1.
Spanish language
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Spanish —also called Castilian —is a Romance language that originated in the Castile region of Spain, with hundreds of millions of native speakers around the world. It is usually considered the worlds second-most spoken native language after Mandarin Chinese and it is one of the few languages to use inverted question and exclamation marks. Spanish is a part of the Ibero-Romance group of languages, which evolved from several dialects of Vulgar Latin in Iberia after the collapse of the Western Roman Empire in the 5th century. Beginning in the early 16th century, Spanish was taken to the colonies of the Spanish Empire, most notably to the Americas, as well as territories in Africa, Oceania, around 75% of modern Spanish is derived from Latin. Greek has also contributed substantially to Spanish vocabulary, especially through Latin, Spanish vocabulary has been in contact from an early date with Arabic, having developed during the Al-Andalus era in the Iberian Peninsula. With around 8% of its vocabulary being Arabic in origin, this language is the second most important influence after Latin and it has also been influenced by Basque as well as by neighboring Ibero-Romance languages. It also adopted words from languages such as Gothic language from the Visigoths in which many Spanish names and surnames have a Visigothic origin. Spanish is one of the six languages of the United Nations. It is the language in the world by the number of people who speak it as a mother tongue, after Mandarin Chinese. It is estimated more than 437 million people speak Spanish as a native language. Spanish is the official or national language in Spain, Equatorial Guinea, speakers in the Americas total some 418 million. In the European Union, Spanish is the tongue of 8% of the population. Spanish is the most popular second language learned in the United States, in 2011 it was estimated by the American Community Survey that of the 55 million Hispanic United States residents who are five years of age and over,38 million speak Spanish at home. The Spanish Constitution of 1978 uses the term castellano to define the language of the whole Spanish State in contrast to las demás lenguas españolas. Article III reads as follows, El castellano es la lengua española oficial del Estado, las demás lenguas españolas serán también oficiales en las respectivas Comunidades Autónomas. Castilian is the official Spanish language of the State, the other Spanish languages as well shall be official in their respective Autonomous Communities. The Spanish Royal Academy, on the hand, currently uses the term español in its publications. Two etymologies for español have been suggested, the Spanish Royal Academy Dictionary derives the term from the Provençal word espaignol, and that in turn from the Medieval Latin word Hispaniolus, from—or pertaining to—Hispania
2.
ISO 4217
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The ISO4217 code list is used in banking and business globally. ISO4217 codes are used on tickets and international train tickets to remove any ambiguity about the price. The first two letters of the code are the two letters of the ISO 3166-1 alpha-2 country codes and the third is usually the initial of the currency itself, so Japans currency code is JPY—JP for Japan and Y for yen. This eliminates the problem caused by the dollar, franc, peso and pound being used in dozens of different countries. Also, if a currency is revalued, the currency codes last letter is changed to distinguish it from the old currency. Other changes can be seen, however, the Russian ruble, for example, changed from RUR to RUB and these currency units are denominated as one troy ounce of the specified metal as opposed to USD1 or EUR1. The code XTS is reserved for use in testing, the code XXX is used to denote a transaction involving no currency. There are also codes specifying certain monetary instruments used in international finance, the codes for most supranational currencies, such as the East Caribbean dollar, the CFP franc, the CFA franc BEAC and the CFA franc BCEAO. The predecessor to the euro, the European Currency Unit, had the code XEU, the use of an initial letter X for these purposes is facilitated by the ISO3166 rule that no official country code beginning with X will ever be assigned. Because of this rule ISO4217 can use X codes without risk of clashing with a country code. ISO3166 country codes beginning with X are used for private custom use, consequently, ISO4217 can use X codes for non-country-specific currencies without risk of clashing with future country codes. The inclusion of EU in the ISO 3166-1 reserved codes list, the ISO4217 standard includes a crude mechanism for expressing the relationship between a major currency unit and its corresponding minor currency unit. This mechanism is called the exponent and assumes a base of 10. For example, USD is equal to 100 of its currency unit the cent. So the USD has exponent 2, the code JPY is given the exponent 0, because its minor unit, the sen, although nominally valued at 1/100 of a yen, is of such negligible value that it is no longer used. Usually, as with the USD, the currency unit has a value that is 1/100 of the major unit, but in some cases 1/1000 is used. Mauritania does not use a decimal division of units, setting 1 ouguiya equal to 5 khoums, some currencies do not have any minor currency unit at all and these are given an exponent of 0, as with currencies whose minor units are unused due to negligible value. There is also a code number assigned to each currency
3.
Currency symbol
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A currency symbol is a graphic symbol used as a shorthand for a currencys name, especially in reference to amounts of money. The European Commission considers the global recognition of the euro sign € part of its success, in 2009, India launched a public competition to replace the ₨ ligature it shared with neighbouring countries. It finalised its new symbol, ₹ on 15 July 2010. It is a blend of the Latin letter R with the Devanagari letter र, when writing currency amounts the location of the symbol varies by currency. Many currencies in the English-speaking world and Latin America, place it before the amount, the Cape Verdean escudo places its symbol in the decimal separator position. The usage of many European countries, such as France, Germany, the decimal separator also follows local countries standards. For instance, the United Kingdom often uses an interpunct as the point on price stickers. Commas or decimal points are common separators used in other countries, see decimal separator for information on international standards. Older currency symbols have evolved slowly, often from previous currencies, the dollar and peso symbols originated from the mark employed to denote the Spanish real de a ocho, whereas the pound and lira symbols evolved from an L standing for libra, a Roman pound of silver. Newly invented currencies and currencies adopting new symbols have symbolism closer to their adopter, the added center bar in the real sign is meant to symbolize stability. The new Indian rupee symbol, ₹, is a combination of Latin. There are also considerations, such as the perception of the business community. For a new symbol to be used, software to render it needs to be promulgated, the EU was criticized for not considering how the euro symbol would need to be customized to work in different fonts. The original design was exceptionally wide. These two factors have led to most typefaces employing customized, font-specific versions, usually with reduced width, List of currencies List of circulating currencies Currency Symbols
4.
Dollar sign
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The dollar sign is a symbol primarily used to indicate the various units of currency around the world. The symbol can interchangeably have one or two vertical strokes, note that the two-stroked version is not the same symbol as the cifrão. In common usage, the sign appears to the left of the amount specified, the best documented explanation holds that the sign evolved out of the Spanish and Spanish American scribal abbreviation pˢ for pesos. A study of late eighteenth- and early nineteenth-century manuscripts shows that the s gradually came to be written over the p, a variation, though less plausible, of this hypothesis derives the sign from a combination of the Greek character psi and S. There are a number of hypotheses about the origin of the symbol, some with a measure of academic acceptance. Kingdom of Sicily Denaro minted in the Kingdom in Sicily at least by 1258–1266 had what could be construed as a dollar symbol. These coins were widely circulated due to the Crusades – and specifically the Crusade that targeted Tunis, several alternative hypotheses relate specifically to the dollar sign drawn with two vertical lines. A common hypothesis holds that the sign derives from the Spanish coat of arms, in 1492, Ferdinand II of Aragon adopted the symbol of the Pillars of Hercules and added the Latin warning Non plus ultra meaning nothing further beyond, indicating this is the end of the world. But when Christopher Columbus came to America, the legend was changed to Plus ultra, the Pillars of Hercules wrapped in a banner thus became a symbol of the New World. In this example the right-hand pillar clearly resembles the dollar sign, the symbol was adopted by Charles V and was part of his coat of arms representing Spains American possessions. The symbol was later stamped on coins minted in gold and silver, the coin, also known as Spanish dollar, was the first global currency used in the entire world since the Spanish Empire was the first global Empire. These coins, depicting the pillars over two hemispheres and a small S-shaped ribbon around each, were spread throughout America, Europe and Asia. According to this, traders wrote signs that, instead of saying Spanish dollar, had this made by hand. When the US got independence from the UK, they created the American dollar, a dollar sign with two vertical lines could have started off as a monogram of USA, used on money bags issued by the United States Mint. The letters U and S superimposed resemble the historical double-stroke dollar sign, robert Morris was such a zealous patriot – known as the Financier of the Revolution in the West – that conjecture does not overstep its bounds in purporting this hypothesis as viable. A similar idea claims that the letters U and S would stand for unit of silver, referencing pieces of eight again, another hypothesis is that it derives from the symbol used on a German Thaler. This refers to the Bible, Numbers, Chapter 21, a similar symbol, constructed by superposition of S and I or J, was used to denote German Joachimsthaler. It was known in the English-speaking world by the 17th century, robert Morris was the first to use that symbol in official documents and in official communications with Oliver Pollock
5.
Chile
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Chile, officially the Republic of Chile, is a South American country occupying a long, narrow strip of land between the Andes to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, Chilean territory includes the Pacific islands of Juan Fernández, Salas y Gómez, Desventuradas, and Easter Island in Oceania. Chile also claims about 1,250,000 square kilometres of Antarctica, the arid Atacama Desert in northern Chile contains great mineral wealth, principally copper. Southern Chile is rich in forests and grazing lands, and features a string of volcanoes and lakes, the southern coast is a labyrinth of fjords, inlets, canals, twisting peninsulas, and islands. Spain conquered and colonized Chile in the century, replacing Inca rule in northern and central Chile. After declaring its independence from Spain in 1818, Chile emerged in the 1830s as a relatively stable authoritarian republic, in the 1960s and 1970s the country experienced severe left-right political polarization and turmoil. The regime, headed by Augusto Pinochet, ended in 1990 after it lost a referendum in 1988 and was succeeded by a coalition which ruled through four presidencies until 2010. Chile is today one of South Americas most stable and prosperous nations and it leads Latin American nations in rankings of human development, competitiveness, income per capita, globalization, state of peace, economic freedom, and low perception of corruption. It also ranks high regionally in sustainability of the state, Chile is a founding member of the United Nations, the Union of South American Nations and the Community of Latin American and Caribbean States. There are various theories about the origin of the word Chile, another theory points to the similarity of the valley of the Aconcagua with that of the Casma Valley in Peru, where there was a town and valley named Chili. Another origin attributed to chilli is the onomatopoeic cheele-cheele—the Mapuche imitation of the warble of a locally known as trile. The Spanish conquistadors heard about this name from the Incas, ultimately, Almagro is credited with the universalization of the name Chile, after naming the Mapocho valley as such. The older spelling Chili was in use in English until at least 1900 before switching over to Chile, stone tool evidence indicates humans sporadically frequented the Monte Verde valley area as long as 18,500 years ago. About 10,000 years ago, migrating Native Americans settled in fertile valleys, settlement sites from very early human habitation include Monte Verde, Cueva del Milodon and the Pali Aike Craters lava tube. They fought against the Sapa Inca Tupac Yupanqui and his army, the result of the bloody three-day confrontation known as the Battle of the Maule was that the Inca conquest of the territories of Chile ended at the Maule river. The next Europeans to reach Chile were Diego de Almagro and his band of Spanish conquistadors, the Spanish encountered various cultures that supported themselves principally through slash-and-burn agriculture and hunting. The conquest of Chile began in earnest in 1540 and was carried out by Pedro de Valdivia, one of Francisco Pizarros lieutenants, who founded the city of Santiago on 12 February 1541. Although the Spanish did not find the gold and silver they sought, they recognized the agricultural potential of Chiles central valley
6.
Central bank
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A central bank, reserve bank, or monetary authority is an institution that manages a states currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries, Central banks in most developed nations are institutionally designed to be independent from political interference. Still, limited control by the executive and legislative bodies usually exists, prior to the 17th century most money was commodity money, typically gold or silver. However, promises to pay were widely circulated and accepted as value at least five hundred years earlier in both Europe and Asia. The Song dynasty was the first to issue generally circulating paper currency, in 1455, in an effort to control inflation, the succeeding Ming Dynasty ended the use of paper money and closed much of Chinese trade. The Bank of Amsterdam, established in the Dutch Republic in 1609, is considered to be the forerunner to modern central banks. The Wisselbanks innovations helped lay the foundations for the birth and development of the banking system that now plays a vital role in the worlds economy. Along with a number of local banks, it performed many functions of a central banking system. Lucien Gillard calls it the European guilder, and Adam Smith devotes many pages to explaining how the bank guilder works, the model of the Wisselbank as a state bank was adapted throughout Europe, including the Bank of Sweden and the Bank of England. Established by Dutch-Latvian Johan Palmstruch in 1668, Sveriges Riksbank is often considered by many as the worlds oldest central bank, the lenders would give the government cash and also issue notes against the government bonds, which could be lent again. A Royal Charter was granted on 27 July through the passage of the Tonnage Act 1694, the bank was given exclusive possession of the governments balances, and was the only limited-liability corporation allowed to issue banknotes. The £1. 2M was raised in 12 days, half of this was used to rebuild the Navy and these modern central banking functions evolved slowly through the 18th and 19th centuries. The currency crisis of 1797, caused by panicked depositors withdrawing from the Bank led to the government suspending convertibility of notes into specie payment. The bank was accused by the bullionists of causing the exchange rate to fall from over issuing banknotes. Nevertheless, it was clear that the Bank was being treated as an organ of the state, henry Thornton, a merchant banker and monetary theorist has been described as the father of the modern central bank. An opponent of the real bills doctrine, he was a defender of the bullionist position, thorntons process of monetary expansion anticipated the theories of Knut Wicksell regarding the cumulative process which restates the Quantity Theory in a theoretically coherent form. Until the mid-nineteenth century, commercial banks were able to issue their own banknotes, many consider the origins of the central bank to lie with the passage of the Bank Charter Act of 1844. Under this law, authorisation to issue new banknotes was restricted to the Bank of England, at the same time, the Bank of England was restricted to issue new banknotes only if they were 100% backed by gold or up to £14 million in government debt
7.
Central Bank of Chile
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The Central Bank of Chile is the central bank of Chile. It was originally created in 1925 and is incorporated into the current Chilean Constitution as an institution of constitutional rank. Its monetary policy is guided by an inflation targeting regime. Starting in the century, private banks started to thrive in Chile, spurring growing concerns over the control of payment methods. To this end, the government hired a mission led by economics professor Edwin Kemmerer of Princeton University, in August 1925, the Central Bank of Chile was created through Decree Law 486, which also established the banks monopoly for issuing bank notes under a gold standard regime. A degree of independence to avoid capture by the public or private sectors was implicit in its board structure. Moreover, it was heightened by a weak institutional framework. Inflation would only be controlled after the introduction of autonomy of constitutional rank in 1989, the CBoC is granted autonomous status by Chile’s National Constitution, in order to secure independence from national authorities, providing credibility and stability beyond the political cycle. To meet these objectives, the CBoC is enabled to use monetary and foreign exchange policy instruments, the CBoC is governed by a Board composed of five members appointed by the president, but ratified by the senate. Each term is ten years long and members are chosen in a staggered way every two years, the president appoints the Governor of the Board from existing members, for the minimum between the chosen member’s remaining term and five years. At least three members need to be present for the board to operate and measures are adopted with the support of the majority of present members. The Minister of Finance also participates in meetings with the right to speak and, unless there is full consensus among board members. The CBoC is Chiles monetary authority and its policy is guided by an inflation targeting regime. Specifically, the CBoC pursues an inflation target of 3%, with a range of 1%. If inflation expectations are diverging from the 3% target or if there are events since the meeting with an anticipated effect in the price level. The monetary policy is carried out through the daily interbank interest rate. 4% and 8. 7% in historical terms, the foreign exchange policy is led by a floating exchange rate, although the bank reserves the right to intervene in the foreign exchange markets. Although unusual, the CBoC has used announced interventions in four occasions since 1999, Chilean peso Economic history of Chile Economy of Chile Ministry of Finance of Chile Official website
8.
Mint (facility)
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A mint is an industrial facility which manufactures coins that can be used in currency. The history of mints correlates closely with the history of coins, in the beginning, hammered coinage or cast coinage were the chief means of coin minting, with resulting production runs numbering as little as the hundreds or thousands. In modern mints, coin dies are manufactured in large numbers, with the mass production of currency, the production cost is weighed when minting coins. For example, it costs the United States Mint much less than 25 cents to make a quarter, metals were well suited to represent wealth, owing to their great intrinsic value and their durability, divisibility and rarity. The first mint was established in Lydia in the 7th century BC, for coining gold, silver. The Lydian innovation of manufacturing coins under the authority of the spread to neighboring Greece. Some of the earliest Greek mints were within city-states on Greek islands such as Crete, at about the same time, coins and mints appeared independently in China and spread to Korea and Japan. The manufacture of coins in the Roman Empire, dating from about the 4th century BC, the origin of the word mint is ascribed to the manufacture of silver coin at Rome in 269 BC at the temple of Juno Moneta. This goddess became the personification of money, and her name was applied both to money and to its place of manufacture, Roman mints were spread widely across the Empire, and were sometimes used for propaganda purposes. The populace often learned of a new Roman Emperor when coins appeared with the new Emperors portrait, Ancient coins were made by casting in moulds or by striking between engraved dies. The Romans cast their larger copper coins in clay moulds carrying distinctive markings, not because they knew nothing of striking, casting is now used only by counterfeiters. The most ancient coins were cast in bulletshaped or conical moulds, the blank or unmarked piece of metal was placed on a small anvil, and the die was held in position with tongs. The reverse or lower side of the received a rectangular mark made by the sharp edges of the little anvil. Subsequently the anvil was marked in ways, and decorated with letters and figures of beasts. The spherical blanks soon gave place to lenticular-shaped ones, the blank was made red-hot and struck between cold dies. One blow was usually insufficient, and the method was similar to that used in striking medals in high relief. With the substitution of iron for bronze as the material for dies, about 300 AD, in the Middle Ages bars of metal were cast and hammered out on an anvil. Portions of the sheets were then cut out with shears
9.
United States dollar
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The United States dollar is the official currency of the United States and its insular territories per the United States Constitution. It is divided into 100 smaller cent units, the circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars. The U. S. dollar was originally commodity money of silver as enacted by the Coinage Act of 1792 which determined the dollar to be 371 4/16 grain pure or 416 grain standard silver, the currency most used in international transactions, it is the worlds primary reserve currency. Several countries use it as their currency, and in many others it is the de facto currency. Besides the United States, it is used as the sole currency in two British Overseas Territories in the Caribbean, the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while the country mints its own coins, or also accepts U. S. coins that can be used as payment in U. S. dollars. After Nixon shock of 1971, USD became fiat currency, Article I, Section 8 of the U. S. Constitution provides that the Congress has the power To coin money, laws implementing this power are currently codified at 31 U. S. C. Section 5112 prescribes the forms in which the United States dollars should be issued and these coins are both designated in Section 5112 as legal tender in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar, the pure silver dollar is known as the American Silver Eagle. Section 5112 also provides for the minting and issuance of other coins and these other coins are more fully described in Coins of the United States dollar. The Constitution provides that a regular Statement and Account of the Receipts and that provision of the Constitution is made specific by Section 331 of Title 31 of the United States Code. The sums of money reported in the Statements are currently being expressed in U. S. dollars, the U. S. dollar may therefore be described as the unit of account of the United States. The word dollar is one of the words in the first paragraph of Section 9 of Article I of the Constitution, there, dollars is a reference to the Spanish milled dollar, a coin that had a monetary value of 8 Spanish units of currency, or reales. In 1792 the U. S. Congress passed a Coinage Act, Section 20 of the act provided, That the money of account of the United States shall be expressed in dollars, or units. And that all accounts in the offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. In other words, this act designated the United States dollar as the unit of currency of the United States, unlike the Spanish milled dollar the U. S. dollar is based upon a decimal system of values. Both one-dollar coins and notes are produced today, although the form is significantly more common
10.
Spanish colonial real
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The silver real was the currency of the Spanish colonies in America and the Philippines. In the seventeenth century the real was established at two billon reals or sixty-eight maravedís. A reform in 1737 set the real at two and half billon reals or eighty-five maravedís. This coin, called the real de plata fuerte, became the new standard, the gold escudo was worth 16 reales de plata fuerte. Coins were produced at mints in Bogotá, Caracas, Guatemala City, Lima, Mexico City, Popayán, Potosí, from 1572 to 1773 Spanish colonial silver coins were cobs. Initially cut from a bar and hammer struck on a coin die, they were accurate in weight. However unlike machined coins, they were irregular in shape. After 1732 similar, but better shaped cobs were produced on screw presses, cob denominations were 1/2,1,2,4, and 8 reales. When circulating in New England the larger coins might be cut to give intermediate values, since a real was nicknamed a bit, unlike in Spain, the copper coins were generally not struck by the colonial mints. Most issued silver coins in denominations of ¼, ½,1,2,4 and 8 reales, currency of Spanish America Peso Spanish dollar Spanish escudo Spanish real Viceroyalty
11.
Chilean peso
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The peso is the currency of Chile. The current peso has circulated since 1975, with a previous version circulating between 1817 and 1960. Its symbol is defined as a letter S with either one or two vertical bars superimposed prefixing the amount, $ or, the symbol, available in most modern text systems, is almost always used. Both of these symbols are used by many currencies, most notably the US dollar, the ISO4217 code for the present peso is CLP. It is officially subdivided into 100 centavos, although there are no current centavo-denominated coins, the exchange rate was around CLP$600 to 1 U. S. dollar at the end of 2014, by August 2015 it fell to 694 per 1 US dollar. The first Chilean peso was introduced in 1817, at a value of 8 Spanish colonial reales, until 1851, the peso was subdivided into 8 reales, with the escudo worth 2 pesos. Also in 1851, the peso was set equal 5 French francs on the sild,22.5 grams pure silver, however, gold coins were issued to a different standard to that of France, with 1 peso =1.37 grams gold. In 1885, a standard was adopted, pegging the peso to the British pound at a rate of 13⅓ pesos =1 pound. This was reduced in 1926 to 40 pesos =1 pound, from 1925, coins and banknotes were issued denominated in cóndores, worth 10 pesos. The gold standard was suspended in 1932 and the pesos value fell further, the escudo replaced the peso on 1 January 1960 at a rate 1 escudo =1000 pesos. Between 1817 and 1851, silver coins were issued in denominations of ¼, ½,1 and 2 reales and 1 peso, in 1835, copper ½ and 1 centavo coins were issued. A full decimal coinage was introduced between 1851 and 1853, consisting of copper ½ and 1 centavo, silver ½ and 1 décimo,20 and 50 centavos, and 1 peso, and gold 5 and 10 pesos. In 1860, gold 1 peso coins were introduced, followed by cupro-nickel ½,1 and 2 centavos between 1870 and 1871, copper coins for these denominations were reintroduced between 1878 and 1883, with copper 2½ centavos added in 1886. A new gold coinage was introduced in 1895, reflecting the lower gold standard, in 1896, the ½ and 1 décimo were replaced by 5 and 10 centavo coins. In 1907, a short-lived, silver 40 centavo coin was introduced following cessation of production of the 50 centavo coin, in 1919, the last of the copper coins were issued. The following year, cu pro-nickel replaced silver in the 5,10 and 20 centavo coins, a final gold coinage was introduced in 1926, in denominations of 20,50 and 100 pesos. In 1927, silver 2 and 5 peso coins were issued, cu pro-nickel 1 peso coins were introduced in 1933, replacing the last of the silver coins. In 1942, copper 20 and 50 centavos and 1 peso coins were introduced, the last coins of the first peso were issued between 1954 and 1959
12.
French franc
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The franc, also commonly distinguished as the French franc, was a currency of France. Between 1450 and 1999, it was the name of coins worth 1 livre tournois and it was revalued in 1960, with each new franc being worth 100 old francs. The French franc was a commonly held reserve currency of reference in the 19th and 20th centuries. The first franc was a gold coin introduced in 1360 to pay the Ransom of King John II of France and this coin secured the kings freedom and showed him on a richly decorated horse earning it the name franc à cheval. The obverse legend, like other French coins, gives the title as Francorum Rex. Its value was set as one livre tournois, john’s son, Charles V, continued this type. It was copied exactly at Brabant and Cambrai and, with the arms on the horse cloth changed, conquests led by Joan of Arc allowed Charles VII to return to sound coinage and he revived the franc à cheval. John II, however, was not able to strike enough francs to pay his ransom, John II died as a prisoner in England and his son, Charles V was left to pick up the pieces. Charles V pursued a policy of reform, including stable coinage, an edict dated 20 April 1365 established the centerpiece of this policy, a gold coin officially called the denier d’or aux fleurs de lis which had a standing figure of the king on its obverse. Its value in money of account was one livre tournois, just like the franc à cheval, in accordance with the theories of the mathematician, economist and royal advisor Nicolas Oresme, Charles struck fewer coins of better gold than his predecessors. In the accompanying deflation both prices and wages fell, but wages fell faster and debtors had to settle up in better money than they had borrowed, the Mayor of Paris, Etienne Marcel, exploited their discontent to lead a revolt which forced Charles V out of the city. The States General which met at Blois in 1577 added to the pressure to stop currency manipulation. Henry III agreed to do this and he revived the franc and this coin and its fractions circulated until 1641 when Louis XIII of France replaced it with the silver Écu. Nevertheless, the franc continued in accounting as a synonym for the livre tournois. The decimal franc was established as the currency by the French Revolutionary Convention in 1795 as a decimal unit of 4.5 g of fine silver. This was slightly less than the livre of 4.505 g, silver coins now had their denomination clearly marked as “5 FRANCS” and it was made obligatory to quote prices in francs. e. Coinage with explicit denominations in decimal fractions of the franc also began in 1795, decimalization of the franc was mandated by an act of 7 April 1795, which also dealt with of weights and measures. France’s first decimal coinage used allegorical figures symbolizing revolutionary principles, like the designs the United States had adopted in 1793
13.
Pound sterling
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It is subdivided into 100 pence. A number of nations that do not use sterling also have called the pound. At various times, the sterling was commodity money or bank notes backed by silver or gold. The pound sterling is the worlds oldest currency still in use, the British Crown dependencies of Guernsey and Jersey produce their own local issues of sterling, the Guernsey pound and the Jersey pound. The pound sterling is also used in the Isle of Man, Gibraltar, the Bank of England is the central bank for the pound sterling, issuing its own coins and banknotes, and regulating issuance of banknotes by private banks in Scotland and Northern Ireland. Sterling is the fourth most-traded currency in the exchange market, after the United States dollar, the euro. Together with those three currencies it forms the basket of currencies which calculate the value of IMF special drawing rights, Sterling is also the third most-held reserve currency in global reserves. The full, official name, pound sterling, is used mainly in formal contexts, otherwise the term pound is normally used. The abbreviations ster. or stg. are sometimes used, the term British pound is commonly used in less formal contexts, although it is not an official name of the currency. The pound sterling is also referred to as cable amongst forex traders, the origins of this term are attributed to the fact that in the 1800s, the dollar/pound sterling exchange rate was transmitted via transatlantic cable. Forex brokers are sometimes referred to as cable dealers, as another established source notes, the compound expression was then derived, silver coins known as sterlings were issued in the Saxon kingdoms,240 of them being minted from a pound of silver. Hence, large payments came to be reckoned in pounds of sterlings, in 1260, Henry III granted them a charter of protection. And because the Leagues money was not frequently debased like that of England, English traders stipulated to be paid in pounds of the Easterlings, and land for their Kontor, the Steelyard of London, which by the 1340s was also called Easterlings Hall, or Esterlingeshalle. For further discussion of the etymology of sterling, see sterling silver, the currency sign for the pound sign is £, which is usually written with a single cross-bar, though a version with a double cross-bar is also sometimes seen. The ISO4217 currency code is GBP, occasionally, the abbreviation UKP is used but this is non-standard because the ISO3166 country code for the United Kingdom is GB. The Crown dependencies use their own codes, GGP, JEP, stocks are often 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, since decimalisation in 1971, the pound has been divided into 100 pence. The symbol for the penny is p, hence an amount such as 50p properly pronounced fifty pence is more colloquially, quite often, pronounced fifty pee /fɪfti, pi and this also helped to distinguish between new and old pence amounts during the changeover to the decimal system
14.
Shilling
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The shilling is a unit of currency formerly used in the United Kingdom, Australia, United States, and other British Commonwealth countries. The word shilling comes from scilling, a term that dates back to Anglo-Saxon times, and from there back to Old Norse. 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 wonders if it is connected with Sir Robert Walpole. One abbreviation for shilling is s, often it was represented by a solidus symbol, which may have originally 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 slash, the solidus symbol is still used for the shilling currency unit in former British East Africa, rather than sh. During the Great Recoinage of 1816, the mint was instructed to coin one troy pound of silver into 66 shillings. This set the weight of the shilling, and its subsequent decimal replacement 5 new pence coin, at 87.2727 grains or 5.655 grams from 1816 until 1990, 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 Kent or a sheep elsewhere, a shilling was a coin used in England from the reign of Henry VII. 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, shillings and pence system, there were 20 shillings per pound and 12 pence per shilling, three coins denominated in multiple shillings were also in circulation at this time. In the Irish Free State and Republic of Ireland the shilling was issued as scilling in Irish and it was worth 1/20th of an Irish pound, and 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, 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 head design was introduced for the coins of King George VI. This design continued until the last year of issue in 1963, in 1966, Australias 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 coin in Australia was deener. The slang term for a shilling as currency unit was bob, 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, in 1967, New Zealands currency was decimalised and the shilling was replaced by a ten cent coin of the same size and weight
15.
Penny
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A penny is a coin or a unit of currency in various countries. Borrowed from the Carolingian denarius, it is usually the smallest denomination within a currency system, presently, it is the formal name of the British penny and the informal name of one American cent as well as the informal Irish designation of 1 cent euro coin. It is the name of the cent unit of account in Canada. The name is used in reference to various historical currencies also derived from the Carolingian system, such as the French denier. It may also be used to refer to any similar smallest-denomination coin. The Carolingian penny was originally a. 940-fine silver coin weighing 1/240 pound, the British penny remained a silver coin until the expense of the Napoleonic Wars prompted the use of base metals in 1797. Despite the decimalization of currencies in the United States and, later, throughout the British Commonwealth, no penny is currently formally subdivided, although farthings, halfpennies, and half cents have previously been minted and the mill remains in use as a unit of account in some contexts. Penny is first attested in a 1394 Scots text, a variant of Old English peni, a development of numerous variations including pennig, penning, and pending. The etymology of the penny is uncertain, although cognates are common across almost all Germanic languages and suggest a base *pan-, *pann-. Recently, it has proposed that it may represent an early borrowing of Punic PN. Following decimalization, the British and Irish coins were marked new penny until 1982 and 1985, the regular plural pennies fell out of use in England from the 16th century, except in reference to coins considered individually. The informal name for the American cent seems to have spread from New York, in British English, prior to decimalization, values from two to eleven pence and of twenty pence are often written and spoken as a single word, as twopence, threepence, &c. Where a single coin represented a number of pence, it was treated as a single noun, thus, a threepence would be single coin of that value whereas three pence would be its value and three pennies would be three penny coins. In British English, divisions of a penny were added to such combinations without a conjunction, as sixpence-farthing, adjectival use of such coins used the ending -penny, as sixpenny. The British abbreviation d. derived from the Latin denarius and it followed the amount after a space. It has been replaced since decimalization by p, usually written without a space or period, from this abbreviation, it is common to speak of pennies and values in pence as p. In North America, it is common to abbreviate cents with the currency symbol ¢, elsewhere, it is usually written with a simple c. The medieval silver penny was modeled on similar coins in antiquity, such as the Greek drachma, the Carthaginian shekel, forms of these seem to have reached as far as Norway and Sweden
16.
Cupro-nickel
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Cupronickel is an alloy of copper that contains nickel and strengthening elements, such as iron and manganese. Despite its high content, cupronickel is silver in colour. Cupronickel is highly resistant to corrosion in seawater because its potential is adjusted to be neutral with regard to seawater. Another common use of cupronickel is in silver-coloured modern-circulated coins, a typical mix is 75% copper, 25% nickel, and a trace amount of manganese. In the past, true silver coins were debased with cupronickel, Cupronickel alloys are used for marine applications due to their resistance to seawater corrosion, good fabricability, and their effectiveness in lowering macrofouling levels. Alloys ranging in composition from 90% Cu–10% Ni to 70% Cu–30% Ni are commonly specified in heat exchanger or condenser tubes in a variety of marine applications. Desalination plants, Cupronickel alloys are used in brine heaters, heat rejection and recovery, offshore oil and gas platforms and processing and FPSO vessels, Cupronickel alloys are used in systems and splash zone sheathings. Power generation, Cupronickel alloys are used in steam turbine condensers, oil coolers, auxiliary cooling systems and high pressure pre-heaters at nuclear, seawater system design, Cupronickel alloys are used in tubular heat exchangers and condensers, piping and high pressure systems. Seawater system components, Cupronickel alloys are used in condenser and heat exchanger tubes, tubesheets, piping, fittings, pumps, in Europe, Switzerland pioneered the nickel billon coinage in 1850, with the addition of silver. In 1968, Switzerland adopted the far cheaper 75,25 copper to nickel ratio then being used by the Belgians, the United States, and Germany. From 1947 to 2012, all “silver” coinage in the UK was made from cupronickel, prior to these dates, both denominations had been made only in silver in the United States. Cupronickel is the cladding on either side of United States half-dollars since 1971, currently, some circulating coins, such as the United States Jefferson nickel, the Swiss franc, and the South Korean 500 and 100 won are made of solid cupronickel. Single-core thermocouple cables use a single pair of thermocouple conductors such as iron-constantan. These have the element of constantan or nickel-chromium alloy within a sheath of copper. Cupronickel is used in cryogenic applications, beginning around the turn of the 20th century, bullet jackets were commonly made from this material. It was soon replaced with gilding metal to reduce fouling in the bore. Currently, cupronickel remains the basic material for silver-plated cutlery and it is commonly used for mechanical and electrical equipment, medical equipment, zippers, jewelry items, and as material for strings for string instruments. Fender Musical Instruments used CuNiFe magnets in their Wide Range Humbucker pickup for various Telecaster and Starcaster guitars during the 1970s, for high-quality cylinder locks and locking systems, cylinder cores are made from wear-resistant cupronickel
17.
Government Junta of Chile (1973)
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It was the executive and legislative branch of government until December 17,1974. After that date, it functioned strictly as a body until the return to democracy in 1990. On September 11,1973, the day of the coup, the judicial branch continued to operate under the Junta, and nominally had jurisdiction over its repressive activities, but rarely interfered. Once the Junta was in power, General Pinochet soon consolidated his control, since he was the commander-in-chief of the oldest branch of the military forces, he was made the head of the military junta. This position was originally to be rotated among the four branches and he began by retaining sole chairmanship of the junta as Supreme Chief of the Nation from June 27,1974 until December 17,1974 when he was proclaimed President. General Pinochet took over as President, following a plebiscite that approved a new constitution. On March 11,1981, he resigned his position in the Junta, and was replaced by the most senior General officer from the Army, who was nominated by himself. After that date, the Junta remained only as a body under the presidency of Admiral Merino. He was replaced by General Fernando Matthei, in 1985, three communists were found with their throats slit by the side of a road. The guilty party turned out to be the Carabineros secret service, immediately after the coup the junta moved to crush their left-wing opposition. In addition to pursuing armed revolutionary groups it embarked on a campaign against opponents, as a result, according to the Rettig Commission, approximately 3,000 people are known to have been killed,27,000 were incarcerated and in a great many cases tortured. 1973 Chilean coup détat Military dictatorship History of Chile List of Government Juntas of Chile
18.
Bernardo O'Higgins
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Bernardo OHiggins Riquelme was a Chilean independence leader who freed Chile from Spanish rule in the Chilean War of Independence. He was a landowner of Spanish and Irish ancestry. Although he was the second Supreme Director of Chile, he is considered one of Chiles founding fathers and his mother was Isabel Riquelme, a prominent local, the daughter of Don Simón Riquelme y Goycolea, a member of the Chillán Cabildo, or council. OHiggins spent his years with his mothers family in central-southern Chile, and later he lived with the Albano family. At age 15, OHiggins was sent to Lima by his father and he had a distant relationship with Ambrosio, who supported him financially and was concerned with his education, but the two never met in person. At the time of his sons birth, Ambrosio was only a military officer. Two years later, Isabel married Don Félix Rodríguez, a friend of her father, OHiggins used his mothers surname until the death of his father in 1801. Bernardos father continued his rise and became Viceroy of Peru. There, studying history and the arts, OHiggins became acquainted with American ideas of independence and he met Francisco de Miranda, a Venezuelan idealist and believer in independence, and joined a Masonic Lodge established by Miranda, dedicated to achieving the independence of Latin America. In 1798 OHiggins went to Spain from Great Britain, his return to the Americas delayed by the French Revolutionary Wars and his father died in 1801, leaving OHiggins a large piece of land, the Hacienda Las Canteras, near the Chilean city of Los Ángeles. OHiggins returned to Chile in 1802, adopted his fathers surname. In 1806, he was appointed to the cabildo as the representative of Laja, in 1808 Napoleon took control of Spain, triggering a sequence of events in South America. On 18 September 1810, OHiggins joined the revolt against the now French dominated Spanish government and this date is now recognized as Chiles Independence Day. OHiggins was a friend of Juan Martínez de Rozas, an old friend of his father. OHiggins strongly recommended that a national congress be created, and was elected a deputy to the first National Congress of Chile in 1811 as a representative of the Laja district. Tensions between the royalist and increasingly pro-independence factions, to which OHiggins remained attached as a junior member, the anti-Royalist camp in Chile was deeply split along lines of patronage and personality, by political beliefs, and by geography. José Miguel Carrera, the most prominent member of the Carrera family, enjoyed a power base in Santiago, that of de Rozas, and later OHiggins, lay in Concepción. As a result, OHiggins was to find himself increasingly in political and military competition with Carrera—although early on, de Rozas initially appointed OHiggins to a minor military position in 1812, possibly because of his illegitimate origins, poor health, or lack of military training
19.
Mapuche
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The Mapuche are a group of indigenous inhabitants of south-central Chile and southwestern Argentina, including parts of present-day Patagonia. Their influence once extended from the Aconcagua River to the Chiloé Archipelago, today the collective group makes up over 80% of the indigenous peoples in Chile, and about 9% of the total Chilean population. They are particularly concentrated in Araucanía, many have migrated to the Santiago area for economic opportunities. The Mapuchen is used both to refer collectively to the Picunche, Huilliche and Moluche or Nguluche from Araucanía, or at other times, the Mapuche traditional economy is based on agriculture, their traditional social organisation consists of extended families, under the direction of a lonko or chief. In times of war, they would unite in larger groupings and they are known for the textiles woven by women, which have been goods for trade for centuries, since before European encounter. The Araucanian Mapuche inhabited at the time of Spanish arrival the valleys between the Itata and Toltén rivers, South of it, the Huilliche and the Cunco lived as far south as the Chiloé Archipelago. In the 17th, 18th and 19th centuries, Mapuche groups migrated eastward into the Andes and pampas, fusing and establishing relationships with the Poya and Pehuenche. At about the time, ethnic groups of the pampa regions. The Tehuelche adopted the Mapuche language and some of their culture, historically the Spanish colonizers of South America referred to the Mapuche people as Araucanians. However, this term is now considered pejorative by some people, the name was likely derived from the placename rag ko, meaning clayey water. The Quechua word awqa, meaning rebel, enemy, is not the root of araucano. Some Mapuche mingled with Spanish during colonial times, and their descendants make up the group of mestizos in Chile. But, Mapuche society in Araucanía and Patagonia remained independent until the Chilean Occupation of Araucanía, since then Mapuches have become subjects, and then nationals and citizens of the respective states. Today, many Mapuche and Mapuche communities are engaged in the so-called Mapuche conflict over land, archaeological finds have shown the existence of a Mapuche culture in Chile and Argentina as early as 600 to 500 BC. Genetically Mapuches differ from the adjacent indigenous peoples of Patagonia and this suggests a different origin or long lasting separation of Mapuche and Patagonian populations. Troops of the Inca Empire are reported to have reached the Maule River and had a battle with the Mapuches between the Maule River and the Itata River there. The southern border of the Inca Empire is believed by most modern scholars to have been situated between Santiago and the Maipo River or somewhere between Santiago and the Maule River, thus the bulk of the Mapuche escaped Inca rule. Through their contact with Incan invaders Mapuches would have for the first time met people with state organization and their contact with the Incas gave them a collective awareness distinguishing between them and the invaders and uniting them into loose geo-political units despite their lack of state organization
20.
Polymer banknote
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Polymer banknotes are banknotes made from a polymer such as biaxially oriented polypropylene. Such notes incorporate many security features not available in paper banknotes, polymer banknotes last significantly longer than paper notes, causing a decrease in environmental impact and a reduced cost of production and replacement. Modern polymer banknotes were first developed by the Reserve Bank of Australia, Commonwealth Scientific and Industrial Research Organisation and they were first issued as currency in Australia during 1988. In 1996 Australia switched completely to polymer banknotes, other countries that have switched completely to polymer banknotes include, Brunei, Canada, New Zealand, Papua New Guinea, Romania, Kuwait and Vietnam. The latest countries to introduce polymer banknotes into circulation include, the United Kingdom, Cape Verde, Chile, The Gambia, Nicaragua, Trinidad and Tobago, Republic of Maldives and Nepal. In 1968 the RBA started collaborations with CSIRO, and funds were available in 1969 for the experimental production of distinctive papers. The insertion into banknotes of an optically variable device created from diffraction gratings in plastic as a security device was proposed in 1972, the first patent arising from the development of polymer banknotes was filed in 1973. An alternative polymer of polyethylene fibres, marketed as Tyvek by DuPont, was developed for use as currency by the American Bank Note Company in the early 1980s, Tyvek did not perform well in trials, smudging of ink and fragility were reported as problems. Only Costa Rica and Haiti issued Tyvek banknotes, test notes were produced for Ecuador, El Salvador, Honduras and Venezuela but never placed in circulation. Additionally, English printers Bradbury Wilkinson produced a version on Tyvek but marketed as Bradvek for the Isle of Man in 1983, however, in the 1980s, Canadian engineering company AGRA Vadeko and US chemical company US Mobil Chemical Company developed a polymer substrate trademarked as DuraNote. It had been tested by the Bank of Canada in the 1980s and 1990s, test $20, polymer banknotes were developed in Australia to replace paper banknotes with a more secure and more durable alternative. BOPP is a non-fibrous and non-porous polymer, polymer banknotes usually have three levels of security devices. Primary security devices are easily recognisable by consumers and may include intaglio, metal strips, secondary security devices are detectable by a machine. Tertiary security devices may only be detectable by the issuing authority when a banknote is returned, trading as Innovia Security, Innovia Films markets BOPP as Guardian for countries with their own banknote printing facilities. Note Printing Australia prints commemorative banknotes and banknotes for circulation, and has done so for 20 countries, as of 2014, at least seven countries have converted fully to polymer banknotes, Australia, Brunei, Canada, New Zealand, Papua New Guinea, Romania and Vietnam. Countries and regions that have issued commemorative banknotes on Guardian polymer include, China, Taiwan, Northern Ireland, however, President Goodluck Jonathan halted the process in September 2012. The polymer notes in the Republic of Mauritius are available in values of Rs 25, Rs 50, the Fiji $5 was issued in April 2013. In the United Kingdom, the first polymer banknotes were issued by the Northern Bank in Northern Ireland in 2000, in March 2015, the Clydesdale Bank in Scotland began to issue polymer Sterling £5 notes marking the 125th anniversary of the building of the Forth Bridge
21.
Gabriela Mistral
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Gabriela Mistral was the pseudonym of Lucila Godoy y Alcayaga, a Chilean poet-diplomat, educator and humanist. Her portrait also appears on the 5,000 Chilean peso bank note, Mistral was born in Vicuña, Chile, but was raised in the small Andean village of Montegrande, where she attended a primary school taught by her older sister, Emelina Molina. She respected her sister greatly, despite the financial problems that Emelina brought her in later years. Her father, Juan Gerónimo Godoy Villanueva, was also a schoolteacher and he abandoned the family before she was three years old, and died, long since estranged from the family, in 1911. Throughout her early years she was never far from poverty, by age fifteen, she was supporting herself and her mother, Petronila Alcayaga, a seamstress, by working as a teachers aide in the seaside town of Compañia Baja, near La Serena, Chile. Probably in about 1906, while working as a teacher, Mistral met Romelio Ureta, a railway worker, who killed himself in 1909. The profound effects of death were already in the work, writing about his suicide led the poet to consider death. While Mistral had passionate friendships with men and women. She had been using the pen name Gabriela Mistral since June 1908 for much of her writing, after winning the Juegos Florales she infrequently used her given name of Lucila Godoy for her publications. Mistrals meteoric rise in Chiles national school system plays out against the politics of Chile in the first two decades of the 20th century. In her adolescence, the need for teachers was so great, and the number of trained teachers was so small, especially in the rural areas, the poet was able to rise from one post to another because of her publications in local and national newspapers and magazines. Her willingness to move was also a factor, between the years 1906 and 1912 she had taught, successively, in three schools near La Serena, then in Barrancas, then Traiguén in 1910, and in Antofagasta in the desert north, in 1911. By 1912 she had moved to work in a liceo, or high school, in Los Andes, in 1918 Pedro Aguirre Cerda, then Minister of Education, and a future president of Chile, promoted her appointment to direct a liceo in Punta Arenas. He had her join in the plan to reform libraries and schools. That year she published Desolación in New York, which promoted the international acclaim she had already been receiving thanks to her journalism. A year later she published Lecturas para Mujeres, a text in prose and verse that celebrates Latin America from the broad, following almost two years in Mexico she traveled from Laredo, Texas to Washington D. C. In early 1925 she returned to Chile, where she retired from the nations education system. The University of Chile had granted her the title of Spanish Professor in 1923
22.
Arturo Prat
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Agustín Arturo Prat Chacón was a Chilean lawyer and navy officer. He was killed shortly after boarding the Peruvian armored monitor Huáscar at the Naval Battle of Iquique after the ship under his command, Prat, as captain of the Esmeralda, was the first to board the Huáscar. During his career, Prat had taken part in naval engagements, including battles at Papudo. Following his death, his became an rallying cry for Chilean forces. Prats name is commemorated on numerous plazas, streets, buildings, one of Chiles Antarctic research facilities, Arturo Prat Station, and the Chilean Naval Academy, Escuela Naval Arturo Prat are named after him. His portrait appears on the 10,000 Chilean peso bank note, also, in 1984 Arturo Prat University was founded, with its main campus in Iquique where his heroic deed took place. Prat, the oldest of five brothers, son of Agustín Prat del Barril, the name Prat is of Catalan origin. He entered the Naval Academy on August 28,1858 at the age of 10 years thanks to one of the created by President Manuel Montt. There were two scholarships per province, one for Arauco went to Prat, and the other went to Luis Uribe, both had the same benefactor, Don Jacinto Chacón, resulting in the two youths considering each other as brothers. At the time, the academy was directed by the Frenchman Juan Julio Feillet and was backed by another Frenchman, young Arturo and his friend Luis were part of the so-called class of the heroes including Carlos Condell, Juan José Latorre, and Jorge Montt Álvarez. During his first year, Prat was often distracted and struggled in his studies, nevertheless, just as he had in his previous school, he overcame these difficulties and went on to win a silver medal for his accomplishments. In 1859, his year as a cadet, he commenced a nautical apprenticeship – a requirement for second-year students. His first voyage of training was completed in the steamer Independencia, with sail and rigging maneuvers, followed later by practice in seamanship, in January 1860, Arturo Prat boarded, for the first time, the Esmeralda, the ship which would be the scene of his glory. His nautical apprenticeship continued, embarkation and disembarkation, combat simulation, in July 1861, he left the Naval Academy as primera antigüedad. He obtained the grade of midshipman without examination, during this period, Prat distinguished himself in an incident involving the Infernal, a French ship that was carrying explosive materials. On October 1,1861, it caught on fire while in the Bay of Valparaíso, the Esmeralda, which was nearby, sent boats to save the wreck, one of which was steered by Arturo Prat, who would struggle for two hours against the fire. On July 21,1864, Prat passed with flying colors the theoretical and practical test needed to be promoted from midshipman without exam to examined midshipman. That year saw the incidents resulted in the war against Spain
23.
Exchange-rate regime
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An exchange-rate regime is the way an authority manages its currency in relation to other currencies and the foreign exchange market. It is closely related to policy and the two are generally dependent on many of the same factors. S. Dollar or the euro or a basket of currencies, floating rates are the most common exchange rate regime today. For example, the dollar, euro, yen, and British pound all are floating currencies, however, since central banks frequently intervene to avoid excessive appreciation or depreciation, these regimes are often called managed float or a dirty float. Pegged floating currencies are pegged to some band or value, either fixed or periodically adjusted, during the 1950s and most of the 1960s, for example, the United States pegged the dollar to gold, and most other countries had pegged their currencies to the dollar. The U. S. government would buy or sell gold at $35 and this is done at an unannounced rate or in a controlled way following economic indicators. Crawling pegs The rate itself is fixed, and adjusted as above, pegged with horizontal bands The rate is allowed to fluctuate in a fixed band around a central rate. One version of the pegged with horizontal bands is E. Ray Canterberys delayed peg, fluctuations occur within a 2 percent band, sufficiently wide to allow some trade adjustments and considerable short-term capital flows, but narrow enough to avoid unusually large fluctuations. The wide bank is allowed to move in the case of official foreign exchange losses. Chinas current floating band is essentially a delayed peg, fixed rates are those that have direct convertibility towards another currency. In case of a currency, also known as a currency board arrangement. A pegged currency with small bands and countries that have adopted another countrys currency. Dollarization occurs when the inhabitants of a country use foreign currency in parallel to or instead of the domestic currency, the term is not only applied to usage of the United States dollar, but generally to the use of any foreign currency as the national currency. Zimbabwe is an example of dollarization since the collapse of the Zimbabwean dollar, european Exchange Rate Mechanism Edwards, Sebastian & Levy Yeyati, Eduardo Flexible Exchange Rates as Shock Absorbers, NBER Working Papers 9867, National Bureau of Economic Research, Inc. Kiguel, Andrea & Levy Yeyati, Eduardo Back to 2007, tiwari, Rajnish, Post-Crisis Exchange Rate Regimes in Southeast Asia, Seminar Paper, University of Hamburg. Levy-Yeyati, Eduardo & Sturzenegger, Federico & Reggio, Iliana On the Endogeneity of Exchange Rate Regimes, Working Paper Series rwp06-047, Harvard University, John F. Kennedy School of Government. „Exchange Rate and Inflation, France and Bulgaria in the interwar period“. International Center for Economic Research Working Paper, Torino, N, G. Pavanelli and Dimitrova, K. Rate Control in Italy and Bulgaria in the Interwar Period, History and Prospectives“
24.
Crisis of 1982
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The Crisis of 1982 was a major economic crisis suffered in Chile. The crisis took place during the time of the Chilean military dictatorship following years of neoliberal reforms. The 1982 crisis was the worst economic crisis in Chile since the 1930s, the GDP of Chile retracted 14. 3% and unemployment rose to 23. 7%. After the socialist presidency of Salvador Allende, and following the 1973 coup the Chicago boys implemented the neoliberal economical policies outlined in El ladrillo, in 1979 however, Chile decided to depart from the neoliberal principle of free floating exchange rates, with disastrous results. The lead up to the 1982 crisis can be traced to the overvalue of the Chilean peso and this would have hampered investment in productive activities. In fact in the 1977—1982 period much of the spending in Chile consisted in consuming goods, from 1973 to 1982 Chiles external debt rose from 3500 to over 17 billion dollars. In agriculture the entrance of speculative capital in the period lead to the bankruptcy of several processing companies. IANSA, a company that belonged to the state before privatization. The financial societies of Compañía General, Cash, Capitales and del Sur were also bailed out, Banco de Talca and Banco Español Chile were nationalized removing the management and wresting ownership from shareholders, later these two banks were re-privatized. On January 13,1983, the government made a massive bank intervention, bailing out five banks, all sectors of Chilean agriculture except fruit export and forestry contracted during the crisis but recovery was fast after 1984. Farm bankruptcies in Chile was overall high in the 1979-1983 period peaking in 1983, the crisis has been credited of beginning, despite severe repression, a wave of protest all over Chile against the dictatorship. In the years following the crisis the economic policy of the changed to include price bands for some foodstuffs. Supporters of the policy of the military dictatorship have argued that the crisis was born outside Chile. Historians Gabriel Salazar and Julio Pinto have countered that this kind of crisis are inherent weaknesses of the neoliberal model, in contrast, economist Milton Friedman blames precisely the departure from the neoliberal model and political intervention which a fixed exchange rate is. He argues that the 1982 crises as well as the success of the economic policy after 1982 proves that the 1973-1981 radical economic policy of the Chicago boys harmed the Chilean economy
25.
Argentina
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Argentina, officially the Argentine Republic, is a federal republic in the southern half of South America. With a mainland area of 2,780,400 km2, Argentina is the eighth-largest country in the world, the second largest in Latin America, and the largest Spanish-speaking one. The country is subdivided into provinces and one autonomous city, Buenos Aires. The provinces and the capital have their own constitutions, but exist under a federal system, Argentina claims sovereignty over part of Antarctica, the Falkland Islands, and South Georgia and the South Sandwich Islands. The earliest recorded presence in the area of modern-day Argentina dates back to the Paleolithic period. The country has its roots in Spanish colonization of the region during the 16th century, Argentina rose as the successor state of the Viceroyalty of the Río de la Plata, a Spanish overseas viceroyalty founded in 1776. The country thereafter enjoyed relative peace and stability, with waves of European immigration radically reshaping its cultural. The almost-unparalleled increase in prosperity led to Argentina becoming the seventh wealthiest developed nation in the world by the early 20th century, Argentina retains its historic status as a middle power in international affairs, and is a prominent regional power in the Southern Cone and Latin America. Argentina has the second largest economy in South America, the third-largest in Latin America and is a member of the G-15 and it is the country with the second highest Human Development Index in Latin America with a rating of very high. Because of its stability, market size and growing high-tech sector, the description of the country by the word Argentina has to be found on a Venice map in 1536. In English the name Argentina probably comes from the Spanish language, however the naming itself is not Spanish, Argentina means in Italian of silver, silver coloured, probably borrowed from the Old French adjective argentine of silver > silver coloured already mentioned in the 12th century. The French word argentine is the form of argentin and derives of argent silver with the suffix -in. The Italian naming Argentina for the country implies Argentina Terra land of silver or Argentina costa coast of silver, in Italian, the adjective or the proper noun is often used in an autonomous way as a substantive and replaces it and it is said lArgentina. The name Argentina was probably first given by the Venitian and Genoese navigators, in Spanish and Portuguese, the words for silver are respectively plata and prata and of silver is said plateado and prateado. Argentina was first associated with the silver mountains legend, widespread among the first European explorers of the La Plata Basin. The first written use of the name in Spanish can be traced to La Argentina, a 1602 poem by Martín del Barco Centenera describing the region, the 1826 constitution included the first use of the name Argentine Republic in legal documents. The name Argentine Confederation was also used and was formalized in the Argentine Constitution of 1853. In 1860 a presidential decree settled the name as Argentine Republic
26.
September 11 attacks
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The September 11 attacks were a series of four coordinated terrorist attacks by the Islamic terrorist group al-Qaeda on the United States on the morning of Tuesday, September 11,2001. The attacks killed 2,996 people, injured over 6,000 others, two of the planes, American Airlines Flight 11 and United Airlines Flight 175, were crashed into the North and South towers, respectively, of the World Trade Center complex in New York City. A third plane, American Airlines Flight 77, was crashed into the Pentagon in Arlington County, Virginia and it was the deadliest incident for firefighters and law enforcement officers in the history of the United States, with 343 and 72 killed respectively. Suspicion for the attack fell on al-Qaeda. The United States responded to the attacks by launching the War on Terror and invading Afghanistan to depose the Taliban, many countries strengthened their anti-terrorism legislation and expanded the powers of law enforcement and intelligence agencies to prevent terrorist attacks. Although al-Qaedas leader, Osama bin Laden, initially denied any involvement, al-Qaeda and bin Laden cited U. S. support of Israel, the presence of U. S. troops in Saudi Arabia, and sanctions against Iraq as motives. Having evaded capture for almost a decade, bin Laden was located and killed by SEAL Team Six of the U. S. Navy in May 2011. S. many closings, evacuations, and cancellations followed, out of respect or fear of further attacks. Cleanup of the World Trade Center site was completed in May 2002, on November 18,2006, construction of One World Trade Center began at the World Trade Center site. The building was opened on November 3,2014. The origins of al-Qaeda can be traced to 1979 when the Soviet Union invaded Afghanistan, Osama bin Laden traveled to Afghanistan and helped organize Arab mujahideen to resist the Soviets. Under the guidance of Ayman al-Zawahiri, bin Laden became more radical, in 1996, bin Laden issued his first fatwā, calling for American soldiers to leave Saudi Arabia. Bin Laden used Islamic texts to exhort Muslims to attack Americans until the stated grievances are reversed, Muslim legal scholars have throughout Islamic history unanimously agreed that the jihad is an individual duty if the enemy destroys the Muslim countries, according to bin Laden. Bin Laden, who orchestrated the attacks, initially denied but later admitted involvement, in November 2001, U. S. forces recovered a videotape from a destroyed house in Jalalabad, Afghanistan. In the video, bin Laden is seen talking to Khaled al-Harbi, on December 27,2001, a second bin Laden video was released. In the video, he said, It has become clear that the West in general and it is the hatred of crusaders. Terrorism against America deserves to be praised because it was a response to injustice, aimed at forcing America to stop its support for Israel, the transcript refers several times to the United States specifically targeting Muslims. He said that the attacks were carried out because, we are free, and want to regain freedom for our nation. As you undermine our security we undermine yours, Bin Laden said he had personally directed his followers to attack the World Trade Center and the Pentagon
27.
Brazil
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Brazil, officially the Federative Republic of Brazil, is the largest country in both South America and Latin America. As the worlds fifth-largest country by area and population, it is the largest country to have Portuguese as an official language. Its Amazon River basin includes a vast tropical forest, home to wildlife, a variety of ecological systems. This unique environmental heritage makes Brazil one of 17 megadiverse countries, Brazil was inhabited by numerous tribal nations prior to the landing in 1500 of explorer Pedro Álvares Cabral, who claimed the area for the Portuguese Empire. Brazil remained a Portuguese colony until 1808, when the capital of the empire was transferred from Lisbon to Rio de Janeiro, in 1815, the colony was elevated to the rank of kingdom upon the formation of the United Kingdom of Portugal, Brazil and the Algarves. Independence was achieved in 1822 with the creation of the Empire of Brazil, a state governed under a constitutional monarchy. The ratification of the first constitution in 1824 led to the formation of a bicameral legislature, the country became a presidential republic in 1889 following a military coup détat. An authoritarian military junta came to power in 1964 and ruled until 1985, Brazils current constitution, formulated in 1988, defines it as a democratic federal republic. The federation is composed of the union of the Federal District, the 26 states, Brazils economy is the worlds ninth-largest by nominal GDP and seventh-largest by GDP as of 2015. A member of the BRICS group, Brazil until 2010 had one of the worlds fastest growing economies, with its economic reforms giving the country new international recognition. Brazils national development bank plays an important role for the economic growth. Brazil is a member of the United Nations, the G20, BRICS, Unasul, Mercosul, Organization of American States, Organization of Ibero-American States, CPLP. Brazil is a power in Latin America and a middle power in international affairs. One of the worlds major breadbaskets, Brazil has been the largest producer of coffee for the last 150 years and it is likely that the word Brazil comes from the Portuguese word for brazilwood, a tree that once grew plentifully along the Brazilian coast. In Portuguese, brazilwood is called pau-brasil, with the word brasil commonly given the etymology red like an ember, formed from Latin brasa and the suffix -il. As brazilwood produces a red dye, it was highly valued by the European cloth industry and was the earliest commercially exploited product from Brazil. The popular appellation eclipsed and eventually supplanted the official Portuguese name, early sailors sometimes also called it the Land of Parrots. In the Guarani language, a language of Paraguay, Brazil is called Pindorama
28.
Economy of Chile
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Although Chile has high economic inequality, as measured by the Gini index, it is close to the regional mean. In 2006, Chile became the country with the highest nominal GDP per capita in Latin America, in May 2010 Chile became the first South American country to join the OECD. Tax revenues, all together 20. 2% of GDP in 2013, were the second lowest among the 34 OECD countries, and the lowest in 2010. Chile has a human development index of 0.661, compared to 0.662,0.680 and 0.542 for neighboring Uruguay, Argentina and Brazil. In 2008, only 2. 7% of the population lived on less than US $2 a day. The ease of doing business index, created by the World Bank, listed Chile as 34th in the world as of 2014, 41st for 2015, the privatized national pension system has encouraged domestic investment and contributed to an estimated total domestic savings rate of approximately 21% of GDP. After Spanish arrival in the 15th century Chilean economy came to revolve around autarchy estates called fundos, during early colonial times there were gold exports to Perú from placer deposits which soon depleted. Trade restrictions and monopolies established by the Spanish crown are credited for having held back development for much of the colonial times. As effect of these restrictions the country incorporated very few new crops, other sectors that were held back by restrictions were the wine and mining industries. The Bourbon reforms in the 18th century eased many monopolies and trade restrictions, in the 1830s Chile consolidated under the ideas of Diego Portales as a stable state open to foreign trade. Foreign investment in Chile grew over the 19th century, after the War of the Pacific the Chilean treasury grew by 900%. The League of Nations labeled Chile the country hardest hit by the Great Depression because 80% of government revenue came from exports of copper and nitrates, after the Great Depression Chilean economic policies changed toward import substitution industrialization and the Production Development Corporation was established. Under the influence of the Chicago Boys the Pinochet regime made of Chile a leading country in establishing neoliberal policies and these policies allowed large corporations to consolidate their power over the Chilean economy, leading to increases in unemployment and real wages whilst failing to achieve long-term economic growth. Income inequality, which had fallen during the presidency of socialist Salvador Allende, the crisis of 1982 caused the appointment of Hernán Büchi as minister of finance and a sharp revision of economic policy. Chiles economy has recovered and has seen growth rates of 5–7% over the past several years. The economy remained sluggish until 2003, when it began to show signs of recovery. The Chilean economy finished 2004 with growth of 6. 0%, real GDP growth reached 5. 7% in 2005 before falling back to 4. 0% in 2006. GDP expanded by 5. 1% in 2007, during 2012, the largest sectors by GDP were mining, business services, personal services, manufacturing and wholesale and retail trade
29.
Standard Catalog of World Coins
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The Standard Catalog of World Coins is a series of numismatic catalogs, commonly known as the Krause catalogs. They are published by Krause Publications, a division of F+W Media, the by-century volumes list by date virtually every coin type, most of which are photographed, with mintage and other information, plus market valuations in up to 5 grades. Listings are by denomination rather than series, as in earlier World coin catalogs, the proprietary Krause-Mishler numbers are widely used, for just a few countries earlier systems such as Y and C numbers are given instead. The century format is considered inconvenient and expensive for those who collect geographically. Originally covering 1835 or so to date, the main catalog evolved into an annual 20th century-only work, plus separate 17th, 18th, beginning with the 34th ed, listings covering 2001 to date are included in a separate 21st Century catalog. Data from the volumes are collated together in special editions for Crowns, Gold, German. Fantasies and medallion issues, which do not appear in the catalogs, are covered in a publication called Unusual World Coins. There is also a publication called Collecting World Coins that includes only 20th-, list priced at $73 to $85 they are often discounted, and can be found in many public libraries. Older editions are steeply discounted even though revisions between editions in many areas are minimal, following the appearance of unlicensed DVD versions, DVDs were included with the 1601-1700 4th edition, the 1901-2000 36th edition, and possibly others, but are now sold as a separate product. George S. Cuhaj is the current editor, with Thomas Michael credited as market analyst, although Krause collate contributions from many collecting experts, coin catalog Standard Catalog of World Paper Money A Guide Book of United States Coins Piedfort Vcoins. com Krause Publications Numismaster. com
30.
International Standard Book Number
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The International Standard Book Number is a unique numeric commercial book identifier. An ISBN is assigned to each edition and variation of a book, for example, an e-book, a paperback and a hardcover edition of the same book would each have a different ISBN. The ISBN is 13 digits long if assigned on or after 1 January 2007, the method of assigning an ISBN is nation-based and varies from country to country, often depending on how large the publishing industry is within a country. The initial ISBN configuration of recognition was generated in 1967 based upon the 9-digit Standard Book Numbering created in 1966, the 10-digit ISBN format was developed by the International Organization for Standardization and was published in 1970 as international standard ISO2108. Occasionally, a book may appear without a printed ISBN if it is printed privately or the author does not follow the usual ISBN procedure, however, this can be rectified later. Another identifier, the International Standard Serial Number, identifies periodical publications such as magazines, the ISBN configuration of recognition was generated in 1967 in the United Kingdom by David Whitaker and in 1968 in the US by Emery Koltay. The 10-digit ISBN format was developed by the International Organization for Standardization and was published in 1970 as international standard ISO2108, the United Kingdom continued to use the 9-digit SBN code until 1974. The ISO on-line facility only refers back to 1978, an SBN may be converted to an ISBN by prefixing the digit 0. For example, the edition of Mr. J. G. Reeder Returns, published by Hodder in 1965, has SBN340013818 -340 indicating the publisher,01381 their serial number. This can be converted to ISBN 0-340-01381-8, the check digit does not need to be re-calculated, since 1 January 2007, ISBNs have contained 13 digits, a format that is compatible with Bookland European Article Number EAN-13s. An ISBN is assigned to each edition and variation of a book, for example, an ebook, a paperback, and a hardcover edition of the same book would each have a different ISBN. The ISBN is 13 digits long if assigned on or after 1 January 2007, a 13-digit ISBN can be separated into its parts, and when this is done it is customary to separate the parts with hyphens or spaces. Separating the parts of a 10-digit ISBN is also done with either hyphens or spaces, figuring out how to correctly separate a given ISBN number is complicated, because most of the parts do not use a fixed number of digits. ISBN issuance is country-specific, in that ISBNs are issued by the ISBN registration agency that is responsible for country or territory regardless of the publication language. Some ISBN registration agencies are based in national libraries or within ministries of culture, in other cases, the ISBN registration service is provided by organisations such as bibliographic data providers that are not government funded. In Canada, ISBNs are issued at no cost with the purpose of encouraging Canadian culture. In the United Kingdom, United States, and some countries, where the service is provided by non-government-funded organisations. Australia, ISBNs are issued by the library services agency Thorpe-Bowker
31.
Currency
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A currency in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money in common use, under this definition, US dollars, British pounds, Australian dollars, and European euros are examples of currency. These various currencies are recognized stores of value and are traded between nations in exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance, other definitions of the term currency are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the systems of nations, is the topic of this article. Currencies can be classified into two systems, fiat money and commodity money, depending on what guarantees the value. Some currencies are legal tender in certain jurisdictions, which means they cannot be refused as payment for debt. Others are simply traded for their economic value, digital currency has arisen with the popularity of computers and the Internet. Currency evolved from two basic innovations, both of which had occurred by 2000 BC, originally money was a form of receipt, representing grain stored in temple granaries in Sumer in ancient Mesopotamia, then Ancient Egypt. In this first stage of currency, metals were used as symbols to represent value stored in the form of commodities and this formed the basis of trade in the Fertile Crescent for over 1500 years. Trade could only reach as far as the credibility of that military and it is not known what was used as a currency for these exchanges, but it is thought that ox-hide shaped ingots of copper, produced in Cyprus, may have functioned as a currency. It is thought that the increase in piracy and raiding associated with the Bronze Age collapse, possibly produced by the Peoples of the Sea, brought the trading system of oxhide ingots to an end. In Africa, many forms of value store have been used, including beads, ingots, ivory, various forms of weapons, livestock, the manilla currency, the manilla rings of West Africa were one of the currencies used from the 15th century onwards to sell slaves. African currency is still notable for its variety, and in many various forms of barter still apply. These factors led to the metal itself being the store of value, first silver, now we have copper coins and other non-precious metals as coins. Metals were mined, weighed, and stamped into coins and this was to assure the individual taking the coin that he was getting a certain known weight of precious metal. Coins could be counterfeited, but they created a new unit of account. Most major economies using coinage had several tiers of coins, using a mix of copper, silver, gold coins were used for large purchases, payment of the military and backing of state activities, they were more often used as measures of account than physical coins
32.
Peso
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The peso was a coin that originated in Spain and became of immense importance internationally. Peso is now the name of the unit of several former Spanish colonies. Peso was a given in Spain and particularly in Hispanic America to the 8-royal coin or real de a ocho. It had a weight of 27.468 g and a millesimal fineness of 930.5. This real de a ocho or peso was minted in Spain from the mid 16th century and it was originally known as the piece of eight in English, due to the nominal value of 8 reales. The piece of eight became a coin of importance in the 17th century, especially in trade with India and the Far East. At this time, the piece of eight was produced in Mexico and Peru in a rapid and simplified manner. Instead of making a proper flan or planchet, a lump of silver of proper weight and fineness was cut off the end of a bar, then flattened out. The result was a crude, temporary coin, a lump of silver. This type of coin known as a cob in English. The Crown was entitled to a fifth of all gold and silver mined, the Quinto Real, although intended to serve only temporarily, some did remain in circulation as currency. Because of their shape and incomplete design, cobs were ideal candidates for clipping and counterfeiting. This coin was known in English as a piece of eight, then as a Spanish dollar. In French, it was a piastre and in Portuguese, a pataca or patacão, the Spanish names at various times and in various places were patacón, duro, or fuerte. Because of domestic financial and monetary problems, Spain devalued its currency by about 20% on October 14,1686. The new eight-real was known as a peso maria or peso sencillo, after this, the monetary systems of Spain and of Spanish America developed along different lines. Accounts in Spain were kept in the real of 34 maravedíes, while in Spanish America accounts continued in the silver real. After 1686, the old piece of eight remained the standard coin in the Spanish colonies, Spanish laws of 1728 and 1730 adopted modern minting techniques
33.
Argentine peso
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The peso is the currency of Argentina, identified by the symbol $ preceding the amount in the same way as many countries using dollar currencies. It is subdivided into 100 centavos and its ISO4217 code is ARS. Several earlier currencies of Argentina were also called peso, as inflation progressed a new currency with a few zeroes dropped, since 1970, thirteen zeroes have been dropped. As of October 2014, the rate was about 8 pesos per dollar, by February 2015, it was 10 per US dollar. The peso introduced in 1992 is just called peso, and is preceded by a $ sign only. The peso was an often used for the silver Spanish eight-real coin. Following independence, Argentina began issuing its own coins, denominated in reales, soles and escudos and these coins, together with those from neighbouring countries, circulated until 1881. In 1826, two paper money issues began, denominated in pesos, one, the peso fuerte was a convertible currency, with 17 pesos fuertes equal to one Spanish ounce of 0.916 fine gold. It was replaced by the peso moneda nacional at par in 1881, the non-convertible peso moneda corriente was also introduced in 1826. It started at par with the peso fuerte, but depreciated with time, although the Argentine Confederation issued 1-, 2- and 4-centavo coins in 1854, with 100 centavos equal to 1 peso =8 reales, Argentina did not decimalize until 1881. The peso moneda nacional replaced the earlier currencies at the rate of 1 peso moneda nacional =8 reales =1 peso fuerte =25 peso moneda corriente, initially, one peso moneda nacional coin was made of silver and known as patacón. However, the 1890 economic crisis ensured that no silver coins were issued. At the beginning of the 20th century, the Argentine peso was one of the most traded currencies in the world. The Argentine gold coin from 1875 was the gold peso fuerte, one and two-thirds of a gram of gold of fineness 900, equivalent to one and this unit was based on that recommended by the European Congress of Economists in Paris in 1867 and adopted by Japan in 1873. The monetary system before 1881 has been described as anarchistic. Law 1130 of 1881 put an end to this, it established the unit as the peso oro sellado, a coin of 1.612 grams of gold of fineness 900. Gold coins of 5 and 2.5 pesos were to be used, silver coins of one peso and 50,20,10 and 5 centavos, the depreciated peso moneda corriente was replaced in 1881 by the paper peso moneda nacional at a rate of 25 to 1. This currency was used from 1881 until January 1,1970 The design was changed in 1899, initially the peso m$n was convertible, with a value of one peso oro sellado
34.
Colombian peso
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The peso is the currency of Colombia. Its ISO4217 code is COP and it is also abbreviated as COL$. However, the peso symbol is $. As of August 21,2016, the rate of the Colombian peso is 2,857 Colombian pesos to 1 U. S. dollar. The peso has been the currency of Colombia since 1810 and it replaced the real at a rate of 1 peso =8 reales and was initially subdivided into 8 reales. In 1847, Colombia decimalized and the peso was subdivided into ten reales, the real was renamed the decimo in 1853, although the last reales were struck in 1880. The current system of 100 centavos to the peso was first used in 1819 on early banknotes, in 1871, Colombia went on the gold standard, pegging the peso to the French franc at a rate of 1 peso =5 francs. This peg only lasted until 1886, from 1888, printing press inflation caused Colombias paper money to depreciate and the exchange rate between coins and paper money was fixed at 100 peso moneda corriente =1 coinage peso. Between 1907 and 1914, coins were issued denominated in peso p/m, in 1910, the Junta de Conversión began issuing paper money and, in 1915, a new paper currency was introduced, the peso oro. This was equal to the peso and replaced the old peso notes at a rate of 100 old paper pesos =1 peso oro. In 1931, when the U. K. left the standard, Colombia shifted its peg to the U. S. dollar, at a rate of 1.05 pesos =1 dollar. Although it never appeared on coins, Colombias paper money continued to be issued denominated in peso oro until 1993, when the word oro was dropped. Since 2001, the Colombian senate has debated whether to redenominate the currency by introducing a new peso worth 1000 old pesos, in other words, such a plan has yet to be adopted. Between 1837 and 1839, the Republic of New Grenada introduced silver ¼, ½,1,2, and 8 real coins, along with gold 1,2, and 16 pesos. These were mostly continuations of coins issued before 1837 in the name of the Republic of Colombia, in 1847, the currency was decimalized and coins were introduced in denominations of ½ and 1 décimo de real in copper and 1,2,8 and 10 reales in silver. ¼ and ½ real coins followed in 1849 and 1850, in 1853, silver ½ and 1 décimo, and gold 10 peso coins were introduced, followed by 2 décimos in 1854 and 1 peso in 1855, both in silver. In 1856, gold 5 peso coins were added. Between 1859 and 1862, coins were issued by the Grenadine Confederation in silver for ¼, ½ and 2 reales, ¼, ½ and 1 décimo, and 1 peso, the United States of New Grenada issued silver 1 décimo &1 peso in 1861
35.
Cuban peso
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The peso is one of two official currencies in use in Cuba, the other being the convertible peso. There are currently 25 CUP per CUC, most Cuban state workers receive their wages in national pesos, but some receive a portion of their salary in convertible pesos. Shops that sell basics like fruit and vegetables generally accept only the normal peso, the word pesos may refer to both types of money. Cuban convertible pesos are 25 times more valuable, but that not completely eliminate the confusion for tourists. Since goods bought in national pesos have government-controlled prices, tourists are sometimes confused by prices that look too cheap, the hard pesos are easy to tell apart from the national ones, as CUC coins have an octagonal shape within the outer round rim. The only exception to this is the most common CUP coin, also, CUC currency shows monuments, and CUP bills have portraits. Before 1857, Spanish and Spanish colonial reales circulated in Cuba, from 1857, banknotes were issued specifically for use on Cuba. These were denominated in pesos, with each peso worth 8 reales, from 1869, notes were also issued denominated in centavos, with 100 centavos worth each peso. In 1881, the peso was pegged to the US dollar at par, the currency continued to be issued only in paper form until 1915, when the first coins were issued. In 1960, the peg to the dollar was replaced by one to the Soviet ruble, the peso lost value by the United States embargo against Cuba and the suspension of the sugar quota. The suspension was the economic force driving Cuba to seek out a new economic partner. When the Soviet Union dissolved in 1991, the peso lost much of its value, recently, it has become more valuable and fluctuated between 23 and 25 pesos to the US dollar. In 1993, during the period of economic austerity known as the Special Period, the US dollar became the currency used to purchase some non-essential goods and services, such as cosmetics, and even staple kinds of food and drink. In 1994, the peso was introduced at a par with the dollar. On November 8,2004, the Cuban government withdrew the US dollar from circulation, in 1897 and 1898, pesos were issued by revolutionary forces promoting independence. In 1915, cupro-nickel 1,2 and 5 centavos, silver 10,20 and 40 centavos and 1 peso and these coins were designed by Charles E. Barber, who also designed the Barber dimes, quarters, half dollars for the US. The coins were minted at the US mint at Philadelphia, the gold coins and 2 centavos were not produced after 1916, with the large star design 1 peso ceasing production in 1934. A new silver peso showing a woman, representing the Cuban Republic, finally, a centennial of Jose Marti commemorative peso was produced in 1953
36.
Dominican peso
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The Dominican peso is the currency of the Dominican Republic. Its symbol is $, with RD$ used when distinction from other pesos is required, each peso is divided into 100 centavos, for which the ¢ symbol is used. It is the currency that is legal tender in the Dominican Republic for all monetary transactions. The first Dominican peso was introduced with the independence from Haiti in 1844. It replaced the Haitian gourde at par and was divided into 8 reales, the Dominican Republic decimalized in 1877, subdividing the peso into 100 centavos. A second currency, the franco, was issued between 1891 and 1897 but did not replace the peso, however, in 1905, the peso was replaced by the U. S. dollar, at a rate of 5 pesos to the dollar. The peso oro was introduced in 1937 at par with the U. S. dollar, only one denomination of coin was issued by the Dominican Republic before decimalization. This was the ¼ real, issued in 1844 in bronze, decimalization in 1877 brought about the introduction of three new coins, the 1, 2½ and 5 centavos. 1¼ centavo coins were issued between 1882 and 1888. After the franco was abandoned, silver coins were introduced in 1897 in denominations of 10 and 20 centavos, the designs of these coins were very similar to those of the franco. OLDER COINS Coins were introduced in 1937 in denominations of 1,5,10,25 centavos, all coins bore the national arms on the reverse while all except the 1 centavo bore a crowned allegorical Indian head on the obverse. The 1 centavo instead depicted a tree, the symbol of the ruling Dominican Party. The coins were all of identical weights, diameter, and composition to U. S. coins of the era. Two denominations appeared on coins, one in centavos or pesos. A two coin set of 1955 commemorative coins were minted for the 25th anniversary of Rafael Trujillos reign and these consisted of a gold 30 peso and a silver one peso, both showing him in profile. 50,000 of the one peso coins were produced in issued into circulation. In 1963 the silver content in the 10,25,50, the 1963 issue also distinctively commemorated the centennial of the republic and the crowned Indian head was added to the 1 centavo, replacing the palm. After 1963 the Peso Oro became a currency and base metals replaced silver in the higher denominations, with the 10
37.
Macanese pataca
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The Macao pataca, Macau pataca, or Macanese pataca is the currency of Macau. It is subdivided into 100 avos, with 10 avos called ho in Cantonese, the abbreviation MOP$ is commonly used. Macau has a currency board system under which the tender, Macau pataca, is 100 percent backed by foreign exchange reserves. Moreover, the board, Monetary Authority of Macau, has a statutory obligation to issue and redeem pataca on demand against the Hong Kong dollar at a fixed exchange rate. The pataca was introduced in Portuguese Macau and Portuguese Timor in the year 1894, the unit initially corresponded to the Mexican dollar, and it replaced the Portuguese real at a rate of 1 pataca =450 reais. The name pataca derives from the fact that the Portuguese always referred to the Mexican dollar as the pataca mexicana.5 escudos. This meant that the Macau pataca was worth only 1 shilling sterling and was therefore at a discount of 3 pence sterling in relation to the Hong Kong unit. The first exclusively Macau coinage was not introduced until the year 1952, in that year in Macau, denominations below 10 patacas were replaced by coins. In 1980, the Macau government set up the Issuing Institute of Macau, the BNU became the IEMs agent bank and continued to issue banknotes. On agreement with the BNU on October 16,1995, the Macau branch of Bank of China became the second note-issuing bank, the authority to issue patacas was transferred to the Monetary Authority of Macau. Coins were not issued for use in Macau until 1952, with the 20 cent coin of Canton Province circulating, in 1952, bronze 5 and 10 avos, cupro-nickel 50 avos and.720 fineness silver 1 and 5 patacas were introduced. Nickel-brass replaced bronze in 1967, including the last issue of 5 avos, nickel replaced silver in the 1 pataca in 1968. In 1971, a final issue of 5 patacas was produced. Brass 10,20 and 50 avos and cupro-nickel 1 and 5 patacas were introduced in 1982, the 20 avos and 5 patacas became dodecagonal in 1993 and 1992, respectively, whilst a bimetallic 10 patacas was introduced in 1997 and a cupronickel 2 patacas in 1998. Coins are issued by the Monetary Authority of Macau, owing to Macaus Portuguese colonial past, banknotes are printed in Portuguese as well as Chinese, including the name of the Bank of China which is written as both Banco da China and 中國銀行. Following the initial issues of banknotes in 1906, the new currency was supplemented the following year by 10 and 25 pataca notes. In 1923, the Banco Vui Hang introduced 10 pataca notes which stated that they were backed by Cantonese 20 cent coins. These notes were followed until 1934 by cashiers cheques issued by banks in denominations of 1,5,10,50,100,200,400,800 and 1000 dollars
38.
Mexican peso
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The Mexican peso is the currency of Mexico. Modern peso and dollar currencies have a origin in the 15th–19th century Spanish dollar, most continuing to use its sign. The Mexican peso is the 8th most traded currency in the world, the third most traded currency originating from the Americas, the current ISO4217 code for the peso is MXN, prior to the 1993 revaluation, the code MXP was used. The peso is subdivided into 100 centavos, represented by ¢, as of March 31,2017, the pesos exchange rate was $19.94 per Euro and $18.71 per U. S. dollar. The name was used in reference to pesos oro or pesos plata. The Spanish word peso means weight, the peso was originally the name of the eight-real coins issued in Mexico by Spain. These were the so-called Spanish dollars or pieces of eight in wide circulation in the Americas, in 1863, the first issue was made of coins denominated in centavos, worth one hundredth of the peso. This was followed in 1866 by coins denominated one peso, coins denominated in reales continued to be issued until 1897. In 1905, the content of the peso was reduced by 49. 3%. However, from 1918 onward, the weight and fineness of all the coins declined, until 1977. On January 1,1993 the Bank of Mexico introduced a new currency, one new peso, or N$1.00, was equal to 1000 of the obsolete MXP pesos. The ISO4217 code, however, remained unchanged as MXN, thanks to the stability of the Mexican economy and the growth in foreign investment, the Mexican peso is now among the 15 most traded currency units in recent years. The first coins of the currency were 1 centavo pieces minted in 1863. Emperor Maximilian, ruler of the Second Mexican Empire from 1864–1867 and his portrait was on the obverse, with the legend Maximiliano Emperador, the reverse shows the imperial arms and the legends Imperio Mexicano and 1 Peso and the date. They were struck from 1866 to 1867, the New Mexican republic continued to strike the 8 reales piece, but also began minting coins denominated in centavos and pesos. In addition to copper 1 centavo coins, silver coins of 5,10,25 and 50 centavos and 1 peso were introduced between 1867 and 1869, gold 1, 2½,5,10 and 20-peso coins were introduced in 1870. The obverses featured the Mexican eagle and the legend Republica Mexicana, the reverses of the larger coins showed a pair of scales, those of the smaller coins, the denomination. One-peso coins were made from 1865 to 1873, when 8 reales coins resumed production, in 1882, cupro-nickel 1,2 and 5 centavos coins were issued but they were only minted for two years
39.
Philippine peso
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The Philippine peso is the official currency of the Philippines. It is subdivided into 100 céntimos, as a former colony of the United States, the country used English on its currency, with the word peso appearing on notes and coinage until 1967. Since the adoption of Filipino language for banknotes and coins, the term piso is now used, the peso is usually denoted by the symbol ₱. Other ways of writing the Philippine peso sign are PHP, PhP, Php, P$, the ₱ symbol was added to the Unicode standard in version 3.2 and is assigned U+20B1. The symbol can be accessed through some word processors by typing in 20b1 and then pressing the Alt and this symbol is unique to the Philippines as the symbol used for the peso in countries like Mexico and other former colonies of Spain in Latin America is $. The Philippine coins and banknotes are minted and printed at the Security Plant Complex of the Bangko Sentral ng Pilipinas in Quezon City, the inconvenience of barter however later led to the use of some objects as a medium of exchange. The teston became the de facto unit of trade between Spaniards and Filipinos before the founding of Manila in 1574, the native Tagalog name for the coin was salapi. The monetary situation in the Philippine Islands was chaotic due to the circulation of many types of coins, with differing purity and weights, value equivalents of the different monetary systems were usually difficult to comprehend and hindered trade and commerce. An attempt to remedy the confusion was made in 1848. Overseeing the conversion was Fernándo Norzagaray y Escudero, governor general in the period 1857-60, conversion to the decimal system with the peso fuerte as the unit of account solved the accounting problem, but did little to remedy the confusion of differing circulating coinage. The mint was inaugurated on March 19,1861, despite the mintage of gold and silver coins, Mexican and South and Central American silver still circulated widely. The Isabelline peso, more known as the peso fuerte, was a unit of account divided into 100 céntimos. Its introduction led to the Philippines brief experiment with the gold standard, the peso fuerte was also a unit of exchange equivalent to 1.69 grams of gold,0.875 fine, equivalent to ₱1,390.87. Coin production at the Casa de Moneda de Manila began in 1861 with gold coins of three denominations,4 pesos,2 pesos, and 1 peso. On March 5,1862, Isabel II granted the mint permission to produce silver fractional coinage in denominations of 10,20, minting of these coins started in 1864, with designs similar to the Spanish silver escudo. The coin, which was to be known as the Spanish-Filipino peso, was minted in Madrid in 1897. The specifications of the coin was 25 grams of silver.900 fine and this configuration was also used in the creation of the Puerto Rican provincial peso in 1895 giving both coins the equivalency of 5 pesetas. The new monetary standard finally established the peso as 25 grams silver,0.900 fine, the Spanish-Filipino peso remained in circulation and were legal tender in the islands until 1904, when the American authorities demonetized them in favor of the new US-Philippine peso
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