The pound sterling known as the pound and less referred to as sterling, is the official currency of the United Kingdom, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, Tristan da Cunha. It is subdivided into 100 pence. A number of nations that do not use sterling have currencies called the pound. Sterling is the third most-traded currency in the foreign exchange market, after the United States dollar, the euro. Together with those two currencies and the Chinese yuan, it forms the basket of currencies which calculate the value of IMF special drawing rights. Sterling is the third most-held reserve currency in global reserves; the British Crown dependencies of Guernsey and the Isle of Man produce their own local issues of sterling which are considered equivalent to UK sterling in their respective regions. The pound sterling is used in Gibraltar, the Falkland Islands, Saint Helena and Ascension Island in Saint Helena and Tristan da Cunha; the Bank of England is the central bank for the pound sterling, issuing its own coins and banknotes, regulating issuance of banknotes by private banks in Scotland and Northern Ireland.
Banknotes issued by other jurisdictions are not regulated by the Bank of England. The full official name pound sterling, is used in formal contexts and when it is necessary to distinguish the United Kingdom currency from other currencies with the same name. Otherwise the term pound is used; the currency name is sometimes abbreviated to just sterling in the wholesale financial markets, but not when referring to specific amounts. The abbreviations "ster." and "stg." are sometimes used. The term "British pound" is sometimes incorrectly used in less formal contexts, it is not an official name of the currency; the exchange rate of the pound sterling against the US dollar is referred to as "cable" in the wholesale foreign exchange markets. The origins of this term are attributed to the fact that in the 1800s, the GBP/USD exchange rate was transmitted via transatlantic cable. Forex traders of GBP/USD are sometimes referred to as "cable dealers". GBP/USD is now the only currency pair with its own name in the foreign exchange markets, after IEP/USD, known as "wire" in the forward FX markets, no longer exists after the Irish Pound was replaced by the euro in 1999.
There is apparent convergence of opinion regarding the origin of the term "pound sterling", toward its derivation from the name of a small Norman silver coin, away from its association with Easterlings or other etymologies. Hence, the Oxford English Dictionary state that the "most plausible" etymology is derivation from the Old English steorra for "star" with the added diminutive suffix "-ling", to mean "little star" and to refer to a silver penny of the English Normans; as another established source notes, the compound expression was derived: However, the perceived narrow window of the issuance of this coin, the fact that coin designs changed in the period in question, led Philip Grierson to reject this in favour of a more complex theory. Another argument that the Hanseatic League was the origin for both the origin of its definition and manufacture, in its name is that the German name for the Baltic is "Ost See", or "East Sea", from this the Baltic merchants were called "Osterlings", or "Easterlings".
In 1260, Henry III granted them a charter of protection and land for their Kontor, the Steelyard of London, which by the 1340s was called "Easterlings Hall", or Esterlingeshalle. Because the League's money was not debased like that of England, English traders stipulated to be paid in pounds of the "Easterlings", contracted to "'sterling". For further discussion of the etymology of "sterling", see sterling silver; the currency sign for the pound is £, written with a single cross-bar, though a version with a double cross-bar is sometimes seen. This symbol derives from medieval Latin documents; the ISO 4217 currency code is GBP, formed from "GB", the ISO 3166-1 alpha-2 code for the United Kingdom, the first letter of "pound". It does not stand for "Great Britain Pound" or "Great British Pound"; the abbreviation "UKP" is used but this is non-standard because the ISO 3166 country code for the United Kingdom is GB. The Crown dependencies use their own codes: GGP, JEP and IMP. Stocks are traded in pence, so traders may refer to pence sterling, GBX, when listing stock prices.
A common slang term for the pound sterling or pound is quid, singular and plural, except in the common phrase "quids in!". The term may have come via Italian immigrants from "scudo", the name for a number of coins used in Italy until the 19th century.
New South Wales
New South Wales is a state on the east coast of Australia. It borders Queensland to the north, Victoria to the south, South Australia to the west, its coast borders the Tasman Sea to the east. The Australian Capital Territory is an enclave within the state. New South Wales' state capital is Sydney, Australia's most populous city. In September 2018, the population of New South Wales was over 8 million, making it Australia's most populous state. Just under two-thirds of the state's population, 5.1 million, live in the Greater Sydney area. Inhabitants of New South Wales are referred to as New South Welshmen; the Colony of New South Wales was founded as a penal colony in 1788. It comprised more than half of the Australian mainland with its western boundary set at 129th meridian east in 1825; the colony included the island territories of New Zealand, Van Diemen's Land, Lord Howe Island, Norfolk Island. During the 19th century, most of the colony's area was detached to form separate British colonies that became New Zealand and the various states and territories of Australia.
However, the Swan River Colony has never been administered as part of New South Wales. Lord Howe Island remains part of New South Wales, while Norfolk Island has become a federal territory, as have the areas now known as the Australian Capital Territory and the Jervis Bay Territory; the prior inhabitants of New South Wales were the Aboriginal tribes who arrived in Australia about 40,000 to 60,000 years ago. Before European settlement there were an estimated 250,000 Aboriginal people in the region; the Wodi Wodi people are the original custodians of the Illawarra region of South Sydney. Speaking a variant of the Dharawal language, the Wodi Wodi people lived across a large stretch of land, surrounded by what is now known as Campbelltown, Shoalhaven River and Moss Vale; the Bundjalung people are the original custodians of parts of the northern coastal areas. The European discovery of New South Wales was made by Captain James Cook during his 1770 survey along the unmapped eastern coast of the Dutch-named continent of New Holland, now Australia.
In his original journal covering the survey, in triplicate to satisfy Admiralty Orders, Cook first named the land "New Wales", named after Wales. However, in the copy held by the Admiralty, he "revised the wording" to "New South Wales"; the first British settlement was made by. After years of chaos and anarchy after the overthrow of Governor William Bligh, a new governor, Lieutenant-Colonel Lachlan Macquarie, was sent from Britain to reform the settlement in 1809. During his time as governor, Macquarie commissioned the construction of roads, wharves and public buildings, sent explorers out from Sydney and employed a planner to design the street layout of Sydney. Macquarie's legacy is still evident today. During the 19th century, large areas were successively separated to form the British colonies of Tasmania, South Australia and Queensland. Responsible government was granted to the New South Wales colony in 1855. Following the Treaty of Waitangi, William Hobson declared British sovereignty over New Zealand in 1840.
In 1841 it was separated from the Colony of New South Wales to form the new Colony of New Zealand. Charles Darwin visited Australia in January 1836 and in The Voyage of the Beagle records his hesitations about and fascination with New South Wales, including his speculations about the geological origin and formation of the great valleys, the aboriginal population, the situation of the convicts, the future prospects of the country. At the end of the 19th century, the movement toward federation between the Australian colonies gathered momentum. Conventions and forums involving colony leaders were held on a regular basis. Proponents of New South Wales as a free trade state were in dispute with the other leading colony Victoria, which had a protectionist economy. At this time customs posts were common on borders on the Murray River. Travelling from New South Wales to Victoria in those days was difficult. Supporters of federation included the New South Wales premier Sir Henry Parkes whose 1889 Tenterfield Speech was pivotal in gathering support for New South Wales involvement.
Edmund Barton to become Australia's first Prime Minister, was another strong advocate for federation and a meeting held in Corowa in 1893 drafted an initial constitution. In 1898 popular referenda on the proposed federation were held in New South Wales, South Australia and Tasmania. All votes resulted in a majority in favour, but the New South Wales government under Premier George Reid had set a requirement for a higher "yes" vote than just a simple majority, not met. In 1899 further referenda were held in the same states as well as Queensland. All resulted in yes votes with majorities increased from the previous year. New South Wales met the conditions; as a compromise to the question on where the capital was to be located, an agreement was made that the site was to be within New South Wales but not closer than 100 miles from Sydney, while the provisional capital would be Melbourne. The area that now forms the Australian Capital Territory was ceded by New South Wales when Canberra was selected.
In the years after World War I, the high prices enjoyed durin
Melbourne is the capital and most populous city of the Australian state of Victoria, the second most populous city in Australia and Oceania. Its name refers to an urban agglomeration of 9,992.5 km2, comprising a metropolitan area with 31 municipalities, is the common name for its city centre. The city occupies much of the coastline of Port Phillip bay and spreads into the hinterlands towards the Dandenong and Macedon ranges, Mornington Peninsula and Yarra Valley, it has a population of 4.9 million, its inhabitants are referred to as "Melburnians". The city was founded on 30 August 1835, in the then-British colony of New South Wales, by free settlers from the colony of Van Diemen’s Land, it was incorporated as a Crown settlement in 1837 and named in honour of the British Prime Minister, William Lamb, 2nd Viscount Melbourne. In 1851, four years after Queen Victoria declared it a city, Melbourne became the capital of the new colony of Victoria. In the wake of the 1850s Victorian gold rush, the city entered a lengthy boom period that, by the late 1880s, had transformed it into one of the world's largest and wealthiest metropolises.
After the federation of Australia in 1901, it served as interim seat of government of the new nation until Canberra became the permanent capital in 1927. Today, it is a leading financial centre in the Asia-Pacific region and ranks 15th in the Global Financial Centres Index; the city is home to many of the best-known cultural institutions in the nation, such as the Melbourne Cricket Ground, the National Gallery of Victoria and the World Heritage-listed Royal Exhibition Building. It is the birthplace of Australian impressionism, Australian rules football, the Australian film and television industries and Australian contemporary dance. More it has been recognised as a UNESCO City of Literature and a global centre for street art, live music and theatre, it is the host city of annual international events such as the Australian Grand Prix, the Australian Open and the Melbourne Cup, has hosted the 1956 Summer Olympics and the 2006 Commonwealth Games. Due to it rating in entertainment and sport, as well as education, health care and development, the EIU ranks it the second most liveable city in the world.
The main airport serving the city is Melbourne Airport, the second busiest in Australia, Australia's busiest seaport the Port of Melbourne. Its main metropolitan rail terminus is Flinders Street station and its main regional rail and road coach terminus is Southern Cross station, it has the most extensive freeway network in Australia and the largest urban tram network in the world. Indigenous Australians have lived in the Melbourne area for an estimated 31,000 to 40,000 years; when European settlers arrived in the 19th-century, under 2,000 hunter-gatherers from three regional tribes—the Wurundjeri and Wathaurong—inhabited the area. It was an important meeting place for the clans of the Kulin nation alliance and a vital source of food and water; the first British settlement in Victoria part of the penal colony of New South Wales, was established by Colonel David Collins in October 1803, at Sullivan Bay, near present-day Sorrento. The following year, due to a perceived lack of resources, these settlers relocated to Van Diemen's Land and founded the city of Hobart.
It would be 30 years. In May and June 1835, John Batman, a leading member of the Port Phillip Association in Van Diemen's Land, explored the Melbourne area, claimed to have negotiated a purchase of 600,000 acres with eight Wurundjeri elders. Batman selected a site on the northern bank of the Yarra River, declaring that "this will be the place for a village" before returning to Van Diemen's Land. In August 1835, another group of Vandemonian settlers arrived in the area and established a settlement at the site of the current Melbourne Immigration Museum. Batman and his group arrived the following month and the two groups agreed to share the settlement known by the native name of Dootigala. Batman's Treaty with the Aborigines was annulled by Richard Bourke, the Governor of New South Wales, with compensation paid to members of the association. In 1836, Bourke declared the city the administrative capital of the Port Phillip District of New South Wales, commissioned the first plan for its urban layout, the Hoddle Grid, in 1837.
Known as Batmania, the settlement was named Melbourne in 1837 after the British Prime Minister, William Lamb, 2nd Viscount Melbourne, whose seat was Melbourne Hall in the market town of Melbourne, Derbyshire. That year, the settlement's general post office opened with that name. Between 1836 and 1842, Victorian Aboriginal groups were dispossessed of their land by European settlers. By January 1844, there were said to be 675 Aborigines resident in squalid camps in Melbourne; the British Colonial Office appointed five Aboriginal Protectors for the Aborigines of Victoria, in 1839, however their work was nullified by a land policy that favoured squatters who took possession of Aboriginal lands. By 1845, fewer than 240 wealthy Europeans held all the pastoral licences issued in Victoria and became a powerful political and economic force in Victoria for generations to come. Letters patent of Queen Victoria, issued on 25 June 1847, declared Melbourne a city. On 1 July 1851, the Port Phillip District separated from New South Wales to become the Colony of Victoria, with Melbourne as its capital.
The discovery of gold in Victoria in mid-1851 sparked a
Latin America is a group of countries and dependencies in the Western Hemisphere where Romance languages such as Spanish and French are predominantly spoken. The term "Latin America" was first used in an 1856 conference with the title "Initiative of the America. Idea for a Federal Congress of the Republics", by the Chilean politician Francisco Bilbao; the term was used by Napoleon III's French government in the 1860s as Amérique latine to consider French-speaking territories in the Americas, along with the larger group of countries where Spanish and Portuguese languages prevailed, including the Spanish-speaking portions of the United States Today, areas of Canada and the United States where Spanish and French are predominant are not included in definitions of Latin America. Latin America consists of 13 dependencies and 20 countries which cover an area that stretches from the northern border of Mexico to the southern tip of South America, including the Caribbean, it has an area of 19,197,000 km2 13% of the Earth's land surface area.
As of 2016, its population was estimated at more than 639 million and in 2014, Latin America had a combined nominal GDP of US$5,573,397 million and a GDP PPP of 7,531,585 million USD. The idea that a part of the Americas has a linguistic affinity with the Romance cultures as a whole can be traced back to the 1830s, in the writing of the French Saint-Simonian Michel Chevalier, who postulated that this part of the Americas was inhabited by people of a "Latin race", that it could, ally itself with "Latin Europe" overlapping the Latin Church, in a struggle with "Teutonic Europe", "Anglo-Saxon America" and "Slavic Europe". Further investigations of the concept of Latin America are by Michel Gobat in the American Historical Review, the studies of Leslie Bethell, the monograph by Mauricio Tenorio-Trillo, Latin America: The Allure and Power of an Idea. Historian John Leddy Phelan (located the origins of “Latin America” in the French occupation of Mexico, his argument is that French imperialists used the concept of "Latin" America as a way to counter British imperialism, as well as to challenge the German threat to France.
The idea of a "Latin race" was taken up by Latin American intellectuals and political leaders of the mid- and late-nineteenth century, who no longer looked to Spain or Portugal as cultural models, but rather to France. French ruler Napoleon III had a strong interest in extending French commercial and political power in the region he and his business promoter Felix Belly called “Latin America” to emphasize the shared Latin background of France with the former colonies of Spain and Portugal; this led to Napoleon's failed attempt to take military control of Mexico in the 1860s. However, though Phelan thesis is still mentioned in the U. S. academy, two Latin American historians, the Uruguayan Arturo Ardao and the Chilean Miguel Rojas Mix proved decades ago that the term "Latin America" was used earlier than Phelan claimed, the first use of the term was opposite to support imperialist projects in the Americas. Ardao wrote about this subject in his book Génesis de la idea y el nombre de América latina, Miguel Rojas Mix in his article "Bilbao y el hallazgo de América latina: Unión continental, socialista y libertaria".
As Michel Gobat reminds in his article "The Invention of Latin America: A Transnational History of Anti-Imperialism and Race", "Arturo Ardao, Miguel Rojas Mix, Aims McGuinness have revealed the term'Latin America' had been used in 1856 by Central and South Americans protesting U. S. expansion into the Southern Hemisphere". Edward Shawcross summarizes Ardao's and Rojas Mix's findings in the following way: "Ardao identified the term in a poem by a Colombian diplomat and intellectual resident in France, José María Torres Caicedo, published on 15 February 1857 in a French based Spanish-language newspaper, while Rojas Mix located it in a speech delivered in France by the radical liberal Chilean politician Francisco Bilbao in June 1856". So, regarding when the words "Latin" and "America" were combined for the first time in a printed work, the term "Latin America" was first used in 1856 in a conference by the Chilean politician Francisco Bilbao in Paris; the conference had the title "Initiative of the America.
Idea for a Federal Congress of Republics." The following year the Colombian writer José María Torres Caicedo used the term in his poem "The Two Americas". Two events related with the U. S. played a central role in both works. The first event happened less than a decade before the publication of Bilbao's and Torres Caicedo works: the Mexican–American War, after which Mexico lost a third of its territory; the second event, the Walker affair, happened the same year both works were written: the decision by U. S. president Franklin Pierce to recognize the regime established in Nicaragua by American William Walker and his band of filibusters who ruled Nicaragua for nearly a year and attempted to reinstate slavery there, where it had been abolished for three decades In both Bilbao's and Torres Caicedo's works, the Mexican-American War and Walker's expedition to Nicaragua are explicitly mentioned as examples of dangers for the region. For Bilbao, "Latin America" w
Florin (Australian coin)
The Australian florin was a coin used in the Commonwealth of Australia before decimalisation in 1966. The denomination was first minted in 1910 to the weight as the United Kingdom florin. Florins minted from 1910 to 1945 were produced with a.925 sterling silver content, weighing 11.31 grams with an actual silver weight of 10.46 grams. Florins minted from 1946 to 1963 were produced with a.500 silver content, weighing 11.31 grams with an ASW of 5.65 g. The florin was worth 24 pence; the coin was minted until 1963, with some years omitted: no florins were minted in 1920, 1929–30, 1937, 1948–50 and 1955. Commemorative florins were issued for the following years: 1927, 1934–35, 1951, 1954. Two different designs were issued in each of the commemorative years. No coins of any denomination were issued in 1965, as all minting was shut down in preparation for decimalisation; when Australia decimalised on 14 February 1966, the florin was equal to 20 cents. During World War II, between 1942–1944, florin production was supplemented by coinage produced at the San Francisco branch of the United States Mint.
These coins bear a small "S" mint mark below the Australian coat of arms. The image on the reverse of the coin was the coat of arms of Australia; this comes in two forms, all with the kangaroo and the shield containing the coat of arms. Those issued between 1910 and 1936 have a seven-pointed star above the coat of arms, the Southern Cross constellation within the shield; those issued between 1938 and 1963, have the royal crown above, the six states represented in the shield and a golden wattle plant as a background. H: Birmingham M: Melbourne S: San Francisco Ian W. Pitt, ed.. Renniks Australian Coin and Banknote Values. Chippendale, N. S. W.: Renniks Publications. ISBN 978-0-9585574-4-3. Bruce, Colin R.. 2006 Standard Catalog of World Coins. KP Books. P. 69. ISBN 0-87349-987-5. Florins article on Cruzis Coins Online Coin Club / Coins from Australia / Coin Type: Florin Florin | Blue Sheet Australian Florins
Adelaide is the capital city of the state of South Australia, the fifth-most populous city of Australia. In June 2017, Adelaide had an estimated resident population of 1,333,927. Adelaide is home to more than 75 percent of the South Australian population, making it the most centralised population of any state in Australia. Adelaide is north of the Fleurieu Peninsula, on the Adelaide Plains between the Gulf St Vincent and the low-lying Mount Lofty Ranges which surround the city. Adelaide stretches 20 km from the coast to the foothills, 94 to 104 km from Gawler at its northern extent to Sellicks Beach in the south. Named in honour of Adelaide of Saxe-Meiningen, queen consort to King William IV, the city was founded in 1836 as the planned capital for a freely-settled British province in Australia. Colonel William Light, one of Adelaide's founding fathers, designed the city and chose its location close to the River Torrens, in the area inhabited by the Kaurna people. Light's design set out Adelaide in a grid layout, interspaced by wide boulevards and large public squares, surrounded by parklands.
Early Adelaide was shaped by wealth. Until the Second World War, it was Australia's third-largest city and one of the few Australian cities without a convict history, it has been noted for early examples of religious freedom, a commitment to political progressivism and civil liberties. It has been known as the "City of Churches" since the mid-19th century, referring to its diversity of faiths rather than the piety of its denizens; the demonym "Adelaidean" is used in reference to its residents. As South Australia's seat of government and commercial centre, Adelaide is the site of many governmental and financial institutions. Most of these are concentrated in the city centre along the cultural boulevard of North Terrace, King William Street and in various districts of the metropolitan area. Today, Adelaide is noted for its many festivals and sporting events, its food and wine, its long beachfronts, its large defence and manufacturing sectors, it ranks in terms of quality of life, being listed in the world's top 10 most liveable cities, out of 140 cities worldwide by The Economist Intelligence Unit.
It was ranked the most liveable city in Australia by the Property Council of Australia in 2011, 2012 and 2013. Before its proclamation as a British settlement in 1836, the area around Adelaide was inhabited by the indigenous Kaurna Aboriginal nation. Kaurna culture and language were completely destroyed within a few decades of European settlement of South Australia, but extensive documentation by early missionaries and other researchers has enabled a modern revival of both. South Australia was proclaimed a British colony on 28 December 1836, near The Old Gum Tree in what is now the suburb of Glenelg North; the event is commemorated in South Australia as Proclamation Day. The site of the colony's capital was surveyed and laid out by Colonel William Light, the first Surveyor-General of South Australia, through the design made by the architect George Strickland Kingston. Adelaide was established as a planned colony of free immigrants, promising civil liberties and freedom from religious persecution, based upon the ideas of Edward Gibbon Wakefield.
Wakefield had read accounts of Australian settlement while in prison in London for attempting to abduct an heiress, realised that the eastern colonies suffered from a lack of available labour, due to the practice of giving land grants to all arrivals. Wakefield's idea was for the Government to survey and sell the land at a rate that would maintain land values high enough to be unaffordable for labourers and journeymen. Funds raised from the sale of land were to be used to bring out working-class emigrants, who would have to work hard for the monied settlers to afford their own land; as a result of this policy, Adelaide does not share the convict settlement history of other Australian cities like Sydney, Melbourne and Hobart. As it was believed that in a colony of free settlers there would be little crime, no provision was made for a gaol in Colonel Light's 1837 plan, but by mid-1837 the South Australian Register was warning of escaped convicts from New South Wales and tenders for a temporary gaol were sought.
Following a burglary, a murder, two attempted murders in Adelaide during March 1838, Governor Hindmarsh created the South Australian Police Force in April 1838 under 21-year-old Henry Inman. The first sheriff, Samuel Smart, was wounded during a robbery, on 2 May 1838 one of the offenders, Michael Magee, became the first person to be hanged in South Australia. William Baker Ashton was appointed governor of the temporary gaol in 1839, in 1840 George Strickland Kingston was commissioned to design Adelaide's new gaol. Construction of Adelaide Gaol commenced in 1841. Adelaide's early history was marked by questionable leadership; the first governor of South Australia, John Hindmarsh, clashed with others, in particular the Resident Commissioner, James Hurtle Fisher. The rural area surrounding Adelaide was surveyed by Light in preparation to sell a total of over 405 km2 of land. Adelaide's early economy started to get on its feet in 1838 with the arrival of livestock from Victoria, New South Wales and Tasmania.
Wool production provided an early basis for the South Australian economy. By 1860, wheat farms had been established from Encounter Bay in the south to Clare in the north. George Gawler took over from Hindmarsh in late 1838 and, despite being under orders from the Select Committee on South Australia in Britain not to undertake any public works, promptly oversaw construction of a governo
Sydney is the state capital of New South Wales and the most populous city in Australia and Oceania. Located on Australia's east coast, the metropolis surrounds Port Jackson and extends about 70 km on its periphery towards the Blue Mountains to the west, Hawkesbury to the north, the Royal National Park to the south and Macarthur to the south-west. Sydney is made up of 40 local government areas and 15 contiguous regions. Residents of the city are known as "Sydneysiders"; as of June 2017, Sydney's estimated metropolitan population was 5,230,330 and is home to 65% of the state's population. Indigenous Australians have inhabited the Sydney area for at least 30,000 years, thousands of engravings remain throughout the region, making it one of the richest in Australia in terms of Aboriginal archaeological sites. During his first Pacific voyage in 1770, Lieutenant James Cook and his crew became the first Europeans to chart the eastern coast of Australia, making landfall at Botany Bay and inspiring British interest in the area.
In 1788, the First Fleet of convicts, led by Arthur Phillip, founded Sydney as a British penal colony, the first European settlement in Australia. Phillip named the city Sydney in recognition of 1st Viscount Sydney. Penal transportation to New South Wales ended soon after Sydney was incorporated as a city in 1842. A gold rush occurred in the colony in 1851, over the next century, Sydney transformed from a colonial outpost into a major global cultural and economic centre. After World War II, it experienced mass migration and became one of the most multicultural cities in the world. At the time of the 2011 census, more than 250 different languages were spoken in Sydney. In the 2016 Census, about 35.8% of residents spoke a language other than English at home. Furthermore, 45.4% of the population reported having been born overseas, making Sydney the 3rd largest foreign born population of any city in the world after London and New York City, respectively. Despite being one of the most expensive cities in the world, the 2018 Mercer Quality of Living Survey ranks Sydney tenth in the world in terms of quality of living, making it one of the most livable cities.
It is classified as an Alpha+ World City by Globalization and World Cities Research Network, indicating its influence in the region and throughout the world. Ranked eleventh in the world for economic opportunity, Sydney has an advanced market economy with strengths in finance and tourism. There is a significant concentration of foreign banks and multinational corporations in Sydney and the city is promoted as Australia's financial capital and one of Asia Pacific's leading financial hubs. Established in 1850, the University of Sydney is Australia's first university and is regarded as one of the world's leading universities. Sydney is home to the oldest library in Australia, State Library of New South Wales, opened in 1826. Sydney has hosted major international sporting events such as the 2000 Summer Olympics; the city is among the top fifteen most-visited cities in the world, with millions of tourists coming each year to see the city's landmarks. Boasting over 1,000,000 ha of nature reserves and parks, its notable natural features include Sydney Harbour, the Royal National Park, Royal Botanic Garden and Hyde Park, the oldest parkland in the country.
Built attractions such as the Sydney Harbour Bridge and the World Heritage-listed Sydney Opera House are well known to international visitors. The main passenger airport serving the metropolitan area is Kingsford-Smith Airport, one of the world's oldest continually operating airports. Established in 1906, Central station, the largest and busiest railway station in the state, is the main hub of the city's rail network; the first people to inhabit the area now known as Sydney were indigenous Australians having migrated from northern Australia and before that from southeast Asia. Radiocarbon dating suggests human activity first started to occur in the Sydney area from around 30,735 years ago. However, numerous Aboriginal stone tools were found in Western Sydney's gravel sediments that were dated from 45,000 to 50,000 years BP, which would indicate that there was human settlement in Sydney earlier than thought; the first meeting between the native people and the British occurred on 29 April 1770 when Lieutenant James Cook landed at Botany Bay on the Kurnell Peninsula and encountered the Gweagal clan.
He noted in his journal that they were somewhat hostile towards the foreign visitors. Cook was not commissioned to start a settlement, he spent a short time collecting food and conducting scientific observations before continuing further north along the east coast of Australia and claiming the new land he had discovered for Britain. Prior to the arrival of the British there were 4,000 to 8,000 native people in Sydney from as many as 29 different clans; the earliest British settlers called the natives Eora people. "Eora" is the term the indigenous population used to explain their origins upon first contact with the British. Its literal meaning is "from this place". Sydney Cove from Port Jackson to Petersham was inhabited by the Cadigal clan; the principal language groups were Darug and Dharawal. The earliest Europeans to visit the area noted that the indigenous people were conducting activities such as camping and fishing, using trees for bark and food, collecting shells, cooking fish. Britain—before that, England—and Ireland had for a long time been sending their convicts across the Atlantic to the American colonies.
That trade was ended with the Declaration of Independence by the United States in 1776. Britain decided in 1786 to found a new penal outpost in the territory discovered by Cook some 16 years ear