Bermuda is a British Overseas Territory in the North Atlantic Ocean. It is 1,070 km east-southeast of Cape Hatteras, North Carolina; the capital city is Hamilton. Bermuda is self-governing, with its own constitution and its own government, which enacts local laws, while the United Kingdom retains responsibility for defence and foreign relations; as of July 2018, its population is the highest of the British overseas territories. Bermuda's two largest economic sectors are offshore insurance and reinsurance, tourism. Bermuda had one of the world's highest GDP per capita for most of the 20th century; the islands have a subtropical climate and lies in the hurricane belt and thus is prone to related severe weather. The first European known to have reached Bermuda was the Spanish sea captain Juan de Bermúdez in 1505, after whom the islands are named, he claimed the islands for the Spanish Empire. Unusually, Bermuda had no indigenous population at the time of its discovery, nor at the time of the initial British settlement a century later.
Bermúdez never landed on the islands, but made two visits to the archipelago, of which he created a recognisable map. Shipwrecked Portuguese mariners are now thought to have been responsible for the 1543 inscription on Portuguese Rock. Subsequent Spanish or other European parties are believed to have released pigs there, which had become feral and abundant on the island by the time European settlement began. In 1609, the English Virginia Company permanently settled Bermuda in the aftermath of a hurricane, when the crew and passengers of the Sea Venture steered the ship onto the surrounding reef to prevent its sinking landed ashore; the island was administered as an extension of Virginia by the Company until 1614. Its spin-off, the Somers Isles Company, took over in 1615 and managed the colony until 1684. At that time, the company's charter was revoked, the English Crown took over administration; the islands became a British colony following the 1707 unification of the parliaments of Scotland and England, which created the Kingdom of Great Britain.
After 1949, when Newfoundland became part of Canada, Bermuda became the oldest remaining British overseas territory. After the return of Hong Kong to China in 1997, Bermuda became the most populous remaining dependent territory, its first capital, St. George's, was established in 1612. Bermuda was discovered in 1505 by Spanish explorer Juan de Bermúdez, it is mentioned in Legatio Babylonica, published in 1511 by historian Pedro Mártir de Anglería, was included on Spanish charts of that year. Both Spanish and Portuguese ships used the islands as a replenishment spot to take on fresh meat and water. Legends arose of spirits and devils, now thought to have stemmed from the calls of raucous birds and the loud noise heard at night from wild hogs. Combined with the frequent storm-wracked conditions and the dangerous reefs, the archipelago became known as the Isle of Devils. Neither Spain nor Portugal attempted to settle it. For the next century, the island is believed to have been visited but not settled.
After the failure of the first two English colonies in Virginia, a more determined effort was initiated by King James I of England, who granted a Royal Charter to the Virginia Company. It established a colony at Jamestown, Virginia, in 1607. Two years a flotilla of seven ships left England under the Company's Admiral, Sir George Somers, the new Governor of Jamestown, Sir Thomas Gates, with several hundred settlers and supplies to relieve the colony of Jamestown. Somers had previous experience sailing with both Sir Francis Sir Walter Raleigh; the flotilla was broken up by a storm. As the flagship, Sea Venture, was taking on water, Somers drove it onto Bermuda's reef and gained the shores safely with smaller boats – all 150 passengers and a dog survived, they stayed ten months, building two small ships to sail to Jamestown. The group of islands were claimed for the English Crown, the charter of the Virginia Company was extended to include them. In 1610, all but three of the survivors of Sea Venture sailed on to Jamestown.
Among them was John Rolfe, whose wife and child died and were buried in Bermuda. In Jamestown he married Pocahontas, a daughter of the powerful Powhatan, leader of a large confederation of about 30 Algonquian-speaking tribes in coastal Virginia. In 1612, the English began intentional settlement of Bermuda with the arrival of the ship Plough. St. George's was designated as Bermuda's first capital, it is the oldest continually inhabited English town in the New World. In 1615, the colony was passed to a new company, the Somers Isles Company, named after the admiral who saved his passengers from Sea Venture. Many Virginian place names refer to the archipelago, such as Bermuda City, Bermuda Hundred; the first English coins to circulate in North America were struck in Bermuda. The archipelago's limited land area and resources led to the creation of what may be the earliest conservation laws of the New World. In 1616 and 1620 acts were passed banning the hunting of young tortoises. In 1
The livre tournois, French for the "Tours pound", was: one of numerous currencies used in France in the Middle Ages. The denier tournois coin was minted by the abbey of Saint Martin in the Touraine region of France. Soon after Philip II of France seized the counties of Anjou and Touraine in 1203 and standardized the use of the livre tournois there, the livre tournois began to supersede the livre parisis, up to that point the official currency of the Capetian dynasty; the livre tournois was, in common with the original livre of Charlemagne, divided into 20 sols, each of, divided into 12 deniers. Between 1360 and 1641, coins worth one livre tournois were minted, known as francs. Other francs were minted under Henri III of France and Henri IV of France; the use of the name "franc" became a synonym for livre tournois in accounting. The first French paper money, issued between 1701 and 1720, was denominated in livres tournois; this was the last time the name was used as notes and coins were denominated in livres, the livre parisis having been abolished in 1667.
With many forms of domestic and international money circulating throughout Europe in the late Middle Ages and the early modern period, the use of an accounting currency became a financial necessity. In the world of international banking of the 13th century, it was the florin and ducat that were used. In France, the livre tournois and the currency system based on it became a standard monetary unit of accounting and continued to be used when the "livre tournois" ceased to exist as an actual coin. For example, the Louisiana Purchase treaty of 1803 specified the relative ratios of the franc and livre tournois; the official use of the livre tournois accounting unit in all contracts in France was legislated in 1549, but it had been one of the standard units of accounting in France since the 13th century. In 1577 the livre tournois accounting unit was abolished and accountants switched to the écu, at that time the major French gold coin in actual circulation, but in 1602 the livre tournois accounting unit was brought back..
Since coins in Europe in the Middle Ages and the Early modern period did not have any indication of their value, their official value was determined by royal edicts. In cases of financial need, French kings could use the official value for currency devaluation; this could be done in two ways: the amount of precious metal in a newly minted French coin could be reduced while maintaining the old value in livres tournois or the official value of a domestic or foreign coin in circulation could be increased. By reversing these techniques, currencies could be reinforced. For example: the worth of an écu d'or, a French gold coin, was changed from 60 sols to 57 sols in 1573. to curb increasing use of the Spanish real, its official worth was decreased to 4 sols 2 deniers in the 1570s. Royal finance officers faced many difficulties. In addition to currency speculation and the intentional shaving of precious metal from coins, they had the difficult problem of setting values for gold, silver and billon coins, responding to the large influx of foreign coin and the appearance of inferior foreign coins of intentionally similar design.
For more on these issues, see Monetary policy and Gresham's Law. A glyph for the livre tournois was added to Unicode 5.2, in the Currency Symbols block at code point U+20B6: ₶. French livre Livre parisis French franc Louis Luxembourgish livre Écu Roman currency
British West African pound
The British West African Pound was the currency of British West Africa, a group of British colonies and mandate territories. It was equal to the pound sterling and was subdivided into 20 shillings, each of 12 pence. In the 19th century, the pound sterling became the currency of the British West African territories and standard issue United Kingdom coinage circulated; the West African territories in question were the Gold Coast, Sierra Leone and The Gambia. In 1912, the authorities in London set up the West African Currency Board and issued a distinctive set of sterling coinage for use in British West Africa; the circumstance prompting this move was a tendency for existing UK coins used in the West African territories to leave the region and return to the UK, hence causing a local dearth of coinage. A unique British West African variety of the sterling coinage would not be accepted in the shops of Britain and so would remain in circulation locally. There was a precedent for this move: in 1910, Australia had commenced issuing its own distinctive varieties of sterling coinage, but the reasons for doing so were quite different from those relating to British West Africa.
Australian authorities issued local coinage as a step towards full nationhood. With the exception of Jamaica where special low denomination coins were issued in place of the United Kingdom copper coins, due to local superstitions surrounding the use of copper coinage for church collections, authorities in London did not replace any UK sterling coins with local issues for any other British colony; the British West African pound was adopted by Liberia in 1907, replacing the Liberian dollar, although it was not served by the West African Currency Board. Liberia changed to the U. S. dollar in 1943. Togo and Cameroon adopted the West African currency in 1914 and 1916 when British and French troops took over those colonies from Germany as part of World War I. Beginning in 1958, the British West African pound was replaced by local currencies in the individual territories; the replacements were: In 1907, aluminium 1⁄10 penny and cupro-nickel 1 penny coins were introduced. Both coins were holed. In 1908, cupro-nickel replaced aluminium in the 1⁄10 penny and, in 1911, cupro-nickel ½ penny coins were introduced.
In 1913, silver 3 and 6 pence, 1 and 2 shillings were introduced. In 1920, brass replaced silver in these denominations. In 1938, cupro-nickel 3 pence coins were introduced, with nickel-brass replacing brass in the higher denominations. In 1952, bronze replaced cupro-nickel in the 1/2 and 1 penny coins; the last coins of British West Africa were struck in 1958. In 1916, the West African Currency Board introduced notes for 2, 10 and 20 shillings, followed by 1 shilling notes in 1918. Only the 10 and 20 shillings notes were issued after 1918, until 100 shillings notes were introduced in 1953; the last notes were produced in 1962. Biafran pound Gambian pound Ghanaian pound Gold Coast ackey Nigerian pound West African Monetary Zone Economic Community of West African States References Sources Coins from British West Africa
Brixton is a district of South London, within the London Borough of Lambeth. The area is identified in the London Plan as one of 35 major centres in Greater London. Brixton is residential with a prominent street market and substantial retail sector, it is a multiethnic community, with a large percentage of its population of Afro-Caribbean descent. It lies within Inner South London and is bordered by Stockwell, Streatham, Tulse Hill and Herne Hill; the district houses the main offices of the London Borough of Lambeth. Brixton is 2.7 miles south-southwest from the geographical centre of London near Brixton Underground station. The name Brixton is thought to originate from Brixistane, meaning the stone of Brixi, a Saxon lord. Brixi is thought to have erected a boundary stone to mark the meeting place of the ancient hundred court of Surrey; the location is unknown but is thought to be at the top of Brixton Hill, at a road known at the time as Bristow or Brixton Causeway, long before any settlement in the area.
Brixton marks the rise from the marshes of North Lambeth up to the hills of Upper Norwood and Streatham. At the time the River Effra flowed from its source in Upper Norwood through Herne Hill to Brixton. At Brixton the river was crossed by low bridges for Roman roads to the south coast of Britain, now Brixton Road and Clapham Road; the main roads were connected through a network of medieval country lanes, such as Acre Lane, Coldharbour Lane, Brixton Water Lane and Lyham Road Black Lane. It was only at the end of the 18th century that villages and settlements formed around Brixton, as the original woodland was reduced until the area was covered in farmland and market gardens known for game and strawberries; the area remained undeveloped until the beginning of the 19th century, the main settlements being near Stockwell, Brixton Hill and Coldharbour Lane. With the opening of Vauxhall Bridge in 1816, improved access to Central London led to a process of suburban development; the largest single development, one of the last in suburban character, was Angell Town, laid out in the 1850s on the east side of Brixton Road, so named after a family that owned land in Lambeth from the late 17th century until well into the 20th.
One of a few surviving windmills in London, built in 1816, is just off Brixton Hill and surrounded by houses built during Brixton's Victorian expansion. When the London sewerage system was constructed during the mid-19th century, its designer Sir Joseph Bazalgette incorporated flows from the River Effra, which used to flow through Brixton, into his'high-level interceptor sewer' known as the Effra sewer. Brixton was transformed into a middle class suburb between the 1890s. Railways linked Brixton with the centre of London when the Chatham Main Line was built through the area by the London and Dover Railway in the 1860s. In 1888, Electric Avenue was so named after it became the first street in London to be lit by electricity. In this time, large expensive houses were constructed along the main roads in Brixton, which were converted into flats and boarding houses at the start of the 20th century as the middle classes were replaced by an influx of the working classes. By 1925, Brixton attracted thousands of new people.
It housed the largest shopping centre in South London at the time, as well as a thriving market, pubs and a theatre. In the 1920s, Brixton was the shopping capital of South London with three large department stores and some of the earliest branches of what are now Britain's major national retailers. Today, Brixton Road is the main shopping area, fusing into Brixton Market. A prominent building on Brixton High Street is Morleys, an independent department store established in the 1880s. On the western boundary of Brixton with Clapham stands the Sunlight Laundry, an Art Deco factory building. Designed by architect F. E. Simpkins and erected in 1937, this is one of the few art deco buildings, still owned by the firm that commissioned it and is still used for its original purpose; the Brixton area was bombed during World War II, contributing to a severe housing crisis, which in turn led to urban decay. This was followed by the building of council housing. In the 1940s and 1950s, many immigrants from the West Indies and Ireland, settled in Brixton.
More recent immigrants include other European citizens. Brixton has an ageing population, which affects housing strategies in the area; the first wave of immigrants who formed the British African-Caribbean community arrived in 1948 at Tilbury Docks on the HMT Empire Windrush from Jamaica and were temporarily housed in the Clapham South deep shelter. The nearest Labour Exchange was on Coldharbour Lane and the new arrivals spread out into local accommodation. Many immigrants only intended to stay in Britain for a few years, but although a number returned to the Caribbean, the majority remained to settle permanently; the arrival of the passengers has become an important landmark in the history of modern Britain, the image of West Indians filing off its gangplank has come to symbolise the beginning of modern British multicultural society. In 1998 the area in front of the Tate Library in Brixton was renamed "Windrush Square" to mark the 50th anniversary of the arrival of the Windrush. Brixton was the scene of riots in April 1981 at a time when Brixton underwent deep social and economic problems—high unemployment, high crime, poor housing, no amenities—in a predominantly African-Caribbean community.
The Metropolitan Police began Operation Swamp 81 at the beginning of April, aimed at reducing street crime through the repeated u
The Bristol Pound is a form of local complementary currency, or community currency launched in Bristol, UK on 19 September 2012. Its objective is to encourage people to spend their money with local, independent businesses in Bristol and the former County of Avon; as of September 2012 it is the largest alternative in the UK to official sterling currency, though it is backed by Sterling. The Bristol Pound is a local and community currency, created to "improve Bristol's local economy", its primary aim is to support independent traders in order to maintain diversity in business around the city. The scheme is a joint not-for-profit enterprise between Bristol Pound Community Interest Company and Bristol Credit Union. Previous to the Bristol Pound, local currencies were launched in the UK in Totnes, Lewes and Stroud. If a person spends Bristol Pounds at a local shop, the owner of this shop can respend them by using them to buy supplies from another local business, or pay local taxes to Bristol City Council.
The business can for instance use their Bristol Pounds to pay a farmer in the Avon area for fresh fruit and vegetables. This farmer can pay a local architect, which accepts Bristol Pounds, to renovate a part of his farm, so on. In this way money keeps on circulating locally to benefit local independent businesses in the area. If the person had spent Sterling Pounds at a supermarket chain instead, for example, more than 80% of their money would have left the area immediately. Use of a local currency thus increases cash flow between businesses that use the currency and stimulates local economic development. Using a local currency not only stimulates the local economy, but creates stronger bonds within the community by increasing social capital. Moreover, buying locally decreases emissions through reduced transportation externalities. Internal trade through the use of complementary currencies is a resilience strategy, which reduces the impact of national economic crises and dependency on international trade by enhancing self-sufficiency.
The use of a local currency increases the awareness of the impact of one's economic activity. Bristol Pound contributed to Bristol being awarded the title of European Green Capital 2015. Bristol is the first city in the UK. Bristol Pound account holders can convert £Bs to and from pounds sterling at a 1:1 ratio. Bristol City Council, other organisations in the city, offer their employees the option to take part of their salaries in Bristol Pounds; the former Mayor of Bristol, George Ferguson, accepted his entire salary in Bristol Pounds. Since June 2015 energy bills can be paid in Bristol Pounds to the 100% renewable energy provider, Good Energy, its CEO claimed. In June 2015, according to the Bristol Pound CEO, some £1 million had been issued in £Bs, with more than £B700,000 still in circulation. More than 800 businesses accept Bristol Pounds and more than a thousand users have a Bristol Pound account; the Bristol Pound is managed by the non-profit Bristol Pound Community Interest Company in collaboration with the local financial institution, the Bristol Credit Union.
The Bristol Credit Union ensures that every £1 sterling converted to a printed £B1 is backed in a secure trust fund. The scheme is supported by Bristol City Council. Bristol Pound is part of a larger international movement of local currencies; the European funded Community Currencies in Action partnership provided support for communities which want to develop their new currency and works on innovations. Within the UK, Bristol Pound CIC founded and maintains the Guild of Independent Currencies – a platform for sharing experiences about local currencies. In this framework, Bristol CIC is working with Exeter, amongst others, helping it to launch its own local currency. Bristol Pound in involved in the Digipay4Growth project, coordinated by the Social Trade organisation and with partners such as Sardex. Through this project Bristol Pounds is involved in the digitalisation of its currency, using Cyclos software; the Bristol Pounds can be used like conventional money. One Bristol Pound is equivalent to one Sterling Pound.
Some businesses apply discounts for customers paying in Bristol Pounds. Local taxes and electricity bills can be paid with Bristol Pounds online. Paper Bristol Pounds Paper £Bs can be used by anyone, have been designed by Bristolians, carry many high security features to prevent fraud. In June 2015 new paper £Bs were issued; these can be exchanged at a 1:1 rate for sterling at seventeen different cash points throughout the city, or ordered online through the Bristol Pound website. Electronic payments The Bristol Pound was the second local scheme to be able to accept electronic payments in the UK; this allows, for example, participating small businesses to accept payments by SMS, without needing to pay for and install a credit card machine. The businesses are charged 2% of the amount billed for payments made by SMS, a similar or sometimes reduced rate than with credit or debit cards, or PayPal. Payments can be made online, with the recipient of each payment charged at a rate of 1%, capped at 95p per transaction.
Every paper £B is backed up by a pound sterling deposited at Bristol Credit Union. The Bristol Pound is not legal tender, participation is therefore voluntary; the directors of the scheme cannot prevent national and multinational companies accepting paper £Bs, but can decide, based on the Rules of Membership, whether a business is per
The shilling is a unit of currency used in Austria, the United Kingdom, New Zealand, United States and other British Commonwealth countries. The shilling is used as a currency in four east African countries: Kenya, Tanzania and Somalia, it is the proposed currency that the east African community plans to introduce. The word shilling comes from old English "Scilling", a monetary term meaning twentieth of a pound, from the Proto-Germanic root skiljaną meaning'to separate, divide.' The word "Scilling" is mentioned in the earliest recorded Germanic law codes, those of Æthelberht of Kent. Slang terms for the old shilling coins include "bob" and "hog". While the derivation of "bob" is uncertain, John Camden Hotten in his 1864 Slang Dictionary says the original version was "bobstick" and speculates that it may be connected with Sir Robert Walpole. One abbreviation for shilling is s, it was represented by a solidus symbol, which may have stood for a long s or ſ, thus 1/9 would be one shilling and ninepence.
A price with no pence was sometimes written with a solidus and a dash: 11/–. The solidus symbol is still used for the Kenyan shilling, rather than sh. During the Great Recoinage of 1816, the mint was instructed to coin one troy pound of standard silver into 66 shillings, or its equivalent in other denominations; this set the weight of the shilling, its subsequent decimal replacement 5 new pence coin, at 87.2727 grains or 5.655 grams from 1816 until 1990, when a new smaller 5p coin was introduced. In the past, the English world has had various myths about the shilling. One myth was that it was deemed to be the value of a cow in a sheep elsewhere. A shilling was a coin used in England from the reign of Henry VII; the shilling continued in use after the Acts of Union of 1707 created a new United Kingdom from the Kingdoms of England and Scotland, under Article 16 of the Articles of Union, a common currency for the new United Kingdom was created. The term shilling was in use in Scotland from early medieval times.
The common currency created in 1707 by Article 16 of the Articles of Union continued in use until decimalisation in 1971. In the traditional pounds and pence system, there were 20 shillings per pound and 12 pence per shilling, thus there were 240 pence in a pound. Three coins denominated in multiple shillings were in circulation at this time, they were: two shillings, which adopted the value of 10 new pence at decimalisation. At decimalisation in 1971, the shilling coin was superseded by the new five-pence piece, of identical size and weight and had the same value, inherited the shilling's slang name of a bob. Shillings remained in circulation until the five pence coin was reduced in size in 1991. Between 1701 and the unification of the currencies in 1825, the Irish shilling was valued at 13 pence and known as the "black hog", as opposed to the 12-pence English shillings which were known as "white hogs". In the Irish Free State and Republic of Ireland the shilling coin was issued as scilling in Irish.
It was worth 1/20th of an Irish pound, was interchangeable at the same value to the British coin, which continued to be used in Northern Ireland. The coin featured a bull on the reverse side; the first minting, from 1928 until 1941, contained 75% silver, more than the equivalent British coin. The original Irish shilling coin ) was withdrawn from circulation on 1 January 1993, when a smaller five pence coin was introduced. Australian shillings, twenty of which made up one Australian pound, were first issued in 1910, with the Australian coat of arms on the reverse and King Edward VII on the face; the coat of arms design was retained through the reign of King George V until a new ram's head design was introduced for the coins of King George VI. This design continued until the last year of issue in 1963. In 1966, Australia's currency was decimalised and the shilling was replaced by a ten cent coin, where 10 shillings made up one Australian dollar; the slang term for a shilling coin in Australia was "deener".
The slang term for a shilling as currency unit was "bob", the same as in the United Kingdom. After 1966, shillings continued to circulate, as they were replaced by 10-cent coins of the same size and weight. New Zealand shillings, twenty of which made up one New Zealand pound, were first issued in 1933 and featured the image of a Maori warrior carrying a taiaha "in a warlike attitude" on the reverse. In 1967, New Zealand's currency was decimalised and the shilling was replaced by a ten cent coin of the same size and weight. Ten cent coins minted through the remainder of the 1960s included the legend "ONE SHILLING" on the reverse. Smaller 10-cent coins were introduced in 2006. Shillings were used in Malta, prior to decimalisation in 1972, had a face value of five Maltese cents. In British Ceylon, an shilling was equivalent to eight fanams. With the replacement of the rixdollar by the rupee in 1852, a shilling was deemed to be equivalent to half a rupee. On the decimalisation of the currency