Reply to Mr. Bosanquet's Practical observations ... - University Library

;
( II
)
case, their accuracy is disowned by Mr. Mu-
Shet liimself, who, in the second edition
of his
pamphlet, acknowledged the false principle
upon which his first tables were calculated, and
has given us a new and amended set.
The following notice accompanied the second
edition of Mr. Mushet's pamphlet: " In the
first edition of this work I stated the par of exchange
with Hamburgh at 33 schillings and 8
grotes, and at that considered it as a fixed par
from the best information which I have been
able to obtain upon 'Change since, 34.11^ are
considered ais the par, and in the present edition
I have stated it as such. / have also collected
the mistake of considering the par to be Jived;
because gold being the standard of the money
of England, and silver in Hamburgh, there can
be no fixed par between those two countries ^
will be subject to all the variations which take
place in the relative value of gold and silver.
For example, if 34 schillings 1 1 grotes and 4
of Hamburgh currency be equal in value to a
pound sterling,
or 1^ of ^ guinea, when silver
is 5*. ^d. per oz,, they can no longer be so when
silver falls to 5s. Id, or 5s. per oz., because a
pound sterling in gold being then worth more
silver, is
also worth more Hamburgh currency.
it
**
To find the real par, therefore, we must ascertain