1.
Ge'ez script
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Geez is a script used as an abugida for several languages of Ethiopia and Eritrea. It originated as an abjad and was first used to write Geez, now the language of the Ethiopian Orthodox Tewahedo Church. In Amharic and Tigrinya, the script is often called fidäl, the Geez script has been adapted to write other, mostly Semitic, languages, particularly Amharic in Ethiopia, and Tigrinya in both Eritrea and Ethiopia. It is also used for Sebatbeit, Meen, and most other languages of Ethiopia, in Eritrea it is used for Tigre, and it has traditionally been used for Blin, a Cushitic language. Tigre, spoken in western and northern Eritrea, is considered to resemble Geez more than do the other derivative languages, some other languages in the Horn of Africa, such as Oromo, used to be written using Geez, but have migrated to Latin-based orthographies. For the representation of sounds, this uses a system that is common among linguists who work on Ethiopian Semitic languages. This differs somewhat from the conventions of the International Phonetic Alphabet, see the articles on the individual languages for information on the pronunciation. The earliest inscriptions of Semitic languages in Eritrea and Ethiopia date to the 9th century BC in Epigraphic South Arabian, after the 7th and 6th centuries BC, however, variants of the script arose, evolving in the direction of the Geez abugida. This evolution can be seen most clearly in evidence from inscriptions in Tigray region in northern Ethiopia, at least one of Wazebas coins from the late 3rd or early 4th century contains a vocalized letter, some 30 or so years before Ezana. It has been argued that the marking pattern of the script reflects a South Asian system. On the other hand, emphatic P̣ait ጰ, a Geez innovation, is a modification of Ṣädai ጸ, while Pesa ፐ is based on Tawe ተ. Thus, there are 24 correspondences of Geez and the South Arabian alphabet, Many of the names are cognate with those of Phoenician. Two alphabets were used to write the Geez language, an abjad and later an abugida. The abjad, used until c.330 AD, had 26 consonantal letters, h, l, ḥ, m, ś, r, s, ḳ, b, t, ḫ, n, ʾ, k, w, ʿ, z, y, d, g, ṭ, p̣, ṣ, ṣ́, f, p Vowels were not indicated. Modern Geez is written left to right. The Geez abugida developed under the influence of Christian scripture by adding obligatory vocalic diacritics to the consonantal letters. The diacritics for the vowels, u, i, a, e, ə, o, were fused with the consonants in a recognizable but slightly irregular way, the original form of the consonant was used when the vowel was ä, the so-called inherent vowel. The resulting forms are shown below in their traditional order, for some consonants, there is an eighth form for the diphthong -wa or -oa, and a ninth for -yä
2.
Eritrea
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Eritrea, officially the State of Eritrea, is a country in the Horn of Africa. With its capital at Asmara, it is bordered by Sudan in the west, Ethiopia in the south, the northeastern and eastern parts of Eritrea have an extensive coastline along the Red Sea. The nation has an area of approximately 117,600 km2. Its toponym Eritrea is based on the Greek name for the Red Sea, Eritrea is a multi-ethnic country, with nine recognized ethnic groups in its population of around six million. Most residents speak languages from the Afroasiatic family, either of the Ethiopian Semitic languages or Cushitic branches, among these communities, the Tigrinya make up about 55% of the population, with the Tigre people constituting around 30% of inhabitants. In addition, there are a number of Nilo-Saharan-speaking Nilotic ethnic minorities, most people in the territory adhere to Christianity or Islam. In medieval times much of Eritrea fell under the Medri Bahri kingdom, the creation of modern-day Eritrea is a result of the incorporation of independent, distinct kingdoms and sultanates eventually resulting in the formation of Italian Eritrea. In 1947 Eritrea became part of a federation with Ethiopia, the Federation of Ethiopia, subsequent annexation into Ethiopia led to the Eritrean War of Independence, ending with Eritrean independence following a referendum in April 1993. Hostilities between Eritrea and Ethiopia persisted, leading to the Eritrean–Ethiopian War of 1998–2000 and further skirmishes with both Djibouti and Ethiopia, Eritrea is a one-party state in which national legislative elections have been repeatedly postponed. According to Human Rights Watch, the Eritrean governments human rights record is considered among the worst in the world, the Eritrean government has dismissed these allegations as politically motivated. The compulsory military service requires lengthy, indefinite conscription periods, which some Eritreans leave the country in order to avoid, since all local media is state-owned, Eritrea was also ranked as having the least press freedom in the global Press Freedom Index. Eritrea is a member of the African Union, the United Nations, and IGAD, during the Middle Ages, the Eritrea region was known as Medri Bahri. The name Eritrea is derived from the ancient Greek name for the Red Sea and it was first formally adopted in 1890, with the formation of Italian Eritrea. The territory became the Eritrea Governorate within Italian East Africa in 1936, Eritrea was annexed by Ethiopia in 1953 and an Eritrean Liberation Front formed in 1960. Eritrea gained independence following the 1993 referendum, and the name of the new state was defined as State of Eritrea in the 1997 constitution. At Buya in Eritrea, one of the oldest hominids representing a link between Homo erectus and an archaic Homo sapiens was found by Italian scientists. Dated to over 1 million years old, it is the oldest skeletal find of its kind, during the last interglacial period, the Red Sea coast of Eritrea was occupied by early anatomically modern humans. It is believed that the area was on the out of Africa that some scholars suggest was used by early humans to colonize the rest of the Old World
3.
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
4.
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
5.
Ethiopian birr
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The birr is the unit of currency in Ethiopia. Before 1976, dollar was the official English translation of birr, today, it is officially birr in English as well. Thus, the currency could be considered the Abyssinian birr and the post-1931 currency the Ethiopian birr, although it was the same country. 186 billion birr were in circulation in 2008, in the 18th and 19th centuries, Maria Theresa thalers and blocks of salt called amole tchew served as currency in Ethiopia. The thaler was known locally as the Birr or ታላሪ taleri, the Maria Theresa thaler was officially adopted as the standard coin in 1855, although the Indian rupee and the Mexican dollar were also used in foreign trade. The talari became the unit on 9 February 1893 and 200,000 dollars were produced at the Paris Mint in 1894 for Menelik II. The talari, equivalent to the Maria Theresa thaler, was divided into 20 ghersh or 40 bessa, a new Ethiopian coinage appeared about 1903. The new silver birr maintained the weight and fineness as the old, but there was now a quarter-birr and a silver ghersh. The money of account now became 1 birr =16 ghersh =32 bessa, the Bank of Abyssinia was established in 1905 by Emperor Menelik and the European banking group behind the National Bank of Egypt, the bank was officially inaugurated by Menelik on 15 February 1906. The Ethiopian coinage gained acceptance only gradually, and Bank of Abyssinia imported Maria Theresa thalers, by the time World War One broke out, the bank was still importing about 1,200,000 of these coins annually. Bank of Abyssinia put banknotes into circulation in 1915 and these notes were denominated birr in Amharic and thaler in English. They were used by merchants and by foreigners but were not initially accepted generally, however, Note circulation increased considerably after 1925. Emperor Haile Selassie bought out the Bank of Abyssinia in 1931 for £235,000 in order to make it a purely Ethiopian institution and it was reorganized as Bank of Ethiopia. At the same time, the currency was decimalized and token nickel and copper coins were introduced, the text on the banks notes appeared in Amharic and French. By the mid-1930s circulation consisted chiefly of Maria Theresa and Menelik talari. In an effort to increase the use of Italian paper money, the rate for silver coin was raised to 4.50 lire, then to 5.00. Still, many kept their Ethiopian coins and banknotes. Regular Italian coins and banknotes of Banca dItalia circulated after 15 July 1936, special notes with a red overprint were authorized for Italian East Africa on 12 September 1938, and a large quantity was printed
6.
Sudan
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Sudan, also known as North Sudan since South Sudans independence and officially the Republic of the Sudan, is a country in Northern Africa. It is the third largest country in Africa, the River Nile divides the country into eastern and western halves. Before the Sudanese Civil War, South Sudan was part of Sudan, Sudan was home to numerous ancient civilizations, such as the Kingdom of Kush, Kerma, Nobatia, Alodia, Makuria, Meroë and others, most of which flourished along the Nile. During the pre-dynastic period Nubia and Nagadan Upper Egypt were identical, by virtue of its proximity to Egypt, the Sudan participated in the wider history of the Near East inasmuch as it was Christianized by the 6th century, and Islamized in the 15th. As a result of Christianization, the Old Nubian language stands as the oldest recorded Nilo-Saharan language, Sudan was the largest country in Africa and the Arab world until 2011, when South Sudan separated into an independent country, following an independence referendum. Sudan is now the third largest country in Africa and also the third largest country in the Arab world and its capital is Khartoum, the political, cultural and commercial centre of the nation. It is a representative democratic federal republic. The politics of Sudan are regulated by an organization called the National Assembly. The Sudanese legal system is based on Islamic law, the countrys place name Sudan is a name given to a geographical region to the south of the Sahara, stretching from Western Africa to eastern Central Africa. The name derives from the Arabic bilād as-sūdān, or the lands of the Blacks, during the fifth millennium BC migrations from the drying Sahara brought neolithic people into the Nile Valley along with agriculture. The population that resulted from this cultural and genetic mixing developed social hierarchy over the centuries become the Kingdom of Kush at 1700 BC. The Kingdom of Kush was an ancient Nubian state centered on the confluences of the Blue Nile and White Nile, and the Atbarah River and it was established after the Bronze Age collapse and the disintegration of the New Kingdom of Egypt, centered at Napata in its early phase. After King Kashta invaded Egypt in the eighth century BC, the Kushite kings ruled as pharaohs of the Twenty-fifth Dynasty of Egypt for a century before being defeated and driven out by the Assyrians. At the height of their glory, the Kushites conquered an empire that stretched from what is now known as South Kordofan all the way to the Sinai, pharaoh Piye attempted to expand the empire into the Near East, but was thwarted by the Assyrian king Sargon II. Sennacheribs successor Esarhaddon went further, and invaded Egypt itself, deposing Taharqa, Taharqa fled back to his homeland where he died two years later. Egypt became an Assyrian colony, however, king Tantamani, after succeeding Taharqa, Esarhaddon died while preparing to leave the Assyrian capital of Nineveh in order to eject him. However, his successor Ashurbanipal sent an army into southern Egypt and routed Tantamani. During Classical Antiquity, the Nubian capital was at Meroë, in ancient Greek geography, the Meroitic kingdom was known as Ethiopia
7.
European migrant crisis
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And a small number of hostile agents including Islamic State militants. Of the unauthorized entrants arriving in Europe by sea in 2015, 58% were adult males over 18 years of age, 17% were adult females over 18 years of age, and 25% were minors under 18 years of age. According to Eurostat, EU member states received over 1.2 million first-time asylum applications in 2015, four states received around two-thirds of the EUs asylum applications in 2015, with Hungary, Sweden, and Austria being the top recipients of asylum applications per capita. Countries may reinstate internal border controls for a maximum of two months for public policy or national security reasons, by default, the first member state that an asylum seeker entered and in which they have been fingerprinted is responsible. If the asylum seeker then moves to another state, they can be transferred back to the member state they first entered. Further clauses on this topic are found in EU directive 2001/51/EC and this has had the effect that migrants without a visa are not allowed on aircraft, boats or trains going into the Schengen Area, so migrants without a visa have resorted to migrant smugglers. Humanitarian visas are in general not given to refugees who want to apply for asylum, the laws on migrant smuggling ban helping migrants to pass any national border if the migrants are without a visa or other permission to enter. This has caused many airlines to check for visas and refuse passage to migrants without visas, after being refused air passage, many migrants then attempt to travel overland to their destination country. The foreign-born population residing in the EU in 2014 amounts to 33 million people, by comparison, the foreign-born population is 1. 63% of the total population in Japan,7. 7% in Russia, 13% in the United States, 20% in Canada and 27% in Australia. Between 2010 and 2013, around 1.4 million non-EU nationals, excluding asylum seekers and refugees, immigrated into the EU each year using regular means, prior to 2014, the number of asylum applications in the EU peaked in 1992,2001, and 2013. According to the UNHCR, the EU countries with the biggest numbers of recognised refugees at the end of 2014 were France, Germany, Sweden, no European state was among the top ten refugee-hosting countries in the world. Prior to 2014, the number of border crossings detected by Frontex at the external borders of the EU peaked in 2011. According to the UNHCR, the number of displaced people worldwide reached 59.5 million at the end of 2014. Of these 59.5 million,19.5 million were refugees, the rest were persons displaced within their own countries. The 14.4 million refugees under UNHCRs mandate were around 2.7 million more than at the end of 2013, among them, Syrian refugees became the largest refugee group in 2014, overtaking Afghan refugees, who had been the largest refugee group for three decades. Six of the ten largest countries of origin of refugees were African, Somalia, Sudan, South Sudan, the Democratic Republic of Congo, developing countries hosted the largest share of refugees, the least developed countries alone provided asylum to 25% of refugees worldwide. The largest single recipient of new asylum seekers worldwide in 2014 was the Russian Federation, with 274,700 asylum requests, 99% of them lodged by Ukrainians fleeing from the war in Donbass. In 2012, immigrant influx into Greece by land decreased by 95% after the construction of a fence on that part of the Greek–Turkish frontier which does not follow the course of the Maritsa River
8.
Germany
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Germany, officially the Federal Republic of Germany, is a federal parliamentary republic in central-western Europe. It includes 16 constituent states, covers an area of 357,021 square kilometres, with about 82 million inhabitants, Germany is the most populous member state of the European Union. After the United States, it is the second most popular destination in the world. Germanys capital and largest metropolis is Berlin, while its largest conurbation is the Ruhr, other major cities include Hamburg, Munich, Cologne, Frankfurt, Stuttgart, Düsseldorf and Leipzig. Various Germanic tribes have inhabited the northern parts of modern Germany since classical antiquity, a region named Germania was documented before 100 AD. During the Migration Period the Germanic tribes expanded southward, beginning in the 10th century, German territories formed a central part of the Holy Roman Empire. During the 16th century, northern German regions became the centre of the Protestant Reformation, in 1871, Germany became a nation state when most of the German states unified into the Prussian-dominated German Empire. After World War I and the German Revolution of 1918–1919, the Empire was replaced by the parliamentary Weimar Republic, the establishment of the national socialist dictatorship in 1933 led to World War II and the Holocaust. After a period of Allied occupation, two German states were founded, the Federal Republic of Germany and the German Democratic Republic, in 1990, the country was reunified. In the 21st century, Germany is a power and has the worlds fourth-largest economy by nominal GDP. As a global leader in industrial and technological sectors, it is both the worlds third-largest exporter and importer of goods. Germany is a country with a very high standard of living sustained by a skilled. It upholds a social security and universal health system, environmental protection. Germany was a member of the European Economic Community in 1957. It is part of the Schengen Area, and became a co-founder of the Eurozone in 1999, Germany is a member of the United Nations, NATO, the G8, the G20, and the OECD. The national military expenditure is the 9th highest in the world, the English word Germany derives from the Latin Germania, which came into use after Julius Caesar adopted it for the peoples east of the Rhine. This in turn descends from Proto-Germanic *þiudiskaz popular, derived from *þeudō, descended from Proto-Indo-European *tewtéh₂- people, the discovery of the Mauer 1 mandible shows that ancient humans were present in Germany at least 600,000 years ago. The oldest complete hunting weapons found anywhere in the world were discovered in a mine in Schöningen where three 380, 000-year-old wooden javelins were unearthed
9.
Nickel
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Nickel is a chemical element with symbol Ni and atomic number 28. It is a silvery-white lustrous metal with a golden tinge. Nickel belongs to the metals and is hard and ductile. Meteoric nickel is found in combination with iron, a reflection of the origin of elements as major end products of supernova nucleosynthesis. An iron–nickel mixture is thought to compose Earths inner core, use of nickel has been traced as far back as 3500 BCE. Nickel was first isolated and classified as an element in 1751 by Axel Fredrik Cronstedt. The elements name comes from a mischievous sprite of German miner mythology, Nickel, an economically important source of nickel is the iron ore limonite, which often contains 1–2% nickel. Nickels other important ore minerals include garnierite, and pentlandite, major production sites include the Sudbury region in Canada, New Caledonia in the Pacific, and Norilsk in Russia. Nickel is slowly oxidized by air at room temperature and is considered corrosion-resistant, historically, it has been used for plating iron and brass, coating chemistry equipment, and manufacturing certain alloys that retain a high silvery polish, such as German silver. About 6% of world production is still used for corrosion-resistant pure-nickel plating. Nickel-plated objects sometimes provoke nickel allergy, Nickel has been widely used in coins, though its rising price has led to some replacement with cheaper metals in recent years. Nickel is one of four elements that are ferromagnetic around room temperature, alnico permanent magnets based partly on nickel are of intermediate strength between iron-based permanent magnets and rare-earth magnets. The metal is valuable in modern times chiefly in alloys, about 60% of world production is used in nickel-steels, other common alloys and some new superalloys comprise most of the remainder of world nickel use, with chemical uses for nickel compounds consuming less than 3% of production. As a compound, nickel has a number of chemical manufacturing uses. Nickel is a nutrient for some microorganisms and plants that have enzymes with nickel as an active site. Nickel is a metal with a slight golden tinge that takes a high polish. It is one of four elements that are magnetic at or near room temperature. Its Curie temperature is 355 °C, meaning that bulk nickel is non-magnetic above this temperature, the unit cell of nickel is a face-centered cube with the lattice parameter of 0.352 nm, giving an atomic radius of 0.124 nm
10.
Steel
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Steel is an alloy of iron and other elements, primarily carbon, that is widely used in construction and other applications because of its high tensile strength and low cost. Steels base metal is iron, which is able to take on two forms, body centered cubic and face centered cubic, depending on its temperature. It is the interaction of those allotropes with the elements, primarily carbon. In the body-centred cubic arrangement, there is an atom in the centre of each cube. Carbon, other elements, and inclusions within iron act as hardening agents that prevent the movement of dislocations that otherwise occur in the lattices of iron atoms. The carbon in steel alloys may contribute up to 2. 1% of its weight. Steels strength compared to pure iron is possible at the expense of irons ductility. With the invention of the Bessemer process in the mid-19th century and this was followed by Siemens-Martin process and then Gilchrist-Thomas process that refined the quality of steel. With their introductions, mild steel replaced wrought iron, further refinements in the process, such as basic oxygen steelmaking, largely replaced earlier methods by further lowering the cost of production and increasing the quality of the product. Today, steel is one of the most common materials in the world and it is a major component in buildings, infrastructure, tools, ships, automobiles, machines, appliances, and weapons. Modern steel is generally identified by various grades defined by assorted standards organizations, the noun steel originates from the Proto-Germanic adjective stakhlijan, which is related to stakhla. The carbon content of steel is between 0. 002% and 2. 1% by weight for plain iron–carbon alloys and these values vary depending on alloying elements such as manganese, chromium, nickel, iron, tungsten, carbon and so on. Basically, steel is an alloy that does not undergo eutectic reaction. In contrast, cast iron does undergo eutectic reaction, too little carbon content leaves iron quite soft, ductile, and weak. Carbon contents higher than those of steel make an alloy, commonly called pig iron, while iron alloyed with carbon is called carbon steel, alloy steel is steel to which other alloying elements have been intentionally added to modify the characteristics of steel. Common alloying elements include, manganese, nickel, chromium, molybdenum, boron, titanium, vanadium, tungsten, cobalt, and niobium. Additional elements are important in steel, phosphorus, sulfur, silicon, and traces of oxygen, nitrogen, and copper. Alloys with a higher than 2. 1% carbon content, depending on other element content, cast iron is not malleable even when hot, but it can be formed by casting as it has a lower melting point than steel and good castability properties
11.
Coin
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A coin is a small, flat, round piece of metal or plastic used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in quantities at a mint in order to facilitate trade. They are most often issued by a government, Coins are usually metal or alloy, or sometimes made of synthetic materials. Coins made of metal are stored in large quantities as bullion coins. Other coins are used as money in transactions, circulating alongside banknotes. Usually the highest value coin in circulation is less than the lowest-value note. In the last hundred years, the value of circulation coins has occasionally been lower than the value of the metal they contain. Exceptions to the rule of face value being higher than content value also occur for some bullion coins made of copper, silver, or gold, while the Eagle, Maple Leaf, and Sovereign coins have nominal face values, the Krugerrand does not. The first coins were developed independently in Iron Age Anatolia and Archaic Greece, India, Coins spread rapidly in the 6th and 5th centuries BCE, throughout Greece and Persia, and further to the Balkans. Standardized Roman currency was used throughout the Roman Empire, important Roman gold and silver coins were continued into the Middle Ages. Fiat money first arose in medieval China, with the paper money. Early paper money was introduced in Europe in the later Middle Ages, the penny was minted as a silver coin until the 17th century. The first circulating United States coins were cents, produced in 1793, Coins were an evolution of currency systems of the Late Bronze Age, where standard-sized ingots, and tokens such as knife money, were used to store and transfer value. In the late Chinese Bronze Age, standardized cast tokens were made and these were replicas in bronze of earlier Chinese currency, cowrie shells, so they were named Bronze Shell. According to Aristotle and Pollux, the first issuer of coins was Hermodike of Kyme The earliest coins are associated with Iron Age Anatolia. Early electrum coins were not standardized in weight, and in their earliest stage may have been ritual objects, such as badges or medals, issued by priests. The first Lydian coins were made of electrum, a naturally occurring alloy of silver, most of the early Lydian coins include no writing, only an image of a symbolic animal. Anatolian Artemis was the Πὀτνια Θηρῶν, whose symbol was the stag, a small percentage of early Lydian/Greek coins have a legend
12.
Bureau of Engraving and Printing
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The BEP does not produce coins, all coinage is produced by the United States Mint. With production facilities in Washington, DC, and Fort Worth, Texas, the Bureau of Engraving and Printing has its origins in legislation enacted to help fund the Civil War. In July 1861, Congress authorized the Secretary of the Treasury to issue currency in lieu of coins due to the lack of funds needed to support the conflict. The paper notes were essentially government IOUs and were called Demand Notes because they were payable on demand in coin at certain Treasury facilities, at this time the government had no facility for the production of paper money so a private firm produced the Demand Notes in sheets of four. These sheets were then sent to the Treasury Department where dozens of clerks signed the notes and scores of workers cut the sheets, initially, the currency processing operations in the Treasury were not formally organized. For years, however, the operations were known by various semi-official labels, such as the Printing Bureau, Small Note Bureau, Currency Department. It was not until 1874 that the Bureau of Engraving and Printing was officially recognized in legislation with a specific allocation of operating funds for fiscal year 1875. From almost the beginning of its operations, the Bureau of Engraving and Printing designed and printed a variety of products in addition to currency. As early as 1864, the offices which would become the BEP made passports for the State Department. Passports are now produced by the Government Publishing Office, other early items produced by the BEP included various government debt instruments, such as interest-bearing notes, refunding certificates, compound interest Treasury notes, and bonds. The production of stamps began in 1894, and for almost the next century the BEP was the sole producer of postage stamps in the country. The Bureau of Engraving and Printing officially took over production of stamps for the United States government in July 1894. Paper currency was produced on hand presses around 1918, utilizing plates capable of printing four notes per sheet. The Bureau of Engraving and Printing officially took over production of stamps for the United States government in July 1894. The first of the works printed by the BEP was placed on sale on July 18,1894, and by the end of the first year of stamp production, the BEP had printed and delivered more than 2.1 billion stamps. The United States Postal Service switched purely to private postage stamp printers in 2005, starting in 2011 the United States Postal Service in housed all postage stamp printing services. Plate capacity on power presses increased from four to eight notes per sheet in 1918 in order to greatly expanded production requirements related to World War I. Due to this reduction in size, the Bureau was able to convert from eight-note printing plates to twelve-note plates, the redesign effort came about for several reasons, chief among them a reduction in paper costs and improved counterfeit deterrence through better public recognition of currency features
Eritrea
