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-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
what you mean by your next Book which you call a Cash-Book Mr. By a Cash-Book I mean a small Book that is ruled Pounds Shillings and Pence and is Folio'd not Paged because there is a Debtor and a Creditor both appear before you Yo. What use is a Cash-Book put unto and who uses it Master or Servant Mr. He that keeps the Money is Master of the Cash-Book and he is to write all himself in the Cash-Book on the one side and on the other side what is paid out to be put on the right side and what is received put on the left Yo. Pray Sir let me see some Instances of this Cash-Book in what nature it is 1676.      Cash Dr.      l.   May 1 Received of Thomas Long 100 7 Received of Samuel Webb 234 9 Received of David Knowles 74 8 6 17 Received of James Kiffin 122 1 4   520 9 10 1676.      Cash Cr.      l.   May 4 Paid Thomas Winter a Bill AP 25 6 4 11 Paid William Web for Tallow 96 4 3 17 Paid Sam. Jobson in full 73 6 8 24 Paid James Buck a Bill 100 28 Paid Maid for House-keeping 5    300 00 3 Thus you may see an Instance of this Book and here by adding up each side you see presently the quantity of Money that you have by you in Cash Yo. How doth that appear Mr. Thus add up the left side which is the Money received and you will find that to be l. 520 9 10 d. and add up the Creditor side and you will find that to be l. 300 0 3 d. Then substract the lesser from the greater and you will find the Sum to be l. 220 9 7 d. which is just what is in Money by you at the time of your making this Addition and when you have done this you are as well satisfied as if you had taken your Money and told it if your Cash-Book be right Yo. Pray explain to me what I must write on either side of this Cash-Book Mr. You must when you receive any Money take the Cash-Book and on the left-hand side or Debtor side 1. Set the Month. 2. The Day of the Month. 3. Of whom received and for what as much as one Line will well contain 4. The Sum of Money in the Margent As May 1. Received of John Long l. 100 0 0 And so just in the same nature for the Credit side of the Cash-Book unto whom paid Yo. But may not my Master write in this Cash-Book as well as my self Mr. I have known this Case examined and found the Master cast Which may serve as a Rule for all Masters not to meddle with their Mens Cash-Books that when a Master hath written as well as the Man the Servant hath been acquitted and the Cash could not be called his because his Master had put down what he pleased although in truth the Master had done nothing but set down two or three Sums which he had received and given the Man at his coming in Therefore this may serve for caution unto Masters Yo. What mean you Sir by this Book which you call a Book of Petty-Expences and who keeps it Master or Servant Mr. This Book is generally kept by the youngest Apprentice and is a thing very easie to be understood Example The Man that keeps the Cash is not to trouble himself with putting down such small frivolous things and therefore this Book is provided to hinder the filling of the said Cash-Book Yo. Pray Sir let me see in what mānner is this Book made and what must I write in it Mr. That you shall and here you must note That when you go to the Custom-house and have entred any Goods inwards or outwards you must before you put the Charges down in your Cash-Book if the Sum be great be sure to make a Note of all the Particulars and put that Note upon the File of Waste-Papers The Note is made thus Suppose your Master hath sent you to ship off 10 Bayl 's of Calves-Skins aboard a Ship for France 1. Specifie the Ships Name 2. The Masters Name 3. Where She is bound 4. His Name you enter the Goods in 5. The quantity of Bayl 's Packs Barrels and Marks 6. The quantity of Goods 7. The Custom you pay 8. The other Petty-Charges In the James William Pope bound for Roan Tho. Johnson Draper AP. N o. 10 Bayl 's Cont. 50 dozen of Calves-skins 20 June 1677. 1 to 10.  Custom 7 10 0 Cocket 0 3 4 Searchers 0 5 0 Carmen 0 2 6 Boat-hire 0 1 0 Key and Crane 0 2 0  8 3 10 This l. 8 3 10 you must carry to your Book of Petty-Expences or Cash-Book which you think most convenient 1676.      Petty Expence Dr. l.   Novemb. 19 Received of Cash-keeper J. D. 20 24 Received of Cash-keeper W. G. 25 27 Received of my Master J. J. 5 1676.      Cr. l.   Novemb. 20 Paid for Post-Letters 9 4 Paid Porterage of Goods bought of W. G. 1 7 Paid Charges on 10 Bayl 's of Skins AP. 1. on File 8 7 10 27 Paid the Stationer for Paper 3 17 6 Decemb. 10 Paid Letters from Plantations 1 7 2 14 Paid Rent of 4 Cellers Wapping 7 19 4 Having thus put these several Sums of Money received and paid it is much after the Nature of a Cash-Book and you may if you please have such a Book or not Great Traders as I said before will not have their Cash-Book cluttered with so many small and frivolous Articles and indeed it is not fit for a Cash-keeper or a Man of considerable Business in the House to have to do with such small and such inconsiderable Trifles as these are Yo. That may be as my Master pleaseth I see it is in the same nature as a Cash-Book and I shall observe your Rule But what is your next Book that you call a Receipt-Book Mr. This Book is of no trouble at all but is exceeding useful and much Money is carelesly lost for want of it For if you take Receipts for Money upon Papers and then scatter them carelesly you are subject to lose them or when you want them cannot find them without much trouble therefore a Receipt-Book is convenient and here an ordinary midling Book will serve a Man 20 years time Yo. Pray Sir be pleased to let me see the Method of it and how it ought to be kept Mr. This Book ought to be bound long-long-ways instead of broad-broad-ways as other Books are for generally Receipts are short and little Paper serves and therefore it would be but waste to Rule it and Bind it broad-ways but let it be long-ways and ruled with a Margent and Pounds Shillings and Pence and instead of being Folio'd let it be Paged and so if you have occasion
of Silk at 5 s. 5 d. ⅜ per Ell. 1470 Ells of Cloth at 4 s. 6 d. ½ per Ell. 237 lb ½ of Cinamon at 34 s. 9 d. per lb This every School-boy can do But the chief matter is this whereof I will now shew you an Example or two and all the rest are the same Viz. Example A Man lives at Paris in France and writes me word he hath sold some Goods for me the Nete proceed of which is l. 4276 17 6 d. French-Mony and he will remit me the same Mony at 54 d. ½ per Crown how shall I know whether I am cheated or no I know how to cast it up very well if it be so many Crowns at 54 d. ½ but I know not how to bring these l. 4276 17 6 d. into Crowns Mr. You must enquire how many French Pounds make a Crown and you will find three Divide the 4276 17 6 d. by three thus And there remains one pound in the Quotient that is 20 Solz and the 17 Solz 6 Deniers being added makes 37 Solz 6 Deniers So that the answer you will have is you will find just 1425 Crowns 37 s. 6 Deniers Now if you cannot tell how many Livers Solz and Deniers makes the Coin you exchange in how can you tell what it is that you are to have in Crowns for he may as well make you good but 1214 Crowns as your due 1425 and you never the wiser The same may be done also for Spanish-Mony your Factor at Cadiz writes you word he hath sold as many Goods for you as come to 8756 Ryals Plate Now you accompt in Ryals Plate but you exchange in Pieces of Eight and it behoves you to know how many Ryals Plate makes a Piece of Eight there is 8 divide 8756 by 8 and it is Now these 1094 pieces of Eight ½ at 47 d. ¾ is no other than 1094 ½ Ells of Holland at 3 s. 11 d. ¾ per Ell And this may serve you as a general Rule for all Exchanges and the daily practice you will meet with will give you better satisfaction than any thing else can do Certain Directions how to examine your Books if they do not ballance 1. Examine your Journal against your Waste-Book to see if that agrees 2. Examine the Journal and see if the additions of the inside Column be right and that they amount to the Sum in the Margent 3. Prick over your Ledger against your Journal to see if each Parcel be truly posted into the said Ledger out of the Journal Put at the end of each Line in the Ledger this mark or which you like best with a Red-lead or Black-lead Pencil 4. Examine your Ballance-sheet if the Credit be not put for the Debit 5. Re-examine each Folio in the Ledger to see if there be no Errors in their particular Ballances and in those Additions and Substractions 6. Re-examine each Accompt although it stands ballanced on the Ledger to see if it be true for many times a fault escapes 7. Examine the examining-marks in the Ledger before mentioned to see if there be not some Parcel wants a mark and the reason of it And I will confidently affirm to any Man that when you have with diligence sought these several ways you will find it out for if 2 times 3 be 6 or 6 times 3 be 18 so true is it your Books will come out even in the Ballance-Sheet for all that is in Books is but dividing an entire Sum into many parts which must all come to the same end at last Example 32 Divide it thus 9   17   1 When added up is  32 Yo. What else have you Sir that you can advise me to do in order to my being an exact Trader Mr. Mind these things I have now laid down and be perfect and expert in them and by that time you are expert in these things it is possible they may have taught you many others by experience for in Trade one thing leads to the knowledg of another as one Link of a Chain hangeth unto the other FINIS 1.