This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1836 Excerpt: ...then a bill for 100/. sterling is said to be equal to 120/. sterling: this latter sum, turned into Jamaica currency at 40 per cent., makes a ...Read MoreThis historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1836 Excerpt: ...then a bill for 100/. sterling is said to be equal to 120/. sterling: this latter sum, turned into Jamaica currency at 40 per cent., makes a bill for 100/. sterling require about 168/. currency. The relative value of the currencies of the mother country and colony varies, of course, from this ratio, as bills may at the time bear a higher or lower premium. In Barbadoes, or the other colonies, the currency, as compared with sterling, varies according to the demand for bills. The real exchange depends on the price which may be paid for a bill of exchange. Sometimes the price or premium has been 22 per cent.; sometimes bills have been at a discount of from 7 to 10 per cent. In the former case, the buyer of the bill pays 20 per cent.; and in the latter he receives from 7 to 20 per cent. At the established rate of the dollar in Jamaica, 4s. 3d. sterling will be equal to 6s. currency, or 14s. 3d. sterling to 1/. currency. The metallic currency in the island is estimated at 100,000/. A silver standard and copper coinage for all the West India possessions (of a depreciated value to that of MONETARY SISTEM. 125 the English coinage, so as to keep it in the settlements) would probably be productive of considerable benefit. I am glad to find that a West India bank, with its capital and direction in London, has at length been established; it cannot fail to be productive of the most beneficial results. The paper currency of Jamaica consists of the island checks, issued by the receiver-general, under the orders of the board of accounts, and upon the security of the island and its revenue. The coins in circulation in the island, of gold and Of the gold coins, the doubloon is equal to sixteen dollars; pistole to four; joe to sixteen and a half. Of the silver coins, the dolla...Read Less
Good. 12mo-over 6¾"-7¾" tall. Volume 3 of a 10 volume set comprising "a popular and authentic description of all the Colonies of the British Empire ", the geography, geology, climate, vegatation, religion, monetary system, commerce, social state etc. This volume covers Southern Africa including the Cape of Good Hope, Mauritius and the Seychelles. Covers are worn with some marking but interior is solid and unfoxed.
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