The New York Times
The New York Times is an American newspaper based in New York City with worldwide influence and readership. Founded in 1851, the paper has won more than any other newspaper; the Times is ranked 17th in the world by circulation and 2nd in the U. S; the paper is owned by The New York Times Company, publicly traded and is controlled by the Sulzberger family through a dual-class share structure. It has been owned by the family since 1896. G. Sulzberger, the paper's publisher, his father, Arthur Ochs Sulzberger Jr. the company's chairman, are the fourth and fifth generation of the family to helm the paper. Nicknamed "The Gray Lady", the Times has long been regarded within the industry as a national "newspaper of record"; the paper's motto, "All the News That's Fit to Print", appears in the upper left-hand corner of the front page. Since the mid-1970s, The New York Times has expanded its layout and organization, adding special weekly sections on various topics supplementing the regular news, editorials and features.
Since 2008, the Times has been organized into the following sections: News, Editorials/Opinions-Columns/Op-Ed, New York, Sports of The Times, Science, Home and other features. On Sunday, the Times is supplemented by the Sunday Review, The New York Times Book Review, The New York Times Magazine and T: The New York Times Style Magazine; the Times stayed with the broadsheet full-page set-up and an eight-column format for several years after most papers switched to six, was one of the last newspapers to adopt color photography on the front page. The New York Times was founded as the New-York Daily Times on September 18, 1851. Founded by journalist and politician Henry Jarvis Raymond and former banker George Jones, the Times was published by Raymond, Jones & Company. Early investors in the company included Edwin B. Morgan, Christopher Morgan, Edward B. Wesley. Sold for a penny, the inaugural edition attempted to address various speculations on its purpose and positions that preceded its release: We shall be Conservative, in all cases where we think Conservatism essential to the public good.
We do not believe that everything in Society is either right or wrong. In 1852, the newspaper started a western division, The Times of California, which arrived whenever a mail boat from New York docked in California. However, the effort failed. On September 14, 1857, the newspaper shortened its name to The New-York Times. On April 21, 1861, The New York Times began publishing a Sunday edition to offer daily coverage of the Civil War. One of the earliest public controversies it was involved with was the Mortara Affair, the subject of twenty editorials in the Times alone; the main office of The New York Times was attacked during the New York City Draft Riots. The riots, sparked by the beginning of drafting for the Union Army, began on July 13, 1863. On "Newspaper Row", across from City Hall, Henry Raymond stopped the rioters with Gatling guns, early machine guns, one of which he manned himself; the mob diverted, instead attacking the headquarters of abolitionist publisher Horace Greeley's New York Tribune until being forced to flee by the Brooklyn City Police, who had crossed the East River to help the Manhattan authorities.
In 1869, Henry Raymond died, George Jones took over as publisher. The newspaper's influence grew in 1870 and 1871, when it published a series of exposés on William Tweed, leader of the city's Democratic Party—popularly known as "Tammany Hall" —that led to the end of the Tweed Ring's domination of New York's City Hall. Tweed had offered The New York Times five million dollars to not publish the story. In the 1880s, The New York Times transitioned from supporting Republican Party candidates in its editorials to becoming more politically independent and analytical. In 1884, the paper supported Democrat Grover Cleveland in his first presidential campaign. While this move cost The New York Times a portion of its readership among its more progressive and Republican readers, the paper regained most of its lost ground within a few years. After George Jones died in 1891, Charles Ransom Miller and other New York Times editors raised $1 million dollars to buy the Times, printing it under the New York Times Publishing Company.
However, the newspaper was financially crippled by the Panic of 1893, by 1896, the newspaper had a circulation of less than 9,000, was losing $1,000 a day. That year, Adolph Ochs, the publisher of the Chattanooga Times, gained a controlling interest in the company for $75,000. Shortly after assuming control of the paper, Ochs coined the paper's slogan, "All The News That's Fit To Print"; the slogan has appeared in the paper since September 1896, has been printed in a box in the upper left hand corner of the front page since early 1897. The slogan was a jab at competing papers, such as Joseph Pulitzer's New York World and William Randolph Hearst's New York Journal, which were known for a lurid and inaccurate reporting of facts and opinions, described by the end of the century as "yellow journalism". Under Ochs' guidance, aided by Carr
Jamaica is an island country situated in the Caribbean Sea. Spanning 10,990 square kilometres in area, it is the third-largest island of the Greater Antilles and the fourth-largest island country in the Caribbean. Jamaica lies about 145 kilometres south of Cuba, 191 kilometres west of Hispaniola. Inhabited by the indigenous Arawak and Taíno peoples, the island came under Spanish rule following the arrival of Christopher Columbus in 1494. Many of the indigenous people died of disease, the Spanish transplanted African slaves to Jamaica as labourers; the island remained a possession of Spain until 1655, when England conquered it and renamed it Jamaica. Under British colonial rule Jamaica became a leading sugar exporter, with its plantation economy dependent on African slaves; the British emancipated all slaves in 1838, many freedmen chose to have subsistence farms rather than to work on plantations. Beginning in the 1840s, the British utilized Chinese and Indian indentured labour to work on plantations.
The island achieved independence from the United Kingdom on 6 August 1962. With 2.9 million people, Jamaica is the third-most populous Anglophone country in the Americas, the fourth-most populous country in the Caribbean. Kingston is the country's capital and largest city, with a population of 937,700. Jamaicans have African ancestry, with significant European, Indian and mixed-race minorities. Due to a high rate of emigration for work since the 1960s, Jamaica has a large diaspora in Canada, the United Kingdom, the United States. Jamaica is an upper-middle income country with an average of 4.3 million tourists a year. Jamaica is a Commonwealth realm, with Elizabeth II as its queen, her appointed representative in the country is the Governor-General of Jamaica, an office held by Sir Patrick Allen since 2009. Andrew Holness has served as Prime Minister of Jamaica since March 2016. Jamaica is a parliamentary constitutional monarchy with legislative power vested in the bicameral Parliament of Jamaica, consisting of an appointed Senate and a directly elected House of Representatives.
The indigenous people, the Taíno, called the island Xaymaca in Arawakan, meaning the "Land of Wood and Water" or the "Land of Springs". Colloquially Jamaicans refer to their home island as the "Rock." Slang names such as "Jamrock", "Jamdown", or "Ja", have derived from this. The Arawak and Taíno indigenous people, originating in South America, first settled on the island between 4000 and 1000 BC; when Christopher Columbus arrived in 1494, there were more than 200 villages ruled by caciques. The south coast of Jamaica was the most populated around the area now known as Old Harbour; the Taino still inhabited Jamaica when the English took control of the island in 1655. The Jamaican National Heritage Trust is attempting to locate and document any evidence of the Taino/yamaye. Today, few Jamaican natives remain. Most notably among some Maroon communities as well as within some communities in Cornwall County, Jamaica Christopher Columbus claimed Jamaica for Spain after landing there in 1494, his probable landing point was Dry Harbour, called Discovery Bay, St. Ann's Bay was named "Saint Gloria" by Columbus, as the first sighting of the land.
One and a half kilometres west of St. Ann's Bay is the site of the first Spanish settlement on the island, established in 1509 and abandoned around 1524 because it was deemed unhealthy; the capital was moved to Spanish Town called St. Jago de la Vega, around 1534. Spanish Town has the oldest cathedral of the British colonies in the Caribbean; the Spanish were forcibly evicted by the English at Ocho Rios in St. Ann. In the 1655 Invasion of Jamaica, the English, led by Sir William Penn and General Robert Venables, took over the last Spanish fort on the island; the name of Montego Bay, the capital of the parish of St. James, was derived from the Spanish name manteca bahía, alluding to the lard-making industry based on processing the numerous boars in the area. In 1660, the population of Jamaica was about 4,500 1,500 black. By the early 1670s, as the English developed sugar cane plantations and "imported" more slaves, black people formed a majority of the population; the colony was shaken and destroyed by the 1692 Jamaica earthquake.
The Irish in Jamaica formed a large part of the island's early population, making up two-thirds of the white population on the island in the late 17th century, twice that of the English population. They were brought in as indentured labourers and soldiers after the conquest of Jamaica by Cromwell's forces in 1655; the majority of Irish were transported by force as political prisoners of war from Ireland as a result of the ongoing Wars of the Three Kingdoms at the time. Migration of large numbers of Irish to the island continued into the 18th century. Jews were expelled from Spain in 1492 and forcibly converted to Christianity in Portugal, during a period of persecution by the Inquisition; some Spanish and Portuguese Jewish refugees went to the Netherlands and England, from there to Jamaica. Others were part of the Iberian colonisation of the New World, after overtly converting to Catholicism, as only Catholics were allowed in the Spanish colonies. By 1660, Jamaica had become a refuge for Jews in the New World attracting those, expelled from Spain and Portugal.
An early group of Jews arrived in 1510, soon after the son of Christopher Columbus settled on the island. Working as merchants and traders, the
New Zealand is a sovereign island country in the southwestern Pacific Ocean. The country geographically comprises two main landmasses—the North Island, the South Island —and around 600 smaller islands. New Zealand is situated some 2,000 kilometres east of Australia across the Tasman Sea and 1,000 kilometres south of the Pacific island areas of New Caledonia and Tonga; because of its remoteness, it was one of the last lands to be settled by humans. During its long period of isolation, New Zealand developed a distinct biodiversity of animal and plant life; the country's varied topography and its sharp mountain peaks, such as the Southern Alps, owe much to the tectonic uplift of land and volcanic eruptions. New Zealand's capital city is Wellington. Sometime between 1250 and 1300, Polynesians settled in the islands that were named New Zealand and developed a distinctive Māori culture. In 1642, Dutch explorer Abel Tasman became the first European to sight New Zealand. In 1840, representatives of the United Kingdom and Māori chiefs signed the Treaty of Waitangi, which declared British sovereignty over the islands.
In 1841, New Zealand became a colony within the British Empire and in 1907 it became a dominion. Today, the majority of New Zealand's population of 4.9 million is of European descent. Reflecting this, New Zealand's culture is derived from Māori and early British settlers, with recent broadening arising from increased immigration; the official languages are English, Māori, NZ Sign Language, with English being dominant. A developed country, New Zealand ranks in international comparisons of national performance, such as quality of life, education, protection of civil liberties, economic freedom. New Zealand underwent major economic changes during the 1980s, which transformed it from a protectionist to a liberalised free-trade economy; the service sector dominates the national economy, followed by the industrial sector, agriculture. Nationally, legislative authority is vested in an elected, unicameral Parliament, while executive political power is exercised by the Cabinet, led by the prime minister Jacinda Ardern.
Queen Elizabeth II is the country's monarch and is represented by a governor-general Dame Patsy Reddy. In addition, New Zealand is organised into 11 regional councils and 67 territorial authorities for local government purposes; the Realm of New Zealand includes Tokelau. New Zealand is a member of the United Nations, Commonwealth of Nations, ANZUS, Organisation for Economic Co-operation and Development, ASEAN Plus Six, Asia-Pacific Economic Cooperation, the Pacific Community and the Pacific Islands Forum. Dutch explorer Abel Tasman sighted New Zealand in 1642 and named it Staten Land "in honour of the States General", he wrote, "it is possible that this land joins to the Staten Land but it is uncertain", referring to a landmass of the same name at the southern tip of South America, discovered by Jacob Le Maire in 1616. In 1645, Dutch cartographers renamed the land Nova Zeelandia after the Dutch province of Zeeland. British explorer James Cook subsequently anglicised the name to New Zealand. Aotearoa is the current Māori name for New Zealand.
It is unknown whether Māori had a name for the whole country before the arrival of Europeans, with Aotearoa referring to just the North Island. Māori had several traditional names for the two main islands, including Te Ika-a-Māui for the North Island and Te Waipounamu or Te Waka o Aoraki for the South Island. Early European maps labelled the islands North and South. In 1830, maps began to use North and South to distinguish the two largest islands and by 1907 this was the accepted norm; the New Zealand Geographic Board discovered in 2009 that the names of the North Island and South Island had never been formalised, names and alternative names were formalised in 2013. This set the names as North Island or Te Ika-a-Māui, South Island or Te Waipounamu. For each island, either its English or Māori name can be used. New Zealand was one of the last major landmasses settled by humans. Radiocarbon dating, evidence of deforestation and mitochondrial DNA variability within Māori populations suggest New Zealand was first settled by Eastern Polynesians between 1250 and 1300, concluding a long series of voyages through the southern Pacific islands.
Over the centuries that followed, these settlers developed a distinct culture now known as Māori. The population was divided into iwi and hapū who would sometimes cooperate, sometimes compete and sometimes fight against each other. At some point a group of Māori migrated to Rēkohu, now known as the Chatham Islands, where they developed their distinct Moriori culture; the Moriori population was all but wiped out between 1835 and 1862 because of Taranaki Māori invasion and enslavement in the 1830s, although European diseases contributed. In 1862 only 101 survived, the last known full-blooded Moriori died in 1933; the first Europeans known to have reached New Zeala
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.
Australia the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania and numerous smaller islands. It is the world's sixth-largest country by total area; the neighbouring countries are Papua New Guinea and East Timor to the north. The population of 25 million is urbanised and concentrated on the eastern seaboard. Australia's capital is Canberra, its largest city is Sydney; the country's other major metropolitan areas are Melbourne, Brisbane and Adelaide. Australia was inhabited by indigenous Australians for about 60,000 years before the first British settlement in the late 18th century, it is documented. After the European exploration of the continent by Dutch explorers in 1606, who named it New Holland, Australia's eastern half was claimed by Great Britain in 1770 and settled through penal transportation to the colony of New South Wales from 26 January 1788, a date which became Australia's national day; the population grew in subsequent decades, by the 1850s most of the continent had been explored and an additional five self-governing crown colonies established.
On 1 January 1901, the six colonies federated. Australia has since maintained a stable liberal democratic political system that functions as a federal parliamentary constitutional monarchy, comprising six states and ten territories. Being the oldest and driest inhabited continent, with the least fertile soils, Australia has a landmass of 7,617,930 square kilometres. A megadiverse country, its size gives it a wide variety of landscapes, with deserts in the centre, tropical rainforests in the north-east and mountain ranges in the south-east. A gold rush began in Australia in the early 1850s, its population density, 2.8 inhabitants per square kilometre, remains among the lowest in the world. Australia generates its income from various sources including mining-related exports, telecommunications and manufacturing. Indigenous Australian rock art is the oldest and richest in the world, dating as far back as 60,000 years and spread across hundreds of thousands of sites. Australia is a developed country, with the world's 14th-largest economy.
It has a high-income economy, with the world's tenth-highest per capita income. It is a regional power, has the world's 13th-highest military expenditure. Australia has the world's ninth-largest immigrant population, with immigrants accounting for 26% of the population. Having the third-highest human development index and the eighth-highest ranked democracy globally, the country ranks in quality of life, education, economic freedom, civil liberties and political rights, with all its major cities faring well in global comparative livability surveys. Australia is a member of the United Nations, G20, Commonwealth of Nations, ANZUS, Organisation for Economic Co-operation and Development, World Trade Organization, Asia-Pacific Economic Cooperation, Pacific Islands Forum and the ASEAN Plus Six mechanism; the name Australia is derived from the Latin Terra Australis, a name used for a hypothetical continent in the Southern Hemisphere since ancient times. When Europeans first began visiting and mapping Australia in the 17th century, the name Terra Australis was applied to the new territories.
Until the early 19th century, Australia was best known as "New Holland", a name first applied by the Dutch explorer Abel Tasman in 1644 and subsequently anglicised. Terra Australis still saw occasional usage, such as in scientific texts; the name Australia was popularised by the explorer Matthew Flinders, who said it was "more agreeable to the ear, an assimilation to the names of the other great portions of the earth". The first time that Australia appears to have been used was in April 1817, when Governor Lachlan Macquarie acknowledged the receipt of Flinders' charts of Australia from Lord Bathurst. In December 1817, Macquarie recommended to the Colonial Office. In 1824, the Admiralty agreed that the continent should be known by that name; the first official published use of the new name came with the publication in 1830 of The Australia Directory by the Hydrographic Office. Colloquial names for Australia include "Oz" and "the Land Down Under". Other epithets include "the Great Southern Land", "the Lucky Country", "the Sunburnt Country", "the Wide Brown Land".
The latter two both derive from Dorothea Mackellar's 1908 poem "My Country". Human habitation of the Australian continent is estimated to have begun around 65,000 to 70,000 years ago, with the migration of people by land bridges and short sea-crossings from what is now Southeast Asia; these first inhabitants were the ancestors of modern Indigenous Australians. Aboriginal Australian culture is one of the oldest continual civilisations on earth. At the time of first European contact, most Indigenous Australians were hunter-gatherers with complex economies and societies. Recent archaeological finds suggest. Indigenous Australians have an oral culture with spiritual values based on reverence for the land and a belief in the Dreamtime; the Torres Strait Islanders, ethnically Melanesian, obtained their livelihood from seasonal horticulture and the resources of their reefs and seas. The northern coasts and waters of Australia were visited s
The Canadian dollar is the currency of Canada. It is abbreviated with the dollar sign $, or sometimes Can$ or C$ to distinguish it from other dollar-denominated currencies, it is divided into 100 cents. Owing to the image of a loon on the one-dollar coin, the currency is sometimes referred to as the loonie by foreign exchange traders and analysts, as it is by Canadians in general, or huard in French. Accounting for 2% of all global reserves, the Canadian dollar is the fifth most held reserve currency in the world, behind the U. S. dollar, the euro, the yen and the pound sterling. The Canadian dollar is popular with central banks because of Canada's relative economic soundness, the Canadian government's strong sovereign position, the stability of the country's legal and political systems; the 1850s were a decade of wrangling over whether to adopt a sterling monetary system or a decimal monetary system based on the US dollar. The British North American provinces, for reasons of practicality in relation to the increasing trade with the neighbouring United States, had a desire to assimilate their currencies with the American unit, but the imperial authorities in London still preferred sterling as the sole currency throughout the British Empire.
The British North American provinces nonetheless adopted currencies tied to the American dollar. In 1841, the Province of Canada adopted a new system based on the Halifax rating; the new Canadian pound was equal to four US dollars, making one pound sterling equal to 1 pound, 4 shillings, 4 pence Canadian. Thus, the new Canadian pound was worth 5.3 pence sterling. In 1851, the Parliament of the Province of Canada passed an act for the purposes of introducing a pound sterling unit in conjunction with decimal fractional coinage; the idea was that the decimal coins would correspond to exact amounts in relation to the U. S. dollar fractional coinage. In response to British concerns, in 1853 an act of the Parliament of the Province of Canada introduced the gold standard into the colony, based on both the British gold sovereign and the American gold eagle coins; this gold standard was introduced with the gold sovereign being legal tender at £1 = US$4.86 2⁄3. No coinage was provided for under the 1853 act.
Sterling coinage was made legal tender and all other silver coins were demonetized. The British government in principle allowed for a decimal coinage but held out the hope that a sterling unit would be chosen under the name of "royal". However, in 1857, the decision was made to introduce a decimal coinage into the Province of Canada in conjunction with the U. S. dollar unit. Hence, when the new decimal coins were introduced in 1858, the colony's currency became aligned with the U. S. currency, although the British gold sovereign continued to remain legal tender at the rate of £1 = 4.86 2⁄3 right up until the 1990s. In 1859, Canadian colonial postage stamps were issued with decimal denominations for the first time. In 1861, Canadian postage stamps were issued with the denominations shown in cents. In 1860, the colonies of New Brunswick and Nova Scotia followed the Province of Canada in adopting a decimal system based on the U. S. dollar unit. Newfoundland went decimal in 1865, but unlike the Province of Canada, New Brunswick, Nova Scotia, it decided to adopt a unit based on the Spanish dollar rather than on the U.
S. dollar, there was a slight difference between these two units. The U. S. dollar was created in 1792 on the basis of the average weight of a selection of worn Spanish dollars. As such, the Spanish dollar was worth more than the U. S. dollar, the Newfoundland dollar, until 1895, was worth more than the Canadian dollar. The Colony of British Columbia adopted the British Columbia dollar as its currency in 1865, at par with the Canadian dollar; when British Columbia joined Confederation in 1871, the Canadian dollar replaced the British Columbia dollar. In 1871, Prince Edward Island went decimal within the U. S. dollar unit and introduced coins for 1¢. However, the currency of Prince Edward Island was absorbed into the Canadian system shortly afterwards, when Prince Edward Island joined the Dominion of Canada in 1873. In 1867, the provinces of Canada, New Brunswick, Nova Scotia united in a federation named Canada and the three currencies were merged into the Canadian dollar; the Canadian Parliament passed the Uniform Currency Act in April 1871, tying up loose ends as to the currencies of the various provinces and replacing them with a common Canadian dollar.
The gold standard was temporarily abandoned during the First World War and definitively abolished on April 10, 1933. At the outbreak of the Second World War, the exchange rate to the U. S. dollar was fixed at C$1.10 = US$1.00. This was changed to parity in 1946. In 1949, sterling was devalued and Canada followed, returning to a peg of C$1.10 = US$1.00. However, Canada allowed its dollar to float in 1950, whereupon the currency rose to a slight premium over the U. S. dollar for the next decade. But the Canadian dollar fell after 1960 before it was again pegged in 1962 at C$1.00 = US$0.925. This was sometimes pejoratively referred to as the "Diefenbuck" or the "Diefendollar", after the Prime Minister, John Diefenbaker; this peg lasted until 1970. Canadian English, like American English, used the slang term "buck" for a former paper dollar; the Canadian origin of this term derives from a coin struck by the Hudson's Bay Company during the 17th century with a value equal to the pelt of a male beaver – a "buck".
Because of the appearance of the common loon on the back of the $1 coin that replaced the dollar bill in 1987, the word "loonie" was adopted in Canadian parla