QUESTIONS.

1st. How much sugar, at 9d. per lb. could be bartered for 64 Cwt. of tobacco, at 14d. per ib. ?

It is plain that the 64 Cwt. of tobacco, at 14d. per. b. must produce the same sum as the quantity of sugar demanded (which I call r) at 9d. per lb. considering then the causes and effects, we form the proportion, 6¿C. × 14d. : 1 :: ≈ C. × 9d. : 1, and`a = 10C. Ogr. 12 lb.

NOTE. You must carefully observe that the compared quantities are to be of the same kind. The following question will shew the necessity of this remark, and point out the operation to be performed, when the two quantities are of different kinds.

2nd. How much rice, at 28s. per Cut. must be bartered for 3C. of raisins at 5d. per 16?

1st find the price

You may work it in two ways. of a b. of rice expressed in cents, or 2 ly. find in shillings and parts of shillings, the price of a Cwt. of raisins, which will give the two following proportions, both leading to the same result.

C.

d.

C. d.

C. gr.

1st. 35: 1 :: г × 3 : 1 & x = 5

C. gr. lb.

2nd. 3x (46-8): 1 :: × 28;1&a=5-3-94!

The result is much more speedily come at by the first than by the second proportion;-Practice will discover the shortest way in the different cases.

3d. How much sugar at 8d. per lb. must be delivered for 20C. of tobacco at 3£. per Cwt? Ans. 16C. Ogrs. 8lb.

4th. A gives B 250 yards of drugget at 1847. per yard, for 3084/6. of pepper: I demand what the pepper stands him in per 16? Ans. 15d.

5th. A has linen cloth worth 20d. an ell ready money, but in barter he will have 2; B has broad cloth worth 14s. 6d. per yard, ready money; at what price ought the broad cloth to be rated in barter? Ans. 17s. 43d.

6th. A has 320 dozen of candles at 9s. per dozen, for which B agrees to pay him 60 L. in cash, and the rest in colton at 167. per ib. how much cotton must B give A ? Ans. 1280lb.

7th. C has candles at 12s, per dozen, ready money, but in barter he will have 13s. per dozen; D has cotton at 134. per lb. ready money; what price must the cotton be in barter, and how much must be bartered for 100 dozen of candles? Ans. The cotton at 1914. per lb. and 300b. must be given for 100 dozen of candles.

8th. A barters 40 yards of cloth at 7s. 4d. per yard, with B, for 2846. of tea, at 11s. 6d. per lb. which must pay balance, and how much? A 1£. 14s. 5d.

EXCHANGE.

Ans.

Payments being commonly made by letters of exchange from one country to another, the rule of exchange, which is nothing else than a rule of three, has for its principal object to determine from the

Y

course of exchange,* the value which a sum received in one country, must have in another.

Having only in view to make the rule known, we shall confine its application to the exchange between the state of Maryland and England; But in order to understand the following questions, it must be observed, that the pound in these two countries, though subdivided into an equal number of shillings and pence, yet has not the same real value ;-100 English pounds amount to 1663 pounds, Maryland currency; this ratio is what they call the Par;-The course of exchange is seldom at that rate, being almost always either higher or lower; and, supposing it to be at 163 or 168, it is said to be simply 63 or 68.

QUESTIONS.

1st. Baltimore is indebted to London 1474£. 16s. currency; what sterling sum must be remitted when the exchange is at 64 per cent.

It is evident that we have the proportion 164: 100 :: 1474£. 16s; the answer 899£. 5s. 44d.

2nd. London receives a bill of exchange from Baltimore for 943 £. 17s. 54d. sterling; for how much currency was it drawn, exchange being at 64 per cent? Here we have the proportion 100: 164:: 943 £. 17s. 54d: The answer 1547 £. 18s. 111⁄2d.

* To convev a perfect knowledge of every circumstance incidental to exchange, it would require a detail rather long; a verbal explication from the profeffor will easily make up any deficiency.

There is a compendious and ready method of finding out in such a case the fourth term of the proportion.

Divide the second term by the first, and multiply the third by the quotient, the division is easily performed, as below, by considering the second term of the proportion as composed of cents and aliquot parts of cents; we have then here

plication is done by the aliquot parts, as follows":

3d. How much sterling is equal to 1341 £. 9s. 43d. Maryland currency, exchange at 67 per cent? Ans. 800£. 17s. 6d.

4th. In a settlement between C of Baltimore and D of London, C is indebted 750£. 25. 4 d. sterling, what sum Baltimore currency is equivalent, exchange at 78 per cent? Ans. 1335£. 4s. 24d.

CONTRACTION.

When exchange is at par, then the questions are very easily solved; because we find that 1663 are

exactly the above 100;-Then to reduce sterling to Maryland currency, it suffices to add to the given sum, the of the same; and on the contrary to bring Maryland currency into sterling money, you must take the of the given sum; for, 100 are exactly the of 166%.

QUESTIONS.

5th. What sum, Baltimore currency, will be equal to 345.£. 13s. 6d. sterling, exchange at 663? Ans. 576£. 2s. 6d. currency.

6th. What sum sterling, will be equal to 736£. 3s. 9d. Baltimore currency, exchange at 663? Ans. 441£. 14s. 3d. sterling.