Belgium the Kingdom of Belgium, is a country in Western Europe. It is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to the southwest, the North Sea to the northwest, it has a population of more than 11.4 million. The capital and largest city is Brussels; the sovereign state is a federal constitutional monarchy with a parliamentary system. Its institutional organisation is structured on both regional and linguistic grounds, it is divided into three autonomous regions: Flanders in the north, Wallonia in the south, the Brussels-Capital Region. Brussels is the smallest and most densely populated region, as well as the richest region in terms of GDP per capita. Belgium is home to two main linguistic groups or Communities: the Dutch-speaking Flemish Community, which constitutes about 59 percent of the population, the French-speaking Community, which comprises about 40 percent of all Belgians. A small German-speaking Community, numbering around one percent, exists in the East Cantons.
The Brussels-Capital Region is bilingual, although French is the dominant language. Belgium's linguistic diversity and related political conflicts are reflected in its political history and complex system of governance, made up of six different governments. Belgium was part of an area known as the Low Countries, a somewhat larger region than the current Benelux group of states that included parts of northern France and western Germany, its name is derived after the Roman province of Gallia Belgica. From the end of the Middle Ages until the 17th century, the area of Belgium was a prosperous and cosmopolitan centre of commerce and culture. Between the 16th and early 19th centuries, Belgium served as the battleground between many European powers, earning the moniker the "Battlefield of Europe", a reputation strengthened by both world wars; the country emerged in 1830 following the Belgian Revolution. Belgium participated in the Industrial Revolution and, during the course of the 20th century, possessed a number of colonies in Africa.
The second half of the 20th century was marked by rising tensions between the Dutch-speaking and the French-speaking citizens fueled by differences in language and culture and the unequal economic development of Flanders and Wallonia. This continuing antagonism has led to several far-reaching reforms, resulting in a transition from a unitary to a federal arrangement during the period from 1970 to 1993. Despite the reforms, tensions between the groups have remained, if not increased. Unemployment in Wallonia is more than double that of Flanders. Belgium is one of the six founding countries of the European Union and hosts the official seats of the European Commission, the Council of the European Union, the European Council, as well as a seat of the European Parliament in the country's capital, Brussels. Belgium is a founding member of the Eurozone, NATO, OECD, WTO, a part of the trilateral Benelux Union and the Schengen Area. Brussels hosts several of the EU's official seats as well as the headquarters of many major international organizations such as NATO.
Belgium is a developed country, with an advanced high-income economy. It has high standards of living, quality of life, education, is categorized as "very high" in the Human Development Index, it ranks as one of the safest or most peaceful countries in the world. The name "Belgium" is derived from Gallia Belgica, a Roman province in the northernmost part of Gaul that before Roman invasion in 100 BC, was inhabited by the Belgae, a mix of Celtic and Germanic peoples. A gradual immigration by Germanic Frankish tribes during the 5th century brought the area under the rule of the Merovingian kings. A gradual shift of power during the 8th century led the kingdom of the Franks to evolve into the Carolingian Empire; the Treaty of Verdun in 843 divided the region into Middle and West Francia and therefore into a set of more or less independent fiefdoms which, during the Middle Ages, were vassals either of the King of France or of the Holy Roman Emperor. Many of these fiefdoms were united in the Burgundian Netherlands of the 15th centuries.
Emperor Charles V extended the personal union of the Seventeen Provinces in the 1540s, making it far more than a personal union by the Pragmatic Sanction of 1549 and increased his influence over the Prince-Bishopric of Liège. The Eighty Years' War divided the Low Countries into the northern United Provinces and the Southern Netherlands; the latter were ruled successively by the Spanish and the Austrian Habsburgs and comprised most of modern Belgium. This was the theatre of most Franco-Spanish and Franco-Austrian wars during the 17th and 18th centuries. Following the campaigns of 1794 in the French Revolutionary Wars, the Low Countries—including territories that were never nominally under Habsburg rule, such as the Prince-Bishopric of Liège—were annexed by the French First Republic, ending Austrian rule in the region; the reunification of the Low Countries as the United Kingdom of the Netherlands occurred at the dissolution of the First French Empire in 1815, after the defeat of Napo
A mineral is, broadly speaking, a solid chemical compound that occurs in pure form. A rock may consist of a single mineral, or may be an aggregate of two or more different minerals, spacially segregated into distinct phases. Compounds that occur only in living beings are excluded, but some minerals are biogenic and/or are organic compounds in the sense of chemistry. Moreover, living beings synthesize inorganic minerals that occur in rocks. In geology and mineralogy, the term "mineral" is reserved for mineral species: crystalline compounds with a well-defined chemical composition and a specific crystal structure. Minerals without a definite crystalline structure, such as opal or obsidian, are more properly called mineraloids. If a chemical compound may occur with different crystal structures, each structure is considered different mineral species. Thus, for example and stishovite are two different minerals consisting of the same compound, silicon dioxide; the International Mineralogical Association is the world's premier standard body for the definition and nomenclature of mineral species.
As of November 2018, the IMA recognizes 5,413 official mineral species. Out of more than 5,500 proposed or traditional ones; the chemical composition of a named mineral species may vary somewhat by the inclusion of small amounts of impurities. Specific varieties of a species sometimes have official names of their own. For example, amethyst is a purple variety of the mineral species quartz; some mineral species can have variable proportions of two or more chemical elements that occupy equivalent positions in the mineral's structure. Sometimes a mineral with variable composition is split into separate species, more or less arbitrarily, forming a mineral group. Besides the essential chemical composition and crystal structure, the description of a mineral species includes its common physical properties such as habit, lustre, colour, tenacity, fracture, specific gravity, fluorescence, radioactivity, as well as its taste or smell and its reaction to acid. Minerals are classified by key chemical constituents.
Silicate minerals comprise 90% of the Earth's crust. Other important mineral groups include the native elements, oxides, carbonates and phosphates. One definition of a mineral encompasses the following criteria: Formed by a natural process. Stable or metastable at room temperature. In the simplest sense, this means. Classical examples of exceptions to this rule include native mercury, which crystallizes at −39 °C, water ice, solid only below 0 °C. Modern advances have included extensive study of liquid crystals, which extensively involve mineralogy. Represented by a chemical formula. Minerals are chemical compounds, as such they can be described by fixed or a variable formula. Many mineral groups and species are composed of a solid solution. For example, the olivine group is described by the variable formula 2SiO4, a solid solution of two end-member species, magnesium-rich forsterite and iron-rich fayalite, which are described by a fixed chemical formula. Mineral species themselves could have a variable composition, such as the sulfide mackinawite, 9S8, a ferrous sulfide, but has a significant nickel impurity, reflected in its formula.
Ordered atomic arrangement. This means crystalline. An ordered atomic arrangement gives rise to a variety of macroscopic physical properties, such as crystal form and cleavage. There have been several recent proposals to classify amorphous substances as minerals; the formal definition of a mineral approved by the IMA in 1995: "A mineral is an element or chemical compound, crystalline and, formed as a result of geological processes." Abiogenic. Biogenic substances are explicitly excluded by the IMA: "Biogenic substances are chemical compounds produced by biological processes without a geological component and are not regarded as minerals. However, if geological processes were involved in the genesis of the compound the product can be accepted as a mineral."The first three general characteristics are less debated than the last two. Mineral classification schemes and their definitions are evolving to match recent advances in mineral science. Recent changes have included the addition of an organic class, in both the new Dana and the Strunz classification schemes.
The organic class includes a rare group of minerals with hydrocarbons. The IMA Commission on New Minerals and Mineral Names adopted in 2009 a hierarchical scheme for the naming and classification of mineral groups and group names and established seven commissions and four working groups to review and classify minerals into an official listing of their published names. According to these new r
Diamond is a solid form of the element carbon with its atoms arranged in a crystal structure called diamond cubic. At room temperature and pressure, another solid form of carbon known as graphite is the chemically stable form, but diamond never converts to it. Diamond has the highest hardness and thermal conductivity of any natural material, properties that are utilized in major industrial applications such as cutting and polishing tools, they are the reason that diamond anvil cells can subject materials to pressures found deep in the Earth. Because the arrangement of atoms in diamond is rigid, few types of impurity can contaminate it. Small numbers of defects or impurities color diamond blue, brown, purple, orange or red. Diamond has high optical dispersion. Most natural diamonds have ages between 1 billion and 3.5 billion years. Most were formed at depths between 150 and 250 kilometers in the Earth's mantle, although a few have come from as deep as 800 kilometers. Under high pressure and temperature, carbon-containing fluids dissolved minerals and replaced them with diamonds.
Much more they were carried to the surface in volcanic eruptions and deposited in igneous rocks known as kimberlites and lamproites. Synthetic diamonds can be grown from high-purity carbon under high pressures and temperatures or from hydrocarbon gas by chemical vapor deposition. Imitation diamonds can be made out of materials such as cubic zirconia and silicon carbide. Natural and imitation diamonds are most distinguished using optical techniques or thermal conductivity measurements. Diamond is a solid form of pure carbon with its atoms arranged in a crystal. Solid carbon comes in different forms known as allotropes depending on the type of chemical bond; the two most common allotropes of pure carbon are graphite. In graphite the bonds are sp2 orbital hybrids and the atoms form in planes with each bound to three nearest neighbors 120 degrees apart. In diamond they are sp3 and the atoms form tetrahedra with each bound to four nearest neighbors. Tetrahedra are rigid, the bonds are strong, of all known substances diamond has the greatest number of atoms per unit volume, why it is both the hardest and the least compressible.
It has a high density, ranging from 3150 to 3530 kilograms per cubic metre in natural diamonds and 3520 kg/m³ in pure diamond. In graphite, the bonds between nearest neighbors are stronger but the bonds between planes are weak, so the planes can slip past each other. Thus, graphite is much softer than diamond. However, the stronger bonds make graphite less flammable. Diamonds have been adapted for many uses because of the material's exceptional physical characteristics. Most notable are its extreme hardness and thermal conductivity, as well as wide bandgap and high optical dispersion. Diamond's ignition point is 720 -- 800 °C in 850 -- 1000 °C in air; the equilibrium pressure and temperature conditions for a transition between graphite and diamond is well established theoretically and experimentally. The pressure changes linearly between 1.7 GPa at 0 K and 12 GPa at 5000 K. However, the phases have a wide region about this line where they can coexist. At normal temperature and pressure, 20 °C and 1 standard atmosphere, the stable phase of carbon is graphite, but diamond is metastable and its rate of conversion to graphite is negligible.
However, at temperatures above about 4500 K, diamond converts to graphite. Rapid conversion of graphite to diamond requires pressures well above the equilibrium line: at 2000 K, a pressure of 35 GPa is needed. Above the triple point, the melting point of diamond increases with increasing pressure. At high pressures and germanium have a BC8 body-centered cubic crystal structure, a similar structure is predicted for carbon at high pressures. At 0 K, the transition is predicted to occur at 1100 GPa; the most common crystal structure of diamond is called diamond cubic. It is formed of unit cells stacked together. Although there are 18 atoms in the figure, each corner atom is shared by eight unit cells and each atom in the center of a face is shared by two, so there are a total of eight atoms per unit cell; each side of the unit cell is 3.57 angstroms in length. A diamond cubic lattice can be thought of as two interpenetrating face-centered cubic lattices with one displaced by 1/4 of the diagonal along a cubic cell, or as one lattice with two atoms associated with each lattice point.
Looked at from a <1 1 1> crystallographic direction, it is formed of layers stacked in a repeating ABCABC... pattern. Diamonds can form an ABAB... structure, known as hexagonal diamond or lonsdaleite, but this is far less common and is formed under different conditions from cubic carbon. Diamonds occur most as euhedral or rounded octahedra and twinned octahedra known as macles; as diamond's crystal structure has a cubic arrangement of the atoms, they have many facets that belong to a cube, rhombicosidodecahedron, tetrakis hexahedron or disdyakis dodecahedron. The crystals can be elongated. Diamonds are found coated in nyf, an opaque gum-like skin; some diamonds have opaque fibers. They are referred to as opaque if the fibers
Lesotho the Kingdom of Lesotho, is an enclaved country–the only one in the world outside of the Italian peninsula–within the border of South Africa. It has a population of around 2 million, its capital and largest city is Maseru. Lesotho was the British Crown Colony of Basutoland, but it declared independence from the United Kingdom on 4 October 1966, it is now a sovereign state, a member of the United Nations, the Commonwealth of Nations, the Southern African Development Community. The name Lesotho translates to "the land of the people who speak Sesotho"; the original inhabitants of the area now known as Lesotho were the San people. Examples of their rock art can be found in the mountains throughout the area; the present Lesotho called Basutoland, emerged as a single polity under King Moshoeshoe I in 1822. Moshoeshoe, a son of Mokhachane, a minor chief of the Bakoteli lineage, formed his own clan and became a chief around 1804. Between 1821 and 1823, he and his followers settled at the Butha-Buthe Mountain, joining with former adversaries in resistance against the Lifaqane associated with the reign of Shaka Zulu from 1818 to 1828.
Subsequent evolution of the state hinged on conflicts between British and Dutch colonists leaving the Cape Colony following its seizure from the French-allied Dutch by the British in 1795, subsequently associated with the Orange River Sovereignty and subsequent Orange Free State. Missionaries invited by Moshoeshoe I, Thomas Arbousset, Eugène Casalis and Constant Gosselin from the Paris Evangelical Missionary Society, placed at Morija, developed orthography and printed works in the Sesotho language between 1837 and 1855. Casalis, acting as translator and providing advice on foreign affairs, helped to set up diplomatic channels and acquire guns for use against the encroaching Europeans and the Griqua people. Trekboers from the Cape Colony arrived on the western borders of Basutoland and claimed land rights, beginning with Jan de Winnaar, who settled in the Matlakeng area in May–June 1838; as more Boers were moving into the area they tried to colonise the land between the two rivers north of the Caledon, claiming that it had been abandoned by the Sotho people.
Moshoeshoe subsequently signed a treaty with the British Governor of the Cape Colony, Sir George Thomas Napier, that annexed the Orange River Sovereignty that many Boers had settled. These outraged Boers were suppressed in a brief skirmish in 1848. In 1851 a British force was defeated by the Basotho army at Kolonyama, touching off an embarrassing war for the British. After repelling another British attack in 1852, Moshoeshoe sent an appeal to the British commander that settled the dispute diplomatically defeated the Batlokoa in 1853. In 1854 the British pulled out of the region, in 1858 Moshoeshoe fought a series of wars with the Boers in the Free State–Basotho War, losing a great portion of the western lowlands; the last war in 1867 ended when Moshoeshoe appealed to Queen Victoria, who agreed to make Basutoland a British protectorate in 1868. In 1869, the British signed a treaty at Aliwal North with the Boers that defined the boundaries of Basutoland, Lesotho, which by ceding the western territories reduced Moshoeshoe's Kingdom to half its previous size.
Following the cession in 1869, the British transferred functions from Moshoeshoe's capital in Thaba Bosiu to a police camp on the northwest border, until administration of Basutoland was transferred to the Cape Colony in 1871. Moshoeshoe died on 11 March 1870, marking the end of the traditional era and the beginning of the colonial era, he was buried at Thaba Bosiu. In the early years of British rule between 1871 and 1884, Basutoland was treated to other territories, forcibly annexed, much to the chagrin of the Basotho; this led to the Gun War in 1881. In 1884, Basutoland was restored to its status as a protectorate, with Maseru again its capital, but remained under direct rule by a governor, though effective internal power was wielded by traditional chiefs. Basutoland gained its independence from Britain and became the Kingdom of Lesotho in 1966. In January 1970, the ruling Basotho National Party lost the first post-independence general elections, with 23 seats to the Basutoland Congress Party's 36.
Prime Minister Leabua Jonathan refused to cede power to the Basotho Congress Party, declared himself Tona Kholo, imprisoned the BCP leadership. BCP began a rebellion and received training in Libya for its Lesotho Liberation Army under the pretense of being Azanian People's Liberation Army soldiers of the Pan Africanist Congress. Deprived of arms and supplies by the Sibeko faction of the PAC in 1978, the 178-strong LLA was rescued from their Tanzanian base by the financial assistance of a Maoist PAC officer, but they launched the guerrilla war with only a handful of old weapons; the main force was defeated in northern Lesotho, guerrillas launched sporadic but ineffectual attacks. The campaign was compromised when BCP's leader, Ntsu Mokhehle, went to Pretoria. In the early 1980s, several Basotho who sympathised with the exiled BCP were threatened with death and attacked by the government of Leabua Jonathan. On 4 September 1981, the family of Benjamin Masilo was attacked. In the attack his 3-year-old grandson lost his life.
Four days Edgar Mahlomola Motuba, the editor of the popular newspaper Leselinyana la Lesotho, was abducted from his home together with two friends and murdered. The BNP ruled from 1966 until January 1970. What ensued was a de facto government led by Dr. Leab
Antwerp is a city in Belgium, is the capital of Antwerp province in Flanders. With a population of 520,504, it is the most populous city proper in Belgium, with 1,200,000 the second largest metropolitan region after Brussels. Antwerp is on the River Scheldt, linked to the North Sea by the river's Westerschelde estuary, it is about 40 kilometres north of Brussels, about 15 kilometres south of the Dutch border. The Port of Antwerp is one of the biggest in the world, ranking second in Europe and within the top 20 globally; the city is known for its diamond industry and trade. Both economically and culturally, Antwerp is and has long been an important city in the Low Countries before and during the Spanish Fury and throughout and after the subsequent Dutch Revolt. Antwerp was the place of the world's oldest stock exchange building built in 1531 and re-built in 1872; the inhabitants of Antwerp are nicknamed Sinjoren, after the Spanish honorific señor or French seigneur, "lord", referring to the Spanish noblemen who ruled the city in the 17th century.
The city hosted the 1920 Summer Olympics. According to folklore, notably celebrated by a statue in front of the town hall, the city got its name from a legend about a giant called Antigoon who lived near the Scheldt river, he extracted a toll from passing boatmen, for those who refused, he severed one of their hands and threw it into the river. The giant was killed by a young hero named Silvius Brabo, who cut off the giant's own hand and flung it into the river. Hence the name Antwerpen, from Dutch hand werpen, akin to Old English hand and wearpan, which has evolved to today's warp. A longstanding theory is that the name originated in the Gallo-Roman period and comes from the Latin antverpia. Antverpia would come from Ante Verpia, indicating land that forms by deposition in the inside curve of a river. Note that the river Scheldt, before a transition period between 600 and 750, followed a different track; this must have coincided with the current ringway south of the city, situating the city within a former curve of the river.
However, many historians think it unlikely that there was a large settlement which would be named'Antverpia', but more something like an outpost with a river crossing. However, John Lothrop Motley argues, so do a lot of Dutch etymologists and historians, that Antwerp's name derives from "anda" and "werpum" to give an't werf. Aan't werp is possible; this "warp" is a man-made hill or a river deposit, high enough to remain dry at high tide, whereupon a construction could be built that would remain dry. Another word for werp is pol hence polders. Alfred Michiels has suggested that derivations based on hand werpen, Antverpia, "on the wharf", or "at the warp" lack historical backing in the form of recorded past spellings of the placename, he points instead to Dado's Life of St. Eligius from the 7th century, which records the form Andoverpis, he sees in it a Celtic origin indicating "those who live on both banks". Historical Antwerp had its origins in a Gallo-Roman vicus. Excavations carried out in the oldest section near the Scheldt, 1952–1961, produced pottery shards and fragments of glass from mid-2nd century to the end of the 3rd century.
The earliest mention of Antwerp dates from the 4th century. In the 4th century, Antwerp was first named; the Merovingian Antwerp was evangelized by Saint Amand in the 7th century. At the end of the 10th century, the Scheldt became the boundary of the Holy Roman Empire. Antwerp became a margraviate in 980, by the German emperor Otto II, a border province facing the County of Flanders. In the 11th century, the best-known leader of the First Crusade, Godfrey of Bouillon, was Margrave of Antwerp, from 1076 until his death in 1100, though he was also Duke of Lower Lorraine and Defender of the Holy Sepulchre. In the 12th century, Norbert of Xanten established a community of his Premonstratensian canons at St. Michael's Abbey at Caloes. Antwerp was the headquarters of Edward III during his early negotiations with Jacob van Artevelde, his son Lionel, the Duke of Clarence, was born there in 1338. After the silting-up of the Zwin and the consequent decline of Bruges, the city of Antwerp part of the Duchy of Brabant, grew in importance.
At the end of the 15th century the foreign trading houses were transferred from Bruges to Antwerp, the building assigned to the English nation is mentioned in 1510. Antwerp became the sugar capital of Europe, importing the raw commodity from Portuguese and Spanish plantations; the city attracted Italian and German sugar refiners by 1550, shipped their refined product to Germany Cologne. Moneylenders and financiers developed a large business lending money all over Europe including the English government in 1544–1574. London bankers were too small to operate on that scale, Antwerp had a efficient bourse that itself attracted rich bankers from around Europe. After the 1570s, the city's banking business declined: England ended its borrowing in Antwerp in 1574. Fernand Braudel states that Antwerp became "the centre of the entire international economy, something Bruges had never been at its height." Antwerp was the richest city in Europe at this time. Antwerp's golden age is l
An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, selling the item to the highest bidder. The open ascending price auction is arguably the most common form of auction in use today. Participants bid against one another, with each subsequent bid required to be higher than the previous bid. An auctioneer may announce prices, bidders may call out their bids themselves, or bids may be submitted electronically with the highest current bid publicly displayed. In a Dutch auction, the auctioneer begins with a high asking price for some quantity of like items. While auctions are most associated in the public imagination with the sale of antiques, rare collectibles and expensive wines, auctions are used for commodities, radio spectrum and used cars. In economic theory, an auction may refer to any set of trading rules for exchange; the word "auction" is derived from the Latin augeō, which means "I increase" or "I augment". For most of history, auctions have been a uncommon way to negotiate the exchange of goods and commodities.
In practice, both haggling and sale by set-price have been more common. Indeed, before the seventeenth century the few auctions that were held were sporadic. Nonetheless, auctions have a long history, having been recorded as early as 500 B. C. According to Herodotus, in Babylon auctions of women for marriage were held annually; the auctions began with the woman the auctioneer considered to be the most beautiful and progressed to the least. It was considered illegal to allow a daughter to be sold outside of the auction method. During the Roman Empire, following military victory, Roman soldiers would drive a spear into the ground around which the spoils of war were left, to be auctioned off. Slaves captured as the "spoils of war", were auctioned in the forum under the sign of the spear, with the proceeds of sale going towards the war effort; the Romans used auctions to liquidate the assets of debtors whose property had been confiscated. For example, Marcus Aurelius sold household furniture to pay off debts, the sales lasting for months.
One of the most significant historical auctions occurred in the year 193 A. D. when the entire Roman Empire was put on the auction block by the Praetorian Guard. On 28 March 193, the Praetorian Guard first killed emperor Pertinax offered the empire to the highest bidder. Didius Julianus outbid everyone else for the price of 6,250 drachmas per guard, an act that initiated a brief civil war. Didius was beheaded two months when Septimius Severus conquered Rome. From the end of the Roman Empire to the eighteenth century auctions lost favor in Europe, while they had never been widespread in Asia. In some parts of England during the seventeenth and eighteenth centuries auction by candle began to be used for the sale of goods and leaseholds. In a candle auction, the end of the auction was signaled by the expiration of a candle flame, intended to ensure that no one could know when the auction would end and make a last-second bid. Sometimes, other unpredictable processes, such as a footrace, were used in place of the expiration of a candle.
This type of auction was first mentioned in 1641 in the records of the House of Lords. The practice became popular, in 1660 Samuel Pepys's diary recorded two occasions when the Admiralty sold surplus ships "by an inch of candle". Pepys relates a hint from a successful bidder, who had observed that, just before expiring, a candle-wick always flares up slightly: on seeing this, he would shout his final - and winning - bid; the London Gazette began reporting on the auctioning of artwork at the coffeehouses and taverns of London in the late 17th century. The first known auction house in the world was Stockholm Auction House, founded by Baron Claes Rålamb in 1674. Sotheby's the world's second-largest auction house, was founded in London on 11 March 1744, when Samuel Baker presided over the disposal of "several hundred scarce and valuable" books from the library of an acquaintance. Christie's, now the world's largest auction house, was founded by James Christie in 1766 in London and published its first auction catalog in that year, although newspaper advertisements of Christie's sales dating from 1759 have been found.
Other early auction houses that are still in operation include Dorotheum, Bonhams, Phillips de Pury & Company, Freeman's and Lyon & Turnbull. By the end of the 18th century, auctions of art works were held in taverns and coffeehouses; these auctions were held daily, auction catalogs were printed to announce available items. In some cases these catalogs were elaborate works of art themselves, containing considerable detail about the items being auctioned. At this time, Christie's established a reputation as a leading auction house, taking advantage of London's status as the major centre of the international art trade after the French Revolution. During the American Civil War, goods seized by armies were sold at auction by the Colonel of the division. Thus, some of today's auctioneers in the U. S. carry the unofficial title of "colonel". The development of the internet, has led to a significant rise in the use of auctions as auctioneers can solicit bids via the internet from a wide range of buyers in a much wider range of commodities than was practical.
In 2008, the National Auctioneers Association reported that the gross revenue of the auction industry for that ye
United States dollar
The United States dollar is the official currency of the United States and its territories per the United States Constitution since 1792. In practice, the dollar is divided into 100 smaller cent units, but is divided into 1000 mills for accounting; the circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars. Since the suspension in 1971 of convertibility of paper U. S. currency into any precious metal, the U. S. dollar is, de facto, fiat money. As it is the most used in international transactions, the U. S. dollar is the world's primary reserve currency. Several countries use it as their official currency, 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 still minting their own coins, or accept U. S. dollar coins. As of June 27, 2018, there are $1.67 trillion in circulation, of which $1.62 trillion is in Federal Reserve notes.
Article I, Section 8 of the U. S. Constitution provides that the Congress has the power "To coin money". Laws implementing this power are codified at 31 U. S. C. § 5112. Section 5112 prescribes the forms; 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 provides for the minting and issuance of other coins, which have values ranging from one cent to 100 dollars; these other coins are more described in Coins of the United States dollar. The Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time"; 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 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 9 of that act authorized the production of various coins, including "DOLLARS OR UNITS—each to be of the value of a Spanish milled dollar as the same is now current, to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver". 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 public 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. In addition to the dollar the coinage act established monetary units of mill or one-thousandth of a dollar, cent or one-hundredth of a dollar, dime or one-tenth of a dollar, eagle or ten dollars, with prescribed weights and composition of gold, silver, or copper for each, it was proposed in the mid-1800s that one hundred dollars be known as a union, but no union coins were struck and only patterns for the $50 half union exist. However, only cents are in everyday use as divisions of the dollar. XX9 per gallon, e.g. $3.599, more written as $3.599⁄10. When issued in circulating form, denominations equal to or less than a dollar are emitted as U. S. coins while denominations equal to or greater than a dollar are emitted as Federal Reserve notes. Both one-dollar coins and notes are produced today, although the note form is more common. In the past, "paper money" was issued in denominations less than a dollar and gold coins were issued for circulation up to the value of $20.
The term eagle was used in the Coinage Act of 1792 for the denomination of ten dollars, subsequently was used in naming gold coins. Paper currency less than one dollar in denomination, known as "fractional currency", was sometimes pejoratively referred to as "shinplasters". In 1854, James Guthrie Secretary of the Treasury, proposed creating $100, $50 and $25 gold coins, which were referred to as a "Union", "Half Union", "Quarter Union", thus implying a denomination of 1 Union = $100. Today, USD notes are made from cotton fiber paper, unlike most common paper, made of wood fiber. U. S. coins are produced by the United States Mint. U. S. dollar banknotes are printed by the Bureau of Engraving and Printing and, since 1914, have been issued by t