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The Reader is defired to take notice, in the following Pages,

1. That the Buyer, who firft purchases the Bill of the Drawer, is fometimes called the Deliverer, fometimes the Taker, fometimes the Remitter, and at other Times the Negociator.

2. The Perfon the Bill is drawn upon to pay the fame, he it is that is called the Acceptant. 3. The Perfon the Bill is fent to, to get accepted, is called the Poffeffor.

THE

THE

NEGOCIATOR's

MAGAZINE.

E

CHAP. I.

SECT. I.

Of Exchange in general.

XCHANGE, according to the Accounts handed down to us by the Ancients, has been in Ufe upwards of 2000 Years. For Money was firft made out of Gold, Silver, &c. in order to avoid the Difficulty and Hazard of carrying various Merchandizes in Barter, from one Country to another. And, in Process of Time, Mints for the coining of Monies were erected by several Nations, and at length, the Method of paying by Bills of Exchange was contrived, not only to avoid the Danger of fending Species from one Country to another, but to prevent the Inconvenience of carrying it. Therefore the feveral trading

B

Kingdoms

Kingdoms and Nations of the World have, by a fovereign Power and Authority, established various Species of Money for the greater Convenience and Eafe of carrying on Traffic; and have ordained a certain Rate of Exchange for the Permutation of the various Coins of feveral Countries, without fending it abroad, by giving par pro pari, or Value for Value, allowing the Negociators a certain Confideration for accommodating the Merchants.

Of common Exchange.

COMMON OMMON Exchange was conftituted by feveral Kings, who having received Monies in England, would remit by Exchange the like Sum to be paid in another Kingdom; and in order to afcertain the Exchange, Tables were ordered to be fet up in the most general Ports of England, wherein were specified the Values of the foreign Coins of thofe Countries, with which the Subjects carried on Commerce, and the Allowances made for the remitting of Monies to fuch Countries.

R

Of real Exchange.

EAL Exchange was no more than this, that upon Payment of Monies here in England, the fame should be repaid its just Value in Money in another Country, according to the Price agreed on between the Officer and Deliverer, allowing for the Exchange of Money and the Lofs of

SECT.

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