In the trade today booksellers are allowed a reduction on the nominal price of a book which enables them to sell to their customers and make a profit without exceeding the recommended retail price. This principle obtained in Plantin's time but its application seems to have been far from standardized. Plantin often referred in his letters to the ‘juste prix’ of books intended for the retail shops. Consequently, besides this price, whether ‘juste’ or not, there must have been another - that charged to private customers. In fact it is clear that these were often charged more, the difference being proportionate to the price of the book: a few stuivers or even a fraction of a stuiver for the cheaper editions,1. up to 10 fl. for something monumental like the Polyglot Bible.2. But it could equally happen that the private customer who came to the Plantinian shop or had a book sent to him had no more to pay than the bookseller. The records give the impression that a newly issued book cost the private customer a little extra but that
after a time, when the large initial demand had died down, the price dropped to the ‘juste’ one asked of the booksellers. There is every indication that the whole matter was decided rather arbitrarily.1.
Private customers or institutions of some importance may today enjoy some measure of price reduction. Something of the sort was quite common in the time of Plantin and the Moretuses. Sometimes the price the private customer actually paid was lower than that originally quoted. This would have been an accommodation on the part of the masters of the Golden Compasses.
Besides the ‘juste prix’ for the bookseller and the small reductions for certain private customers there was another possibility, indicated in the accounts as the rabat (discount). Most booksellers who did regular business with the Officina Plantiniana bought on credit, and the masters of the Golden Compasses similarly asked for terms when
making large purchases of books and paper. These terms could be on the basis of six months, one year, or even longer.1. At Frankfurt accounts were settled - if not paid in cash - at the following fair. In practice, except at Frankfurt, the terms of deferred payments were not always rigidly adhered to: the arrival of a bookseller in Antwerp, the fortuitous meeting of Plantin or Jan Moretus with a business associate at Cologne, Paris, or elsewhere was often the occasion for the settling of accounts that might have run for years. In such instances there is hardly ever any mention in the account-books of discount: this type of reduction was only made when the dealers paid cash on delivery. For small orders paid in cash Plantin allowed a discount of 5 to 10 %.2. For more important transactions it might be much greater.3. In the seventeenth century a fairly uniform rate was arrived at: 20 % for the ‘black-and-red’ service books, 25 % for ordinary editions.4.
Foreign merchants sometimes tried to get a discount for orders not paid for in cash, but Plantin declined such requests as far as he could.5.
He was not able to refuse in all circumstances: foreign dealers might merit this favour because they controlled a certain sector or could stimulate sales there;1. could exert pressure;2. conducted an important barter trade with the Plantin House (it was reciprocal in these cases, as Plantin received a discount on his purchases in turn);3. or had eased money transactions at some time.4. Usually this meant a lot of bargaining and letter-writing and sometimes the signing of a contract. Favoured customers of this kind were, for example, the Frenchmen J. Dupuis of Lyons,5. J. Desserans,6. and Ascanius de Renialme7. who operated in London; also A. Birckman of Cologne8. and Michel
Sonnius of Paris,1. and of course Philip ii when operating as a part-time bookseller.2. Merchants who occasionally exported books abroad were also able to obtain a discount.3. There is only one explicit reference in the correspondence to discount allowed on credit purchases to Netherlands dealers; it concerns an Antwerp bookseller.4. But this was probably not an exceptional case: the principal Antwerp and Netherlands booksellers with whom Plantin did regular business would certainly have been able to obtain a discount on credit accounts, at least in special circumstances.5.
The profit made from all these transactions had to be expressed in money terms. In the sixteenth century in the Netherlands the unit mostly used for reckoning sums of money was the Flemish pound. It appears as a money of account in the Plantinian ledgers, but consistently only in the years 1563-67, at the special request of Cornelis van Bomberghen who supervised the book-keeping. After that it was only very occasionally used.1. Besides the Flemish pound the Brabant pound was in use in the Duchy of Brabant, but there is no certain instance of its use in the firm's accounts. As far as Plantin was concerned, the unit of monnoye de Brabant was equal to the (Carolus) guilder (florin) of 20 stuivers (or patars).2. Plantin used it throughout the whole of his printing career, and his successors remained faithful to it.
The neighbouring countries also had their own monies of account which occasionally appeared in the journals, ledgers, and accounts of the firm in connexion with deliveries to or from dealers resident there. Notable were the German guilder (in which all Frankfurt transactions were reckoned and recorded in the carnets de Francfort)3. and the French livre tournois.4.
Reckoning with these monies of account was simple enough. Difficulties arose when it came to actual payments. The monies of account had originally been actual coins in circulation (just as the
British guinea once was) which for one reason or another had been adopted in their new role. The Carolus guilder, which Plantin regarded as pre-eminently the Brabant coin, e.g. was introduced into the Netherlands by Charles v as a gold piece in 1517 and as a silver coin in 1543. After a time they generally disappeared as an actual coin,1. and even when further issues were struck, they were just one of many types of coin then in circulation. The problem was to fix the correct rate of exchange of all these coins in relation to money of account. In September 1566 Jan Moretus brought back from Frankfurt a sum of money recorded as 395 fl. 19 st. It consisted of 93½ Philippes dalders (163 fl. 12½ st.), 19 escus soleil (39 fl. 18 st.), 9 pistolets (18 fl.), 3 crusats de Portugal (6 fl. 9 st.), 1 gold florin (1 fl. 13 st.), 73½ silver thalers (106 fl. 11½ st.), 3 silver Frankfurt florins (3 fl. 18 st.), [?] pièce de 3 basses et 2 des 2½ basses (23 fl. 8 st.), and various pièces données de Gymnicus (32 fl. 9 st.),2. In 1589 when his father-in-law died Jan Moretus closed the cash register and noted 600 Felipes dallers (1,500 fl.), 225¼ ten-patar pieces (450 fl. 10 st.), 315 realles and five-patar pieces (315 fl.), 45 three-florin pieces (135 fl.), 4 demi realles dor (10 fl.), ‘various small coins’ (36 fl. 16 st.), making a total of 2,477 fl. 6 st.3. These were by no means exceptional cases.4. Even unminted precious metal was once mentioned.5. This vast number of denominations in
circulation not only made calculation complicated1. but also gave rise to many errors - deliberate or otherwise.2.
The coins had an intrinsic value through the weight of silver or gold they contained or were supposed to contain. Complaints and disputes about coins ‘devaluated’ by too little weight frequently occur in the correspondence3. and the accounts.4. Counterfeit money was also mentioned occasionally.5.
The political troubles and the inflationary trends that characterized the sixteenth century brought great fluctuation in the comparative values of the coins in circulation and between these and the monies of account, the variations being observable both in time and space.
A shrewd dealer, Plantin always tried to obtain the most favourable rates of exchange, although sometimes without success. In 1574 he sent gold Philippe thalers to Louvain in the belief that they would fetch a higher price there than in Antwerp, but his correspondent had to disappoint him.1. Often he had to take substantial losses on this account.2. Fluctuations in value were sometimes provided for in contracts concluded with others in the book trade. In an agreement with Desserans in London it was stipulated that both parties must be ready to accept any losses or gains that arose out of subsequent changes in the rates of exchange.3.
Payment naturally implied the transference of cash. This was simple enough in the bookshop and there were no special difficulties for transactions within Antwerp itself. Problems only arose when long distances separated the parties concerned or, as at Frankfurt, money changed hands far from home. Payment then was a matter of transporting the money. This could be done in all the ways used for the transport of goods: by post4. and messenger, by carrier, by inland waterway or by sea. Money could be sent separately5. or with other freight.6. The money could be given to agents or employees of the receiving party,7. entrusted to reliable travellers,8. or the persons involved could convey it themselves.9.
Carrying money always entailed great risks. To avoid these, to get round any obstacles that the authorities might have placed in the way of the export of currency, and to facilitate financial dealings in general, merchants in the sixteenth and following centuries made use of that most handy device, the bill of exchange. In the Plantinian records it is usually referred to as a lettre de change, sometimes as a lettre de crédit.1. A payer holding credit or money at a particular place would give instructions for the required amount to be placed at the disposal of the payee. The payee might choose to take not the cash but the authorizing note and use the amount that this represented in his own transactions. In the sixteenth century the bill of exchange became a much used means of transferring large sums of money, or rather credit, over long distances with relative ease. The repeated references to bills of exchange in the correspondence and the accounts show that Plantin and his successors made grateful use of it.2. Sometimes ious or bonds (obligations or cedulles in Plantinian sources) served as bills of exchange, being disposed of to, or paid by, third parties.3.
The system presupposed a large measure of mutual trust - and good will and solvency on the part of the intermediaries. Sometimes these attributes were lacking. In 1569 Plantin was obliged to take one such agent, acting for G. de Portinariis, a bookseller in Lyons and Salamanca, to court because of his failure to pay amounts due.1. In 1586 the printer was greatly angered because B. Dupuis of London had refused to accept his bill of exchange, thus casting doubt on his credit-worthiness.2. Generally, however, there is little evidence of incidents of this kind.3.
The intensive use which the masters of the Golden Compasses made of this efficient device meant a good deal of effort on their part to calculate the most favourable rates of exchange and to have their money in the right place. But far more trouble was caused the firm through the years by customers who did not pay their bills. This
was particularly prevalent among the smaller booksellers, but private customers too were often neglectful.1.
The masters of the Plantin House had a fairly effective method of limiting their losses on this account: normally they only made a new delivery when the previous one had been paid for, at least in part.2. But if customers did not wish to place further orders then it might be a long time before outstanding accounts were settled, if at all. When a new ledger was started the unpaid accounts from the previous one were carried over and summarized on the first pages. A debtor was rapporté débiteur until he either settled his account or was finally written off as a bad debt.3.
Naturally the masters of the firm tried to keep these bad debts to a minimum. On their many journeys through Western Europe, Plantin and his representative, Jan Moretus, regularly called on tardy settlers.4. At the beginning of the seventeenth century Jan Moretus
sent out an agent specially for a systematic visitation of all of them in a particular area.1. Most of those visited had a more or less valid reason for their default, or at least tried to think of one. Successors or inheritors often refused to accept their predecessors' debts. A dramatic case was that of Herman Schinkel, a Delft bookseller whose widow would not pay because he had been executed during the Duke of Alva's rule. Eventually part of this debt was paid off.2. Other debtors obstinately asserted that they had already paid.3.
These attempts to retrieve debts through personal contact were only partly successful and the list of those whose names ended up in the bad debt column was quite long. The amounts per person were not usually very large, but the sheer number involved made the loss considerable. Less numerous, but larger per head, were the losses incurred through bankruptcies of bigger booksellers, and especially of the merchants who occasionally dealt in books.4. The wills and inventories5. made by the Masters of the Plantin house clearly show
that they were not unmindful of the burden constituted by the fact that a fair proportion of the books they delivered were never paid for.