The merchants map of commerce wherein the universal manner and matter relating to trade and merchandize are fully treated of, the standard and current coins of most princes and republicks observ'd, the real and imaginary coins of accounts and exchanges express'd, the natural products and artificial commodities and manufactures for transportation declar'd, the weights and measures of all eminent cities and towns of traffick in the universe, collected one into another, and all reduc'd to the meridian of commerce practis'd in the famous city of London / by Lewis Roberts, merchant.

CHAP. CCCCIX. Of Orders and Commissions given and received for Draughts and Remittances by Exchanges in the City of Florence in Tuscany.

* 1.1ACcording to my proposed method, I will here set down an Example or two of Draughts and Remittances, made by Order and Commission in Florence.

* 1.2To Florence then cometh advice from Venice, that the Exchange for the said place of Flo∣rence cometh at Crow. 80½ and for Placentia at Duc. 135½, they inorder in the said place of Venice, That at this rate they make a Remittance to Florence, and draw from Placentia, at how much then will the Draught of Florence for Placentia come unto? To do this,

Multiply Duc. 135½, which is the value of 100 Crow. of Mark by Crow. 80½ of Gold per cent. because the said Crow. of Gold is the rate of the Duc. 100 of Venice, and it will be Crow. 109. 19. from which take 2/•• per cent. for the provision payed at Venice, and there will rest Crow. 108. 12. 10. and so many Crow. of Gold is imbursed at Florence for 100 Crow. of Mark for a debt at Placentia; As thus for Example: 〈 math 〉〈 math 〉

* 1.3Again, one of Venice is Creditor in Florence Crow. 3000 of Gold, who inordereth that the same be remitted unto him at Crow. 81½, or by Placentia at Crow. 110, where the most advance and profit shall appear to be, that is to say, That finding a Remittance in both places to bene∣fit of the price limited, the Remittance should be where the profit and benefit is greatest, and finding the Remittance to loss, the Remittance be made where the damage is least, there is then Bills found for Venice at Crow. 82¼, and for Placentia at Crow. 110⅚, I demand by which of the two should the Remittance be made?

By both the said places there is found a delivery to loss, and to know which of the two is the least, say by the Rule of Three, If Crow. 81½ give Crow. 110 the price limited, what will Crow. 82¼ the price found give? and it will come to Crow. 111. 0. 2. So that the Remittance should be made by Placentia, because that remitting to Venice; at Crow. 82¼, to run at the Par, the delivery should be for Placentia at Crow. 114. and the Bills is at Crow. 110⅙, As in the following Example.

〈 math 〉〈 math 〉

* 1.4Again, one of Rome is debitor in Florence in Crow. 2500, who inordereth that the draught be made at Crow. 91, or by Placentia at Crow. 110½ where the most profit shall appear to be, now there is found money for Rome at Crow. 92•• l. for Placentia, at 109⅙ Crow. I demand, whither should this draught be made, seeing that to both the places the draughts happen to be to loss in both the limited prices? And to know which is the least of both, say by the Rule of Three, If Crow. 92⅕ the price found for Rome (seeing that Placentia receiveth the uncertain rate from Florence) give Crow. 110½, what will Crow. 91 the price inordered give? It will make Crow. 109. 1. 2. so that the draught shall be made for Placentia, seeing that drawing for Rome at Crow. 92••, to run upon a Par, should be taken for Placentia at the said price at Crow. 109½, or thereabout, and there is found at more, that is at Crow. 109⅙: As by Example: 〈 math 〉〈 math 〉

And so much shall suffice to have said of the Orders and Commissions in Draughts and Re∣mittances by Exchange of Florence.

Notes

• * 1.1

  Orders and Commissions given and re∣ceived for Draughts and Remittances by exchange in Florence.
• * 1.2

  1 Example.
• * 1.3

  2 Example.
• * 1.4

  3. Example.