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. CCCCXLVIII. Of Orders and Commissions given and received for Draughts and Remittances in London.

* 1.1ACcording to my proposed method I will here for conclusion of the Exchanges practised in London, briefly insert some Examples of Draughts and Remittances made by Com∣mission and Order in the City of London.

* 1.2To London then cometh Order from Venice to remit to them at 60 pence, and to draw for Pla∣centia at 82 per sterling, the partido being for Crow. 40000 of Mark. I find then Bills for Venice at 61 pence, I would know, considering the loss that presenteth in the Remittance, at how much should I draw my Draughts for Placentia; you must say by the Rule of Three, If pence 60 give pence 82, the price inordered, how many will pence 61 give the price found for Venice? and it will be pence 83⅓ sterling, or thereabouts, and at less must not the Draught be for Placentia. 〈 math 〉〈 math 〉

* 1.3Again, posito, Florence is found to exchange for London at pence 83 sterling, and say for Placen∣tia at Crow. 108, and that there is Order given to Florence, that at these rates they draw for Lon∣don and remit to Placentia, at how much then will the remittance come from London to Placentia?

to do this, I multiply the said Crow. of Florence, which properly are to the value of Crowns 100 of Mark by pence sterling 83, as is above-mentioned, and out of the pence that are thence pro∣duced, I cut off the two last figures, and there will remain pence sterling 89⅔ incirca, and so many pence together with ⅖ per cent. for the provision that is commonly paid in Florence, comes to be disbursed in London, for one Crown of Mark credit in Placentia. 〈 math 〉〈 math 〉

* 1.4Again, to Antwerp cometh Order from London, to draw thither, and to remit to Venice, at such a price, that the remittance from London for Venice, come but to 55 pence sterling clear of charges, the partido being 1000 pound sterling, now there is found money for London at s. 33⅓, and Bills for Venice at gro 90⅔, I demand if at this price the said Commission may be essected? First reduce the said s. 33½ into gros. and they make 400, then say by the Rule of Three, if pence 240, (the value of the pound sterling) give 400 gro. what will 55 pence sterl•…•…g give being the price of the Ducats of Venice, it will make gross. 91⅔ from whence mull be de∣ducted ⅖ per cent. for provision taken, and there will remain gro. 91 3/10, so that the said Commission may be effected to profit, because that drawing for London at s. 33 ••/••, may be de∣livered for Venice at gross. 91 3/10, and there present Bills at less, that is at gross. ⅖ 90; Exam∣ple. 〈 math 〉〈 math 〉

And this is as much as I conceive needful at this time to insert concerning the Exchanges practised in London, now there only resteth Terms of payment of Bills of Exchange in Lon∣don.

Notes

• * 1.1

  Orders and Commissions given and re∣ceived for Draughts and Remittances in London.
• * 1.2

  Example 1.
• * 1.3

  Example 2.
• * 1.4

  3 Example.