1.
Dollar
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Dollar is the name of more than twenty currencies, including those of the United States, Canada, Australia, Taiwan, Hong Kong, Singapore, New Zealand, Liberia, Jamaica and Namibia. Generally, one dollar is divided into one hundred cents, on 15 January 1520, the Czech Kingdom of Bohemia began minting coins from silver mined locally in Joachimsthal and marked on reverse with the Czech lion. The coins were called joachimsthaler, which became shortened in common usage to thaler or taler, the German name Joachimsthal literally means Joachims valley or Joachims dale. A later Dutch coin also depicting a lion was called the leeuwendaler or leeuwendaalder, the Dutch Republic produced these coins to accommodate its booming international trade. The leeuwendaler circulated throughout the Middle East and was imitated in several German and Italian cities and this coin was also popular in the Dutch East Indies and in the Dutch New Netherland Colony. It was in throughout the Thirteen Colonies during the 17th. The currencies of Romania and Bulgaria are, to this day, the modern American-English pronunciation of dollar is still remarkably close to the 17th century Dutch pronunciation of daler. Some well-worn examples circulating in the Colonies were known as dog dollars, Spanish pesos – having the same weight and shape – came to be known as Spanish dollars. By the time of the American Revolution, Spanish dollars gained significance because they backed paper money authorized by the individual colonies, common in the Thirteen Colonies, Spanish dollars were even legal tender in one colony, Virginia. On April 2,1792, U. S. Secretary of the Treasury Alexander Hamilton reported to Congress the precise amount of found in Spanish dollar coins in common use in the states. As a result, the United States dollar was defined as a unit of silver weighing 371 4/16th grains. It was specified that the money of account of the United States should be expressed in those same dollars or parts thereof, in an act passed in January 1837, the dollars alloy was set at 15%. Subsequent coins would contain the amount of pure silver as previously. On February 21,1853, the quantity of silver in the coins was reduced. However, the dollars constitutional meaning has remained unchanged through the years, silver was mostly removed from U. S. coinage by 1965 and the dollar became a free-floating fiat currency without a commodity backing defined in terms of real gold or silver. The US Mint continues to make silver $1-denomination coins, but these are not intended for general circulation, there are many quotes in the plays of William Shakespeare referring to dollars as money. This might be supported by a reference to the sum of ten dollars in Macbeth. In 1804, a British five-shilling piece, or crown, was sometimes called dollar and it was an overstruck Spanish eight real coin, the original of which was known as a Spanish dollar
2.
Haiti
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Haiti, officially the Republic of Haiti and formerly called Hayti, is a country located on the island of Hispaniola in the Greater Antilles archipelago of the Caribbean Sea. It occupies the western three-eighths of the island, which it shares with the Dominican Republic, the region was originally inhabited by the indigenous Taíno people. Spain discovered the island on 5 December 1492 during the first voyage of Christopher Columbus across the Atlantic, when Columbus initially landed in Haiti, he had thought he had found India or Asia. On Christmas Day 1492, Columbus flagship the Santa Maria ran aground north of what is now Limonade, the island was named La Española and claimed by Spain, which ruled until the early 17th century. Competing claims and settlements by the French led to the portion of the island being ceded to France. The development of plantations, worked by slaves brought from Africa. Upon his death in a prison in France, he was succeeded by his lieutenant, Jean-Jacques Dessalines, the Haitian Revolution lasted just over a dozen years, and apart from Alexandre Pétion, the first President of the Republic, all the first leaders of government were former slaves. The Citadelle Laferrière is the largest fortress in the Americas, Henri Christophe – former slave and first king of Haiti, Henri I – built it to withstand a possible foreign attack. It has the lowest Human Development Index in the Americas, most recently, in February 2004, a coup détat originating in the north of the country forced the resignation and exile of President Jean-Bertrand Aristide. A provisional government took control with security provided by the United Nations Stabilization Mission in Haiti, the name Haïti comes from the indigenous Taíno language which was the native name given to the entire island of Hispaniola to mean, land of high mountains. The h is silent in French and the ï in Haïti, is a mark used to show that the second vowel is pronounced separately. In English, this rule for the pronunciation is often disregarded, the name Haïti was restored by Haitian revolutionary Jean-Jacques Dessalines as the official name of independent Saint-Domingue, as a tribute to the Amerindian predecessors. The Taíno name for the island was Haiti. The people had migrated over centuries into the Caribbean islands from South America, genetic studies show they were related to the Yanomami of the Amazon Basin. They also originated in Central and South America, after migrating to Caribbean islands, in the 15th century, the Taíno were pushed into the northeast Caribbean islands by the Caribs. In the Taíno societies of the Caribbean islands, the largest unit of organization was led by a cacique, or chief. The caciquedoms were tributary kingdoms, with payment consisting of harvests, Taíno cultural artifacts include cave paintings in several locations in the country. These have become symbols of Haiti and tourist attractions
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.
Birmingham
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Birmingham is a major city and metropolitan borough of West Midlands, England lying on the River Rea, a small river that runs through Birmingham. It is the largest and most populous British city outside London, the city is in the West Midlands Built-up Area, the third most populous urban area in the United Kingdom, with a population of 2,440,986 at the 2011 census. Birminghams metropolitan area is the second most populous in the UK with a population of 3.8 million and this also makes Birmingham the 8th most populous metropolitan area in Europe. By 1791 it was being hailed as the first manufacturing town in the world, perhaps the most important invention in British history, the industrial steam engine, was invented in Birmingham. From the summer of 1940 to the spring of 1943, Birmingham was bombed heavily by the German Luftwaffe in what is known as the Birmingham Blitz. The damage done to the infrastructure, in addition to a deliberate policy of demolition and new building by planners, led to extensive demolition. Today Birminghams economy is dominated by the service sector and its metropolitan economy is the second largest in the United Kingdom with a GDP of $121. 1bn, and its six universities make it the largest centre of higher education in the country outside London. Birmingham is the fourth-most visited city in the UK by foreign visitors, Birminghams sporting heritage can be felt worldwide, with the concept of the Football League and lawn tennis both originating from the city. Its most successful football club Aston Villa has won seven league titles, people from Birmingham are called Brummies, a term derived from the citys nickname of Brum. This originates from the citys name, Brummagem, which may in turn have been derived from one of the citys earlier names. There is a distinctive Brummie accent and dialect, Birminghams early history is that of a remote and marginal area. The main centres of population, power and wealth in the pre-industrial English Midlands lay in the fertile and accessible river valleys of the Trent, the Severn and the Avon. The area of modern Birmingham lay in between, on the upland Birmingham Plateau and within the wooded and sparsely populated Forest of Arden. Birmingham as a settlement dates from the Anglo-Saxon era, within a century of the charter Birmingham had grown into a prosperous urban centre of merchants and craftsmen. By 1327 it was the third-largest town in Warwickshire, a position it would retain for the next 200 years, by 1700 Birminghams population had increased fifteenfold and the town was the fifth-largest in England and Wales. The importance of the manufacture of goods to Birminghams economy was recognised as early as 1538. Equally significant was the emerging role as a centre for the iron merchants who organised finance, supplied raw materials. The 18th century saw this tradition of free-thinking and collaboration blossom into the phenomenon now known as the Midlands Enlightenment
5.
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
6.
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
7.
Port-au-Prince
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Port-au-Prince is the capital and most populous city of Haiti. The citys population was estimated at 987,310 in 2015 with the area estimated at a population of 2,618,894. The metropolitan area is defined by the IHSI as including the communes of Port-au-Prince, Delmas, Cite Soleil, Tabarre, Carrefour, and Pétion-Ville. The city of Port-au-Prince is on the Gulf of Gonâve, the bay on which the city lies and it was first incorporated under French colonial rule in 1749. The citys layout is similar to that of an amphitheatre, commercial districts are near the water, the city was catastrophically affected by a devastating earthquake in 2010, with large numbers of structures damaged or destroyed. Haitis government estimated the toll to be 230,000. It is said that a captain named de Saint-André named the area in 1706, after he sailed into the bay in a ship named Le Prince, hence Port-au-Prince to mean, Port of the Le Prince. However, the port and the region continued to be known as Hôpital. It was later renamed back to Port-au-Prince by Jacques I, Emperor of Haiti, when Haiti was divided between a kingdom in the north and a republic in the south, Port-au-Prince was the capital of the republic, under the leadership of Alexandre Pétion. Henri Christophe renamed the city Port-aux-Crimes after the assassination of Jacques I at Pont Larnage, prior to the arrival of Christopher Columbus, the island of Hispaniola was inhabited by people known as the Taíno, who arrived in approximately 2600 BC in large dugout canoes. They are believed to come primarily from what is now eastern Venezuela, by the time Columbus arrived in 1492 AD, the region was under the control of Bohechio, Taíno cacique Xaragua. He, like his predecessors, feared settling too close to the coast, such settlements would have proven to be tempting targets for the Caribes, instead, the region served as a hunting ground. The population of the region was approximately 400,000 at the time, with the arrival of the Spaniards, the Amerindians were forced to accept a protectorate, and Bohechio, childless at death, was succeeded by his sister, Anacaona, wife of the cacique Caonabo. The Spanish insisted on larger tributes, eventually, the Spanish colonial administration decided to rule directly, and in 1503, Nicolas Ovando, then governor, set about to put an end to the régime headed by Anacaona. He invited her and other leaders to a feast. Anacaona was spared, only to be hanged publicly some time later, through violence and murders, the Spanish settlers decimated the native population. Not long thereafter, Ovando founded Santa Maria del Puerto, the latter was first burned by French explorers in 1535, then again in 1592 by the English. These assaults proved to be too much for the Spanish colonial administration, around 1650, French pirates, or flibustiers, running out of room on the Île de la Tortue began to arrive on the coast, and established a colony at Trou-Borded
8.
Jean-Jacques Dessalines
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Jean-Jacques Dessalines was a leader of the Haitian Revolution and the first ruler of an independent Haiti under the 1805 constitution. Initially regarded as governor-general, Dessalines later named himself Emperor Jacques I of Haiti and he is regarded as a founding father of Haiti. Dessalines served as an officer in the French army, when the colony was fending off Spanish and British incursions, later he rose to become a commander in the revolt against France. As Toussaint Louvertures principal lieutenant, he led many successful engagements, after the betrayal and capture of Toussaint Louverture in 1802, Dessalines became the leader of the revolution. He defeated a French army at the Battle of Vertières in 1803, declaring Haiti an independent nation in 1804, Dessalines was chosen by a council of generals to assume the office of governor-general. He ordered the 1804 Haiti massacre of the white Haitian minority, in September 1804, he proclaimed himself emperor and ruled in that capacity until being assassinated in 1806. Dessalines was born in Cormier, a plantation near Grande Riviere du Nord, the identity of his parents, as well as his region of origin in Africa, are not known, but most slaves trafficked to Haiti came from west and central West Africa. Dessalines had two brothers, Louis and Joseph Duclos, who took the name Dessalines. Henry on 1 May 1811 and was killed by the revolutionaries at Cap-Henri on 10 October 1820, working in the sugarcane fields as a laborer, Dessalines rose to the rank of commandeur, or foreman. He worked on the plantation of a Frenchman named Henri Duclos until he was about 30 years old, during this time, Dessalines was known as Jean-Jacques Duclos, his last name was assigned by his master, as was customary among slave holders. Duclos was then bought by a black man named Dessalines. From then on he was called Jean-Jacques Dessalines, Jean-Jacques Dessalines worked for him for about three years until the slave uprising of 1791, which spread across the Plaine du Nord. Dessalines was embittered towards both whites and gens de couleur, after the defeat of French royalists during the Haitian Revolution, he ordered the killing of all royalists to ensure that Saint-Domingue would be a nation. Yet, after declaring himself Governor-for-Life in 1804, Jean-Jacques Dessalines was still willing to take his old master Dessalines into his house, in 1791, Jean-Jacques Dessalines joined the slave rebellion of the northern plains led by Jean François Papillon and Georges Biassou. This rebellion was the first action of what would become the Haitian Revolution, Dessalines became a lieutenant in Papillons army and followed him to Santo Domingo, where he enlisted to serve Spains military forces against the French colony of Saint-Domingue. It was then that Dessalines met the military commander Toussaint Bréda, a mature man also born into slavery. These men wanted above all to defeat slavery, in 1794, after the French declared an end to slavery, Toussaint Louverture switched allegiances to the French. He fought for the French Republic against both the Spanish and British, Dessalines followed, becoming a chief lieutenant to Toussaint Louverture and rising to the rank of brigadier general by 1799
9.
Bermudian dollar
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The Bermudian dollar is the official currency of the British Overseas Territory of Bermuda. It is subdivided into 100 cents, the Bermudian dollar is not normally traded outside of Bermuda, and is pegged to the United States dollar at a one-to-one ratio. Both currencies circulate in Bermuda on an equal basis, for nearly four hundred years Spanish dollars, known as pieces of eight were in widespread use on the worlds trading routes, including the Caribbean region. However, following the wars in Latin America, the source of these silver trade coins. The United Kingdom had adopted a successful gold standard in 1821. Because of this, the conversion had the effect in many colonies. Remedial legislation had to be introduced in 1838 so as to change over to the more realistic rating of $1 = 4s 2d. Contrary to expectations, and unlike in the Bahamas where US dollars circulated concurrently with sterling, the Spanish dollars fell away in the 1850s but returned again in the 1870s following the international silver crisis of 1873. In 1874, the Bermuda merchants agreed unanimously to decline to accept the heavy imports of U. S. currency except at a heavy discount, and in 1876, legislation was passed to demonetise the silver dollars for fear of them returning. In 1882, the legal tender act demonetised the gold doubloon, which had in effect been the real standard in Bermuda, and this left pounds, shillings. The pound sterling remained the currency of Bermuda until 1970. With U. S. and Canadian coins regularly appearing in circulation in Bermuda, on 6 February 1970, Bermuda introduced a new decimal currency in the form of a dollar. The nascent Bermuda dollars circulated in conjunction with the new British decimal coinage a year before it was introduced in the United Kingdom, by adopting decimalisation early, Bermuda was also able place orders for the coinage from the Royal Mint before other Commonwealth countries seeking to decimalise could. The link between the Bermudian dollar and the sterling was not broken until 31 July 1972, which allowed Bermuda to align to a one-to-one exchange rate with that of the United States. The decision for Bermuda to peg its dollar to the U. S. dollar added convenience for the multitude of American tourists and businesses with whom Bermuda largely relied on. Since 1972, Bermuda law has required that local businesses charge prices in Bermudian dollars which, if paid in US dollars, only banks are legally allowed to exchange Bermudian dollars into U. S. dollars or other currencies, subject to a 1% Foreign Currency Purchase Tax. Prior to decimalisation and conversion to the dollar, the Government of Bermuda did not issue its own coins, other than the commemorative Bermuda crowns, in 1970, the Bermuda Monetary Authority introduced coinage with denominations of 1,5,10,25, and 50 cents. From its inception, the 1-cent coin was out of bronze until 1988
10.
Canada
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Canada is a country in the northern half of North America. Canadas border with the United States is the worlds longest binational land border, the majority of the country has a cold or severely cold winter climate, but southerly areas are warm in summer. Canada is sparsely populated, the majority of its territory being dominated by forest and tundra. It is highly urbanized with 82 per cent of the 35.15 million people concentrated in large and medium-sized cities, One third of the population lives in the three largest cities, Toronto, Montreal and Vancouver. Its capital is Ottawa, and other urban areas include Calgary, Edmonton, Quebec City, Winnipeg. Various aboriginal peoples had inhabited what is now Canada for thousands of years prior to European colonization. Pursuant to the British North America Act, on July 1,1867, the colonies of Canada, New Brunswick and this began an accretion of provinces and territories to the mostly self-governing Dominion to the present ten provinces and three territories forming modern Canada. With the Constitution Act 1982, Canada took over authority, removing the last remaining ties of legal dependence on the Parliament of the United Kingdom. Canada is a parliamentary democracy and a constitutional monarchy, with Queen Elizabeth II being the head of state. The country is officially bilingual at the federal level and it is one of the worlds most ethnically diverse and multicultural nations, the product of large-scale immigration from many other countries. Its advanced economy is the eleventh largest in the world, relying chiefly upon its abundant natural resources, Canadas long and complex relationship with the United States has had a significant impact on its economy and culture. Canada is a country and has the tenth highest nominal per capita income globally as well as the ninth highest ranking in the Human Development Index. It ranks among the highest in international measurements of government transparency, civil liberties, quality of life, economic freedom, Canada is an influential nation in the world, primarily due to its inclusive values, years of prosperity and stability, stable economy, and efficient military. While a variety of theories have been postulated for the origins of Canada. In 1535, indigenous inhabitants of the present-day Quebec City region used the word to direct French explorer Jacques Cartier to the village of Stadacona, from the 16th to the early 18th century Canada referred to the part of New France that lay along the St. Lawrence River. In 1791, the area became two British colonies called Upper Canada and Lower Canada collectively named The Canadas, until their union as the British Province of Canada in 1841. Upon Confederation in 1867, Canada was adopted as the name for the new country at the London Conference. The transition away from the use of Dominion was formally reflected in 1982 with the passage of the Canada Act, later that year, the name of national holiday was changed from Dominion Day to Canada Day
11.
Saint Pierre and Miquelon
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It is the only remnant of the former colonial empire of New France that still remains under French control, with an area of 242 km2 and a population of 6,080 at the January 2011 census. The islands are situated at the entrance of Fortune Bay, which extends into the southwestern coast of Newfoundland and they are 3,819 kilometres from Brest, the nearest point in Metropolitan France, but only 25 kilometres from the Burin Peninsula of Newfoundland. Saint-Pierre is French for Saint Peter, the saint of fishermen. The present name of Miquelon was first noted in the form of Micquelle in the Basque sailor Martin de Hoyarçabals navigational pilot for Newfoundland and it has been claimed that the name Miquelon is a Basque form of Michael, Mikel and Mikels are usually named Mikelon in the Basque Country. Therefore, from Mikelon it may have written in the French way with a q instead of a k. It appears that this is a common form in that language. The adjoined islands name of Langlade is said to be an adaptation of lîle à lAnglais, the first European encounter with Saint-Pierre and Miquelon was in 1520, by the Portuguese João Álvares Fagundes. They were made a French possession in 1536 by Jacques Cartier on behalf of the King of France, in 1670, during Jean Talons tenure as Intendant of New France, a French officer annexed the islands when he found a dozen French fishermen camped there. The British Royal Navy soon began to harass the French, pillaging their camps and ships, by the early 1700s, the islands were again uninhabited, and were ceded to the British by the Treaty of Utrecht which ended the War of the Spanish Succession in 1713. Under the terms of the Treaty of Paris, which put an end to the Seven Years War, France ceded all its North American possessions, France also maintained fishing rights on the coasts of Newfoundland. With France being allied with the Americans during the American Revolutionary War, Britain invaded and razed the colony in 1778, in 1793, the British landed in Saint-Pierre and, the following year, expelled the French population, and tried to install British settlers. The British colony was in turn sacked by French troops in 1796, the Treaty of Amiens of 1802 returned the islands to France, but Britain reoccupied them when hostilities recommenced the next year. The Treaty of Paris gave them back to France, though Britain occupied them yet again during the Hundred Days War, France then reclaimed the then uninhabited islands in which all structures and buildings had been destroyed or fallen into disrepair. The islands were resettled in 1816, the settlers were mostly Basques, Bretons and Normans, who were joined by various other elements, particularly from the nearby island of Newfoundland. Only around the middle of the century did increased fishing bring a certain prosperity to the little colony, during the early 1910s, the colony suffered severely as a result of unprofitable fisheries, and large numbers of its people emigrated to Nova Scotia and Quebec. The draft imposed on all inhabitants of conscript age after the beginning of World War I crippled the fisheries, which could not be processed by the older people. About 400 men from the served in the French military during World War I. The increase in the adoption of steam trawlers in the fisheries also contributed to the reduction in employment opportunities, smuggling had always been an important economic activity in the islands, but it became especially prominent in the 1920s with the institution of prohibition in the United States
12.
Danish krone
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The krone is the official currency of Denmark, Greenland and the Faroe Islands, introduced on 1 January 1875. Both the ISO code DKK and currency sign kr. are in use, the former precedes the value. The currency is referred to as the Danish crown in English. Historically, krone coins have been minted in Denmark since the 17th century, one krone is subdivided into 100 øre, the name øre possibly deriving from Latin aureus meaning gold coin. Altogether there are eleven denominations of the krone, with the smallest being the 50 øre coin, formerly there were more øre coins, but those were discontinued due to inflation. The krone is pegged to the euro via the ERM II, the oldest known Danish coin is a penny struck AD 825–840, but the earliest systematic minting produced the so-called korsmønter or cross coins minted by Harald Bluetooth in the late 10th century. Organised minting in Denmark was introduced on a larger scale by Canute the Great in the 1020s, for almost 1,000 years, Danish kings – with a few exceptions – have issued coins with their name, monogram and/or portrait. Taxes were sometimes imposed via the coinage, e. g. by the substitution of coins handed in by new coins handed out with a lower silver content. Danish coinage was based on the Carolingian silver standard. Periodically, the value of the minted coins was reduced. This was mainly done to generate income for the monarch and/or the state, as a result of the debasement, the public started to lose trust in the respective coins. Danish currency was overhauled several times in attempts to restore public trust in the coins, in 1619 a new currency was introduced in Denmark, the krone. One krone had the value of 1 1/2 Danish Rigsdaler Species accounting for 96 Kroneskillinger, later for 144 common Skillings, until the late 18th century, the krone was a denomination equal to 8 mark, a subunit of the Danish rigsdaler. A new krone was introduced as the currency of Denmark in January 1875 and it replaced the rigsdaler at a rate of 2 kroner =1 rigsdaler. This placed the krone on the standard at a rate of 2480 kroner =1 kilogram fine gold. The latter part of the 18th century and much of the 19th century saw expanding economic activity, consequently, banknotes were increasingly used instead of coins. The introduction of the new krone was a result of the Scandinavian Monetary Union, the parties to the union were the three Scandinavian countries, where the name was krone in Denmark and Norway and krona in Sweden, a word which in all three languages literally means crown. The three currencies were on the standard, with the krone/krona defined as 1⁄2480 of a kilogram of pure gold
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