Explanation of a Journal Parcel 217 Explanation of the Ledger 219 Explanation of Arbitration 237 F. Factory or Invoice how to make one 43 Factory the Copy of one 44 Folio what it is in a Book 47 Fraight what it is 81 Factor what he is and how qualified 112 Factorage what it is instances of it 113 Feathers sold at Time 211 Fair Journal the use of it 217 G. Goods how to know what sold what rests 58 Goods according to the Appraisement 167 Goods at first cost ibid. Goods bought for my own Accompt how to book them 210 Goods bought of 2 or 3 men in one day 210 Goods bought for ready Mony 210 Goods bought part Mony part Time 211 Goods bought with Goods ibid. Goods sold for Mony ibid. Goods sent out for my own Accompt 213 Goods sold beyond Sea by my Factor how to make him Debtor 213 Goods sent me for my accompt in returns 213 Goods sold to a Man that breaks 214 215 Goods sold for a Friends Accompt to a Man that breaks 215 General Rule to enter any Parcel by 216 H. Houses how to Book them 204 I. Invoice Tare what it is 15 Interest in its several kinds 117 Interest how to cast it up exact 119 120 Interest at 7 8 10 c. per Cent. 122 123 Increase of Mony by Interest 123 124 Insurance what it is 142 143 Insuring Goods outward bound 148 Insurance on Goods bound home 148 Insurance on Lives of Persons 149 Insurance-mony how cast up 153 154 Importation the meaning of it 197 Inventory the nature of it 204 Indenture the meaning of it 235 K. Knowledg of Goods required in a Merchant 236 L. Letters for marking how to make them 13 Letters how to lay them up 36 Letters how to write them 40 Letters the form of one 41 Letter of Credit what it is 105 107 Loss by Insurance what must be done 155 Letter of Licence what it is 173 174 175 Legacy received by me how to book it 207 Linens sent me by a Man to sell 214 Linens sold by me for another Man in barter for Goods Mony c. ibid. Ledger the use and meaning of it 217 Ledger the manner of ruling it 218 M. Multiplication the use of it 4 Mark and Number what it is 11 Merchants Duty as to Marks 12 Measuring Goods 16 Marks how to make them 13 Maxims about getting in Debts 180 181 Manufactory what it is 189 Monopolie what it is ibid. Mony I take up at Interest to book it 205 Mony received for Insurance to book it 206 Mony I lend out at Interest ibid. Mony receiv'd for Insurance for my Accompt 206 Mony paid for Insurance for another ibid. Mony received on a Bill of Exchange at time 208 Mony reducing one Nations Coin into that of another 242 243 244 245 246 N. Numbers what they are 14 Number upon pieces of Goods what they be 57 Non acceptance of a Bill of Exchange 93 O. Orders given a Factor nature of them 112 113 Ordre Libre what it is 113 114 Outlawry what it is 185 P. Pocket-Book 11 Pages what they are in a Book 47 Profit and Loss which is which 59 Petty Expence-Book what it is 74 75 76 Publick Notary what he is 93 94 95 Protest of a Bill of Exchange what it is 96 97 Persons named in a Bill of Exchange 98 Price allowed Broker for buying or selling 111 Price allowed Factors for buying or selling 113 Power of a Factor to compound a Debt 116 Pawn-Broker what he is 126 127 Procuration what it is 128 Policy of Insurance what it is 144 145 Proposals of Men failed in Business 158 159 Payments to be made with security 161 Personal Security what it is 162 Procuration what it is 187 Price-Current what it is 196 Prohibited Goods what it means 198 Paying a Man Mony how to book it 205 Posting in the Ledger 221 Pricking of Books what it is 224 Pricking Books twice over 225 R. Rules necessary in Arithmetick 1 Receipt from the Master or Pursex of a Ship 30 Receipt-Book what it is 79 80 Redrawing a Bill of Exchange what it is 105 Release a general Release what it is 159 160 Real Security what it is 164 Rates of Merchandize or Book of Rates 197 Receiving Mony how to book it 205 S. Substraction the use of it 3 Sending Goods home when sold 26 Shipping off of Goods 28 Signing what it is 159 Sealing what it is 159 Single Security upon Bond what it is 165 Selling Goods by Lots 191 Seizures what they mean 199 201 Smuglers who they are 201 202 Smugling what it is 202 T. Tare what it is 14 Tares how to set them down 16 Tret what it is 23 Tret how to cast it up ibid. Time given in Bills of Exchange 101 Tally-men what they are 125 Thoughts fit for a Merchant 236 V. Unlading of Goods 32 Usance what it is 99 100 Usurers what they are 124 Umpire what he is and his Work 241 W. Work the first a Boy is put unto 6 Work in weighing Goods 9 Weigher the meaning of that Name 10 Weights of Goods to set them down 15 Weight to reduce Gross into Small 22 Weight Gross the meaning of it ibid. Ways to attain to be an exact Factor 114 115 Writing Letters when necessary 115 Witnesses what they are 159 160 Writ from the Kings Bench what it is 185 Way of selling Goods by the Candle 195 Waste-Book what it is and how made 202 Wines sold part Mony part a Bill part in Logwood part at Time 212 Advertisement THat rare Invention of Cake Ink so convenient for carriage as well by Land as Sea already experienced by many thousands in England and Forreign Parts to be the blackest fluentest and strongest Ink yet invented and the more desirable because he that hath the least bit of it in his Pocket is possest of the best Ink. Is to be had at Mrs Vernons Coffee-House against Vintners Hall in Thames-street in London or at Benj. Billingsley at the Printing-Press in Cornhil with directions how to use it These Books of Accompt are sold by Benjamin Billingsley at the Printing-press in Cornhil 1. Speculum Mercativum Or the young Merchant's Glass Wherein are exact Rules of all Weights Coins Measures Exchanges and other Matters necessary used in Commerce As also variety of Merchants Accompts after the Italian way of Debitor and Creditor in Factorage Parnership and Barter likewise the method of keeping Pursers Books By John Every at Barnstaple in Devon In Folio 2. Creditor and Debitor made easie Or A short Instruction for the attaining the right use of Accompts after the best method used by Merchants fitted to the Trades and Ways of dealing in these several capacities Viz. The Youth or Young Scholar  The Husband-man or Farmer  The Country-Gentleman  The Retailing Shopkeeper  The Handicrafts Man  The Merchant By Stephen Mounteage In Quarto 3. Advice to the Women and Maidens of London Shewing that instead of
their usual Pastime and Education in Needle-Work Lace and Point-making it were far more necessary and profitable to apply themselves to the right understanding and practice of the Method of keeping Books of Accompts whereby either single or married they may know their Estates carry on their Trades and avoid the danger of a helpless and forlorn condition incident to Widows With some Essays or Rudiments for young beginners in twelve Articles By one of that Sex In Quarte The Compleat Compting-house YOUTH I Am a young Lad that have been at School some time and have gone through most part of Arithmetick and would willingly be now made fit for a Merchant either to serve my Time at home or to go abroad which my Friends shall think most convenient for me But I know not what use to make of what I have learnt Master What Rules have you learnt at School Yo. I have learnt Addition Substraction Multiplication Division The Rule of Three And Practice Mr. What use are these Rules put unto let me know and begin with the first of them Yo. The first is Addition and that teacheth me to see what many several draughts of Weight lengths of Stuffs or Sums of Money put together do amount unto in the whole Mr. Can you shew me any Example of it Yo. Yes Sir I believe I can My Father sent me the other day to take some Stufs with our Man from several Places I had of our Packer 6  Dyer 19  Presser 17  Drawer 4   46 And in all I brought home 46 Stuffs from those several Places and when I had them he ordered me to measure them And the 6 held 227 yards  19 1172  17 964  4 142  46 2505 yards So that I esteem the 46 pieces held 2505 yds Mr. You are right and by the same Rule you may give an answer if you do receive any quantity of Money of several Men what is received in all Or if you sell any Goods by Weight what several Draughts come unto being added up together But what can you tell me concerning the next Rule which you call Substraction Yo. I believe Sir I can answer that likewise for I have been already sent abroad to receive some Moneys and have been ordered to pay some out again and I believe what remains is the answer to your question Mr. You are in the right But cannot you give me an Instance how you did it Yo. Yes Sir I remember I received of Mr. Web l. 42 16 4  Mr. Long 64 9 3  Mr. Shaw 92 3 4  l. 199 8 11 And my Father ordered me to pay out again to three Men some of the Money To Mr. Dixe l. 40 00 00  Mr. Jenny 90 00 00  Mr. Cook 10 00 00  l. 140 00 00 And having received l. 199 8 11 d. and paid out l. 140 00 00 d. there remains by me the sum of l. 59 8 11 d. Mr. You are in the right and so it is done if he had ordered you to receive Stuffs Sugars c. and to sell out again or deliver any part of them to any body to see what remains But what say you to the next Rule you call Multiplication Yo. This Rule I imagin saves much time in putting down several Sums and then adding of them up for by Multiplication I can see immediately what they come all unto without Addition if it be but a single Multiplication for if my Father give me 3 d. for 9 days together I need not set down 9 times 3 d. but set down 9 and multiply by 3 for 3 times 9 is 27 d. And by this Rule of Multiplication I can tell you many things As suppose I am sent to School 9 miles from home and I have been at School 224 times then I have gone 2016 miles whereas if I should set down 9 224 times it would be very tedious and troublesom Mr. What say you of Division and what use do you put that unto Yo. That answers me many Questions For if I would know how many shillings there is in 100 d. I need only divide 100 by 12 and there comes out 8 s. and 4 d in the Quotient and is exceeding useful in the working of many Questions as if there be 21469 Inches if I divide it by 12 then I know that there are 1789 Foot and 1 Inch and if I would know how many Yards there are I do but divide it by 3 and there are 596 Yards and 2 Foot Mr. This is very true as I shall explain to you in many things hereafter And indeed all manner of Questions are answered and wrought by Addition Substraction Multiplication and Division let them be never so hard and difficult Yo. Sir I have often heard of many short Rules that are used by Merchants which cut off that tedious way of the Rule of Three but never could do any of them nor have I ever seen them done Mr. If you resolve upon learning the Mystery of a Merchant and that you will seriously bend your Mind unto it I will endeavour to instruct you in any thing that is necessary thereunto Yo. Sir I return you my hearty thanks for it and do assure you I shall not only be very careful in observing your directions but also very thankful for the same and hope you will pardon my troubling you with many mean and insignificant Questions which through my ignorance I shall be forced to ask you Mr. I shall be very willing to hearken to all your Questions and to answer them to the best of my skill Yo. I pray Sir let me know then the Work I shall be put upon when I come to be an Apprentice from the lowest unto the highest Mr. The first Work you will be put unto and which indeed is the lowest you can be put unto is the fetching Letters from the Posthouse and carrying Letters to the Post-house in the discharge of which there requires not much skill but a great deal of Care Honesty and Diligence Yo. Sir I cannot conceive what great matter this may be to me for a Porter may carry a Letter or a Maid or Foot-Boy Wherein can my Care Honesty or Diligence be discern'd in this Matter Mr. In several respects a Master may be damaged very considerably If the Servant be not careful and honest his Letters may be lost or may miscarry or may come too late for him to answer his Ends. Yo. I desire you then Sir to shew me how I shall avoid doing my Master harm in this particular and how I may discharge my self as I should and I will endeavour so to do Mr. You must be sure when you are sent to carry Letters to the Posthouse to tell the Letters as you receive them from your Master and tell them in again to the Post-Office for if you receive twenty Letters and lose one of them by the way that very Letter may undoe your Master and it is
Business be compleated and having paid your Mony in the Morning if you go to the Ship in the Afternoon you will find there a Warrant for the delivering your Goods unto you Yo. Wherefore then do Men say That there is much dammage to be gotten by going to the Custom-house and many a young Man is ruined thereby therefore I pray Sir tell me what I must do to avoid this danger Mr. Certain it is That there is much dammage to be gotten by going to the Custom-house and many a Man is ruined thereby and there are several ways to ruin a Man if he hath not an especial eye over his Actions there For Example 1. There is opportunity the Master cannot judg of the Servants time here so well as at another place for sometimes his Business may be dispatcht in half an hour that at another time cannot be dispatcht in two hours and here the Servant although he tarries two or three hours cannot be blamed But then the misery is there is a parcel of poor Fellows that hang about the Custom-house that for 6 d. or 1 s. will take your Note and Mony and whilst the Servant sits in an Alehouse will do his Work herein Although the Master is not dammaged his Work being done yet the Servant gets idle Haunts and comes acquainted with idle Company and is many times by this acquaintance drawn into such Inconveniencies that is not to be imagined Another Injury he is liable unto is That many times by such Fellows means Business is not quite gone through with or they meet many times with disappointments and then both Servant and Master too are injured Again the Servant having command of Monies is tempted to be spending that which is not his own and if so then he is forc'd to make it up again by many unlawful ways as entring Goods short or entring one Commodity for another and many little pilfering things that are not minded by them because they pass many times undiscovered and sometimes again are found out and then it is too late or else they to patch up that as the Tinker make another Hole far greater which is not yet perceivable but in short time after makes the Remedy then used worse than the Disease It hath been observed for many years that Merchants Men have gained the most of their Ill-habits by the loss of their time in such kind of Company Besides there are several things in which they are much outwitted by reason of their ignorance by Land-Waiters Tydes-Men c. And therefore you are to have an especial care of being tempted to enter Goods too short or of landing Goods before the Customs be duly paid for there are many crafty Blades will endeavour to perswade you there is no danger in it and you being young will think so until you are caught which thing brings many a sober Lad into much trouble and his Master to great dammage Yo. But now Sir having been in this manner taught what I am to do at the Water-side c. in shipping or unlading Goods I desire you to return again to the Compting-house and shew me what I shall be imployed in next Mr. The next thing your Master may find you fit for may be for copying of Accompts or Factories into his Books before the Originals go away Yo. Before I go any further I desire you Sir to let me know what is requisite to the making up a Compleat Compting-house for by that means I shall be the better able to remember my Work when I know what Tools I shall work withal And therefore I desire to know the Nature and all the Materials as well Books as Papers c. that belong to a Compting-house Mr. As to a Compting-house almost so many Merchants so many Minds or Fashions but although they differ in trivial Things yet in the substantial Things they do not disagree much In a well-govern'd Compting-house there must be these following Things Viz. 1. A good handsome large Room lightsome and pleasant about ten or twelve foot square there being nothing more agreeable to a Merchant that minds his business than room for there 's no pleasure in being squeezed up to a narrow place where much business is to be done 2. There must be two convenient Tables one for the Master another for the Man or Servant either made shelving as Desks or else flat which you are best used to 3. There must be convenient places for your Letters you receive and herein Men differ much some are for folding up their Letters and endorsing on the back-sides from whence they come when received and when answered and then putting them up in square Boxes for that purpose like Pigeon-holes before them And others are for having so many Files as they have Places they receive Letters from and file them up as soon as they are answered Yo. Which way will you advise me then to take of the two Mr. Truly of the two I think filing them up is the best for there you turn to the Letter in a minute and find out the Passage without having the trouble of folding or unfolding Letters to look for what you have occasion but have recourse to them immediately and so hang them up again but whether they are folded or filed they must be both ways taken down at the Years end and put up in a large Box for that purpose and then you may have recourse unto them when you please to view any thing as you have occasion with the Date of the Year upon the Box. 4. The like may be done by your Bills of Exchange or Recepts for Money or any other odd Papers too tedious here to set down Yo. How often must I file up or fold up these Letters Mr. As often as your Time will permit you At the going away of each Post is the best time for then all your Letters are answered and you have nothing else to do with them 5. The next thing you are to have is to be provided with useful Books for your Compting-house such as are necessary for you and they are 1. A Copy-Book of Letters to copy out all the Letters that are sent out word for word 2. A Book wherein you copy out each Factory or Accompt that comes to your hands from beyond the Seas of Goods sent your Master 3. A Book to copy out all the Factories your Master sends out of England 4. A Bill-Book to see what Bills you have to pay and what to receive this is called a Month-Book 5. A small Book wherein you note all the Orders that are given you for the buying or selling of Goods 6. A Book wherein if you have much Commission-Business you put all the Goods you are to receive on board any Ships that comes for England or any other place where you live that you need not run to the Letters 7. A Cash-Book 8. A Book of petty Expences 9. A Receipt-Book 10. A Waste-Book 11. A Journal 12. A
for any of these Mens Accompts James Ascue c. Samuel Beek  Will. Crouch  Sam. Davis  Jos. Edmunds  John French  Take the Surname and look under what Letter it is and the first is James Ascue say Ascue James under the Letter A and set Folio 1 Beek Samuel Beek under the Letter B Folio 2 and so for the following names Now when you have occasion to look out Samuel Davis his Accompt see Davis Sam. under the D. and you will find it to be Fol. 4. and so of the rest Yo. What is the meaning of pricking a pair of Books over Mr. By the pricking of a pair of Books is meant one Man's taking the Journal and calling that over against the Waste-Book that is read Article by Article by another Man and when they have done with that then to have one Man take the Journal and another Man the Ledger and repost every Parcel as if you were really posting it anew again and against each mark make a prick Yo. Pray let me see an Example of that that I may know how to do it Mr. You may suppose this Article of the 26th of May of James Webster to be the thing in question When you have posted the Debit the figures will stand thus .17 19 and when you have examined both Debit and Credit it will stand thus .17 .19 If you should have occasion to prick your Boooks twice before you find out the fault then will they stand thus ..17 ..19 or thus .17 .19 which you like best Yo. What is meant by the ballancing of a pair of Books Mr. By the ballancing of a pair of Books is meant taking a sheet of Paper and setting the Ballance of each Accompt under one another the Debit altogether and the Credit in like manner altogether and if both sides do equally ballance with one another then are the Books right but if they do not then the Books are wrong and you must prick them over until you find out the Error Yo. Having thus explained the meaning of the several Books unto me I desire you would now answer me two or three Questions which I find I am ignorant of Mr. What are they Yo. The first is Charter-Parties which I find mentioned by you but know not what you mean when you speak of them Mr. Charter-Party is the same thing to a Merchant as a Lease is betwixt Landlord and Tenant herein are all things necessary contained that belong to an Agreement betwixt a Merchant or Merchants in freighting of a Ship and the Master or Master and Owners sometimes of the said Ship Yo. For my further light into this Business I desire you Sir to let me know what it is and let me as you have done here in like cases see some form of a Charter-Party Mr. That you may do in the following form which is a Charter-Party word for word The Copy of a Charter-Party of Affreightment THis CHARTER-PARTY of Affreightment indented made the _____ of the Month of _____ Anno Domini _____ and in the _____ of the Reign of our Soveraign Lord Charles the Second by the Grace of God King of England Scotland France and Ireland Defender of the Faith c. Between _____ Master under God of the good Ship or Vessel called the _____ of the Burthen of _____ Tuns or thereabouts now riding at Anchor in the River of Thames of the one part And _____ of London Merchants of the other part Witnesseth That the said Master hath granted and letten the said Ship to Freight unto the said Merchants And that they the said Merchants have accordingly hired Her for the Voyage and upon the Terms and Conditions following That is to say The said Master doth covenant promise and grant for himself his Executors and Administrators to and with the said Merchants and either of them their and either of their Executors Administrators and Assigns by these Presents That the said Ship strong and staunch and well and sufficiently Victualled Tackled Manned and Apparalled with all things meet needful and necessary for the performance of the Voyage hereafter mentioned Shall by the first and next fair Wind and Weather which God shall send after the Date of these Presents depart from the Port of _____ with all such Goods and Merchandizes as the said Merchants or their Assigns shall in the mean time lade and put on board Her And therewith directly sail and apply unto _____ as Wind and Weather shall best serve for the said Ship to sail And being arrived as near to the said place of _____ He the said Master or Assigns shall and will within _____ working days next from and after such Her arrival to be accompted not only unlade and deliver the said Goods and Merchandizes put on board the said Ship at _____ aforesaid unto the said Merchants their Factors or Assigns or some or one of them in safety and well conditioned the Dangers of the Seas and Restraint of Princes and Rulers excepted But also shall and will receive relade and take on board the said Ship of and from the said Merchants their Factors or Assigns or some or one of them all such Goods and Merchandizes as they or any of them shall there please to lade and put on board Her to the said Ships full and compleat Lading that is to say as much as can conveniently be stowed in the whole Hold and between Decks afore the Main-mast room only reserved for the said Ships Provisions Tackle and Apparel And the said _____ working days being expired or the said Ship there sooner dispatched which first shall happen He the said Master or his Assigns shall and will with the then next opportunity of Wind and Weather from Her said unlading and relading Port of _____ aforesaid directly sail return and come back with the said Ship and Lading unto the Port of _____ And here within _____ working days next after the said Ship shall be entered in the Custom-House of this said _____ he the said Master or his Assigns shall and will unlade and deliver the said Goods and Merchandizes laden on board the said Ship at her unlading and relading _____ aforesaid unto the said Merchants their Executors Administrators or Assigns in safety and well conditioned the Dangers ' of the Seas and Restraint of Princes and Rulers excepted and so end the said intended Voyage And the said Merchants do covenant promise and grant for themselves and either of them their and either of their Executors and Administrators to and with the said Master his Executors Administrators and Assigns by these Presents That _____ Executors Administrators Factors or Assigns shall and will not only unlade and relade the said Ship at her unlading and relading Port of _____ aforesaid and dispatch and discharge the same at this _____ in manner and form as above exprest and within the respective dayes and times above mentioned But also shall and will in full of all Freight to be due payable or