1 1 take 6 2 per Cent. He gains 2 6 per Cent. But if he had remitted at 34 s. 2d. and have drawn the fame Sum in again at 34 s. 11 d. he would have loft 2 /. 6 s. per Cent, or thereabouts. Sect. XLI. Of divers Ways of keeping an Ac- count of Bills of Exchange. 1. > I ^ HE Ways of keeping fuch Reckonings J[ are various among Merchants ; but the the moft approved Method of keeping fuch Ac- counts, and what is generally practifed among thofe that have confiderable Dealings in Bills of Ex- change, is keeping of two Copy Books, or divid- ing one Book into two different Parts ; the one foF copying Bills payable, being fuch as are drawn upon Hj l H a v E S / Xcgociators Magazine upon themfelves, to be by them accepted and paid ; and the other Part for Bills receivable, being iiich as come to their Hands for them to get ac- cepted, and to receive the Money for, when they fhail become due : And it is very obfervable, that lbme Merchants are commonly fo exact in taking fuch Copies, when a Bill is prefented for Accep- tance, as to copy them verbatim in their Books, even fo as to fpcll after the fame Manner, although fome Words may happen to be falle Spelt : They copy it out Letter by Letter 5 nay, even other Blemifhes, which may happen in a Bill, they en- deavour to imitate in the Copying, by reafon if the Bill fhould be loft, they can be more pofitive to the Bill, and do find it eafier to reclaim the fame, by comparing it with the Copy, when it (ball come to hand again. And this they do by all their Bills of Exchange payable and receiveable. 2. Then for thofc Bills they mall accept to pay, they make a Memorandum underneath the Copy of fuch Bills in Writing, by fetting down the Day of the Month when accepted; alio the Party's Name that prefents the Bill, and the Place of his Abode, and the Time of the Bill's filling due, as in the Example following : Exchange, 3456 Guilders, 16 Stivers, 1- Banco, at 34 s. 10 d. Ulance, AmfUrdam^ \ \ December. At Ulance, pay this my firft of Exchange to Mr. William Gemini, or Order, the Sum of Three thoufand four hundred and fifty fix Guil- dei>, lixtecn Stivers, and \. Banco Exchange, at thirty lour Shillings and ten Den.grofs per L. Ster- OfMoneyJFeights,Meafuresy&Q. 193 ling, Value received, and put it to Account, as per Advice from Your humble Servant, To Mr. Richard Ducane, Henry Hop, Merchant in London, 4 J miliary, accepted to William Strong, Servant to Mr. William Coveney, in St. Mary Axey due 23 January £ ^ 3 February ^ J J And when a Bill is prefented for Acceptance, the PofferTor ufually writes under the Directions in the Copy, where the Merchant lives that ac- cepted the Bill, and when due. 3. Another Way praclifed by fome Merchants, is, by having a Book ruled in feveral Columns, to infert the Particulars of their Bills ; that is to fay, The Name of the Drawer, and what Country, The Time of Payment, For what Sum drawn, The Price of the Exchange, Date of the Bill, How much Sterling, To whom payable, To whom ac- cepted, When due, Whether paid, or protefted 5 fomething like the Manner following, wherein the foregoing Bill is entered, O The Mi If paid of returned, protefted for Non- acceptance or Non- payment. 1 «3 1 1 •ana 03^M IS*** elf 3 5*. CO ^ CO 6 To whom ac- cepted and Place of Abode. 1 ^3 1 To whom or Order. B Q :p ■oSuripxg jo 3duj . 4- — * CO fi • o H Q >]Q M1I A",1 |f> ' Mil J* u g c U ri Q ?s etaaztve o ^•5 " 5 O U 'S'S J tJio c c «/> . S -a ^ d « .tt S r- pq >,Jh ri jo _^ w g>?s " h § c x p< trj ^ M ad ^ *n NtJ 3 S V CV U X M 3 w «i rt u rt w rt m sj D 1/1 ^ »5 § J-S _J f 2 * 3 II u s s a 3 i3 « Of Money, Weighty Meafuresy &c. 1 9 ^ EUROPE. CHAR II. Of GREAT-BRITAI X. SECTION I. ACCOUNTS are kept in London, and throughout the Britifli Dominions, in Pounds, Shillings, Pence and Farthings ; and they do reckon 4 Farthings to a Penny, 12 Pence to a Shilling, and 20 Shillings to a Pound. And the Money of Great Britain is compre- hended under the two following Heads ; Imagi- nary and Real. By Imaginary Money Draft be underftood all the Denominations made ufe of to exprefs any Sum of Money, which is not the juft Value of any real Species, of Copper, Silver, Gold, or any other Metal : as a Pound, a Mark, an Angel, a Noble, &c. thefe being all Imaginary, becaufe there are no fuch Species, that go under thofe Names, at this Time current in Great Britain : A Pound being the Value of 20 Shillings ; a Mark of 1 3 4*/. an Angel of 10 Shillings- and a Noble of 6 s. Sd. Real Money ; is any real Species, or Pieces of Money, current in this, or any other Country, 02' at 196 Ha YEs\f Negotiator** Magazine at a certain Price ; fo, that notwithstanding the different Species and Sorts of it in every Nation, any Piece of Real Money whatfoever may come under this general Definition of a certain Quantity of Meral coined by a State, and current at liich a Price, by Authority of fuch State, and paffes cur- rent at its own intrinfick Value j as a Guinea, a Crown, a Shilling, &c\ The real Species, or Pieces of Money of Great- Britain. The leaft valuable Piece of Money current in England is a Farthing, made of Copper, and the next is a Half-penny, valued at two Farthings, made of the fame Metal. In Silver, of A Piece valued at One Penny, or 2 1 j oz. zdwt. Half-pence, or 4 Farthings. Fine, called A Piece valued at 2 Pence, 4 Half- Stcrling. pence, or 8 Farthing?. A Piece valued at 3 Pence, 6 Half- pence, or 12 Farthings. A Piece valued at 4 Pence, 8 Half- pence, or (Sc. called a Groat. A Piece valued at 6 Pence, 1 2 Half- pence, or (Sc. A Piece valued at 1 2 Pence, called a Shilling. A Piece valued at 2 s. bd. called Half-Crown. And Pieces valued at 5 Shillings, called Crown Pieces. In Of Money ) Weights^ Meafures, &c. 197 In Gold, of A Piece called a Guinea, valued at 22 Car rats 21 Shillings. Fine, called A Piece called Half a Guinea, valued Standard. at 10 Shillings and 6 Pence. Quarter Guinea, valued at 5 Shillings and 3 Pence. The Quarter Guineas were coined only in King (leorge the Firft's Reign ; and they were fo few. that, they are rarely to be found but in the Cabinets oPfhe Curious. But the Silver Pence, Two Pences, Three Pence, and Groat Pieces, are not quite fo uncommon as the faid Quarter Guineas. Obfervations on the British Coins* As there are many ufeful Queftions relating to the Weight, Fjnenefs, and Valuation of Gold and Silver, which may be refolved by knowing the Proportions they bear to each other, I will firft prefent the Reader with the Value of the Englifi Coins, according to the faid Rules, and will then prefent him with the faid Proportions, As for Example of the Gold Coins, The Current Value of a Guinea (when 12 Ounces of Bullion is coined into 44 ~ Guineas) is one Pound one Shilling ; and the Weight about 5 diets, gi. Gra. The Standard Value of the fame at 22 Carrats fine, is One Pound. And the Value of the fame as Bullion, at 4/. per Oz. is il is, 6d. | O 3 The 1 9 8 HayesV Xcgociators \L igazine s. d. The Current Value of Half a Guinea ? , • a r 10 6 coined, is J The Weight about 2ikvts. 1 6 1 G$r<*, The Standard Value of the fame, is io And the Value of the fame as Bullion, 7 at \l.perOz. \ 10 9 ? 0/" Silver Coins. 12 Ounces of Bullion behg coined into 62 Shil- lings ; at which Rate, the Crown Piece weighs about ig dzcts. 8 ,516129 Grains. s. d. The Current Value of the (aid Crown, is 5 o Weight 1 9 diets. 8 4. Grains. The Value of the feme as Bullion, at) 5 5. cte. is 3 * The Current Value of the Half Crown 7 , . j . ^20 coined, is ^ Weight gdvjts. 16 ' Grains. The Value of the fame as Bullion, is 2 50; The Current Value of a Shilling, is 10 Weight 3 divts. 20 Grains. The Value of the fame as Bullion - - 11 * .-,0-- The Current Value of a Six Pence, is - 6 Weight 1 diet . 22 A Grains. The Value of the fame as Bullion, is - 5^ re And in the like Proportion the fmallcr Pieces will turn out. Tie Rubs and Proportions are as folloiv : Rule I. The Weight of fine Gold is to that of fine Silver, Bulk and Bulk alike 5 as 1 to 1 ,83896 &c. Ride Of Money y IFelghts^ Meafures, &c. 199 Rule II. Fine Silver is to fine Gold calculated from the Standard Rate 5 the Pound of fine Gold be- ing worth 48/. 10 j. 10 d. and the Pound of fine Silver at 3/. 6 s. 1 1 d. 4. As 1 to 14,49 &c- Rule III. Sterling Silver is to Crown Gold at Stan- dard Value 44 i- Guineas the Pound of Gold, and 3 /. 2 s, the Pound of Silver, As 1 to 15,431 &c. Rule IV. Sterling Silver at 5 s. per Oz. is to Crown Gold at 4/. perOz. As 1 to 16. Rule V. Sterling Silver is to Crown Gold, accord- ing to the Current Value of Silver 1 9 dwts. 8 4- Grains, paffing for p, and 129 ,4 Gra. for 21 Shillings. As 1 to 15,045 &c. Rule VL Fine Gold is in Value to Crown Gold, as 1 to ,9167 &c. Rule VII. Fine Silver is in Value to Sterling Silver, as 1 to ,9260 &c. A Sect. II. The Englifli Weights of Gold and Silver , compared uoith thofe of other Countries. Grains N Englijh ife Troy Weight of ) , Gold and Silver contains | 57 0 The Ounce - - - 480 The Roman Pound contains of the faid ) , Weight \ 5256 The Roman Ounce 438 The Paris Pound, or Standard for Gold ) , and Silver, contains j 75 ^ The Paris Ounce - - 4724. The zoo H a yesV Nepocsatofo Magazine Grains The Spanijh Pound, or Standard for ditto} at Gibraltar \ 7°9° The Spanijh Ounce - - 443 l The ditto Pound of Vitalpondusy contains 7035 The Venetian Pound, or Standard - 5528 The Venetian Ounce - - 460^- The Pound, or Standard of Naples - 495° The Neapolitan Ounce 4 1 24- The Florence, Pi/ir, and Leghorn Pound 1 • or Standard j 5 0 The Ounce - - 4404- The Pound, or Standard at Siena - 5178 The Ounce - - - - 43 14. The Ounce of Genoa for Gold and Silver 40 5-^ The Oak of Conjlantinople, confifting of 1 ^ ^ g 400 Silver Drams j 1 9 1 2 The Silver Dram generally ufed in the) Turks Dominions, as alio in Per/ia, and > 47 in the Mogul's Countries, is taken to be J The Turkijh Sultani, or Egyptian XerifT,^ being a Gold Coin, with which the Barbary and Venetian Chequeens, and Wx Maricnberg Ducat very near agree j TheRotulo of 144 Drams at Cairo for \ ^gg^? Gold and Silver, weighs j " The of Damafcus of 720 Drams 34430* Sect. III. Of the Weights of Great Britain. THE mod: common Weights ufed throughout this Kingdom are two : The Troy Weight, and the Avoirdupois Weight, The Of Money i JVeights^ Meafures, &c. 201 The Troy Weight contains, viz. 24 Grains to a Penny Weight, 20 Dwts, to an Ounce, and 12 Ounces to a Pound ; and is ufed only in weighing Bread, Gold, Silver ; and by the Apothecaries, in their Medicines, 8 ft> Troy is a Gallon, 16 ft a Peck, and 64 ft a Bufhel and hereby Weight and Meaiure is reduced into one another. Wet Meafure is alfo derived from this Pound Troy, both on Land and on Shipboard, as alfo Grain and Corn as before named ; for firft, thefe 1 2 Ounces, made into a Concave Meafure, is named a Pint, 8 of thefe Pints make a Gallon (containing 231 Cubical Inches) of Wine, Brandy, Cyder, &c. according to the Standard of the Exchequer. From hence is alfo drawn the Ailize Meafure of all ven- dible Calks : A Hogfhead is to contain 63 Gallons, a Tierce 42 Gallons, a Pipe 126 Gallons, and a Ton 252 Gallons, and weighs 1890ft Aviordu- pois, or 2016 ft Troy. The Refiners Weights. Thefe Weights are ftill a Part of the Troy, the leaft of which is the Blank ; whereof 24 makes a Periot, 20 Periots make a Mite, 20 Mites is a Grain, &c. and what they call Carats, are the the ~ Part of a Pound, an Ounce, or any other Weight. Of Jewellers Weights. The Weights made ufe of in weighing of Jewels and other precious Stones, are the Parts of an Ounce Troy ; and they divide the faid Ounce into 152 Parts, which are called Carats; and thefe Carats are again divided into Grains, or i Quarters, and into ^ rr* rr, w> &c< Parts, Their zoz HayesV Negocit nofs Ml igaziw Their Way of carting up is as follows, viz. . To know the Amount of a Parcel of Rocka- villes, Weight together i o Carats and -jV, at 165. per Carat. s. I. s d. 10 Carats, at 16 per Carat, is -800 ~ of ditto at 1 6 j. is o 2 o Jr — — 006 Sum Tot. 826 75? /t^ # Diamond) &c. Exa?np. 1. Suppofe that a Diamond in all Per- fections of one Carat Weight to be worth 2 1. 10 s. I would know the Value of another Diamond, of the* lame Perfection and Goodnefs, that weighs 7 Carats. Multiply 7 By 7 Makes 49 Square Carats, at 2 /. 105. per Cu\u 2 10 98 00 10 I 24 10 7) 122 10 Total Value. /, F7 10 Carat, 'tis worth for Sale Exiinip. 2. To know the Value of the great Diamond, brought over by Governour Pitts, fup- pofing it wcigh'd 150 Carats, and it was in all Perfection and of equal Goodnefs of another Stone weighing one Carat, valued at 4/. 10 s. Mult i pi v Of Money ) IVeight s, Meafures> &c. 203 Multiply 1 50 By - 150 I5|o)ioi25'o( 22500 Carats at 4/. ioa L. 675 perCmt, 4 qocoo io t 1 1250 Z. 1 01 250 The Total Value of the faid Diamond. And if it were to be fold by the Carat, it would be worth 675/. a Carat. Sect. IV. Of Avoirdupois Weight. IN Avoirdupois Weight 1 6 Drams is one Otfnce, 1 6 Ounces is one ib, and 28 lb makes a Quar- ter of an Hundred Weight, or of 1 12 ib, and 20 Hundred Weight, or 2240 ib Weight Avoirdu- pois is a Ton Weight. This Weight is in ufe for weighing all grofs Goods, fuch as Sugars, Hemp, Flax, Butter, Cheefe, (3 c. of which there are three Quintals, viz. 1 . Of a 1 00 ib, by which Sugars, (3 c. are bought and fold in the JLnglijh Settlements in America. 2. Of 112 ib, by which all grofs Goods are weighed throughout England. 3. 120 ib, called the Stannery Hundred, by which Tin, (3c. is weighed to the King's Farmers. WOOL is commonly bought by the Tod, 7 lb Avoirdupois makes a Clove, 14 lb a Stone, 28 1b a Tod, 182 lb aWey, 364 ib a Sack, 436 lb a Laft, i. e. 2 Cloves is 1 Stone, 2 Stone is one Tod, 6i Tod one Wey, 2 Weys one Sack, z 04 H a y e s V Negociators Magazine and 12 Sacks is a Laft. Bat when it is ftapled or forted, it is fold by the Pack, containing 6 Score, or 120 lb. Lead Weight. Lead is fold by the Fodder, and a Load is 175 tb. A Fodder at London weighs 19-^Ct. Wt. at Newcajlle -21 - - at Stockholm - 22 - - at Hull - - 19 i Ct. Stannery Wt. of 120 tb to the Ct. From this lb Avoirdupois of 16 Ounces there is formed feveral other Weights : A Stone of 7 Tb, 8 Tb, 10 Tb, 14 tb, 16 Tb, 20 lb; and fome- times, a Clove of 7 tb, 8 ft, and 10 lb; and fometimes, a Tod of 20 lb, 28 lb, 32 lb, Gfc. Raw Silk from Perfia and Turkey is fold by this lb, but a Tb is accounted 24 Ounce?, or 14. fb. Gun-Powder. 100 lb Avoirdupois is a Bar- rel, and 24 Barrels a Laft. Cheese and Butter from E/Jex are weighed by the Clove, or I Stone. 8 tb a Clove, 2 Clove, or 16 lb, a Stone; 16 Stone, or 32 Clove, or 256 lb, a Wey : But in Suffolk they do allow 42 Clove, or 336 lb, to the Wey. A Firkin of Butter fhould weigh 96 ib, and a Firkin of Soap 60 fb, and 4 Firkins of either make a Barrel. Sect. V. Of freighting Ships. Til E Term Ton made ufe of in freighting Ships is meant 2000 lb Weight > fo that when 1 1 2 lb to the Ct. Of Money y Weights^ MeaJiiresfiCc. 205 when it is laid, that a Ship is of lb many Tons, it is to be underftood that a Ship can carry fo many times 2000 tb Weight. Now thele Tons are of two different Sorts, both in regard to their Weight and Meaiure, according to the Nature of the Goods. By Weight they do generally allow 2000 tb A- voirdupois, but for bulky Goods they make fome Abatement off of the Weight; as in Almonds, I do think, they do allow but 1S00 tb to a Ton; and in Wool but 1000 lb: But for thele, efpeci- ally Wool, Cotton, &c. they do commonly agree at fo much a Pound Weight. By Meaiure, there is generally allowed to the Ton 2 Pipes, or Butts of Wine, lb many Pieces of Brandy, fo many Barrels of Herrings, lb many Butts of Ovl, &c. for barrelled Goods, and fome- times by the C. Weight. But for Bale Goods, Boxes, and Cafes, &c. they do generally reckon 40 cubical Feet to the Ton. But in Holland, and other Northern Countries, they only talk of Lafts, which in freighting of Ships contains . two of the Engtijh Tons, or 40c 0 lb Weight ; and they make their Agreement at lb much per Laft accordingly. Sect. VI. Meafiires for Linen, Silk, Woollen, &c, TH E Meafures moft in ufe at this Time throughout this Kingdom are three Sorts, viz. I. Is a Yard, containing 16 Nails, or 36 Inches, or 404 Geometrical Lines of the Pie du Roy of France , r~ o 6 H A Y E S V Negotiators Magdkint France, and by this Yard all Sorts of Woollen Cloths, Wrought Silks, moll Linens, Tape, Gar- tering, &c. are meafured. 2. Is an Ell, containing 20 Nails, or 45 Inches, or 505 of the above Geometrical Lines; and this is of ufe only in meafuring fome few particular Li- nens, called Hollands. 3. Is a Flemijh Ell for meafuring Tapeftry, con- taining 12 Nails, or 27 Inches, or 303 of the afore- faid Geometrical Lines. There has been another Meafure, called a Goad, only ufed in meafuring Welch Frizes and Frizadoes, containing 55 Inches ; but this lalt Meafure is now entirely out of ufe. Sect. VII. Of Fuelling. WHICH, according to Statute, are Coals and Wood. Of Coals, 36 Bufhels go to a Chaldron, and on Shipboard 2 1 Chaldron are reckoned to a Score, and 112 tb Avoirdupois is an Hundred Weight. 8 Chaldron at Ncivcajik makes at London about 15 Chaldrons. Wood is affized into Shids, Billets, Faggots, Fahvood, and Cord Wood. A Shid is to be 4 Foot long, and according as they are marked and notch- ed, their Proportion muft be in the Girth ; viz. if they have but one Notch, they mult be 16 Inches in Girth, if 2 Notches 23 Inches, if 3 Notches 28 Inches, if 4 Notches 33 Indies, and if they have 5 Notches they muft be 38 Inches about. Billets Of Money, freights , Meafures, &c. 207 Billets are to be 3 Feet long, whereof there fhould be 3 Sorts, viz. a Single, a Cafk, and a Calk of two. The rirft is 7 Inches, the fecond 10 Inches, and the third 14 Inches about ; and they are fold by the Hundred, five Score to the Hundred. Faggots are to be 3 Feet long, and at the Band 24 Inches about, befides the Knot. Of fuch Fag- gots, 50 goes to a Load. Bavins, and Spray Wood, are fold by the Hun- dred, and 100 are accounted to a Load. Cord Wood is the bigger Sort of Fire Wood, and it is meafured by a Cord, or Line, of which there are two Meafures; that called the 14 Foot Cord, is to be 1 4 Feet in length, 3 Feet in breadth, and 3 Feet in the height. But the other, which is fmaller, is 8 Feet long, 4 Feet high, and in breadth 4 Feet. Sect. VIII. Of Corn Meafure. THE Gallon is found by the Statutes of England to hold 8 Pints, and to weigh 8 ib Troy Weight. ft 2 Gallons, a Peck, or 1 6 or Pints, or 2 Gall5. 4 Pecks, a Buihel, or 64 or 8 Gall5. 2 Buihels, a Strike, or 128 or 16 Gall5. 2 Strikes, a Comb, or 256 or 32 Gall3. 2 Combs, a Quarter, or 512 or 64 GalK 6 Quarters, a Wey, or 3072 or 384 Gall5. 10 Quarters, a Laft, or 5 r 20 or 640 Gall5. However, z o 8 Ha YES V Xtjrocirttors AL m izme O o However, a Ton of Wheat in London commonly weighs, Avoird. Wt. between 2200 and 2500 ib. Of Rye - between 2 100 and 2240 ft>. Of Barley - between 1 709 and 1800 ib. Corn is ufually fold in England by die (Quarter, and 5 Quarters is commonly reckoned to a Ton in Freight. And according to the above Troy Weight, a Ton of Corn weighs 2400 lb Avoirdupois Wt. Sect. IX. Of Salt Meafure. OF this Commodity very great Quantities, of late Years, have been made in England^ and tranfported from thence to divers Places beyond the Seas ; and it was ufed to be bought and fold by Meafure, as Corn now is : But at this Time it is fold from the Pits only by Weight, reckoning 7 th Avoirdupois to a Gallon, 56 ib to the Bufhd, and 42 Bufhels to the Ton for Freight; and £ Bufhels is one Sack, and 4 Ct. Wt. is one Quarter. Sect. X. Of Long Meafure. LONG MEASURE for Timber, Horfes, &c. 3 Barleycorns is one Inch ( or a Finger's Breadth) 4 Inches is one Hand in Horfc Meafure, 1 2 Indies is one Foot, 5 Feet a Geometrical Pace, 6 Feet a Fathom, and 161 Feet a Pole or Perch, 40 Poles a Furlong, 8 Furlongs is one Mile Sta- tute Meafure. N. B. The Pole and Perch differ from the a- bove Meafure in (event! Parts of the Kingdom. Land Of 'Money Weights, Meaf ares, &c. 209 Land Measure. 9 lquare Feet is one lquare Yard, 272 lquare Feet is one lquare Pole or Perch. 40 lquare Poles is one lquare Rood, and 4 fquare Roods is one lquare Acre, and 640 lquare Acres is one lquare Mile, according to the Statute Mealure of this Kingdom, The Difference of Miles ufed b\' tie Europeans. The Word Miles is tiled by the Italians, Germans , Danes , Suedes, Norwegians, Scots, Englijl\ and Irijh. The French, Spanif:, and Portugiieje Mile is two proper Miles, called by them a League. The German Mile is more than three Englijh Miles, or rive Italian Miles. The Dutch Miles are between the French and German Mile. The Ps/.yr 2nd Dan if: Miles are like the German Mile, more than three Englijh Miles. The Gothick and S'iedif: Mile is no lefs than five or Tlx, and lbmetimes eight Italian Miles. The Italian Mile and half, being one Englif Mile. The Sivitzers, by reafon of their Mountains, rec- kon their tedious Journies more by the Space of Hours, than by Diltance of Miles. The Mo/coi'ites reckon by a Dirtance called a Verft, about three quarters of a Mile. The Turks have ::o Distinction of Ways by Miles, nor Davs bv Hours. The Perfans makq ui"e of their Parifanga or Fariach (each contains 30 Staaia or Furlongs) about four Miles. The Geitiefe ufe the Mealure of Ychan, being the Journey of one Day ; as alio of the Courfe or Cofe, a Mealure among the Ea/i Indians, contain- - ing a Mile and a half, and lbmetimes two Miles. P SzCTi 1 1 o Ha YE s'i Negocintors Magnzhie S E c t. XI. Of Ale and Beer Meajure. TW O Pints makes one Quart, 4 Quarts one Gallon, to contain 2S2 Cubical Inches, and holds 1 o tb 3 Ounces Avoirdupois Weight of Rain Water, 8 Gallons is a Firkin of Ale, 2 Firkins a Kilderkin, 2 Kilderkins a Barrel, • and 12 Barrels a Laft. Of Beer, 9 Gallons is a Firkin, 2 fuch Fir- kins make a Kilderkin, 2 Kilderkins a Barrel, 1 • Barrel is one Hoglhead, 2 Hogfheads is one Pipe or Butt, and 2 Pipes or Butts is a Tun. Sect. XII. OfWifie, Brandy Cyder, Sec. Meafure. TWO Pints one Quart, 2 Quarts one Pottle, 2 Pottles one Gallon, containing 231 Cubi- cal Inches, and holds 8 ft> 1 oz. 4. drams Avoird. Weight of Rain Water, 18 Gallons one Statute Runlett, 42 Gallons is one Tierce, 1 \ Tierce or 63 Gallons one Hoglhead, 84 Gallons one Pun- cheon, 126 Gallons or 2 Hoglheads is one Pipe or Butt, and 4 Hoo;fl\eads or 2 Pipes, or 252 Gallons, is one Tun of Wine, Brandy, Cyder, Vinegar, &c. according to Statute Meafure. And it is laid that any VelTel that holds 50 ft Weight of Rain Water, Will hold 53 lb of River Water Or, 45 ft of Butter or Oyl 3 9 lb of Linfeed Oyl 35ft) of Honey 8<;oft of Quickiilver. Sect, Of Money y I Weights, Meafures, &c* 211 Sect. XIIL Of Oyl, &c. HOWEVER theCuftom of London in many Commodities is found to difagree in their Meafures from Statute * as in Oyl it is obferv'd* that 236 Gallons, by Merchants called the Civil Gauge, is ordinarily fold for a Tun, and not 252 Gallons, as above mentioned. Eels, 25 is a Strike, and 10 Strikes is a Band. Of Herrings, 120 is a 100, and 1200 a Barrel, and 12 Barrels is a Laft. Furrs, Flitches , Greys, Gennets, Martens, Mincks, and fable Skins, 40 Skins make a Timber ; and fome other Skins fivefcore to the 100. Paper, 24 Sheets a Quire, 20 Quires a Ream, and 10 Reams make a Bale. Parchment, 12 Skins to a Dozen, and 5 Dozen to a Roll. CHAP. III. Of North Britain, or Scotland, IN this Kingdom they did ufe to keep their Accounts three different Ways ; viz. In Scotch Pounds, Shillings and Pence : In Scotch Marks : And in Englijh Pounds, Shillings and Pence. Count- ing 20 Scotch Shillings to a Pound, and 12 Scotch Pence to a Scotch Shilling, and 1 3 Scotch Shillings and 4 Scotch Pence to a Mark. A Scotch Shilling P 2 being ci2 Ha yes'j "Negotiators Magazine being then only valued at the Price of an EngSJB Penny 5 and their Mark was valued at no more than 13^. Englijh Money. But fince the Union of the Two Kingdom?, the fame Species of Gold and Silver as are coined in the King's Mint in the Tower of London, pafs current in this Place. And their Weights and Meafures are much the fame as thofe of the other Parts of South Britain, or London. They exchange with London at fo much per Cent. CHAP. IV. Of Ire la n d , or Dublin, IN this Kingdom they keep their Accounts in Pounds, Shillings and Pence ; reckoning 1 2 Pence to a Shilling, and 20 Shillings to a Pound JriJJj Money. The Irijh have not the Privilege of Coining Money as they have in Scot/and. The Coins cur- rent among them are fome Englijh, fome Spanifi, fome French, fome Portuguefe, and fome Dutch ones, fifc Their Weights and Meafures are the fome as thofe of London. The Exchange between London and Dublin runs from 4 to 12 per Cent, and they exchange to moft foreign Places by the Way of London. CHAP. Of Monte) \ U 'eights, Meafurcj, &c. 213 C H A P. V. Of America and the West Indies. TTX all the Britijh Dominions in America and I the Weft Lidies they keep their Accounts in Pounds, Stuffings and Pence, as they do in London \ but in the above Places they call their Money Currency. And in moft of the Britijh Settlements upon the Continent of J4merica\ they have very few Coins of any Sorts circulating among them \ and what few they have, are chierly French and Spanijb Pieces : So that they are obliged to deal in what they call Paper Money. For Notes of Hand do pais fo common among the People of Neiv Eng- land, as I have been told, that they are frequently given for lb fmall a Sum as Five Shillings, and fometimes under that Sum : This being what they call their Paper Money ; and it being fubject to fo many Cafualties, that it caufes a very great Undervalument of their Currency ; it being fome- times at 6 or yco per Cent. Difcount for Sterling (or for good Silver or good Gold.) Nay, in Ca- rolina and Ne^v England, the laid Currency has fometimes been known to be at above 8 or 900 per Cent. Difcount. They coin no Money in any of the above Bri- tijh Settlements, but only in ffew England ; and there but only one Piece, which is called the New England Shilling ; It is made of good Silver, p 3 un % 1 4 Hayes'j" Negotiators Magazh/e and is much about the Value of a common Englifo Shilling. This Piece they rirft coined in Oliver Cromwell's Time ; and I have been told, they continue to coin the faid Shilling to this very Time, and do ftill retain the firft Date upon the lame. I have never feen one of thefe Shillings, but I am told, that on one Side is a Palm-branch and a Laurel united together like a Tree \ and on the Reverie Side is St. Georg/s Crofs in a Shield, conjoined to another Shield, within which is an Harp for Ireland, vulgarly called a Pair of Breeches. In all the Engl/Jh Iflands in the Weft Indies, they have fo great a Plenty of foreign Coins, that their Currency is fometimes at no greater Dis- count than 25 per Cent, and feldom more than at 50 per Cent. Their Weights and Meafures in all the afore- faid Colonies and Plantations are the lame as thole of lAndon% differing only in their Kintals or Hundred Weight ; their Hundred being only 1 00 % Avoirdupois, and that of London is 1 1 2 ife Avoirdupois. SECTION I. THE following Table (hews at what Value the (aid foreign Coins arc to pais in the Englijh Colonies and Plantations on the Iflands in jbnc 'ici:, called the Weft Indies \ according to an Act of Parliament, made in the Sixth Year of Queen Anne, for ascertaining their Value. Pieces Of Money ^ JVeights^ Meaf/res} &c. 215 Wehht trueVal. Cur1. Value. chut s. d. f. x leces or y [OKI r laic j or otvu 1 7 12 4 6 b 0 L/lllU Ul IlCvV - - - lid. 74- j_ Q 2 * JvlcXlCO QlllO - - I 7 I 2 4. r 6 6 0 riucr uiiio • I 7 1 2 4. T 6-1 6 0 reru ciiLto (oiQ xiatej - I 7 I 2 J. r c D 18 A r D 10 I \ Uucauoons or rianciers 20 21 5 6 7 4 French Crowns or Ecus - J7 12 4 6 6 0 Crufadoes of Portugal - - 1 1 4 2 3 9 24 Three Gilder Pieces of Holland 20 7 5 6 I 6 Old Rix-dollars of the Empire 18 10 4 6 0 The half Quarters, and other Parts in Propor- tion to their Denominations ; and light Pieces in Proportion to their Weights. And to remedy the Inconveniencies, which was caufed by the different Rates at which Pieces of the fame Species was current, it was ordered by- Proclamation, and confirmed by the faid Act of Parliament, that, after the Firft of yanuary 1704, no Filler ^ Mexico or Sevil Pieces of Eight, though of full Weight as above, fhall be received nor paid at above Six Shillings apiece -> and the Half, Quarters, and the other lelTer Pieces in Pro- portion. And the Currency of all the other Pieces a- .bovementioned are not to exceed the fame Pro- portion. And the faid Adt enjoyns, That if any one fhall receive or pay any of the faid Pieces for any more than as above, they fhall forfeit Ten Pounds, P 4 A* : 1 6 H a y E s'j 'Sejrociiitors Mi?(rfizh/e As I did before, they keep their Accounts throughout all the Enghjt: Settlements in America in Pounds, Shillings, Pence and Farthings, the lame as thev do in Jjmdm ; but their Pounds, Shillings and Pence, which they keep their Books in, is what is called Currency ; and the Difference between the Pounds, Shillings and Pence of Lon- don and their Currency, is between 20 and 800 per Cent. They do often draw upon Lcndon. If it be from any of the luands of the Weft Indies, they give from 125 to 170 Pound of their Cur- rency, to receive 100/. in London : But if it be from Nezc England, Carolina, or on the Continent, they give from tjbt. to 800/. and upwards of their Currency for igo/. in London, by reaibn, as it is (aid before, that Gold and Silver is lb very iearce anions; them. Sect. II. A Weft India Table. "\\ THEN any Sum is advanced upon an VV Qfl&cetf Sterling Silver, upon 5 Shillings for an Ounce ; or when any Sum is advanced over 4 /. for an Ounce of Standard Gold ; this Table fhews how much the laid advanced Money a- mounts to per Cent, from 50 /. advanced upon 4 /. an Ounce of Standard Gold, to the Part of a Penny ; and upon Silver, from 2 /. advanced upon 5 Shillings for an Ounce, to the ^ Part of a Penny. The Of Money, Weights, Metres, 8Cc. 1 1 7 The Weji Id! a Table. 50 Pounds advanced on 4 /. am our. is to 45 Pounds on c:::o to -.ds : 5 Pounds :c Pounds 2 ■ ? ' ' . y . . I P ' : i": Pounds 1 7 P . 1 Pounds 15 Pounds i_> P /runs I : Pounds 1: Pounds II p .. . .-. '. . . ic Pound: 0 Pc ind ads t B i] ids 5 1 _ P:„nu: 3 Pounds ; 2 Pounds 1 Pound 19 Sndd c, :n an Gone it Shillings 1- Shi u ; 16 Shillings if Shillings i- Shillings Or. G:!i ::r C; /. /. 4 I 2£G Or. ts-Cf. I. s. 4. 11:5 I 010 250 225 2 CO 1 75 I £ p 1 1£ ICO 75 - - D *• 3 - 22 - 2 r - 20 -18 - 17 I £ 10 Cf I £ 19 - - -\ - - >J -> — o 3 CO The % 1 8 Ha YE ss Kegociators Mngnziue The lame continued. On Go! J perCt. /. /. d -16 05 — -*5 -*3 15 — -12 10 — -11 05 — -10 - 8 15 - - 7 10 — - 6 05 13 Shilling.1; 12 Shillings 1 j Shillings jo Shillings 1 9 Shillings 8 Shillings 7 Shillings 6 Shillings 5 Shillings 4 Shillings 3 Shillings • 2 Shillings 1 Shilling j 1 Pence on an Ounce to i o Pence 9 Pence — 5 Pence 7 Pence 6 Pence 5 Pence — 4 Pence 3 Pence 2 Pence j Penny — 02 01 3 Farthings on an Ounce — 01 06-J 2 Farthings — 01 — i 1 Farthing 06^ 3 2 1 1 1 — 18 09 — 16 08 — *4 07 — 12 06 — 10 05 '5 — 10 — °5 — 02 1 1 — 10 ^ of a Penny - of a Penny - ^ of a Penny - v| y of a Penny 06 °3 04 02 02 01 01 06-1 01 1 064. 01-.V * s •rrr OnSilv^rC/. /. s. d. 260 240 220 — — 200 I 80 160 — — 140 120 — — 100 80 60 40 20 18 06 08 13 °4 16 15 13 06 08 II 13 04 10 8 06 08 6 13 04 5 3 06 08 I 13 04 105 — — lis 08 — 08 04 — 04 02 — 02 01 — 01 —I 064. o3i The Of Money, Weights^ Meafures, &c. 219 The fame explained. Suppofe that Silver was bought in Jamaica at 7 s. 5|- d. of their Currency per Ounce, to know how much the advance Money amounts to per Ounce, 3. d. From the given Price in Currency 7 si per Ounce Subftract for the Sterling Value 5 o per Ounce The Remainder is the Sum advanced 2 5-1 per Ounce Then to know how much the advanced Price amounts to per Cent, look in the foregoing Calcu- lation, /. s. d. Firft for 2 s. which upon Silver] oQ 0Q Q amounts to--- - j ^ r Then look for $d. which is 8 06 08 per Cent. Then look for id. which is o 16 08 per Cent, The 2 5. si d. advanced on the 7 n . Ourxe amounts to - - J 49 °3 04 /*rC«*f, which is the Difcount that Currency mould be at3 when Silver is fold for 7 j. Ounce. An Example of the Gold. Suppofe that Gold is bought in Carolina at 9 /. 1 5 s. j d. (of their Currency) per Ounce, and one would know fyow much the advanced Sum amounts to fer Ounce, From 2 2 o H a y E 8 j Nefrocintors Magazine From the given Price - - 9 15 07 />rr Ounce Take the Sterling Value - - 4 00 00 per Ounce The Anf. the advanced Price is 515 07 jtor Ounce Then to know how much the advanced Price upon the (aid Ounce of Gold amounts to Cent. I. j. ^ In the fore^oina; Table, look 7 „ r j ° 0 • ' >i2s 00 00 per Cent. tor 5 /. amounting to j J t Then look for 1 5 j. which is 18 15 00 per Cent. Then look for 7 d. which is - 00 14 07 per Cent. It (hews that 5 /. 15 yd. ad- ? : vanced on an Ounce of Gold isj I^ °9 °7 rer en • Which is indeed the Difcount that Currency mould be at, when an Ounce of Gold, valued at 4 /. Sterling, is fold for 9 /. 15 c. 7 d. of their Currency. Sect. III. A Table for valuing foreign Silver Coins and Bullion. T \ T 1 1 E N the Finenefs of Silver is known, VV mc following Calculations are to ihew how much an Ounce of the fame is worth, ac- cording to the prefent Value of the Englijh Silver Coins, being Five Shillings and Twopence an Ounce (from ihe bed of Silver of 1 2 Ounce of fine Silver to the Pound Weight, to the coarfeil af Silver con- taining but a Pennyweight of fine Silver in a Pound Weight) to the ttW part of a Penny Sterling. Silver Of Money, freights, MeafuresfiZc. zzi per Ounce. 1113. s. d. 1 OOO rnnfainincr T2 Ounces of fine Sil- { r 07 O27 \;pr i n -ifKWi" iq worth Onnre \5 rTinfiiniho* T T OiinrP nOz. i^-f dwts. of fine Silv. Silver contains j D~ But when the AlTay Silver is vwrfe than dard, fubftract the Quantity worfe from the Stan- dard of 1 1 Ounces 2 dwts. fine, the Remainder will be the Finenefs of the Affayed Silver. As for Example, Suppofe the allayed Silver is worfe than Standard 1 Ounce i4f dwts. then to know the Finenets of the fame, From 1 1 Oz. 02 dwts. the Finenefs of Standard Silv, Subtract 1 Oz. 14-rdwts. worfe. Remains 9 Oz. oyfdwts. Finenefs of the affay'd Silver. The like is to be done in finding the Value of any Gold Coin. Then 12 4 H A Y E s V Negotiator's Magazine Then to know how much an Ounce of Silver of any Finenefs is worth. Example I. To know the Value of an Ounce of Silver, a lb Wt. of which contains 1 1 Ounces 1 54- dwts. of fine Silver. s. d. loooths. In the foregoing Table you will find 7 That Silver of 1 1 Ounces fine is worth \$ 1 44 2 of 1 5f dwts. is worth 04328 The Total is the Value of the faid 7 Silver, being - - $5 5 770 per Oz. Example II. To know the Value of an Ounce of Silver, that is 9 Ounces 1 2 dwts. fine. s. d. ioooths. In the foregoing Table you will find 7 ^ That Silver of 9 Ounces fine is worth } ^ 9 1 1 ~? ^ of 1 2 dwts. fine is worth o 3 351 3I? The Total (hews the Anfwer to be 4 "6 262 per Oz. And having thus found the Value of an Ounce, the Silver Coin being weighed, the Weight thereof mu ft be caft up at the Price that an Ounce of the faid Silver is valued at, and it will ihcw the intrin- fick Value of any Silver Piece of Money whatlb- cver. The like Rules are alfo to be obfcrvvd in the following Table for valuing Gold Coins. Sect* Of Money, TFeightsy Meafures> &c 225 Sect. IV. A Table for valuing Gold Coins and Bullion. WHEN the Finenefs of Gold is known, the following Calculations are to (hew how much the fame is worth, according to the prefent Value of the EngliJJ: Gold Corns or Guineas at 3 /. 17 s. ici-d. per Ounce (from the fined: of Gold of 24 Carats fine, to the coarfeft of Gold containing but ± of a Grain fine) to the 1000th Part of a Penny Sterling. per Ounce. ths. containing 24 Carats fine is 1 ' s' ' 1000 worth - - - - - 1 4 °+ 11 454 containing 23 Carats is worth 4 01 04 977 -22 Carats- — 3 17 10 500 21 Carats 3 14 04 023 1 20 Carats 3 10 09 544 • 19 Carats 3 07 03 068 18 Carats 3 03 08 591 17 Carats - — 3 00 02 114 i 16 Carats . — 2 16 07 637 15 Carats — 2 13 01 160 — 14 Carats — 2 09 06 68 3 1 — - 13 Carats 2 06 00 20G — 12 Carats 2 02 05 729 > 11 Carats « 1 18 11 250 10 Carats - — 1 15 04 772 > 9 Carats 1 11 10 295 ■ 8 Carats - 1 08 03 818 • 7 Carats — 1 04 09 340 « 6 Carats — ■ — 1 01 02 863 — ; — 5 Carats o 17 08 386 Gold 226 H a y e s V Negotiator j Magazine per Ounce. The lame continued. . ths* s. a. iooo Gold containing 4 Carats fine is worth 14 01 909 3 Carats 10 06 431 2 Carats 7 00 954 1 Carat 3 06 477 j5 Grains . 3 03 822 . ji Grains 301 167 34- Grains 2 10 512 3 Grains 2 07 257 24 Grains 2 05 202 — 2 J Grains 202 548 2~ Grains 1 1 1 892 2 Grains ■ 1 09 238 1 J Grains 1 06 583 . 1 ~ Grains 1 03 928 1 4- Grains 1 01 274 1 Grain o 10 619 4 °f a Grain o 07 964 of a Grain o 05 319 J of a Grain o 02 654 The fame explained. The EngliJ): Standard for Gold is 22 Carats of pure fine Gold, and 2 Carats Alloy, /. e. a Pound or an Ounce Weight of Gold is divided into 24 Parts, called Carats, and each of thefe Carats are divided into 4 Parts, called Grains, and the Grains are divided into 4 Parts, called Quarter Grains. Now to find the Value of any foreign Gold Coin, the fame Rule mufti be obferved here as are laid down in the foregoing Pages for finding the Value of any foreign Silver Coin. Then to know how much an Ounce of Gold of any Finenefs is worth. Example. Of Mor/ejj Wrights, Mcafures, &c. 227 Example. Suppole it were requefted how much an Ounce of Gold of 23 Carats 2 Grains fine is worth. /. d. iooothy. The Gold Table (hews that Gold I ' - ^ of 23 Carats fine is worth \ 1 °4 977 £ Ditto of 2 Grains fine is worth - o oi 09 238 J It fhews that Gold of 2 2 Carats 1 _ ' 2 Grains fine Is ^orth - - j 4 °^ 02 ***** Again, Suppofe that you would know what one ar fine. Ounce of Gold is worth that is 20 Carats ?4 Grains /. s. d. iccoths. The fame Table fhews that Gold 7 of 20 Carats fine is worth J f 10 °9 544 Ditto of 3 -I Grains is worth - o 03 03 822 And an Ounce of Gold 20 Carats 7 l\ Grains is worth - - | 3 *4 01 3 CHAP. VI. Sect. I. Of the European Exchanges in General* i.TN dealing in Exchange the Buyer may bar- X gain at a greater or leffer Advantage, as the Bills will permit ; and the Drawer is to be fo mind- ful of his Credit^ as not to draw upon dishonour- able Terms. Q_a 2, Rib •2 2 8 Hayes'/ Kegocintors Magazine 2. Bills cannot always be negotiated to an Ad- vantage, neither are they always fettled at the lame Price, becaufe Circumftances and Times make them vary. 3. Exchange and Wind are always varying, therefore in bargaining for Bills, a Man muft be quick and prudent. 4. When Bills are fcarce, the Drawer may keep up his Terms ; and when there are plenty of them, he mufl be quick in linking a Bargain. 5. If nothing mould be mentioned but the Price in bargaining for the Bill, fuch Bargains are always upon fuch Conditions as are molt ufual in ex- changing to the Place, where the Exchange is /nade for. 6. But if the Bill is to be for a longer or (hort- er Time than the common Ufances of the Place, this mufl be agreed upon between the bargaining Parties ; and fo it mufl: be, if the Money is to be paid in different Species from what is ufual for Bills, or if it mufl be paid at a different Place. Sect. II. "Stewing when Brokerage and Provifion are to be charged. i.TFi orders B. to remit a Sum of Money to a certain Place, and B. draws on A. for the Value B. muft charge the remitted Sum with Provifion and fingle Brokerage. 2. The Difference between remitting and draw- ing is as follows: If it be to one and the fame Plat e, you are to cbferve that you are to pay the Provifion and Brokerage to your Corrcfpondent that Of Money^ Weight sy Meafuresy &c. 229 that you draw upon, if he draws back again upon you ; but if you remit to him the Value, he is on- ly to be allowed Proviiion. 3 . To know the Difference between remitting a Sum directly to the intended Place, or by the Way, or through another Place. Now you are to obferve, if the Money is remitted ftreight, you are only to be at the Charge of Brokerage of the drawing j but if the Money is remitted by the Way of another Place, you muft be at the Charge of the Brokerage and Proviiion, and muft be longer out of your Money. 4. If you draw upon your Factor, v/ith an Or- der to value himfelf upon you, he muft add his Proviiion and Brokerage to the Sum the Bill was drawn for, and re-draw for the Sum Total. 5. If you remit to your Factor, for him to re- mit the fame back again to you, your Factor muft deduct his Proviiion and Brokerage from the Sum you remit to him, and the Remainder he muft re- mit to you. 6. If you order your Factor to remit to one Place, and to value himfelf upon another, he muft add his Provifion and double Brokerage to the Sum remitted, and value himfelf upon you for the whole. 7. If your Factor to your Order has drawn a fixed Sum, and is to remit the Value to your Or- ders, he muft deduct his Brokerage and Provifion from the Sum contained in the drawn Bill, and the Remainder is the Sum that he is to give you Credit for, or to remit you again, in Confideration of the drawn Bill. Qj 3- if 230 HayesV Kegociators Magazine 8. In calculating a Negotiation of Exchange, the Proviiion muft be reckoned fo many Times as the fame has been exchanged, returned, or bar- gained for by the Factor 5 but the Brokerage is not allowed to any Factor, unlefs he really bargains, concludes, or trades, or hath drawn or remitted the Sum. Sect. III. Shewing how to caji up a returned Bill IN cafting up the Amount of the Re-exchange and Charges of Bills protefted for Non-payment, the Price of the Re-exchange muft be the fame as it (hall be, at the Time of protefting, from the Place where the Bill lhould have been paid, to the Place where the Bill muft be returned, which Sum muft be augmented with Proviiion, and Brokerage, and Poftage of three Letters. Sect. IV. Shewing how to fai&to tie Proft or Lofs. TO calculate the Lofs or Gain of a Remittance made by yourfelf, and drawn back again ; if there be a Profit, it muft be leffened with dou- ble Brokerage of the giving and drawing back a- gain ; and if a Lofs happens, it muft be augment- ed with the fame. And to calculate the Gain or Lofs upon a Rev iTiituuce that is cftectuallv made, and fo is return- ed Of Money >> FFeights^ Men iftires, &c. 231 ed again : The Proviiion and Brokerage muft firft be deducted from the Sum that is to be remitted ; the remaining Sum muft be cafl up at the fettled Price, and will be what the Re-exchange does amount to ; and the Difference between this laft Sum, and the Sum that was at firft remitted, is the Gain or Lofs upon fiicfa Negotiation. London. Almoft all the foreign Exchanges made for England, Scotland, or Ireland, are made at London, the Courfe or Price of Exchange being here fixed for the moft eminent Places of Trade in Europe. And it is remarkable, that in London, although there is plenty of foreign Monies, particularly in Gold, that daily pafs from Hand to Hand in Trade, at certain Prices, according to their Weights and Finenefs yet no Man is obliged, according to Law, to take it in Payment : So that it may truly be faid, that all Payments are here made in the cur- rent Coins of this Kingdom ; nor will they in the Bank of England receive any other but our native Species of Gold or Silver, nor do they make any Payments in any other Coin. So that although Diverfity of foreign Coins do daily pafs from Hand to Hand, yet it does noways affect Trade, nor does it caufe any Difference between our current Money and the Monies that is to be received or paid for foreign Bills of Exchange, as it does in other Coun- tries where Banks are efrablifhed, where the Diffe- rence amounts to 4 and 5 per Cent, nay, in fome Places, to above 30 per Cent, this being what the Foreigners call the Agio. Sect* z 3 % Ha YE s V Negrth itm *j Magazine Sect. V. Rules for London to remit or draw by. 17 O U are to obferve, that to Spoilt, France, j[ Portugal, or any other Place, where they exchange by the Piece, fuppofe at 3 s. 5 d. per Piece of Eight, 34T d. per Crown, or at 5 s. 3 d. per Milrea ; the lower the Price is, the better it is for London to remit, becaufe if I deliver 100 /. Sterling for a Bill upon Spain, France, or Portugal, I can have more Pieces of Eight at 3 s. 2 d. than at 3 j. 5 d. apiece, or more Crowns at 3 2 d. than at 34f/. per Crown for the faid ico/. and the contrary is to be obferved in drawing. But to He/land, Hamburgh, and Flanders, where the Exchange is at fo much per L. Sterling, the higher the Price, the more it is for the Advantage of London to remit to thofe Places ; for every one muft know, it is better to get 35 s. 6 d. Dutch Money for 20 Shillings Sterling, than 34 s. 6 d. for the fame : And the contrarv is to be obferved in drawing. And fo for Ireland, and the Weft Indies, where they exchange by the 10c/. the higher the Courfe between London and thefe Places are, it is better for London to remit than to draw ; that is to fay, it is better to pay 100/. in Loudon, and receive 112 I. m Ireland, than to pay the lame Sum in London, and to receive but 10^/. in Ireland : The fame may be faid of die Weft Indies. Sect, Of Money, Weights, Meafures, &c. 233 SECTION VI f Amsterdam, Nine Pounds Sterling is the Par of 100 Florins, or One Pound Sterling is the Par of 1 1 Florins, 2 Stivers, 2 % Deniers. Antwerp, Nine Pounds Sterling is worth 1 6 /. Flem. fo that 1/. Sterling is the Par of 1/. 15 b\d. Flem. Cadiz, 51/. Sterling is worth 1900 Rials; fo that 1/. Sterling is the Par of 37 Rials, 8 Marvedies. Dantzick, 3/. Sterling is worth 40 Florins ; fo that 1 /. Sterling is the Par of 13 Florins, 1 o Grofs of Dantzick. Frankfort, 3 /. Sterling is the Par of 20 Flor. fo that 1 /. Sterling is the Par of 6 Florins, 40 Cruitzers. Hamburgh, 3 /. Sterling is worth 40 Marks ; fo that 1 1. Sterling is worth 13 Marks, 5 Shillings 4 Pence Lubs. Leipjick, 9/. Sterling is worth 40 Rixdollars; fo that 1 /. Sterling is the Par with 4 Rix- dollars, 10 Grofs, 8 Deniers. Paris, 3 /. Sterling is worth 40 Livres ; fo that 1 /. Sterling is the Par of 13 Livres, 6 Sols, and 8 Deniers ; fuppofing the Crown in Specie to be valued at 3 Livres, or 60 Sols Tournois. Venice, 3/. Sterling is worth 100 Livres of Venice; fo that il Sterling is the Par of 33 4- Livres. Sect. Ha YES V Negotiator s Magazine Sect. VII. The current Prices of the Exchanges of London. r Holland, Antwerp, and Hamburgh, one Pound Sterling for between 30 and 40 Shillings Flemiih. Fiance, between 30 and 40 Pence Sterling, or 1 Ecu of 60 Sols Tournois, and fometimes 1/. Sterling for between 20 and 30 Livres of France. Portugal, between 50 and 60 Pence for one Milrea, or 1000 Reas. Spain, between 30 and 40 Pence for one Dollar of | New Plate. Venice, between 55 and 65 Pence for one Ducat of 24 Grofs B\ Genoa, the fame for a Pezzo of 5 Livres. Leghorn y the fame for a Dollar of 6 Livres. Ireland, 100 /. for 101 to 112/. in Ire/and. London exchanges with the other Towns of Great Britain by receiving a fmall Matter in the Pound, to repay the like Sum in other Places 5 but if the Sums be large, it is commonly return'd at ib much per Cent. N. B. The Prices of the Exchanges at London, Amfterdam and Hamburgh, have a very great In- fluence upon all the reft of Europe. to ( 1 5 Sect. Of Money ) fFeights \ Meafures, &c. 235 Sect. VIII. The Ufance between London and other Places. TH E Ufance of London upon Paris, Bour- deaux, and all France ; yltn/lerdam, Rotter- dam, Antwerp, Hamburgh, and the Netherlands, is one Month, or 30 Days 2 Ufance is 60 Days. But upon Spain and Portugal, Ufance is two Months, or 60 Days. And upon all Places in Italy it is three Months after Date. And in London, they do ufually allow three Days of Grace. Sect. IX. Examples of the English Exchanges. LONDON remits to Holland 478/. 14* bd. Sterling, the Exchange at 3 5 i". 6±d. perL. Sterl. I would know what muft be paid in Holland for this Remittance. /. s. d. Multiply 478 14 6 Sterling By - 42 64- the Price of Exchange 2S72 07 0 201064 10 0 239 7 3 4*0)2041 7; 6 4 3 Anfw. Guilders 5104 1 6 Grotes or 8 Stivers. To 236 Hayes V Negotiators Magazine To know the Profit or Loft per Cent, upon the Rifrng or Falling of the Exchange. Example. London remits to Holland at 3 5 j. 6d. to the Value of 150/. Sterling : In one Month af- terwards London draws upon Holland at 3 4*. 6d. The Query is, what does London make per Cent, by this Negociation ? s. d. I. s. d. 34 6 - - 100 - - - 35 6 12 12 /. 414 4i4)426oo( 102 1200 372 20 s. 414) 7440(17 'Tis done by Decimals thus : 3300 1,725) 1 77,50000 o( 102,898 Anf. 505005/0 402 *57°7 5 12 114© 414) 4824(11 102,898 amounts to 1Q2 /. I 7 J". I I \d« 270 414 ) io8o( i 252 London gains by the above Negociation about 2/. 171. 11 Id. per Cent \ the Charges included. London Of Money, ?Teights, MeafuresfiCc. 237 London upon Hamburgh. London remits to Hamburgh 742/. 18 J. 6 J. Sterling, Exchange at 3 3 s. 4*/. The Query is, what muft be received in Hamburgh for this Re- mittance. s. d. /. J. d. 33 4 - - - 742 18 6 3 100 100 8) 74292 10 — ■ Anfwer 9286 Marks 9Shil. ~ LuU The Anfwer, the above Remittance will amount to 9286 Marks 9 Shillings i B°. Hamburgh Money. London and France. London remits to France 462/. iSs. 6d. the Exchange at 33 d. per. W. to know what Number of Livres, (Sc. muft be paid for this Remittance in France. d. /. s. d. 3) 33 4^2 18 6 80 1 1 1 — 11)37034 W. 3366 14 64r 3 Muft be received Livres 10100 3 7 for this Re- mittance in France. ■ London 238 Ha yes V Negotiators Magazine London and Spain. London remits to Spain 289/. 145. 6d. Sterling, Exchange at 42 d. per Dollar, to know how many Dollars, &c. mull be paid for this Remittance in Spain. I s. d. 6) 42 - 289 14 6 40 7 )"5»9 Dollars 1655 49 The Anfwer is 1655 Dollars, 4 Rials and 9 Quart. * the above Remittance amounts to in Spain. London and Portugal. London remits to Portugal 387/. 7 J. bd. Sterl. to know what this Remittance will come to in Portugal at 5 j. ^d.per Milrea. /. s. d. 3) 63 - 387 7 6 80 21 ) 30990 ( 1475 Mill. 714 Reas muft be received in Por- 99 tugal for the hid Remittance. * 59 1 20 21) 1 5000 ( 714 Reas. 90 6 London Of Money j Weights, Meafures> &c. 239 London and Italy. London remits to Italy 236/. 14.S. 6d. Sterling, the Exchange 54^. per Crown of 5 Livres, to know how many Livres, Sols, &c. muft be paid in Italy for this Remittance. d. 6)54 /. s. d. 236 14 6 9 40 9 ) 9469 Crowns 1052 2 2 -J or Pezzo's. 5_ Anfwer. Livres 5250 11 1 4- muft be received in Italy for the above Remittance. London and Venice. London remits to Venice 293/. gs. 8d. Sterling, the Exchange at 4*. 4^/. per Ducat Banco, what muft be paid for this Remittance in Venice f s. d. I. 5. d. 44 2 93 9 8 Sterling 3 60 13 13 ) 17609 143 1 remains 6 Muft be received in 24 Venice for the faid Remittance 1431 I3)i44( 11 GroS -Ducats 1 1 Grols Banco. 1 1 London ^4° H a Y E s V ^Segocintors Magazine London and Ireland. London remits to Ireland 273/. lfts.bd. Sterling, Exchange at 10 per Cent. I would know what mult be received in Ireland for this Remittance. /. s. d. 10 ) 273 18 6 Sterling 27 7 104 Anfw. L. 301 6 44 mail be received in Ireland. How much muft be paid in London for a Remittance of (1 1) 301 /. 6 s. \\d. Irijby Exchange at 10 per Cent. 27 7 io-r Anf. L. 273 18 6 Sterl. muft be received in London. London and the West Indies. The Weft Indies draws upon London for 294/. 18 j. 6d. Sterling, to know how much Weft India Money the laid Draught will amount to, when Currency is at 47 per Cent. Difcount. /. ' /. Say, If 100 Sterl. — 147 Currency — 294 The Anfwer to the faid Draught amounts to 433/ ios.9^{d.Weft India Money. 2 064 41 289 s. d. iS 6 '47 9 6 10 o «3 53 19 6 20 10 79 12 9 54 4 2 16 Proof Of Money, Weights^ Men fares, &c. 24 1 Proof. To know how much Sterl. the 433 /. 10 J. Q-.V.( Weft India Money will amount to, the Weft India Money being at 47 per Cent, Difcount. W. India S ter 1 i n g If J 47 /. 100 /. W.India 433 10 94- 100 L 147)43353 l9 6(294 1395 723 20 The Anlwer amounts to 294/. 1 8 j. 6d. Sterl. which proves the fore- going Operation to be true. H7)27I9(l8 1249 73 12 147)882(6 Sect. X. Simple Aj'bit ration of Orders and Coui- mi/Jions green and received by Draughts and Re- mittances in London . EXAMPLE. An Order comes to tendon to remit to Venice at 52 d. and to draw up- on Spain for the Value at 42 d. ter Dollar j when R the -4~ Ha YEs\r Negotiator s Magazine the Order came to Hand, Bills for Venice were at 54 d. I would know at what Price I muft draw upon Spain, to compeniate the laid Lofs by the Remittance to Venice, d. 54 42 Anf. 52 ) 2268 ( 43-^3-^. per Dollar, nor lefs can the Draught be made for Spain, 188 to compenfate the aforefaid Lois. 32 Sect. XI. Compound Arbitration, TH E Eajl India Company of England having Orders to make a Remittance (to their Cor- refpondent at Cadiz) of a certain Sum of Money ; at the Time of this Order, London can remit to Cadiz at 40 d. per Dollar, and Amjlerdam to Cadiz at 10 5 d. per Ducat: The Query is, Whether it will be moft advantageous for the Company to re- mit from London to Cadiz, or from Amjlerdam to Cadiz ; and how much per Cent, the Difference does amount to, the Exchange between Amjlerdam and London at the fame Time being at 34 s. 10 d. See the Operation as follows, viz. If 1 Ducat - . be - 375 Marvedies, V 272 Marvedies - - - 40 Pence Sterl. 20 Shillings Stcrl. - - 34 s. \od. Amft. How much is - • • - 1 Ducat ? Multiply Of Money y Freights, Meafures, &c* 2,43 s. d. 272 34 10 Multiply 20 40 multiply 544|o 1393 04 375 multiplied 522375] added 44- ^ - I25j Anf. j 44 ) 52250)0 ( 96 d. per Ducat 3290 26 100 multiplied tf . 1 01 — But Of Money, freights y Meafures, &c 247 But according to the above Rates, In Silver. , Sterling. Gild. Sriv. /. s. d An Englijh Crown Piece was 7 valued at ----- 3 n 0~ ^ j OD 01 J% T~k ' 111 A RixdoUar at 2 08 — 04 06 A Ducattoon at - - - •o O — oyi 20 — 01 An EngUfh Shilling at - - "3 01 A French Frank, or Livre, at 19 — 01 oSl A Fkmijh Shilling at °7i 08-^ A Zealand Shilling at - - 07 07A A FlemiJJo Stooter at - - - oil 02^ A Fkmijh twelve Stiver Piece at 10 Hi In their fmall Brafs or Copper Pieces of Money, thev reckon 4 Duyts, or Penningins, to a Blank, 2 Blanks to a Grote, and 2 Grotes, Deniers, or Pence, to a Patar, or Stiver. They had alfo among them the Bohemia GrolTes, called Blaphaces, of 3 Cruitzers, each Cruitzer 2 Pence, or Poy, the Poy at 2 Helliers, and 1 Hel- lier at two Urchins : and the Fkmijh Stiver, which did go current among them for about 4 French Farthings. Sect. III. Of the Weights and Meajures. AS for the Weights and Meafures of the feve- ral Cities in the Netherlands, they have been found to accord with the Etiglijh Weights and Mea- fures as follows : R 4 100 tb 2 4 8 Ha yesV Negotiator s Magazine iootb Avoirdup. Wt. of London has made, viz. tb In Bruges - In Ghent In Audenard In In Dixmude In Lj/fc - In Abbeville In Jffi&r - 9fi 99 106 104 104 106 90 87 In Lovain and Bruxels 9 1 £ In Ma lines - - 91 -J- In - - - 104 In Holland. Guelder- 7 ^ Q I — - /W, and Zealand ) J 1 In 6"/. Omers, and ? g Cow tray - - \ In Bergopzam - - 96 133 134 126 *35 100 Yards of London has made, ivz. Auns In Holland in Gene- 7 ral - - - J In Antwerp In Bruges - - - In Dunkirk, and | Middleburgh \ In 2Jr« - - - In Z>/g? - In Maefiricht, and 7 Guelderland - \ In Li/7:?, Cambray, 7 and Dczvay - \ In Ruremond - - In yfrto in Gene- 7 ral - - - j In Toumay 139 *32 *3* 144- About 10^ Quarters Corn Meafure of London makes In Bruxels 10 '- Muids, and different in moft Places in Brabant. In Ghent 4 Muids 7 Halftcrs, reckoning 12 Haiders to a iMuid. Tn Bruges j± Hocdt. In Dunkirk "18 Raifers In Aiiddleburgh 40 Sacks. In Ztorf 28 Sacks. In Rotterdam and De/f, or Dclph, S7 Acklings, or 29 Sacks. In Schcon Haven 88 Acklings. In Grceningen 33 Muids. See more of the Particulars of the Weights and Mea~ fives in the Section of Amfterdam, Sect. Of Money, freights, Meafures, &c. 249 Sect. IV. Of the Exchanges of the Netherlands. THE principal Places of Exchange in the Netherlands, for foreign Countries, are An- twerp, Amfterdam, and Rotterdam, And the principal Places of Exchange in the 1 7 Provinces among themfelves, are as follow : ,Flanders, are Ghent, Bruges, Doway, Dim- kirk, Oftend, Sluys, Nicaport, Graveling, Life, Tpres, Tournay, Courtray, Dixmude and Oudenard. Artois, are Arras, St. Omers, Aire and Hefdin. Hainault, are Mons, Valenciennes, Marin- burg and Phillipevi/le. c B 0 T-3 V Namur, are Namur, Bovines, Charier oy and Charlemont. ZutpheNj is Zutphen. Holland, are Amferdam, Rotterdam, Ley- den, Hague, Delft, Dort, Haerlem, Brill, Edam and Horn. \Zealand, is Middleburgh. Brabant, are Bruffels, Lovain, Breda, Boif- leduc, Bergopzam, Gimbhurs, Niville, Til- £ lemon. 5 Limbourg, are Maeflricht, Limburg and jg / Mafewick. q \ Luxenburg, are Luxenbourg, Rochefort, u Thionville and Mantmede. Gueldreland, are Gue/dre, Arnheim, Har- derwick, Ruremond and Venlo. ^Cambray3 are Cambray and Beauchin. In a 50 Ha yesj Negotiators Magazine In the Barony of Fr isi a, is Lewarden or Loowarden, In the Barony of Utrech, is Utrech. In the Barony of Over isle , are Cow ar den and OldenzeL In the B;irony of Malines, are Ma lines and Mechlin, In the Barony of Groningen, is Groningen. In the Bifhoprick of Liege, are .LzVg"?, Maejlricht and Dinaitt. In the Marquifate of the Holy Empire, is Antwerp. In all the Places abovementioned they ex- change among themielves at fo much per Cent. more or lefs, according as the Demands and Ne- ceffities are 5 and fometimes they make their Ex- changes among themfelves, by affigning of Bills from one to another : This laft Method is only pra&ifed in fuch Provinces where the Species of Money agrees in Value. And it is obfervable in the faid Provinces, that they make a very confiderable Difference in their Money ; that is . to fay, the Money that is paid for Bills of Exchange, which they call Permiffion Money, or Exchange Money, and their Current Money. 100/. of Exchange Money, is 108 4 Cur- rent Money \ the Agio being commonly 8 -J per Cent. And when any of thefe Places do draw or remit with Foreign Places, the Money to be ne- gociated is ufually reduced to the Money of Ex- change, before they make out a Bill of Exchange ; and it is moftly done by the Way of Antwerp y Amfterdam or Rotterdam. N. B. Whither the 8 4 per Cent, be an efta- bliflied Agio, as fome foreign Authors have afcer- tained Of Money , tFeigbfs, Meaftires^ &c. 251 tained it to be, I fhall leave for better Judges to determine. However, when they do remit to, or draw up- on England^ or any other foreign Place, by the Way of Amfterdam, the Difference is commonly more than what is mentioned above by 1 or 1 i. per Cent, that is to fay, although the Monies of Ex- change, or Permiffion Money, in the Places above mentioned, is ufually reckoned to be of the fame Value of the Bank Money of Amjierdam, yet they have another Advance, which does ufually arife to fo much per Cent, as the Difference of the Ex- changes is between Antwerp and London, and Am- jierdam and London , but this laft Advance derives moftly from the Scarcity, or Want of Bills for E?igla?idy or upon fuch like Occafions. In Liege and Maeftricht the Florins are rec- koned to be of equal Value or Par with 1 2 4 Sti- vers Bank of Amjierdam , that is to fay, 4 Florins of Liege and Maeftricht are Par with a Rix-dollar of 50 Stivers of Amjierdam , and thefe Places do ufually exchange with Amjierdam at a Par. Sect. V. Example of Flanders Exchanges. T7LANDERS draws upon Holland for 473/. J? iSs. 6d. Exchange Money (or Permiffion Money) at 1 jl per Cent. Advance, or in Favour of Amjierdamy to know what this Draught will amount to in Amjierdam, Say, 15* H a yesV Negotiators Magmine Perm. Money I. s. d. I. Say, If 1014. 473 6 100 2 200 2 203 ) 94785 ( 466/. 200 U05 ■ /. s. d. 187 466 18 5 Dtofe& 20 Money in Am- Jlerdam. *03 ) 3740 ( 18/. 1710 86 12 03 )io32 ( 5^. 17 /.j. SECTION II. sAmftcrdam. 4/. Flemifh of Antwerp is worth 25 Florins of Amjlerdam ; lb that 1 /. is the Par of 6 Florins, 3 | Stivers of ./iw- jlerdam. Cadiz. The Pound Flemifh is the Par of 20 Rials, 2 9 4- y Marvedies. Dantzick. 2 /. Flemilh is the Par of i 5 Flo- rins of Da?itzick ; and 1 /. Flemifli is the Par of 7 Florins, 15 GrofTes of Dant- zick. Frankfort. 4/. Flemifh is worth 15 Florins; and 1/. Flemifh is the Par of 3 Florins, 45 Cruitzers. Hamburgh. 2 1. Flemifh is worth 15 Marks Lubs j and 1 /. Flemifh is the Par of 7 Marks, 8 Shillings Lubs. Leipjick. 2I. Flemilh is worth 5 Rix-dollars ; fo that 1 /. Flemifh is the Par of 2 i Rix- dollars of Leipfick. London. 16/. Flemilh is the Par of 9/. Sterl. fo that 1 /. Flemifli is the Par of 1 1 Shil- lings 3 Pence Sterling. Paris. 2 1. Flemifli is worth 15 Livres 5 fo that 1 /. Flemifli is Par with 7 Livres 1 o Sols, when the Crown in Specie is worth 3 Livres, or 60 Toumois. Venice. 4/. Flemifli is worth 75 Livres; lb that 1/. Flemilh is the Par of 18 Livres v 5 Sols Banco. SECTION Of Money, tfVtgUs, Mc a fares, etc. 157 SECTION m r Holland, from roc to 10S Current Money for 100 B in Amjlerdam. France, between 68 and 80 Grotes for the Ecu of 3 Livres. Spain, between 80 and 100 Grotes for one Ducat. Portugal^ between 40 and 60 Grotes for one Croiiade, or Crown. Hamburgh, between 60 and 70 Grotes for the Dollar of 2 Marks Lubs. Venice, between 90 and 100 Grotes for the Ducat of 24 Grofs B\ Genoa, between 90 and 100 Grotes for one Crown of 5 Livres, Leghorn, between 90 and 100 Grotes for one Crown of 6 Livres. Frankfort, between 80 and 90 Grotes for one Florin of 65 Cruitzers. Noremberg, between 70 and 80 Grotes for one ^ Florin of 65 Cruitzers Current. Sect. IV. Examples of the Exchange* between London aiid Antwerp. AAT TJFE R P draws upon London for 1846 U 15 s. Flemiih, at 34 s. 6 &c. 259 CHAP. IX. Of Amsterdam. AMSTERDAM and Rotterdam are the greateft Places of Trade and Exchange of all Holland ; and the Merchants and People in general, keep their Books and Accounts in GA- ders, Stivers, and Penningens, reckoning 16 Pen- ningens to a Stiver, and 20 Stivers to a Gilder, which are fometimes called Florins ; and they alfo reckon 8 Penningens to a Grote, 2 Grotes to a Stiver, 12 Grotes, -or 6 Stivers, to a Schilling, and 20 Schillings to one Pound Flemifh, which is juft the Value of 6 Florins. Sect. I. The Current Monies of Holland, and Value in Sterling. THERE are fo great Variety of Monies current in Holland, that I know not how to diftinguifh among thofe following, which are really Dutch, and which are not ; that is to fay, which are of the Stamp and Coin of Holland, and which are foreign Coins, and go only Current there at certain Rates : However, the common and moil univerfal Species of Money now current in Holland are thefe undermentioned, which according to the S a following %6o H A Y E s\r Negoc/( itors Magazine following Rates, and Par between England and HoU land, are worth as follows, viz. In Gold. Sterlinc Flor. Stiv. /. d. The Gold Ducat or Ducattoon 20 — I 16 — ■ A Quarter Ditto - - - - 5 ~~ ~" O9 — A Dun ftnnn nnnflipr ^r>rt A J_yUL.ttllU*JlI, tlllULllCl OUl I, I called a Sovereign - - j — O7 — An Englijh Guinea - - - 1 1 T 1 O T - ARofeNoble - - - - 1 1 94-4 A Ducat 5 °5 09 The following are in Si l v E R and Coppe r. A Ducattoon is - - - - 0 02 j °D 8- ■ * A Dry Gilder - - - - 7 D °5 > 3 » ~ 4 5 A Rix-dollar - - - - 2 10 04, 6 A Lion Dollar, or Crown - 2 7--* A Common Dollar - - I 10 02 A Gold Florin or Gilder I 08 02 6 A Zealand Dollar - - - I 10 02 An Embdcn Dollar I 03 02 A Gilder, or Florin - - OI A Schilling - - - - 06 An Englifa Crown Piece - - 2 1 Si 05 A Stiver is worth 2 Penny Grofs, or Grotes, or jDcniers, or 16 Penningenss the Grotes and Plen- nfagCns are imaginary. A Quarter Sliver is valued at 4 Pcnningcns. Their imaginary Money are Pounds, Grotes, and Penningefts; and of a Mixture of thele, two Sorts of Money, Real and Imaginary, or compoled. A third Sort bein* the Monies of Exchange. And Of Of Money ) Freights, Me a feres, &c. 261 Of the Real, are a Rixdollar of 50 Stivers, the Florin of 20 Stivers, and the Schilling of 6 Sti- vers. And of the Imaginary, are the Pounds Flemifh of 6 Florins, or 20 Schillings, and the Deniers of 8 Penningens, or 1 i Stiver. As for the foreign Monies, the ordinary Price of a French Louis d'Or, and Spanijh Piftoles, is be- tween 9 and 12 Florins; of an Englijh Guinea, between 1 1 Gilders, 5 and 6 Stivers ; an Englijh Crown Piece, between 58 Stivers and 594. Stivers j an Half Ditto, at 29 Stivers and 294- Stivers; a Shilling, between 10 and 11 Stivers; and a Six- pence, between 5 and 5 -I Stivers. Thefe laft Prices are according to the Courfe of Trade and Exchange, and as they rind an Opportunity to profit by them. Sect. II. Of the Weights of Holland. TWENTY four Grains is one Dram ; 3 Drams, or 72 Grains, is a Grofs ; 30 Grains is one Engel ; 1 o Engels, or 4 Grofs and 2 Grains, is one Loot ; 1 6 Loots, or 8 Ounces, is one Mark ; 2 Marks is one Pound ; 8 Pounds is one Stone ; 165 tb is one Waggon, or Wage; 400 lb is one Load ; 15 lb is one Lilpond ; and 20 Lifponds is one Schippond. Sect, ~6i H a Y E s ' s Kegociators Magazine Sect. III. Holland Weights compared with Fo- reign Weights, and the contrary. ico tb of Amfierdam makes in foreign Places, viz. tb In Antwerp - - 1057 In AUcant - - 108 hi Archangel - 125 In Avignon - 125 In Audenard - 112 In Augfbuvg - 103 In Ancona - - 149 In Bremen - 103 1 n Bergnen and Norway 954 I n i&?7/ - - in I n Breflaiv in SV/^&z 1 2 5 [nBourdeaux - 100 in Bergam - - 169 In Zfar££ in ifr?/} 104 In Bruges - - 106 In Copenhagen - 1017 In Coning Jburg - 125 In Cologn r - 104 in Cadiz - - 106 In ConftantinopleY>.ot. 88 In Dantzick - 1 1 2 \ In Dixmude - - 114 In Frankfort - 98 In Florence - - 152 In Geneva - - 89 r Great Weight 904. £ \ Small Weight 66* fJ «v Common Wt. 100 ^ /Great Balance 144 ^ C Small Balance 1 50 100 tb in the following Places makes in Amftcr- dam, viz. tb Ur Antwerp 94v Ot Ahcant Ur sir change t - oO Ur Avignon 0 ~ OO Ur A> ictena fa 89 Ur Aig jburg 96 ur Ancona 67 Ot Bremen - 96 Ot Bergnen , &c. IO5 90 Ur Brefiam 8O Or Bourdeaux I0O Ur Bergam - - 59 Ot Itogif, &c. 96 Ot 2?rKgw 94 Of Copenhagen Oi Coningjlfurg 80 Ot Cologn 96 Of - - 94i 100 Rott ^Conjlant. 114 Of Dantzick - - 89 Of Dixmude - - 88 Of Frankfort 102 Of Florence - - 65 Of Geneva - 1 12 „ ( Great Weight Small Weight Common Wt. Great Balance Small Balance 1 05-! 120 100 69i 66i In Of Money y IFeightSy Meafuresy &c. 263 4k ID in Ghent 112 In G elders - IO5 In Hamburgh 102 In ZiftM - Il6 In London Troy Wt. 97 In Ditto Avoird. Wt. ioof In Leipjick in Ljzgtjcrn - 145 In JLeige io5t in JLMDCCK 105 m L-iijie - - 114 m ivitian I DO T /l // ^T-/« //>.• ///* m LYluTjClUo in ivianiua - I75 In MeJJma 104 In Montpellier 120 In Af^i - 105 In Middleburgh - 105 In iVtffl/j - 99 In Naples 169 In Norway - 95 In Nor em burg - 98 In Prfr/j - 9»t In Peter/burg - I25 In Portugal - - H4i In Vicompt Wt. 96 In I2lf In Raconis ~ I51 In M^/ 99 In Stockholm - - 117 In 1017 In 106 In 67 161 lb Of Ghent - 89 Of GeUers - - 95 Of Hamburgh - 98 Of Lions - - 86 Of London Troy Wt. 103 Of Ditto Avoird. Wt. 9 if Of Leipfick Of Leghorn Of Leige OfLubeck - Of Mian - Of MarfeiUe Of Mantua Of Mejfina - Of Montpellier OfMons - Of Middleburgh Of Nants Of Naples - Of Norway Of Noremburg Of Paris - Of Peterjburg Of Portugal - Of Roan , &« Of££« - Of Raconis Of Rocbel - Of Stockholm - Qf&tfjw - - Of Seville - - Of&V/# - Of SaragoJJa - Of Strajburg - Of Touloufe Of Tortofa ~ S A 95 69 95 95 88 60 81 57 65 83 95 95 ior 59 105 102 ioit 80 87i 104 82T 66 101 85f 98! 95 162 100 85 62 la 264 Ha yes's Negotiators Magazine ft i5i 166 158 114 In Ttirdi In Tournay - In fttt*Smafl Wt. In Valencia - - In 7/>w Of Turin Of Tour nay Of Venice, Sec. Of Valencia Of 2>r« 66 89 60 63 88 Sect. IV. //v/V Weights for Gold and Silver. THIRTY two Aces is an Engel ; 20 En- gels is one Ounce 5 and 8 Ounces is a Mark. The above Weights are ufed among them in weighing Grofs Gold ; but in weighing, or fining of Gold, 24 Parts are reckoned to a Grain, 12 Grains to a Carat, and 24 Carats to a Murk ; and the Mark Weights are about 1 per Cent, lighter than the Troy Weight of London. Sect. V%Of their Men fur e for Linen and Woollen Goods. "I T is an Aun, or Ell, and is deemed here \ of a Yi rd 5 but it confifts of 2 Feet, 1 Inch, and 2 Lines of the Pie du Roy of France, and is divid- ed into the following Fractions, i t t tVj or nltn JL _L » 3 6 TJ' Thi is by Obferyation, found in Meafure by the Foot Rule to be fomcthing more than 27-:- Inche> Of Money, Weights, Meajures, &c. z6 Inches in Length ; fo that one Engtijh Ell about i* Dutch Aun ; and it is faid that is 100 Auns of Amfterdam makes in Foreign Places, viz. Anns In Antwerp , Bra-1 83 bant, &c. I In P^r/j - r - 58-i In London - Ells 584- In Hamburgh and ( Lubeck - - S In Frankfort - - 120 In Noremberg - 1 00 In Leitfick Naumberg 120 In Breflaw in 125 In Ofnaburg - - 57^- In Dantzick . - 112- In Bergen and Dr#?- 1 in Norway £ T In Sweden or 5/^^- } ^ - - J "7 In Denmark and C .'\ \ \\ contain, or hold out at slw- fierdams Of Money, JFeights, Meafures, &c. 267 jlerdam, 60 to 90 Virgcs , therefore it is ufual with the Hollanders to reduce thofe Meafures into Butts, by the following Reckoning. ^27 Virges of Coniac, Monguiony Roche/le, and the Ifle of Rhe\ £ 29 ditto of Nantz, and other Places in Brit- tany and Anjou. /0 of Amfterdam y and other Places in fe ~ Holland. 30 of Hamburgh and Lubeck, 27 of Embden. At Bruges they call the Virges Seftiers, reckon- ing 1 6 Stoops to a Seftier ; and they fell it at fo much a Stoop. Sect. VIII. Of Salt. SALT is fold in Amfterdam by a great Hun- dred of 404 Scheppels, which is reckoned 7 Lafts, or 14 Tun, or 28000 1b Weight, which is alfo counted 208 Sacks, and is fold by the Pound Flemifh ; and 11 ~\ Lafts of Amfterdam makes about the great Hundred in the Ifle of Rhe in France. Sect. IX. Of their Meafures for Grain. THREE Scheppels is one Sack, 4 Scheppels is one Muid3 36 Sacks or 27 Muids is one Laft, 3, 6 8 Hayes fs Keg-ocintors Mtio-az/ve O O Laft', weighing 4000 ft, Weight, and makes in London about 10 ' Quarterns. The Land Laft is not the fame in all Places ; there being fome Difference introduced by Cuftom, or other ways, in the feveral Countries in Europe. A Laft of Wheat, in Amfterdam, commonly weighs between - - 4200 and 4800 lb Ditto of Rye, between 4000 and 4200 lb Ditto of Barley, between 3200 and 34001b There is a Duty upon Wheat fold for the Ufe of the Inhabitants of Amfterdam, of 1 3 1 Florins 12 Stivers p*r Laft, befides Brokerage and iMeetage, &e. which the Citizens and Bakers do likewife pay. The above and fuch fort of Goods are commonly bought and fold in Amfterdam by the Gold Florin of 28 Stivers. The Laft of Amfterdam makes in Paris 19 Sextiers, in Bourdeaux 38 Bufhels, and 3 Lafts of Amfterdam makes 4 Lafts of Rouen ; the Lafts of North Hoi/and are the fame as that of Amfterdam. In Hoorn, Enchyfen, Muyden, Naerden, and We 'fop , a Laft is 22 Muids, or 44 Sacks of 2 Schep- pels each. InHaerlem, they reckon 33 Sacks to the Laft, their Sack contains 3 Scheppels, 4 of which make the Hoedt of Rotterdam, and 14 of thole Sacks makes one Hoedt of Delft. In Alehmaer, in North Holland, a Laft contains 26 Sacks. In Lcxden, they reckon S Scheppels to a Sack, and 44 Sacks to a Laft. In Rotterdam, Delft, and Sehedun, they reckon 29 Sacks to a Laft, 3 Scheppels to a Sack, and ;o i Sacks to a Hoedt; the Lift of theie Places are Of Money, Heights, Men fares, &c. 169 are 2 per Cent, more than the Loft of Am- fterdam. In TtrgpWj they reckon 2S Sacks to a Larr, 3 Scheppels to a Sack, and 32 Scheppels to the Hoedt In Utrich, they reckon 25 Muids or Sacks to the Lait, and 10 4- Sacks to a Hoedt of Rotterdam. In Montjbcrt, Yfelftain, and Vianen, / : \v:d\ and at GromKgen, in Ea;i F'~: it. ■:■>:.;, they reckon 35 Muids to the Lait. In Gelderland and the County of C/^vfj, 172. in Nimeguen, Aimheim^ and Die four g!:y they reckon 4 Scheppels to a Mouver, and 22 Mouvers to a Laft ; and S Mouvers make one Hoedt of Rot- terdam. In TVnl, they reckon 33 Scheppels to a Lait In Ruremond, they reckon 6S Scheppels to a Lair. In Haer derrick, they reckon 1 1 Muid equal to ic Muids of Amfterdam. In O-jer-Vje! in Champen, they reckon 25 Muids to a Lait, and 9 Muids to one Hoedt of tcrdam. In Zviv//, they reckon 9 of their Muids to one Hoedt of Rotterdam. In D^'JzKter. they reckon a. Scheppels to the Muid, and ?6 Muids to a Lait. The Lails of Zetland. In Middleburg, they rec- kon 4f Sacks to a Lait; the Sack being little more than 2 Scheppels. In Tiujlmg^ Zeerickfee, Brill, and ibme other Places in the Neighbourhood, they reckon 2\ Sebeppds to a Sack. In zjo HaYES/ Kegociators Magazine In Leige, they reckon 1 2 Sextier to a Muid, and 8 Muids to a Laft. In Tongres, they reckon 1 5 Muid to a Laft of Corn, and 14 Muids to a Laft of Oats. The Lafts of Brabant. At Antwerp, the-y rec- kon 38 Virtules to a Laft ; and that 37 4. of their Virtules make a Laft in Amfterdam ; and 4 Mil- kens to a Virtule, and 32 Virtules to a Sack of Oats. In Brufjeh^ they reckon 25 Sacks equal to one Laft of Amfterdam. InMalines, they reckon 28 Virtules equal to a Laft in Amfterdam. In Lovain, they reckon 37 Muids to a Laft, and 8 Halfters to a Muid. In Breda and SteeubcrgC, they reckon 33-^ Vir- tules to a Laft of Corn, 29 Virtules to a Laft of Oats, and 13 of thofe Virtules makes 18 Sacks, or one Hoedt of Amfterdam. In Bergopzoom, they reckon 34 Virtules to a Laft of Corn, and 28 -J Virtules to a Laft of Oats. In Bois le Due, they reckon 20 f Mouvres to a Laft, and 8 Mouvres makes one Hoedt of Rot- terda)n. The Lafts of Tlanders. In Ghent they reckon 2 Halfters to one Sack, 6 Sack? one Muid, and 29 Sacks or 58 Halfters to a Lair of Corn, and 1 9 Sacks or 38 Halfters to a Laft of Oats. In Bruges, they reckon xy ;- Hoedt to a Laft of Corn, and 14 \ Hoedt to a Laft of Oats ; the lat- ter being equal to the Laft of Am Her dam. In St. Omers, they reckon 2 Schcppcls to a Razior, and 22 , Raziors to a Laft, In Of Money j fVetght sy Meajures, &c. 2 7 1 In Dixmude, they reckon 3 of Raziors to a Laft of Wheat, and 24 Raziors to a Laft of Oats. In LiJIe, they reckon 41 Raziors a Laft of Wheat, and 30 Raziors a Laft of Oats. In Gravelin, they reckon 22 f Raziors to a Laft of Corn, and 18 4 Raziors to a Laft of Oats. In Dunkirk, they reckon 18 Raziors to be equal to one Hoedt of Rotterdam. Sect. X. Of Oils and Honey. THE Oyl of Olives they do ufually keep in Butts or Pipes, containing from 20 to 29 Steckens, 1 6 Mingles to a Stecken and there goes 717 Mingles, or 1434 Pints, to a Tun of Oyl in Amjierdam, which is there fold at fo many Pound Flemifh per Tun. Coarfe Fifti Oyl they do commonly keep in Bar- rels, containing between 15 to 20 Steckens ; and it is ufually fold in Amfierdam at fo many Florins per Barrel. Honey is kept in many Sorts of Veffels, both of Wood and Earth ; it is fold in fome Places by Meaf ire, and in other Places by Weight. In jtm/ierdam^ they fell it at fo mmy Pounds Flemifh per T confiftirig of 6 Tierces, or Aums, or by fc \y Florins per Barrel, or by the Hundred We-.. Aiid the Duty of Weighing is 43 Sti- vers per 1 coo Weight; and this, as well as the Broke is paid half by the Buyer, and half by trie Seller, Sect. 2 7 £ Hay e s j Negotiator s Magazine Sect. XI. Of the Bank of Amfterdam. THIS Bank is fettled upon fo fure a Founda- tion, as nothing can affecl its Credit fo long as it is upheld by the laid City, who has been Security for the fame from its hrft Settlement, which was in the Year 1609. And they do ac- cordingly take the whole Admin iftration and Ma- nagement upon themfelves, placing and replacing Officers at their Pleafure, they (landing engaged to make good all Deficiencies or Diminutions that may happen by Connivance, or any other clan- deftine Means among the Officers, Directors, or Managers, whofe Salaries the City does alfo pay. It is generally believed to be the molt wealthy- Bank of any in Europe 5 it being calculated for the Good of the whole Common- wealth.- But it muft be owned, that Negotiations can- not be carried on with that Diipatch, nor at fo little Expencc in this Place, as in fome Banks elfe- where, where they are under no fuch Regulations as this : As for Inftance, in the Bank of England. A Man may have a Calh Account open'd ; lie3 may pay, and receive Money, and negotiate all his AflS irs relating to Monies or Bill- of Exchange, and may fee that his Accounts are rightly ad 'lifted and fettled, at any time between the Hour of Nine in the Morning and Four or Five in the Afternoon, without any Colls, or Lofs of Time : But in the Bank of Amfterdam it b not 6); hut the Party who does Bufmcfs there, mull he at the following Expenccs. 1. When Of Money, Weights, Meafures, &c. 275 1 . When a Perfon has an Account opened for him, he muft pay 10 Gilders. 2. For every Sum that is transfer'd to another Peribn's Account, muft be paid 1 Stiver. 3 . When you Day Money into their Bank, you are at no Charge ; but when you take it out again, they ftop for their Trouble in keeping your Mo- ney for you, 4c per Cent. 4. If a Man has a Parcel of Money transferr'd to him, and let his Affair be ever fo preffing, he cannot until the following Day transfer the faid Sum, nor any Part of it, without incurring the Penalty, upon all the Sums that he fliall fo trans- fer, of paying 3 per Cent. 5. If a Man wants to look into his Account, unlefs he goes before Eight in the Morning, he will be fin'd 3 or if he lets it alone till between Eight and Nine, he muft pay 2 Stivers. And if he delays or defers it to any Hour later, the Fine is 6 Stivers. 6. If a Man chances to make a Miftake • that is to fay, fhould tranfer a larger Sum to another Man's Account than he really has in the Bank, he muft pay for every Sum that he mall fo write off 3 Florins per Cent. 7. If you do not give your Attendance, or do not fend a Perfon with a proper Power to examine your Account againft the Times of the Bank's fhutting their Books, which they ufually do at the latter End of January, and at the latter End of Jitly> or within Six Weeks afterwards, you muft pay the Penalty of 25 Florins. And all Sums that arife from Fines, Transfers, and other Monies coming from Things of tha& T Nature, 1 74 Ha ye s7s Negotiators Magazine Nature, they fay, are applied to none other but to charitable Ufes. Sect. XII. Of Bills, and how paid. YO U are to take notice that all Bills of Ex- change from Engla?id, Spain, Portugal, France, Italy, Sec. are always payable in Amjler- dam in Bank Money. But fuch Bills as are drawn upon Amjlerdam from the chief Cities in Holland, Wejlphalia, Swe- den, Denmark, and the other Places up the Baltick, or fuch as are drawn in Amfterdam upon the laid Places, are always made in Cain or Current Mo- nies. And all Bills upon this Place muft be paid with- in Six Days after they are due at the lateft, except- ing fuch are payable in the Bank, and fhall become due whilft the Bank Books are ihut : In this Cafe, there is three Days allowed for writing the fame off after the Books are opened again, and no longer ; and if they are not wrote orF, or paid, in that Time, they muft be forthwith protefted. When a Bill becomes due, the Owner (or Pof- felTor) muft carry it to the Acceptor, he firft writ- ing an Order upon the Back of the Bill, in the fol- lowing Form : Write the Contents of the other Side in ms Account in the Bank. J. Bourne, Amfterdam, Offober ?o< &c, J This Of Move) // 'eights , Meafures^ &x. 175 This Bill he may leave with the faid Debtor, for him to write off the Value on the next Dav in the Bank. Or if he has no mind to leave it with him, he may tell him that he will leave it at the Bank ; and accordingly, he muft carry it, and deliver it to one of the Book-keepers, but muft pay him at the fame Time for his Trouble and Transfer, his ufual Fee; and bid him not part with the Bill, till the Value is wrote off in their Books to his Account ; and if it is not wrote off in due Time, he muft demand the lame again of the Debtor, or caufe the fame to be protected for Non-payment. If the Poffeffor or Owner of a Bill has no Ac- count in the Bank Books, nor is not defirous to have any, he may propofe to the Debtor to pay the Bill in Current Money, making an Agree- ment with him for the Price of the Agio (which is the Difference between their Bank and Current Money) and he having given you a Receipt upon the Back of the Bill, mentioning how much Cur- rent Money he has received, and the Price per Cent, the Agio was done at, he muft endorfe the the Bill as underneath : Write for me the Contents cn the other Side to A. B. in Banky value of him received Amfterdam 27 February, j. r. But if he can't agree with the Debtor about the Agio, he may negociate it writh a Banker, or any one elfe. And the aforefaid Endorfements T z inay l"/6 HayES'j Negotiators Magazine may he wrote in Englifi, French, or any other Language beft underftood by the Negociators; but Orders in Bank muft always be wrote in the native Dutch Language. And at any Time if a Perfon wants Current Money to be changed for Bank Money, or Bank for Current, he need only go to the Burfe, or Town-houfe, before which People are ufually walking, who do make it their Bulinefs to do thefe Things; and if he can't do this Bufinefs himfelf, without the Affiftance of a Broker, the Charge of Brokerage will be but i per iooo, the one half to be paid by the Buyer, and the other half by the Seller. Brokerage being ufually thus paid in Am- (lerdam, unlets an exprefs Agreement is made to the contrary. And according to a Regulation in Amfterdam, they are allowed to take for nego- tiating Bills of Exchange 3 Stivers for every 100 Florins, and for exchanging Bank for Current Mo- ney, or Current Money for Bank, 1 per 1000. St ct. XIII. Of Ufance in Amfterdam. USANCE is not reckoned here, as in many other Places, either prcciicly 30 Davs, or 31, or 28, or 29 Days ; but their Ufance is drawn on a certain Day, and is payable the fame D.iv in the paying Month, without regard to the Number of the intervening Days. But they do generally allow 6 Days of Grace. The Ufance of Amfterdarn upon Venice, Genoa, Leghorn y and all Italy, Cadiz, Madrid, Bilboa, and Of Money, JFetghts, Meaftires^ Sec. 277 and all Spain, Li/fan, Oporto, and all Portugal, is 2 Months. But upon Paris, Bourdeaux, and all France, Lcndon, Antwerp, or any Place in Flanders, or Bra- bant, Mlddlebnrgh, Fly. ill ng, Ritterdar., cr any Place of Holland, or Zealand, Ulance is 1 Month, double Ulance is 2 Months, half Ulance is 15 Days. And upon Frankfort, Ko^emburg, Vienna, and the other Places in German-:, Ulance is 1 5 Days, double Ulance 50 Days, 14. Ulance 23 Days, and half Ulance 3 Days. They exchange with Hamburg's and Brejlaw fo many Weeks after Date ; but when they exchange at Ulance, it is commonly counted 14 Days Sight. Sect. XIV. Of the Courfes of the Exchanges of Amsterdam and Rotterdam. AMSTERDAM exchanges with Antwerp, Flanders, Brabant, and Zealand, at lb much per Cent, by Gilders, but mortly by Pounds, Shil- lings, and Pence. With Leige and Maeftrickt they give 1 00 Rix- dollars for 400 Florins ; and it mult be minded, that thefe Florins are valued at no more than 124 Stivers, whereas thole of Amjlerdam are valued at 20 Stivers. N. B. In Flanders they have the fame Diffe- rence in their Money as in Holland ; their Per- miiTion Money (as they call it) is of the fame Value as the Bank Money at Amfterdam \ and they f 3 do 278 Ha YEsV Negotiators Magazine do often make a Reciprocal Exchange of ico for 100 ; and they feldom differ above i, 2, or ^per Cent, and this mud be upon extraordinary Occa- fions. Amjlerdam, Rotterdam, and the reft of Holland > gives to London from 30 to 37 Schillings for one Pound Sterling. They give to Spain between 30 and 50 Stivers for the Ducat of 375 Marvedies. To Portugal, from 35 to 40 Stivers for the Crufade, or Crown of 400 Reas. To Norettwurgi between 30 and 40 Stivers for the Florin of 6^ Crufades, or 100 Rixdollars for ico to 135 Rixdollars of 90 Cruitzers of the Em- pire. To France, from 30 to 45 Stivers for one Ecu of 3 Livres of Exchange. To Geneva, from 40 to 50 Stivers for one Crown of 60 Sols of Geneva. To Venice, from 40 to 50 Stivers for die Ducat of 24 Grofs B°. To Genoa and Novi, from 40 to 50 Stivers for the Pezzo of 5 Livres. To Leghorn, from 90 to 100 Grotes for the Pezzo of 6 Livres. To Frankfort, from 80 to 90 Grotes for a Flo- rin of 65 Cruitzers ; and lbmetimcs at fo much per Cent. Rixdollars for Rixdollars. To Leipfick, at fo much per Chit. Rixdollars for Rixdollars \ or they give from 60 to 90 Grotes for a Rixdollar of 24 Grofs of Lcipjick. To Hamburgh, from 30 to 34 Stivers for a Dol- lar of 2 Marks; or at fo much per Cent. Rixdol- lars for Rixdollars. To Of Money y freights, Meafuresy &c. 279 To Breflaiv, from 60 to 80 Grotes for the Dollar of 30 Groffes of the Empire; and fome- times by Rixdolia fo that one Florin is worth 1 Mark 3 Sols li- Pence Lubs. Leipfick. 5 Florins of Amfterdam is worth 2 Rixdollars. London. 100 Florins is the Par of 9 Pounds Sterling. Paris. 5 Florins is worth 2 Crowns in Spe- cie. Venice. 1 Florin is worth 3 Venetian Livers. b B c r. XVI. Examples of the Dutch Exchanges. BY the Term Current Money, or Caili, is to be underftood the Money that goes from Hand to Hand, and are received in Payment, which Negotiators, Merchants, and Bankers, call Cafh, or the Money that they keep in their Cherts, or Of Money, freights, Meafures, &c. 281 or Bags ; and the Current Money of Holland paffes under various Denominations, as may be feen in Page 260. To reduce Current Money into Bank Money of Holland, or any other Place where they have the like Difference. Example L Reduce 8294 Gilders 17 Stivers Current Money into Bank Money, Agio 54 per Cent. Cur. Money. Bank Gild. Stiv. If 105^ — IOO — 8294 17 20 20 2105 16589700 2105) 16589700(7881,092 Anf. 18547 17070 2300 19500 5550 Anf. 7881,092 Gild; which amounts to 7881 Gild, ?tV Stiv. Bank Money* To aSi Hayes's Negotiator s Magazine To reduce Bank Money into Current Monev, Agio 5 per Cent. Bo. Cur. Money Bo. Example DL If 100 — 105 — 455& 105 1 00, 4785 90 Anfwer 4785 Florins 18 SdfOH Current Money. Or thus: 5 is 2 0)4558 Bank Money 227 1 S Agio added A nfw. Florins 47S5 1 8 Stivers Cur. Money Example III. Holland owes L/mdon 4683 Gil- ders Current Money, and would know how much Sterling it will amount to, Exchange at 35 s. 8 d. B .per L. Sterling, Agio 5 per Cent. 21 ) 4683 Guilders Current Money Subftradt 223 Agio Remains 4460 Gilders Bank Money 10,7)446000(416,822 The Anhv. makes 416/. 16/. 54- Sterl. 180 730 SSo 260 46 Or Or you may bring the Price of Exchange and the 4460 Gilders into one Denomination ; and af- ter you have multiplied the Product of the above Gilders by ice, divide by the Price of the Ex- change (being ficft reduced as abovefaid) the Quo- tient will be Pounds Sterling, and the Remainder will be Fractions of the fame. Example IV. fbtttmi rants to Lomdm 3456 Gilders it I Stivers, at ] ] s. 10 d. B°. per L. Sterl. What will this Remittance amount to in London ? By Decimals 'tis done thus : Gild. /. HM5) 3456,85000 (340,576 Anfw. makes — ;.40 /. 11.*. 6 d. Sterl. 411S N.B.i 0,1 f is the Price turned 5-5° into Gilders, and * the Fractions 6450 v . .or". — — 360 The fame proved. 340,576 multiply by 10,15 take in 360 Anfaer, Florins 3456,85000 or 3456 Flor. i64-Stiv. The i 84 H A Y E s V Negotiators Magazine The fame proved another Way. I/mdon draws upon Holland for 340 /. 11 6 Sterling, at 33 J. 10 J. Exchange, would know what muft be paid for this Draught in Amjlerdam ? I s. d. 340 116 Stiv. 10 3 Gilders is 33 s. 10 d. Stiv. 3405 15 o 2 - -iV 34 01 1 17 00 6 345^ 16 7 Anfwer, Gilders 3456 16 7 or 3456 Gilders 164 Stivers. Or thus: 340 11 6 Multiply by - 203 Stiv. Price of Exchange 1021 14 6 68115 2|o) 6913I6 14 6 Anfwer, Gilders 3456 164. Stivers. Sect, Of Money, freights, Meafwesfec. z 8 5 Sect. XVII. An Example of the Sale Gold, &c, s. H 01 d. 1. 56 s. d. 5 °4 4 INVOICE of in Moidores in one Box, fhip'd on board the Fly-boat for Rotterdam, William Houghton Mafter, and go configned to Jofeph Bayley Merchant in Am/ierdam, for the pro- per Account and Rifque of "Jofeph Hill of London, mark'd as per Margin. To pnme Cofl of 1 1 1 Moidores, } I H Weight 143 Ounces 3 dwtsY 2 1 Grains, at 3 /. 1 9 j. 6d. per- Ounce ----- Charges, viz. I. Brokerage at f -per Cent, o Bill of Loading - o Charges of Entry and 7 • 3 >o 10 o snipping j Infurance of 570/. at? 1 4- per Cent. - ) 8 07 8 7 02 6 573 12 o N. B. All Gold is bought and fold in Atnjler- dam at the fixed Price of 355 Gilders Cafh Money per Mark fine ; fo that the riling and falling of the fame is not in the Value, but in the Advance. See more in the following Account of Sales of the faid Moidores, Debl\ 286 HayesV Negotiators Magazine Dr. Moidores for Account of Mr. Gild. Stiv. To Freight of 5700 Gilders at ~ per Cent. 14 05 To Commiffion for receiving it at Rotterdam, \ ^ r and forwarding to Amfterdam - - - j Freight from thence hither - - - - - 5 14 To Brokerage at \ per Mill. ----- 3 — To Commiflion at iper Cent. - - - - 30 10 59 l5 To Balance carried to the Credit of your 7 r Account Current Cam Money - - ] °°33 I9 Gilders 6093 14 A'. B. In Ajnjlerdarn Moidores are always bought and fold on the Standard of 22 Carats, and French Piftols on that of 2 1 Carats 74- Grains fine ; and that the Rnglijh Guineas commonly yield 1 1 Gil- ders 5 and 6 Stivers ; and if they are of Weight, they commonly gain about 1 per Cent, on Amfler- diun. Of Money, fFeights> Meafures, &c. 287 Joseph Hill Merchant in London. Q. Gild. Sthr. By Sale of 111 Moidores, Weight here') 17 Marks 7 Ounces 11 Engels of 22^ g r Q^ Carats, makes 16 Marks 1 1^ Grainsf"^ ^° fine, at 3 55 Gilders Current - - - j Advance 4^ Cfttf. - - - - - - 248 08 6093 14 We will now fuppofe, that when the Gold was lent to Amfterdam^ the Exchange was at 34 s. 3 d. Now to know what Profit is made, or what Lofs is fuftained by the aforefaid Confignment of 1 1 1 Moidores, according to the above Account of Sales. See the Operations in the following Page. The 2,88 Hayes V Negotiators Magazine Gild. Stiv. The in Moidores yielded in Amflerdam^i , as per Account of Sales in Curr. Money 3 l9 Agio at 5 per Cent, deducted - - - 301 13^ Shews the net Proceed in Bank Money to be 5732 05-^ Now the Invoice, Cofts and Charges of the faid Moi- dores, when fhipt onboard, amounted to 573/. \is. Sterling, at 34 J. 3 d. Exchange. /. s. s. d. 573 12 34 3 multiply by 411 12 6309 12 411 Grotes 229440 — ■ 4.° ) 2 3 5741 9 12 Grotes Makes Gild. Bo. 5893 1 5 Stiv.TotalCoft of faid Moidores Which were fold for 5732 05 Bank Money, which dedutfed, Shews Gild. Banco 161 IO were loft by this Negotiation. Which according to the following Operation, amounts to about 2 /. 1 4 s. 10 d. per Cent. 5893,75 ) 1 61 50,00000 ( 2,740 per Cent, loft by the Sale of the faid Moidores g 4362500 or, the- Lofs amounts to — about 2 I. 1 4 s. 10 d. per 2368750 Cent. 1 1250 Sect. Of Money, Heights \ Meafures> &C. 289 Sect. XVIII. An Example Jf jewing the Advan- tages to be made by taking the Opportunity of the fifing and failing of the Exchange. TH E Exchange at Amfterdam for London be- ing at 33 s. 6 d. Holland remits to London 1050 Gilders, amounting to 100 L. Sterling; but upon the Rife of the Exchange to 34 s. 6 d* Holland draws for the faid 100 /. back again. Ad- mitting Holland could negociate the faid Sum to the like Advantage four Times a Year j that is to fay, once in three Months, what would Holland get per Centum per Annum of London in taking fuch Opportunities ? s. I. s. 8ay> If 34,5 — 100 — 33,5 100 — /. • 1 33>5 ) 345°>000 ( 102,98^ 3450,o 1000 33oo 2850 Gains per Cent. 2,985 ! multiply by - 4 Months 1700 11,940 25 Anfwer, Holland would get of London about 1 1 K 1 8 s. 9^ d« per Cmtum per Annum. U Or IfO Ha yesV Negotiator's Magazine Or it may be done thus IOO multiply by 34 6 s. d. 3400 33 6 &i 50 2 345° 67 2 67 ) 6900 ( 102 200 66 20 67)i32o( 19 650 47 12 67)564(8 28 4 d. Anfw. 102/. 19 j. 8-; £ 67) 112 («J 45 /. J. d. So that /i/U gains 2198^ per Cent, in 3 Months 4 And they gain 11 x 8 9 Cm*, in 1 2 Months. Aa Of Money, freights, Meafures, &c. 291 An Example between Holland and Flanders. Holland remits to Lijle 4782 Gilders io Stivers B°. Exchange at i~ per Cent. Profit to Amjlerdam> and would know how much Current Money muft be paid in Lijle for this Remittance, fuppofing the Difference between the Current Money of Flan- ders, and the Money of Exchange of the faid Place3 to be yi- per Cent. Gild. Stiv. 6)4782 10 797 01 08 Flem, 398 10 10 11,95 12 06 19 oif L. 809 00 09-i Money of Exchange fcperCt 5663 °5 404 10 04.J 60I67 15 09f 13 o6f 869 14 04 Flem, Anfwer, 869/. 14.S. 4 J. Flemifti; or Current Mo- ney, muft be paid for the faid Remittance in Lijle. The 2 Ha y E s\r Negotiators Magazine The feme done the common Way. If ioo /. t s. d. ioi~ ■ 797 oi 08 iox-j 797 oi 08 y^yoS 06 08 398 10 10 ijoo)8o9jo3 19 02 20 Anfwer, 809/. 00/. 94. of Exchange. I If 100 Again, /. - io7i The Anfwer is, 869/. 14 j. \ d. Flem. Current Money muft be paid for the Remittance, as it is faid before. 79 12 4 00 /. s. d, — 809 00 9i ioyi 666$ 05 6f 80903 19 2 404 10 4t 869 71 15 It 20 14 35 12 4 21 4 85 Sect, 294 HayesV Negotiator s Magazine Sect. XX. Of Compound Arbitration. AMSTERDAM hath Orders to remit a certain Sum to Genoa. At the Time of this Order, Amjierdam can remit at 764 to Genoa , and London to Genoa at 41 d. The Query is, Whether it will be moll Advantage to Amjierdam to remit directly to Genoa, or to do it by the Way of Lon- don, the Exchange between Amjierdam and London being at 34 s. 6 d. and what is the Difference^ O/tf, If 1 Crown be - - - •20 Shillings Sterling be - How much Flemifh will - 41 d. Sterling., 34 s. 6 d. Flemifh, 1 Crown coft ? s. d. 34 6 41 100 — 7°T 1394 20~ 307)28300,000(92 283 2]o) I41I44. 670 560 2530 74O 126 182 7o^l or i from 100 take 92,182 remains 7,817 or 7 /. 1 6 j. 4 C*»/. it is better for Amjierdam to remit to G Sect. II. The fame of St. Gall. IN this Place Accounts are kept in Florins, Cruitzers, and Phennings St. Gall Money, or in Florins, Cruitzers, and Phennings of the Mo- ney of the Empire. 4 Phennings, or Pence, is reckoned to a Cruit- zer, and 1 5 Cruitzers, or 60 Phennings, to a Flo- rin, or Gould. A Rixdollar is valued at 102 Cruitzers St. Gall Money. A Shilling is 6 Cruitzers, a good Batzen goes at 5 Cruitzers, and an ordinary or common one at 4 Cruitzers. 100 Ells St. Gall Linen Meafure make 1 1 6 Ells in Amjlerdam. 6yi Yyds in London, 139^ Ells in Hamburgh, 100 Hayes V Negotiator s Magazine ioo Ells St. Gall Woollen Meafure makes 89^ Ells in Amjlerda?n, 1 074 Ells in Hamburgh, and 5 3 4- in Geneva. The Courfe of the Exchanges of St. Gall. 'Vienna, Noremburgh, Augfburgh, and Bolzana, from 105 to 115 Florins St. Gall Money for 100 Florins of thofe Places. Venice, 150 to 170 Florins for 10c Ducats B\ Geneva, 100 to 110 Cruitzers for the Crown of Geneva. Lions, 90 to 100 ditto for an Ecu Tournois. Sect. III. The fame of Zurich. T N this Place they keep their Accounts in Flo- JS^ rins, Cruitzers, and Hellers. A Florin is 16 Batz, or 40 Shillings, or 60 Cruitzers Zurich Money. A Batzen is 2t Shillings, or n~ Cruitzers Zurich Money. A Shilling is 2? Cruitzers, or 20 Hellers- and S Hellers is a Cruitzer. They make their Exchange with other Places moft commonly in the Zurich Money, reckoning their Rixdollars ( worth about 4 s. 6 d. Sterling ) at icS Cruitzers Zurich Money. And their Florin at 1 5 good or bad Batzen, or 60 Cruitzers., or 480 Hellers. Sect. Of Money, freights y Meaftires, Sec. 299 Sect. IV. Tke fame of Bazil, or Balle. T X fchlS C. nron they keep their Accounts, fome ± in Rixdollars, Sols, and Deniers; ibme in Li- vres, Sols, and Deniers ; ibme in Rixdollars, Cruit- zers, and Phennings ; and ibme in Florins, Cruit-^ zers, and Phennings. A Rixdollar is 3 Livrcs, or 20^. Gold, or 60 common, or 10S Cruitzers ; a Livre is 20 d. com- mon, or 36 Cruitzers ; a Florin is 60 Cruitzers 5 and a Sol or Penny is 1 2 Deniers. Thev have another Sort of Money, w hich con- flicts entirely in Grolhen and Plapperts, reckoning - 1 Rappen to a Grolhen, 6 Rappen to a Plappert, and 10 Rappen to a goodBatzen. The Rixgoulds, or 1 6 Grolhen, or 4 Pieces, which pais in the ad- jacent Parts of die Empire, are called the ordinary Goulds, and are 20 per Cent, worfe than the Swit- zer Money. And the Rixgould, it is faid, p&flbs current in fome Places in Switzerland for 40 Lu- cern Shillings, they being worth but 13 Batzena and one Switz Shilling. Now the Snitzer Shil- lings are of two Sorts 3 thole of Lucern, and thofe rf Zertber ; an 100 Zenker Shillings being worth 125 Lucern Shillings, lb that the Zenker Shillings are worth 2 5 per Cent, more than the Lucern ; and their Rixdollar, which is wordi about 4 s. 6 d Sterling, paffes current among them at 72 Zenker Shillings, or 90 Lucern ones. Now goo Hayes'/ Negotiators Magazine ftfow all the abovementioned Money are the ^al-Coins oiSn^itzeVl^dy excepting the ordinary { Moulds aboye^im^oned ; Jbut they all pafs current ! in ZdeeV^jS^uricb) tfair, and therefore great ICare ought to oe tak^c^w Buying and Selling, that .asKfffj§pq§F i^SL^fer^niade between the Zercher and S^'ifSeJ Coins. Sect. V. The fame of Strafburg. T N this Place they keep their Accounts in Rix- JL dollars and Cruitzers, or in Florins and Cruit- zers, or in Florins, Shillings, and Pence, or in Pounds, Shillings, and Pence. Their Current Coins. A Rixdollar is valued at if Florin, or 15 Shil- lings, or 90 Cruitzers, or 3 Livres., or 60 Sols. A Florin is 10 Shillings, or 60 Cruitzers, or 2 Livres, or 40 Sols. ALivre is 20 Sols, or 5 Shillings, or 30 Cruit- zers. A Shilling is 6 Cruitzers, or 4 Sols. They exchange for molt Places in the Silver of Alface, which is the fame with the Silver of France ; they reckoning the Rixdollar at 3 Livres Tournois. *JThe Agio is about 1 or 2 per Cent. CHAP. Of Money j JVcights, MeafuresfiCc. 3 ax CHAP. XL O/Hamburgh. TJAMB UR G H is the principal Place of Ex- change in all Germany. Sect. I. Of the Bank of Hamburgh. TH E Bank of Hamburgh is thought to be one of the beft and fecureft in Europe. It is under the Direction and Management of four of the moft eminent Perfons of the City, who are at certain Seafons elected by the whole Body of the Republick, who ftand engaged to make good all Deficiencies and Diminutions that may happen by Connivance among the Officers, Directors, or Ma- nagers, or by Embezzlements otherways. How- ever, to prevent thefe Things, the Officers are ob- liged to ftate and clear all their Accounts twice a Week. They do here, as in Amfterda?ni receive only the fineft and beft of their Currency in the Bank, and will allow t or I per Cent, to any Peribn that make them Payments in Rixdollars. This Bank is under much the fame Regulations as that of Ani- fterdam ; and all Perfons who do any Bufinefs there- in are fubject to many Fines and Penalties. As for Inftance ; No Sum under an 100 Marks can be entered in the Bank ; and for every Sum that is under 300 Marks, 2 Stivers muft be paid for en- tering, 3 0 2 HayesV Kegoclators Magazine tering it : And if there happens to be any odd Sum of 9, i o, or ii Deniers, they write down a Sti- ver; and if it be 7 or 8, they write but 6 De- niers ; and if it be a fmaller Sum, they take no notice of it. The Time for writing in the Bank is from 7 to 10 in the Morning. You may write therein at any Hour from 10 to 1, or from 3 to 5, but then you mull pay 2 Stivers for every Sum that fhail be entered in the Hours from 10 to 1, or from 3 to 5 in the Afternoon. The Time for enquiring if a Sum has been en- tered in the Bank is from 7 to 10 in the Morn- ing ; not but a Perfon may be informed at any of the Hours between 10 in Morning, and 5 in the Afternoon, if he pays 2 Stivers ; but then he may afk divers other Queftions of the like Nature at the fame Time without any further Charge. But the Merchants, and other confiderable Dealers in the Bank, do commonly give to the Book-keepers 20, 30, or 40 Marks per Annum for any extraordinary Trouble they may chance to give them at undue Hours : And they do the lame in Amjlerdam ; but it feems that none but the Inhabitants of that City have the Liberty of keeping Accounts in the Bank. And if a Stranger is deiirous to keep an Account therein, he is obliged to pay a confiderable Sum of Money for having an Account opened for him ; that is to fay, he muft firft purchafe his Freedom cf the City of Hamburgh, Not but the Bank will lend Money to Strangers, as well as Citizens, upon their pledging to them the Value in Jewels, Plate, or the like Security, to reftore the like Sum with Intereft in 6 Months Time 3 Of Money, Ultghts, Meafures, &c. 303 Time 5 and if they fail in fo doing, the Effects are forthwith expoled to Sale, upon aDay lpecihed in a Placart arnxed at the Bar, to give Notice to any Perfon who has a mind to purchLle them. The Bank is generally fhut up from the lafl of December to the nfteenth of January. The Agio is often very high here, it amounting ibmetimes to between 30 and 40 per Cent. SECTION II. ACCOUNTS are kept here in the Bank, and by the greater Part of the People, in Marks, Shillings Lubs, and Deniers ; and ibme keep them in Pounds, Shillings, and Pence Fle- miin. Tlie firft reckon 12 Deniers to a Shilling Lubs, and 1 o Lubiih Shillings to a Mark ; the other reckon 12 Deniers to a Shilling, and 20 Shillings to a Pound Flemiih, which is Marks, or 2i Rixdollars. One Shilling Flemiih is 6 Shilling? Lubs, and the Pound Flemiih is 120 Shillings Lubs, and the Rixdollar is S Shillings Flemiih. The Species of Monies current in Hamburgh. A Gold Ducat goes at 7 Marks, more or Ids, current. A Silver Ducattoon at 4 Marks, or 6 Shillings Sterling An Albert us, or Crois Dollar, at 3 Marks, 4 to 5 Shillix^s Lubs, A 304 H a Y E s V Negotiators Magazine A Rixdollar at 3 Marks, or 48 Shillings, or 4 Shillings 6 Pence Sterling. A Sletch Dollar at 2 Marks, or 3 Shillings Sterling. A Merchant's Dollar of Exchange at 33 Shillings Lubifh, or at 3 Shillings if Pence Sterling. A Danijli Crown at 2 Marks, or 3 Shillings Sterling. A Mark at 16 Shillings Lubs, or 18 Pence Sterl. A Shilling Lubs is lbmetimes called a Stiver, and, as 'tis faid before, 2 Grotes, or 2 Pence Fle- mish, or at 1 2 Phennings, and a Phenning is 2 Sexlings, and a Sexling is 2 Thrylings. The Ducats in this Place, and in Holland, are worth between 2 and 3 per Cent, more than the Bank Money, and the Bank Money is worth 4 or 5 per Cent, more than the Albertus Dollars. And the Danijlj Crowns are 3 or 4 per Cent. worfe than Currency, and more or lefs than 14 or 1 5 per Cent, worfe than Bank Money. The old Lunenburg and Brabenburg Drittles go for about 30 Shillings Lubs, and the new ones at 28 or 29 more or lefs Shillings Lubs. Their Monies of Exchange are the RixdoDars, Merchants Dollars, and Marks, with their Frac- tions. Measures of Hamburgh. 100 Ells makes in Amjierdam 83-r Aims, mBreflaw 1044 Auns, in Dantzick 92-r Auns, in London 624- Yards, in No- rcmburg ^\ Ells. The Lubeck Ell is iV fhorter than the Hamburgh one. All Silken Goods are for the moft Part bought and fold in Hamburgh by the Brabant Ell, five whereof makes fix Hamburgh Ells, ICQ Of Mo?iey, Weights y Meajhres, &c. 3 o 5. And for Corn, they do reckon 90 Scheppels to a Laft, and 83 Scheppels make about 10 Quar- ters in London. In their Weights they do reckon as follows, viz. 2 Loodt is one Ounce, 1 6 Ounces is one Pound, 10 lt> is a Stone of Wool or Feathers, 14 lb is a Lifpound, 20 lb is a Stone of Flax, 8 Lilpound is one Centner, and makes about 120 lb Avoirdu- pois in London y i6lb is a Lifpound, 20 Lilpound is a Scliippbund of Feathers or Wool, and 16 Lif- pound is a Tun of Butter or Tallow. 1 00 lb of Hamburgh makes 98 lb in Amjlerdam^ 1 03f tb in Antwerp^ and 1 077 lb in London. SECTION III. / Loiidon. 40 Marks Lubs is worth 3 /. Sterling.. Anijierdam. 6 Marks is worth 5 Gilders, or Florins. Antwerp. 15 Marks is worth 2 Pound Flem, Cadiz. 34 Marks is worth 95 Rials. Dantzick. 1 Mark is worth one Florin of Dantzich Frankjort. 2 Marks is worth one Florin of 60 Cruitzers. Leipfick. 3 Marks is worth one Rixdollar of Leipfick. Paris. 1 Mark is worth one Livre in Specie Venice. 2 Marks is worth 5 Livres ; lb that |5 \ one Mark is worth 2 Livres 10 Sols. X Sett. 3 o 6 Hayes'j Negotiator s Magazine Sect. IV. Of the current Prices of the Exchanges of Hamburgh. f London, from 28 to 38 Schillings Flemifh to one Pound Sterling. France, from 20 to 30 ShilKLubsfor 1 Crown. Spain, from 35 to 60 ditto for the Ducat of 375 Marvedies. Portugal^ from 40 to 60 Pence for one Crui- fade of 400 Reas. Holland, the Sletch Dollar for 3 1 to 3 5 Stivers, and fometimes Rixdollars for Rixdollars at fo much per Cent. Frankfort, the Sletch Dollar for 45 to 55 Cruitzers of Exchange, and Rixdollars for Rixdollars at fo much per Cent. Noremburg, the Merchants Dollar for 60 to 70 Cruitzers Current, and Rixdollars for Rixdollars at fo much per Cent. Venice, from 85. to 100 Grotes for one Ducat of 24 Grofs Banco. Leipfick, Rixdollars for Rixdollars at fo much per Cent. Berlin, ditto. Da?itzick, ditto. Flanders, the Mark Lubs for 16 *- to iy \ Sti- vers of Flanders. Sweden, the Rixdollar for 25 to 28 more or lefs Copper Marks, and fometimes at fo much per Cent. Mu/covy, the Rixdollar for an uncertain Num- ber of Copecks, They 2 CO > 1 V Of Money, TVetghts, Meafttres, &c. 307 They exchange with Geneva the fame as with Paris and Lions ; and Bills are drawn upon Lubeck payable in Hamburgh. It is from this laft Place the Term Lubs is derived, it being the Place where the Shillings Lubs are coined. In Hamburgh they do allow 1 2 Days of Grace. London hath very feldom any Exchanges directly to any other Place in Germany -y but when they have Occafidn to remit to, or draw upon any other Place in Gennav.\\ they do it either by the Way of Amfterdam^ Antwerp y or Hamburgh. Sect. V. Examples of the Exchanges between Hamburgh and London. fJA MB URGH draws upon London for 276 /. 1 5 4 bb Of Money , Weights, Meafures, &c. 3 2 1 They exchange with London moft commonly by the Way of Amjlerdam, Lions, or Bourdeaux. Augjburg exchanges with many other Places, giv- ing either the Cruitzer, the Florin of 60 Cruit- zers, or the Rixdollar of 90 Cruitzers. CHAP. XVI. O/Leipsick and Naumburg, IN both thefe Places their Money is exprefled, and Merchants Books and Accounts are kept in Rixdollars, GrofTes, and in Phennings, or Dcmers. And at both Places Fairs are kept, at which Times mod: Bills of Exchange are payable. There are three Fairs kept in every Year, and each Fair is opened by Proclamation on the firft Day, and by the fame is broke up on the lafh Day. The firft Fair always begins on New Year's Day, unlefs it happens to be on a Sunday, then it is opened on the following Day. The fecond is called Eajler Fair, and begins on the third Monday after Eafter. The third is called Michaelmas Fair, and begins the firft Monday after Michaelmas Day ; if Michael- mas Ddy happens to be on a Sunday, it begins 051 the Monday following. At Naumburg, they have but one Fair in the Year, which is that of St. Peters and St. Pazd's : It begins always upon that Day, and hold 8 Days, but thofe of Leipjick hold 14 Days apiece. Y Sect^ $iz Hayes'j Negotiator s Magazine Sect. I. Of the Current Coins of Leipfick. THE Money of Saxony confifts in 4 Pieces, Double and Single Grofhes. The Rixdollar is 24 Grofhen, or i~ Rixgould, or Florin. A Rixgilder, or Gould, is a -J Piece, or 16 Gromes. To receive or pay a Specie Dollar fingly, it yields i^- or \\ of a common Rixdollar. A Ducat is 4 Gilders, or 2^ Rixdollars. They have alfo 8, 4, 2, 14-, i^- Grofh Pieces, and they reckon 12 Phennings to a Grofs. And they have fome fmaller Pieces, which pafs for 9, 8, 6, 4, and 3 Phennings. Sect. II. Of their Meafures and Weights. AN hundred Ells of Leipfick makes 84 Auns in Amfierdam, 104 ditto in Breflaw, 93 ditto in Dantzick, 100 ditto in Hamburgh, 84 ditto in Brabant, 7 1 \ ditto in St. Gall Linen Mea- fure, 914 in ditto Cloth Meafure, 50 ditto in Ge- ?ievay 64 Yards in London, and 8 5 Braces in Ve- nice. 100 lb Weight of Leipjick makes 95ft in Am- fierdam, 1 ioi lb in Lions, io4ib in London, 96'lb in Hamburgh, 93 lb in Frankfort, and 138 ft) in Leghorn. SECTION Of Money f > Weights r, Mea/ures, &c. 323 SECTION III. [London. 40 Rixdollars is worth 9/. fo that one Rixdollar is worth 4 Shillings and 6 Pence Sterling. Amjterdam. 2 Rixdollars is worth 5 Florins j fo that one Rixdollar is worth 2 Florins 1 o Stivers of Amjterdam. Antwerp* 5 Rixdollars is worth 2 /. Flemifh ; fo that one Rixdollar is worth 8 Shillings Flemifh of Antwerp. Cadiz. 34 Rixdollars is worth 285 Rials -> fo that one Rixdollar is worth 8 Rials 1 3 Mar- vedies. Dantztck. 1 Rixdollar of Leipfick is worth 3 Florins of Dantzick. Frankfort. 2 Rixdollars of ditto is worth 3 Florins of Frankfort. Hamkirgh. 1 Rixdollar is worth 3 Marks Lubs. Paris. 1 Rixdollar is worth 3 Livres. Venice. 2 Rixdollars is worth 15 Livres. Sect. IV. Of their Monies of Excba?ige. THEIR Monies of Exchange are worth be- tween 10 and 20 per Cent, more than their Current Money. For all Bills of Exchange that are drawn upon thefe Places for Current Money, they pay three Quarters of the Sum in 4 Grofs Pieces, and the remaining Quarter in Grofs Pieces, this being cal- led their Current Money. Y z And 3^4 Hayes'/ Negotiator s Magazine And Bills that are drawn for Money of Fa- change, are always paid in Rixdollars, which they frequently call Crowns of Exchange. Bills of Par- cels and Notes of Hand are paid in GrolTes. N. B. The 4 Grafs Pieces are worth more than the Grolfes ~ per Cent, the 3ds or 8 Groflcs Pieces of L:.ne?iburg, Bradenburg, and Saxony, are worth more than the 4 Grofs Pieces and the Grofles to- gether (being commonly called the Current Mo- ney) about 2 per Cent. Sect. V. The Courfe of the Exchange in Leipfick, f Frankfort, in the Fair-Time, 98 Rixdollars more or lefs in Specie for 1 00 Rixdollars of 74 Cruitzers of Exchange Money and the Money is paid in Leipfick with Crofs and Albertus Dollars. They do alio exchange in the Fair-Time by giving 96 and 97 Rixdollars more or lefs in 1 8 Grofhes, or 4- Pieces, for 100 Rixdollars of 90 Xs Cur- rent Money. At other Times, they exchange at 14 Days Sight, at 98 Rixdollars more or lefs, § (Paying the Contents in New 4 Pieces) for 100 Sb / Rixdollars of 90 Cruitzers. \ Hamburgh, 128 to 139 Rixdollars New \ Pieces more or lefs for 100 Rixdollars Banco. " £ Holland, 1 30 to 1 32 Rixdollars New ZT Pieces more or lefs for 100 Rixdollars at 50 Stivers Banco. FJcremltrrg, 100 Rixdollars Current Money for 9S to 100 Rixdollars Noremburg Current Money of 90 Cruitzers. France, 118 to 120 Rixdollars for 100 Crowns in Specie. Brt/aw, Vienna, and Augjburg, 94 to 98 Rixdol- \ lars for 100 ditto of 90 Cruitzers. CHAP. Of 1\ 'fovej WeightSy Me a fares , &c. 325 CHAP. XV II. Of B R E S L A W. TH E Coins in this Place are as follow, viz. A Rixdollar is 30 Imperial Grofhen, or 45 Bohemian Silver ditto, or White Groihen, or 90 Cruitzers. One Imperial Grofh, Silver Grofh, or Bohemian ditto is 1 i White Groih, or 3 Cruitzers, 4 Groihen, or 6 Dryers or 1 2 Sols or Pence. A White Grolh is 2 Cruitzers, or 3 Dryers. A Cruitzer is 4 Pence ; one Groihen is 3 Pence ; and one Dryer is 2 Pence. One Gould, or \ Piece, is 20 Imperial Gromen. A Slitch Dollar is imaginary, and is 24 Silver Groihen, or 36 White Groihen, or 72 Cruitzers. The Courfe of BreJIaiv Exchange, BreJIaii) gives to Holland 138 to 140 Rixdollars for 100 ditto Banco. To Hamburgh they give 135 to 136 Rixdollars Imperial Money for 100 Rixdollars Banco. Of their Weights and Meafures. iooib of their Weight makes 100 lb in Ham- burgh. 100 Ells of their Meafure makes 96 Ells in Hamburgh, Y 3 CHAP. 526 HayesV Kegociators Magazine CHAP. XVIII. 0/CoLOGN, TH E moft common Money in this Place is the Rixdollar, which they divide into 7S Albuffes, e;ch Albus contains 2 Cruitzers, and each Cruitzer into 4 Hellers ; otherways they divide their Albus into 12 Deniers. Their Rix~ dollar is worth 4 Shillings and 6 Pence Sterling, Their greateft Exchange is with Amfterdam, Rix- dollars for Rixdollars at fo much per Cent. CHAP. XIX. Of Em d e n. TH E moft confiderable Money here are the Rixdollars, which they value at 2 Florins 14 Sols, worth 4 Shillings and 6 Pence Sterling. They principally exchange with Amjterdam> giving Rixdollars for Rixdollars at fo much per Cent, and fometimes they give Florins for Florins at fo much per Cent. CHAP. XX. Of B R E M E N. THEIR Current Coins are as follow, viz. A Rixdollar is 1 i Double or 3 Single Bremen Marks, or 24 double Shillings, or 6 Head Pieces, or 72 Grotes, or 360 Swaar. A Of Money, J flights, il feafures} &c. 327 A double Mark Piece is 48 Grotes, 4 Head Pieces, or 1 20 Swaar. A double Shilling is 3 Grotes, or 15 Swaar. A Single dicto is ii Grotes, or Swaar. A Grote is 5 Swaar, and a Swaar is 2 Pence or Phennings. Courfe of Bremen Exchanges. Bremen gives to Ajnjlerdam 1 2 8 to 130 Rixdollars of 72 Grotes for 100 Rixdollars of 50 Stivers B\ The Bremen Weight is about 3 per Cent, lighter than that of Amjlerdam ; fo that one may fay that iooibin Am (I er dam makes 103ft m Bremen, and 100 ib of Bremen 97 lb of Amjlerdam. CHAP. XXI. Of S T E T I N. IN this Duchy 36 Shillings Lubs is reckoned to a Rixdollar worth 54 Pence Sterling and Draughts and Remittances between this Place and Amfterdam are made in Rixdollars at 4, 5, more or lefs, per Cent. CHAP. XXII. Of Bolzano. THIS Place has very great Dealings in Ex- changes with feveral Parts of Germany, France, Italy, and Switzerland and very great Fairs are kept here for the Exchanges. The Y 4 moft 328 Hayes's Negotiator s Magazine moft confiderable Money here, are the German Dollars and Rixdollars. The Rixdollars are of two Sorts, viz. of 90 Cruitzers, and of 93 Cruit- zers. There is but a very fmall Difference be- tween their Dollars, and the Dollars of Exchange of Frankfort. They do likewife make ufe of the Florin of 60 Cruitzers. CD > » — < The Current Prices of their Exchanges. "Lions, 80 to 90 Cruitzers for one Crown of 60 Sols Tournois in Specie. Florence, 115 to 120 Cruitzers for one Pefo of Livres. Rome, 155 to 175 Cruitzers for one Romijh Crown. Frankfort, 95 to 98 Rixdollars of 90 Cruitzers for 100 Rixdollars. Augfburg and Nore?nburg, the fame. Bergam, the Rixdollar of 93 Cruitzers for 150 to 170 Sols. Bologn, the Florin of 60 Cruitzers for 55 to 79 Sols. Venice, the Rixdollar of 93 Cruitzers for 130 to 140 Sols Banco. Ancona, the Florin of 60 Cruitzers for 55 to 60 Bayocks. St. Gall, 100 ditto for no to 115 Florins, CHAR Of Money, Weights, Meaf tires, &c. 329 CHAP. XXIII. Of /^Eastland Countries, Sect. I. Of Denmark and Norway. IN thefe Countries Accounts are kept in Marks and Shillings, reckoning 1 6 Danijh Shillings to a Mark. And their Monies go under the following De- nominations, viz. A Rixdollar is 6 DaniJJj Marks. A common Dollar, or Danijh Crown, is 4 Da- nijh Marks. A double ditto is 8 ditto. A Sletch Dollar, or Half Crown is 2 ditto. A Rix Ort, or i Rixdollar is 24 Danijh Shillings, A Juftus Judex, or an Ebrew, which went for- merly at 2 Marks, or 32 Danijh Shillings, is now 28 ditto. A Rix Mark is 20 ditto. A Common Mark is 1 6 ditto. A Danijh Gludftad or Gotterp Dutgen is 6 Da- nij/j Shillings. The Foreign Dutgen goes at 5 Danijh Shillings, Their Weights. 1 o lb is a Stone, and 1 2 Stone is a Cantar, or 120 lb. 32 Stone, or 3201b is a Shippound : And 100 lb in London makes in thefe Places about 92th. Their Meafure for Cloth is an Aun about half an Englijh Ell 5 or 100 Norway Ells makes 6j~ Yards 33° Ha yes'j Negociators Magazine Yards in London, 101 in Sweden, 914 in Holland, 108 in Hamburgh \ 1124 in Bre/Jazv, and 101-Hn Dantzkk. Their Meafure for Corn is a Tun, which holds about 4 Bufhels in London. Their Meafure for Liquor is a Kan, and a Pot ; 4 Pots is a Kan, and it holds near one Gallon Win- cbejler Meafure. The Current Prices of their Exchanges. Thefe Places exchange with Hamburgh at the reciprocal Ufance of 8 Days Sight, and they give j 4 per Cent, more or lefs in Danijh Crowns to re- ceive Rixdollars in Hamburgh. To Amfterdam they give more or lefs than 10 -per Cent, in Danijh Crowns in favour of Holland, to receive Rixdollars in Amfterdam. To France, more or lefs than 80 Rixdollars in 'Danijh Crowns- for 100 Ecu's of 60 Sols in Specie. To London, the Rixdollar for between 45 and 58 Pence Sterling, To Leipfick, 84 more or lefs Rixdollars in Danijh Crowns for 100 Rixdollars, to be received in new t Pieces in Leipfck. Sect, II. Of Poland. T N Cracow fome keep their Accounts in Pence. J[ GrofTes, and Florins, reckoning 1 8 Pence to a Grofs, and 30 Grofs to a Florin ; and others keep them in Rixdollars and Grofles reckoning 90 Gfoi- to a Rixdollar, Their Of Money, freights, MeaJiavSj &c. 331 Their common Coins are as follow : iS Grades make one Ort, 30 GroiTes or Gro- men one Florin. A Specie Dollar is 40 Gromen, Value 2 s. Sterl. A Rixdollir is 5 Ort?, or 90 Gromen, Value 4 Shillings and 6 Pence Sterling. A Gold Ducat is 6 Florins, Value 9 s. Sterl. A Crols Dollar and a Specie Dollar go at be- tween 3 and 4 Florins apiece, there being an Agio upon them lbmetimes amounting to between 10 and 1 5 per Cent. The common Weight of Poland is the tb, of which 136 lb is a Quintar, and makes in London about 1 14 tb. Their Meafure for Cloth is the Aun, and is in Length about half an Eng/ijl: Ell ; but their Linens are fold by the Shock, which contains about §j{ EngUjh Ells. London exchanges with this Kingdom Via Am- fterdam and Hamburgh. Sect. III. Of Riga. IN this Place Accounts are kept in Rixdollars and Gromen, reckoning 90 Gromen to a Dollar, The common Coins are, viz. A Rixdollar valued at 1 5 Riga Marks, or 4 1, 6 d. Sterling. A Po/iJJ: Gold or Florin is 5 Riga Marks, or 30 Gromen. A Riga Mark is 6 Grofs, or iS Whittens, or White Shillings. A Grofs or Gromen is 3 Whittens, or 6 Black d\ A Vording is ii Grofs, or 4$ Whittens, or 9 d\ Their 3 3 2 Hayes'/ Negotiators Magazine Their Meafare for Cloth is an Aun, in Length about half an Englijh Ell. Their Weight. 20 Pound is a Lifpound, and 20 Lifpound is a Shippond ; fo that a Shippond is 400 lb in Riga, and 6 Shippond is a Laft, and makes in London about Ct. Avoird. Weight. A Laft of Corn of Riga makes about 72 Bufhels Winckefter Meafure. The hundred of Brouage Salt renders in this Place about 1 o Lafts ; and Strangers are allowed no greater Privilege in difpofing of it here than they are at Koningjburg. Their Exchange to Hamburgh is commonly ne- gociated in Rixdollars for Rixdollars at fo much per Cent, and fometimes they give a certain Num- ber of Grofhen for the Rixdollar B°. of Hamburgh* And they exchange with Amjlerdam much after the fame Manner, Sect. IV. Of Prussia. IN this Kingdom Accounts are kept in Florins, Grofs, and Pence \ and they do reckon 18 fence to a Grofs, and 30 Grofhes to a Florin, Their Current Monies are as follow. A Rixdollar valued at 3 Florins, or 90 Grofhes, or 4 s. 6 d. Sterling. A Goulden, or Florin, at 20 Brummers or 30 Grofhes. An Ort at 1 8 Grofs, and 5 Orts is a Rixdollar, A Brummer, or Abrafs, at i~ Grofhen. A Grofhen, or Grofs, is 2 Polchen, or 18 Pence. A Sol, or Shilling, is 6 Pence or Deniers. A PoU Of Money, freights, Men fares, &c. 333 A Polchcn is 9 Pence. The imaginary Mark is 20 Grofhen. The Crofs Dollar is 3 Florins 16 Grofhen. A Specie Dollar is 3 Florins 1 8 Grofhen. N. B. The Crofs Dollar and Specie Dollar do fometimes give an Agio of 1 o or 15 per Cent, and a Ducat goes at 7 Florins 1 o Grofs more or lefs Polijh Money. Their Weights for fine Goods are of the fmall Stone of 24 ft. 1 6 ft> is a Lifpound, and 20 Lif- pound is a Shippound of 320 tb. But their grofs or bulky Goods are weighed by the Stone of 34 lb, 10 whereof goes to a Shippond of 340ft, and 116 ib of their Weight makes a- bout 100 tb in London. Their Meafure for Linen is the Aun, 100 where- of makes about 52 Englijh Ells. Their Meafure for Beer is the Fat, containing 180 Stoops, which is about 80 Stoops Antwerp Meafure. Their Corn Meafure is the Sheffel. 60 Sheffels is a Laft, and 4 Sheffels makes a Muid, and is a Stone of 34 tb, and 56 Sheffels makes a Laft in Amjlerdamy or 10^. Quarters in London. The Courfe of Exchanges of PruJJia. Berlin exchanges with London by the Way of Amflerdam or Hamburgh; and diredlly by the Rix- dollar, giving the faid Rixdollar for between 4 and 5 Shillings Sterling. They give to Amfterdam the Rixdollar for 40 to 48 Stivers, or 118 to 1 3 o Rixdollars for iooRix- dollars of 50 Stivers. To Hamburgh, 115 to 135 Rixdollars for 100 ditto of 48 Shillings Lubs, To 334 Hayes V Negotiators Magazine To Augjburg and Noremburg, 100 ditto for 90 to 100 ditto of 90 Cruitzers. To Brejlaw, 90 to 96 ditto for 100 ditto of Brejlaw. To Switzerland, 128 to 130 ditto for 100 ditto. Sect. V. Dantzick. TH E Merchants, &c. of this Place keep their Accounts in PoliJJj Pence, Grofs, and Flo- 1 ins, reckoning 18 Pence to a Grafs, and 30 Grofs to a Florin. Their Money is the fame as in Berlin. Their Meafure for Cloth is an Aun. 8 Anns (or about 4 per Ct. lefs) will render in London 5 Yards. Note, That 60 Pieces of any Commodity that is fold by Tale makes a Shock, and in Linen 60 Anns is a Shock ; but when Linen is very narrow, and not creafed or folded double, in fuch Linens 2 Auns is reckoned but one Aun. Linen called Crocas Canvas, is bought by the Piece, and mould meafure 48 Daiitzick Auns. A Dantzick Aun is about half an Englijh Ell : Or 100 Ells of Dant- zick makes Yards in London, 97 Ells in Ham- burgh y 89 in Anifterdam, 1 12 in Brejlaw ^ 102 in Sweden. Their Weights. 34 th is a Stone, 10 Stone a Shippond, and 6 Shippond or 60 Stone is a Laft of Hemp, Flax, and fuch light Goods 9 and this Laft makes in London about 17 Ct. and 7 tb Avoir- dupois Weight, and 100 lb Dantzick Wt. makes 90 lb in Hamburgh. But for Pot-afhes the Laftage is reckoned dou- ble, Diss; 1 2 Shipponds of Pot-afhes takes up no more Of Money, freights, Meafures, &c. 335 more room in a Ship than 6 Shippond of Hemp or Flax. There is likewife ufed in Dantzick a Weight called a imall Stone, for Pepper, Spices, Grocery, and fome other certain Commodities ; which fmali Stone weighs but 24 ft> Dantztck Weight. Tin is fold here by the Centner of 120 ib, and makes in London about 1 1 2 ft>. Corn is fold by the ShefFel, whereof 60 is a Laft, which will render in London between 80 and 84 Bufhels. The Hundred of Brouage Salt in France renders here \\~ or 12 Lafts, and 7'- or yi of the laid Lafts make the great Hundred in Amfterdam. N. B. Strangers may fell Salt to the Inhabitants, but they are not fuffered to fell it to any elfe -} nor will they permit Strangers to tranfport it through their Town, to fell to the other People in the Country in any other Place. Oaken Planks, Wainfcot, and Pipe -wood, are all fold by the Shock. Clap-boards and r1 at— wood are fold by the great Hundred, which is 48 Shocks. Of the Courfe of Dantzick Exchange. London exchanges with PruJJia and Poland by the Way of Amfterdam and Hamburgh. They do ufually exchange with Hamburgh for the Rixdollar, giving an uncertain Number of Grofhen for the Rixdollar Banco. And as the current Rixdollars at Dantzick and Koningjburg are valued at 4 s. 6 d. Sterling, the Merchants do therefore ufually reckon what they get in Exchange above 90 Grofhens Polijh for a Rixdollar 53 6 Hayes / Negotiator's Magazine Rixdollar Banco of Hamburgh, is fo much Profit by the Exchange. When Dantzick values upon Amfterdatn^ Mer- chants do reckon whatever they do advance above 2 1 6i Polijh Grofhens for the Pound Flemifh Banco is fo much Profit to the Drawer -> becaufe 2i6t Polijh Groffes is reckoned to be the Par with one Pound Flemifh Banco Money. ■N* B. It is obferved in this Place, as Corn ad- vances in Price, the Exchanges fall to that Degree, as it has been known to have fallen fometimes un- der Par; The fame may be faid of Konin Jburgi with this Exception, that it values always upon Amfterdam in Current Monies. Sect. VI. Of Koninsburg. IN this Place they keep their Accounts in the fame Monies, and their Species are the fame as in Dantzick. Their Meafure for Woollen Cloth is the Aun, which is about half an Englijh Aun. Linen Cloth and Wood are both fold by the Shock, they reckoning 60 Auns of Linen, and 60 Pieces of Wood to the Shock 3 but in narrow Li- nens they reckon 120 Auns to the Shock. Their Weights. 40 tt> is a Stone, and 10 Stone is a Shippond, and 6 Shippond or 60 Stone is a Laft for Hemp, Flax, and fuch light Goods. The faid Laft makes in London a fmall Matter above 18 Ct. Weight. Tin OfMo>;ejy // "eights, Men fares y &c. ^7 Tin is fold by the Centner of 1 2S lb, and makes in London 112 Tb. The Hundred of Brouagc Salt in France makes ic Lafts of this Place • but Strangers are not here allowed to keep Salt in Store-houies for Sale. They exchange with the fame Places as Dant- zick^ and allow 10 Days refpite in paying Bills. To Hamburgh they give an uncertain Number of Polijh Grolfes for one Rixdollar Banco, and with Anifterdam they do the fame for the Pound Fle- miih Current Money. Sect. VII. Of Sweden. IN Stockholm they keep their Accounts in Rix- dollars, Copper Dollars, and Runfticks, reck- oning jfi Runlticks to a Copper Dollar, and 6 Copper Dollars to a Rixdollar valued at 3 Polijh Florins, or about 4 s. 6 d. Sterling; They have no fuch Coin as a Runftick, but only ufed in their Reckoning j yet they have Cop- per Farthings, of which they reckon 2 to a Run- ftick, 3 Runrticks to a Whitton, ioi Whittons to a Copper Dollar, and 6 Copper Dollars, or 64 Whittons to a Rixdollar. And they do reckon S Runfticks to a Mark, and 4 Marks to a Copper Dollar. They have a Stiver Dollar wiiich is called the Hwtdts Rixdollar, and is in Value about half a current Rixdollar of Germany or Poland, worth a- bout 2 s. id. Sterling. In this Specie the Cuftom of all exported Goods muft be paid, and it is di- vided into ;2 Ore, as thevcall them. Z The 3 3 S Hayes'/ Xegoc/ators Magazine The Dollar in which the Cuflom of all import- ed Goods" muft be paid is the Swedijh Copper-plate Dollar, which are cf twice the Value of the Stiver Dollar, 3 Co- pecks is an Altin, 10 Copecks one Grievener, 25 Copecks is a Polpoltin, 50 Copecks is a Poltin, j 00 Copecks is a Rubble, and 2 Rubbles is a Ducat. They Of Money y Jf 'eights, Meafure s, &Cc. 341 They count their iinall Money in Altines, add- ing one Copeck to make the Rubble. The Rubble is worth between 4 and 5 Shillings Sterling. An Englifo Crown Piece goes among them ac- cording to Weight at between 120 and 130 Co- pecks. Their Weights are Zollotnicks, Pounds, Poods, and Barquits. 96 Zollotnicks makes their Pound, which is counted equal to 13 Oz. 3 dwts. 6 Grains Troy Weight ; 40 Pounds is one Pood ; 1 o Pood is a Barquit. A Pood of 40 lb RuJJia Weight will render in England 35 ^ or 36 lb Avoirdupois Wt. Their Long Meafure for Linen and Woollen is the Arlheen, which is divided into 16 Vemcoves, and is 28 Inches London Meafure; and 7 Englijh Yards makes 9 of their Ariheens, or 100 Arfheens makes 56 Englifo Ells. Their Meafure for Corn are the Chetwert, and the Chetwericks. 8 Chetwericks is one Chetwert, which holds about 5 A Bufliels Winchejler Mea- fure. They pay the Cuftoms in no other Money than foreign Rixdollars, Englijh Crowns, Ducats, and fuch like good whole Pieces, which they do alfo take by Weight. They give to Hamburgh in Exchange an uncer~ tain Number of Copecks for the Rixdollar of Hani* burgh. To Aynjlerdamy the Rubble for an uncertain Number of Stivers CalTa of Amjlerdam. CHAP, 3 42 Ha y e ss Negociators Magazine CHAP. XXIV. Of P O R T U G A L. THROUGHOUT the Portugal Domi- nions in general they keep their Accounts and Reckonings . in Milreas and Reas, counting iooc Reas to a Milrea, fepatatihg the Milreas from the Reas thus 73 5 w 426. which is as much as to fay, 735 Milreas and 426 Reas. The Current Coins of Portugal are as follow, viz. Sterling. In Gold. /. s. d. The twenty five Mill 600 Reas Piece worth 7 04 — The twenty four Mill, or 5 Moidore Piece 615 — The twelve Mill 800 Reas Piece - - - 3 12 • — The twelve Mill, or 24- Moidore Piece - 3 07 06 The fix Mill 400 Reas Piece - -- - 116 — The four Mill 800 Reas, or Moidore Piece 1 07 — The three Mill 200 Reas Piece - - - — 18 — The two Mill 400 Reas,or ~ Moidore Piece — 1 3 06 The one Mill 600 Reas Piece - - 09 — The one Mill 200 Reas,or ^ Moidore Piece — 06 09 The 800 Reas, or 8 Teftoon Piece - - — 04 c.6 In Silver. The 400 Reas, or Crown, or Cruifade Piece — 02 03 A Moidore, containing 480 Reas - — 02 08-J- A Cruifade, or — Moidore, 400 Reas — 02 03 A .240 Reas, or .12 Vintin Piece. - - ; — 01 06 A 100 Reas, or 5 Vintin Piece - 09 A 50 Reas, or 2-'- Vintin Piece - ■ 034 In Copper. A Vintin Piece, or 20 Reas Piece - oi-J- A 10 Reas, or \ Vintin Piece - - A 5 Reas, or \ Vintin Piece - - — t They Of Money, Weights, Mc a fares, &c. 3 43 They have fome fmaller Pieces of Copper a- riiong them, which do daily pals current in Por- tugal. Their Weights are but of one Sort, and they are divided as follows : 2 Drams is one Octavo, 8 Octavos is one Ounce, 1 6 Ounces is one Arrata or Pound ; 3 2 Pound is an Arob, or Rove ; and 4 Roves is a Quintal, or 128 Pound; i a Rove is 16 Pound. They do alfo divide the above Ounce into Pennyweights and Grains, the fame Parts the Ounce Troy is divided into at London. N. B. The above Weights are between 3 and 4 per Cent, heavier than the London Avoirdupois. Their Long Meafure. The firft is the Vara, or Vare, and is of the length of an Englijh Ell, 8i4 whereof, by curious Observation, has been found to make about 100 Yards. The other Meafure is called a Cavida. and is i of an Englijh Yard. Their Meafures for Wine, Oyl, and all other Liquors. Their largeft Meafure is the Almuda, which contains 12 Cavadas ; and they have ~ Ca- vadas and 4: Cavadas. They do alfo make ufe of Pots that hold ± a Gallon, and another that holds i of a Gallon. The above Almuda holds 4- Gal- lons Wincheftcr Meafure. Corn and Salt Meafure. They reckon 60 Al- quies to a rVIoy, which contains about 3 Etiglifi Quarters, and 2i Alquies is one Englijh Bufhel. The Courfes of the Exchanges of Portugal ; whereof Lijbon and Oporto are the principal Places of Exchange. They give to London 1000 Reas for between 60 and 70 dt Sterling. Z 4 To 5 44 Ha ye sV Negotiators Magazine To Holland, throughout the 17 Provinces, and to Hamburgh, the Crown or Cruifade for between 40 and 60 d. Flemifh. To Spain, an uncertain Number of Reas for the Ducat, or Piece of Eight. To France, between 400 and 500 Reas for the French Crown of Exchange. To Florence, between 500 and 600 Reas for the Crown of j~ Livres. To Genoa, the fame for one Scudi. To Leghorn, the fame for one Dollar of 6 Li- vres. When they exchange with France, it is com- monly done by the Way of Amjlerdam, Antwerp, or Hamburgh, To the Low Countries, by the Way of Lijbon ; and from any other Place in Portugal the Ex- changes are the fame as at Lijbon and Oporto, Examples of the Portugal Exchanges. Lijbon or Oporto remits to London 87320 367 at 5 s, 3 d. Exchange. The Query is, How much Sterl. mull be paid in London for this Remittance ? s. — 5i 2183 09175 3tV i09 l545%75 2292, 2463375 Anfwer, 2292,2463375 /. or 2292/. 4/. lid Stcri. fnuft be paid in London, The Of Money, Weights > Meafres, &c. 345 The hi me proved. London draws upon Lifbon or Oporto for the a- foreiaid Sum Sterl. Exchange at 63 d. per Milrea, would know what muft be paid for this Draught in Portugal ? I 2292,2463375 80 Three Pences 2I)l$337 9707000 ( Anfwer, 87320 367 muft be paid in Per- 000 tugal for the laid K*~> Draught. CHAP. XXV. Of Spain In general. THEIR Gold Coins are the Piftols, and the Fractions of the fame. The Piftol is valued at 5 Piaftres, or 5 Dollars of 8 Rials, or at 4 Dollars of 10 Rials, which is at 40 Rials ; and the other Gold Pieces are valued in Proportion. Their Silver Coins, &c. do chiefly confift in Pi- aftres, Rials or Reas, half Reas, Quartiles, and Marvedies. The old Piaftre is valued at 8 Rials, and the New one at 10 Rials of Plate. The Rial is 17 Quartiles, or 34 Marvedies 3 but in their cafting up they do ufually reckon but 1 6 Quartiles to a Rial N. B. Twq 346 Ha y esV Negotiator s Magazine N B. Two Rials of Veillon makes bat one Rial of Plate, and there muft be 16 Rials of Veillon to make one Piaftre of 8 Rials, and 20 to make one Piaftre of 1 o Rials. Of the Spanijh Piaftres, Pefo's, or Dollars, there are fix Sorts, viz. Old Sevil ones, New Sev.il ones, Mexico\ Peru, Pillar, and Crofs Dollars. The Old Sevil ones, and the Mexico ^ ' s' ^' ones, are of equal Value, and bet-. > 1 9 18 c 1 ^per CY, ter than the new Stvil ones about j Than the Peru Dollars, about « 1 17 -r—^perCt. Than the Crofs Dollars, about - 2 06 Q^perCt, And the Pillar Dollars are worth } more than the Old Sevil Dollars > 1 07 0644 p.Ct. and the Mexico Dollars, aJbou! 3 Than the New Dollars - 20 16 nVT p.Ct. Than the Crofs Dollar - , . - 313 —44 />,C/. Than the Old Dollars of Peru - 3 03 ii-~-3 p.CL N. 3. The above Calculations are made accor- ding to the Weight of each Piece, as in Page 215. In many Places in Spain they buy and fell fome Commodities only by Rials Old Plate ; but then they are moftly obliged afterwards to reduce thofe Rials into Rials of New Plate, at fuch a certain Price as fhall be agreed upon between the Buyer and Seller. They keep their Accounts divers Ways, viz. 1. In Valencia, Alicant, Barcelona, Cartagena* and SaragoJJa, they keep their Accounts in the Imaginary Ducat, reckoning as follows, viz. The Valencia Ducat, at 21 Sols, or ic I Rials. The Barcelona ditto, at 24 Sols, or 12 Rial-. The Saragoj]a ditto, at 22 Sols, or 11 "Rials. They Of Martty ) freights \ Me a feres, &c. 3 47 They have alfo had at Barcelona a Crown of 22 Sols of their Money y but this, and the Ducat ( this laft being originally a Flanders Coin) is pretty much worn out of Date. None of the above Places have a constant Courfe cf Exchange to London. 2. In Ca/lillia, and in mofl of the Inland Towns and Cities in Spain, they keep their Accounts in Marvedies, feparating the ioo,,,b from the iooo,hs the fame as they do in Portugal , and for Exchange they make ufe of the Imaginary Ducat of 375 Marvedies. Their Crown or Cruifade of Gold is 400 Mar- vedies. They have alfo an Imaginary Coin, called a Caftilliano, with which they make all their Ex- changes for Caflillia, and is valued at 48 5 Reas. 3. In Madrid, Cadiz, Gibraltar, Malaga, and all the Spanifi Places of Trade in the Streights, Mediterranean, Africa, and the Weft Indies, they keep their Accounts in Piaftres or Dollars-, Rials, Half Rials, and Quartiles, reckoning 1 6 Quartiles to a Rial, and 8 Rials to a Dollar. Their Meafure for Cloth is called a Barra or Varra, which is about 8 per Cent, fhorter than an Englijh Yard. Wine, and other Liquors, are meafured .by a Zambre, containing 4 Quartiles, which makes ve- ry little more than 2 E?iglifo Quarts. Salt is fold by the Fannaque, containing 1 6 Sa- lamines and 12 Salamines is one Fannaque for Corn or Grain. 1 5 Fannaques of Corn is about. 8 Bumels Englijh. Weights for Grocery, &c. 2 Semi-drams is one Dram, 8 Drams is one Ounce, 8 Ounces is one Mark, 548 Ha ye s V Negotiator's Magazine Mark, 2 Marks is one Pound, 25 Pound is one Aerobe, and 4 Arrobes is one Quintal, being be- tween 3 and 4 per Cent, heavier than London Avoir- dupois Weight. Their Weight for Gold and Silver in Duft or in Ears, in the Indies. One Tomine is worth 2 Rials, and the Tomine weighs 1 6 Grains $ a Caftillian is 16 Tomine 4 Grains; 6 Caftillian and 2 To- mines makes one Ounce Marc Weight and the Piaftre (hould weigh one Ounce. Their common Weights for Gold are reckoned 1 2 Grains to a Tomine, 8 Tomines to one Caftil- lian, 64 Caftillians to one Ounce, and 8 Ounces to one Mark. Their Silver Weight. 75 Grains is one Dram, 8 Drams is one Ounce, and 8 Ounces is one Mark, ^London, 1900 Pvials is worth 51 /. Sterl, and one Rial is worth 6-J4 d. Amflerdam. 57 Rials is worth 17 Florins ; fo that one Rial is worth 5 Stivers 1 5-^ Penningens. Antwerp. 1425 Rials for 68/. FlemiJh ; and one Rial at 1 1|4 d. Flemifh. "Dantziek. 94 Rials is 34 Florins •, and one Rial is 1 3TL. d. of Dantziek. Frankfort. 9 5 Rials is 1 7 Florins y and one Rial is JjJ -) 10 Cruitzers 24^ d. of Frankfort. Hamburgh. 95 Rials is 34 Marks and one Rial is 5 Stivers S^d. Lubs. Leipfick. 285 Rials is 34 Rixdollars; and one Rial is 2 Gr. 10 J4 d. Paris. 95 Rials is 34 Livrcs in Specie \ fo that one Rial is worth 7 Sols 14 -J- Pence or Deniers. i mice. 19 Rials is worth 27 Livres-, fo that one h Ri'\J is worth ' 1 7 Sols 44 of Venice. The t o Of Money, Jl eighpsy MeafuresfiCc. 349 The Courie of the SpaniJJi Exchanges in general. Ar. B. Throughout Spain they do allow 14 Days of Grace. f Brabant, Flanders, Holland, Zealand, and Hamburgh, the Ducat of 375 Marvedies for an uncertain Number of Grotes, &c\ London, the Piaftre or Dollar of | for an un- certain Number of Pence Sterling. France, an uncertain Number of Marvedies for the Ecu. Portugal, 100 Ducats for an uncertain Num- ber of Cruilades or Crowns 5 or they give a Piltol for an uncertain Number of Reas. Novi, an uncertain Number of Marvedies for one Crown of Mark. Venice, the fame for one Ducat Banco. Florence, the fame for the Ducat of n\ Livres. Leghorn, the lame for the Piaftre or Dollar. Milan, the lame for the Ducat of 1 1 5 Soldi. Naples, the fame for one Ducat of 10 Carlins^ Palermo and Mejjina, the fame for one Florin V of 6 Tarins. Of the Weights and Meafures in different Parts of Spain. Castile.] Madrid. The Meafure of Cloth, &r. is a Vara or Bara, and 108 Bara's is account- ed equal to 100 Yards in London. In their Weights they reckon 28 Grains to a Dram, 16 Drams to an Ounce, 16 Ounces to the Pound Weight, 25 15 to a Rove, and 4 Roves to a Kintal, which is about 103 i- tb in London. Wine 55° HayesV Negotiator s Magazine Wine and Oyl are fold by the Rove of 4 Gal- Ions EngKJh ; and it is in Spain, as in many other Kingdoms, the Weights and Meafures are not alike in all Places. Granada.] Malaga. In thefe Places the Mea- fure for Cloth, Silk, &c. is the Bara, and is about 32! Inches in Length, and 109 whereof makes 100 Yards in London. Their common Weight is the Kintal of 4 Rove of 25ft to a Rove, and makes in London about 96 lb. Their Wine Meafure is a Rove, which is divided into 8 fmall Meafures, called Zambres, and is in England 4 Gallons, and 3 it of thefe fills a Pipe, which is in England 126 Gallons. Oyl Meafure is the Rove of 25 tt>. Their Corn Meafure is a Fannaque, which is divided into 2 Almodes, accounting about ii Bu- ihels Englif:? Meafure to an Almude, in Weight by Heap 144 ffe, by Strike 99 ib Englifh ; and it is faid, thar 100 Sacks of Granada make 3 Lafts J o Muid of Amfierdam, 64 Sextiers of Paris, and 128 Bufhels of Bourdeaux. V a lenci a.] Alicant. Their Meafure is a Cane, and 75 Yards of London makes about 73 of thofe Canes. Their Weights is the Rove, Kintal, and Cargo ; and they reckon 24 Tb to a Rove, 4 Roves to a Kintal, and 24- Kintals to a Cargo. . The Kintals cf 96 Pounds of 18 Ounces to the Pound makes in London about 108 lb Avoirdupois Weight. All Pepper and valuable Commodities are fold by the Kintal of 120 IB, which is accounted about 18 or 20 per Cent, lefs than 1 12 ife Avoirdupois. Their Of Money, Weights, Meafures, &c. 351 Their Meafure for Com is the Fannaque, whereof 5 makes about 3 Bufhels Englijh. Their Cantar for Wine holds about 2 Gallons Winch ejler Meafure. Biscany.] Bilboa, St. Sebafiians, &c. Their common Meafure is the Barra, 8 1 whereof makes 75 Yards in London ; and 108 Auns their Meafure for Silk makes the fame. They have two Sorts of Kintals; the one is 100 tb, and makes in London about 1 1 1 tb Avoir- dupois Weight ; the other is for Iron, and makes 128 it Avoirdupois Weight Corn is here fold by the Fannaque, 5 whereof makes an Englifi Quarter. An dalusia.] Sevily St. Lucars, Cadiz , Gi- braltar, &c. The Weights of thefe Places is the Kintal, the fame as at Malaga-, and iooifeof London makes about 97 ib of thefe Places. They have two Bara's, the one for Woollen Goods, 8 1 whereof is equal to about 75 Yards in London, and the faid 75 Yards is equal to about 8 3 -I- Bara's for Silk, and 108 Auns for Linen. Oyl is fold here by the Rove, 40 or 4 1 where- of makes a Pipe, 4 Quar tiles is a Somar, and 8 Somars is a Pvove, and a Qoartile is about 4& of a Stoup of Antwerp ; 2 Pipes or 81 Roves is 25 or ib Florence Barrels, or 252 Gallons Englijh*, but upon Sevil Gauge is accounted 236 Gallons in London. Cat alon 1 a.] Barcelona. The Livre or Pound of this Place is accounted and pafTeth current here for 20 Sols, or 10 Rials. Barcelona is a Place of Exchange, and their Ufance is as follows ; To 3 5 i tl a yesV Negotiators Magazine To Antwerp , 30 Days after Date. To Avignon, 1 8 Days after Sight. To London, 2 Months after Datee To Florence, the fame. To Genoa, 20 Days after Date. To jL/0# j, from Fair to Fair. To Placentia, the fame. To Venice, 2 Months after Date. And they do allow 14 Days of Grace : but the Laws of Exchange are not fo much regarded in Spain as in other Places of Exchange. Their Meafure is the Cane of 8 Palms* 43 whereof makes about 75 Yards in London, Their Weight is a Kintal of 100 ib, 3 whereof is a Cargo. Wool is fold by the Rove of 30 ib. 1 00 ib of London makes about 102 lb here ; but it makes about 92 ib of their Wool Weight. Corn is fold by a Meafure called a Quarter, 4 of which makes a Salmo, and 24- Quarters is a Cargo or Load of 360 lb Weight. The Quarter is the fame as the Quarter at London. Examples of the Exchanges of Spain. In Spain there is found fuch a Variation in the Value of their Coins ; that is to fay, The Ducats differ from Ducats, and thofe again differ from the Dollars, and the Dollars differing from the Dollars, caufe fuch a Variety of Differences, that if I was to give an Example of every Particular, it would take up too much room : I fhall therefore give but few Examples of them ; and if the Manner of cafting thofe few up be rightly underftood, the Reduction of any others will not be found difficult. A* Of Money ,/> ''eights yMeaf//res)&Cc. 553 As for Example. A Merchant fells a Parcel of Goods, amount- ing to 47367 Rials, which, by Agreement, he is to be paid in Rials Plate. Suppofe at 1 q-l per Cent. Advance upon the abovefaid Royals, the Query is, How many Dollars of Sevil muft the Merchant receive ? 47367 1 194. 5636673 23683 4 56603156 4 7 [16 9l°4 Rials. Qrs. 8 ) 56603 9 of Sevil The Merchant is to receive 7075 Dollars 3 Rials, 9 Quarts of Sevil. In Valentin^ or Alicant^ a Merchant fells a Par- cel of Goods for 1954 Dollars 5 Rials, for which, by Agreement, he is to receive in Checkeens, at 2 Dollars 3 Rials per Checkeen. The Query is, How many Checkeens muft be received by the faid Merchant for the Dollars, &c. abovementioned ? The Price 2 Dollars, 3 Rials *954 5 8 8 * Checks. — » *S>) I5637 (&23 I5637 00 Anfwer, The Merchant muft w receive $23 Checkeens A a, Cadiz 354 H a Y E s V ISegoctator s Magazine Cadiz remits to London '7075 Dollars 3 Rials 5 Quarts, at 41 \ per Dollar, to know what this Remittance, will amount to in Lojidon t Dollars Rials Qrs 7°75 3 5 Mult, by - - 414- the Price 283016 4 8 3537 5 ?<4 32)293629 5 7i 2]o)2446l9 1 Anfwer, 1223/. 9 s-. ~d< - Sterl. muft be received 1223 9 ~ in London. Spain is indebted to London 432 w 932 Marve- dies, Exchange at \^-d. per Dollar. The Query is, How much Sterling the faid Marvedies will amount to ? Dollars. Dollars s. d. 272 ) 432932 f I591 l3 2t 34Mkrv. Multiply by - 454 8 Rials. 180 20 s. 14324 19 o-J. 272 272) 3600 (13 71624 15 $ 64 198 19 1^ 12 1 . _ 272)768(2 12)7^23 14 5i 224 2j0) 59815: 03 4 — p+ ■172 ) 896 SO 299 5 3 i Sterl. the Anfwer Examples Of Money ^ freights, Mea fares, &c. 355 Examples of Simple Arbitrations. A. of Barcelona orders B. of Sevil to remit to C. of Placentia 3000 Crowns Marks, at 413 Mar- vedies per Crown : and B. has likewife Orders to revalue himfelf upon A. at 93^ Ducats. Whfen this Order came to A. he found Money for Bar- celona at 93 Ducats, and Bills for Placentia at 413 Marvedies per Crown. Now the Query is, If at thefe Rates the Commiffion could be performed^ the Provifion 4 per Cent. 3 — 93i 2 i Marv. 187 415,22 413 1,66 186) 77231 (Anf.413,56 283 971 410 380 So that this Commiffion may be effected with Profit ; becaufe that upon Barcelona at 93 it may be remitted to Placentia at ^\^-s4oi and their pre- fent Bills at lefs, by reafon it may be done at 413 Msr^edieSo If 93 — 41 2 186 415,22 2 5 ) 8,3044 1,66 3 5 6 HayesV Negotiators Magazine Again, C. of Placentia orders A. of Barcelona to remit to him the faid C. at io8~ Ducats for ioo Crowns Marks, and to revalue himfelf upon C. at 23 Sols per Crown Mark for 3000 Crowns. Now there is found Bills for Valentia at 107 Ducats. The Query is, At what Price may the Draughts upon Vafaitia be made, in regard to the Lofs by the Remittance ? Ducats. Sols. Ducats. If 107 — 23 — 108^ 4 4 428 433 — T 23 428) 9959 (234. Sols, the Anfwer, at 1399 no can it be made, ^5 CHAP. XXVI. Of Franc e . ACCOUNTS are kept throughout this Dominion in Livres, Sols, and Deniers, reckoning 12 Deniers one Sol, and 20 Sols one Livre, or Frank. Their Coins are as follow: In Gold.] A double Lewis d'Or, the intrin- fick Value whereof is 22 Livres ; but it has palled current amons them for 28 to Livres. A Of Money, freights, Meafnres, &c. 357 A iingle Lewis d'Or was alio coined for 1 1 Li- vres, and has rifen and fallen in die Price the fame as the double one. The firft is what they call a double Piftol, and the latter a fingle one. In Silver.] A Crown, the intrinfick Value whereof was 3 Livres, or 60 Sols ; but it has and does now pafs current at a much higher Rate. This Crown hath its Fractions, viz. i according to the firft Value is 1 Livre 10 Sols. 4 is called a Frank, and is 1 Livre. 4 Crown is 1 5 Sols. Frank is 10 Sols. ~ Frank is 5 Sols. They have alfo a little Piece, called Une Petite Piece, which goes current for 4 Sols. In Brass and Silver.] There is only the Sols coined, of which there are two Sorts (though there is no Difference in the intrinfick Value) an Old one and a New. The old one has pafTed for 12 Deniers, and the other for about 15 Deniers, and for no other Reafon than becaufe the Stamp of the one appears more plain than that on the other. In Copper.] A Liard or Farthing, being j; of a Sol, or 3 Deniers. A Double, of twice the Value of a Denier, and fometimes parTes for a Liard. A Denier or Penny, being Tt of a Sol. N. B. The Denier is only current in the fouth- ern Parts of France, there being none of them ta be feen on this fide Poitiers, which is about 50 Leagues beyond Paris. And further, no foreign Piece of Gold nor Sil- ver is current in France, unlefs the fingle and dou- A a 3 ble 358 Have sV Negotiator' 's Magazine ble Piftols of Spain, which have pafled there for 1 2 or 13 Livres ; and in fome of die Provinces of this Kingdom, the People are fo little acquainted with any Sort of Money, that when Strangers hap- pen to pafs, and have no French Money about them, thefe People do neither underftand, nor will they accept of any foreign Money at any Rate. But in any Town of Trade there are Mer- chants and Brokers that deal in Exchange, and un- derftand foreign Money, who will give a pretty reafonable Rate for it -y and my Author fays, that he has feen 3 Livres 1 6 Sols given for an Englijh Crown Piece, and proportionable for the leffer Pieces of Silver. However, in Paris, and many ether Cities in France y no foreign Pieces of Gold or Silver are furfered to pafs current, but muft be carried to one of the Mints (of which the King has many eftabliihed about this Kingdom) to be melted down, and changed for the Money or Coins of France, which at moft Times is done at a very great Lofs to the Owner. The Merchants and Traders in France y to fave the Trouble of telling their Silver, Copper, andN Brafs Money, do generally put it into Bags -y viz. Crowns, Half Crowns, and -J Crown Pieces, are for the moft Part put into Bags of 2000 or 3000 Livres, allowing about 5 Sols per 1000 Livres for the Bag. The fmaller Pieces of Silver, and the petty Pieces, are put into Bags of 100 Livres, and fometimes of 200 Livres apiece, detaining the Va- lue of a petty Piece for the Bag, and frequently 6 Sols. The Sols are likewife put up in Bags of 100 Livres, more or lefs, and allow 2 Sols per ( If Monefy Weight Meafuresy &c. 359 The Quarter Sols, Liards, or Doubles, are put into Bags of i o Livres, and do allow one Sol per Bag ; and if there be above that Sum in the Bag,, they do allow 2 Sols for the Bag. As for the De~ niers, they roll them up in Papers of 4, 5, or 6 Sols in a Roll -> but thefe lad: Pieces are feldom to be met with, unlefs among the poorer Sort of People. In great Dealings, the Merchants in making their Payments, do only weigh the Bags, and if the Re- ceiver finds bad Money in the Bag, when he comes to open it, the Payer makes it good ; but if there mould be a Deficiency in the Sum, it muft be chal- lenged at the Scale, otherwife 'tis not recoverable. The Weights of Paris. 2 Seconds is one Prime, 2 Primes is one Grain, 24 Grains is one Penny- weight, 3 Pennyweights is one Dram, 8 Drams is one Ounce, 8 Ounces is one Mark, 2 Marks makes one Pound, 100 ib is one Quintal, and 10 Quintals is one Millier. 1 1 2 ib Avoirdupois in London is a little more than iooitb of Paris > and the Weights of Paris are 1 \ per Cent, heavier than thofe of Amjlerdam 5 that is to iky, 100 fb of Amjlerdam weighs 98 ^ T5 of Paris, and 100 lb of Paris weighs 10 17 lb of Amjlerdam. The Corn Meafure of Paris. 4 Litron is one Peck, 4 Pecks is one Buihel, 3 Bufhels is one Mi- not, 2 Minots is one Mine, 2 Mines is one Sex- tier, and 12 Sextiers is one Muid. But for Oats, they reckon 24 Bufhels to oneSextier, and 12 Sex- tiers to one Muid ; and 19 Sextiers of Corn is reckoned to be equal to about 107 Quarters of London, or 27 Muids or one Laft at Amjlerdam, and the Sextier of good Wheat weighs betwixt ^44 2nd 248 It) Mark Weight, A a 4 Orleans,] 360 Hayes'/ Negociators Magazine Orleans.] The Muid of Orleans ought to weigh oib Weight, and is compofed of 12 Mines, equal to 2i Sextiers of Paris, or 5 Bu- fhels of Bourdeaux. The Afhnec of Macon makes if Sextiers of Paris, and 37 Bumels of Bourdeaux. At Avignon, 5 Buihels makes 3 Sextiers of Pa* ris, and 6 Buihels of Bourdeaux, At Cajires they reckon 1 6 Bumels an Emine, 2 Emines is a Sextier. The Sextier weighs about 200 ib Weight of that Place, which is about 170 lb Mark Weight; and 100 Sextiers of this Place makes 4 Lafts of Amfterdam. At Abbeville the Sextier is the fame as that of Paris. At Bohgn a Sextier weighs 270 ib Weight, and 8 Sextiers of Bohgn makes 5 in Paris. The Sextier of Paris renders in the following Places, viz. At St. Valere, 1 Sextier. At "Tours, 14 Buihels. AiDiep, 18 Mines. At Blcis, 20 Buihels. At Havre de Grace, 5-J Bulh. At Aubeterre, 5 Bufhels. At Amboife, 14 Bufhels. At Barbefieux, 5 Buihels. At Saumur, 14 Buihels. At Periqueux, 5 Buihels. The Sextier of Aries weighs only 93 ib Mark Weight, and the Load 360 ib of that Country. The Load of Beaucaire is 2 per Cent, greater than that of Aries. The Load of St. Giles's is 18 or 20 per Cent* greater man that of Aries, The Load of Tarfcon is 2 per Cent, lefs than that Of Arks. The Tun of Auray in Britany is reckoned 2200 ib, of Audierne 2300 lb, of Brejl 2240 lb, of Port Lewis the fame3 and of Quinpercorentin the fame, Of Money, Weights^ Meafures} &c. 361 fame. Of Nants it is compofed of 10 Sextiers, the Sextier of ioBufhels; the Meafure being heaped, it weighs between 2200ft and 2250Tb, but when itisftriked, it weighs 18 or 20 per Cent. lefs. Salt Meafure at Paris. 16 Litron is one Quarter, 4 Quarters is one Minot, 4 Minots is one Sextier, and 10 Sextiers is one Muid of Salt. So that all over France it is fold by the Muid, which is greater or leffer according to the Cuftom of the Provinces where it is made, and where it is fold. In Marenne in the Ifle of Rhe\ and other Places in France, where Salt is made, they fell it by the Hundred, which they divide into 28 Muids, and every Muid into 24 Bulhels ; and the Hundred commonly makes in Amjierdam 11 4- Lafts, or 23 Tuns. And the Muid of France renders about 4^ Quar- ters of London Meafure. At Bourdeaux the Muid renders 42 Pipes, or 252 Sacks or Minots. The Minot commonly weighs 240 lb Mark Weight. But the Salt that is made at Brouage, and in the Ifle of Rhe\ is heavier than that of Marienne% *Trembladt\ and Oleron. The Hundred of Brouage, the Ifle of Rbe, &c. renders 1 ii or ui Lafts, which weighs about 45 or 46000 Tb of Amjierdam Weight. At Copenhagen it renders 9- Lafts, or 19 Tuns, At Kon'mgjburg it renders about 10 Lafts, or 40000 ib Weight. At Riga, 1 o Lafts. At Dantzick it will render 1 and fometimes 12 Lafts, yi or 74 of which makes the great Him- dred of Amjierdam. AxStetin, 10 Lafts3 or 40000 lb Weight Charcoal $6z Ha yes V Negotiators Magazine Charcoal Meafure ufed by the Merchants. 2 Li*- tron is one Peck, 4 Pecks is one Bufhel, 8 Bufhels is one Minot, 2 Minots one Mine, and 1 6 Mines one Muid ; but by the City Meafure 20 Mines go to a Muid. Sea Coal Meafure. 4 Litron is one Peck, 4 Pecks is one Bufhel, 6 Bufhels is one Minot, and 15 Minots is one Voye, Lime Meafure. 3 Bufhels is one Minot, and 48 Minots is one Muid ; or 3 Bufhels is one Sack, and 36 Sacks is one Muid, Wine Meafure. 4 PofTons is one Demi-fextier, pr Pot, 4 Pots is one Chopin, 2 Chopins one Pint, 2 Pints one Quart, 4 Quarts one Sextier, 36 Sex- tiers is one Muid of clear Wine • or one Muid con^ tains 3 half Hogfheads, or 3 Fuillets, or 300 Pints, with the Lees. 3 Muids is a Pipe or Fat. The faid Muid is here alfo divided into Pipes or Pun- cions, Quives, and half Quives. Silk, or Linen and Woollen Meafure is the Aun or Ell of Paris, which contains 3 Foot 7 Inches of their Pie du Roy, and is divided as that of Eng- land and other Places are, into f , ~, i, Sfft And 100 of the faid Ells makes 205-i Auns of Ham- burgh, 213 ditto in Brejlaw, i66t in Brabant, 1284- Yards in London , 13 64- Varas in Spain, 1 71 Cavidoes in Portugal, 175 Brace in Venice, 199I ditto in Leghorn and Florence. In Rochel, Bour- deaux, and Nants, they ufe the Paris Ell ; but that of Lions is 1 per Cent, fhorter. The Tois for Building contains 6 Feet, the Foot is 12 Inches, the Inch is 12 Lines, and the Line is 1 2 Points. For Champaign Wines,, 48 S^xtiersis one Hogd, Of Money 7 JFclghts^ Men j mesy &c. 363 Tholouse, Mont pell 1 er, £•?<:. ] They mea- fure by a Cane of 8 Palms; and joo Canes of Montpellicr makes about 199- Yards in London y and 206-j Auns in Amjlerdam. Brandy is fold here by the Quintal, or 100 T5 Weight, with the Calk. The Muid for Wine of Montpellier, and feyeral other Places in Languedoc, contains 18 Sextiers, and the Sextier 32 Pots, and is equal to 3 Vicompt Weight makes iooifc of Mark Weight, or 1 1 o ifc of Paris Weight. This laft is only to be underftood in the weighing of Wool, or elfe 100 tt> Mark Weight weighs but 104 th Vicompt Weight 5 and they weigh with no lefs than the 52, 26, and 1 3 lb of the Vicompt Weights, all leffer Quantities are weighed by the Mark Weight, iooib Vicompt is about 113 J- lb Avoirdupois in L/mdon. Their Corn Meafure is a Muid, containing 12 Sextiers, and makes in London about 74 Quarters. Tholoun and Provence.] The Oyls o( Pro- vence are here, and throughout all Provence, fold by an Imaginary Florin, valued at 12 Sols Tour- riots ; and they are ufually bought by the Milroe, or Milrowl, whereof 14 are reckoned to a Tun, or 252 Gallons. Their common Meafure is the Scandal, which has been found to hold 44 Gallons Winchefter Meafure, and to weigh 31 4- lb Avoir- dupois Weight ; and a Milroe is about 18 Gallons, 2 Milroes is a Charge, and 4 Charges is a But, or half a Tun, or 126 Gallons, and has been found to make 1008 lb Avoirdupois. Their Meafure for Linen and Woollen is the Cane of 8 Palms, and 100 of their Canes makes' 214-i- Yards in London. Their Weight is the Quintal of 100 lb, of 16 Ounces, and 3 Quintals is a Cargo; 100 lb Avoir- dupois of London makes 113 lb of their Weight. Their Wine Meafure is the abovefaid Milroe, fajd to hold 66 Paris Pints. Almonds are fold by the Cargo of 300 lb. Goto OfMo'fiey, ffreight sy Mcnfitres, &Cc. 367 Corn is ibid by the Muid, Minot, and Load, reckoning 24 Minots to a Muid, and it is reckoned that about S4- Quarters Englijh will make the faid Muid. The Load is compofed of 3 Sextiers, and if Emine is a Sextier ; 3 Emines makes 2 Sextiers of Paris, or otherwiie they do reckon the Bufhel to weigh 3 1 lb, and that 74 Bufhels makes one Paris Sextier, fo that 3 Emines at Tholoufe makes 3 Muids of Ainflerdam, 2 Sextiers at Paris, and 4 Bufhels at Bordeaux . Marseilles.] In their Weights they reckon 16 Ounces to the lb, and it has been found that 113 lb Marfeilk Weight makes in London about loo lb Avoirdupois, and 100 of their Canes in meafuring makes about 214Y Yards in London. Marfeilk is a great Place of Exchange, and they have a Correfpondency with Smyrna, Aleppo, Con- jtantinople, Perfui, and other Places in Ajia. They commonly fell the Levant and Turkey Goods by the Load or Cargo of 30c lb of their Wt. Corn is fold here by the Load of 4 Emines, the Load weighs 300 lb Marfeilk Weight, or there- abouts, and makes 243 lb Mark Weight, and 100 Mark Weight makes 12 yi lb Marfeilk WHght; and the Load of Mar fei lies makes about 4t Bufhels in England, ii Muid in Amjlerdam, 1 Sextier of Paris, and 2 Bufhels of Bonrdeaux. Calais.] Their Meafure is the Aun ; and they have three Sorts of Weights. The hrft is the Town Weight, 100 lb whereof makes about 92 lb in London. The fecond is called the Merchants Weight, of which ice lb makes 1 13 lb in London. The 368 Hayes'j Negotiator's Magazine The third is called the Englijh Wool Weight, and is about 3 per Cent, lighter than the Town Wt, Of their Corn Meafure, 12 Sextiers of Calais makes 13 Sextiers of Paris, 20 Bufhels of Bour- deanx, 1 8 Muids of Amjlerdam, and fome thing lefs than 7 Quarters of Corn London Meafure. Of the French Weights in general. The Pounds of Mark is well known to the Goldfmiths in France, it being ufed in weighing Gold, Silver, and other fine Goods. The Pounds of Table is ufed in weighing of grofs Goods, and is found to differ in feveral Places in France from the Mark Weight, 18, 20 or 25 per Cent; that is to fay, it is fo much lighter than a Pound of Mark, efpecially in Provence, and in Upper or Lower Langnedoc, for 1 6 Ounces of the Pound de Table makes but 14 Ounces of the Pounds of Mark. And the Marfeille Weight is lighter than thofe of Rochel, between 23 and 25 per Cent. What they call a Quintal in France mud be un- derftood the hundred Weight of 1041b, and an half 52, the Quarter 26, and the half Quarter 13Tb Weight. In fome Places a difference is made between 1 00 it) Weight and a Quintal, therefore the Buyer and Seller muft explain themfelves upon this head in making of Bargains ; at Roan they have another Sort of Weight called the Pounds de Vi- compt, or Vicount; and 100 lb of this Vicount Weight is counted to make about 108 lb or 1 10 lb Mark, or Paris Weight, efpecially in weighing of Wool ; but in weighing other Things the faid 100 lb is counted 1041b Mark Weight. They have no lefs weight of the Vicompt Weight than 131b, fo that all Goods weighing under that Weight Of Money > IP 'eights, Men fares, &c. 369 Weight are weighed by the Mark Weight. They have another Sort of Weight ufed in France, called the Roman or Statera Weight, uied moftly in Languedoc, which is much the fame for Weight as the Table Weight. Of the Aims and Canes of France. 100 Canes of Marfeillcs and Montpellier are 286 Aims in Amjlerdam. 100 Canes of Tholouje are 2664 in Ditto. loo French Ells are 2057 in Hamburgh, 213-I. in Brejlaw, 1 664 in Brabant, 1 3 6^ Baras in Spain y lyi Cavadoes in Portugal, 1284 Yards in London, 175 Brace in Venice, 1994 ditto in Florence and Leghorn. N. B. The French Ell is about 2\ per Cent, longer than an Englifi Ell. r London. One Livre in Specie is worth 1 3 Pence Sterl. or one Crown, 4 s. 6 d. Sterl. Amjlerdam. 6 Livres is worth 5 Florins. Ayitiverp. 1 5 Livres is worth 2 Pounds Fie- mifh j fo that one Livre is worth 2 s. 8 d. Flemifh. Spain. 34 Livres is worth 95 Rials Old Plate ; fo that 1 Livre is worth 2 Rials 27 Marvedies. I / Dantzick. 1 Livre is worth 1 Florin of Da?itzick Frankfort. Two Livres is worth one Floria of 60 Cruitzers ; fo that one Livre is worth 30 Cruitzers. Hamburgh. 1 Livre is worth 1 Lubifh Mark. Leipjick. 3 Livres is worth one Rixdollar; fo that one Livre is worth 8 Groffes. Venice. One Livre is worth 2 Livres 1 5 Sols of Vefiicd K ^ B b Of ! CD C s u 376 H A Y esV Negotiators Magazine Of the Courfes of the Exchanges of France. N. B. All France in general do allow 10 Days of Grace ; but when Bills are drawn at Sight, they are payable the fame Day. / 'London , the Crown for between 30 and 40 Pence Sterling. Holland, ditto for between 60 and 80 Grates. Hamburgh y ditto for between 20 and 30 Sols Lubs. Frankfort, ditto for 60 to 75 Cruitzers. Augjburg, ditto for 60 to 70 ditto. Hanover, Nawnburg, Leipjick, 100 Crowns for between 90 and joo Rixdollirs. Bolzano, one Crown for 80 to 90 Cruitzers. Vienna, ditto for 70 to 80 Cruitzers. Copenhagen and Norway , 100 Crowns for 82 more or lefs Rixdollars in Dcnijh Crowns. Venice, 100 ditto for 70 to 80 Ducats Banco. Leghorn, 100 ditto for 60 to 80 Dollars ; or one Crown for 30 to 40 Sols. Lucca, 100 ditto for 40 to 70 Dollars of 74 Livres. Genoa and Novi, 70 to 90 Sols Tournois for 1 Dollar of 5 Livres, or 220 to 260 Crowns for 100 Dollars, alias Crowns Marks. Milan, one Crown for 70 to 90 Sols of Milan. Naples, 100 Crowns for 70 to 100 Ducats of 10 Carlins. Spain, one Crown for 230 to 290 Marvedies. Portugal, one Crown from 600 to 700 Reas ; and in the like manner as above, they ex- change in all Places in this Kingdom. * Examples > I Of Mouej ;y Weights, Mcafures, &c. 371 Examples of the French Exchanges. Paris owes to London 8372 Livres 14 Sols 10 Deniers, and accordingly remits the faid Sum to London at 3 1 1- Sterling per Crown, what will this Remittance amount to in Sterling ? d. Livres. s. d. Livres. s. d. 3° t ^372 '4 10 or thus : 8372 14 10 514-muk. 1046 11 ioi It ttt 52 06 07 251182 05 — 4186 07 05 3) 1098 18 05^ 12)263741 07 03 Sterl. L. 366 06 01A 20) 2197,8 p$ 3 ) 1098 18 05 Anfwer, L. 366 06 oi^Sterl. mud be paid in London. Mdrfeiiles remits to London 47329 Livres 10 Sols 6 Deniers, Exchange at 27 Livres 10 Sols per Pound Sterling and would know how much Seer- ling Money the faid Remittance will amount to in London ? Liv. s. Livres. s. d. 27 10 47329 10 °6 Mult, by 40 ^40 half Sols. 1 1 co half Sols 1893181 half Sols. Divide by 1 1 loo ) 18931,81 The remaining l s amounts to about 1 s, Anfw. Sterl. L. 1721 T^o- sH more. B b 2 By 3 7 z Ha yes\t Negotiators Magazine By Decimals it is done thus : 27>5)47329>525 (Anf. 1721,073 or 1721/. 1;. 5*.*/. ^75 275 8605540 46468971 proved 47329,525 Livres 47329 10 6 Of Simple Arbitrations, Rome is indebted to Naples 2000 Eftampe Crowns ; and accordingly Naples orders Lions to diaw upon Rome for the faid Crowns at 85 Crowns, and to remit the faid Sum to Naples at 126T Du- cats for 100 Crowns: But when this Commiffion arrived, Lions could get Bills at 1254. The Que- ry is, How muft Lions draw upon Rome, and al- low \per Cent, for Provifion, &c. to perform this Commiffion ? Ducats. Ducats. Crowns. If ll&i — 1254 — 85 6 6 759 752 85^ 759 ) 63920( 84,216 or 84 Cr. 4s. 34 d. Lions muft draw 56 upon Rome at 84 Cr. w 4 s. 34 d. per Cent, the Anf. being what Lions muft draw at upon Rome. To Of Money y Weights^ Meafuresy &c. 3 73 To prove this Qjeftion, fee the following Operations : Firft, at the com- 7 Crowns. Crowns. Crowns. mi/Honed Price. J If 85 - 100 - 2000 Crowns. 85 ) 2000CO ( 2352,941 2 remains 44 : iZ£3 2 The Provifion 9,411 deducted, The Remainder to be remitted to Naples is 2343,539 Crowns. 2964,56418 Ducats at - - i26f Duc./^r 100 mull be remitted toXa- pies, according to the 295284654 Commifiion at 85 to 1171764 Rome, and i264-toAr499 deduft. and to draw at 85, the Remit- tance amounts to 2964 Ducats Crowns2 3 65, 3 45 1 1 s. 3^d. At - 1 25f Ducats And to remit at 125-7, and to ^erIQQ draw at about 84 Cr. 4s. it 29566S125 amounts to 2964 Du. 1 1 s. 3-i-d. 4 78844S So that the Commifiion may be • performed according to the two 2964,56573 Due, laft Courfes •, that is to lay, at ■— — 125-i, and 84,216 per Cent. Bb 3 Of 3 74 Hate sV Negotiator s Magazine Of Compound Arbitrations. P^ra remits to his Correfpondent at Atofterdam 8453 Crowns by the Way of the following Places, viz. to London at 3 5 d. per W. from thence to Rome at 65 d. Sterling per Crown Stampt ; from thence to Venice at 100 Crowns Stampt for 120 Ducats Bank; and from thence to Leghorn at 100 Ducats for 100 Dollars; and from Leghorn to Am- fterdam at 73 Grotes per Dollar. The Queftion is, How many Gilders Banco muft be received, the Provifions and Charges being included ? If x i W. - - 35 I Sterl. | 7 13 6$d. Sterl. - x 1 Stampt Crown 5 100 St. \V. 120 Ducats I 6 .v 100 Ducats x 100 Dollars, 1 Dollar 73 Grotes, How many Grotes will 8453 Crowns amount to ? Multiply by 73 617069 6 *3 37024*4 5 7 65 ) 25916898 ( Anf. 398721 Grotes 410)3987211 ^| Gilders 9968 o 1 Grote the faid 8453 Crowns amount to in Amfterdam. Turin, Of Money, Wetghts> Men [arcs, 8Cc 375 Turin, Savoy, &c] In thofe Places they keep their Accounts as in Pans ; alio in buying and felling they reckon by Florins, Sols, and Quartiers, reck- oning 4 Quartrins to a Sol, and 12 Sols to a Flo- rin, which is imaginary, and is worth about 6 Sols of France, the fame as in Geneva. Their Coins are, a Savoy Piftol of 1 3 Livres ; a Ducattoon, valued at 84 Sols, or 7 Florins ; and a Crown at 3 Livres. They have more French, and other foreign Monies, than they have of their own. Their Meafure for Woollen Cloth and Silks is the Ras, which is about 23 Inches in length. And 100 lb of their Weight makes about 82 lb in London, CHAP. XXVIL Of Italy, and the If and s thereof and ^'Turkey m Europe. TH E Coins of Italy not being all alike, but every City and Place having a particular Coin and Species current among them- felves, I fhall therefore treat of the Particulars in moft of the Places, one after another, and will not trouble the Reader with a general Account of the fame. Sect. 3 7 6 Ha yesV Negotiators Magazine Sect. I. Of Milan. ACCOUNTS are kept here in Livres, Sols, and Deniers, reckoning, as in Pounds, Shillings, and Pence, 1 2 Deniers to a Sol, &c. They dp commonly in Exchange make ufe of Ecu's, or Crowns of Exchange, and Current Ecu's, they being both imaginary ; the Ecu of Exchange makes 1 1 7 Sols, or 5 /. 17 s. and the Crown or Ecu Current is 1 1 5 Sols, or 5 /. 1 5 The Species, or Current Coins of Milan. The Italian Piftol goes at 22f or 23 Livres. The Spanijh ditto, between 19 and 21 Livres. The Milan and Savoy Ducat, at about 5 Livres 1 5 Sols of Exchange. The Philip, or Ducat of Spain, at 6 Livres. And they have among them many fmaller Pieces, N. B. The Current Money of this Place is called Imperial ; and the Bank Money, de Ova. Their Meafure for Cloth and Silk is a Brace, whereof 1 60 for Linen, and 188 for Silk have been found to make 100. Yards in London, Their Weight is a Quintal of 100 lb, of 12 Ounces to the lb ; and 100 Avoirdupois in London has been found to weigh 1 37 Tb of their Weight. The Ufance of Milan. To London, 3 Months after To Barcelona, 20 Days Date. Sight. To Paris, 2 Months, To Montpellier, ditto. To Antwerp, 2 Months. To Lions, from Fair to To Pi/a and Venice % 10 Fair. Days Sight. To Genoa. 5 Days Sight. The Of Money \ Weights, Meafures, &c. 377 O > The Courfe of the Exchanges of Milan. 'London, one Ducat for 40 to bod. Sterling. Spain, one ditto for 300 to 400 Marvedies. Venice, ditto for an uncertain Number in Sols. France, an uncertain Number in Sols for one Crown Tournois. Florence, ditto for the Crown of ji Livres. § I Genoa, ditto for one Crown of 5 Livres. Novi, ditto for one Crown Mark. Rome, 100 Crowns for an uncertain Number of Stampt Crowns. Milan exchanges with many other Places not mentioned above. Sect. EL O/Genoa. IN Genoa they keep their Accounts in Livres, Sols, and Deniers > or in Dollars of ico Sols. The Coins current in Genoa. A Venetian Piftol, if of weight, goes at 18 Li- vres 1 6 Sols. A Half ditto, called the Crown d'Or, or of Mark, or Gold, at 9 Livres 8 Sols. The Piftol of Italy, at 1 7 Livres 1 o Sols. A Genoeje Croifade, or Crown, Piaftre, or Dol- lar, at 5 Livres. A Gold Crown Imaginary, at 4 Livres 1 o Sols. The common Dollar or Ducat, at 4 Livres. A Scuda, or Crown de Ova, from 3 Livres (J Sols to 5 Livres, A Spanijb 378 Hayes V Negotiator s Magazine A Spanifh Dollar, as 3 Livres. A Roman Teftoon, at 1 Livre 16 Sols. A Roman Rial, at 7 Sols 6 Deniers. 1 2 Deniers is one Sol, 4 Sols is a Chavelet, and 5 Chavelets, or 20 Sols, is a Livre. Their Exchange is made upon the Crown or Dollar of 5 Livres de Ova or Banco. The current Livre is valued at 1 2 Pence Sterling. Their Meafure is a Cane, and that is of divers Sorts, viz. For Woollen, the Cane contains 9 Palms; another for Linen containing 10 Palms; and a Brace of 27 Palms for Silk. 8 Genoefe Canes have been found to make 15 Ells in Lions. 100 Genoefe Canes makes 328 Ells in Holland, Yards in London , 392 Ells in Leipjick, 438 Ells in Br e flaw, and 367 in Dantzick. Their Weights are as follow, viz. 12 Ounces to a Tb, 1 8 Ounces to a Rottello, 25 lb to a Rove, and 6 Roves to a Quintal, 100 tb of Genoa makes in Holland 664- tb, in JJcns 77^ tb, in London 73 lb, in Hamburgh 68 tb, in Frankfort 64-r tb, in Leipfick 70 tb, in Leghorn 964 'b, and in Venice i io-J-tb, The Genoa Weights for Gold are reckoned thus : 24 Grains to a Denier, 24 Deniers to an Ounce, 8 Ounces to a Mark, of which 130 makes about 100 Pound Troy Weight. And 100 tb Troy Weight is equal to 8 64 lb of their Weight for Silver, wherein they do reckon 1 2 Ounces to the tb. They fell their Wine by the Miferold, reckon- ing 2 Barrels to a Miferold, and 5 Miferolds makes a Botta Divina, which \% about 100 Pints. Corn Of Money freights, Meafures, &c. 379 Corn is fold here by the Mine, 20 Mina's makes a Tun of 40 Bufhels Winchejler Meafure. Oyl is fold by the Barrel, 14 whereof makes a Tun of 236 Gallons of London Civil Gauge, The Ufance of Genoa. To London, 3 Months af- To Gaietta, 10 Days. ter Date. To Milan, 5 Days Sight, To Lions 1 from Fair to To Naples, 1 5 ditto. Fair. To Paris, 10 ditto. To Avignon, 1 5 Days Sight. To Rome, 1 o ditto. To Barcelona, 30 Days. To Valencia, 20 ditto. To Florence, 8 Days. To Venice, 1 5 ditto. The Courfe of the Exchanges of Genoa. N. B. They do allow 30 Days of Grace. f London, the Piaftre of 5 /. for 40 to 60 d. SterL Amfterdam and. Antwerp, ditto for 80 to 100 Grotes. Spain in general, ditto for 4 to 500 Marvedies. Portugal, ditto for an uncertain N°. of Reas. Geneva, ico ditto for 100 more or lefs Crowns. Venice, the Crov/n of 90 Stivers for an uncer- tain Number of Sols of Venice. \ Milan, ditto for an uncertain Number of Sols of the Empire. Rome, an uncertain N°. of Sols for the Crown, Paris, the Piaftre for an uncertain N°. Sols or at fo much per Cent. Piaftres againft Crowns. Leghorn, an uncertain Number of Sols for the Dollar of 6 Livres. Naples, ditto for the Piaftre or Dollar of 9 Tarins, Sect. CO > 'So j o 3 8 o Ha yesV Negotiators Magazine Sect. III. O/Novi. "T N Novi they keep their Accounts in the fame Way as they do in Genoa ; and the Money, Weights, Meafures, and Exchanges being the fame, I fhall refer the Reader to Genoa for the fame, and fhall only take notice of the four Fairs which are kept there annually. The firft is called Candlemas Fair, and begins on the firft of February. The fecond is called Eajier Fair, which begins on the fecond of Mav. The third is called Augufi Fair, which begins on the fourth of Augiijl. The fourth is called All Saints Fair, and begins the fecond of November. Thefe Fairs are alfo obferved in Genoa , and they commonly hold 8 Days each, and are fometimes prolonged when the Affairs of the Exchange re- quire it. Sect. IV. Of Venice. THEY keep their Accounts in Livres, Sols, and Deniers Picoli or Current, reckoning 12 Deniers to a Sol, and 20 Sols to a Livre. But in the Bank, or the Bankers, keep their Accounts in Livres, Sols, and GroiTes, reckoning 72 Grots to a Sol, and 20 Sols to a Livre, and every Livre they value at 10 Ducats Banco, or 12 Ducats Current. So that the Ducats are of two Sorts ; the Bank Ducats are Par with 52 Pence Sterling ; and the Ducats. Of Money y freights, Meafuresfitc. 381 Ducats of Picoli, or Current, are Par with 40 Pence Sterl. or thereabouts. The Ducat Banco is valued at 6 Livres 4 Sols, or 124 Sols Picoli, or 24 Grofles. The Current, or Picoli Money, is what is ufually bargained for in buying Goods and Merchandize, and is 20 per Cent, worie than Bank Money. The Current Money of Venice. t-ivres. Sols. A Venetian Piftol, or of Florence, Spain, ? and the French Louis d'Or pafs for j 9 The heavier Sort at about - - * - 30 00 A Piftol of Italy, Genoa, Turin, Milan, j g Q0 Parma, Mantua, and Geneva, about j A Chequen, or Checkeen, about - 17 00 An Hungarian or Gold Ducat, called \ , Hongre, at ------ 3 A Ducattoon at about - -- -- 8 10 A Silver Crown at - - -- -- 9 12 A Silver Ducat at----- - 6 04 A Genoa Croifade, called Genocins, is 7 , . ■ill'* valued from 1 1 Livres 1 o Sols to 3 ^ A Milan Philip at - -- -- - 8 10 A Teftoon at - -- -- -- 2 14 f ditto, called a Jule, at - - - - o 18 A Livre Picoli is worth about qd. Sterl. or o 20 A Sol - -- -- -- - 12 Deniers. There are two Banks in Venice. In the one, Money is paid in Current, and the other in Bank Money ; this laft Money being always reckoned better than the former by 20 per Cent, which is the eftabliflied Agio. The laft of thefe two Banks is accounted one of die moll confiderable in Europe, having a Fund of fome 381 Hayes'/ Negotiator s Magazine fome Millions of Ducats depofited in it by the Sub- jects into the Hands of the Republick, who are Sureties for the fame, and pay the Salaries of all the Officers, for whofe Care and Honefty they ftand engaged, and make good all the Monies to the Bank, which may happen to be loft by Frau- dulency, Mifmanagement, &c. This Bank is ufually fliut up four Times in the Year for 20 Days together ; viz. on the 20th of March, 20 th of June, 20 th of September, and on the 20th of December ; and it is likewife ihut up every Friday, to balance their Books, unlefs there be an Holiday in the Week ; and it is alfo fhut up for 8 or 10 Days at Shrove-tide, and in the Tajjion-Week : Nor is the {hutting up of the Bank any Impediment to Trade, for the Merchants may negociate and difpofe of Sums in Bank upon their Exchange, as well as if the Bank was open. Their Meafure for Linen and Silks is the Brace, and that is of two Sorts, viz. 5 Braces for Silk makes fomething lefs than 3 Englijh Ells ; or 100 Braces makes about 57-;- Ells in London, 98 Ells in Holland, 117!- in Hamburgh, I22i in Brejlaw, 104 in Dantzick, 117 in Leipfick y and the Brace for Linen is about half an Englifi Ell. Their Weights are diilinguiuYd in Grofs and Suttle Weights. Their Grofs Quintal, by which they weigh Brafs, Metal, Feathers, and other lumbering Com- modities, is 100 tb Grofs. The other, by which they weigh Silk, Spices, and Drugs, is 100 tb Suttle. Now 100 lb Grofs Weight makes 158 lb Sut- tle Weight, or 106 lb in London Avoird. Wt. And Of Money \ JFctghts, MeA fi/res, 6Cc. 383 And 100 lb Suttlc Weight makes about 63 ^ tb of their Grofs Weight, or about 65-^ tb in London. And 1 00 tb Suttle of Venice has been found to make about 6 1| Tb in Hamburgh, 65 \- ib in London y 60 tb in Aynjlerdam, 59 th in Frankfort. Their Gold and Silver Weights are as follow, viz. 4 Grains is one Carat, 9 Carats (or Saliques) is one Quarta, 4 Quarta's one Ounce, and 8 Oun- ces is one Mark. And 100 tb Troy Weight has been found to make about 1 1 6i of the above Marks and the fame in Verona. Their Wine Meafure, is the Amphora of 4 Bi- gorza's, each Bigorza is 4 Quarts, and each QjjarC 4 Sachies, and each Sachie is 4 Lera's ; but by Wholefale, the Amphora is 14 Quarts, and the Bigorza Quarts. Oyl they fell by Weight and by Meafure ; the Mizaro is 40 Mero, and the Mero is about 34. Pints by Meafure ; but by Weight it is more. Corn is fold by the Staro, and is in Quantity about one Sectier of Paris. Of the Exchanges of Venice. The Value of Foreign Bills of Exchange, drawn for Foreign Places and Fairs, fhould be always paid in Bank. No Endors'd Bills can be paid in Bank, but the Perfon in whofe Favour it is drawn, mull: fend his Correfpondent a Procuration to receive the Money for him, or elfe he muft get his Bill drawn in his Correfpon dent's Name. Bills of Exchange are not to be Protefted while the Bank is (hut, nor till fix Days after it is open- ed again. Notwith- 3S4 HayesV Negotiators Magazine Notwithstanding what has been already faid in relation to Endors'd Bills, it feems that the Bank- ers of Venice have found a Way to evade the Laws relating thereto, the Procuration being only a Trick of theirs to take in their Provifions : How- ever, to prevent the Lofs and Damages, in return- ing the Bills, &c. the fureft Way is, to let your Bills be drawn payable to your Correfpondent to whom you fend them. * London. 100 Livres is worth 3 Pounds Ster- ling ; fo that one Livre is worth about j~ d. Sterling. Amfterdam. 3 Livres is worth 1 Florin ; fo that one Livfe of Venice is worth 6 Stivers 1 c4 Deniers of Amjlerdam. Antwerp. 75 Livres is worth 4 /. Flemifh ; fo that one Livre is worth 14- Shillings Fle- rrriuh. Spain. 17 Livres is worth 19 Rials ; fo that 1 Livre of Venice is worth 1 Rials 4 Marve- dies of Spain. Dantzick. 15 Livres is worth 2 Florins; fo that 1 Livre is worth 1 2 Groffes. Frankfort. 5 Livres is worth 1 Florin of 90 Cruitzers ; fo that one Livre is worth 1 2 Cruitzers, Hamburgh. 5 Livres is worth 2 Marks Lubs ; fo that one Livre is worth 6 s. 44 d. Lubs. Leipfjch. 15 Livres is worth 2 Rixdollars; fo that one Livre is worth 3 Grofs 2 4 d. Paris. 5 Livres is worth 2 Livres of Paris -f fo that one Livre of Venice is worth 8 Sol* Tournois. S The o c Of Money, Weights \ Meafures, &c. 385 The Ufance of Venice to other Places. To London, £ Months after To L:ica, 20 Days Sight. Date. To Milan ', 12 Days To Antwerp, 2 Months. To Naples, 1 5 Days. To Avignon, 45 Days. ToPalermo, 30 Days. To Barcelona, 2 Months. To Florence, 20 Days. To Conftantinople, 5 Days. To Genoa, 10 Days. To Paris, 2 Months. To Rome, 10 Days. To Sevil, 90 Days. To Lions , from Fair to To Valencia, 75 Days. Fair. The Courfe of the Exchanges of Venice. ' London, 1 Ducat of 24 Grains Banco for be- tween 50 d. and 60 d. Sterling. France, 70 to 80 dit. for 100 Crowns Toumois. Spain, 1 dit. for an uncertain N°. of Marvedies. Holland, Brabant and Hamburgh, one Ducat ditto, for 80 to ico Grotes. Novi, an uncertain Number of ditto, for 100 current Crowns. Naples, 100 ditto Banco> for 90 to 100 Du- cats of 10 Carlins. £ j Leghorn, 100 d°. for 90 to ioo Dollars of 6 Li\r. So\ Lucas 100 dit. for 82 to 98 dit. of 7-r Livres. Rome^ 100 ditto, for 50 to 80 Crowns. Ge?ioa, ico to 125 Sols Banco, for the Crown of 4 Livres. Milan, 150 to 200 Sols, for one ditto of 5 Livres 15 Sols. Frankfort, 100 Ducats, for 120 to 140 Flo- rins of 60 Cruitzers. Noremburg) 100 ditto, for 140 to 150 Florins of 60 Cruitzers. St. Gall, ioo ditto, for 150 to 170 Florins of 60 Cruitzers. C c Sect, o 386 HayesV 'Kegociators Magazine SECT.V. Of Bo LOGNE, T N this Place Accounts are kept in Livres, Sols, and Deniers; 12 Deniers a Sol, 20 Sols a Li- vre j or in Livres, Sols and Quartiens, reckoning 6 Deniers to a Quartien. The Current Coins of Bologne. A Spanifh Piftol is valued at 1 5* Livres. An Italia?! ditto, at 15 Livres. A Venetian Sequin at 9 Livres. A Gold Hongrc at 84. Livres. A Milan Ducattoon at 5 Livres 2 Sols, A Genoefe Crown at 6 Livres 4 Sols. A Pope's Crown at 5 Livres. A Spanijh Dollar or Crown at 4 Livres 5 Sols. A Teftoon at 1 Livre 1 o Sols. A Jules at 20 Quartrins. A Sol, Bayock, or Bolognks at 6 Quartrins. They have alfo other Coins of the Empire^ Spain, and France, which do daily pafs current among them. This is a Place where they have much Dealing in the Exchange ; and they have fome excellent Decrees and Laws extant for the well regulating the fame. Their Weights are 12 Ounces to a Pound, and 100 lb to the Quintal, which makes ill London about 80 lb; after which Rate an ordinary Bale of Bohg?ie Silk, which weighs of their Wt. 270 lb, makes in London about 2 1 6 lb Avoird. Weight. Their Of Money } Weights ^ Men fuses, &c. 3 5 7 Their common Meafure for Linen and Silk is the Brace, which is about 25 Inches in London , or 100 of their Braces makes about 53 Ells in London, Corn is fold here by the Corbe, 100 whereof makes about 92 Sextiers of Paris. The Uiances of Bolognc with other Places. To Rome and Genoa , 1 o Days Sight. To Mi/an, Venice, Florence, Pija, Luc a, and other Places in Tufcany ; and to Aicona, Marca, Romani, and other Places in Lombard)', 8 Days Sight. To Naples, 1 5 Days Sight. To Palermo, MeJJina, Bars, and other Places in Sicily, one Month. To Lions, Be/anfon, and Spain, according to their yearly Markets. To Antwerp, Paris, and all the Netherlands 2 Months. To London and the Levant, 3 Months. The Courfe of the Exchanges of Bohgne. o o f Venice, one Dollar of 85 Sols for 125 to 133 Sols of Venice. France, 50 to 60 Sols for 1 Crown Toumois. Rome, 90 to ico d°. for the Crown of 1 o Julio's. Nrci, 170 to 180 Dollars for an uncertain *5b I Number of Crowns. ^ \ Liica, 100 to no Sols for the Crown of 7-I- Livres. Florence, ice to 105 ditto for the Ducat of 7 Livres. Naples, 90 to 100 ditto for the Ducat of 10 Carlins, C c z Sect. 388 Ha yes' j Negotiators Magazine Sect. VL O/^Parma. THEY keep their Accounts here in the Ecu d' Argent, which they reckon at 20 Sols, and one Sol 12 Deniers. The Merchants Ecu is valued at 4 Livres, with an uncertain Agio. Sect. VII. (^Sardinia, IN this Place they keep their Accounts in Li- vres, Sols, and Deniers. The Piaftre, or Pieces of 8 Reaux or Rials, are worth 94 Rials, and one Rial is worth 1 5 Sols of Sardinia Money ; fo that the Piaftre, or Piece of 8 Rials, or Dollar, is worth 6 Livres 18 Sols, or 138 Sols of Sardinia Money. Sect. VIII. Of Florence. / I * HEY keep their Accounts here in Ecu's, Sols, and Deniers, Picoli or Current of the Place, reckoning 20 Sols to an Ecu, and 12 De- niers to a Sol. The Current Coins of this Place are, viz. Quartrins, whereof 5 is a Craca or Grain, and 8 Grains is a Julio or Paulo, 1 2 Grains is a Livre, and yi Livres, or 150 Sols, is an Ecu or Crown, which they make their Exchanges in, and in which they keep their Accounts. In Of Money, Weights, Men fores, &c. 389 In their Accounts they reckon 1 2 Deniers to a Sol, and 20 Sols to a Livre. A Florence Piftol paffes at 20 Livres, or 30 Ju- lio's; and moftly at 21 Livres, or 3 Julio's. A Spanijh Dollar paffes for about 5 Livres 1 5 Sols, A Teftoon is 2 Livres, or 3 Julio's. A Julio or Quilo is ~ of a Livre. A Sol is 3 Quartrins, or 1 2 Deniers. Their Meafure for Silk and Cloth is the Brace, and 4 Braces is a Cane, and 100 Braces are found to make in London 5 Ells Englijh, or Yards. Their Weight is the Quintal, or 100 lb of 12 Ounces, which makes in London about jz )b Avoird, The following Weights are for Gold and Silver, viz. 24 Grains is one Denier, 3 Deniers is one Grofs, 8 Groffes one Ounce, and 8 Ounces is one Mark, and 1584- Marks is about icotbTroy Wt. Wine is fold by the Cognio, which is reckoned as follows : 2 Mittidels is a Flafk, 20 Flalks is' a Barrel, and 10 Barrels to a Cognio. Wrought Silks are fold by Weight, and not by Meafure. Salt is fold by the Staro of 72 lb. Corn or Grain is fold by the Moggio of 24 Sta- nds of 50 lb Weight each. The Ufance of Florence. To Antwerp and Anflerdam, To Lions, from Fair to Fair. 2 Months after Date. To Spain, 2 and 3 Months. To London, 3 Months. To Mejjma, 1 5 Days Sight, To Avignon, 30 Days. To Milan, 10 Days. and back again, 45 Days. To Naples, 10 Days. To Barcelona, 2 Months. To Padua, 5 Days. To Bologne, 2 Months. To Pifa, 3 Days. To France, one Month. To Rome, 10 Days. To Farrara, 5 Days Sight. To Valencia, 40 Days, To Genoa, 8 Pays Sight. To Venice* 5 Days, C c 3 The 39° Haves'j- Negociators Magazim si The Courfe of the Exchanges of Florence, ^London, the Crown of 74 Livres for 55 d. to 6$d. Sterling. Spain, one ditto for 400 to 500 Marvedies. Portugal, one ditto for an uncertain Number of Reas. Milan, ditto for ditto of Sols. France, an uncertain Number of ditto for 100 Crowns Tournois. Novi, ditto for 1 00 Crowns of Novi. Venice, ditto for 100 Ducats Banco. Naples, 100 ditto for an uncertain Number of Ducats. Leghorn, an uncertain Number of Sols for the Dollar of 6 Livres. Luca, 100 Crowns for an uncertain Number of Crowns of j~ Livres. Rome, 100 ditto for 70 to 90 Roman Crowns. Amjlerdatn, Antwerp, and Genoa, the fame a$ ^ Leghorn does to the faid Places. Sect. IX. O/Luca. IN Luca, or Luque, they keep their Accounts in Livres, Sols, and Deniers. Their Ecu, or Ducattoon, is worth 7 Livres 10 Sols; and the Piaftre, Dollar, or Pezzo of Leghorn is worth 6 Livres 4 Sols of Luque. Sect* Of Money, JFe/ghts, Men fires, &c. 3 9 1 Sect. X. Of Leghorn. THEY keep their Accounts here in Dollars, reckoning 20 Sols to the Dollar, and 12 Deniers to the Sol the faid Dollar being valued at 6 Livres, and the Ducat at 7 Livres. See the Coins of Florence. Their common Meafure is a Cane and a Brace ; 4 Braces is reckoned to a Cane, and is about 24- Yards in London ; or 100 Braces has been found to make $ $iE\\s in j4n?/lerdam, \oi\ in Hamburgh , 1064 in Brejlaw, 96^ in Dantzick, 102-i- in Leip- fick, 2 6t Canes in Genoa, 657 Yards in London, &c. Their Weights are the fame as they have at Florence -y but they have four Sorts of Quintals. A Quintal for common Ufe is 1 00 lb for AI- lom, 150 th for Sugar, 151 lb for Fifh, 160 lb and the Quintal for Wool is the fame. And 100 lb of Leghorn has been found to make 7 5-^ lb in London, 8 5 J 1£> m Marfeille, 69 lb in Am- jlerdam, yoi lb in Hamburgh, 72V tb in Leipfick. Wine is fold here by the Cognio, which is 1 o Barrels, 20 Flalks to a Barrel, and 2 Mittidels to a Flafk. Their Meafure for Corn is the Stax ; and they do reckon 3 Stax to one Sack, and 8 Sacks to a Mogio 3 and 5 Sacks is accounted to make a little lefs than 10 Englijlo Bufhels : Or 100 Sacks of Leghorn is accounted to make 63 Minors of Genoa % and 1 2 Mino's of Genoa is accounted to make one Tun of 40 Bufhels Winchejler Meafure, Oil is fold by the Oxio of 32 Mittadels, C c 4 The HayesV Negociators Magazine The Courfe of the Exchanges of Leghorn. ^London, one Dollar of 6 Livres fox 38*/. to 48^/. Sterling. Holland, the fame for between 85 to 100 Grptes. France, the fame for between 50 and 60 Sols, and fometimes 1 00 Dollars for more or lefs Crowns Tournois. Portugal, the like for an uncertain Number of Reas. Florence, ditto for 115 to 120 Sols. Genoa, ditto for 100 to 105 Sols. Venice, 93 to 100 for 100 Ducats Banco. Naples, ditto for 1 12 to 1 15 Ducats of 5 Tarin. Novi, ditto for 100 Crowns. Rome, ditto 100 for 80 to 90 Crowns. ^Geneva, 100 ditto for 100 to 105 Crowns. They have an Exchange with many other Places, which they do in the fame Manner as Florence does. Sect. XI. O/Rome. IN Rome they keep their Accounts in Crowns, Julio's, Grains and Quartrins ; reckoning 4 Quar- trins to a Grain, 8 Grains to a Julio, and 10 Ju- lio's to a Crown -y a Julio is worth about yi d. Sterling. The Current Coins of Rome. An Italian Piflol goes for 30 and 31 Julio's the Spanijh Piflol. A Scudi or Stampt Crown, or Crown of Ex- change is 12 Julio's, or jst 6d. Sterling* One Qf Money, Weights^ Mea/ures, £Cc. 393 One ditto Current is 10 Julio's. A Teftoon, 3 Julio's. A Stampt Julio, 10 Bayocks. A Bayock Grain or Sol is 4 Quartrins. Ar. B. The Julio's are fometimes called Paulo's, And they have a Ducat of Exchange, which according to the ancient Value is worth 2 i per Cent, more than their abovefaid Crowns, fome- times called Crowns of Gold : So that 100 of the laid Ducats is worth 102 f Crowns. Sect. XII. Of the Agios of the Monies in Rome and wojl other Places in Italy. THE Term Agio is common in moft Places in Ital\\ and figniries a valuable Confidera- tion on the current Monies (which is ufually paid for Merchandizes) for the other Monies which are called de Ova ; this laft being what Bills of Ex- change are ufually valued in, to which 1 2 Julio's are reckoned to a Crown ; but to the former cur- rent ones are reckoned 1 o Julio's to the fame. As for Example. A Merchant having fold a Parcel of Goods, for which he has received 874.8 Crowns 29 Bayocks, at 1 o Julio's per Crown, which he defires to receive in the Crowns Eftampe, or as fome term them in Crowns of Exchange, the Agio being 45 Julios per Cent, to know what he mult receive for die fame, do as follow. N. B. The Agio's are higher or lower, accord- ing to the Quality of the Money the Payments are made in, if 394 Hayes'/ Negotiators Magazine Crowns. ioo Agio 45 Julio's 12 Crowns. Bay. Crowns. If 1245 — 8748 29 — IOO IO 87482,9 IOO — — Crowns, s. d. 1245) 8748290 ( 7026 14 9 Eftampe, the 3329 Anfwer, being the ■* Sum that the Mer- 8 3 9° chant muft receive . in Exchange Mo- 92QbY 2o ney for th? afore- 1245)18400(14 faid „ 8748 Crowns „ 29Bayocks current 5950 Money. 970 by 12 1245)11641(9 435 The fame proved. Crowns s. <3. 7026 14 9 Eftampe Multiply 'd by - - - 1245 35*35 10 281069 10 8432085 — 8748(290 — Anfwer makes 8748 Crowns 29 Bayock current, or Money to be received for Merchandize. Of Money, Weights, Menf/rres, &c. 395 Their Meafure for Woollen Goods is the Cane of 8 Palms, 100 whereof is about 227 Englijh Yards ; ditto for Linen is a Brace, which is 3 £ Palms of the faid Cane. Their Weight is the Quintal, which is of two different Sorts ; that for Spices, and fuch choice Goods contains 160, and the other for heavy bulky Goods is 2501b, and makes in London about 200 tb Avoirdupois. Their Weight for Gold, Silver and Jewels, contains as follows : 4 Primi or Grains is one Sa- liqua, 3 Saliqua's is one Obolo, 2 Obolo's is one Scruple, 3 Scruples is one Dram, 8 Drams is one Ounce, and 8 Ounces is one Roman Mark ; and 'tis faid that 116 4 Marks makes 100 Tb Troy Weight in London. Corn is here fold by the Rugio of 4 1 2 tb of their Weight 5 and makes in Florence 3 f Stoio's. The Ufances of Rome to other Places. To London, Holland, Antwerp, and Hamburgh, 3 Months. To Avignon, 45 Days Sight. To Florence, 10 Days. To Genoa, ditto. To Lions, from Fair to Fair. To Naples, 8 Days Sight. To Palermo, 1 5 Days Sight. To Pifa, 10 Days. To Valencia, one Month after Date, To Venice, 1 o Days, The 5, and they have likewife a- mong them the ufual Monies of Italy, & Ducat of 5 Livres, and a Ducattoon of 9 Livres 1 o Sols. Their Quintal is 100 lb, and makes in London about 72 lb. Their Brace for Linen and Woollen is the fame as the Cloth Brace in Venice. Sect. XVII. Of Berg am. C C O U N T S are kept here in Livres, Sols, and Deniers. 398 HayesV Negotiators Magazine The following are deemed the Current Coins of this Place. A Spanijh Piftol is valued at 32 Livres Current, and at 28 of Exchange. An Italian Piftol at 3 if Livres, or at 2j* of Exchange. A Chequin at 16 Livres. A Hongre at 1 5! Livres. A Genoa Crown at 1 1 Livres 6 Sols. A Venetian Ducat at 9 Livres 1 o Sols. A Philip of Milan at 8 Livres 6 Sols. A Ducattoon at 9 Livres 1 2 Sols. A Crown or Ducat of Exchange at 7 Livres. The Courfe of Bergam Exchanges. 'Novi, 100 to 120 Crowns for 100 Crowns- Milan, 180 to 190 Sols for the Ducat of 7 Livres 15 Sols. Lions, 120 to 130 ditto for one Crown Tourn. Rome, 170 to 190 ditto for one Stampt Crown. Venice, one Crown for 115 to 120 Sols of Ve- en > I I5 nice, &c. Sect. XVIII. Of Naples. IN this Kingdom they keep their Accounts, and make all their Reckonings in Ducats, Tarins, and Grains ; reckoning 20 Grains to a Tarin, and 5 Tarins to a Ducat. The common Coins current in Naples, 1 A SpaniJJj Piftol is valued at 33 Carlins. An Italian ditto at ?o Carlins. A Che- A Chequin or Checkeen at 1 8 Carlins. A Gold Ducat at 1 2 Carlins. A Current Ducat at 1 o Carlins. A Gold Crown at 13 Carlins. A Current Crown at 1 1 Carlins. A Spanijh Dollar at 9 Carlins. A Tarin at 2 Carlins. A Car tin at 10 Grains. A Grain is 3 Quartrini. A Tarin is much about the Value of one Shil-* ling Sterling. Their Meafure for Linen and Silk is the Cane of 8 Palms, and makes about 2 Yards in London. Their Weight is the ib of 12 Ounces, and makes about 1 of Ounces Avoirdupois; fo that 100 lb of their Weight is about 64 lb 10 oz. in London. In their Weights for Gold and Silver they do reckon 8 Octaves to an Ounce, and 1 2 Ounces to a lb, whereof 864:1b makes about 100 lb Troy in Lo?tdon. They fell their Oyl and Liquors by the Salmo of 1 6 Tomolo's ; and 5 f Salmo's is accounted to a Tun of 236 Gallons of Oyl in London. To Avignon, 1 6 Days af- To all the Towns in the To Palermo and Meffina, To Valencia, 40 ditto. The Ufances of Naples. ter Date. To Florence, 20 ditto. To Genoa, 1 o ditto. Kingdom of Naples, 8 Days Sight. To Pifa and Rome, ditto. 10 Days Sight. To Venice, 1 5 ditto. The > 400 HayesV Negotiators Magazine The Courfe of the Exchange at In this Place they do allow 8 Days of Grace. r Spain , a Ducat of 10 Carlins for 380 to 400 Marvedies. Genoa, the Dollar of 9 Carlins for 60 to 90 Sols. • Palermo, the Ducat of 10 Carlins for 160 to \ 190 Ponti. Leghorn, Venice, Rome, Florence, and France, for 100 Dollars, Ducats, Stampt Crowns^ Crowns, and French Crowns, &c. at fo 1 much^r Genu Sect. XIX. Of Sicily. IN Palermo, MeJJina, and all over this Ifland, they keep their Accompts in Ounces, Grains, and Tarins, the fame as in Naples. The Current Money of Sicily. Eight Pichili is one Ponti, 6 Pi chili is a Grain, 1 o Grains a Carlin a Tarin is 2 Carlins, 1 2 Car- lins or 6 Tarins is a Florin, 30 Tarins or 60 Car- lins is one Ounce, a Ducat is 13 Tarins, a Cur- rent Crown 1 2 Tarins, a Spanijl: Dollar 1 1 Ta- rins an Ounce is about 12 s. 6 d. Sterl. a Ducat 5 s. 6 d. Sterl. a Crown 5 s. Sterl. a Florin is about 2 s. 6 d. Sterl. and a Tarin 5 Sterling, They exchange in Ducats, Carlins, Crowns, and Florins. Their Meafure for Woollen, &c. is the Cane of 8 Palms, about 24 Inches Ions;. Their Of Monej >t "eights Meafure &c. 40 1 Their Weights. 1 2 Ounces to a Pound, 2~ 15 to a Rotello, 100 Rotellos is their common Can- tar, which is about 176 Tb Avoirdupois in London. Corn is fold here by the Sal mo, of which they have two Sorts, viz. a great one and a fmall one, and this lait Meafure is the common one, and is about j£ Buihels Hfincbefter Meafure, and is about 17 per Cent, lefs than the great one. Oyl is fold by the Cantaro, which holds about 2i Barrels of Florence. The common Exchanges of Sicily are as follow : c f 'Spain , the Florin for 230 to 250 Marvedies. Florence , 20 to 30 Carlins for the Crown of 7 4- Livres. cn O t> ^ \ Novi, 15 to 30 Carlins for the Crown. \ Naples, 160 to 170 Ponti for the Ducats of g ^ v. Tarins. They exchange among themfelves at fo much per Cent, and they do fometimes exchange with London, Amfterdam, Antwerp, Venice, and Lions, giving always the Ducat or Crown in the Exchange. Sect. XX. O/^Placentia. TH E Bankers and Exchangers of this Place keep their Accounts only in Crowns of Mark, and Sols and Deniers of Mark ; and in Exchange with any other Place, Placentia does always give the entire or whole Sum, either one Crown, or 100 Crowns. They reckon, as in mofl other Places in Italy, 12 Deniers to a Sol, and 20 Sols of Gold to a Crown. Dd Sect, 402 H a Y E sfs Negotiator s Magazine Sect. XXI. Examples of the Exchanges of Italy, Milan upon London. Milan draws upon London for 8423 Ducats 18 Sols 64r Deniers, at 56 d. Sterling per Ducat j to know the Amount in Sterling ? Ducats, s. d. Ducats, s. d. ■J 8423 18 o6i or thus: 8423 18 o6f ! ' mult, by - 56 \£ 1684 15 o8i — 280 15 iii 67391 08 04 Anf. 1965 11 0744 12)471739 18 04 2|o) 393i|i 07 Anf.L. 1965 11 07-H-Steri London upon Milan. London draws upon M/7 2£dt Sterling. Leghorn Of Mouej *, We?ghts% Meafnresy &c. 405 Leghorn and London. Leghorn remits to London 482 1 Dollars 18 Sols 10 Deniers, at 534- per Dollar, How much in Lon- don will this Remittance amount to ? Dollars, s. d. 4821 18 IO 12 ) 257973 17 7 53i 1 2|0) 2149I7 9 I4465 16 06 241097 01 08 i°74 17 09 2410 19 05 — 1 Anfw. it amounts to 1074 /. 257973 17 07 ijs.gd. Sterl. in London. London and Leghorn. London remits to Leghorn 1074/. lys. gd. Sterl. Exchange at 53-I- Dollar, How many Dollars will this Remittance amount to ? & /. s. d. 534. mult. 1074 17 9 by 20 2 2 1497 by 12 107 " 257973 by 2 107) 515947 (Ani! 4821 Dol. 1 8s. iod. j^o" the above Remittance 20 amounts to, j. 107)2015 ( 18 ~W 12 d. 107 ) IQ70( IQ 000 ^ ' S 2 C tm 40 6 Ha ye s V Negotiators Magazine Sect. XXII. Of Malta. IN this Ifland they keep their Accounts, and their Money is the fame as that of Sicily ; the one being made of Silver, and the other of Copper, or Brafs, the latter being their Current Money ; and in Buying or Selling of any Commodities of Value, it is always faid whether for Silver or Brafs Money, the former being counted 50 per Cent, better than the latter. They have Spanijh} Italian, and Vene- tian Money among them, and in their Reckonings they count 6 Pichili to a Grain, 10 Grains to a Carlin, 2 Carlins to a Tarin, and a Deci Tarini at 10 Tarins. Sect. XXIII. O/Morea, Corona, P E T R A S, &C\ IN thefe Places they keep their Accounts as they do in Turkey, or in Venice , but they do gene- rally reckon by the Turkijl: Coin, 80 Afpers to a Dollar. In their Weights they reckon 1 if Drams to an Ounce, 12 Ounces to the lb, 3 lb to an Oak, 132ft to a Quintal, which is about 117T in London. In weighing of Raw Silk they do reckon 1 5 Ounces to the lb. They fell Oyl by a Meafure they call the Levor, and it weighs about 7 '- lb, 1 o whereof fills a Candy Barrel which mould hold 1 5 Englijh Gallons and \yeigh 1 1 2f lb Avoirdupois. Corn. Of Mom) freights, Meafures^ &c. 40 7 Corn is here fold by the Bochel, 94 whereof is about 8 Bufhels Winchefter Mcafure ; and they fell their Wine by the Loder, which contains about 8 Gallons EngliJI:. Sect. XXIV. Q/'Candia. IN this Ifland they life the fime Money, and keep their Accounts in the fame Manner as they do in Venice. In their Meafuring, they make ufe of 2 Pico's, the one for Silk and the other for Cloth. 1 00 Pi- co's for Silk makes about 6 1 -I- Yards in London, and 100 ditto for Cloth makes about 65^ ditto. They have two Sorts of Weights, the Suttle Weight, and the Grofs or Great Weight. The 100 lb Grofs Weight makes about 1 18 lb Avoir- dupois in London > and the 100 lb Suttle Weight makes about 76 lb ditto in London. Sect. XXV. Of Turkey. IN Co?iftantinopL\ Accounts are kept in Lions, Dollars, andAfpers, reckoning 80 Afpers to a Dollar ; and by thefe two Coins all their other Coins are valued. All Sorts of European, Afian, and African Coins pafs current among them, pro- vided they be of good Gold or Silver, according to their Weight. Dd 4 40 S H a y E s\r Negotiators Magazine. The current Monies of Qmftantinople . A Gold Checkeen or Cheffin paffes for about 243 Afpers. An Afper is worth fomething lefs than an Half- penny Sterling. A Venetian Checkeen at about 280 Afpers. An Hongre, or Hungarian ditto, at about 240 or 250 Afpers. KSfanijh Dollar, or Piece of Eight, at 110 and 100 ditto. German Dollars at 1 10 to 120 ditto. \ And divers other Pieces pafs among therein the like Proportions. Their Meafure is called a Pico, of which they have three Sorts 5 the fir ft for Linen, whereof 6 makes about 9 Yards EngliJJj; the fecond for Woollen Goods, 16 whereof is about 12 Yards EngliJJ: ; and the third for Camlets and Grograms> 12 whereof is about 8 Yards Englifi. Their Weights. 4 Grains is one Quirat, 16 Quirats is a Dram, 1 2 Drams is one Ounce, 1 z Ounces is one Rota, 150 Rota's is one Cantar, 400 Drams is one Oak, 176 Drams is one Loderas, and 100 Lodera \s is about 44 Oaks, which is called a Quintal or Cantar, and makes about i2oib in London. Their Weight for Coins is a Medical or Dram of 24 Killets, and 20 Medical of Gold is 3 Ounces Troy Weight. Silk is fold by the Baleman, containing 6 Oaks. \ f the Baleman be weighed by the Lodera, it will weigh 1 3 Lodera and 1 1 2 Drams. Corn Of Monty y Weights, Meajures, &c. 40 9 Corn is fold by the Killow, and weighs about 20 Oaks; and 87 Killows is about one Quarter London Meafure. Wine and Oyl are fold by the Meter, which makes 8 Oaks, and is about 4 of a Winchcjicr Gallon. CHAR XXVIII. Of A s 1 a. L E P P O.] Here the Merchants keep their Accounts the fame Way, and have the ■ fame Monies as in Conjlantinople. The Weights of this Place are the'Rotulo's and the Drams, but their Rotulo differs in Drams ac- cording to the Commodities. The common Rotulo is 4 ft 13 Ounces, or 720 Drams. The Rotulo for Perfmn and Legee Silks is 680 Drams, or 72^ Ounces. The ditto for Belladine Silk is 720 Drams, or 74-J Ounces ; and for Tripoli Silk the Rota is the fame. The ditto for Caftravan Silk is 600 Drams, or 4 ft Englijh. The Aleppo Wells is 120 Drams, or 13 Englifi Ounces. The Cotton Cyprus Kental of 100 Rotulo's is 506 th Englifo. The Oak contains 400 Drams. A Wefno 4 1 o Ha yesV Negotiators Magazine A Wefiio of Silver is 100 Drams and there is another Wefno of 3600 Drams. They reckon 60 Drams to an Ounce, and 10 Ounces to a Rotello, which is about 4 lb 14 Oz. Avoirdupois Weight; fo that 1 1 2 tb is 2 2 Rotello's and 8 Ounces, and 100 Rotello's is a Can tar or Rental, and makes 418 ib Avoirdupois. Gold, Silver, and Precious Stones are fold by the Mittigal, which is ii Dram; a Dram is 60 Carats, and a Carat is 4 Grains. Their Meafure for Linen, Woollen, and Silks, is the Pico, which contains about -J of a Yard Englijh* Smyrna.] At this Place a Rotello is 180 Drams, and 100 Rotello's is a Kintal of 45 Oak^ and is 1 1 9 Vb Avoirdupois in London \ 44 Oaks is counted a Kintal ; 2400 Drams, or 6 Oaks, is a Batman; 400 Drams is an Oak, which is 2 tb Ii Oz. Avoirdupois in London ; 800 Drams is a Chiquc; 250 Drams is an Oak of Opium ; 120 Drams is an Oak of Saffron; and 140 Drams is one Pound Avoirdupois Weight. Cotton Yarn of all Sorts, Gauls, Allom, fife, are weighed by the Kintal of 45 Oaks. Cotton Wool, Sheeps Wool, Tin, &V. are weighed by the Kintal of 44 Oaks. Several Sorts of Silk are fold by the Batman. Pepper, Cloves, Mace, Benjamin and Galba- nm, &c. are fold by the Oak ; and Goats Hair^ neates and unbeaten, are fold by the Chique. Sect, Of Monty Weights, Meafures, &c. 411 S e c t. I. Of the East Indies. Monies, Weights, and Meafures of the Englifli Factories, and Places of "Trade in Perfia, and the Eaft Indies. BENGAL.] Their Money. 12 Pice is one Ana, 16 Ana's a Rupee, or %s. 6 d. Sterling. Their Weights. 20 Pice is one Seer, 40 Seers is one Maund of 75 lb, 20 Maunds of 25 lb each one Candy, 80 Cowries one Pun, and 16 Pun is one Cahaun. Their Meafure is a Cavid of half a Yard. BOMBAY.] Their Monies. 1 00 Rees is one Quarter, 4 Quarters is one Rupee, 910 Budgrooks is one Rupee, 80 Rees is one Laree, 3 Larees is one Xeraphim, and a Xeraphim is -\ of a Rupee. Their Weights. 15 Pice is one Seer, 40 Seers is one Maund or 28 lb, 20 Maunds is one Candy. A Pucca Maund is 74* lb. Their Meafure. 5 Pecks is one Parah, and 25 Parahs is one Morah. SURATT.] Money. 16 Pice is one Ana, and 4 Ana's is a Rupee, or 2 s. 3 d. Sterling. Weights. 40 Seer is one Maund or 37] lb, and 20 Maund is one Candy or 64-Ct. Their Meafure is a Cavid, which is half an Eng/ifj Yardo ANJENGO.j 412 Hayes V Negotiators Magazine A N J E N G O.] Money. 1 6 Viz one Fanam, 5^ Fanams is one Rupee. Weights. 8o Pullums is one Telong 16 lb, and 35 Telongs is one Candy 560 lb. CALLICUT and TELLICHERY. ] Money. 16 Viz one Fanam, $i Fanams is one Rupee, and 5 Tetiickery Fanams is a Rupee. Weights. 20 Maunds of 29^- lb is one Candy, CARWAR.] Money. 6 Pice is one Tuttal, 48 Tuttal one Pagoda. An Ickaree Pagoda is 8| per Cent, better. Weights. 2 5 Pice is one Seer, 40 Seers is one Maund 25^ 15, 20 Maunds is one Candy 515 lb. PERSIA.] Money. 10 Goz is one Shahee, 2 Shahees one Mamodre 5 4 Shahees is one Abaf- fee, 28 Shahees is one Chequeen. A Goz is 4^. a Mamodre $d. an AbafTee i6d. and a Chequeen 95. 4^/. Sterling. 200 Shahees is oneTomand, or 3/. 6 s. 8 d. Sterling. Weights. A Maund Tabres 6i lb, a Maund Shaw 134-15, a Maund Carmenia 51b, and a Maund Kifhmifh 7 lb. Meafure. Is a Covid, i an EngliJIo Yard. MOCHA.] Money. 7 Carretts one Ca- flee, 60 Camafhees one Spanijh Dollar 3 and 8p Caveer is one Spanifo Dollar. jfo oz. drams Weights. One Rattle is - - 1 of 12 2.\ Rattles or 1 o Vachin is 1 Maund 215 6 10 Maunds one Frazil, or - 20 10 12 15 Fragi} oneBahce, or 4451b. Meafure, Of Money ) JFaghts, Meafures file. 413 Meafure. A Hand Covid is half a Yard, and the Iron Covid three Quarters of a Yard. 40 Kella is one Tomand, or 1651b Weight, MOCHA BUTTLEFUCKE.] Weights. Jfc oz. dram. 14T Vachia is one Rattle, or - 1 00 4 29 Vach, or 2 Kettles, or 1 Maund 2 00 8 10 Maund one Frazil, or - - 20 05 3 40 Frazils is one Bahar, or - 813 01 o FORT. ST. GEORGE.] Money. 80 Cafli is one Fanam, 36 Fanams is one Fagoda or 9 Shil- lings Sterling; and 46 Cam is one Rupee, or 25. 6 d. Sterling. Weights. 25 lb one Maund, 20 Maunds is one Candy, or 500 lb. Meafures. 3 Pints one Meafure, 8 Meafures is one Mercal,^ Mercals one Parack, 80 Paracks or 400 Mercals is one Garfe. One Corge is 20 Pieces, and a Covid is half a Yard. BENCOOLLEN.] Money. 2 Sattellers one Sooco, 4 Sooco's is one Real. A Sooco is 15^. Sterling, and a Rial 5 Shillings Sterling. Weights. A Bahar is 560 Tb. Meafures. One Bamboo is a Gallon, and 800 Bamboo's is a Coyan. N. B. On the Ifland of Borneo 1000 Bamboo's is a Coyan. CHINA.] Money. 10 Cam is one Cande- rine, 10 Canderines is one Mace, iq Mace is one Tale, 414 HayesV Negotiator's Magazine Tale, and is 6 s. 8 d. Sterling; but by Calculation it makes but 6 s. 3 d. Sterling. N. B. They weigh all Monies by Dodgins, like Stillards, and they take none but good Silver : An Englijh Crown goes for 8 Mace, and 3 Rupees for one Tale. A Rupee weighs 3 Mace 1 Canderine and 2 Cam, but generally 3 Mace 2 Canderine $ fo that if you cut them, you will lofe by them. Their Weights, id Canderine is one Mace, jo Mace one Tale, 16 Tale one Catty, 100 Catty one Pecul of 1321%. Their Meafure is a Covid, and is 14! Inches in length. Sect. II. 0/ Arabia, The Monies, Weights , and Meafures of Arabia. THE Arabian Monies are called Larins? which want 8 Sols of the Weigh-: of a French Crown. They are at this Time efleemed the An- cient Coins of Afid, but at pre.'e'it are only Current in Arabia. 80 Larins is a Toman, and contains! 50 Abiffis, and they havre a Dollar which they ibmetimes reckon at 60 Afpers; and lbmetimes at 80 Afpers. Thefe Afpers, Dollars, and Chequeens of 1 bo Afpers, or 8 Shillings Sterling, are the only Coins in Arabia. Their Weights. 10 Diams is one Ounce, 24 Ounces is one Rottello. 24 Rottel- lo's is one Fracello, or 24 lb 1 2 Ounces Efiglijh. Their Meafure is the Pico, and is in length about 26\ Inches Englijh. Sec To' Of Money \ JVe'tghts, Meafures^ £xc. 4 1 5 Sect. III. Of the Empire c/Persia. THEIR Money. 10 Bifti, or 4 Shahees, is one Abafhee, or ibd. Sterling 5 24- Sha- hees is one Larin, and 18 Larins is one Tomond ; 5 Abaflees is one Or j and 10 Ors, or 50 Aba- fhees, is one Tomond ; 14 Shahees, or 34- Aba- fhees, is counted to one Rixdollar, or 41. 6 d* Sterling. But the moll current Money of late is as fol- lows : 2 Shahees is a Mamodre 2 Mamodres an Abafhee $ 1 2 Abafhees is one Bovello. They have? another Coin call'd a Calbaghis, which is worth but a fmall Matter more than the Shahee, or 4^/. Sterling. Their Mealures are of two Sorts, called Cavi- does, or Cavidats ; the great one is an Inch longer than an Englifo Yard and the leffer is 4 of the Length of the other, and conforms with the Tur- key Pico. Their Weights. The Maund, or Maundfhaw, for Silk, is 13ft Avoirdupois Weight ; 2-4 Maund- fhaws is one Maundlarrat ufed in weighing Grofs •Goods j 36 Maundfhaws makes a Load or Cargo. For weighing Gold they ufe a Mittigal, 64- where- of makes a Venetian Ounce. For Diamonds, Pearls, Gfc. they ufe the Rattee, which contains 20 Val, 21 whereof are equal to an Engliff: Carrat. Sect, 4 1 6 HayesV Negotiators Magazine Sect. IV. Of the Empire of the Great Mogul, or Indostan. THEIR Coins are the Rupee of Gold, weighing 2~ Drams and i i Grains, which is counted of equal Value with 24 Silver Rupees^ each Rupee being worth 30 d. Sterling : The big- geft of their Copper Money is valued at about 2 d. the middle one at a Penny, and the fmalleft at an Half-penny, which they call a Pecha. Their Weights for Gold. Silver, Mufks, Civets, &c. are called the Toll, which is 1 2 Maries ; the Mafs contains 40 lb. For other Commodities, their common Weight is the Sear, which varies in feveral Parts of Indoftan : In Agra it is two-fold ; the one is 26 Pices, which is 264 Ounces, and the other is 3 o Pices, which is 2 2 lb Avoirdupois. They have alfo Hundred Weights call'd Maunds, 14 Seers to a Maund, being 3 3 ib Englijh ; the Man weighs 69 ib Avoirdupois; but the Man they weigh their Indicoes with, weighs but 53 lb. Their Meafure is the Cavido, and differs in ma- ny Places ; that which is ufed for Silk or Linen is 27 Inches; but in Surrat and Camboia is 18 liv- eries, and in Agra and Delli it differs* P E QJJ E.] In this Place Silver Coins weigh 24- Drams and 12 Grains, and is valued at 20 Sols 6 Deniers of France ; and their little Pieces of Gold, called Fiano's, weigh 7 Grains, 15 whereof are valued at about ij\d. Sterling. S U M M A- Of Mouej // Vights, Meafurej) &c. 4 1 y SUMMATRA.] Here their Coins are the Tale and Mace j the Tale is between 6 and 7 s. Sterling, and the Mace 7 d. and 8 d. Sterling. Their Weight is the Cattee, and Bahars ; 200 Catcees to a Bahar. GO A.] Their Money is a Xeraphim, worth 240 Portugal Reas ; they reckon two Reas to a Bafaraco, 15 Baiaraco's to a Vintin, 42 Vintins to a Tangus, 4 Tangus to a Paru, 24 Parues of 10 Tangus to a Pagoda of Gold, worth between 3 and 4 /. Sterling. Their Weight for Spices is the Bahar $ it weighs 3t Quintals Portugal Weight, Their other Weights for Sugar, Honey, &c. is the Maund of 14 15 Portugal Weight. Their Meafures for Length are the fame with thole of Portugal: Their Meafure for Grain, Rice, &c. is the Medida ; 24 whereof is a Maund, and 20 Maund is a Candel, about 14 Bufliels Englip% CORMANDEL] Money. 36 Famms a Pagoda of Silver, wTorth about 9 s. Sterling ; the Fanam 3 d. Sterling. Their Weight, 20 Maundsa Candy, or 500 ft Rnglifo , and a Maund is 40 Seers of 22 Maces, or 25 /. EngUfl:. BANTA M.] Their Coins are Pieces of Cop- per minted, having an Hole in the Middle to hang them on a String, which they call Petties, 1000 whereof goes to 5 s. Sterling ; but the Merchants keep their Acconipts in Rials Spa?iijh of 4, which pafs current for all Sorts of Commodities. E e Their 4 1 8 Hayes'/ Negotiator s Magazine Their Weights : A Gattee, about 2 1 4t Ounces Avoirdupois, and 100 Cattees is a Pical, or 132 tb Englifh 1 3 Pical is a Bahar, or 369 Tb Englijh. Their Meafure is a Covid, about half a Yard, and their dry Meafure is a Ganting, about 2 1 tb Englifh. S I A M.] Their Coin in Gold is a Piece, which weighs about 18 Grains more than the half French Piftols, and is counted to be worth about 10 s. 7 d. Sterling : Their Silver Coin is about the Large- nefs of an Hazle-Nut, and is worth about 2 s. and 5 d. Sterling. Their Weights is the Bahar, which is of two Sorts 3 the great one contains 200 Cattees of 26 Tails each ; and the leffer Bahar 200 Cattees of 22 Tales ; a Tale being about i~tb Lijbon Weight, Sect. V. Of China. THEY have no Gold nor Silver coined, thev making all their Payments in Lumps of Gold and Silver by Weight, which they denomi- nate by Talents and Meafure. In Trade, every Man carries about him a Pair of Sheers to cut and divide the Money, and Scales and Weights to weigh it ; and they accordingly proportion it to the Value of the Commodities they do buy. Their Gold is reckoned to be worth about 3 /. 3 s. Sterling^ Ounce -y and for their Weights,- which differ much in many Places, fee Page 413, Of Money ^ freights y Meafure sy &c. 419 Sect. VI. Of Japan. THEIR Money is a Piece of Gold, worth about 61. lis. id. Sterling, and they have another Piece of Gold worth about 2 /. 3 s. gd. Sterling, and their Gold is worth about 63 s. Ster- ling per Ounce. Their Silver Pieces are called Ingots, and are of divers Weights, and are worth about 5 s. Sterling Ounce : They have a Cop- per Money which paffes for one Tail a-piece, and is reckoned to be of about the Value of 3-j Dutch Gilders. Their Weights are 20 Mace to a Tail, 16 Tail to a Cattee, 100 Cattees a Fiakin ; a Cattee is a- bout 2 1 Ounces Avoirdupois. Their Meafure of Length is the Tattany, or I- chan of 24- Yards. Their dry Meafure is the Gant3 equal to 6 Coca's, which is 3 Englijh Pints. CHAP. XXIX. Of Africa. Sect. I. Of Alexandria, Cairo, and all Egypt. TH E Coins current in thefe Places, in Gold., are the Sultany, Xeriff and Checkeens : They are all much about the fame Va- luej and are each worth about 9 s% 4 d, 5 d. or 6 da E e z Sterling, 42.0 HayesV Negotiators Magazine Sterling. The Silver current, are the SpaniJJo Dol- lars, and a Coin of the Grand Seignior's, called a Meidin ; the Spanijh Dollar paries fometimes for 30 Meidin, and a Meidin is 3 Afpers ; and the Dollar paffes current at divers Prices, between 80 and 90 Afpers a-piece. In thefe Places Accompts are kept divers Ways. The Natives reckon by Afpers and Meidens ; the Chriftians reckon by Afpers and Dollars of 80 Af- pers ; and fome reckon by Dollars of Pargo, rec- koning 3 Venetian Ducats to one Pargo Dollar. The Italian are commonly reckoned 1 o per Cent. worfe than the Venetian Ducats, Their Meafures for Woollen and Linen Cloth are found to be of two Softs ; the firft is the Pico of Barbary, for Linen and Woollen Cloth, &c. being about 2 57-^ Inches long 5 and the other is the Turkey Pico ufed in the Sale of Wrought Silks, Gold Cloth, and other Stuffs ; and by Obfervation 100 Yards of London has made 165 of thefe Pico's. The Weights in Ufe in Cairo, Alexandria, and generally throughout all Mgypt for Trade, are found to be of four Sorts, viz. lb 1. The Quinta of Zara. which makes] A • j • j ' > 2 1 2 Avoird. in London ------ j 2. The Quinta Forfori, which makes 93 3. The Quirtta Zaidin, - - - - 134 4. The Quinta Mina, - - - - 167 The three firft Quintals are rcckon'd by Rot- tello's j the Mina Quinta in Alexandria is rcckon'd at 20 Ounces, but in Cairo at 16 Ounces. Sect. Of Money, J I eights^ A feafures} &c. 421 S E C T. II. Of Barca, Tripoly, Barbarv, Tun 1 s3 (sc. IN thefe Places they keep their Accounts in Dol- lars and Afpers, 80 Aipers to a Dollar. Their Gold Coins are the Sultany, the Venetian Checkeen, and the Spanift Piftol ; and thefe are often changing in Value according to the Peoples Neceffities, or the Plenty or Scarcity of the fame : The CJieckeen and Sultany fometimes pafs for 19 Spanijh, and the Piftoles at 3 3 Rials ; the firft a- bout 9 s. Sterling, and the laft about 16 s. Sterling. Their common Weight is a Can tar, or 100 lb. and makes in London about 1141b Avoirdupois; They reckon 8 Tamins to an Ounce, and 16 Oun- ces to a Pound. Their Meafure for Corn is the Saw, the Weab> and the Coffice -> they reckon 1 2 Saws to a Weab> and 18 Weab to a Coffice; the Coffice contains about 10 Bufliels Englijh, or a little more than 5 Sacks of Leghorn. Their Meafure for Wine and Oyl is the Meetar \ the Oyl Meetar is twice as big as the Wine Meetara and contains about 5 Englift Gallons. The Meafure for Cloth and Stuffs is a Pico, and is in Length about 264- Englifo Inches: The Silk Pico is -tV fhorter than the Cloth Pico, and the Linen Pico is about i fhorter than the Silk Pico. Sec t, 42a Ha yes's Negotiators Magazine Sect. III. Of Algier, or Argier. N this Place the current Gold Coin is the Sulr tany and Checkeen, valued at about 9 Doubles, and the SpanijloYiixoX, valued at between 15 and 16 Doubles : In Silver, the Dollar or Piaftre, at a~ bout 4 Doubles -3 a Double is valued at 2 Rials, or 20 Afpers, and the Dollar at 80 Afpers. Their Weights is a Quinta, containing 100 Rott or tb, which makes about 120 lb Avoirdu- pois in London ; or 1 1 2 lb Avoirdupois makes a~ bout 94. Rottello's. Their Quintar is of divers Sorts, viz. For Iron. Lead, Yarn, and Wool,? ^ it is lT - - - 5] 150 Rett. For Raifons Butter, Figs, Honey,? Dates, Qyl, Soap, - - - 3 For Almonds, Cheefe, Cottons, 1 1 o Rott. For Flax, ------- 100 Rott. Their Long Meafure is of two Sorts, viz. the T irkifh and Morijio Pico's •> the latter being the Meafure of the Country, and is in length but l of the Turkijh Pico. The Turkey Pico is divided into 1 6 Parts, and every 8th Part is called a Robo 5 and with giving a Thumb in the Yard, according to the Cuftom in England, one Yard hath been found to make ;4- Turkey Pico's, by which all Silks, Stuffs, and Woollen Goods are fold in this Place. Their Meafure for Grain is the Tarri, which when heaped up, as they cuflomary do in mea~ luring, holds about 5 Eng/iJJj Gallons. S. E c T* Of Money, Weights^ Meafures, &c. 4 ;> 3 Sect. IV. Of Or an. f 1 A H E Coins mentioned before in Barbary7 \ and the Coins of tlie oppofite Shores of Spain, are what paffes current here. They have four Quintals in their Weights, viz. A Quintal of 5 Roves, of 2 o Tb to a Rove, 1 00 Tb D \ for Spices, of 4 Roves, of 2 5 1 5 to a Rove, 1 00 lb Ditto for Corn, of 6 Rott. or tb. Ditto for Cotton Wool, containing 15 Rott. 1 00 tb in London makes in the firft 90 Rot-? tello's, in the fecond 133 Rottello's, in the third tor Corn 48 Rottello's, and in the lad 581 Rott. The Meafures of Or an are found to be princi- pally two, viz. the Pico Morifco, and the Bara of Spain, ufed here in Silk, Cloth, and fuch like Goods. Sect. V. Of Una. IN this Port the Coins are the fame as thofe on the Coaft of Bar bar y 5 but in their Weights they differ, having three Sorts of Quintals, viz. One is compofed of the lb or Rottello, one for Wool, another for Spices, and a third is for Corn $ and 100 ib Avoirdupois makes 63 Rottello's Wool- weight, 72 Rottello's for Spices> and 92 Rottello's in their Corn Weight. They meafure their Linen, Woollen, Silks, and all Commodities of the like Kind, by the Morij'co Pico, which is about 26 Inches long, Sect. 4-4 H A Y esV Negociators Magazine Sect. VI. O/Salley. TH E Coins of this Place are as follow, viz. a Gold Ducat, worth about 9 i. Sterling a Blankhil, 48 whereof goes to the Ducat ; and 20 Copper Fluces are accounted one Blankhil ; the Blankhil being a Silver Piece of Money, worth fomething more than 2 d. Sterling. The Gold and Silver Coins of all Nations pafs current here. Their Weights and Meafures are moffly the fame as the Sfanijh. Their Corn Meafure is an Almude, which holds about 5 Englifb Bufhels. Sect. VII. Of F e z z and Morocco. r~|~A H E Monies current here are the Xeriffs and Ducats, worth about 9 s. Sterl. which in counting they divide into eight Parts. In Fezz their Quintal is 100 Rottello's, 64 whereof makes about 100 lb Avoirdupois. In Morocco, their Quintal is the fame of thofe of Spain : The Meafures of both thefe Places for Silk, Cloth, (Sc. is the Cavedo, 12 whereof is rec- koned to a Cane, and 100 Yards of London makes about 181 or 182 Canes. Sect. VIII. Of Gambia, Guiney, Gfa TN thofe Countries they have no Coins among I them, they dealing with the Europeans, and _ among Of Money, Weights, Meafures, &c. 425 among themfelves only by Way of Bartering or Exchange, one Sort of Goods for another, for tri- fling Things of the Product of other Nations, or of the Manufactories of other Nations : They make Payment commonly with fmall Pieces of Gold by Weight, and where they have not the Art of melting it down, they make their Payments in Gold Duft ; and in the Neighbourhood of Mina9 they pay each other with Kacorawns, which is Gold drawn out into a fmall Wire, and cut afterwards into very fmall Pieces. In fome Places they make Payments one to another with fmall Pieces of Iron s ftamp'd with particular Marks. About the River Niger, Fifh-fhells, or Blackmoor's Teeth, goes for Money ; and in /Ethiopia Pepper panes for the fame. When the Europeans deal with thefe People, they commonly make Ufe of their own Weights and Meafures, unlefs it be for Gold -} the Euro- peans do then make ufe of a Weight called an Akey, being the 24th Part of an Ounce. However, fome Authors do fay, that the black People have peculiar Weights to themfelves, which pafs under the following Denominations, viz. A Benda, which is their largeft Weight, and weighs about two Ounces. A Benda-Ofta, is half a Benda, and weighs one Ounce. An Egebba is half an Ounce. A Pifo, or Eufanno, is 4 of ditto, A Seron is ii Pifo. A Quinto is i Pifo. An Agiraque is i Pifo. A Media-Taba is ^ Pifo, And 426 H a y E s Js Negotiators Magazine And it is faid by thofe who have made Trial of the above Weights, that one Pound by their Weight weighs \ of an Ounce heavier than the Pound Troy of London. Their Meafure for Cloth is a Jacktam, reckon'd with us 12 Foot, or 2 Fathom, which they cut the one from the another, and fell their Linen in thofe fmall Quantities but in Woollen Goods, they feldom meafure to one another Pieces above a Hand's Breadth, which they cut for Girdles. CHAP. XXX. Simple Arbitrations: O R, Of Orders and Commissions. TTT is common for Merchants and Dealers in I the Exchanges to fend their Faclors and Cor- refpondents Orders to remit to any certain Place, a certain Sum of Money, at a certain Price, of Exchange, and then to value or draw back again upon fome other Place, at a certain Price, for the Value of the Sum remitted : In Coniideration of which, a fmall Allowance of fo much per Cent, is made them, which is called Provifion, or Com- miflion. Now it frequently happens, that the Price of the Exchange varies, and falls and rifes twice perhaps in a Day ; but commonly there is fome Alteration everv Port; and if the Exchanges be fallen in one of Of Money % U eights, Meafuresy &c. 427 of the Places mentioned in his Commiffion, it perhaps may be rifen in the other. In fuch Cafes, the Factor ought to confider, whether in performing the one Part of his Com- miffion will be fufficient to compenfate the Lofs for the other ; for difcovering of which, feve- ral Operations muft be performed ; and thefe a- mong the Exchanges are called the Arbitrations. And to perform fnch Operations, it is requifite for the Practitioner to underftand what Places gives the certain or fixed Price, and what gives the un- certain Price, in exchanging with other Countries : As for Inftance -y Londo?i always gives the (Pound Sterling) Certain when it Exchanges with Holland^ Brabant, Flanders, and Hamburgh ; but when it Exchanges with France, Portugal, Spain, &c. London always gives an uncertain Number of Pence, which is the uncertain Price, and they give the Certain j as France gives the Crown, Portugal the Milrea, and Spain the Dollar ; and fo confequent- ly, where one Country gives the Certain, the o- ther correfponding Country commonly gives the Uncertain. See the following Examples. A. of Aniflerdam orders B. of Paris to remit to London at 36^. per Crown, and to value him- felf upon him at 61 d. Grotes per Crown ; but up- on Receipt of the Order he finds Paris Exchange upon London at 36 i*/. The Query is, What Price the Exchange of Paris upon Amjlerdani muft be, to make the Value of the Draught upon 428 Hayes V Negotiator s Magazine upon Amjlerdam equal to the Remittance to Loto* don? d. d. If 36 — 61 — 36j- 2 2 73 ) 4392(6oi 12 Anf. Paris muft draw upon Amjlerdam at 6o£ d. Paris orders London to remit at 367 J. and to value himfelf upon Amjlerdam at 34 s. 8 £T L. and with Hamburgh at 32 i j. jfor Dollar, What muft the Exchange between London and Hamburgh be ? Stiv. s. d. s. If 32f - 35 I - 32 2 32 multiply, and take in 2 8 for 32 d. 65 1122 8 65)2245 4( Anfwer, at 34 J. 6^. 523-JL-the Courfe between Hamburgh and 295 London. 35 1 2 65 ) 424 ( 6 34 London 45 o I4ayes V Negotiator s Magazine London negociates with Antwerp at 35 s. per Du- cat, and to Leghorn at 54 d.per Dollar, What muft be the Courfe between Antwerp and Leghorn t s. d. s. If 20 — 54 — 35 35 2 0 ) i89'o Anfw. at 94f Pence, the Courfe be- tween Antwerp and Leghorn. Hamburgh remits to Am ft er dam at 33 Stivers Dollar, and to Venice at 89 Grotes per Ducat, What muft be the Courfe between Amjlerdam and Venice ? If 32 - 89 - 33 33 32 ) 2937 ( Anfw. gi^d. per Ducat, the Courfe between Am- 57 fterdam and Venice % 25 C H A P. XXXI. Compound Arbitrations. J ON DO N may remit to Cadiz at 52 Dollar, and Amjlerdam may remit to the lame Place at 126 per Ducat: The Query is, Which will be the moft beneficial, the Exchange between London and Amjlerdam being at 34*; 10 d. Now Of Money, Heights y Meafures, &c. 43 1 Now the Exchanges to the lame Place being different in this Query, it will therefore require two Suppofitions to refolve the lame : The firft being to diicover the Equality between Amjlerdam and Cadiz with regard to London, and the fecond, to find the fame between Amjlerdam and London with regard to the Exchanges of Amjlerdam. s. s. d. Sterl. s. If 20 * 34 id - 52 52 69 8 1741 8 2^0 ) 1 8 1 1 1 4 Anfwer, 9044 Grofs, the Price of £x^ change between Amjlerdam and Cadiz, per Dollar. Marv. d. If 272 - 90-i-J - 375 90 33750 for 2I2i 272 ) 33962 (Anf. \2\\d, per Ducat. 234 So that Amjlerdam, by remitting by the Way of London at 12^ per Ducat, inftead of remitting diredly at 126 per Ducat, gains by the Negotia- tion, including Brokerage, Prcvifion, &c. about 1 per Cent. By the foregoing Operations, it plainly appears, that Single, as well as Compound Arbitrations, may 43 2 Ha YEsV Negotiators Magazine may be performed by the Rule of Three : But this Method feeming too tedious in Compound Arbi- trations, I will now fhew the Univerfal Rule, much in Ufe among the Merchants and Negotiators of Bills, in their Reductions and Calculations, both in the Exchanges, and in reducing the Weights and Meafures of one Country into another. The Universal Rule. You muft underftand, that this Rule is properly a Series, or Chain of Suppofitions 5 by which, and the Relation that feveral Antecedents have to their Confequents, the Proportion between the firft An- tecedent and laft Confequent is difcovered, as well as the Proportion between the others in their fe- veral Refpedts. Now this Rule muft always be begun by the Species of the Place that gives a certain Sum in Exchange, and of which the Par or Equality is fought : And whatfoever Quantity of Figures are in the Rule of Compound Arbitration, the firft and laft muft always be of the fame Specie ; and a Price of Exchange muft always be fuppofed, when one Perfon is ordered to draw upon another. Or otherwife, the Method of this Rule is as follows, viz. The Antecedents muft be placed in a Column on the left Hand, and the Confequents in another on the Right. The firft Antecedent and the laft Confequent muft always be of the fame Species. The Of Money > // lights, Mcnfnresy &c. 43 3 The firft Confequent and the fecond Antece- dent muft be the fame. And lb the fecond Confequent and third Ante- cedent muft be the fame. And likewife the third Confequent and fourth Antecedent. Which Order muft be obferved throughout the whole. The Terms being thus difpofed, multiply all the Antecedents into one another, and the laft Producl muft be the Divifor. And in the fame Manner multiply all the Con- fequents into one another, and the laft Product muft be the Dividend. The two Numbers being divided by one ano- ther, the Q^odent will be the Anfwer, it being the Antecedent required. Example. London may remit to Cadiz at 52 d. per Dollar, and Amfierdam may remit to the fame Place at 126 d. Grofs per Ducat. The Query is, Which will be the moll beneficial, the Exchange between London and Amfierdam being at 3 4 s. 10 d. per L, Sterling ? Now, by the foregoing Univerfal Rule, this Queftion may be refolved by one fingle Suppofi- tion, or Statin o- faying thus : If 1 Ducat makes at Cadiz 375 Marvedies, if 272 Marvedies ( being a Dollar ) make 52^. Ster- ling at London , and 20 Shillings at London make 34 s. 10 d. at Amfierdam, how many Grotes at Amfierdam will one Spanijh Ducat amount to ? Thefe 434 ^ a Y E s'j Negotiator j Magazine Thefe by the foregoing Rules mull be placed as follows : Antecedents. Confequents. i Ducat of Cadiz worth 375 Marvedies, 272 Marvedies - - - 52 Pence Sterling, 20 Shillings Sterling - - 345. 10 d. Amflerdam y How much at Amflerdam is the Value of 1 Ducat X 272 34 10 20 375 mult. 544]o) 6792510 (Anf. 124-Ji. 13062 6 52' 469 or \ 679250 So that at the Courfe between Amflerdam and London ^ Amflerdam has the fame for 1 24-J G rotes as it muft otherwife have paid 1 2 6 Grotes for ; fo that by negockting through London it gains about 1 per Cent, all Charges exclulive. The fame Queftion done another Way. Now the Beauty of this Rule confifts in this^ fhat many times it may be performed in a Mo- menty by abridging the Term by the Rule of E- quality, founded upon the third Axiom of the firfl Book of Euclid. If from equal Numbers equal Numbers\ be deducted, the Remainder will be e- qual. It is therefore plain, that all the Antece- dents muft be equal to all the Confequents ; and therefore fubftrading from the Antecedents a Quantity equal to that fubftradled from the Con- fequents, the Antecedents and Confequents remain- ing muft be equal among themfelves0> For Of Money, JVetghts, Meafarcs, &c. 43 5 For Example, I ihall make a regular Stating of the bft Qoeflion. Place A. over the Antece- dents, and C. over the Confequents. The fame explained. 375 divided by 5 produces the Confequent 75, and the Ante- cedent 75, and die Antecedent 20 divided by 5 produces the Antecedent 4, and 272 and 52 each being divided by 4 brings out 68 for die Antecedent, and 1 3 for the Confequent % then 68 and 34 10 being both di- vided by 2 brings out the An- tecedent 34, and the Confe- 5)20 - 2)34 10 quent 17 5.5 and thefe being - — - collected out, will (land as un° 4 J 17 5 derneath. 1 Dollar - - - - - 75 Marvedies, 34 Marvedies - - - - 13 d. Sterling, 4 Shillings Sterling - - 17 s. $d. Amfterdam, See the following Operation, s. d. 34 17 5 4 75 A. C. 1 - - 5)375 ^5 4)272 - - 4)52 2)68 !3 34 136 1306 3 — 13 136)1 69 81 3 ( Anfwer, 1 2 44 Grofs ■ i per Ducat. Ff a A Banker 43 6 Ha YE s\r Kegociators Magazine A Banker in Paris remits to his Fadtor in Am- jlerdam 456 Crowns Tournois 5 firft to London , at 56*/. />£T Crown ; from London to at 65^. per Crown of Exchange 3 from Rome to Venice at 100 Crowns of Exchange, for 100 Ducats Banco - from Venice to Leghorn y at 100 Ducats Banco for 100 Dollars of Leghorn \ and from Leghorn to Amjler- dam at 94 Grotes per Dollar. The Qaeftion is. How many Florins Banco the aforefaid Banker will receive at Anifterdam, without including Provi ioa and Charges? Antecedents. Confequents. 1 Crown - - - 5 6 d. Sterling, 56 65 65 d. Sterling - - - 1 Rome Crown, 5 x 100 Crowns Rome - 1 20 Ducats Venice 6 x 1 00 Ducats Venice - x 1 00 Dollars Leghorn, 1 Dollar Leghorn - 94 Grotes Amfterdam, 94 How many Gilders for - 456 Crowns - - 456 456 56 multiplied 94 multiplied 65 2400384 5 6 ' Grotes. 325 ) 14402304 ( Anf. 443*4 1402 Florins 1107 17 Stiver. 1023 1 480 *554 ^ To Of ]\ {om\ freights, Meaftiresy &Tc. 437 To prove the aforefaid Qju:ftion. This Vnherfal Rule, as well as all other Rules, is proved by the Contraries y for which End begin the Poiition of the Proof with the bft Confe- quent of the Rule, and end it with the firft An- tecedent, and the Antecedents will become the Con-* fequents of the Rule. Then multiply by a conti- nued Operation the Confequents for a Dividend, and the like by the Antecedents for a Divifor; then divide, and you'll have the la ft Confequent of the Rule. 94 Grotes - - - 1 Dollar, X 100 Dollars - - #100 Ducats, 6 x 120 Ducats - - x 100 Crowns, 5 1 Crown - 7 - 65 d. Sterling, 56 d. Sterling 1 French Crown, How many Crowns for 443 14 Grotes ? ft 94 6 2880410 Remainder -* — 5 254 564 • 56 14402304 31584 ) 14402304 (456 French Crowns, 000 Another Example. Amjlerdam being to remit to London 750 /. Fie- mifh, he firft fends it to France at 12 Crowns per 5/. Flemifh ; from thence to Venice at ioo Crowns for 100 Ducats; from thence to Ham- burgh at 100 Grotes per Ducat \ from thence to F f 1 Portugal 43 8 H a Y E s? s Itiegoeii i tor's Magazine Portugal 50 Crotes per Crukade of 400 Reas ♦ and from Portugal to London 3000 Rcas per L, Sterling. Now it palling through fo many Places, the Qtfefy is, How much Sterling muft be recei- ved in London for the abqvefaid Remittance, exclu- five of Charges ? 1 L. Amjlerdam - - Crowns French - - 1 Ducat - profs of Hamburgh - Reas oi Portugal - - 3 Crowns, Ducats of Venice ', 20 Grofs of Hamburgh. 8 Reas of Portugal, 1 L.. Sterling i 60 8 Aniwer, 480 /. Sterl. muft be received in Lsndon. An Qbfervatiort upon this Unherfal Rale, with regard to Arbitrations. Now it may beobferved, that this Rule is only a Chain of S tarings, according to the Rule of Pro- portion, by fome called The Rule of Three, in which all the Antecedents muft be equal to all the Con- fequents, when the Term fought is found, which is always the Antecedent of the Term which had none before. It then follows, if the Term fought be put into its own Place, the Product of all the Antecedents will be equal to the Product of all the Consequent >. And therefore this Rule will be found 'very ufcful in difcovcring any Antecedent or Confequert, or in difcovering the Equality of all the Prices of the Eic&angfc. An Of Money , Jf eights, Meajhres^ exc. 43 9 An Example to find out the Antecedent. Suppofe that you would find out the Antecedent of the 400 Reas underneath belonging to the fore- going Quertion. 5 L. Amfterdam - - 12 French Crowns, 100 French Crowns - 100 Ducats Venice^ One Ducat - - - ico Or. of Hamburgh \ 50 Grofs Hamburgh - 400 Reas o£ Portugal, 300 Reas of Portugal - - 1 L. Sterling. How muchSterl. at London for 75c /. Flem. Amjl\ Diipofe of the above Rule as follows, omitting the Antecedent of 400 Reas -y after which abridge -r then multiply and divide, and you will find $o Grotes of Hamburgh to be the /Antecedent. 5 L. Flemifli - - - 12 Crowns, 100 Crowns - - - - 100 Ducats, One Ducat - - - - 10 o Grotes, - ------ 400 Reas, 3000 Reas ----- 1 L. Sterlings 480 L. Sterling - - - 750 L. Flemim. Which abridged will fhnd as follows, yizt L. Amjlerdam - - - Crowns French 9 - - Crowns - - - 25 Ducats, - - Ducats - - - Grofs of Hamburgh, --------2 Reas of Portugal. r - Reas - - - - L. Sterling. - - L. Sterling - ^ - L. Amjlerdam> 2 50 Grotes of Hamburgh die Antecedent required, F f 4 You 44° Ha YE s9 s Negotiators Magazine You may always obferve, that the Antecedent mull always be of the fame Species with the laft preceding Confequent ; and all other Antecedents are found the fame Way. And fuch as underftand thefe Rules well, may with Eafe refolve any Queftion in Arbitration. Now let us proceed to find the Antecedent to i L. Sterling, which muft be Reas, becaufe the Confequent that precedes it is 400 Reas. Antecedents. Confequents.< 5 Amjlerdam - - -12 French Crowns. 100 French Crowns - - 100 Ducats of Venice. 1 Ducat - - - - 100 Gvofs of Hamburgh. £0 Grofs of Hamburgh 400 Reas of Portugal* Reas of Portugal - - iL. Sterling. 480 L. Sterling - - - 750 L. of Amjlerdam. The above abridg'd will ftand as follows, viz. L. Amjlerdam - - 12 French Crowns. French Crowns - - Ducats of Venice. Ducats of Venice - - 2 Grofs of Hamburgh, Grofs of Hamburgh - 5 Reas of Portugal. \j. Sterling of London 25 L. of Amjlerdam: 12 300 2 6co 5 Antecedent to 1 1 Stcrl.is 3000 Reas, according to the " iirft Suppofition. Ta Of Money, JVeights, Mkajures, &c. 44 t To find a Confequcnt. When you would find a Confequent, you arc to take Notice, that it muft always be of the fame: Species with the Antecedent that follows it. As for Example. Suppofe that you would know the Confequent of the Antecedent of 50 Grotes of Hamburgh ; follow the fame Method as you did in the laft Queftion, and you will find the Confequent you feek to be 400 Reas. The Rule being collected and abridg'd as be- fore, will be found to fland as follows, viz. Antecedents. Confequents. L. Anijlerdam - - - Crowns French, French Crowns - - Ducats of Venice, Ducats ----- Grofs of Hamburgh, 50 Grofs of Hamburgh ------- 4 Reas of Portugal - - L. Sterl. of London, 2 L. Sterling London - L. Amjlerdam. There remains 50, a 4, and a 2 ; thefe multi- plied into one another produce the Confequent 400 Reas, which anfwers the Queftion. The like is to be obferved, when the faid TJni- verfal Ride is applied to Weights and Meafures : See the Examples following. An 44 - H A Y E sj Negotiators Magazine An Example for Weights. Suppofe 100 lb of Amfierdam be equal to 100 Tb of Paris, and ioolb of Paris to be 150 Tb in Genoa, and 100 lb Genoa to be 70 lb in Leipfick, and 1 00 lb of Leipjick to be 1501b in Milan : I would know how many Milan Pounds 548 Tb of Amfierdam will weigh ? When abridged, it will ftand as follows, vizi — Amfierdam - - - — Paris, — Pum ----- 3 Genoa, 5 GrfBfftf ----- - 7 of Leipfick, 5 of Leipfick - - , - 2 of M/#w. 25 548 42 14 3 42 25 ) 23016 ( Anfwer, 920^4 of Milan, 16 An Example of Mcafures. An Hamburgh Merchant having Orders to pro- «:.ire 8 1 Yards of Cloth in London at the Rate of n Hamburgh Ells for 3/. Sterling; having forgot the Proportion between the Hamburgh Ell and the :d of London but fays, that 7 Ells of France makes 9 Yards of London, and that 7 Ells of fftjf- *W makes 4 Ells of France, and that one Ell of Holland makes one FI1 - of Hamburgh 5 from thefe Proportion- Of Mb m jy J J Lights, Me a fares, &c. 443 Proportions he would know how much Sterling the (aid Meafure^&tc. 45 3 into Teftoons, at 1 2 Pence a-piece. Groats, at 4 Pence. Half Groats, at 2 Pence. Pence, Half-pence, And Farthings. /// the ^btb Tear of Henry the Eighth. A Pound Weight of Gold of 22 Carats fine, and 2 Carats Allay, was coined into tliirty Pounds by Tale, to wit, into 30 Sovereigns, at 20 Shillings a-piece. or 60 half Sovereigns, at 10 Shillings a-piece, or 120 Crowns, at 5 Shillings a-piece. or 240 half Crowns, at 2 Shillings and 6 Pence, and the King had 2 Carats of fine Gold for Coinage, which yielded him 50 Shillings, And Silver was coined by the fame Indenture of 6 Ounces fine, and 6 Ounces Allay, into 48 Shil- lings by Tale, to wit, into Teftoons, Groats, Half Groats, Pence, Half Pence, and Farthings. In the ^jth Tear of Henry the Eighth. A Pound Weight of Gold of 20 Carats fine, and 4 Carats Allay, was coined into 30 Pounds by the Tale, as in the laft, and the King had 4 Carats, which yielded him 5 Pounds 2 Shillings and 6 Pence for Coinage. And a Pound Weight of Silver, of four Ounces fine, and 8 Ounces Al- lay, was coined into 40 Shillings by the Tale, which raifed the Pound Weight of fine Gold to 36 Pounds, and the Pound Weight of fine Silver to 7 Pounds 4 Shillings. 454 Hayes'j Negotiator s Magazim In the ift Tear of Edward the Sixth, A Pound Weight of Gold of 20 Carats fine^ and 4 Carats Allay, was coined into 30 Pounds by Tale, out of which the King had a great Profit, And a Pound Weight of Silver of 4 Ounces fine, and 8 Ounces Allay, was coined into 48 Shillings ; after which Rate every Pound of fine Silver made in current Money 7 Pounds 4 Shil- lings and the King's Profit on every Pound Weight was 4 Pounds 4 Shillings. And in this Year were coined in Gold two Sorts of Sovereigns, fome went at 30 Shillings, and fome at 20 Shillings, Half Sovereigns, Crowns, and half Crowns. Thefe, with other Coins, the fame as thofe in the preceding Year. In the Tear of Edward the Sixth. A Pound Weight of Gold of 20 Carats fine, and two Carats Allay, was coined into 34 Pounds by Tale, to wit, into Sovereigns, at 20 Shillings a-piece, Half Sovereigns, at 10 Shillings a-piece, Crowns, at 5 Shillings, a-piece, And half Crowns, at 2 Shillings and 6 Pence a-piece, And a Pound Weight of Silver of 6 Ounces fine, and 6 Ounces Allay, was coined into 72 Shil- lings, which Shillings went for 12 Pence a-piece by Tale, of which the Merchant received for eve- ry Pound Weight of fine Silver 3 Pounds 4 Shil- lings, and the King above 4 Pounds Gain. Of A tone) H "eights, Mcnfnres^ &c. 455 //; the 4th Tear JFaghts^ Mcafiires, 8cc. 465 Practice of Clipping. Accordingly by one Warrant dated the 5 November, 1662, another dated the 8 April, 1 663. and a third dated the 24 December , 1663. another Sort, called MilN Money, was firft fabricated to be current in England ; which Money was, and is now coined in the following Manner : Firjl, The Gold or Silver is call out of the Melt- ing-pot into long fiat Bars, which Bars are drawn through a Mill wrought by a Horfe, to produce the juft Thicknefs of the feveral Pieces : Then with forcible Engines called Cutters, which anfwer exactly to the refpective Sizes or Dimenfions of the Money to be. made, the lame Pieces are cut out from the flat Bar, fhap'd as aforefaid, the Reiidue whereof called Sizel is melted again, and then every Peice is weighed, and made to agree exactly with the intended Weights, and afterwards carried to other Engir.es ( wrought fecretly) which put the Letters upon the Edges of the reft with a Graining. The next Thing is the Blanching performed, (that is made white and refulgent by nealing or . boiling.) And Lajlly, Every Piece is brought to the Prefs, which is called the Mill, (wrought by the Strength of Men) and there receives the Impref- fion, which makes it perfect: mill'd Money. And this has been found not only the moft ex- peditious Way of coining Money (for 4 Men bred and ufed to it, will do more than 12 with the Hammer) but the moft effectual to prevent Coun- terfeiting, as well as Clipping, both which the ham- mered Money was fo liable to, becaufe the Tools for refembling the fame were cheap, and eafily made and procured, and the Fabrication thereof may be H h performed 466 Ha yes'j Negotiator s Magazine performed in a little Room, and with lefs coft; fa that Smiths and other Artificers could readily at- tain thereunto. But the Engines for the milled Money are many, and very chargeable, and therefore not fo eafily to be procured. Then the Makers or Ufers of fuch Engines, can- not be concealed without much difficulty -y and the , milled Money of itfelf, being of a much finer Print than the other, requires more Solemnity, Skill and cu- rious Workmanfliip in its Fabrication, and when 'tis finimed mews better the true Colour of the Silver, to diftinguiih its genuine from its counterfeit Pieces > which latter could never be brought to Perfection , nor is liable to be clipped, by reafon of its Thicknefs and Edging. On this compleat milled Money, Anno 1662. is a very fair Crown, having a Rofe under the King's Head Laureate from thence vulgarly called the Rofe Crown, Carolus. II. Dei. Gra. Reverfe Mag. Br. Fra. Hib. Rfx. 1662. the Arms of the four Kingdoms, but Fra?tce and England are quartered together in the firft and fourth Shields, each Shield is crown'd with Cs interlink'd, and St. George's Crofs, Radiant in the Center, and upon the Rim, Decus etTutamen. Another fair Crown Piece of the fame Year, has Carolus II. Dei Gratia, without the Ro/e, ill all other refpe&s like the former. The other Crown Pieces are not fo well ftruck, but have the Year mentioned upon the Rim, and bear the Arms fmgly in four feparate Shields. To this may be added another inimitable Piece, .performed by that curious Engraver Tho??iat Simon, Anno Of Money Weights^ Men pi res, Sec. 467 Anno 1663. who having been defervedly employed in the Mint at the Tower, was not willing to be fupplanted by foreign Competitors ; and tofhew his Art, prefcnted his Majefty with this Piece, which is prelcrved as a choice Medal, not inferior to thofe of the Ancients. As to its Form, it refemblcs the Crown Piece, with this Inlcription on the Rim, " Thomas Simon ct moft humbly prays your Majefty, to compare 11 this his Trial Piece with the Dutch, and if more " truly drawn and embofs'd, more gracefully or- €£ deredj or mere accurately engraven, to relieve " him.' The half Crowns are like the Crowns ; one other has the Year exprefled In Figures upon the Rim. Anno Regni xviii. All the mill'd Money has the King's Head looking the contrary way from the hammer 'd. The mill'd Shillings are neatly ftruck, having the Cs between the four Shields crown'd, with the Arms fingle, and inferibed as the Crown ; upon fome is an Elephant, upon others the Princes Fea- thers under the Head, a third has the Scepters as a Guinea ilamped upon the Reverie, and a very fair Shilling in the laft Year of his Rei°;n. The Six-pence is like the Shilling. The Groat has four Cs interlink'd with a Rofe, Thijl/e, Fleur-de-lis, and Harp in the Vacancies. The Three-pence, Two-pence and Penny, have as many Cs thereon crown'd, and are of the Years 1672, 3, 4, 5, having a Crown for the Mint Mark ; the Inscriptions are the fame as on the larger Pieces, but want the crenel ling on the Edge, which the Six-pence and Shilling have. H h 2 In 468 H a Y E s' s Negocii rtofs Magazine In this Reign, private Perfons had the Liberty of coining Pennys, Half-pennys and Farthings for the Conveniency of Trade. This began Anno 1653. Thefe Pennys, and Half-penny Pieces of Cities, Towns and Villages, generally expreffed the Name of the Place, and Value of die Piece on one Side, and on the other the Arms cf the City or Town, or fome other Device,, as thole of private Perfons expreffed the Town or Street where they lived, their Sign and Trade. They were of different Sizes and Forms, and generally fhamefully light, and continued current till the Year 1672, when the King's Copper Half- pence and Farthings took Place. The five Pounds, three Pounds^ and forty Shil- ling Pieces of Gold. Carolus II. Dei Gratia. The King's Head Laureate Reverie the Arms of the four Kingdoms, fnigle in the four feparate Shields crowned, a Scepter in each of the Vacancies with a Roje, Fleur-de-lis, Tbijlle and Harp at the Points, and the Cs interlink'd in the Center. Mag. Br. Fra. et Hib. Rex. 1673. Upon the Rim, Decus et Tutamen. Anno Regni vicessimo quinto. This King was the firft that coined Guineas and Half Guineas, which he did in his 2 2d Year, and were ordained to go at the Rate of 20 Shillings the Guinea j althor they never went for lb little : Thefe bore the fame Impreflion and Infcription as the five Pound Pieces, except the Rim which was milled. A very neat Guinea in 1672, exactly refembles the five Pound Piece. A third Sort, 1 674, exhibits the Head confidera- bly larger: And a fourth Sort has an Elephant under the Kings Head, being coined of the African Gold. hi Of Money ) JFaghts, Men fares ^ &c. 4^ 9 In the jjl Tear of King James the Second. A Pound Weight Troy of Gold of 22 Carats fine, was coined into 44 Pounds 10 Shillings by- Tale, to wit, into Guineas, Half Guineas, and lar- ger Pieces, which are well (truck, and exhibit his Majefty's Head Laurent, Jacobus II. Dei Gra- tia. Reverfe the Arms iingle in feparate Shields, with the Scepters, but nothing in the Center : Some have the Elephant under the King's Head, being coined of the African Gold. The rive Pound Piece is like the Guinea, but has Dec us, &c. up- on the Rim. And a Pound Weight of Silver of the O/d Stan- dard,, was coined into three Pounds 2 Shillings by Tale, and the Silver Monies current ac this Time, of this King, are of the Years 1685, 86, 87, and 88 in England, and 91 in Ireland. The Crown Piece has his Head in Laureate Jacobus II. Dei Gratia. Reverfe the Arms in four feparate Shields crown 'd Mag. Br. Fra. Hib. Rex. 1688. Upon the Rim, Decus et Tut amen, Gfc The Half Crowns are the fame. And the Shilling and Six-pence the like, ex- cepting the Infcription on the Rim. The leffer Pieces, from the Groat to the Penny, have as many initial Letters of his Name crown'd, as they go for Pence ; but the fame Infcription to a Letter as the Crown Piece. The Tin Farthing and Half-penny have the King's Head, Jacobus Secundus. Reverfe Britannia, circumfcribed Britannia, upon the Rim 1685, Nummorum Famulus. \i h 3 The 47 o Ha ye s \r Negotiator s Magazine The plantation Half-penny of Tin has the King on Horfeback, Jacob. II. D. G. Mag.Bri. Fra. Hib. Rex. Reverfe the Arms in four feparate Shields crown'd, and link'd together, val. 24 part. Real. Hi/pan. His Irijh Half-penny was of Copper, of the like Standard of Charles the Second's by Patent, exhibiting his Head Laurent, infcribed Jacobus II. Dei Gratia. Reverfe a crowned Harp. Mag. Bri. Fra. et Hib. Rex. 1686. There was none of Tin in Ireland, or Copper in E?2gland. Soon after King j antes landed in Ireland, which was in March, he was reduced to fo great a Scarcity of Money, that he was forced to melt old Brafs Guns, and Utenhls of the maft refufe Metal, to coin into Money for the Subliftence of his Army, which was made current as Sterling Silver, by Proclamation the 18th of Jutie, 16895 a Pound of this Metal being worth but 3 Pence of 4 Pence, when coined was 5 Pounds by Tale, and upon recoining the Half Crown, as much more. Of this Sort of Money in jwie 1689, were coined Six-pences, and in the Month following Shillings, and in Augujl following Half Crowns, fomewhat bigger than an Englijh Half-penny ; the Shilling was broader than a Farthing, but not fo thick -y and the Six-pence in Proportion, whereof it has been laid, there were coined between June 1689, and July 1690, about a Million of Pounds, Thefe Pieces were all alike, infcribed round the King's Head Laureat, Jacobus II. Dei Gra- tia. Reverfe Mag. Bri. Fra. et Hib. Rex. a Crown and two Scepters with the Year 1689, or 905 Of Money > JfVights, Mea/hres, &Tc. 47 1 90 ; and the Value VI. XX. or XXX. above, and the Month below the Crown, which is placed between the initial Letter J. R. but there being no Circulation to bring this back into the Treafury, they were called in by Proclamation ; and the half Crown which before was ftamp'd with a Face, was then ftamp'd with the Figure of the King on Horfe- back, and then deliver'd back to thofe that brought them in as Crowns, and the fmaller Pieces were melted down, and recoined under the fame Deno- mination, though with lefs Metal. This Proclamation was fuppos'd to begin April ,1690. For there is to be met with, at this Time, the great half Crown, which by this Proclamation was fabricated to a Crown ; and alfo another, which is not half fo big, of the fame Month : And fo likewife the Shillings for April of both Sizes ; but the large ones, after that Date, are ve- ry rarely met with. Thefe new Crown Pieces had the King on Horfeback, Jac. II. Dei Gra, Mag. Bri. Fra. et Hib. Rex. Reverfe, a Crown the midft of four Shields crowned, Christo Victore Triumpho. Anno Dom, 1690. It is plainly to be difcerned upon many of thefe Crown Pieces, that they were double ftamp'd, there appearing oftentimes upon the fame Piece two Dates, 16S9, which was when they were coined for Half Crowns ; and 1690, when they commenced Crowns. Before King James left Ireland^ even Brafs and Copper failed ; lb that a Proclamation was preparing for the Currency of Pewter Money ; but K. William palling the Boyne hinder'd the publishing of it ; nevcrthelefs fome few were actually coined, and found in the Trea- H h 4 fury 47 - H a y e s V Negotiators Magazine fury of Dublin ; the Fafhion, Size, and Infcription of which were the fame with the Brafs Crown, with this Legend added on the Rim, Mel i or is Tessera Fati. Anno Regni Sexti. Thefe are fo very rare, fays an ingenious Author, there being but few coined, that I never heard of any, nor met with any Perfon that faw any, but the few mat accidentally fell into his Hands. The fame Year, another Author conjeclures, there were coined Pennies of Lead, having behind the King's Head i*\ round it Jacobus II. Dei Gratia. Reverfe, Mag. Br. Fra. et Hib, Rex. with a crown'd Harp between 60 and 90 ; the Half- penny the fame, but without the Value fet upon it, After King James left Ireland, there was ano- ther Sort of Brafs Money coined at Limerick y called Hibernians, with Jacobus II. Dei Gra- tia. Reverfe, Ireland, reprefented by a Woman, with her left Rand leaning upon a Harp, and in her Right holding a Crofs, Hibernia 1691. King William and Queen Mary. The Gold Monies of this Reign was coined of Crown Gold of 22 Carats fine, and two Carats Allay, and this into Guineas, half Guineas, and larger Pieces. The Guineas with both their Heads. Reverfe, the Arms in a fingle Shield crown'd. Thofc of the King alone have the four Shields crown'd, Scepters in the Vacancies, and an Orange in the Center. Thole coined of African Gold have an Elephant under the Head. There are alfo very fair five Pound Pieces with the fame Difference, fa V Of Money, Wights, Meafures, 5cc. 473 In this Reign the Guinea, which was firfl or- dained to go at 20 Shillings, and 10 Shillings die Half Guinea; the Guinea was current at 30 Shil- lings, and the Half Guinea at 15 Shillings, by rea- fon of the Badnefs of the Silver Money, which was fo exceedingly counterfeited and clipp'd, that the common People would take Guineas almofr. at any Rate, rather than be troubled with the Hazard and Vexation of the Silver Money. The current Scots Coins. Since the Reign of Charles II. all the Pieces re- lating to the Mark have been difcontinued, and there have been coined' 1, 5, 10, 20, and 40 Shillings Pieces. The 40 Shillings Piece has 40 under their Majefties Heads; Gulielmus et Maria Dei Gratia. Reverfe, in a Shield crown' d, the Arms of Scotland in the firft and fourth Quarters, France and England in the fe- cond, Quarterly Ireland in the third, and Orange in the Center. Mag. Br. Fr. Hib. Rex et Regina. 1 69 1 . Upon the Rim, Protegit ET ORNAT. ANNO REGNI TERTIO. The 1 o Shillings Piece has V. below the Heads. Reverfe, inftead of Arms, is W. M. in a Cypher under a Crown, The Babee hath their Heads quite furrounded with this Legend, Gul. et Mar. D. G. Mag. Br. Fr. et Hib. Rex et Regina. Reverfe, the- crown'd Tbzjile, Nemo me impune la- cessit. 1692. The Bothnzell, inftead of the Heads, has a crown- ed Cypher ( W. M. ) D. G. Mag, &c. Reverie, the, fame as the Babee, Of 474 HayesV Negotiator j Magazine Of King William alone, the 10, 20, and 40 Shillings Pieces have the Number under the King's Head Laureat , infcribed, Gul i elm us De i Gra- tia, and Reverie, Mag. Brit, et Hib.Rex. Arms as before. * Upon the. Rim of the 40 Shillings Piece, Pro- TEGIT ET ORNAT. ANNO ReGNI SEPTIMO. The 5 Shillings Piece has 5 under die King's Head, Gul. D. G. Mag. Br. Fra. et Hib. Rex. Reverfe, the branch'd Thijlle crown'd, Nemo, &c. 1696. The fame on both Sides the Babees but the ffliftle is iingle headed, as it is alfo upon the Both- wellsy but they have his Name at large. The Englifl; Stiver Monies current of William and Marv. Their current Silver Monies are from a Crown to a Penny. The Crowns and half Crowns have both their Majefxies lide Faces looking the fame Way ; that of the King Laureate Gulielmus et Maria Dei Gratia. Reverfe, the four Shields of Arms crown'd, the Arms of Orange in the Center, the Date of the Year about it, and W. M. interlinked in the Quarters, Mag. Br.Fr. et Hib. Rex et Regina. with Decus, &c. upon the Edge. } Another Sort hath Arms in a fingle Shield crown'd 1689. and France is put into the laft Quarter of Arms. Another, the Arms of France and England quar- terly in the firft and fourth Quarters. The Shillings are very neat, like the Crowns, with W. M, interlink'd in the Quarters. The Of Money, Weights y Men fares, £vc. 47 5 The leffer Pieces, from the Grout to the Penny, are diftinguifbed by the Figures 1. 2. 3. and 4. crown'd. The Half-pennys and Farthings have their Ma- jefties Heads, the lame as the Crowns, Gfc. with Gu li elm us et Maria. Reverfe, B ritannia, and under it the Date. The Tin Half-pence and Farthings, called White Half-pence, and White Farthings, were the fame as the Copper ones, and upon the Rim, Nummo- rum Famulus. 1690. But this Metal being very frequently counterfeited in their laft Year,Half-pence and Farthings were coined again of Copper. The Money of Kng William, after the Death of Queen Mary, differed in having only a fingle Head^ Gulielmus III. Dei Gratia. Reverie, Mag. Br. Fra. et Hib. Rex. 1696. It is very much to the Honour of this King, that he removed the greateft Abufe in Money that was ever known in England, at a Time of the greateft Danger and Ex- pence, with very little Grievance to his Subjects, by recoining the Money that had been clipp'd, to that Degree, that an half Crown would fcarce weigh down a Shilling. For this Purpofe, befides the Mint in the Tower, where fix Prefles were wrought, there were other Mints erected in the moft popu- lous Towns and Trading Cities, viz. York, where alone was coined 312520 Pounds Sterling; Che- fter, Norwich, Briftol and Exeter, to prevent the Inconveniencies that might happen to Trade in the mean Time: And from the Year 1691, to the 14th of Auguji 1697, tnere was no feft than eight Millions, four Hundred Thoufind Pounds of this clipp'd and hammer'd Money brought to the fe- 47 6 Ha yesV Negotiators Magazine veral Mints in London and die Country. The Pie- ces coined at the faid Places are mark'd with the initial Letters of the Cities, Anno 1696, 1697, as T for Fork, C for Chefter, &c. In other Refpecls the feme as the London Shilling, &c. the fmall Pieces having the Value exprefs'd by Figures, as before- mention'd. There was alfo in the 13 th Year of this King Half Crowns, Shillings, and Six-pences of Sir Car- bery Price, or Sir Humphry Mackwort/fs Mines in Wales , with the Feathers betwixt the Shields : Like- wife there was Six-pences with the Rofe in the Quarters, being from the Mines in the Well; of England, which wras coined for a Trial, Anno 1699, but would not anfwer, each Shilling {land- ing the Proprietor in five Groats. The Copper Half-pence and Farthings have the King's Head Laureate Gulielmus Tertius. And Reverfe, below Britannia, thsYear. Queen Anne. The Gold Coins of this Reign are Guineas, Half Guineas, and larger Pieces 5 thefe larger Pie- ces are feldom to be met with, excepting in the Clofets of the Curious. And the Silver Monies of this Queen are from the Crown Piece to one Penny ; all which Coins exhibit her Majefty's Head, Anna Dei Gra- tia. On the lUverfe Side, the four Shields of Arms crown'd, and the Crofs of St. George Ra- diant in the Center, Mag. Bri. Fr. et Hib. Reg. the Date. The Gold Money have the Scep- ters added ifl the Quarters } and the Crowns and Of Monty, freights , Mcafuresjtte. 4^7 Half Crowns, which arc of Silver, have on the Edge, or Rim, Decus rT Tut amen, £cc. The lelfer Pieces, Vtx. the Groats, Three-pences, Two-pences, and Pennies, have the Figures, i5 2, 3, 4, crown'd, denoting their Value. Belides thefe are Six-pences, Shilling, and Half Crowns, with Vigo under the Queen's Head, be- ing of the Silver brought from thence. The Welch Half Crowns, Shillings and Six-pen- ces of Silver, have the Prince's Device in the Quar- ters between the Shields, 17C4, Anno Regni Tert to. And the like Pieces there are of Silver with the Rcfe and Feathers interchangeably in the Quarters : Thefe are called the Quakers Money, from fome of that Seel that were Proprietors of the Mines. The Money coined after the Union has the Arms of England and Scotland impaled in the firft and fourth Shields, France in the fecond, and Ire- land in the third. There was likewife Half-pence and Farthings of two different Kinds, Aiino 17 13, and 17 14, of fine Copper ; but there were fo very few of thefe coin'd, that they are prefer ved as great Rarities, (I having known one to be fold for Half a Gui- nea.) On the one Side is reprefented her Majefty's Plead, Anna Dei Gratia. On the reverie Side, B r 1 t a n n 1 a , circumfcrib'd Britan n i a 1713, the other, 17 14, has the Date under Bri- tannia. Kin? George the Firfl. o O J The Gold and Silver Monies go under the fame Denomination, ana are current at the fame Value as 47 S HayesV Negotiator s Magazine as thofe of Queen Anne's. The Money of this King have his Majefty's Head Larueat, Geor- gius D. G. M. Br. Fr. et Hib. Rex. F. D. Reverfe, Brun. et L. Dux. S. R. I. A. Th. et El. The four Shields of Arms crown'd, and the Crofs of St. George radiant in the Center. The Arms of England and Scotland are quafter'd together in the firft Shield, Frdnce in the fecond, the Arms of Brunfwick, &ct in the third, and of Ire- land in the fourth. The Welch, Quaker, and Scotch Shillings, with an E under the Head, being coined at Edinburgh, have the fame Marks on the late King's, as well as on his prefent Majefty's Coins, as they have had upon Queen Anne's, by which they may be known. The Monies of his prefent Majefty's are the fame as his Father's, his Head Laurent looking the contrary Way, Georgius II. Dei Gra- tia. On the reverfe Side the four Shields of Arms crown'd, with the Arms quartered the fame, with St. George's Crofs radiant in the Center, M.- B. F. E. H. Rex. F. D. B. Et L. D. S. R. I. A. T. et E. 1727. The Monies of our late Kings being fo very common at this Time, it is altoge- ther needlefs to give any farther Account of them, and therefore will conclude with one Obfervation from Nummi Britannici Hiftoria wherein it lays, That from the Beginning of Queen Anne's Reign, to the Year 1724 inclufive, there has been coined in Great Britain, above ten Millions of Gold, and five Jiundred Thoufaud Pounds Sterling of Silver. 7h> Of Money, freights, Meafures, &c. 479 The prefent Standard and Weights of the Englifh Gold and Siher Coins. Gold Coins. The Gold is 22 Carats fine, and 2 Carats Allay: And the Weight of a Guinea is 5 Penny Weights, and 9 Grains : So that an Ounce of Gold of the prefent Standard, when a Guinea is valued afc 2 1 Shillings, is worth 3 /. 185. id. And one Pound Weight of Gold is worth about 46/. ijrir. Sd. tW. Silver Coins. The Silver is at this Time 1 1 Ounces, 2 Penny Weights line, and 18 Penny Weights Allay. And the Weight of a Crown, or 5 Shillings Piece, is about 19 Penny Weights, 8,516112 Grains of Standard Silver. And the fmaller Pieces of Gold and Silver Coins are of the fame Finenefs as thofe above-mention'd, and bear a proportionable Value in Weight and Price to the Guineas and Crown Pieces. FINIS. BjR. HAYES, Accomptant, &c. In Queen-ftreet, near Cheapfide, Lately removed from Princes-ftreet, near the Bank of England, AR E Taught, at reafonable Rates, with the utmoft Expedition, Accompts in General, and Arithmetick in all its Branches, in a more Practical and Mercantile Manner, and after a Peculiar ', New, and Concife Method, different from the ufual Practices of Boarding-Schools and com- mon Writing- Schools, which of late go under the Name of Academies. Alfo He teaches all the comm on. Hands for Bufinefs. The Weights of Paris, and other Places of France, bciny almoll equal to thofc of Amfterdam, chey arc all comprehended under thole of Amfler- iam. For the like Reafon, thofc of Noremburg arc comprehended under the Weights of Frankfort. A TABLE of the Conformity of Weights of the mod: confiderable Places in Europe one With another, as fet forth by a late French Author in Amfterdam. N. B. By Obirvations at the Cuftom-houfe in London, 100 lb Dantzick Weight makes 961b Avoirdupois in London, 106 lb of Germany maty 1 1 2 lb in London, 104 Dutch Weight makes 1 12 lb in London, and the Weights of la/yare commonly between 23 and 25 per Ccfit. lighter than Avoirdupois Weight of London. roo ll>. [00 II). 100 lb. 1 00 II). 100 II). 100 lb. 10') II). 100 II). 100 II). 100 lb. too II). 100 lb. 1 00 lb, 100 II). 100 lb. 100 lb. 100 Ik 100 lb. 1 )0 II). 100 lb. at Amjltrd. Paris, &c. at /tiitwrrp at Rouen at I. ions al Rochtl at Tholouft at Marfeillti at ( 11 in va at London at Hamburgh at Frankfort at / ,•//-//, 4 at Qtnoa m Ltghorn .u Milan at / '«•»;/ 1 at Naples it Spain at Portugal at /.,•//.• I braOfi/i. Pi ovence Li or or Rouen Lions Rochel Thai lufe or Geneva London Hamburg Frankfort \ ' C TIM Itgb em Milan Vta Nap/a > & Lid Atnjlcrd. f/lt ■ 1 MarfeiUt Hall Cat iix +k 0/ ID rk 07 ID 1 ■ tb oz ife or. tb or oz. n 4k iw To 07 Id m: IB 0/" ID 07 44- n ID cz ft 1 OZ. H- ID 07.. tb ox, 44- lb 07.. 1b o / rb 07.. !h oz. ICO 00 105 c 8 96 04 Il6 00 99 CO 118 00 1 3 1 08 1 - j (JO 89 00 1 09 08 98 00 1;J CO 1 1 c '45 it* 00 1 ( . » 00 19 00 1 O 1 14 Oo 04. I 2 1 00 00 91 04 I 10 00 93 13 1 1 1 12 117 00 8j. oc in; 1 -) ^6 °io 92 13 99 08 I. 2 02 ion 06 r59 °3 1 57 T 1 00 08 109 Co 1 04 OO 1 09 1 2 100 00 I 20 08 102 15 122 1 1 128 08 92 09 1 13 '4 10 00 I< > 00 150 r3 174 1 1 172 r 175 1 ; I 10 04 1 19 00 86 00 90 J ? 82 12 100 00 85 02 101 08 76 08 94 °3 7 1 04 e)4 90 05 12 i 00 1 24 '44 08 142 1 91 °3 98 08 101 00 106 0^ ')7 03 '17 00 ICO cc "9 03 I 24 I 2 89 14 103 00 99 OO Ifl 08 °5 169 1 1 170 107 "5 10 84 1 2 89 of 81 08 98 05 »3 '5 100 00 1 04 I I lb W 92 0& 86 07 03 00 91 08 t: J 02 1 22 142 06 1 ; 1 1 1 89 »3 97 00 81 00 85 08 78 00 94 00 80 03 95 09 1 00 00 7 2 00 88 1 1 82 10 87 08 r: [ 08 1 1 7 1 17 07 136 01 1 34 08 136 14 85 •3 92 12 1 1 2 c6 1 1 8 cc. 105 00 130 05 III 06 132 09 I 28 04 r ? > on 110 02 119 00 1(8 09 lb 1 188 »3 186 oS 189 14 1 [9 02 128 08 91 08 96 08 88 00 ic6 00 9^0 ©9 107 1 1 I I 7 00 8l 07 IOO OO 96 01 '.'i? °4 1 a 1 1 *53 1 1 1 c 2 r. 154 10 97 00 104 »3 98 00 103 06 94 04 "3 10 97 CO IJ5 10 121 00 87 04 107 05 100 00 96 00 102 15 1. .7 00 142 02 164 10 162 1 1 167 10 103 »3 1 1 2 04 102 00 107 08 98 03 118 05 101 CO 120 06 126 OO 90 12 III II 104 00 IOO 00 107 01 if 3 00 »47 *4 171 06 169 05 172 06 108 02 1,16 J3 95 °4 100 oc 91 12 1 10 c8 94 C4 112 06 I17 12 84 12 104 05 96 02 93 °5 100 00 1 »3» 01 100 00 158 02 161 00 101 00 l A) 00 66 ; 70 05 64 00 77 05 66 co 78 10 82 05 59 05 73 00 68 00 64 05 70 00 ICO 00 96 1 1 1 12 00 I 10 1 1 1 1 a ii 70 76 J5 69 00 72 12 66 06 114 »3 68 05 81 06 85 04 61 06 75 09 70 06 67 10 72 08 103 08 too 00 Il6 00 HA 08 1 16 09 73 00 79 UP 59 °8 62 12 57 04 69 00 58 14 7o 12 73 08 53 00 65 03 60 1 1 58 05 62 08 *9 04 86 04 IOO r 98 12 100 08 63 Oo 68 02 60 00 63 06 57 12 e9 ic 59 06 70 13 74 02 53 c6 65 11 61 03 5« 13 63 00 c ) 00 87 00 IOO '3 IOO 00 ioi 06 63 09 68 59 00 62 04 57 00 68 07 58 c6 69 10 72 14 52 08 64 10 60 02 57 '3 62 00 i J 08 85 08 99 98 00 IOO 00 62 08 67 09 94 08 99 12 9i 00 109 IC 93 c9 in 08 116 11 84 02 103 07 96 06 92 10 99 04 ( 12 '37 00 158 12 156 H 159 12 100 00 108 03 87 08 92 00 84 04 101 08 96 IC 103 04 108 CO 77 '4 95 04 89 04 85 12 91 J3 13 04 126 '3 '47 145 04 148 00 92 12 IOO .00 V 05 00 100 03 9i 07 1 10 03 94 00 112 CO 117 05 84 08 104 00 96 14 93 00 99 12 t 08 *37 12 '59 09 157 I 1 160 10 100 09 108 12 • The Ell of Noremburg is equal to that of Amfierdam-, the Ell of Ofna- burg to that of England; and the Ell of Bern, Bafil, Sec. to that of Ham- burgh. A TABLE of the Conformity of Long Measures o , moft confiderable Places in Europe, as fet forth by a late French Autl a Amfierdam. N. B. By Obfervation a- the Cuftom-houfe in London^ 100 Auns of Flanders and Holland\nkcs ^84 Ells EngUJh in London, 100 Auns of Germany and the Eaft Countries 49 Ells in London, 100 Aihin from Ruffia 57 Ells in Lon \ and 100 turkey Pico's 43 'T Ells in London. 100 Ells of Holland 100 Ells of Brabant 100 Ells of England, and France, Sec. 1 00 Ells of Hamburgh, Frankfort, Sec. 100 Ells of Brejlaw 100 Ells of Dantzkk 100 Ells of Berguen 100 Ells of Sweden 100 Ells of SV. Grt// for Linen 100 Ells of S/. Grf// for Woollen 1 00 Ells of Geneva 1 00 Canes of Marfeilles and Montpelier 1 00 Canes of Tholoufe 100 Canes of Gd'Wrt of 9 Palms 100 Canes of Rome 100 Yards of England 100 Yards, or Bara's, of Spain 1 00 Bara's of Portugal 100 Cavidoes of Portugal 100 Braces of Venice 100 Braces of Bergam 1 00 Braces of Florence, Leghorn, Sec. 100 Braces of Milan r, Ells ol Hol- land IOO I O I v 171 80 89 90 86 .116 894 1664 286 266]. 327 303 j33t 125 1 64 100 98 95 854 Ells of bant IOO l66T 82' 79 873 89 84 1 144. 1641 282* 2634. 323 299f "34 162 984 9<4 934 844 77 hlls of J Us of Eng- I'a/x* Ells of land, b,rgb, Bre- France F ank- flaiu Sec. ft I 5K I20 60 1*4 1264 IOO 2054 2i3t 484 100 io4f 464 96 IOO 52 & I "I 108 1 124 504 Io3; 1074 67^ m\ 145 524 obf 1 1 14 974 200 2084 ^74 343f 3574 156 320 3334 3924 4084 *774 3^34 3784 7« 160 166I 73t 150 1564 96 196* 205 584 120 125 524 11 yj 1224 554 114 1 1 84 50 1024 1064 454 934 974 Ells of Dant- zkk 1424 114 1924 924 894 IOO IOI4 964 i3°4 1004 1874 3214 300 3674 34o^ 150 1404 1844 1 124 1044 1064 964 874 Ells of Ber- guen I IO nit 188 9i4 88 98 100 944 1274 984 1834 3H4 !934 3594 333t 1464 *374 1804 1 10 1074 1044 94 854 ;iis0f 117 1184 200 974 934 1044 1054 IOO 1354 1044 l95 3344 312 3824 4544 156 1464 1914 117 "5 Illf IOO 914 Linen Ells of StGali 86 87 147 714 681 7^4 774 74 100 764 H34 246 229 2814 2604 1 144 1074 141 86 844 814 734 67 Wool- en Elis o;' St. Gall 112 "34 i9J4 9r4 894 994 1004 96' 130 100 J3o4 3204 2984 3664 3394 H94 140 1834 112 1094 1064 954 874 Ellso! Gene- 60 604 IO24 50 48 53s 54 5i4 694 531 100 1714 160 i96f 1814 80 75 944 60 584 57 54 464 Canes oi'Mar feilles 35 354 594 29t 28 3*7 3i4 307 404 3i4 584 IOO 934 1 144 116 46: 434 574 35 344 334 30 274 Canes oi Tho- loufe 37i 38 647 34 30 334 33l 324 43 r 33r 624 I07I- 100 1224 113J 50 46J 374 36} 354 32 2 91, Cncs oGe- •54 ]'44 27t *74 354 ! 27r 874! ' 814 IOO 024 40 \ 387 5° Pi ,294 29 26- 2 34 Canes of Rome 33 334 5^1 27l- 264 2 94 29 +■ 28 1 384 29r 55 944 88 108 100 44 44 54t 33 324 3if 28f 25^ Yards Cavi- Yards Bara's does of Braces ofEng- Bara's of/V- Portu- of Ve- land of Spain gal nice 74 80 6l IOO 102 76 8l 6l4 IOl4 I034 1284 1364 IO44 171 x74t 62'- 654 504 834 85 60 64 484 80 814 661 714 54r 89 9°4T 674 72 55 90 9X4 644 684 524 86 874 87 924 704 54 r 116 1 18 j 67 714 894 9Jt 1244 !334 101; i66J. 170 2914 2144 2284 1 744 1624 286 1994 2 I 3 f 2664 272 2454 2614 1 9 pi 327 3334 2274 2424 i«44 303 3°9 IOO 108 814 J334 136 92 IOO 764 125 1274 123 IOO 164 1674 75 734 80 61 IOO 102 78J 594 98 100 724 76 5« 95 97 657 684 527 85 r 87f 584 62 1- 474 78 79i Braces ofBer- garn, Bo- logne 1054 106 179 884 84? 93\ 944 9o4 122 94 I72j 301 280] 3447 3'9 1044 134 I725 1054 1037 100 95 82'- 9m ifl 5W H I