Lebanese pound

The Lebanese pound is the currency of Lebanon. It used to be divided into 100 piastres but high inflation in the Lebanese Civil War has eliminated the need for subdivisions; the plural form of lira, as used on the currency, is either lirat or the same, whilst there were four forms for qirsh: the dual qirshān, the plural qurush used with numbers 3–10, the accusative singular qirshan used with 11–99, or the genitive singular qirshi used with multiples of 100. In both cases, the number determines. Before the Second World War, the Arabic spelling of the subdivision was غرش. All of Lebanon's coins and banknotes are bilingual in French. Since December 1997 the rate of the pound has been fixed at 1515.02 pounds per US$. Since August 2019, the pressure on the peg has started; the two-rate market is a textbook case of weakening Central Bank reserves that are not able to defend the official exchange rate. Continuous financial pressures driven by unsustainable sovereign debt, high trade deficit and deposit outflows due to loss of confidence are threatening the peg for the first time since 1992.

Since January 10th 2020 the rate has been going back down to normal rates due to The central Bank Of Lebanon and Exchange Houses devising plans and reaching deals in order to stabilize the Lira. With a large amount of citizens rushing to sell their dollars as trust in the pound rises again. Before World War I, the Ottoman lira was used. In 1918, after the fall of the Ottoman Empire, the currency became the Egyptian pound. Upon gaining control of Syria and Lebanon, the French replaced the Egyptian pound with a new currency for Syria and Lebanon, the Syrian pound, linked to the French franc at a value of 1 pound = 20 francs. Lebanon issued its own coins from 1924 and banknotes from 1925. In 1939, the Lebanese currency was separated from that of Syria, though it was still linked to the French franc and remained interchangeable with Syrian money. In 1941, following France's defeat by Nazi Germany, the currency was linked instead to the British pound sterling at a rate of 8.83 Lebanese pounds = 1 pound sterling.

A link to the French franc was restored after the war but was abandoned in 1949. Before the Lebanese Civil War, 1 U. S. dollar was worth 3 pounds. During the Lebanese Civil War the value decreased until 1992, when one dollar was worth over 2500 pounds. Subsequently the value increased again, since December 1997 the rate of the pound has been fixed at 1507.5 pounds per US$. Lebanon's first coins were issued in 1924 in denominations of 2 and 5 girush with the French denominations given in "piastres syriennes". Issues did not include the word "syriennes" and were in denominations of ​1⁄2, 1, 2, ​2 1⁄2, 5, 10, 25 and 50 girsha. During World War II, rather crude ​1⁄2, 1 and ​2 1⁄2 girsh coins were issued. After the war, the Arabic spelling was changed from girsh to qirsh. Coins were issued in the period 1952 to 1986 in denominations of 1, ​2 1⁄2, 5, 10, 25 and 50 qirsh and 1 lira. No coins were issued between 1994, when the current series of coins was introduced. Coins in current use are: Lebanon's first banknotes were issued by the Banque du Syrie et Grand-Liban in 1925.

Denominations ran from 25 girsha through to 100 pounds. In 1939, the bank's name was changed to the Bank of Lebanon; the first 250-pound notes appeared that year. Between 1942 and 1950, the government issued "small change" paper money in denominations of 5, 10, 25 and 50 girsh or qirsh. After 1945, the Bank of Syria and Lebanon continued to issue paper money for Lebanon but the notes were denominated in "Lebanese pounds" to distinguish them from Syrian notes. Notes for 1, 5, 10, 25, 50 and 100 pounds were issued; the Banque du Liban was established by the Code of Money and Credit on 1 April 1964. On 1 August 1963 decree No. 13.513 of the “Law of References: Banque Du Liban 23 Money and Credit” granted the Bank of Lebanon the sole right to issue notes in denominations of 1, 5, 10, 25, 50, 100, 250 pounds, expressed in Arabic on the front, French on the back. Higher denominations were issued in the 1980s and 1990s as inflation drastically reduced the currency's value. Banknotes in the current use are: All current notes feature an Arabic side with the value in Arabic script numerals of large size.

The other side is in French with the serial number in both Arabic and Latin script and in bar code below the latter one. Economy of Lebanon Banque du Liban Historical and current banknotes of Lebanon

List of Corinthian League (football) seasons

The Corinthian League ran for eighteen seasons between its formation in 1945 and its merger into the Athenian League in 1963. Seven new clubs joined the league for the 1946–47 season: Bedford Avenue Carshalton Athletic Eastbourne Edgware Town Hastings & St Leonards Hounslow Town Uxbridge One new club, Chesham United, joined the league for the 1947–48 season. One new club, joined the league for the 1948–49 season. Hastings & St Leonards resigned after a single match due to difficulties with their ground, their record was expunged. One new club, joined the league for the 1949–50 season. Two new clubs joined the league for the 1950–51 season: Maidstone United Tilbury One new club, joined the league for the 1954–55 season. Two new clubs joined the league for the 1956–57 season: Dorking Wembley Two new clubs joined the league for the 1958–59 season: Dagenham Horsham One new club, joined the league for the 1958–59 season. Two new clubs joined the league for the 1959–60 season: Letchworth Town Wokingham Town

Eduard Bernstein

Eduard Bernstein was a German social-democratic Marxist theorist and politician. A member of the Social Democratic Party, Bernstein had held close association to Karl Marx and Friedrich Engels, but he saw flaws in Marxist thinking and began to criticize views held by Marxism when he investigated and challenged the Marxist materialist theory of history, he rejected significant parts of Marxist theory that were based upon Hegelian metaphysics and rejected the Hegelian dialectical perspective. Bernstein distinguished between mature Marxism; the former, exemplified by Marx and Engels's 1848 The Communist Manifesto, he opposed for what he regarded as its violent Blanquist tendencies, embracing the latter, holding that socialism could be achieved by peaceful means through incremental legislative reform in democratic societies. Bernstein was born in Schöneberg to Jewish parents who were active in the Reform Temple on the Johannistrasse where services were performed on Sunday, his father was a locomotive driver.

From 1866 to 1878, he was employed in banks as a banker's clerk after leaving school. Bernstein's political career began in 1872, when he joined a socialist party with Marxist tendencies, known formally as the Sozialdemokratische Arbeiterpartei Eisenacher Programms and soon became known as an activist. Bernstein's party contested two elections against a rival socialist party, the Lassalleans, but in both elections neither party was able to win a significant majority of the leftist vote. Bernstein, together with August Bebel and Wilhelm Liebknecht, prepared the Einigungsparteitag with the Lassalleans in Gotha in 1875. Karl Marx's famous Critique of the Gotha Program criticized what he saw as a Lassallean victory over the Eisenachers whom he favoured. In the Reichstag elections of 1877, the German Social Democratic Party gained 493,000 votes. However, two assassination attempts on Kaiser Wilhelm I the next year provided Chancellor Otto von Bismarck with a pretext for introducing a law banning all socialist organizations and publications.

There had been no Social Democratic involvement in either assassination attempt, but the popular reaction against "enemies of the Reich" induced a compliant Reichstag to approve Bismarck's Anti-Socialist Laws. Bismarck's strict anti-socialist legislation was passed on 12 October 1878. For nearly all practical purposes, the SPD was outlawed and throughout Germany it was suppressed. However, it was still possible for Social Democrats to campaign as individuals for election to the Reichstag and they did so despite the severe persecution to which it was subjected the party increased its electoral success, gaining 550,000 votes in 1884 and 763,000 in 1887; the vehemence of Bernstein's opposition to the government of Bismarck made it desirable for him to leave Germany. Shortly before the Anti-Socialist Laws came into effect, Bernstein went into exile in Zurich, accepting a position as private secretary for social democratic patron Karl Höchberg, a wealthy supporter of social democracy. A warrant subsequently issued for his arrest ruled out any possibility of his returning to Germany and he was to remain in exile for more than twenty years.

In 1888, Bismarck convinced the Swiss government to expel a number of important members of German social democracy from its country and so Bernstein relocated to London, where he associated with Friedrich Engels and Karl Kautsky. It was soon after his arrival in Switzerland. In 1880, he accompanied Bebel to London in order to clear up a misunderstanding concerning his involvement with an article published by Höchberg and denounced by Marx and Engels as being "chock-full of bourgeois and petty bourgeois ideas"; the visit was a success and Engels in particular was impressed by Bernstein's zeal and his ideas. Back in Zurich, Bernstein became active in working for Der Sozialdemokrat and succeeded Georg von Vollmar as the paper's editor, a job he was to have for the next ten years, it was during these years between 1880 and 1890 that Bernstein established his reputation as a major party theoretician and a Marxist of impeccable orthodoxy. In this, he was helped by the close personal and professional relationship he established with Engels.

This relationship owed much to the fact that he shared Engels's strategic vision and accepted most of the particular policies which in Engels's opinion those ideas entailed. In 1887, the German government persuaded the Swiss authorities to ban Der Sozialdemokrat. Bernstein moved to London, his relationship with Engels soon developed into friendship. He communicated with various English socialist organizations, notably the Fabian Society and Henry Hyndman's Social Democratic Federation. In years, his opponents claimed that his "revisionism" was due to his having come to see the world "through English spectacles". However, Bernstein denied the charges. In 1895, Engels was distressed when he discovered that his introduction to a new edition of The Class Struggles in France, written by Marx in 1850, had been edited by Bernstein and Kautsky in a manner which left the impression that he had become a proponent of a peaceful road to socialism. On 1 April 1895, four months before his death, Engels wrote to Kautsky: I was ama