The United Kingdom the United Kingdom of Great Britain and Northern Ireland, sometimes referred to as Britain, is a sovereign country located off the north-western coast of the European mainland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, many smaller islands. Northern Ireland is the only part of the United Kingdom that shares a land border with another sovereign state, the Republic of Ireland. Apart from this land border, the United Kingdom is surrounded by the Atlantic Ocean, with the North Sea to the east, the English Channel to the south and the Celtic Sea to the south-west, giving it the 12th-longest coastline in the world; the Irish Sea lies between Great Ireland. With an area of 242,500 square kilometres, the United Kingdom is the 78th-largest sovereign state in the world, it is the 22nd-most populous country, with an estimated 66.0 million inhabitants in 2017. The UK is constitutional monarchy; the current monarch is Queen Elizabeth II, who has reigned since 1952, making her the longest-serving current head of state.
The United Kingdom's capital and largest city is London, a global city and financial centre with an urban area population of 10.3 million. Other major urban areas in the UK include Greater Manchester, the West Midlands and West Yorkshire conurbations, Greater Glasgow and the Liverpool Built-up Area; the United Kingdom consists of four constituent countries: England, Scotland and Northern Ireland. Their capitals are London, Edinburgh and Belfast, respectively. Apart from England, the countries have their own devolved governments, each with varying powers, but such power is delegated by the Parliament of the United Kingdom, which may enact laws unilaterally altering or abolishing devolution; the nearby Isle of Man, Bailiwick of Guernsey and Bailiwick of Jersey are not part of the UK, being Crown dependencies with the British Government responsible for defence and international representation. The medieval conquest and subsequent annexation of Wales by the Kingdom of England, followed by the union between England and Scotland in 1707 to form the Kingdom of Great Britain, the union in 1801 of Great Britain with the Kingdom of Ireland created the United Kingdom of Great Britain and Ireland.
Five-sixths of Ireland seceded from the UK in 1922, leaving the present formulation of the United Kingdom of Great Britain and Northern Ireland. There are fourteen British Overseas Territories, the remnants of the British Empire which, at its height in the 1920s, encompassed a quarter of the world's land mass and was the largest empire in history. British influence can be observed in the language and political systems of many of its former colonies; the United Kingdom is a developed country and has the world's fifth-largest economy by nominal GDP and ninth-largest economy by purchasing power parity. It has a high-income economy and has a high Human Development Index rating, ranking 14th in the world, it was the world's first industrialised country and the world's foremost power during the 19th and early 20th centuries. The UK remains a great power, with considerable economic, military and political influence internationally, it is sixth in military expenditure in the world. It has been a permanent member of the United Nations Security Council since its first session in 1946.
It has been a leading member state of the European Union and its predecessor, the European Economic Community, since 1973. The United Kingdom is a member of the Commonwealth of Nations, the Council of Europe, the G7, the G20, NATO, the Organisation for Economic Co-operation and Development and the World Trade Organization; the 1707 Acts of Union declared that the kingdoms of England and Scotland were "United into One Kingdom by the Name of Great Britain". The term "United Kingdom" has been used as a description for the former kingdom of Great Britain, although its official name from 1707 to 1800 was "Great Britain"; the Acts of Union 1800 united the kingdom of Great Britain and the kingdom of Ireland in 1801, forming the United Kingdom of Great Britain and Ireland. Following the partition of Ireland and the independence of the Irish Free State in 1922, which left Northern Ireland as the only part of the island of Ireland within the United Kingdom, the name was changed to the "United Kingdom of Great Britain and Northern Ireland".
Although the United Kingdom is a sovereign country, Scotland and Northern Ireland are widely referred to as countries. The UK Prime Minister's website has used the phrase "countries within a country" to describe the United Kingdom; some statistical summaries, such as those for the twelve NUTS 1 regions of the United Kingdom refer to Scotland and Northern Ireland as "regions". Northern Ireland is referred to as a "province". With regard to Northern Ireland, the descriptive name used "can be controversial, with the choice revealing one's political preferences"; the term "Great Britain" conventionally refers to the island of Great Britain, or politically to England and Wales in combination. However, it is sometimes used as a loose synonym for the United Kingdom as a whole; the term "Britain" is used both as a synonym for Great Britain, as a synonym for the United Kingdom. Usage is mixed, with the BBC preferring to use Britain as shorthand only for Great Britain and the UK Government, while accepting that both terms refer to the United K
Legal tender is a medium of payment recognized by a legal system to be valid for meeting a financial obligation. Paper currency and coins are common forms of legal tender in many countries. Legal tender is variously defined in different jurisdictions. Formally, it is anything. Thus, personal cheques, credit cards, similar non-cash methods of payment are not legal tender; the law does not relieve the debt obligation. Coins and banknotes are defined as legal tender; some jurisdictions may restrict payment made other than by legal tender. For example, such a law might outlaw the use of foreign coins and bank notes or require a license to perform financial transactions in a foreign currency. Designation of a particular form of money as legal tender means "that the designated money is valid payment for all debts unless there is a specific agreement to the contrary". In some jurisdictions legal tender can be refused as payment if no debt exists prior to the time of payment. For example, vending machines and transport staff do not have to accept the largest denomination of banknote.
Shopkeepers may reject large banknotes: this is covered by the legal concept known as invitation to treat. The right, in many jurisdictions, of a trader to refuse to do business with any person, means a purchaser may not insist on making a purchase and so declaring a legal tender in law, as anything other than an offered payment for debts incurred would not be effective. Under U. S. federal law, cash in U. S. dollars is a legal offer of payment for antecedent debts when tendered to a creditor. By contrast, federal statutes do not require that someone, not a pre-existing creditor must accept currency or coins as payment for goods or services. Private businesses may formulate their own policies on whether to accept cash unless state law requires otherwise; the term "legal tender" is from French tendre, meaning to offer. The Latin root is tendere, the sense of tender as an offer is related to the etymology of the English word "extend". Demonetization is the act of stripping a currency unit of its status as legal tender.
It occurs whenever there is a change of national currency: The current form or forms of money is pulled from circulation and retired to be replaced with new notes or coins. Sometimes, a country replaces the old currency with new currency; the opposite of demonetization is remonetization, in which a form of payment is restored as legal tender. Coins and banknotes may cease to be legal tender if new notes of the same currency replace them or if a new currency is introduced replacing the former one. Examples of this are: The United Kingdom, adopting decimal currency in place of pounds and pence in 1971, Banknotes remained unchanged. In 1968 and 1969 decimal coins which had precise equivalent values in the old currency were introduced, while decimal coins with no precise equivalent were introduced on 15 February 1971; the smallest and largest non-decimal circulating coins, the half penny and half crown, were withdrawn in 1969, the other non-decimal coins with no precise equivalent in the new currency were withdrawn in 1971.
Non-decimal coins with precise decimal equivalents remained legal tender either until the coins no longer circulated, or the equivalent decimal coins were reduced in size in the early 1990s. The 6d coin was permitted to remain in large circulation throughout the United Kingdom due to the London Underground committee's large investment in coin-operated ticketing machines that used it. Old coins returned to the Royal Mint through the UK banking system will be redeemed by exchanging them for legal tender currency with no time limits; the successor states of the Soviet Union replacing the Soviet ruble in the 1990s. Currencies used in the Eurozone before being replaced by the euro are not legal tender, but all banknotes are redeemable for euros for a minimum of 10 years. India demonetised its 500 and 1000 rupee notes on 8 November 2016; this action affected 86 percent of all cash in circulation. The demonetisation action was intended to curb black money, the hoarding of unaccounted cash, sponsorship of terrorism, but led to long queues from bank runs, leaving more than 30 people dead.
The old notes are now being replaced by new 2000 rupee notes. The Philippines has ceased 2 peso and 50 centavo coins of Flora and Fauna Series in 2000, due to overminting of the coins of BSP Series that has not included the 2 peso and 50 centavo coins of that series. Individual coins or banknotes can be demonetised and cease to be legal tender, but the Bank of England does redeem all Bank of England banknotes by exchanging them for legal tender currency at its counters in London regardless of how old they are. Banknotes issued by retail banks in the UK are not legal tender, but one of the criteria for legal protection under the Forgery and Counterfeiting Act is that banknotes must be payable on demand, therefore withdrawn notes remain a liability of the issuing bank without any time limits. In the case of the euro, coins an
Province of Pennsylvania
The Province of Pennsylvania known as the Pennsylvania Colony, was founded in English North America by William Penn on March 4, 1681 as dictated in a royal charter granted by King Charles II. The name Pennsylvania, which translates as "Penn's Woods", was created by combining the Penn surname with the Latin word sylvania, meaning "forest land"; the Province of Pennsylvania was one of the two major Restoration colonies, the other being the Province of Carolina. The proprietary colony's charter remained in the hands of the Penn family until the American Revolution, when the Commonwealth of Pennsylvania was created and became one of the original thirteen states. "The lower counties on Delaware", a separate colony within the province, would breakaway during the American Revolution as "the Delaware State" and be one of the original thirteen states. The colonial government, established in 1682 by Penn's Frame of Government, consisted of an appointed Governor, the proprietor, a 72-member Provincial Council, a larger General Assembly.
The General Assembly known as the Pennsylvania Provincial Assembly, was the largest and most representative branch of government, but had little power. Succeeding Frames of Government were produced in 1683, 1696 and 1701; the fourth Frame was known as the Charter of Privileges and remained in effect until the American Revolution. At that time, the Provincial Assembly was deemed too moderate by the revolutionaries, who ignored the Assembly and held a convention which produced the Constitution of 1776 for the newly established commonwealth, creating a new General Assembly in the process. William Penn was an English real estate entrepreneur, early Quaker and founder of the Province of Pennsylvania, the English North American colony and the future Commonwealth of Pennsylvania, he was an early advocate of democracy and religious freedom, notable for his good relations and successful treaties with the Le nape Indians. Under his direction, the city of Philadelphia was developed. Penn, despite having the land grant from the King, embarked on an effort to purchase the lands from Native Americans.
Much of the land near present-day Philadelphia was held by the Delaware who would expect payment in exchange for a quitclaim to vacate the territory. Penn and his representatives negotiated a series of treaties with the Delaware and other tribes that had an interest in the land in his royal grant; the initial treaties were conducted between 1682 and 1684 for tracts between New Jersey and the former Swedish / Dutch colonies in present-day Delaware. The province was thus divided first into three counties, plus the three "lower counties on Delaware Bay"; the easternmost, Bucks County, Philadelphia County and Chester County, the westernmost. "The lower counties on Delaware," a separate colony within the province, constituted the same three counties that constitute the present State of Delaware: New Castle, the northernmost, the southernmost, Kent, which fell between New Castle and Sussex County. Their borders remain unchanged to this day, it was not until several decades into the next century that additional treaties with the Native Americans were concluded.
The Proprietors of the colony made treaties in 1718, 1732, 1737, 1749, 1754 and 1754 pushing the boundaries of the colony north and west. By the time the French and Indian War began in 1754, the Assembly had established the additional counties of Lancaster, Cumberland and Northampton. After the war was concluded, an additional treaty was made in 1768, that abided by the limits of the Royal Proclamation of 1763; this proclamation line was not intended to be a permanent boundary between the colonists and native American lands, but rather a temporary boundary which could be extended further west in an orderly manner but only by the royal government and not private individuals such as the Proprietors. This altered the original royal land grant to Penn; the next acquisitions by Pennsylvania were to take place as an independent commonwealth or state and no longer as a colony. The Assembly establish additional counties from the land prior to the War for American Independence; these counties were Bedford and Westmoreland.
William Penn and his fellow Quakers imprinted their religious values on the early Pennsylvanian government. The Charter of Privileges extended religious freedom to all monotheists and government was open to all Christians; until the French and Indian War Pennsylvania had no public debt. It encouraged the rapid growth of Philadelphia into America's most important city, of the Pennsylvania Dutch Country hinterlands, where German religions and political refugees prospered on the fertile soil and spirit of cultural creativeness. Among the first groups were the Mennonites, who founded Germantown in 1683. 1751 was an auspicious year for the colony. Pennsylvania Hospital, the first hospital in the British American colonies, The Academy and College of Philadelphia, the predecessor to the private University of Pennsylvania, both opened. Benjamin Franklin founded both of these institutions along with Philadelphia's Union Fire Company fifteen years earlier in 1736. In 1751, the Pennsylvania State House ordered a new bell which would become known as the Liberty Bell for the new bell tower being built in the Pennsylvania State House in Philadelphia.
William Penn had mandated fair dealings with Native Americans. This led to better r
Benjamin Franklin was an American polymath and one of the Founding Fathers of the United States. Franklin was a leading author, political theorist, freemason, scientist, humorist, civic activist and diplomat; as a scientist, he was a major figure in the American Enlightenment and the history of physics for his discoveries and theories regarding electricity. As an inventor, he is known for the lightning rod and the Franklin stove, among other inventions, he founded many civic organizations, including the Library Company, Philadelphia's first fire department and the University of Pennsylvania. Franklin earned the title of "The First American" for his early and indefatigable campaigning for colonial unity as an author and spokesman in London for several colonies; as the first United States Ambassador to France, he exemplified the emerging American nation. Franklin was foundational in defining the American ethos as a marriage of the practical values of thrift, hard work, community spirit, self-governing institutions, opposition to authoritarianism both political and religious, with the scientific and tolerant values of the Enlightenment.
In the words of historian Henry Steele Commager, "In a Franklin could be merged the virtues of Puritanism without its defects, the illumination of the Enlightenment without its heat." To Walter Isaacson, this makes Franklin "the most accomplished American of his age and the most influential in inventing the type of society America would become."Franklin became a successful newspaper editor and printer in Philadelphia, the leading city in the colonies, publishing the Pennsylvania Gazette at the age of 23. He became wealthy publishing this and Poor Richard's Almanack, which he authored under the pseudonym "Richard Saunders". After 1767, he was associated with the Pennsylvania Chronicle, a newspaper, known for its revolutionary sentiments and criticisms of British policies, he pioneered and was first president of Academy and College of Philadelphia which opened in 1751 and became the University of Pennsylvania. He organized and was the first secretary of the American Philosophical Society and was elected president in 1769.
Franklin became a national hero in America as an agent for several colonies when he spearheaded an effort in London to have the Parliament of Great Britain repeal the unpopular Stamp Act. An accomplished diplomat, he was admired among the French as American minister to Paris and was a major figure in the development of positive Franco-American relations, his efforts proved vital for the American Revolution in securing shipments of crucial munitions from France. He was promoted to deputy postmaster-general for the British colonies in 1753, having been Philadelphia postmaster for many years, this enabled him to set up the first national communications network. During the revolution, he became the first United States Postmaster General, he was active in community affairs and colonial and state politics, as well as national and international affairs. From 1785 to 1788, he served as governor of Pennsylvania, he owned and dealt in slaves but, by the 1750s, he argued against slavery from an economic perspective and became one of the most prominent abolitionists.
His colorful life and legacy of scientific and political achievement, his status as one of America's most influential Founding Fathers, have seen Franklin honored more than two centuries after his death on coinage and the $100 bill and the names of many towns, educational institutions, corporations, as well as countless cultural references. Benjamin Franklin's father, Josiah Franklin, was a soaper and candlemaker. Josiah was born at Ecton, England on December 23, 1657, the son of blacksmith and farmer Thomas Franklin, Jane White. Benjamin's father and all four of his grandparents were born in England. Josiah had seventeen children with his two wives, he married his first wife, Anne Child, in about 1677 in Ecton and immigrated with her to Boston in 1683. Following her death, Josiah was married to Abiah Folger on July 9, 1689 in the Old South Meeting House by Samuel Willard. Benjamin, their eighth child, was Josiah Franklin's fifteenth tenth and last son. Abiah Folger was born in Nantucket, Massachusetts, on August 15, 1667, to Peter Folger, a miller and schoolteacher, his wife, Mary Morrell Folger, a former indentured servant.
She came from a Puritan family, among the first Pilgrims to flee to Massachusetts for religious freedom, when King Charles I of England began persecuting Puritans. They sailed for Boston in 1635, her father was "the sort of rebel destined to transform colonial America." As clerk of the court, he was jailed for disobeying the local magistrate in defense of middle-class shopkeepers and artisans in conflict with wealthy landowners. Ben Franklin followed in his grandfather's footsteps in his battles against the wealthy Penn family that owned the Pennsylvania Colony. Benjamin Franklin was born on Milk Street, in Boston, Massachusetts, on January 17, 1706, baptized at Old South Meeting House, he was one of seventeen children born to Josiah Franklin, one of ten born by Josiah's second wife, Abiah Folger. Among Benjamin's siblings were his older brother James and his younger sister Jane. Josiah wanted Ben to attend school with the clergy, but only had enough money to send him to school for two years, he did not graduate.
Although "his parents talked of the church as a career" for Franklin, his schooling e
Wampum is a traditional shell bead of the Eastern Woodlands tribes of American Indians. It includes the white shell beads hand fashioned from the North Atlantic channeled whelk shell and the white and purple beads made from the quahog or Western North Atlantic hard-shelled clam. Before European contact, strings of wampum were used for storytelling, ceremonial gifts, recording important treaties and historical events, such as the Two Row Wampum Treaty or The Hiawatha Belt. Wampum was used by the northeastern Indian tribes as a means of exchange, strung together in lengths for convenience; the first Colonists adopted it as a currency in trading with them. The Colonists applied their technologies to more efficiently produce wampum, which caused inflation and its obsolescence as currency; the term wampum referred only to the white beads which are made of the inner spiral or columella of the Channeled whelk shell Busycotypus canaliculatus or Busycotypus carica. Sewant or suckauhock beads are the black or purple shell beads made from the quahog or poquahock clamshell Mercenaria mercenaria.
Sewant or Zeewant was the term used for this currency by the New Netherland colonists. Common terms for the dark and white beads are saki; the clams and whelks used for making wampum are found only along Long Island Sound and Narragansett Bay. The Lenape name for Long Island is Sewanacky. Wampum beads are tubular in shape a quarter of an inch long and an eighth inch wide. One 17th-century Seneca wampum belt featured beads 2.5 inches long. Women artisans traditionally made wampum beads by rounding small pieces of whelk shells piercing them with a hole before stringing them. Wooden pump drills with quartz drill bits and steatite weights were used to drill the shells; the unfinished beads would be strung together and rolled on a grinding stone with water and sand until they were smooth. The beads would be strung or woven on deer hide thongs, milkweed bast, or basswood fibers; the term wampum is a shortening of wampumpeag, derived from the Massachusett or Narragansett word meaning "white strings of shell beads."
The Proto-Algonquian reconstructed form is thought to be *wa·p-a·py-aki, "white strings." In New York, wampum beads have been discovered dating before 1510. The introduction of European metal tools revolutionized the production of wampum. Dutch colonists discovered the importance of wampum as a means of exchange between tribes, they began mass-producing it in workshops. John Campbell established such a factory in Pascack, New Jersey which manufactured wampum into the early 20th century; the Iroquois used wampum as a certificate of authority. It was used for official purposes and religious ceremonies, it was used as a way to bind peace between tribes. Among the Iroquois, every chief and every clan mother has a certain string of wampum that serves as their certificate of office; when they pass on or are removed from their station, the string will pass on to the new leader. Runners carrying messages during colonial times would present the wampum showing that they had the authority to carry the message.
As a method of recording and an aid in narrating, Iroquois warriors with exceptional skills were provided training in interpreting the wampum belts. As the Keepers of the Central Fire, the Onondaga Nation was trusted with the task of keeping all wampum records. Wampum is still used to this day in the ceremony of raising up a new chief and in the Iroquois Thanksgiving ceremonies. True wampum is scarce today and only wampum strings are used; the Wampum was central to the giving of names, in which the names and titles of deceased persons were passed on to others. Deceased individuals of high office are replaced, as a wampum inscribed with the name of the deceased is laid on the shoulders of the successor, the successor may shake off the Wampum and reject the transfer of name; the reception of a name may transfer personal history, previous obligations of the deceased, e.g. the successor of a person killed in war may be obligated to avenge the death of the names previous holder, or care for the deceased persons family as their own....
The Iroquoians shared a particular constitution: they saw their societies not as a collection of living individuals but as a collection of eternal names, which over the course of times passed from one individual holder to another. Just as the wampum enabled the continuation of names and the histories of persons, the wampum was central to establishing and renewing peace between clans and families; when a man representing his respective social unit met another, he would offer one wampum inscribed with mnemonic symbols representing the purpose of the meeting or message. The wampum, facilitated the most essential practices in holding the Iroquois society together; when Europeans came to the Americas, they adopted wampum as money to trade with the native peoples of New England and New York. Wampum was legal tender in New England from 1637 to 1661; the colonial government in New Jersey issued a proclamation setting the rate at six white or three black to one penny. The black shells were rarer than the white shells and so were worth more, which led people to dye the white and dilute the value of black shells.
Robert Beverley, Jr. of Virginia Colony wrote about tribes in Virginia
Commodity money is money whose value comes from a commodity of which it is made. Commodity money consists of objects that have value in themselves as well as value in their use as money. Examples of commodities that have been used as mediums of exchange include gold, copper, peppercorns, large stones, decorated belts, alcohol, cannabis, candy, cocoa beans and barley; these items were sometimes used in a metric of perceived value in conjunction to one another, in various commodity valuation or price system economies. Commodity money is to be distinguished from representative money, a certificate or token which can be exchanged for the underlying commodity, but only as the trade is good for that source and the product. A key feature of commodity money is that the value is directly perceived by the users of this money, who recognize the utility or beauty of the tokens as they would recognize the goods themselves; that is, the effect of holding a token for a barrel of oil must be the same economically as having the barrel at hand.
This thinking guides the modern commodity markets, although they use a sophisticated range of financial instruments that are more than one-to-one representations of units of a given type of commodity. Since payment by commodity provides a useful good, commodity money is similar to barter, but is distinguishable from it in having a single recognized unit of exchange. Described the establishment of commodity money in P. O. W camps. People left their surplus clothing, toilet requisites and food there until they were sold at a fixed price in cigarettes. Only sales in cigarettes were accepted – there was no barter Of food, the shop carried small stocks for convenience, thus the cigarette attained its fullest currency status, the market was completely unified. Radford documented the way that this'cigarette currency' was subject to Gresham's law and deflation. In another example, in US prisons, after smoking was banned circa 2003, commodity money has switched in many places to cans or foil pouches of mackerel fish fillets, which have a standard cost and are easy to store.
These may be exchanged for many services in prisons where personal possession of currency is prohibited. In situations where the commodity is metal gold or silver, a government mint will coin money by placing a mark on the metal that serves as a guarantee of the weight and purity of the metal. In doing so, the government will impose a fee, known as seigniorage; the role of a mint and of coin differs between fiat money. In situations where there is commodity money, the coin retains its value if it is melted and physically altered, while in a fiat money it does not. In a fiat money the value drops if the coin is converted to metal, but in a few cases the value of metals in fiat moneys have been allowed to rise to values larger than the face value of the coin. In India, for example fiat Rupees disappeared from the market after 2007 when their content of stainless steel became larger than the fiat or face value of the coins. In the US, the metal in pennies and nickels has a value close to, sometimes exceeding, the fiat face value of the coin.
Commodities come into being in situations where other forms of money are not available or not trusted. Various commodities were used in pre-Revolutionary America including wampum, iron nails, beaver pelts, tobacco. According to economist Murray Rothbard: In the sparsely settled American colonies, money, as it always does, arose in the market as a useful and scarce commodity and began to serve as a general medium of exchange. Thus, beaver fur and wampum were used as money in the north for exchanges with the Indians, fish and corn served as money. Rice was used as money in South Carolina, the most widespread use of commodity money was tobacco, which served as money in Virginia; the pound-of-tobacco was the currency unit in Virginia, with warehouse receipts in tobacco circulating as money backed 100 percent by the tobacco in the warehouse. In Canada, where the Hudson's Bay Company and other fur trading companies controlled most of the country, fur traders realized that gold and silver were of no interest to the First Nations.
They wanted goods such as metal axes. Rather than use a barter system, the fur traders established the beaver pelt as the standard currency, created a price list for goods: 5 pounds of sugar cost 1 beaver pelt 2 scissors cost 1 beaver pelt 20 fish hooks cost 1 beaver pelt 1 pair of shoes cost 1 beaver pelt 1 gun cost 12 beaver peltsOther animal furs were convertible into beaver pelts at a standard rate as well, so this created a viable currency in a primitive economy with limited supplies of gold and other kinds of money, but numerous fur-bearing animals; the Fort Knox gold repository long maintained by the United States, functioned as a theoretical backing for federally issued "gold certificates" to substitute for the gold. Between 1933 and 1970, one U. S. dollar was technically worth 1/35 of a troy ounce of gold. However, actual trade in gold bullion as a precious metal within the United States was banned after 1933, with the explicit purpose of preventing the "hoarding" of private gold during an economic depression period in which maximal circulation of money was desired by influential economists.
This was a typical transition from commodity to repres
King William's War
King William's War was the North American theater of the Nine Years' War known as the War of the Grand Alliance or the War of the League of Augsburg. It was the first of six colonial wars fought between New France and New England along with their respective Native allies before France ceded its remaining mainland territories in North America east of the Mississippi River in 1763. For King William's War, neither England nor France thought of weakening their position in Europe to support the war effort in North America. New France and the Wabanaki Confederacy were able to thwart New England expansion into Acadia, whose border New France defined as the Kennebec River in southern Maine. According to the terms of the 1697 Treaty of Ryswick that ended the Nine Years' War, the boundaries and outposts of New France, New England, New York remained unchanged; the war was caused by the fact that the treaties and agreements that were reached at the end of King Philip's War were not adhered to. In addition, the English were alarmed.
The Indians preyed on the English and their fears, by making it look as though they were with the French. The French were played as well; these occurrences, in addition to the fact that the English perceived the Indians as their subjects, despite the Indians' unwillingness to submit led to two conflicts, one of, King William's War. The English settlers were more than 154,000 at the beginning of the war, outnumbering the French 12 to 1. However, they were divided in multiple colonies along the Atlantic coast, which were unable to cooperate efficiently, they were engulfed in the Glorious Revolution, creating tension among the colonists. In addition, the English lacked military leadership and had a difficult relationship with their Iroquois allies. New France was divided into three entities: Acadia on the Atlantic coast; the French population amounted to 14,000 in 1689. Although the French were vastly outnumbered, they were more politically unified and contained a disproportionate number of adult males with military backgrounds.
Realizing their numerical inferiority, they developed good relationships with the indigenous peoples in order to multiply their forces and made effective use of hit-and-run tactics. England's Catholic King James II was deposed at the end of 1688 in the Glorious Revolution, after which Protestants William III and Mary II took the throne. William joined the League of Augsburg in its war against France. In North America, there was significant tension between New France and the northern English colonies, which had in 1686 been united in the Dominion of New England. New England and the Iroquois Confederacy fought the Wabanaki Confederacy; the Iroquois dominated the economically important Great Lakes fur trade and had been in conflict with New France since 1680. At the urging of New England, the Iroquois interrupted the trade between New France and the western tribes. In retaliation, New France raided Seneca lands of western New York. In turn, New England supported the Iroquois in attacking New France, which they did by raiding Lachine.
There were similar tensions on the border between New England and Acadia, which New France defined as the Kennebec River in southern Maine. English settlers from Massachusetts had expanded their settlements into Acadia. To secure New France's claim to present-day Maine, New France established Catholic missions among the three largest native villages in the region: one on the Kennebec River. For their part, in response to King Philip's War, the five Indian tribes in the region of Acadia created the Wabanaki Confederacy to form a political and military alliance with New France to stop the New England expansion; the New England and Newfoundland Theatre of the war is known as Castin's War and Father Jean Baudoin's War. In April 1688, Governor Andros plundered Castine's village on Penobscot Bay. In August, the English raided the French village of Chedabouctou. In response and the Wabanaki Confederacy engaged in the Northeast Coast Campaign of 1688 along the New England/Acadia border, they began August 1688, at New Dartmouth, killing a few settlers.
A few days they killed two people at Yarmouth in the first battle. At Kennebunk, in the fall of 1688, members of the Confederacy killed two families; the following spring, in June 1689, several hundred Abenaki and Pennacook Indians under the command of Kancamagus and Mesandowit raided Dover, New Hampshire, killing more than 20 and taking 29 captives, who were sold into captivity in New France. In June, they killed four men at Saco. In response to these raids, a company of 24 men was raised to search for the bodies and pursue the natives, they were forced to return. In August 1689, Jean-Vincent d'Abbadie de Saint-Castin and Father Louis-Pierre Thury led an Abenaki war party that captured and destroyed the fort at Pemaquid; the fall of Pemaquid was a significant setback to the English. It pushed the frontier back to Maine. New England retaliat