1.
Republican Party (United States)
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The Republican Party, commonly referred to as the GOP, is one of the two major contemporary political parties in the United States, the other being its historic rival, the Democratic Party. The party is named after republicanism, the dominant value during the American Revolution and it was founded by anti-slavery activists, modernists, ex-Whigs, and ex-Free Soilers in 1854. The Republicans dominated politics nationally and in the majority of northern States for most of the period between 1860 and 1932, there have been 19 Republican presidents, the most from any one party. The Republican Partys current ideology is American conservatism, which contrasts with the Democrats more progressive platform, further, its platform involves support for free market capitalism, free enterprise, fiscal conservatism, a strong national defense, deregulation, and restrictions on labor unions. In addition to advocating for economic policies, the Republican Party is socially conservative. As of 2017, the GOP is documented as being at its strongest position politically since 1928, in addition to holding the Presidency, the Republicans control the 115th United States Congress, having majorities in both the House of Representatives and the Senate. The party also holds a majority of governorships and state legislatures, the main cause was opposition to the Kansas–Nebraska Act, which repealed the Missouri Compromise by which slavery was kept out of Kansas. The Northern Republicans saw the expansion of slavery as a great evil, the first public meeting of the general anti-Nebraska movement where the name Republican was suggested for a new anti-slavery party was held on March 20,1854, in a schoolhouse in Ripon, Wisconsin. The name was chosen to pay homage to Thomas Jeffersons Republican Party. The first official party convention was held on July 6,1854, in Jackson and it oversaw the preserving of the union, the end of slavery, and the provision of equal rights to all men in the American Civil War and Reconstruction, 1861–1877. The Republicans initial base was in the Northeast and the upper Midwest, with the realignment of parties and voters in the Third Party System, the strong run of John C. Fremont in the 1856 United States presidential election demonstrated it dominated most northern states, early Republican ideology was reflected in the 1856 slogan free labor, free land, free men, which had been coined by Salmon P. Chase, a Senator from Ohio. Free labor referred to the Republican opposition to labor and belief in independent artisans. Free land referred to Republican opposition to the system whereby slaveowners could buy up all the good farm land. The Party strove to contain the expansion of slavery, which would cause the collapse of the slave power, Lincoln, representing the fast-growing western states, won the Republican nomination in 1860 and subsequently won the presidency. The party took on the mission of preserving the Union, and destroying slavery during the American Civil War, in the election of 1864, it united with War Democrats to nominate Lincoln on the National Union Party ticket. The partys success created factionalism within the party in the 1870s and those who felt that Reconstruction had been accomplished and was continued mostly to promote the large-scale corruption tolerated by President Ulysses S. Grant ran Horace Greeley for the presidency. The Stalwarts defended Grant and the system, the Half-Breeds led by Chester A. Arthur pushed for reform of the civil service in 1883
2.
New York (state)
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New York is a state in the northeastern United States, and is the 27th-most extensive, fourth-most populous, and seventh-most densely populated U. S. state. New York is bordered by New Jersey and Pennsylvania to the south and Connecticut, Massachusetts, and Vermont to the east. With an estimated population of 8.55 million in 2015, New York City is the most populous city in the United States, the New York Metropolitan Area is one of the most populous urban agglomerations in the world. New York City makes up over 40% of the population of New York State, two-thirds of the states population lives in the New York City Metropolitan Area, and nearly 40% lives on Long Island. Both the state and New York City were named for the 17th-century Duke of York, the next four most populous cities in the state are Buffalo, Rochester, Yonkers, and Syracuse, while the state capital is Albany. New York has a diverse geography and these more mountainous regions are bisected by two major river valleys—the north-south Hudson River Valley and the east-west Mohawk River Valley, which forms the core of the Erie Canal. Western New York is considered part of the Great Lakes Region and straddles Lake Ontario, between the two lakes lies Niagara Falls. The central part of the state is dominated by the Finger Lakes, New York had been inhabited by tribes of Algonquian and Iroquoian-speaking Native Americans for several hundred years by the time the earliest Europeans came to New York. The first Europeans to arrive were French colonists and Jesuit missionaries who arrived southward from settlements at Montreal for trade, the British annexed the colony from the Dutch in 1664. The borders of the British colony, the Province of New York, were similar to those of the present-day state, New York is home to the Statue of Liberty, a symbol of the United States and its ideals of freedom, democracy, and opportunity. In the 21st century, New York has emerged as a node of creativity and entrepreneurship, social tolerance. On April 17,1524 Verrazanno entered New York Bay, by way of the now called the Narrows into the northern bay which he named Santa Margherita. Verrazzano described it as a vast coastline with a delta in which every kind of ship could pass and he adds. This vast sheet of water swarmed with native boats and he landed on the tip of Manhattan and possibly on the furthest point of Long Island. Verrazannos stay was interrupted by a storm which pushed him north towards Marthas Vineyard, in 1540 French traders from New France built a chateau on Castle Island, within present-day Albany, due to flooding, it was abandoned the next year. In 1614, the Dutch under the command of Hendrick Corstiaensen, rebuilt the French chateau, Fort Nassau was the first Dutch settlement in North America, and was located along the Hudson River, also within present-day Albany. The small fort served as a trading post and warehouse, located on the Hudson River flood plain, the rudimentary fort was washed away by flooding in 1617, and abandoned for good after Fort Orange was built nearby in 1623. Henry Hudsons 1609 voyage marked the beginning of European involvement with the area, sailing for the Dutch East India Company and looking for a passage to Asia, he entered the Upper New York Bay on September 11 of that year
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Theodore Roosevelt
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Theodore Roosevelt Jr. was an American statesman, author, explorer, soldier, naturalist, and reformer who served as the 26th president of the United States from 1901 to 1909. As a leader of the Republican Party during this time, he became a force for the Progressive Era in the United States in the early 20th century. Born a sickly child with debilitating asthma, Roosevelt successfully overcame his health problems by embracing a strenuous lifestyle and he integrated his exuberant personality, vast range of interests, and world-famous achievements into a cowboy persona defined by robust masculinity. Home-schooled, he began a lifelong naturalist avocation before attending Harvard College and his first of many books, The Naval War of 1812, established his reputation as both a learned historian and as a popular writer. Upon entering politics, he became the leader of the faction of Republicans in New Yorks state legislature. Returning a war hero, he was elected governor of New York in 1898, the state party leadership distrusted him, so they took the lead in moving him to the prestigious but powerless role of vice presidential candidate as McKinleys running mate in the election of 1900. Roosevelt campaigned vigorously across the country, helping McKinleys re-election in a victory based on a platform of peace, prosperity. Following the assassination of President McKinley in September 1901, Roosevelt succeeded to the office at age 42, making conservation a top priority, he established a myriad of new national parks, forests, and monuments intended to preserve the nations natural resources. In foreign policy, he focused on Central America, where he began construction of the Panama Canal and he greatly expanded the United States Navy and sent the Great White Fleet on a world tour to project the United States naval power around the globe. His successful efforts to end the Russo-Japanese War won him the 1906 Nobel Peace Prize, elected in 1904 to a full term, Roosevelt continued to promote progressive policies, but many of his efforts and much of his legislative agenda were eventually blocked in Congress. Roosevelt successfully groomed his close friend, William Howard Taft, to succeed him in the presidency, after leaving office, Roosevelt went on safari in Africa and toured Europe. Returning to the United States, he became frustrated with Tafts approach, failing to win the Republican presidential nomination in 1912, Roosevelt founded his own party, the Progressive, so-called Bull Moose Party, and called for wide-ranging progressive reforms. The split among Republicans enabled the Democrats to win both the White House and a majority in the Congress in 1912, Republicans aligned with Taft nationally would control the Republican Party for decades. Frustrated at home, Roosevelt led an expedition to the Amazon basin. During World War I, he opposed President Woodrow Wilson for keeping the country out of the war, and offered his military services, although planning to run again for president in 1920, Roosevelt suffered deteriorating health and died in early 1919. Roosevelt has consistently ranked by scholars as one of the greatest American presidents. Historians admire Roosevelt for rooting out corruption in his administration, but are critical of his 1909 libel lawsuits against the World and his face was carved into Mount Rushmore, alongside those of George Washington, Thomas Jefferson, and Abraham Lincoln. Theodore Roosevelt Jr. was born on October 27,1858, at East 20th Street in New York City and he was the second of four children born to socialite Martha Stewart Mittie Bulloch and glass businessman and philanthropist Theodore Roosevelt Sr
4.
Panic of 1907
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Panic occurred, as this was during a time of economic recession, and there were numerous runs on banks and trust companies. The 1907 panic eventually spread throughout the nation when many state and local banks, primary causes of the run included a retraction of market liquidity by a number of New York City banks and a loss of confidence among depositors, exacerbated by unregulated side bets at bucket shops. The panic was triggered by the attempt in October 1907 to corner the market on stock of the United Copper Company. The collapse of the Knickerbocker spread fear throughout the citys trusts as regional banks withdrew reserves from New York City banks, Panic extended across the nation as vast numbers of people withdrew deposits from their regional banks. This highlighted the impotence of the nations Independent Treasury system, which managed the money supply. By November, the contagion had largely ended, only to be replaced by a further crisis. This was due to the borrowing of a large brokerage firm that used the stock of Tennessee Coal, Iron. Collapse of TC&Is stock price was averted by a takeover by Morgans U. S. Steel Corporation—a move approved by anti-monopolist president Theodore Roosevelt. Each autumn money flowed out of the city as harvests were purchased and—in an effort to attract money back—interest rates were raised, foreign investors then sent their money to New York to take advantage of the higher rates. From the January 1906 Dow Jones Industrial Average high of 103, the April 1906 earthquake that devastated San Francisco contributed to the market instability, prompting an even greater flood of money from New York to San Francisco to aid reconstruction. From their peak in January, stock prices declined 18% by July 1906, by late September, stocks had recovered about half of their losses. The Hepburn Act, which gave the Interstate Commerce Commission the power to set railroad rates. This depreciated the value of railroad securities, between September 1906 and March 1907, the stock market slid, losing 7. 7% of its capitalization. Between March 9 and 26, stocks fell a further 9. 8%, the economy remained volatile through the summer. In the first nine months of 1907, stocks were lower by 24. 4%, on July 27, The Commercial & Financial Chronicle noted that the market keeps unstable. No sooner are these signs of new life in evidence than something like a suggestion of a new outflow of gold to Paris sends a tremble all through the list, and the gain in values and hope is gone. Several bank runs occurred outside the US in 1907, in Egypt in April and May, in Japan in May and June, in Hamburg and Chile in early October. The fall season was always a time for the banking system—combined with the roiled stock market
5.
United Kingdom
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The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom or Britain, is a sovereign country in western Europe. Lying off the north-western coast of the European mainland, the United Kingdom includes the island of Great Britain, Northern Ireland is the only part of the United Kingdom that shares a land border with another sovereign state—the Republic of Ireland. The Irish Sea lies between Great Britain and Ireland, with an area of 242,500 square kilometres, the United Kingdom is the 78th-largest sovereign state in the world and the 11th-largest in Europe. It is also the 21st-most populous country, with an estimated 65.1 million inhabitants, together, this makes it the fourth-most densely populated country in the European Union. The United Kingdom is a monarchy with a parliamentary system of governance. The monarch is Queen Elizabeth II, who has reigned since 6 February 1952, other major urban areas in the United Kingdom include the regions of Birmingham, Leeds, Glasgow, Liverpool and Manchester. The United Kingdom consists of four countries—England, Scotland, Wales, the last three have devolved administrations, each with varying powers, based in their capitals, Edinburgh, Cardiff and Belfast, respectively. The relationships among the countries of the UK have changed over time, Wales was annexed by the Kingdom of England under the Laws in Wales Acts 1535 and 1542. A treaty between England and Scotland resulted in 1707 in a unified Kingdom of Great Britain, which merged in 1801 with the Kingdom of Ireland to form the United Kingdom of Great Britain and Ireland. Five-sixths of Ireland seceded from the UK in 1922, leaving the present formulation of the United Kingdom of Great Britain, there are fourteen British Overseas Territories. These are the remnants of the British Empire which, at its height in the 1920s, British influence can be observed in the language, culture and legal systems of many of its former colonies. The United Kingdom is a country and has the worlds fifth-largest economy by nominal GDP. The UK is considered to have an economy and is categorised as very high in the Human Development Index. It was the worlds first industrialised country and the worlds foremost power during the 19th, the UK remains a great power with considerable economic, cultural, military, scientific and political influence internationally. It is a nuclear weapons state and its military expenditure ranks fourth or fifth in the world. The UK has been a permanent member of the United Nations Security Council since its first session in 1946 and it has been a leading member state of the EU and its predecessor, the European Economic Community, since 1973. However, on 23 June 2016, a referendum on the UKs membership of the EU resulted in a decision to leave. The Acts of Union 1800 united the Kingdom of Great Britain, Scotland, Wales and Northern Ireland have devolved self-government
6.
Gold
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Gold is a chemical element with symbol Au and atomic number 79. In its purest form, it is a bright, slightly yellow, dense, soft, malleable. Chemically, gold is a metal and a group 11 element. It is one of the least reactive chemical elements and is solid under standard conditions, Gold often occurs in free elemental form, as nuggets or grains, in rocks, in veins, and in alluvial deposits. It occurs in a solid solution series with the element silver and also naturally alloyed with copper. Less commonly, it occurs in minerals as gold compounds, often with tellurium, golds atomic number of 79 makes it one of the higher numbered, naturally occurring elements. It is thought to have produced in supernova nucleosynthesis, from the collision of neutron stars. Because the Earth was molten when it was formed, almost all of the present in the early Earth probably sank into the planetary core. Gold is resistant to most acids, though it does dissolve in aqua regia, a mixture of acid and hydrochloric acid. Gold also dissolves in solutions of cyanide, which are used in mining and electroplating. Gold dissolves in mercury, forming amalgam alloys, but this is not a chemical reaction, as a precious metal, gold has been used for coinage, jewelry, and other arts throughout recorded history. A total of 186,700 tonnes of gold is in existence above ground, the world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry. Gold is also used in infrared shielding, colored-glass production, gold leafing, certain gold salts are still used as anti-inflammatories in medicine. As of 2014, the worlds largest gold producer by far was China with 450 tonnes, Gold is cognate with similar words in many Germanic languages, deriving via Proto-Germanic *gulþą from Proto-Indo-European *ǵʰelh₃-. The symbol Au is from the Latin, aurum, the Latin word for gold, the Proto-Indo-European ancestor of aurum was *h₂é-h₂us-o-, meaning glow. This word is derived from the root as *h₂éu̯sōs, the ancestor of the Latin word Aurora. This etymological relationship is presumably behind the frequent claim in scientific publications that aurum meant shining dawn, Gold is the most malleable of all metals, a single gram can be beaten into a sheet of 1 square meter, and an avoirdupois ounce into 300 square feet. Gold leaf can be thin enough to become semi-transparent
7.
Nelson W. Aldrich
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Nelson Wilmarth Aldrich was a prominent American politician and a leader of the Republican Party in the Senate, where he served from 1881 to 1911. By the 1890s he was one of the Big Four key Republicans who largely controlled the decisions of the Senate, along with Orville H. Platt, William B. Allison. In a career spanned three decades, Aldrich helped to create an extensive system of tariffs that protected American factories. He was a party to the re-structuring of the American financial system through the institution of the income tax amendment. His most important contribution was the design of the modern Federal Reserve System, deeply committed to the efficiency model of the Progressive Era, he believed these reforms would lead to greater efficiency. Reformers, however, denounced him as representative of the evils of Big business, Aldrich became wealthy with investments in street railroads, sugar, rubber and banking. He married into the Rockefeller family, and his descendents became powerful figures in American politics, Aldrich was born in Foster, Rhode Island, into a middle-class family descended from noted English immigrants John Winthrop, William Wickenden, and Roger Williams. His branch passed through generations of declining circumstances and his father was Anan E. Aldrich, a mill hand, and mother Abby Burgess. He attended public schools in East Killingly, Conn. and the East Greenwich Academy a boarding school in Rhode Island, Aldrichs first job was clerking for the largest wholesale grocer in the state, where he worked his way up to become a partner in the firm. He served briefly in the Union Army during the American Civil War when he enlisted as a private in Company D of the 10th Rhode Island Infantry on May 26,1862. Aldrichs company served for three months at Fort DeRussy, which was part of the defenses of Washington, D. C, Aldrich was mustered out of service with the regiment on September 1,1862. On October 9,1866, he married Abigail Pearce Truman Abby Chapman and they had a total of eleven children. By 1877, Nelson had an effect on state politics. He served as a member of the Providence City Council from 1869 to 1874 and he served in the Rhode Island House of Representatives in 1875 and 1876 and served as Speaker of the House in 1876. In 1878 the Republican bosses of Rhode Island endorsed him for the US House of Representatives, he won, in 1881 he was elected to the U. S. Senate by the Rhode Island legislature. He served in the Senate for 30 years from 1881 to 1911 and he was the longest serving United States Senator from Rhode Island before the 36-year tenure of Claiborne Pell in the late 20th Century. Aldrichs main power base was his chairmanship of the Senate Finance Committee which oversaw bank regulation, the panic of 1907 led to the passage of the Aldrich–Vreeland Act in 1908, which established the National Monetary Commission, sponsored and headed by Aldrich. After issuing a series of 30 reports, this commission drew up the Aldrich Plan, in 1909, Aldrich introduced a constitutional amendment to establish an income tax, although he had declared a similar measure communistic a decade earlier
8.
World War I
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World War I, also known as the First World War, the Great War, or the War to End All Wars, was a global war originating in Europe that lasted from 28 July 1914 to 11 November 1918. More than 70 million military personnel, including 60 million Europeans, were mobilised in one of the largest wars in history and it was one of the deadliest conflicts in history, and paved the way for major political changes, including revolutions in many of the nations involved. The war drew in all the worlds great powers, assembled in two opposing alliances, the Allies versus the Central Powers of Germany and Austria-Hungary. These alliances were reorganised and expanded as more nations entered the war, Italy, Japan, the trigger for the war was the assassination of Archduke Franz Ferdinand of Austria, heir to the throne of Austria-Hungary, by Yugoslav nationalist Gavrilo Princip in Sarajevo on 28 June 1914. This set off a crisis when Austria-Hungary delivered an ultimatum to the Kingdom of Serbia. Within weeks, the powers were at war and the conflict soon spread around the world. On 25 July Russia began mobilisation and on 28 July, the Austro-Hungarians declared war on Serbia, Germany presented an ultimatum to Russia to demobilise, and when this was refused, declared war on Russia on 1 August. Germany then invaded neutral Belgium and Luxembourg before moving towards France, after the German march on Paris was halted, what became known as the Western Front settled into a battle of attrition, with a trench line that changed little until 1917. On the Eastern Front, the Russian army was successful against the Austro-Hungarians, in November 1914, the Ottoman Empire joined the Central Powers, opening fronts in the Caucasus, Mesopotamia and the Sinai. In 1915, Italy joined the Allies and Bulgaria joined the Central Powers, Romania joined the Allies in 1916, after a stunning German offensive along the Western Front in the spring of 1918, the Allies rallied and drove back the Germans in a series of successful offensives. By the end of the war or soon after, the German Empire, Russian Empire, Austro-Hungarian Empire, national borders were redrawn, with several independent nations restored or created, and Germanys colonies were parceled out among the victors. During the Paris Peace Conference of 1919, the Big Four imposed their terms in a series of treaties, the League of Nations was formed with the aim of preventing any repetition of such a conflict. This effort failed, and economic depression, renewed nationalism, weakened successor states, and feelings of humiliation eventually contributed to World War II. From the time of its start until the approach of World War II, at the time, it was also sometimes called the war to end war or the war to end all wars due to its then-unparalleled scale and devastation. In Canada, Macleans magazine in October 1914 wrote, Some wars name themselves, during the interwar period, the war was most often called the World War and the Great War in English-speaking countries. Will become the first world war in the sense of the word. These began in 1815, with the Holy Alliance between Prussia, Russia, and Austria, when Germany was united in 1871, Prussia became part of the new German nation. Soon after, in October 1873, German Chancellor Otto von Bismarck negotiated the League of the Three Emperors between the monarchs of Austria-Hungary, Russia and Germany
9.
New York Stock Exchange
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The New York Stock Exchange, is an American stock exchange located at 11 Wall Street, Lower Manhattan, New York City, New York. It is by far the worlds largest stock exchange by market capitalization of its companies at US$19.3 trillion as of June 2016. The average daily trading value was approximately US$169 billion in 2013, the NYSE trading floor is located at 11 Wall Street and is composed of 21 rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007, the main building and the 11 Wall Street building were designated National Historic Landmarks in 1978. The NYSE is owned by Intercontinental Exchange, an American holding company that it also lists, previously, it was part of NYSE Euronext, which was formed by the NYSEs 2007 merger with Euronext. NYSE and Euronext now operate as divisions of Intercontinental Exchange, the NYSE has been the subject of several lawsuits regarding fraud or breach of duty and in 2004 was sued by its former CEO for breach of contract and defamation. The earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement, previously securities exchange had been intermediated by the auctioneers who also conducted more mundane auctions of commodities such as wheat and tobacco. In 1817 the stockbrokers of New York operating under the Buttonwood Agreement instituted new reforms, after sending a delegation to Philadelphia to observe the organization of their board of brokers, restrictions on manipulative trading were adopted as well as formal organs of governance. Several locations were used between 1817 and 1865, when the present location was adopted, the invention of the electrical telegraph consolidated markets, and New Yorks market rose to dominance over Philadelphia after weathering some market panics better than other alternatives. The Civil War greatly stimulated speculative securities trading in New York, by 1869 membership had to be capped, and has been sporadically increased since. The latter half of the century saw rapid growth in securities trading. Securities trade in the nineteenth and early twentieth centuries was prone to panics. The Stock Exchange Luncheon Club was situated on the floor from 1898 until its closure in 2006. The main building, located at 18 Broad Street, between the corners of Wall Street and Exchange Place, was designated a National Historic Landmark in 1978, as was the 11 Wall Street building. The NYSE announced its plans to merge with Archipelago on April 21,2005, NYSEs governing board voted to merge with rival Archipelago on December 6,2005, and became a for-profit, public company. It began trading under the name NYSE Group on March 8,2006, Wall Street is the leading US money center for international financial activities and the foremost US location for the conduct of wholesale financial services. It comprises a matrix of wholesale financial sectors, financial markets, financial institutions, the principal sectors are securities industry, commercial banking, asset management, and insurance. Prior to the acquisition of NYSE Euronext by the ICE in 2013, Marsh Carter was the Chairman of the NYSE, presently, the chairman is Jeffrey Sprecher
10.
William Gibbs McAdoo
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William Gibbs McAdoo, Jr. /ˈmækəˌduː/ was an American lawyer and statesman. A political progressive, McAdoo was a leader of the Progressive movement who played a role in the administration of President Woodrow Wilson. He was Wilsons campaign manager in 1912, he married Wilsons daughter and he was primarily responsible for financing the American side of World War I, providing large loans to the Allies, and running the railroad system inside the United States. He was a contender for his partys presidential nomination in 1920 and 1924. McAdoo was born during the middle of the Civil War in Marietta, Georgia and his uncle, John David McAdoo, was a Confederate general and a justice on the Texas Supreme Court. McAdoo attended rural schools until his family moved to Knoxville, Tennessee, in 1877 and he graduated from the University of Tennessee and was a member of the Lambda Chapter of Kappa Sigma Fraternity. He was appointed deputy clerk of the United States District Court for the Eastern District of Tennessee in 1882 and he married his first wife, Sarah Hazelhurst Fleming, on November 18,1885. They had seven children, Harriet Floyd McAdoo, Francis Huger McAdoo, Julia Hazelhurst McAdoo, Nona Hazelhurst McAdoo, William Gibbs MacAdoo III, Robert Hazelhurst McAdoo and he was admitted to the bar in Tennessee in 1885 and set up a practice in Chattanooga, Tennessee. In the early 1890s, he lost most of his trying to electrify the Knoxville Street Railroad system. In 1892 he moved to New York City, where he met Francis R. Pemberton, son of the Confederate General John C and they formed a firm, Pemberton and McAdoo, to sell investment securities. In 1895, McAdoo returned to Knoxville and regained control of part of his streetcar company. In subsequent months, he engaged in a struggle with Ohio businessman C. C. Howell over control of the streetcar system. Litigation in the aftermath of this incident favored Howell, and McAdoo abandoned his streetcar endeavors in 1897, around 1900, McAdoo took on the leadership of a project to build a railway tunnel under the Hudson River to connect Manhattan with New Jersey. A tunnel had been constructed during the 1880s by Dewitt Clinton Haskin. With McAdoo as president of the Hudson and Manhattan Railroad Company, the popular McAdoo told the press that his motto was Let the Public be Pleased. The tunnels are now operated as part of the Port Authority Trans-Hudson system and his first wife died in February 1912. That year, he served as chairman of the Democratic National Committee. Woodrow Wilson lured McAdoo away from business after their meeting in 1910, once he was President, Wilson appointed McAdoo secretary of the Treasury, a post McAdoo held from 1913 to 1918
11.
New York City
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The City of New York, often called New York City or simply New York, is the most populous city in the United States. With an estimated 2015 population of 8,550,405 distributed over an area of about 302.6 square miles. Located at the tip of the state of New York. Home to the headquarters of the United Nations, New York is an important center for international diplomacy and has described as the cultural and financial capital of the world. Situated on one of the worlds largest natural harbors, New York City consists of five boroughs, the five boroughs – Brooklyn, Queens, Manhattan, The Bronx, and Staten Island – were consolidated into a single city in 1898. In 2013, the MSA produced a gross metropolitan product of nearly US$1.39 trillion, in 2012, the CSA generated a GMP of over US$1.55 trillion. NYCs MSA and CSA GDP are higher than all but 11 and 12 countries, New York City traces its origin to its 1624 founding in Lower Manhattan as a trading post by colonists of the Dutch Republic and was named New Amsterdam in 1626. The city and its surroundings came under English control in 1664 and were renamed New York after King Charles II of England granted the lands to his brother, New York served as the capital of the United States from 1785 until 1790. It has been the countrys largest city since 1790, the Statue of Liberty greeted millions of immigrants as they came to the Americas by ship in the late 19th and early 20th centuries and is a symbol of the United States and its democracy. In the 21st century, New York has emerged as a node of creativity and entrepreneurship, social tolerance. Several sources have ranked New York the most photographed city in the world, the names of many of the citys bridges, tapered skyscrapers, and parks are known around the world. Manhattans real estate market is among the most expensive in the world, Manhattans Chinatown incorporates the highest concentration of Chinese people in the Western Hemisphere, with multiple signature Chinatowns developing across the city. Providing continuous 24/7 service, the New York City Subway is one of the most extensive metro systems worldwide, with 472 stations in operation. Over 120 colleges and universities are located in New York City, including Columbia University, New York University, and Rockefeller University, during the Wisconsinan glaciation, the New York City region was situated at the edge of a large ice sheet over 1,000 feet in depth. The ice sheet scraped away large amounts of soil, leaving the bedrock that serves as the foundation for much of New York City today. Later on, movement of the ice sheet would contribute to the separation of what are now Long Island and Staten Island. The first documented visit by a European was in 1524 by Giovanni da Verrazzano, a Florentine explorer in the service of the French crown and he claimed the area for France and named it Nouvelle Angoulême. Heavy ice kept him from further exploration, and he returned to Spain in August and he proceeded to sail up what the Dutch would name the North River, named first by Hudson as the Mauritius after Maurice, Prince of Orange
12.
Banknote
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A banknote is a type of negotiable instrument known as a promissory note, made by a bank, payable to the bearer on demand. Banknotes were originally issued by banks, who were legally required to redeem the notes for legal tender when presented to the chief cashier of the originating bank. These commercial banknotes only traded at face value in the served by the issuing bank. Commercial banknotes have primarily been replaced by national banknotes issued by central banks, national banknotes are generally legal tender, meaning that medium of payment is allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Historically, banks sought to ensure that they could always pay customers in coins when they presented banknotes for payment and this practice of backing notes with something of substance is the basis for the history of central banks backing their currencies in gold or silver. Today, most national currencies have no backing in precious metals or commodities and have value only by fiat, with the exception of non-circulating high-value or precious metal issues, coins are used for lower valued monetary units, while banknotes are used for higher values. The idea of using a durable light-weight substance as evidence of a promise to pay a bearer on demand originated in China during the Han Dynasty in 118 BC, the first known banknote was first developed in China during the Tang and Song dynasties, starting in the 7th century. Its roots were in merchant receipts of deposit during the Tang Dynasty, as merchants, during the Yuan Dynasty, banknotes were adopted by the Mongol Empire. In Europe, the concept of banknotes was first introduced during the 13th century by such as Marco Polo. Counterfeiting, the forgery of banknotes, is an inherent challenge in issuing currency and it is countered by anticounterfeiting measures in the printing of banknotes. Fighting the counterfeiting of banknotes and cheques has been a driver of security printing methods development in recent centuries. Paper currency first developed in the Tang Dynasty China during the 7th century, although true paper money did not appear until the 11th century, the usage of paper currency later spread throughout the Mongol Empire. European explorers like Marco Polo introduced the concept in Europe during the 13th century, napoleon issued paper banknotes in the early 1800s. Paper money originated in two forms, drafts, which are receipts for value held on account, and bills, the perception of banknotes as money has evolved over time. Originally, money was based on precious metals, Banknotes were seen as essentially an I. O. U. or promissory note, a promise to pay someone in precious metal on presentation. With the gradual removal of precious metals from the system, banknotes evolved to represent credit money. Notes or bills were referred to in 18th century novels and were often a key part of the plot such as a note drawn by Lord X for £100 which becomes due in 3 months time. Its roots were in merchant receipts of deposit during the Tang Dynasty, as merchants, before the use of paper, the Chinese used coins that were circular, with a rectangular hole in the middle
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