The merchants mappe of commerce wherein, the universall manner and matter of trade, is compendiously handled. The standerd and currant coines of sundry princes, observed. The reall and imaginary coines of accompts and exchanges, expressed. The naturall and artificiall commodities of all countries for transportation declared. The weights and measures of all eminent cities and tovvnes of traffique, collected and reduced one into another; and all to the meridian of commerce practised in the famous citie of London. By Lewes Roberts, merchant. Necessary for all such as shall be imployed in the publique affaires of princes in forreigne parts; for all gentlemen and others that travell abroad for delight or pleasure, and for all merchants or their factors that exercise the art of merchandizing in any part of the habitable world.

CHAP. CCCXXIIII.

Of Orders and Commissions given and received for Draughts and Remittances by Exchanges in Lions.

BEfore I enter this vast subject of Orders and Com∣missions, * 1.1 I will briefly shew, how the accounts of these Orders and Commissions are made, being onely •…•…iven, by the expert and subtle heads of Bankers and Exchangers, conversant in the course of Exchanging, which sorts of Commission or Orders, are wrought partly by the Rule of Three Direct, and partly by the same rule backward, and the bet∣ter to distinguish, those that are made Direct, and those that are made backward, it is requisite, that the course and manner of Exchanging from one place to another bee precisely knowne and learned, and how that place to which the Commission is sent and given, draw or remit either by a certaine or uncertaine rate, and such Commissions ought to be made, by the Rule of Three back∣ward, taking one of the prices, which are found for Divisor, and the other two, which are the order'd prices, take for the summe to divide by, and it is to be noted, that the first price, which is taken for Divisor, be of the same place as the last, and to know herein what is meant by this word certaine and uncertaine, I shall now declare it.

A Certain Exchange is no other, then to give a setled price, which varieth not in Exchanging, and hath no change or alteration, as it * 1.2 is seene in Lions, or in Placentia, which giveth alwayes Cro, 100, or Cro. 1, to have in N•…•…les Duccats 130 more or lesse, and this 100 Cro. or 1 Cro. is 〈◊〉〈◊〉 found to alter, and therefore termed by Ex∣changers to be the certaine price.

Incertaine Exchange is a price that is observed unconstant, and * 1.3 which admits of variation, which shall be when the place which Exchangeth, giveth a number of Crownes, Ducats, or Sols, or of any other money which commeth not to the iust sum of 100, or else exceedeth the same, and therefore the same not being firme and stable, are named incertaine Exchanges, as subject to alteration, sometimes more, and sometimes lesse, which is rightly and well to be considered and understood in Orders and Commissions of Ex∣changes given.

When the place then wherein the Commission is to bee effected, giveth to the places whereto it ought to remit, and draw, to both of them the Incertaine, the account must be made by the rule of Three Forward or direct, taking for first & second number, the pri∣ces that have beene ordered, and for the last number of the said rule, take one of the prices that are found, in such a manner, that the first Exchange of the said rule be of the same place as the latter. Likewise, when the said place where the Commission is effected, giveth to the places that it ought to remit, and to draw to both of them the certaine, the account thereof is made by the said Rule of Three forward, as by Example.

Order and Commission is given for a Merchant to his friend at Li∣ons, * 1.4 to remit to Naples at Duccats 126½, and to prevaile for Rome at 85 Crownes, or at an other price differing therefrom, provided that it may be done without losse, it is found to remit to Naples at 125 〈◊〉〈◊〉 Duccats, I would now know at how much might the same be drawn for Rome, to the end that this Commission be fully and iust∣ly effected.

It is here first to be considered, that Lions giveth the price cer∣taine to the said two places of Naples and Rome, and therefore by that account, it must be made, by the Rule of Three forwards, say∣ing, if Ducats 126 〈◊〉〈◊〉 give Cro. 85, the inordered price, how many will Duccats 125½ give, the price found for Naples, and it will come to Cro. 84. 4. 4, and at that price you must draw for Rome.

By this Commission then it is to be understood, that those of Naples will have Ducc. 126 〈◊〉〈◊〉 in remittance, in that place, and be Debitors in Rome Crownes 85; who finding to remit at Ducc. 125 〈◊〉〈◊〉, it giveth losse, receiving lesse then that which was inordred; and making the account in this abovesaid manner, it is found, that the Draught ought to be made at Crownes 84. 4. 4. which is to profit, becomming this way a lesse Debitor, then that which was inordred, which commeth to recompence the losse which is made in the remittance; As for Example shall ap∣peare.

〈 math 〉〈 math 〉 To proove this account, by which may bee clearely knowne, how this Commission remaineth perfectly effected, doe in this man∣ner. * 1.5

Presuppose, that those of Naples have given the Commission for Crownes 2000 of Gold of Estampe, or de Camera, which they would draw for Rome, and remit the value for Naples: You must first see how much the said Crownes of Estampe are worth, in Crownes of the Sunne, at Crownes 85 per cent. the inordered price, and it will come to Crownes 2352. 18, 9. of Gold of the Sunne, out of which you must take 〈◊〉〈◊〉 per cent. for provision, and there will remaine Crownes 2343. 10. 7. the which must be remit∣ted to Naples at the price inordered of Ducats 126½ per cent. and it will come to Duccats 2964½, or thereabout.

So that as it doth appeare, the said Crownes 2000 of debt in Rome, are made by remittance to Naples, Duccats 2964½.

Now then it is to be observed in the prices (different from the order given) which are found, that is to say, at Crownes 84. 4. 4. for Rome, and at Duccats 125⅓ for Naples, if for the said Crownes 2000 by Draught to Rome, a remittance may be made of the above∣said Duccats 2964½; and the better to know it, it must be seene, how much the said summe of Crownes of Estampe are worth in Crownes of Gold of the Sunne, at Crow. 84. 4. 4. per Cent. which will come to Crow. 2374. 16. 6 Crownes of the Sunne; out of which, ta∣king the provision at ⅖ per Cent. there will remaine Crown. 2365. 6. 7. which must be remitted to Naples at the said price, which is found of 125 〈◊〉〈◊〉 per Cent. and it will make in Duccats 2964½, or thereabouts, by remittance to Naples; the which sheweth the said Commission is perfectly accomplished, in conformitie of the Order given. For example.

〈 math 〉〈 math 〉

I could here adde many of these Examples for the illustration of this point of Commissions, but I forbeare to doe it, because the examples might prove tedious and intricate, and the rather be∣cause I may publish in this kind some things that I have already roughly drawne, if I find that my labours this way prove grate∣full, and therefore touching other circumstances and questions that may arise in the Exchanges practised in Lions, I will referre the same to the ingenious lover of this Art and Mystery, having set downe sufficient, to exercise both the head and hand of the studious, and which may afford matter for greater varietie in in its season, therefore I will in the next place survey the Ex∣changes practised in Rome, after the same manner.

Notes

• * 1.1

  Of Orders and Commissions gi∣ven and recei∣ved for Draughts and Remittances in Lions.
• * 1.2

  Certain price in Exchanges.
• * 1.3

  Incertaine price in Ex∣changes.
• * 1.4

  Example of a Certaine and incert•…•…e Ex∣change.
• * 1.5

  P•…•….