Tables of foreign exchanges: and weights and measures of the principal trading places in Europe equated: with remarks on decimal currency (Google eBook)

Front Cover
1862
0 Reviews
  

What people are saying - Write a review

We haven't found any reviews in the usual places.

Related books

Contents

Popular passages

Page iii - I shall presently speak more at large. 10. Of Exchange. The relative abundance and scarcity of specie in different countries forms what is called the course of exchange. Exchange is a fixing of the actual and momentary value of money. Silver as a metal has value like all other merchandise, and an additional value as it is capable of becoming the sign of other merchandise. If it were no more than mere merchandise, it would lose much of its value. Silver, as money, has a value, which the prince in...
Page 156 - America being 109|"§ per cent, it follows that the exchange is 1-08 per cent. against England; but the quoted exchange at New York being for bills at 60 days' sight, the interest must be deducted from the above difference.
Page iii - ... the money of other countries. This relative value is established by the exchange, and greatly depends on its positive value. It is fixed by the general opinion of the merchants, never by the decrees of the prince; because it is subject to incessant variations, and depends on a thousand accidents. The several nations, in fixing this relative value, are chiefly guided by that which has the greatest quantity of specie. If she has as much specie as all the others together, it is then most proper...
Page 210 - To multiply a decimal by 10, 100, 1,000, and so on (such numbers are called powers of 10), we move the decimal point the same number of places to the right as the number of zeros in the power of 10.
Page iii - ... us, there will be a balance against us, which we must necessarily pay ; in order to which, the demand for the money of that nation, or its bills of exchange, becomes greater among us than the quantity to supply that demand, which raises the value of their money or bills, and lowers ours ; or in other words, puts the price of their money above par, and ours below it, which constitutes...
Page iv - The course of exchange is always fluctuating, sometimes under, and sometimes over the par of exchange, and is chiefly governed by the balance of trade being for or against the negotiating parties; so that when the exchange is above par, the balance of trade is certainly against them, and when it is under par.it is consequently in their favour. If London ships to Hamburgh merchandise ro the amount of 500,000.'.
Page 156 - York being for bills at 60 days' sight, the interest must be deducted from the above difference." The real par of exchange between two countries is that by which an ounce of gold in one country can be replaced by an ounce of gold of equal fineness in the other country.
Page iv - BILL OF EXCHANGE is a written order delivered in one place for value received there, (according to the rate of exchange agreed...
Page iii - ... the value of their money or bills, and lowers ours, or, in other words, puts the price of their money above par, and ours below it, which conftitutes what we call the courfe of exchange. From thefe two confiderations we may naturally infer, i.
Page 153 - J pounds currency =100 pounds sterling. To reduce this currency into sterling, multiply by 3, and divide by 4. In Delaware, Maryland, New Jersey, and Pennsylvania...

Bibliographic information