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CHAP. CCCCXLIII. Of the Exchanges practisd in London, and how the same are to be calculated.
* 1.1I Have shewed in the general Exchanges of London, with how many other places this City is found to Exchange and there also set down the common current prices and rates thereof, which every day is found to be so subject to alteration, that no positive rule can be observed rightly to set down the same, yet it is in it self so beneficial, that thereby the unex∣perienced may know how to make his calculation thereof, and that as well in his Draughts as in his Remittances. Now only there resteth to conclude this Tract of Exchanges and this Map of Commerce, to handle the way how the same is cast up, and how by Arithmetick it is per∣formed, which I will observe here with some other principal places, which may serve for a sufficient ground and instruction to those here omitted.
* 1.2It is here to be noted for the better understanding of what ensueth, That all Bankers or Exchangers do keep their Accounts in London in pounds, shillings, and pence, commonly called sterling, and cast up by 20 and by 12, for 20 Shillings make a pound, and 12 pence make a shilling.
And morcover that London exchangeth in the Denominator of pence sterling with all other Countreys, Antwerp, and those Countrys neighbouring of Flanders and Holland excepted, with which it exchangeth by the entire pound of 20 shillings sterling.