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Lorsque le document est trop grand pour dtre reproduit en un seul cliche, 11 est film6 A partir de I'angle supirieur gauche, de gauche A droite, et de haut en bas, en prenant le nombre d'images nicessaire. Les diagrammes suivants illustrent la mithode. f errata dto It le pelure, pon i n 1 2 3 32X 1 2 3 4 5 6 COMPREHENSIVE SYSTEM OF BOOKKEEPING, BY DOUBLE ENTRY, ADAPTED TO THE BUSINESS TRANSACTIONS OF MERCHANTS AND MECHANICS: WITH A C Stock, M Mcrcliandizo, 14 Bills Receivable, 14 Bills Pa vablc, '' 14 Profit and Loss, ir. Interest Receivable and Interest Payable, , r, Mcrcliaudizc Expenses, lo-K! Lectures on Book-Kceijing, ,- ,, . Day-Book, No. 1, 2 /-')() Cash Slate, ;!1 Journal A., 82-o;j Ledger A., ;!4-;{7 Form of a Foreign Bill of Exchange, .^^ Form of Domestic Bills of Exchange or Inland Drafts, ;^,^ Form of Promissory Notes, payable at a Bank, ;}^ Form of a Check on a Bank, Form of a Receipt in full, ••»••• ^^^ Interest Tables, at 6 per cent, ,,, Currency Tables, •^ 40 Weight and Value of Gold and Silver Coins of ditforent Countries, , , < - ' 41-4.J Exchange, 4()-47 B* II : i! PREFACE. TiiK desi;^n of the Autlior in puhlisliinn- (his Work, is to place in the luinds of the IniHinoKs (•oniiiuuiity, [uuticiilarly llic retailers, u Hvstein of hooiv-Kr.r.iMNti. hy Double Kiilrv, adapted to their wants mid conveniences; one which is Sini[)Ie, Intelli;;il)Ie, and Comprehensive — calculated to save labour and prevent error, and at all times to reveal, at a glance, without the takinfjj of an inventorv or the keeping ol' auxiliary books, the exact state of business, however extensive and various such business may bo. ft' That n system, answering the above design, is nuidi Avanted in British America, will be readily admitted by all. AV'hether this is such a one, is submitted to the enlightened and candid public to determine. In opening and conducting accounts by this method, the facilities afforded, as \vell a.s the a(hantagcs obtained over Single Entry, are too ^vell knoAvn to admit '"' P."-'-"lm-l,v ,I..M.,K.,1 ,„ul ml,,,,„.,| ,„ „„. I„„i,„... "' """ ''"'" "'"' ■'-"■■'"■'•"« i'"'1 l-nr ,,,„>n.,„my ^„„1 ,..,,,„,,,,, ,„ „,,, ,„ .,|| mi;i((c|H;il»l,.. 7"' "':"■ ""'■■''''■'■■■ ^ '"■''"•'■ '"'"• '"'-"■"-• "i"' «'- low pri... ,„ „,,i,.|, „,i, T '^ ""'■'■';'• '"■ ''^'-^ '■ ""'""-' '° l'>'''li»''. -J .looa ,uu.t rcpocfullv »„l„„i, ihi' siniic 1.. ilii'ir ,,j|,si,U.nui()ii. • , . 1' I>C' INTRODUCTION. liooK-KKKiMN*.}, when sv.stoiimtically ctMiductcd, is tlic science or art; — tirst, of recording with brevity and perspicuity all transactions of a Ijusiness nature in uhieh numbers come into the account; — second, of transferring, in a systematic and proper order, this record to the J(>urnal; — third, of entering;' each diil'erent and individual eljussof items St) transferred under its proper head in the Ledger, so tliat the a<;gTe<;'atc, tui well as the balance of each account, can be ascertained Avithout referring to other sources. Each business transaction contains, independent of its history, two titles of accounts; tlie one of which relates to the cause, the other to the effect. It is the province of tliis system to give both of these titles: it is done by debiting the clfcct to the credit of the cause. This is Double Entry. In tliis consists the difference between Double and Single Entry ; Single Entry giving only one title, sometimes of the one kind and sometimes of the other. The number of books here introduced and usually made use of for kcei^ing accounts ))y this method, are three — the Day-Book, the Journal, and the Ledger, with a detached alphabet for the same : these three constitute what are termed a set. Other books, called helping or auxiliary books, may be introduced in numbers, and for such pm-poses as business may recpiire. The i)rincipid books of this class are, the Invoice- liook, the Cash-Book, and the Kecei])t-Book. The In\^oice-Book is a copy book of all bills of purchase : it is used for references — is more convenient than bills for this piu^iose, and should never be dispensed with. The C/VSii-BooK is, by the practice here introduced, rendered unnecessary: the ciish transactions arc transfeiTcd in a condensed state from the Cash-Slate to tlu- Day-Book. The Receipt-Book contains all the receipts for money paid out on account of business, signed by those to whom it is paid. Where many papers of this kind are taken, the Keceipt-Book should undoubtedly be adopted. ¥. 10 INTRODUCTION. THE DAY-BOOK This Book contains the original business entries of the merchant, recorded in a phiin and perspicuous manner mider the proper date, at the time and in the order in wliich tliey occur: it is a true, though promiscuous history of all transactions in business, and is the only book admitted as evidence of debt in Courts of Law. The Day-Book here introduced differs both m the mamier of ruhng and mode of conducting (see fomi) from any, in the Author's opinion, ever before offered to the consideration of tlic pubhc : in this book both titles arc given in the same line, but the numerical sum, -which is equally ai)])licable to each, is only once Avritten do^vn. There are two reasons for adopting this method. The first is to avoid unnecessary labour — the second to prevent confusion in journalizing: the amount of debt and the amount of avdit m each set of entries, it will be recollected, are equal. For example : if I WTite Cash Dr. to Stock £20, it is clear that Stock is as effectually credited for this sum as Cash is debited ; as nuich so as if I write. Cash Dr. £20, to Stock Credit £20, or Cash Dr. to the Credit of Stock £20, Avhich is the same in effect. In addition to tliis ck-aniess, the histoiy, if properly written, abvays declares the sa.ne fact. Thus ; if I write, JDr. Tliomas Holmes, To Mead, Bi others & Co. To one Piano Forte £i3 The histoiy shows that Holmes stands debited for, and Mead, Brothers & Co. ci'edited by the article, a piano forte, and the sum £43 0. It may not here be out of place to mention, that in giving the histoiy of a transaction no arbitraiy form is necessary; it should befiill, clear and explicit, which ^vill readily indicate to the book- keeper (in posting fi'om his Joiuiial) the iiatm'e of his entry, and aaiU save the trouble of reading the histoiy or seeking the natm'e of the title at the head of the entry m his Journal. In all cases ^vhere the primary object of the entiy is to give credit, as in cases of payment on personal accounts, Szc, it is, I thinly, the better way to adopt the above example. In entering a transaction in the Day-Book, both titles, as has been before ob^ened, should be given.* In some transactions, particularly debts to merchandize, the histoiy may so clearly indicate the credit title as to make tlie entiy of it seem miiiecessaiy. By a reference to the method adopted in trans- feniiig fi'om the Day-Book to the Journal, the use of this title will be readily perceived. Tlie marginal column on the left of the page is for recording the gains and losses on tlie sale of merchandize. AVhere losses of this nature but rarely occur, it is the * Tlie cutries in this book, may, without much, if any, impropriety, be nrrangeil in the same manner as they are in the Journal, that is, under the head of Sundries Ur. to Merchandize, and Sundries Dr. to Sundries ; or they may bu kept in either book, still more distinct, by substituting the term Sundries Dr. to Sundries — for that of Merchandize Dr. to Sundries, Sundries Dr. to Hills Payable. By adoptinjr this method only, one title would bo given :n an entry, and consequently much writing would be saved : the ill consequences, if any, would be the liability to enter a transaction under the wrong head, and the Avasting of paiicr in the book by blank spaces, which would Sdinetimes necessarily occur. By this i)ractice, if this method is adopted, Sundries Dr. to Merchandize, should be tJie last entry in the Day-Book for the day. . ■ ;: '• - -'w >,: i -.m INTRODUCTION, 11 best way to enter them and the transaction in whicli they occur under the same head, (see entry in Day-Book) ; but if they arc of frequent occiuTcncc, they should be entered in tlie profit and loss column, in their respective place across the page, that is, opposite and pci*pendicular to the entiy of the transaction out of which the same arises. At the close of business each day, the several sums in this column, standing for profits, should be added together, and entered under the title of profit and loss, to the debit of merchandize, (see Day-Book, toAvards the close). If there are, also, losses in the column, they should be added, and the aggregate entered under the title of profit and loss, to the credit of merchandize, or the aggregate of the one may be taken from the ag- gregate of the other, and the balance noted as being such, entered as the case may require. To credit merchancUze for the sum it sells for, being the amount of cost and profit on the same, is, in one sense, a departm'e fi-om the given nile, viz : that the eft'cct is debtor to the credit of the cause. This departure, however, is ajiparent only, not real. Tlie profit is an incident to the merchandize, and can only be detemiined by the sale. This mode of entiy presupjioses merchantlizc to have been debited as well for its original cost, as for all the mcidentals or i)rofits that are to arise from its sales. This has not been done, nor can it be until the profit shall be ascertained by such sale, when merchandize is debited for the amomit, and consecpiently the account with merchandize will ahvays exhibit the quantity at first cost on hand. The propriety of adopting the above rule is easily shewn, by the absurdity of entering a single transaction in which the profit is not supposed to have been pre- viously charged to merchandize. It will read thus : — John Davis, Dr £20 To Mcrcliandizc, for one Victoria shawl, £15 To Profit and Loss on the same, 5 Now is it not apparent, that on settlement, J. Davis miglit reasonably maintain that he had not received the last ailicle ? THE JOURNAL. This book is an aiTanged, condensed, and systematized transcript of the Day-Book. It is ruled with two sets of parallel Hues on the right margin of each page ; the first set is for receiving the debit smus- -tlie last for receivuig the sums of credit. «>■ JOURNALIZING. In opening and conducting the Journal, the follo-vving rules should be observed : — First, to number the page in its proper place, at the corner ; second, to ^vi'ite, above tlie bar at the top, tlie day of the week, the month, date of tlie month and year, 12 INTRODUCTION. Ir> corresponuing Avitli the same on the Day-Book. This should also be done at the conimeuccinent of each da}'s transcript, wherever the same may commence on tlie page. . As by far the greatest number of entries in the Day-Book are debts to merchan- dize, the transcript, except in instances of settlement Avith stock, should commence with this class of accounts, under the head of sundiies, or sundry accomits, or the foUomng accounts debtor to merchandize. Then, commencing with the first accomit of tliis class, transfer the debit title and history* (see Jom-nal). When this is done, draw on the Day-Book, witlim the profit and loss column, two parallel oblique strokes against the account so transferred. Proceed to and transfer in lilcc manner, the next account of the same class, marldng on the Day-Book as before. When aU the debts to merchandize are transfeiTed, add the several amounts together and place the footing in the column for credits against the title merchandize first entered. The above being complied with, the next step is to write in the Journal, for caption to the remahiing accomits, not jom'naUsed, sundi'ies debtor to sundiies, these accoimts being of various natm'cs.f Tliis behig done, tmn back the Day-Book to where the transcribing commenced, and transfer, under their respective titles, an-anging and condensing, as much as practicable, the remaining transactions, being careful, at the same time, to place each sum in its proper column. The entry of the title merchan- dize ui tlie Day-Book, enables you to find, at a glance, each accomit of tliis land. THE LEDGER. The fonn of the Ledger, adopted in this work, differs in no respect from the Ledger usually used by merchants and mechanics, Avho post the sums of accoimts only, the column for receiving dates, in Ledgers, is of course omitted, (see form.) POSTING. Before the Posting is commenced, each title of an entry in the Journal, should have the page assigned it ui the Ledger Avi'itten against it. This page is ascertained by referrmg to the alphabet, in which is written under the proper letter, the title and page of each account so assigned. A proportion of the titles being thus : Ledger * For all purposes, except future convenience, the history, other than the numerical amount, is licre unnecessary, as the titles anil sums only, being of use in posting : more than half the labour of journalizing would be saved by its omission, as the Day-Book contains a full history, and the only legal explanation of each transaction, one may, if he thinks proper, without any great impropriety, omit the history here altogether. t This caption may be omitted, if thought proper j its introduction only, serves as an index to the kind of accounts which follow. ■.■^^mflMiP^iv^r--*^^>^t^y«gy*^*' INTRODUCTIOX. 1«> paged, open yom* Ledger at the page assigned the fii-st, and write in the propei- margin, the necessary initials and letter of tlic Journal, On a line with these, and just >Wthin the bar, write in smaller sized figures the page of the Journal; iblloAV this in a bold and open hand, with the amount to be entered, make a comma at the close, and the first title in your Ledger is posted. See Lodger, make some sign, either f or |, or some other, before the Ledger page on the Journal, and proceed to, and post in hkc manner, the next title of the same account. THE CASH SLATP:. Tlie Cash Slate is, in effect, a Day-Book for the entry of all cash transactions ; — also, for all profits on barter.* This slate should be ruled, and tlie titles entered agreeably to the form here introduced ; the iiiling should be made permanent, by being imbedded into the slate. The entries here, as well as tliose in the Day-Book, should be made at the time the transactions take i)lace. At the close of business cnch day, the contents of this slate should be transferred, in a condensed state, to the l)ay-]>ook, (see transfer on the same). Li no instance should the transfer be omitted for several days at a time, particularly so if there are pei'sonal accounts entered on the slate. The most convenient ])lace for keejnng the Cash Slate is in brackets, attached to the bottom of the Change Drawer. The opposite side of the slate is conveniently used for casting accounts ujion, making temporar}- bills upon, &c. cS;:c. CLASSIFICATION OF ACCOUNTS. Accounts are di^dded into three classes, viz : — Real, Personal, Imaginaiy or l-'ictitious. All accounts consisting of real items, such as cash, notes, bonds, merchandize, iiouses, lands, &e. «S:c., are denominated real accounts. All accounts kept with or in the name of an individual or firm, are tenued per- sonal accounts. ., r ;. .,, , ,. , Imaginary accounts are such as stock, profit and loss, inteivst, commissions, expenses, «&c. &c. >.,_.^, . ,..,,i,,- >■';•', .■ .- ..: * Some objection may, pcrliaps, be raised npninst iiocping the gains on bartci-, in tlic nmnner here adopted, oa !»Uo against keeping them on tlie Cash Slate. The practice is* recommended boofinsc it is thouglit to be more con- venient, to require less writing and room on the booiis, and to bu eiiually exjilicit and correct in the end. If it is to be rejected the best way tliat ocenrs to me, is to debt merehaii(iize to merchandize (in tiie Day Book) for the nominal amount bartered for, and place the profit in tlic cohimn for profitj*, as in cases of the sale of merchandize. K «>l D^ .hi! Ifti 14 INTRODUCTION. EXPLANATORY REMARKS, ON THE NATURE AND TITLE OF SOME ACCOUNTS. STOCK. Stock ivS a fictitious title, representing the owners of the effects invested in trade. It is synonymous with your oAvn name, and is used for pm*poses of convenience instead thereof In opening a set of books by double entry, an account with Stock is the first entry to be made. This account should contain, under the proper titles ; First, an accurate inventory of all the effbcts you possess, or as many of them as you are disposed to invest in your business. These together constitute what is calfed Capital Stock ; Second, an accurate inventory of all debts under their proper titles, and from you to others, or as many and such of these as you consider safe to be cntrasted in your books. The first are to be jounialized as debts to the credit of stock, the second are to be journalized as credits to the debt of stock. See first and second sett of entries in the Jomiial. The diflerence between the debt and credit of this account is tlie nett amomit of investments, and the actual capital of the merchant, if all the effects possessed and all the debts owed arc included in the entries. MERCHANDIZE. Under this title are included all the goods, wares, &c. &c., in trade, and OAViied by yourself BILLS RECEIVABLE. All obligations, such as promissory notes, due bills, bills of exchange, bonds, mort- gages, contracts, &c. &c., due to you, are denominated Bills Receivable. BILLS PAYABLE. All notes, bonds, contracts, and the like, due from you to others, are denominated Bills Payable. Under this head are included also, all debts owed by you, and Avith- out your signature, to persons vnth whom you have no running account, or whoso names it is needless to enter in your Ledger. Accounts of this nature seldom occur ; in case of their more frequent occurrence, they should be treated as personal ac- counts, and may be entered either in the Ledger or in a book kept for their special use ; denominated a Minute Book of Personal Accounts, or Petite Ledger. r0'vWTT^'^^\m.1n: ■•■■' INTRODUCTION. 15 U> PROFIT AND LOSS. All and every variety of imaginary accounts are of this species, and may Avith lu) impropriety, so far as regards principles, have for a general title, the term i'rofit and Loss. Literest received on notes, commissions allowed >'ou for the selling of goods for others, moneys rec(>'ved on exchanges, &;c. &e., are all profits ; while the same being allowed by you to others, as Avell as all your expenses, are losses. It is but little or no more work to keep these accounts distinct and ujider a distinguishing name, than to keep them under the general title of Profit and Loss. When thus kept distinct, they give that intelligence, which, under the above title, could only be ascertained by an investigation of the whole of that account. The title Profit and Loss is used to designate gains and losses on merchandize, gains and losses on monies lost or found, &,c. &,c., in short it comprises all actual gains and losses Avliich cannot be properly designated, or are not, by any other title in your books. INTEREST RECEIVABLE AND INTEREST PAYABLE. Interest Receivable is money paid to you by others, as Interest on Demands that you hold against them. Interest Payable is money paid by you to others, as Interest .on Demands that they hold against you. As Interest Receivable is always a credit title, and Interest Payable always a debit title, both accounts may be kept on the same page in the Ledger. Sec entry in the same. ov MERCHANDIZE EXPENSES. Under this title are included the expenses of purchasing goods, the charges for transporting them, the boxes, &c. &,c. for containing them, and in fact, all other ex- penses til at accrue in the purchase and sale of merchandize. The common practice in Book-Keeping by Double Entry, is to include most of the above mentioned expenses under the title of merchandize. Wliere a Profit and Loss account is not kept, or kept so imperfectly as to require the taking an inventory tjf merchandize, to know anything like the true state of your business, this practice answers every pur])ose. But still, things look and are better under then* proper names, particularly if it cost no more labour or pains to enter them so. For instance, the packing of a case of hardware is no more an article of merchandize than the Clerk is whom you employ to sell it. In this system it becomes necessaiy to charge all sums paid on merchandize, over and above the actual piu'chase money, to something else than merchandize. It is the practice of all merchants to mark their goods with the first cost, or tlie nominal *fi| i:i;i 1() INTRODUCTION. siiin paid for tlioni. This is ri ery great degree of satisfaction and benefit must result fi"om your being enabled almost instantaneously, by the inspection of a few accounts in your Ledger, to deter- niine sufficiently near for all iunnediately practical pui-poses, your true situation and condition in business. Whctlier the interest which has accrued on debts that are yet unpaid, should be iiuluded in the estimate you may occasionally make of the nett gains or losses arising from trade must be determined by yourself, fi'om the situation and extent of such demands. No estimated interest should be entered in yoiu" books mitil the same has actuallv been paid. . ■> . , !■■ , • : ' ■ ' ■-• ■ ' •■ ';-.:■. ■ ; fTl ■ •'^'' •■•- ■ -':'■' "i . ■ ■• - .u ,v!>^ L.. ;•.,. ',,; . .. fifn, mn- ofit t is this and our iize the LECTURES ON BOOK-KEEPING. Thk following Lecturks arc (lesigtiod to facilitate tlie progrcFS of the learner. They embrace a specimen of the most common, as well as the most intricate, Journal entries in business transactions, shewing the proper method of entering, and the titles to be used. RULE. Effect is debtor to the credit of the cause, on The thina; received is debtor to the thin2; n:iven. QuESTiox. — What will be your.rournal entries if you commence business with =€1000 in cash, and owe nothing? Apply the rule. Cash is the effect or thing in possession — hence : Cash/)/- ,€1000 Stock is the cause or thing given* — hence, to Stock, €1000 Q. — What other entries would you have made, if you had, at the same time, been owing on your note to Wm. .Jones, £75 ? Answer.— Stock, Dr £75 To Bills Payable, .€75 Q. — How will your entries be made if you commence business with cash, £500 ; notes against others, X500 ; and an account against John Fiske, for c€500 7 A. — Sundries Dr. to Stock: Cash, .€500 Bills Receivable, 500 John Fiske, 500 Add the sums of these du'ce efFect titles together, and place the footing in the column for credits against die cause, tide Stock. Q. — What will be your entries if you buy Merchandize, valued at .£2000 0, and pay cash for the same 7 A.— Merchandize, Dr £2000 To Cash, £2000 Q. — What will be your entries if you pay cash as expenses of purchasing the above goods, £20 0; cash for transporting them home, £15 0; cash for the cases to contain them, £300; and cash for packing, coopering and carting the same, £ 1 ? A. — Merchandize expenses, Dr £39 To Cash, £39 Q. — What will be your Journal entries if you commence business with the following effects, viz :— Cash in hand, £75 ; Merchandize, £500 ; Notes against sundry • Stock represents yourself : This cnsh or eftect is yours and has cost you something sucli as time, labour. &r. &c. ; you are the cause of the possession, auJ being so, you should receive the credit. E* «'■ :l ill ) 1 t I «' 18 LECTURES ON nOOK-KEEPINO. persons, £1000 0; an account against James Carter, .£00 0; an account against J. Astor, £2j ; a store, dwelling houso and a lot of land, woith .i'lOOO ; a farm you call the Lathatri farm, v/orth .t'500 ; a house you own in St. James Street, worth .t'loOO ; Nail Factory, worth .£1200 ; and your domestic properly, per inventory, worth .£2.50 0? A. — Sundries Dr. to Stock : Cash in hand, £75 Merchandize, GOO Bills Receivable 100)0 James Carter 50 J. Astor, 25 Homestead, 1000 Latham Farm, 500 House in St. James Street, 1500 Nail Factory, 1200 Domestic Property, 250 Add these debt suras together and place the amount to the credit of Stock. Q,— What will be your entries if you owe, at the opening of the a1)0ve account, on your note to Hedge & Co. i'lOO 0, and on book account to H. D. Parkins, .£200 0? A.— Stock Dr. to Sundries, .£000 To Bills Payable, .£100 To H. D. Perkins, 200 Q. — What will be your entries if you pay in cash to C. Colborno &L Co., his bill of .£850 0, £4 of which is for boxes, and the i-emainder for merchandise, and give your note to J. H. Perkins for his billol".£l 100 ; .£7 of which is for boxes, kegs, transport- ing, &c. &,c., the remainder for merchandize ; and have Blackwood & Hall's bill of .£500 0, £2 of which is for boxes. Sec, the remainder for merchandize ; charge on Book ? A.— Merchandize, Dr .£2437 To Cash, £846 To Bills Payable,* 1591 And Merchandize expenses, Dr .£13 To Cash £4 To Bills Payable, 9 Q.— If you sell Merchandize for .£250 cash, what will be your entries ? A.— Cash, Dr .£250 To Merchandize, £250 Q. — If the profits made on the sale, and included in the foregoing credit to Merchandize, amount to £50 0, what will be your entries? A.— Merchandize Dr £50 To Profit and Loss, £50 • Tho Bill bought of Blackwood & Hall, ami charged on book, is included in this nmount ; it is done on the supposition that no running account will be had with this firn), in which case it is needless, the opening ol' un account with it, on your booka. \ • stor, ham torv, LKfrnniKs on hook kkim-ino. 10 Q.— If insiond of havinr.^ miulo a profit on the aforeincntioncd sale of Mcrchaiuli/o, vou had inctirred a loss of .t'5 0, what would have been your entries? A. -Profit and Loss, 7> ^5 Q Q To ^.lerchandiKc £.') Q.— What entries will you make if you sell Mereliandize for £60 ami receive in payment Casli :t'oO 0, an^l a note against II. Dill for X'.'JO ? A. — Sundries Dr. to fu'ereliandize, ,Ch() U C-'as'i, f.iO Hillri ReceivaUle, V,0 Q.— What will be your entries, if you pay Cash cei5l) for the adiling of onu story, chimney, &e., to your house in St. James Street? A.— House in St. .lames Street, Dr XI 50 To Cash £irjO Q.— What entries will you make if you sell your house in St. James Slreet, for .£2000 0, (the house havin;.; co.st you luit X'IG.50 ?) A.— Cash Dr. to Sundrii's, Xl'OOO To House in S:. James Street £\6r)0 To Profit and J\ncn; Dr. X1G7 lomesi To Cash, £{)! To Mcrchandi/e 70 Q. — Wlial will be yo\M' (Mitiies if yt)U buy vaiious tirtieles of furniture to use in your house, nuioiinling to, as per Bill, X\-2.j 0, and pay Cash for the same? A.— Domestic Property, Dr ,€l2r) () To Cash £125 Q. — What will your entries be if you take, to use in your store, 1 glass lamp at 2s. Cd. 1 gallon of oil at 3s. Gd. and paper, twine, &lc., Os. A. — Arerchandize expenses, Dr £0 15 To Merchandize, £0 15 Q. — If on settlement with your clerk, James Haskell, uhose services amount to .£121 you lind him charged on book to the amount of .£(50 0, and pay him in cash the balance due, the same being t'Gl 0, what will be your entries 7 A. — iMcrchandize expenses, Dr £121 To J. Haskell, on account of services, £60 To Cash paid to J. Haskell, for balance of services.. .. 61 Q.— What will be your entries if you pay, in cash, your note passed to Charles Dexter for X-20 and c£ I as interest on the same? A.— Sundry accounts Dr. to Cash, £21 Bills Payable, £20 Interest Payable, 10 Q. — What will be your entries if you give your note of £4 for the insurance of your dwt'Uing house against fire? A. — Domestic expenses, Dr £1 To Bills Payable, £4 Q. — What will be your entries if you pay £3 for the Insurance of your Store, and £5 for the Insurance of ]\Ierchandizc ? A. — Merchandize expenses, Dr £8 To Cash, £S Q- — What will be your entries if you receive £75 for the use of the Latham Farm ; £50 of which being in grain, you put into your Store to sell, and the balance you re- ceive in vegetables, &c., being £25 0, that you appropriate to the use of your family and domestic animals ? A.~Sundrics, Dr. to Profit and Loss, £75 Merchandize, il.OO Domestic expenses, 25 LKClUm:.H ON HOOK -KEEPINa 21 lizc SOS, liuii Q. — What will bo your ciUrios if you pay XT'j iu cash as rent for the Store you occupy A. — Mertliam!i/r rvponscs, Dr. .X7'j your Book account ai^anist llicni ; llic same bcnii^ .tOO U? A.— Cash, Dr fiO To J. .1. IMatl &. Co., £60 Q. — What will he your entries if you receive of A. Ilullanil to balance his account, cash £5 ; oats .i'3 10 ; and a hat for yourself, X'-i 10 01 A.— Sundries Jh: to A. Holland, £11 Cash €5 Merchandi/e, .T 10 Doineslic expi'iises, 2 10 Q. — What will bo your entries if you receive, per consi^tnnent of P. Bond &l Co., 120 Imrrels of Hour; for all you sell ol which you arc to account to them jCI 7 per barrel'?* A.— Merchandize, ])r XlG.j To P. Bond & Co's. Consi^Miment, i;iG5 Q. — What will be your entries if you pay for carting this Hour from the vessel to your store X2 .O ? A. — P. Bond &- Co's. Consigment, Dr £2 5 To Cash, X2 5 What will be your entries if you sell to JM. Hall GO barrels of this llouF at ill 8 9 per barrel ? M. Hall, Dr £86 5 To Merchandize, X86 5 Q. — What will be your entries if P. Bond &. Co. draws on you for X60, and you honor thier draft? A.— Bond & Co's. Consignment, Dr £60 To Cash, ....." X60 Q. — What entries will you make if Bond &l Co. withdraws the remaining 60 barrels of flour, and you pay them in cash the balance due of what you have sold? A.— Bond &L Co's. Consignment, Dr XI 02 15 To Merchandize, X82 10 To Cash, 20 5 Q._What will be your entries if you consign to P. Bond & Co. 120 barrels of flour at £17 6 per barrel? A.— Consignment to Bond & Co., Dr ^165 To Merchandize,... .£165 • In general, ConiiiilHsion Jferclmnts {jive no credit to Consil i 1 22 T.EmmKfl on nooK-KEKi»rMO. Q.— Wbiit will bo your entries if you draw on V. lionil & Co. at sight, for £\0A nnd tlu-y honor your draft ? A.-Cash, Dr .CIO,'', To Consi-nmrnt to I'. Hotul iy^ Co., flOri Q. — What will !)(! your (Mitiii-s if you willulraw tlic rctnninin:; 21 hiuTcN, and Hond &, C'o. pay you, afier doduciin''; .t'2 •> paiil hy (hem lor cartiii;^, tlii' halanco due on tlu! Hour soUl 1 A.— Sundries Dr. to Consi-nnuMit to I'. Hond iii Co., i'GO To I\roirhandizo i-2H 17 To Cash, 29 17 fl To Profit and Loss or Consii^niment exjM'nscs 2 5 IS'oTi;. — AiToiintu of llm iil)iivi< ii.iiiir,>, iIkhimIi not sd riMili'y ili4iii'.riii>lii'il tni yi'iir lioiikM nit Kiirh, nrc krpt with uuR'h lt'.^.^ liiliour hy l)(iii;,' iiitt'mliii'i.Ml into Dill.t KcfciMilili' iiiul liillt I'mviiMi-. S(c llic I'dUdw in;,' rxuinplcH ; Q. — What will your entries ])c if you receive, per CoMsi.;un\ent of P. Pond &, Co. 120 barrels Hour, for all you sell of wliicli you are to areount to them at X 1 7 G per hnrrel, and all remaining on hanil, you arc to yield up when demanded ; having given your written acknow- ledgment to the san)e purport 7 A.— Merchandize, Dr € 1 G.j To Bills Payable, £l65 Q.— What will be your enliies if, on the presentment of tho above acknowledgment, you pay X'iOO on the same ? A.— Endorse it and write on your books : Bills Payable, Dr £100 To Cash, XlOO Q. — What will be your entries, if l^ond & Co. withdraws the (lour unsold, (being 20 barrels,) and you pay the balance in Cash and take up your obligation? A.— Bills Pa} able, Dr £G5 To Merchandize, J:27 10 To Cash, 37 10 Q. — What will be your entries, if you consign to P. Bond &. Co., 120 barrels flour, for all they sell of which they arc to account to you at £1 7 6 per barrel, and all remaining unsold they are to yield up when demanded, your having their written signature to the same purport ? A.— Bills Receivable, Dr £105 To Merchandize, £\6') Q.— What will be your entries, if on presenting Bond &. Co's. acknowledgment, they pay you £100 on the same 7 A. — Endorse the payment and write on your book : Cash, £>/• £100 To Bills Receivable, £100 . Q. — What entries will you make if you withdraw the remaining 26 barrels, and Bond & Co. pay you in Cash the balance due on what has been sold 7 A.— Sundries Dr. to Bills Receivable £65 Merchandize, £35 15 Ca.sh, 29 5 • i I a T,i:rT!MlFS ON noOK-KKKI'INO. 98 Q. — If M. Jonos, W. ffa<,'nr, and II. Mills, enter into partnrrsliip, oacli investing JtltMU) U U ill C^isii, ns liis share of llie Capital Stock, wiiat will he tlu'ir first entries 7 A.— Cash, /V ij.lOOO To Siodv, £:5000 Q. — A> I'V this incthoil eaeh partner slioull he ereiliteil lor llu; sun) ho invests, what will bo their n«^\t enlri' s7 A.— Stork Dr. to Stinihics, £3000 To !\r. .Ione.< £1000 To W. Ilii'^'ar, 1000 To II. ,Mill; 1000 Q.— If on elo.-iii i; husiness they (iii'l; nfter halancinu; all e\|irnso.-i, &iv. by Profit and I.oss, that their husiness has resulted in a nv\ !,'ain to the Company ol.Cl.'JOO 0, wliat willhe their entries 'f (supposing!; ih;^' profits are to bo shared ecjually anioii;^' tlicni.) A. — Profit and Loss, /)/• jCLOOO To Stock, £1500 And Stork, Dr £1.')00 To l\I. JoiKs, £r)00 To VV. I!ai,'ar, noo Q To H. Mills, 500 Or Profit and Loss, Dr £ ir)00 To M. Jones £500 To W. Ila-rar, 500 To 1[. Mills, 500 Q. — If now the partnership is dissolved and each partner is to receive his share of the Joint Stock, and have hi3 own private account settled how is it to be cllected? A. — M. Jones' credit for Stock invested, and his share of nctt gains made in trade are £1500 0, the amount of Cash, Merchandi/c, &,c. drawn from tlie Company's Stock, at various times, for his own private use, as per his account on book, is=£l75 as above Ilagar's, £1500 0=£I50 0; Mills' £1500 0=£I25 0, hence the remaining efTocIs being in Cash. Sundries Dr. to Cash, £4050 M.Jones, £1325 W. Hagar, 1350 II. Milis, 1375 The foregoing method of opening and closing partnership books is frequently adopted, ns the partners before embarking in trade, enter into bonds of agreement, in which is specified the amount of Capital Stock furnished by each, as well as the proportion of Profit or Loss each is to receive or sustain, I see no necessity, or even propriety in settling this Stock to their own individual credits. I offer the following method, as being, in my opinion, more business- like and proper. •''I 24 LKCTITRES ON BOOK-KEEPING. h ti i| Q. — If A. B. and 0. enter into partnership, each furnishing the Capital Stock as follows, vi/ :— A. Cash, X7.00 0; I?. Cnsli, £:{()() 0; I). IMerchandize, £150 0; C. Cash, jC.'JOO 0; and a store l)uil(lin';\vortii Jl'A.'A) ; C. i^ives his note fur £100 0, payable in three days from date, what will l)e their en'ries? A.— Sundries Dr. to Stock, £2250 Cash, (A's Investment) £750 " ( IJ's Inveslment,) C;}00 U Merchandize, (IVs Investment).. -l^O 750 Cash, ( C\s Investment) IWO Store Buildin^^ (C's Investment). :3")0 BillsKceeivable,(C'.s Investment) 100 750 Q. — If on closing business, their Profit and Loss account shows a net gain of £1500 0, what will be their entries? A.— Profit and Loss, /)/• £1500 To Stock, £1500 (J. — If the copartnership is dissolved, how will this Stock be divided and the account settled? The eilects being in Cash. A.— Stock Dr. to Sundries, £3750 To A. to balance book account, £650 " Cash paid A. as balance, iscc 600 " 15. to balance book account, 500 " Cash paid B. as balance, 6cc 750 " C. to balance book account, 475 *' Cash paid C. as balance, &.c 775 Q.— What will your entries be if you Iniy 100 bushels of corn for £22 10 and pay £ll 5 in Cash; give your due Bill to be paid in IMerchandize for £10 5 and pay the ••emaining £10 in goods, on which you make a profit of 5 shillings? A —Set the piofit down in its jnoper place on the Cash slate, and as you have added £21 10 in ^Merchandize to your Stock, enter the same on your Day-Book. Thus: IMeicandizr, /;/• £21 10 To Cash, £11 5 To Bills Payable, 10 5 If you do not keep your baiter transactions in the foregoing method, but prefer to enter them in full on your books, it should be done thus: Merchandize. Dr £22 1 To Merchandize, £l To Cash, 115 To Bills Payable 10 6 NoTP. — In tliis Inst ('xani])lt', llio ])r(ifit made on tlic exchange of Merchandize, should be Bet down in the I'olunm for Profit and Loss, on your Diiy-lJook. an ei VI B tl LEOTrUKS ON l?()OK-KKI']PINa. 25 Q._lf s. Arnold wishes you to pay, and charge to his account £3 15s. to II. Stephens, and Stepliens wishes to be credited I'or the same on your books, how will you make tliese entries? A.— S. Arnold, Dr £3 l.O To H. Stevens ^3 15 Q.— ir instead of giving Stevens credit as above, you had given your dui; Bill for the amount, viz : £3 15 0, what would have been your entries ? A.-S. Arnold, J)r ^3 15 To Bills Payable, delivered, &lc ." £3 15 Q.— If S. Arnold afterwards calls and pays you £-2 in Cash, and gives you a due Hill against H. Stevens fori: I 15 to balance his account, how will die entries be made? A.— Sundries Dr. to S. Arnold, =^3 15 Cash ^'^ ^ Bills Receivable, 1 15 , Q.— If you buy iron to the amount of £50 for your Nail Factory and pay in goods for the same, what will be your entries ? A.— Nail Factory, Dr l^'jO To Merchandize, ^'"^0 Q._Il' you receive on account from W. Tilton, Iron worth £i25 0, what will be your entries'] " A.— Nail Factory, Dr... i;-25 To W. Tilton i^S^ Q.— If you receive on sales of nails 1^75 0, what \\ill be your entries ? A.— Cash, Dr ^'^••> <^ « To Nail Factory, ^"^"^ ^ Q._lf your consignee in Kingston writes you d\at he has ellected a sale of nails aniountmg, in the aggregate, to £225 0, and that, after deducting charges paid by him on the same, £7 10 0, and his commission for selling £10 0, he has paid the balance, viz. ,i-207 10 1)11 your note passed S.evens, Holmes & Co., as per your onler of January Oth, ISIG, what entries will you make 7 A. -Bills Payable, Dr £207 10 To Nail Factory, £207 10 Q.— If die aggregate sum obtained on the sale of these nails had been applied on the note, what would have been your entries 7 A. — Bills Payable, Dr £225 To' Nail Factory, ^^^ <^ Q.— If afterwarils, you call on the before mentioned consignee, and pay him Cash to the amount of his charges, viz. £17 10 0, what will be your entries 7 A.— Nail Factory, Dr £17 10 ToCash, £17 10 *' 26 LEOTUBES ON BOOK-KEEPING. Q. — If you break a piece of machinery belonging to your Nail Factory, which cost £\2 10 0, what will be your entries ? , A.— Profit and Loss, Dr £12 10 To Nail Factory, .£12 10 Q. — If you replace the piece of broken machinery with one that is pciicct, which cost i;i3 cash, and pay in goods to the amount of £2 for fitting the same, what will be your entries? A.— Nail Factory, Dr £13 To Cash ( £13 And Profit and Loss, Dr £2 To Merchandize, £2 Q. — If you pay cash £15 10 for labour done in your Nail Factory, what entry will you make of the same ? A.— Nail Factory, Dr £15 10 To Cash, £15 10 Q. — If you pay cash to the amount of £25 for improvements made in your Nail Factory, what entries will you make ? A. — Nail Factory Dr je25 To Cash £25 Q. — If you repair your Nail Factory to the amount of £4 and pay cash for the same, what will be your entries 1 A.— Profit and Loss, Dr £4 To Cash £4 Q.— If you keep no regular account with your business, but allow much of it to depend on the uncertainty of your recollections, what will be your future entries ? A. — In nine instances out of twelve, Stock invested, Dr. To Failure — The full amount. 1 cost 1 COS! vill be DAY-BOOK, JVo. 1. Monday, January lith, 1846. II you ■ r Nail same, jpend My Inventory of Effects, taken this day, is as follows, ^dz : — r Merchandize (in Sundries, see Invoice,) Cash in hand, Notes I hold against sundry persons, Due me on Book Accounts : From James Carter, the balance of his account in Ledger A., « Jones Astor, do. do. do. j " Samuel Jones, do. do. do. j I owe as follows, viz : — My Note passed Charles Flemmg, on demand,. To James Campbell, on open Book Account,. . 750 G50 i 600 47 23 . 46 i 21 7 d. ' ; I ■ I 10 Saturday, January lOlh, 1846. |: I have this day received per Ship from London,] Merchandize bought and amounting to as follows,;; viz : — I With Cash of sundry persons, (see Bills,).. ..••••• ;•••!•• " My Note passed J. H. Perkins at 6 months, A 11 00 Do. Blackwood & Hall at 8 months, 900 " Do. Hall, Jones & Co. at 6 months, 800 2800 600 The charges on the above Merchandize are as fol- lows, viz : — For Cash to pay expenses of purchasing, .£40 « Do. For Boxes, &c. as per Bills, 1 U, « Do. Transportation from to ^L9„^|! « Amount of carting, &c. included in Notes, as per Bills, , 52 1 i ; f «rtl W 28 DAY-nOOK. 5^ II JL3 Tuesday, Junuanj 13///, 1846. .lainc's Carter JJr. to IMercliaudizo ; For 1 gallon Molasses, 3s., 1 lb. Cinnamon, 2s. 6cl.,..i;0 5 6; i " 1 piece Blue Clolh, 15 yards, at 20s., 15 15 s. (I. r floiies Astor JJr. to IMorcliaiitlizc [i For 20 lbs. Loal" Sugar, at 9d., , Cr. by 85 bushels Oats, at Is. 6d., |. ^ Or jMerchaiulize Dr. to J. Astor, , By 85 bushels Oats, 7 Bills licccivablc Dr. to Merchandize: i For Goods sold P. Walker, on his Note, 1 day, I Shaw & Hartell Dr. to ^lerehandize : 8 0' For 100 bushels of WhccU, at 5s. 6d., ........ John M'atsoii /);•. to Saiimel Jones, Foi' discount i)er verbal order, Or John A^'atson J)r. to credited Sanmel Jones, Per verbal order. And Sanuiel Jones Cr. by charged J. Watson as above. Thomas AVilliams ./)r. to IVlerehandize : 10 '^ For 2 chests 120 lbs., Y. IF. Tea, at 5s., £30 " 10 pieces, 400 yards White Cotton, at 9d., 15 45 2 10 Joseph ]\Iiller Dr. to Merchandize: ..^ I !£30 13 ll For Goods deHvcred H. Davis, per your written order of this date 5 6 15 6 6 42 27 10 10 10 1 i 1 1 DAY-nOOK. zy ... d. ^£30 13 IVofit and Loss i>. to Mcrcliandizc: :i * Por n f Jlnss filnbp brokpn • £ 3 1 1 1 51 26 2 1 26 21 25 1 16 s. 17 5 10 5 5 11 i « i 14 5 cL 3 I 1 13 8 5 1 17 6 3 3 3 15 6 Meivlmiulize expenses Dr. to Merchandize: For 1 Water Pail, 2s., 1 Glass Lamp, 3s. 9d., £0 5 9 " 1 Broom, Is. 3d., Scales and Weights, 30s...... 1 11 3' 6 1 Bills lieeeivablc Dr. to IMerehandize : 1 For Goods sold Charles Hale, on his Note, at 4 months,. ... 6 1 Mercliandlzc Dr. to Bills Pajable: For 1 00 bu'ls. Wheat bought of J. Dill,\vithDue Bill for Goods, Sundi'ics Dr. to Merchandize: 1 TnliTi Wntr. to Bills Payable: For 20 bis. Flour bought of J. Dill on my note for Cash at 30 days 1 1 '. 1 John Watson Dr. to Merchandize: Vnr 4 lbs Coffee 4s . 2 lbs. Y. H. Tea. 10s 1 ^1 " ^ y J. Campbell Dr. to Merchandize: ^ < , , ' Vnr !0 bnrrpU Flniir nt 32s. fid J , . ..... ;e57 13 9 i„. — * i' if I! I W 30 DA.Y-nOOK. .il' £51 13 9 Merchandize expenses Dr. to John Watson, For 1 pair Boots bought for myself, Or Merchandize expenses Dr. To 1 pair Boots for myself, And John Watson Or. By 1 pair Boots, Bills Receivable Dr. to Thomas Williams, By Note to balance account, Or Bills Receivable Dr. for Note of T. Williams, And i| Thomas Williams (V. by Note to balance account. Bills Receivable Dr. to ]\Ierchandize : 76 For Goods sold Wm. Jones on his Note, at 60 days,. £133 13 9 cn o tn C a jVIerchandize Dr. to Profit and Loss : For Profit on Bills Receivable, and personal account sales made this day,.. : i;i33 13 9 For Profit on Barter transactions this day, 17 6 " Do. " Cash sales made this day, 31 3 2 Cash Dr. to Simdries : To Merchandize for Goods sold this day for Cash, " Bills Receivable for payment by P. Walker on his Note,. " Interest received by Interest received on P. Walker's Note, " Samuel Jones, by Cash paid on his account, " Shaw & Hartwell, by Cash to balance account, Sundries Dr. to Cash : Merchandize for 50 Pails bought of A. at Is.,. . . ..£2 10 Do. for Bill of Goods, (see Invoice,) 31 4 3 John Watson for Cash lent, Bills payable for payment on my ^ote in Cash to F. J. iV. Co. Interest payable for Cash paid as Interest on the above Note, Profit and Loss for Cash given to the poor, s. 10 45 350 165 i 14 108 10 42 ! 2 ; 17 35 27 ' 10 33 5 14 100 2 i 7 3 i 15 d. 9 6 3 6 d. CASH SLATE. Tacsdmj, January \3lh, 1846. 9 6 3 6 Cash lent Drawer, £2 10 i £2 5 8 20 17 1 Cash Dr. to Merchandize : ■ t '1 Received of A. B. for tea,| cofTee, &lc. &.C., i Received of Stranger for' ij sundries, 'i Received of Wm. Mills,. . . 2 1 " for sundries, i Surplus of Cash per count,*' Cash Dr. to Sundries : j! Bills Receivable by paynientl! in full from P. Walker onj his Note, \ Interest Receivable for In-i terest received on P. Wal- • kcr's Note, Samuel Jones, by Cash paid> on account ' Shaw & Hartwell, by Cashj to balance account, ...,.; 1 0! £ s. d.l I ! |Sundries Dr. to Cash, Merchandize for 50 pails, I 1 I bought of A., 2 8 I 4 SMerchandize for Bill of j; j ' Goods, (see Invoice,)., .j; 31 30 5 John Watson, for Cash lent, 5 63 10; o! 6 8, 2; 3; 4; Bills payable for payment on I my Note to H. J. &, Co.,; 100 Interest payable for Interest i I paid on Note to H. J. &. 42 O; O: Co., 2 ; Profit and Loss for Cash I given to the Poor, 3 17 6 I I 35 ! oi OMerchandize Dr. to Profit I I and Loss (on Barter,) j 27 10 OOn paying for 20 lbs. fresh! ! Butter, i !0n paying for 15 yards; I Figured Silk, ; |0n paying for Wadding, . . . ! s. d. lo; i 4 3 0: -I £1 o I 1 7, 6 i I 15 o: 5 1 10! 'A & j ! • If on counting the Cash in the Cliangc Drawer it is found (after taking out the amoiuit lent it,) to exceed the amount debited on the Shite, it is evident tliat some Receipt has not been entered. As the surplus was iindoubte 401 20 •2 1 21 10 17 2 10 11 II Oi 0! i] Sundries Dr. to Siuidries: Merchandize Dr To Jones Astor, by 85 bushels oats, at Is. 6d. '* Bills Payable by wheat and flour, 57 12 John Watson Di\ per Verbal Order: To Samuel Jones, by discount with Watson, ]\terchandizc Ex]icnscs, Dr. To John Watson, by 1 pair boots for myself,. ]iills Receivable, Dr. To Thomas Williams, by Note to balance account, Merchandize, Dr. To Profit and Loss, by profit on this day's trade. Cash Dr. to Sundry Accounts: ; To Merchandize, for Cash received this day for Goods, " Bills Receivable, for payment in Cash on P. Walkevs Note in full " Interest Receivable, by interest received on P. W's. Note, " Samuel Jones, by payment in Cash on account, " Shaw and Hartwell, by Cash to balance account, Sundries Dr. to Casli: ' Merchandize, for Goods (per Bill) and pails, John Watson, for Cash lent, : Bills Payable, for payment (in Cash) on my Note to H. J. &l Co. Interest Payable, for Cash to pay interest on above Note,. . . Profit and Loss for Cash given to the poor, ^ 2 10 2 10 I I i 45 i i I i 165 14 5 i ' 1 215 18 3 481 33 5 100 o ^ s. d. I i 17; 3 I i 1 51 2 10 2 10 45 165 14 5 108 10 9 42 2 17 G 35 27 10 144 16 9 143 i 0,0 , ' 1 \ : 7 fJ J 15 i «>! it LEDGER A. J. • -nrnrcr. . .«at:- |a Dr. J. A. P, ,28 0, , Stock. Cr. !J. A.P. ,2 1 IT) 0, Dr. Mercliaiidiz ze. Cr. J.A.P..750 .3400 0, > ' 'j. A.P. .133 10 6, .AS] 17 3,... 615 7 9 i.57 12 6, ^ u^u<^i^| o. .108 10 9, J65 14 5, ,33 14 3,... 199! 8 Sji i>r. Cash. Cr. J.A.P.i,650 0, ,,215 18 3,.... j 86518 sjj. A. P.! ,000 0, ,52 0,. i, 144 16 9, 652 Dr. Bills Receivable. -T- J. A. P., 600 0, ,42 0, !,5I 0, .350 0, i,45 0,.". ■ I » 7 o; ~ Jl.^ Dr. ||P>Gr<:u. O. J. A. P. ,26 5 0, ,100 0,. 126 r J. A.] ,21 0, ,2800 0^,,,.. 1^1 Oi 1 U U. 01 5 , v.. Dr. J. A. P. ,3 0, ,1 6 0,. ,3 16 Protit and Loss. 5 .1. J.A.PJ,2 7 6,. Payable— Interest— Receivable J. A. P. ,2 17 6,. Dr. J. A. P. ,63 0, ,1 17 0, ,2 10 0, Merchandize Expenses. J. A. P. 67 7i Dr. J.A.P, ,47 0, ,16 6 6,. James Carter. 62 Cr. ^ 1 I Cr. If m 36 J. A. P. Dr. LKDQEIU Jono8 Astor. Cr. 3' ,23 0, ,0 15 0, ,21 1] 3: 45 Dr. J. A. P. ,45 0,. Dr. J.A. PJ,16 5 0,. Dr. J. A.?. ,27 10 0,. Dr. 6 3 J. A. P. .6 7 6, Saimu'l JoiK's. Cr. J. A. P. ,2 10 0, a35 0,. J. Campbell. Cr. J. A. P. ,7 0,. Slmw & Hartwell. Cr. ,i 27 10 OJ,A. P.,,27 10 (),. 27 10 Thomas Williams. Cr. J. A.P.V45 0, 4 J. A. P. ,45 0,. -i-,„ ! 45 1 i l)r. J.A. PJ,10 lU 0,. LKDOKIl. Joseph ]\Iillcr. 37 Cr. Dr. .lollll W'lltsoll. Cr. J.A. P..-2 10 0, ,0 H 0, ,o 10 0,, 5 |M J.A.T./J 10 0, /> I_... Dr. LosH niid rjain — nnliincc. Cr. Amount of Expense Account,. ... .07 7 Bill, of Cr. on Pi'ofit &, Loss account Deduct Expcnccs, s account j 157 1 11 5 account,. 10 6 ' 15s! 4 57 7 £ 110 17 5 Z>r. Trial Balance or I'roof Sheet. Cr. Merchandize on hand, 3GS3 2' 8 Not Capital invested '2087 Cash in hand, Hf) 1 C Bills Payable, 2747 0,0 Bills Receivahle, lOKJ IVet (iai'n per Profit and LossAc-i ; i Personal Accounts,* ii 136 13 3,1 count, !, 100 17,6 £,493417 5 X 14934 1 7 5 NoTK. — To make n finnl sctflomcnt hotwccn Loss nnd Gain nntl Stock, you slioiild ili;bit or credit, as the case may rociiiiro, tlic; balance of Expenses and lutcrc-^t, (and all llie other similar accounts, if any) to Profit and Loss, and this last to Stuck. •The aprprcKate amount of these accounts is readily ascortain(Hl witliout the taking of an Inventory. The sum which is required to be added to the amount of IMcrchaudize, Cash ; and tiills Receivable on hand, to balance the si^grej^ate amount of net Capital invested. Ket Gains and liiils Payable is the exact amount of personal accounts on your books. «>l 38 roR^r or a fokeign iui.t. of excitan'oe. Excliangc for £2,000 sterling. .Montreal, Janiutry 2n(I, ]*^1G, At thirty ^Inys sight of this my Third of Ex'cliange (First iuul Socond of the same tenor and date unpaid) \)\\y to Ansel W. Shaw, or order, two thousand pounds sterling, with or without further advice from me. Yours, &.C. ficc. W. II. KicriMOND. To Mr. James Ilolnios, Ml Mr. James Holmes, > [erehaut, London. ^ FOKM or POSIESTIC BILLS OV EXCHANCii: OR INLAND DRAITS, XIOOO. Quebec, 3rd Jamiari/, 18-46. Thirty days from date, pay Henry Smith, or order, one thousand pounds currency, for value received. Your obedient servant, W. II. I^lCIIMOND. To Mr. Samuel Gates, Kingston. £1000. Mr. William Perkins: Sir, — At sight phrase pay S. II. Bond, or order, one thousand pounds, for value received, and oblige yours, k.c. W. II. KicmtoND. Toronto, January 5th, 1816. F0n3i Ol' I'nOMISSAUV NOTES, I'AVAliLE AT A BANK. £500. JMew GlufigflK', Jeniuari/ ]st, \SIG. Ninety days after date, I promise to pay Lewis Davis, or order, live hundred pound?, at the INIontreal Hank, for value received. W. II. Richmond. Sianstcad, January Is/, 184(>. £500. Three months from date, we jointly and severally promise to pay S. S. Ilill, or order, five hundred pounds, with interest, at tlie Leeds County Bank, for value received. JosTuni S. Drapeu, William W. Joseph. FORM Oil' A CHECH: ON A BANS. £750 0. Cashier of the liamiiton Bank, pay W. II. SmiUi, or bearer, seven hundred and fifty pounds. S. W. W. A. Refield. FORM OF A RECEIPT IN FULL. £50 0. Montreal, January \Oth, 1846. Received of Henry Williams, fifty pounds in full of all demands. W. H. Richmond. INTEREST TAr.LES, AT (J PKR CENT. (I'ltl I' VKKI) WITH GHl;\T CAIU;.) SI icwinj^ the [nlerest iVoin Five Shilliiu ,s to XI 2.50 0. ,1 Ainomil lilt Ol'Ost, llltlTC'St, iltlTOSt , , Int. •rest, . Iiil.Tfst, Interest, 1 Interest, Interest, ! 1 nterest, ' Interest, In .£ S. 1 inontli.2 inoiitlis. .') 1 1 ! months. 4 months. 5 months. G months 7 nioi iths.S months. 9 months. 1 2 months i '£ s. d.i.JC ^. d. £ s. (1 . £ s. d. [ £ s. .1. £ S. (1. £ s d. £ s . d. £ s. d. 1 £ s. d. ' ,'^0 O.V Of 1 i <^ 1] (t 1 1 1^ 2'. 2', • > 1 • > 3:}| loo uf l:j L (1 2.', •". 3. \\ 4^; -■^.1 7|! 150 Iji 2 1 L V 3V 4-; 5' , <;', 71 M' nil i 1 00 i.i; 2,',' ; ', Al G 7 sj !•; Oil 1 2^1 1 50 V- 3"! -1 i^ G 1 7.'. !» i oil 1 J l; 1 G 1 100 iv' 3.\ .■ )', 7',' !t" Oil 1 (),' 1 :-", 1 .; 1 1 !»f 1 150 2| ^ ( ;', Nl Oil 1 I 1 ;! 1 1; 1 71 2 1.} 2 00 2', 5 : 7] 0,' 1 1 2'. 1 1,' 1 7, 1 '••; 2 4^^ 2 50 3' 5.V 81 Oil II' 1 4 1 1 71 1 i'v 2 O', 2 8] 2 10 ;! G'i ! ) 1 1 3 1 (i 1 !l 2 (' (1 2 '» 3 5 00 (> 1 ' 1 ( ; 2 2 G 3 ;! G 4 ' 4 G < G 7 100 !) 1 (i 1 2 > 3 3 11 4 (i 5 •! , G ■ G ; 10 00 1 2 ■ 3 ) 4 { 5 G 7 ; 8 ' !» 12 i 12 100 1 3 2 (! i 3 ) 1 5 G 3 7 ( 8 i) ! 10 1 11 3 15 i 15 00 1 ♦; 1 ,"> : 4 G G 7 i; •J 10 G ! 1 2 ! 1.3 G 18 17 100 1 3 (J ! 5 3 7 solo 10 ( 1 2 3 , 14 ; 15 !) 1 1 20 00 2 4 1 G S ! 10 12 ( 14 1 G : 18 1 4 i 22 100 2 3 4G G !) !) 1 11 3 ; i;'. ( 1 5 '.) 18 i 1 ( 3 1 7 25 00 2 (5 5 7 G 10 , 12 G 15 ( ) ] 7 G 1 ■ 1 L G 1 10 50 00 5 10 15 1 1 5 1 10 1 ] 5 2 2 r > 3 75 00 7 15 1 2 G 1 10 ! I 17 G 2 5 1 ) 2 1 2 5 IL .' G : 7 10 i 150 15 1 10 2 5 3 ! ;: 15 4 10 5 5 G G i; ') !l 175 00 17 (5 1 15 2 1'' G ' 3 10 1 4 7 (i 5 5 G 2 G 1 7 7 r (i 10 10 200 01 o 3 4 5 G 7 , 8 (J !> 12 ' 1 225 0,1 2 G 2 5 3 7 G ! 4 10 5 12 G G 15 7 17 G !» 10 1 2 G i;; 10 '■ 250 01 5 2 10 3 15 \ 5 () 5 ; 7 10 8 15 10 11 . ') 15 1 375 0|l 17 G 3 15 5 12 <; 1 7 10 !) 7 G 11 5 ( ) 13 2 G 15 IG 1 7 G 22 10 : i 500 0'2 10 5 7 10 10 12 10 15 ) 17 10 20 22 10 30 j 025 0,3 2 G G 5 !) 7 G 12 10 ;i5 12 G 18 15 ) 21 17 G 25 28 2 G 37 10 1 750 03 15 7 10 11 5 15 IS 15 22 10 ) 2(i 5 30 3;5 1 J 45 iiooo o;5 10 ;i5 20 ,25 ;:o I) 35 40 45 GO 1 1250 0,(J 5^0 12 10 118 15 25 31 5 37 10 .£12 U3 15 50 5G 5 0^ 75 Slicwir s t'>c> Interest fi em €-2 10 to 50. .€2.'; to £2" (00 0. £ s. d. Days'£ S. d;f •.[ £ s. d. Montli'£ s. d.j £ s. d. 1 Yenr. £ s. d. Poiiiuls. D.n . £ .s d. f. 2 10 15 1 1.1 2 10 I ,0 3 2 10 3 25 1 , 1 5 15 3 5 1 G 5 o! . * G 50 1 1 1^ 7 10 15 4 h 7 10 1 ,0 9 7 10 1 9 75 1 ■003 10 15 ,0 G 10 1 10 10 . 12 100 1 i 4J 12 10 15 7 i 12 10 0, 10 13 12 10 15 125 1 4« 15 15 9 15 10 16 15 18 150 1 C 17 10 15 ;o 10 \ 17 10 0; 1 1 9 17 10 1 1 175 1 7J 20 15 1 20 Oj 1 'O 2 O! 20 1 4 200 1 7j^ 22 10 15 1 1 1. 22 10 1 t) 2 3i 22 10 1 7 225 1 9 25 15 1 3 25 1 'O 2 G 25 1^0 250 1 lOj 50 15 2 G 50 1 5 50 3 500 1 1 8 75 15 ;o 3 9 75 1 7 Gi 75 1 4 10 ■ 750 1 t) 2 6 100 15 5 100 1 10 100 G 1000 1 3 4{ 125 15 ,0 G 3 125 1 1 1 12 G 125 7 10 1250 1 4 H 250 15 :o 12 G 250 1 1 1 5 2.iO 15 1500 1 5 500 15 1 5 ( 500 1 ! 2 10 .")00 30 1750 1 5 10| 750 15 1 17 C j 7.50 1 3 15 7.")0 45 2000 1 G 8 1000 15 2 10 ( ,1000 1 'o OIOOO GO 2250 1 7 G 1250 r-. 7r—. — 15 ]3 2 G 112.50 1 a 5 t),l2,")0 .J_ 75 2500 1 8 4i iii\ 40 CURUKNCY TABLES. ' ti in 4> C U Pi R E N C Y TABLES, Converting Sterling Aloney into Currency, and Currency into Dollars and Cents. 1 i "1 !! 1 1 Di .liars i| Dollar.s 1 1 Dollars 1 i Sterling. , C urrcncy. : iiml 'j Sterling. Ciirroncy. j and il Currency. and ji Currcnrj. an.] i 1 1 Cents. 1 1 1 ' Cents. 1 Cents. i Centb. 1 1 £ s. (I. £ s. d. .f r/,- \ £ s. d. 1 : £ s. d. j $ f^. 1 1 .£ s. d. $ cts. 1 £ 1 *. .;. if (tx. 1 i \ 1 11 ?. GOO 7 G 29 20 1 3 5 1 15 7 00 ! 1:', lY 2 J 7 8 10 4 34 Gr; " G 10 i 2 8 00 2' 2,', ij ! 8 9 14 8 38 94i -' 9 15 I 3 12 00 i :.M ;iJ. .'j 1 9 10 19 43 80 10 1G2 ! 4 Hi 00 i i <> ;)' ;>^ G i 10 12 3 4 48 GG2 1 , 20 •' 5 20 00 ' ;•),', 4' G\ i 110 13 7 8 53 31 1 1 ,3 25 G 24 00 ' 4" .■; hI i 12 14 12 58 20 1 () ;io 7 2S 00 1 4.V .n K ' 13 15 IG 4 (53 2(;2 1 9 35 « 32 00 j .r G| 101 i 14 17 8 G8 13X i t) 2 10 9 36 00 1 6 7-1 12 j 15 IS 5 73 .) 3 45 10 40 00 ! 9 lOi is IG 19 9 4 77 8Gf '1 G 50 15 60 00 1 1 I 2', 24 17 20 13 8 82 731 2 9 'u^ \ 20 80 00 i " 2 2 .V' 48 1 18 21 18 87 GO 3 (JO 1 25 100 00 1 ;} ;i 7A 72 ! 19 23 2 4 92 4Ga 3 3 (i5 1 30 120 00 ; 4 4 10" 9G 1 20 24 G 8 97 33Jf 3 G 70 1 35 140 00 ,j C 1 1 21J 25 ,30 8 4 121 GG'j 3 9 75 ' 40 IGO 00 G 7 .'H 1 -I'l 30 .W 10 ]4G 4 80 ; 50 200 00 7 s -^l 1 70 35 42 11 8 ]70 33J- 4 3 85 i GO 240 00 8 9 8.i 1 94 40 48 13 4 194 G7 4 G 90 70 280 00 9 10 Hi 2 19 45 ■A 15 , 219 00 4 9 95 75 300 00 10 12 -Li 2 4.3 50 GO IG 8 ; 243 33 5 1 00 80 320 00 11 i;5 4i' 2 G7 GO 73 j 292 00 G 1 20 85 340 00 12 14 7"! 2 91 70 1 85 3 4 1 340 G7 G 3 1 25 ! 90 3()0 00 i;j 15 9' ;} 15 ;$ 39 80 f)7 G 8 389 33 G 6 1 30 I 100 400 00 14 17 90 109 10 4.38 00 7 1 40 ', 150 600 00 lo IS 2'-; 3 63 100 121 13 4 48G 67 7 6 1 50 1: 200 800 00 It) 19 r,\ 3 87 200 24,3 G 8 973 33 j 8 1 GO i 250 1000 00 17 ! 1 7? 4 11 ! 300 1 3G5 14G0 00' 9 1 1 80 \ 300 1200 00 18 j 1 1 10.il 4 35 400 48G 13 4 194G GG^- 10 2 00 1 400 IGOO 00 19 i 1 3 0;^ 4 59 500 : G08 G 8 2433 33.L 15 3 00 ' 500 2000 00 1 1 4 4 ! 4 SGI (>00 730 i 2920 00' 17 6 3 50 1 1000 4000 00 2 ; 2 S 8 ■ 9 7.3 ' 700 ' 851 13 4 \ 3406 m% 1 4 00 h 2000 8000 00 3 ;i l.i 14 ()0 : SOO '■ 973 G 8 ! 3893 33L j 1 5 5 00 : 2500 I 0000 00 4 4 17 4 ; 19 4() ' 900 1095 j 4380 00 I 1 10 6 00 i ■j G 1 8| 1 24 a3^. 1000 1 216 13 4 48G6 G6§ 1 1 1 t ' I. TARLKS. 41 TABLES Of the Gold and Silver Coins of diflerent Countries, their names, weight and value, ia Halifax Currency. Austrian Dominions : WF.iGiir. ^'alue in ! Dvvts. Grs. Halifax Cy. | Gold — Sovereign, Double Ducat,. Hungarian Ducat,. Silver-- Crown or Rix Dollar, Half Rix Dollar or Florin Convention,. . . Kopfstuck or 20 Kreuizer piece, 3 4 '2 18 9 14 12 1 0* 6| i) s. d. 16 10 1 2 11 Oil 53 4 9,? 2 4| 94 Bavaria : — Gold — Carolin, 6 Maximilian, 4 Silver— Crown, 18 Rix Dollar, 17 Kopfstuck, ; ^ 5i 4 2 12 6| 1 4 10 5 4 n 7 2| 91 Denmark Gold — Ducat, current, 1767,. Ducat, Specie, Christian, 1773, Silver— Rix Dollar, 1776,.... Rix Dollar, 1750,.... Mark, 1776, East Indies Gold — Rupee, Bombay, 1818,. Rupee, Madras, 1818,. Star Pagoda, Silver— Sicca Rupee, Bombay Rupee, Broach Rupee, England : — «* 2 2 4 18 17 4 7 7 2 7 7 7 Gold — Guinea, ^ Sovereign, '^ Silver— Crown, 1820, •.••••;•;■ '^ Shilling, 1820, 1843, (pass for 1/3 in trade,) 1 3 5:1 7 14 6 11 12 4| 12 II 10 11 1 9 0? , 1 5 3 4 8 8h 1 15 51- 1 15 6h 8 lU 2 4J 2 2i 2 A 81 1 5 1 6 i 2h I 4 4 4 5 9 15 i i 2^ 1 42 TABLES OF GOLD AND SILVEll COINS. NAMES OF COnVTRIES AND COLNS. WEIGHT. Dwts. Grs. Value in Halifax Cy. 'h- FnANCE : — I Gold — Louis d'Or, 178(!, -1 Double Louis d'Or, 9 Forty Franc Piece 8 Napoleon, 20 Francs, -1 Sih er — 5 Franc Piece, 1 G 2 Fianc Piece, Franc, > 3 Frankfort on ]\rAiNE : — j Gold — Ducat, 2 Geneva ; — Gold — Sequin, ! 2 IL^MBTRO: — I Gold — Ducat, 2 Silver— 16 Shilling Convention, | 5 Rix Dollar, Specie, ; IS Milan : — j Gold — Sequin, 2 Pistole or Doppia, 4 Silver — Crown, ]7 Austrian Livre 2 Naples : — \ j Gold — Sequin, 2 Ducat Piece, \ \ Oncetta, 3 Ducal Piece,, o Silver— 12 Carolini, ]- Ducat of 10 Carolini, 1818, 14 1 Carolini, j Netherlands : — i ! Gold — Lion or 1 4 Florin Piece, 5 Ryder,.. Q 10 Florin Piece, 4 Ducat, o 10 Guilder Piece, 4 Silver— Florin, q Escalin, . , o Ducatoon, qq Ducat or Rix Dollar, fg 22 20 7 r 11 r,3 r,3 51 20 18 £ 1 2 1 2 o IS 19 4 1 101 () 3 8 1 IV on 4i 11 A\ 5 11 31 ')1 n 19 n\ 4 H m 1 9i 20! • 7 11.V 10.1 12 5* 15 ; 4 9^ 18 3 9^ 11 : U i '4 : 1 5 n 9 1 10 2h 7.? i 1 0.T G^ i 11 ^k 8 : 1 n 22 , 1 lU 'li: 8 22 : 6 3^ G 5 Oi TABLKS OF GOLD AND SlTA'F.ll COINS. 4:i NAMES OF COUNTIUKS AXI> COKNS. WKiciTiT. Vahic ill Dwts. (Its. llixlil'ax C\. Portugal : — Gold — Dobraon, Dobra, Johannes, Moidore, leTestons or IGOO Reis,. Cnizadaof ISO Reis,.... Silver — New Cruzada, Parma : — Gold — Quadruple Pistola, Pistola or Doppin, 17i)(), . Of iMaria L\iisn, Silver— Ducat of 1784, Piece of 3 Livre, 5 Livre Maria Louisa,. . . Prussia : — Gold — Ducat, Fredei'ic, Silver— Rixthaler, 5 Silver Grosclienj. 34 IS 18 G 2 9 iS •1 ■1 IG 2 IG 2 4 11 9. Rome : — Gold — Sequin, since 1760 *" Scudo of Republic, ^1 Silver — Crown or Scudo, ' ' Testone, ';' Paolo, Russia : — Gold Ducat, 1763, Ducat, 1796, Ruble, 1799, Imperial, 1 80 1 , Half Imperial, 1801, 3 Half Imperial, 1818, 4 Silver— Ruble of 100 Copecks, 1750 and 1762,.. Ruble of 100 Copecks, 17G3 and 1807,. . 18 5 Sardina Gold — Carlino, ; ^^ Pistola, i f Sequin, '^ Silver— Crown or Scudo, 1 ^ New Scudo, 1816, I 16 12 6 22 G 161 1 9 14 3.'. iT 8? 5.^ 6.\ 9 4', Ol 1 2 17 6 18,? 20', 3.1 £ s. d. 8 3 0\ 1 6 6 1 1 20 5 2* 0~ 12 10 3 19 4 4 3 11 19 3 3:? •71 01 8 "1 ■71 Tl 3:^ lOA 6 61 11 19 4 1 11 11 3 1 19 19 19 4 3 7 7 11 4 4 8 0,? 6 6 3;? 1 4 8 2' i 8 0;^ 4? 6,? 44 TAIJLKS OF tiOLl) AM) SUA KU COINS. NAMFS OF COUNTHIKS AIS'l) COINS. nKicHT. Value in Dwts. Crs ]]alifax Cv. Saxow : — X s. d. .*':. ^' (iokl -- Ducat, 1797, - 2 Aiii>u:stii.s c»l' 5 Thalers, i 4 Silver— lii.v Dollar, : IS ]<^ioriii, i) Ciosclien,. Sic'ii.v :- Spain : — (Jolcl — Ounce, 17.0S, , Silvei' — ScutUi of 12 Taiinos,. Cold— Doubloous, 1772, Doubloons, since 1786, Pistole, Coionilla, A'iutcu!, or Gold Dollar,. Silver— Piastre, Peseta or Heal of 2, Sweden :— 1 5 17 17 17 4 1 17 3 Cold — Ducat, Silver— Rix Dollar, 48 Shillings, : 18 Third of u Rix Dollar, IG Shillings, ' * 6 SwiTZEKLAND '. — Gold — Pistole, 4 Ducat of Zurieh, 2 Ducat of Berne, ' 1 Silver — Crown of Bale, 18 Crown of Zurich, 16 4 Frankeu Piece,. . . . , : 18 Frank, < 4 TUEVES Turkey :— Gold — Ducat,, o Gold — Sequin Fondueli of Constantinople, 1773, ' 2 Half Missier, 1818, Sequin Fondueli, ' 2 Yermeebleshbeck, 3 Silver— Piastre, 1818, I . . . Piastre of 40 Paras, ' . . . 6" 1 0.'. 3l 17 14 8A 9 8| 3 8 18 5 17 5« 21 A 23 23 23 17;? 6 1| 114 ly 10 4 2 4^ n •1 n 5 2| 4 8:1 n 4 3 17 8 19 4| 4 10| 5 1 112 5 2.1 1 8| 1 2 11 9 3\ 9 11 5 4? 4 5 1 H\ 11 3^ 9 2 9 15 I 31 •I 91 TABLES OF GOLD AND SILVKll COINS. 45 NAMES Tuscany :- Gold - Silver- Venice :— Gold -- Silver- OF COUNTIUF.S AND COINS. WEIGHT. Dwts. Grs. Sequin, ; 2 Ruspoiie, i 6 Crown oflO Paoli, 17 Paolo. 1 Sequin, ' 2 •Ducat, 14 Ducatoon, 18 Talaro, ; 18 Ozella, 6 Wertembuko : — Gold Berne Carolin,. Ducat,. . 6 2 Brazil : Brunswick : — Cologne : — Columbia: — Hanover : — Holland : — Mexico : — Ducat, double in proportion, ; 1 Pistole, ' 4 Johannes, half in proportion, ' 18 Dobraon, ' 34 Dobra, ; 18 Moidore, half in proportion, | 6 Crusade, I ! Pistole, double in proportion, i 4 Ducat, I 2 I Ducat, i 2 Doubloon, > 17 I I Double George d'Or or single in proportion \ 8 Ducat, I 2 Double Ryder, I 12 Ryder, ! 6 Ducat, ! 2 Ten Guilder Piece, 5 do. in proportion,., j 4 Gold — Doubloons, shares in proportion, 17 Ten Thaler Piece, 5 in proportion, Ten Guilder Piece, 5 in proportion, ! . . Value in Halifax Cy. <£ s. d. 5| 11 OA 17^ 1 14 8' ' 13^ I ^ 2 ', 15| I 5i , i 6 I Oil 6A : 15i j 3 lOi ; I 5 5i I 13 ! 4 11 8 1 10^ ; I 31 1 4 6i 5' i Oil 2 j I 23 I 9 lOi 21 ! 1 2 Si 12 6 22 \6\ 2U 5| 4 5 Si, 8 3 6 4 6 6 1 12 9 3 2 1 2 8i 11 U 5| 11 3i 3 17 7i 13 6| 21 9 ^4, 1 19 11 4 5 8 3 1 1 10 2* 11 4 1 u 9 3 17 li 1 19 19 6 I M' ' e» i r EXCHANGE. h Exchange is the act of paying or receiving tlio money of one country for its ccjiiivalent in the money of anotlier country, hy means of Bills of Exchange. This operation, therefore, comprehends both tiie reduction of Monys and the negotiation of liills; it determines the comparative vahie of the Curj-encies of dilferent Countries, and shows how foreign debts are discharged, and roinittances made from one country to another without the risk, trouble, ?»• expense of transporting specie or bullion. A Bill of Exchange is a written order for the ])ayment of a certain sum of money at an appointed time. It is a mercantile contract in which four persons are mostly concerned, as follows : — First, — The drawer who receives the value, and is also called the maker and seller of the Bill. Second, — The debtor in a distant place, upon whom the Bill is drawn, and who is called the drawee, he also is called the Acceptor after he accepts Uie Bill, which is an engagement to pay it when due. Third, — The person mIio gives the value for die Bill, who is called the buyer, taker, and remitter. Fourth, — The person to whoni the Bill is ordered to be paid, who is called die payee, and vvho may, by endorsement, pass il to any other person. Many mercantile payments are made in Bills of Exchange, which pass from hand to hand until due, like any odier circulating medium ; and the person vvho, at any time, has a Bill in his possession, is called the holder. To transfer a Bill payable to order, the payee should express his order of paying to another person, which is always done by an endorsement on the back of Uie Bill. An endorsement may be blank or special. A blank endorsement consists only of the endorser's name, and the Bill tlien becomes transferable by simple delivery. A special endorsement orders the money to be paid to a particular person, who is called die endorsee, who must also endorse the Bill if he negotiates it. A blank endorsement may always be filled up with any persons name, so as to make it special. Any person may endorse a Bill, and every endorser, us well as the acceptor, is a security for the Bill, and may be sued for payment. la reckoning when a Bill, payable after date, becomes due, the day on which it is dated is not included ; when the time is expressed in months, calendar months are understood ; and when a month is longer thar. t'le succeeding, it is a rule not to go, in the computation, into a third month Thus : — if a Bill be dated the 23lh, 29th, .'lOlh, or 31st January, and payable one KXCllANtii;. 47 in (he (c'forc, l\s the Its are )!(', - Ir thvi wliich iiiOMtli aftrr date, the term equally expires on the hist day of February. \n endorscniciit may take phice at any time after the IJiil is issued, even after the day of payiiieni is ehipsed. W'iien the liulder of a liill dies, his executors may endorse it; hut by so doing lh(y heconic answerable to their cndoi'sce personally, and not as executors. A Bill payable to bearer is transferred by sitnjjle delivery, Avithout any endorsement. Bills should be presented for acceptance, as well as for payment, during the usual hours of business. The usual way of accepting a Bill is for the drawee to write his name at the btiltom or acioss it, with the word " accepted." When acceptance or payment has been refused, the holder of the Bill should give regular and immediate notice to all the parties to whom he intends to resort for payment, for if he does not they will not be liable to pay. With respect to tlie manner in which notices of non-acceptance or non-payment are to be given, a diflerence exists between Inland and Foreign Bills. In the case of Foreign Bills, a protest is indispensably necessaiy : Thus, a Public Notarv .appears with the Bill, and demands either aeee[)tance or jiayment (as the ease may be) ; and on being refused, he draws up an instrument called a Protest, expressing that acceptance or payment (as the case may be) has been demanded and lefused, and that the holder of the Bill intends to recover any damages which he may sustain in consequence. This instrument is admitted in foreign countries as a legal proof of the fact. The Protest on a Foreign Bill should be sent as soon as possiblle, to the drawer or nego- tiator; and if it be for non-payment, the Bill must be sent with the Protest. A Protest is not absolutely necessary to entitle the holder to recover the amount of an Inland Bill from the drawer or endorser, it is sulFicient if he gives notice, by letter or other- wise, that acceptance or payment (as the case may be) has been refused, and that he does not mean to give credit to the drawee. If the person, who is to accept, has absconded or cannot be found at the place mentioned in the Bill, Protest is to be made and notice given in the same manner as if acceptance had been refused. It is customary, as a precaution against accident or miscarriage, to draw three copies of a Foreign Bill, and to send them by diHTerent conveyances. They are denominated the First, Second, and Third of Exchange ; and when any one of them is paid, the rest become void. When acceptance is refused, and the Bill is leturncd by Protest, an action may be com- menced immediately against the drawer, though the regular time of payment has not arrived. His debt, in such case, is considered as contracted the moment the Bill is drawn.