Obverse and reverse
Obverse and its opposite, refer to the two flat faces of coins and some other two-sided objects, including paper money, seals, drawings, old master prints and other works of art, printed fabrics. In this usage, obverse reverse means the back face; the obverse of a coin is called heads, because it depicts the head of a prominent person, the reverse tails. In fields of scholarship outside numismatics, the term front is more used than obverse, while usage of reverse is widespread; the equivalent terms used in codicology, manuscript studies, print studies and publishing are "recto" and "verso". The side of a coin with the larger-scale image will be called the obverse and, if that does not serve to distinguish them, the side, more typical of a wide range of coins from that location will be called the obverse. Following this principle, in the most famous of ancient Greek coins, the tetradrachm of Athens, the obverse is the head of Athena and the reverse is her owl. Similar versions of these two images, both symbols of the state, were used on the Athenian coins for more than two centuries.
In the many republics of ancient Greece, such as Athens or Corinth, one side of their coins would have a symbol of the state their patron goddess or her symbol, which remained constant through all of the coins minted by that state, regarded as the obverse of those coins. The opposite side may have varied from time to time. In ancient Greek monarchical coinage, the situation continued whereby a larger image of a deity, is called the obverse, but a smaller image of a monarch appears on the other side, called the reverse. In a Western monarchy, it has been customary, following the tradition of the Hellenistic monarchs and the Roman emperors, for the currency to bear the head of the monarch on one side, always regarded as the obverse; this change happened in the coinage of Alexander the Great, which continued to be minted long after his death. After his conquest of ancient Egypt, he allowed himself to be depicted on the obverse of coins as a god-king, at least because he thought this would help secure the allegiance of the Egyptians, who had regarded their previous monarchs, the pharaohs, as divine.
The various Hellenistic rulers who were his successors followed his tradition and kept their images on the obverse of coins. A movement back to the earlier tradition of a deity being placed on the obverse occurred in Byzantine coinage, where a head of Christ became the obverse and a head or portrait of the emperor became considered the reverse; the introduction of this style in the gold coins of Justinian II from the year 695 provoked the Islamic Caliph, Abd al-Malik, who had copied Byzantine designs, replacing Christian symbols with Islamic equivalents to develop a distinctive Islamic style, with just lettering on both sides of their coins. This script alone style was used on nearly all Islamic coinage until the modern period; the type of Justinian II was revived after the end of Iconoclasm, with variations remained the norm until the end of the Empire. Without images, therefore, it is not always easy to tell which side will be regarded as the obverse without some knowledge. After 695 Islamic coins avoided all images of persons and contained script alone.
The side expressing the Six Kalimas is defined as the obverse. A convention exists to display the obverse to the left and the reverse to the right in photographs and museum displays, but this is not invariably observed; the form of currency follows its function, to serve as a accepted medium of exchange of value. This function rests on a state as guarantor of the value: either as trustworthy guarantor of the kind and amount of metal in a coin, or as powerful guarantor of the continuing acceptance of token coins. Traditionally, most states have been monarchies where the person of the monarch and the state were equivalent for most purposes. For this reason, the obverse side of a modern piece of currency is the one that evokes that reaction by invoking the strength of the state, that side always depicts a symbol of the state, whether it be the monarch or otherwise. If not provided for on the obverse, the reverse side contains information relating to a coin's role as medium of exchange. Additional space reflects the issuing country's culture or government, or evokes some aspect of the state's territory.
Regarding the euro, some confusion regarding the obverse and reverse of the euro coins exists. As agreed by the informal Economic and Finance Ministers Council of Verona in April 1996, despite the fact that a number of countries have a different design for each coin, the distinctive national side for the circulation coins is the obverse and the common European side is the reverse; this rule does not apply to the collector coins. A number of the designs used for obverse national sides of euro coins were taken from the reverse of the nations' former pre-euro coins. Several countries continue to use portraits of the reigning monarch. In Japan, from 1897 to the end of World War II, the following informal conventions existed: the Chrysanthemum Throne, representing the imperial family, appeared on all coins, this side was regarded as the obverse; the Chrys
Crown (British coin)
The British crown, the successor to the English crown and the Scottish dollar, came into being with the Union of the kingdoms of England and Scotland in 1707. As with the English coin, its value was five shillings. Always a heavy silver coin weighing around one ounce, during the 19th and 20th centuries the crown declined from being a real means of exchange to being a coin spent and minted for commemorative purposes only. In that format it has continued to be minted following decimalisation of the British currency in 1971. However, as the result of inflation the value of the coin was revised upwards in 1990 to five pounds; the coin's origins lay in the English silver crown, one of many silver coins that appeared in various countries from the 16th century onwards, the most famous example being the famous Spanish pieces of eight, all of which were of a similar size and weight and thus interchangeable in international trade. The kingdom of England minted gold Crowns in the 16th and 17th centuries.
The dies for all gold and silver coins of Queen Anne and King George I were engraved by John Croker, a migrant from Dresden in the Duchy of Saxony. The British crown was always a large coin, from the 19th century it did not circulate well. However, crowns were struck in a new monarch's coronation year, true of each monarch since King George IV up until the present monarch in 1953, with the single exception of King George V; the Queen Victoria "Gothic" crown of 1847 is considered by many to be the most beautiful British coin minted. The King George V "wreath" crowns struck from 1927 through 1936 depict a wreath on the reverse of the coin and were struck in low numbers. Struck late in the year and intended to be purchased as Christmas gifts, they did not circulate well, with the rarest of all dates, 1934, now fetching several thousand pounds each; the 1927 "wreath" crowns were struck as proofs only. With its large size, many of the coins were commemoratives; the 1951 issue was for the Festival of Britain, was only struck in proof condition.
The 1953 crown was issued to celebrate the Coronation of Queen Elizabeth II, while the 1960 issue commemorated the British Exhibition in New York. The 1965 issue carried the image of Winston Churchill on the reverse, the first time a non-monarch or commoner was placed on a British coin, marked his death. According to the Standard Catalogue of coins, 19,640,000 of this coin were minted, a high number at the time, making them of little value today except as a mark of respect for the national war leader. Production of the Churchill Crown began on 11 October 1965, stopped in the summer of 1966; the crown was worth five shillings until decimalisation in February 1971. The last five shilling piece was minted in 1965; the crown coin was nicknamed the dollar, but is not to be confused with the British trade dollar that circulated in the Orient. In 2014, a new world record price was achieved for a milled silver crown; the coin was issued as a pattern by engraver Thomas Simon in 1663 and nicknamed the "Reddite Crown".
This was presented to Charles II as the new crown piece but was rejected in favour of the Roettiers Brothers' design. Auctioneers Spink & Son of London sold the coin on 27 March 2014 for £396,000 including commission. After decimalisation on 15 February 1971, a new coin known as a 25p piece was introduced. Whilst being legal tender, having the same decimal value as a crown, the 25p pieces were issued to commemorate events, such as: the 1972 piece was for the Silver Wedding anniversary of Queen Elizabeth II and Prince Philip, Duke of Edinburgh. All of these issues were struck in large mintages, in plastic cases, in cupro-nickel, an alloy of 75% copper and 25% nickel. However, in addition to this, limited numbers of collectors' coins of these modern issues were struck to proof quality separately by the Royal Mint in sterling silver and presented with certificates of authenticity in boxes; the mintages for the silver proof 25p coins issued are as follows: 1972: 100,000 1977: 377,000 1980: 83,672 1981: 218,142Further issues continue to be minted to the present day with a value of twenty-five pence, from 1990, with a value of five pounds.
The legal tender value of the crown remained as five shillings from 1544 to 1965. However, for most of this period there was no denominational designation or "face value" mark of value displayed on the coin. From 1927 to 1939, the word "CROWN" appears, from 1951 to 1960 this was changed to "FIVE SHILLINGS". After decimalisation in 1971, the face value kept its five shillings equivalent at 25 new pence simply 25 pence, although the face value is not shown on any of these issues. From 1990, the crown was re-tariffed at five pounds in view of its large size compared with its face value, taking into consideration its production costs, the Royal Mint's profits on sales of commemorative coins. While this change was understandable, it has brought with it a slight confusion, the popular misbelief that all crowns have a five-pound face value, i
Legal tender is a medium of payment recognized by a legal system to be valid for meeting a financial obligation. Paper currency and coins are common forms of legal tender in many countries. Legal tender is variously defined in different jurisdictions. Formally, it is anything. Thus, personal cheques, credit cards, similar non-cash methods of payment are not legal tender; the law does not relieve the debt obligation. Coins and banknotes are defined as legal tender; some jurisdictions may restrict payment made other than by legal tender. For example, such a law might outlaw the use of foreign coins and bank notes or require a license to perform financial transactions in a foreign currency. Designation of a particular form of money as legal tender means "that the designated money is valid payment for all debts unless there is a specific agreement to the contrary". In some jurisdictions legal tender can be refused as payment if no debt exists prior to the time of payment. For example, vending machines and transport staff do not have to accept the largest denomination of banknote.
Shopkeepers may reject large banknotes: this is covered by the legal concept known as invitation to treat. The right, in many jurisdictions, of a trader to refuse to do business with any person, means a purchaser may not insist on making a purchase and so declaring a legal tender in law, as anything other than an offered payment for debts incurred would not be effective. Under U. S. federal law, cash in U. S. dollars is a legal offer of payment for antecedent debts when tendered to a creditor. By contrast, federal statutes do not require that someone, not a pre-existing creditor must accept currency or coins as payment for goods or services. Private businesses may formulate their own policies on whether to accept cash unless state law requires otherwise; the term "legal tender" is from French tendre, meaning to offer. The Latin root is tendere, the sense of tender as an offer is related to the etymology of the English word "extend". Demonetization is the act of stripping a currency unit of its status as legal tender.
It occurs whenever there is a change of national currency: The current form or forms of money is pulled from circulation and retired to be replaced with new notes or coins. Sometimes, a country replaces the old currency with new currency; the opposite of demonetization is remonetization, in which a form of payment is restored as legal tender. Coins and banknotes may cease to be legal tender if new notes of the same currency replace them or if a new currency is introduced replacing the former one. Examples of this are: The United Kingdom, adopting decimal currency in place of pounds and pence in 1971, Banknotes remained unchanged. In 1968 and 1969 decimal coins which had precise equivalent values in the old currency were introduced, while decimal coins with no precise equivalent were introduced on 15 February 1971; the smallest and largest non-decimal circulating coins, the half penny and half crown, were withdrawn in 1969, the other non-decimal coins with no precise equivalent in the new currency were withdrawn in 1971.
Non-decimal coins with precise decimal equivalents remained legal tender either until the coins no longer circulated, or the equivalent decimal coins were reduced in size in the early 1990s. The 6d coin was permitted to remain in large circulation throughout the United Kingdom due to the London Underground committee's large investment in coin-operated ticketing machines that used it. Old coins returned to the Royal Mint through the UK banking system will be redeemed by exchanging them for legal tender currency with no time limits; the successor states of the Soviet Union replacing the Soviet ruble in the 1990s. Currencies used in the Eurozone before being replaced by the euro are not legal tender, but all banknotes are redeemable for euros for a minimum of 10 years. India demonetised its 500 and 1000 rupee notes on 8 November 2016; this action affected 86 percent of all cash in circulation. The demonetisation action was intended to curb black money, the hoarding of unaccounted cash, sponsorship of terrorism, but led to long queues from bank runs, leaving more than 30 people dead.
The old notes are now being replaced by new 2000 rupee notes. The Philippines has ceased 2 peso and 50 centavo coins of Flora and Fauna Series in 2000, due to overminting of the coins of BSP Series that has not included the 2 peso and 50 centavo coins of that series. Individual coins or banknotes can be demonetised and cease to be legal tender, but the Bank of England does redeem all Bank of England banknotes by exchanging them for legal tender currency at its counters in London regardless of how old they are. Banknotes issued by retail banks in the UK are not legal tender, but one of the criteria for legal protection under the Forgery and Counterfeiting Act is that banknotes must be payable on demand, therefore withdrawn notes remain a liability of the issuing bank without any time limits. In the case of the euro, coins an
Earl of Derby
Earl of Derby is a title in the Peerage of England. The title was first adopted by Robert de Ferrers, 1st Earl of Derby, under a creation of 1139, it continued with the Ferrers family until the 6th Earl forfeited his property toward the end of the reign of Henry III and died in 1279. Most of the Ferrers property and, by a creation in 1337, the Derby title, were held by the family of Henry III; the title merged in the Crown upon Henry IV's accession to the throne. It was created again for the Stanley family in 1485. Lord Derby's subsidiary titles are Baron Stanley of Bickerstaffe in the County Palatine of Lancaster, Baron Stanley of Preston, in the County Palatine of Lancaster; the 1st to 5th Earls held an earlier Barony of Stanley, created for the 1st Earl's father in 1456 and abeyant. The courtesy title of the heir apparent is Lord Stanley. Several successive generations of the Stanley Earls, along with other members of the family, have been prominent members of the Conservative Party, at least one historian has suggested that this family rivals the Cecils as the single most important family in the party's history.
They were at times one of the richest landowning families in England. The Stanley Cup, the championship trophy of the National Hockey League, was presented to the Dominion of Canada in 1892 by Frederick Stanley, 16th Earl of Derby during his tenure as Governor General of Canada; the family seat is Knowsley Hall, near Merseyside. Ferrières in Normandy, the hometown of the de Ferrers family, was an important centre for iron and takes its name from the iron ore mines used during the Gallo-Roman period. Lord of Longueville, a Domesday Commissioner; the Ferrers, lords of the barony of Ferrières in Normandy, were accompanied to England by three other families who were their underlords in France: the Curzons, the Baskervilles and the Levetts. Robert de Ferrers, 2nd Earl of Ferrières was created Earl of Derby by King Stephen in 1138 for his valiant conduct at the Battle of Northallerton, he was married to Hawise de Vitre and died in 1139. His son Robert de Ferrers, 2nd Earl of Derby became the next earl and was married to Margaret Peverel.
He founded Merevale Abbey. His son William de Ferrers, 3rd Earl of Derby was married to Sybil de Braose, he was imprisoned at Caen, Normandy. He died in the Crusades at the Siege of Acre, he was succeeded by his son William de Ferrers, 4th Earl of Derby who married Agnes de Kevelioc, daughter of Hugh de Kevelioc, 3rd Earl of Chester. He was succeeded by his son William de Ferrers, 5th Earl of Derby who married Sibyl Marshall and Margaret de Quincy with whom he had his son and heir Robert de Ferrers, 6th Earl of Derby, who became the next Earl, he rebelled against King Henry III and was arrested and imprisoned first in the Tower of London in Windsor Castle and Wallingford Castle, in 1266 his lands and earldom were forfeited, including Tutbury Castle which still belongs to the Duchy of Lancaster. Through one line the descent of the Earls of Derby gave rise to the Earls Ferrers. Laurence Shirley, 4th Earl Ferrers, was the only peer of the realm to be hanged for murder. Another familial line takes in the Baron Ferrers of Chartley descent.
The large estates which were taken from Robert in 1266 were given by Henry III to his son, Edmund Crouchback. In 1337 Edmund's grandson, Henry of Grosmont, afterwards Duke of Lancaster, was created Earl of Derby, this title was taken by Edward III's son, John of Gaunt, who had married Henry's daughter, Blanche. John of Gaunt's son and successor was Henry Bolingbroke, who acceded to the throne as Henry IV in 1399; the title Earl of Derby merged into the Crown. The Stanley family was descended from Ligulf of Aldithley, the ancestor of the Audleys. One of his descendants married an heiress whose marriage portion included Stoneley, Staffordshire – hence the name Stanley. Sir Thomas Stanley served as Lord Lieutenant of Ireland and represented Lancashire in the House of Commons. In 1456 he was summoned to the House of Lords as Lord Stanley, his eldest son Thomas Stanley, 2nd Baron Stanley, married Lady Margaret Beaufort, the mother of King Henry VII, Eleanor Nevill. The title of Earl of Derby was conferred on him in 1485 by his stepson Henry VII after the Battle of Bosworth Field where Thomas decided not to support King Richard III.
The title derives from the family's extensive lands in the hundred of West Derby and not the county or city of Derby. His eldest son and heir apparent George Stanley, Lord Stanley, married Joan Strange, 9th Baroness Strange and 5th Baroness Mohun, was summoned to the House of Lords as Lord Strange in right of his wife. Lord Derby was succeeded by the eldest son of Lord Strange, he had succeeded his mother as tenth Baron Strange and sixth Baron Mohun. He married daughter of Lord Hungerford and Hastings; the second Earl's son Edward became the 3rd Earl. He notably served as Lord High Steward at the coronation of Queen Mary of England in 1553 and was Lor
Fixed exchange-rate system
A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed against either the value of another single currency, a basket of other currencies, or another measure of value, such as gold. There are risks to using a fixed exchange rate. A fixed exchange rate is used to stabilize the value of a currency by directly fixing its value in a predetermined ratio to a different, more stable, or more internationally prevalent currency to which the value is pegged. In doing so, the exchange rate between the currency and its peg does not change based on market conditions, unlike flexible exchange regime; this makes trade and investments between the two currency areas easier and more predictable and is useful for small economies that borrow in foreign currency and in which external trade forms a large part of their GDP. A fixed exchange-rate system can be used to control the behavior of a currency, such as by limiting rates of inflation.
However, in doing so, the pegged currency is controlled by its reference value. As such, when the reference value rises or falls, it follows that the value of any currencies pegged to it will rise and fall in relation to other currencies and commodities with which the pegged currency can be traded. In other words, a pegged currency is dependent on its reference value to dictate how its current worth is defined at any given time. In addition, according to the Mundell–Fleming model, with perfect capital mobility, a fixed exchange rate prevents a government from using domestic monetary policy to achieve macroeconomic stability. In a fixed exchange-rate system, a country’s central bank uses an open market mechanism and is committed at all times to buy and/or sell its currency at a fixed price in order to maintain its pegged ratio and, the stable value of its currency in relation to the reference to which it is pegged. To maintain a desired exchange rate, the central bank during the devaluation of the domestic money, sells its foreign money in the reserves and buys back the domestic money.
This creates an artificial demand for the domestic money. In case of an undesired appreciation of the domestic money, the central bank buys back the foreign money and thus flushes the domestic money into the market for decreasing the demand and exchange rate; the central bank from its reserves provides the assets and/or the foreign currency or currencies which are needed in order to finance any imbalance of payments. In the 21st century, the currencies associated with large economies do not fix or peg exchange rates to other currencies; the last large economy to use a fixed exchange rate system was the People's Republic of China, which, in July 2005, adopted a more flexible exchange rate system, called a managed exchange rate. The European Exchange Rate Mechanism is used on a temporary basis to establish a final conversion rate against the euro from the local currencies of countries joining the Eurozone; the gold standard or gold exchange standard of fixed exchange rates prevailed from about 1870 to 1914, before which many countries followed bimetallism.
The period between the two world wars was transitory, with the Bretton Woods system emerging as the new fixed exchange rate regime in the aftermath of World War II. It was formed with an intent to rebuild war-ravaged nations after World War II through a series of currency stabilization programs and infrastructure loans; the early 1970's saw the breakdown of the system and its replacement by a mixture of fluctuating and fixed exchange rates. Timeline of the fixed exchange rate system: The earliest establishment of a gold standard was in the United Kingdom in 1821 followed by Australia in 1852 and Canada in 1853. Under this system, the external value of all currencies was denominated in terms of gold with central banks ready to buy and sell unlimited quantities of gold at the fixed price; each central bank maintained gold reserves as their official reserve asset. For example, during the “classical” gold standard period, the U. S. dollar was defined as 0.048 troy oz. of pure gold. Following the Second World War, the Bretton Woods system replaced gold with the U.
S. dollar as the official reserve asset. The regime intended to combine binding legal obligations with multilateral decision-making through the International Monetary Fund; the rules of this system were set forth in the articles of agreement of the IMF and the International Bank for Reconstruction and Development. The system was a monetary order intended to govern currency relations among sovereign states, with the 44 member countries required to establish a parity of their national currencies in terms of the U. S. dollar and to maintain exchange rates within 1% of parity by intervening in their foreign exchange markets. The U. S. dollar was the only currency strong enough to meet the rising demands for international currency transactions, so the United States agreed both to link the dollar to gold at the rate of $35 per ounce of gold and to convert dollars into gold at that price. Due to concerns about America's deteriorating payments situation and massive flight of liquid capital from the U.
S. President Richard Nixon suspended the convertibility of the dollar into gold on 15 August 1971. In December 1971, the Smithsonian Agreement paved the way for the increase in the value of the dollar price of gold from US$35.50 to US$38 an ounce. Speculation against the dollar in March 1973 led to the birth of the independent float, thus terminating the Bretton Woods system. Since March 1973, the floating exchange rate has been followed and formally recognize
George III of the United Kingdom
George III was King of Great Britain and King of Ireland from 25 October 1760 until the union of the two countries on 1 January 1801, after which he was King of the United Kingdom of Great Britain and Ireland until his death in 1820. He was concurrently Duke and prince-elector of Brunswick-Lüneburg in the Holy Roman Empire before becoming King of Hanover on 12 October 1814, he was the third British monarch of the House of Hanover, but unlike his two predecessors, he was born in Great Britain, spoke English as his first language, never visited Hanover. His life and with it his reign, which were longer than those of any of his predecessors, were marked by a series of military conflicts involving his kingdoms, much of the rest of Europe, places farther afield in Africa, the Americas and Asia. Early in his reign, Great Britain defeated France in the Seven Years' War, becoming the dominant European power in North America and India. However, many of Britain's American colonies were soon lost in the American War of Independence.
Further wars against revolutionary and Napoleonic France from 1793 concluded in the defeat of Napoleon at the Battle of Waterloo in 1815. In the part of his life, George III had recurrent, permanent, mental illness. Although it has since been suggested that he had bipolar disorder or the blood disease porphyria, the cause of his illness remains unknown. After a final relapse in 1810, a regency was established. George III's eldest son, Prince of Wales, ruled as Prince Regent until his father's death, when he succeeded as George IV. Historical analysis of George III's life has gone through a "kaleidoscope of changing views" that have depended on the prejudices of his biographers and the sources available to them; until it was reassessed in the second half of the 20th century, his reputation in the United States was one of a tyrant. George was born in London at Norfolk House in St James's Square, he was the grandson of King George II, the eldest son of Frederick, Prince of Wales, Augusta of Saxe-Gotha.
As he was born two months prematurely and thought unlikely to survive, he was baptised the same day by Thomas Secker, both Rector of St James's and Bishop of Oxford. One month he was publicly baptised at Norfolk House, again by Secker, his godparents were the King of Sweden, his uncle the Duke of Saxe-Gotha and his great-aunt the Queen of Prussia. Prince George grew into a healthy but shy child; the family moved to Leicester Square, where George and his younger brother Prince Edward, Duke of York and Albany, were educated together by private tutors. Family letters show that he could read and write in both English and German, as well as comment on political events of the time, by the age of eight, he was the first British monarch to study science systematically. Apart from chemistry and physics, his lessons included astronomy, French, history, geography, commerce and constitutional law, along with sporting and social accomplishments such as dancing and riding, his religious education was wholly Anglican.
At age 10, George took part in a family production of Joseph Addison's play Cato and said in the new prologue: "What, tho' a boy! It may with truth be said, A boy in England born, in England bred." Historian Romney Sedgwick argued that these lines appear "to be the source of the only historical phrase with which he is associated". George's grandfather, King George II, disliked the Prince of Wales, took little interest in his grandchildren. However, in 1751 the Prince of Wales died unexpectedly from a lung injury at the age of 44, George became heir apparent to the throne, he inherited his father's title of Duke of Edinburgh. Now more interested in his grandson, three weeks the King created George Prince of Wales. In the spring of 1756, as George approached his eighteenth birthday, the King offered him a grand establishment at St James's Palace, but George refused the offer, guided by his mother and her confidant, Lord Bute, who would serve as Prime Minister. George's mother, now the Dowager Princess of Wales, preferred to keep George at home where she could imbue him with her strict moral values.
In 1759, George was smitten with Lady Sarah Lennox, sister of the Duke of Richmond, but Lord Bute advised against the match and George abandoned his thoughts of marriage. "I am born for the happiness or misery of a great nation," he wrote, "and must act contrary to my passions." Attempts by the King to marry George to Princess Sophie Caroline of Brunswick-Wolfenbüttel were resisted by him and his mother. The following year, at the age of 22, George succeeded to the throne when his grandfather, George II, died on 25 October 1760, two weeks before his 77th birthday; the search for a suitable wife intensified. On 8 September 1761 in the Chapel Royal, St James's Palace, the King married Princess Charlotte of Mecklenburg-Strelitz, whom he met on their wedding day. A fortnight on 22 September both were crowned at Westminster Abbey. George remarkably never took a mistress, the couple enjoyed a genuinely happy marriage until his mental illness struck, they had 15 children -- six daughters. In 1762, George purchased Buckingham House for use as a family retreat.
His other residences were Windsor Castle. St James's Palace was retained for
Douglas, Isle of Man
Douglas is the capital and largest town of the Isle of Man, with a population of 27,938. It is located at the mouth of the River Douglas, on a sweeping bay of two miles; the River Douglas forms part of main commercial port. Douglas was a small settlement until it grew as a result of links with the English port of Liverpool in the 18th century. Further population growth came in the following century, resulting during the 1860s in a staged transfer of the High Courts, the Lieutenant Governor's residence, the seat of the legislature, Tynwald, to Douglas from the ancient capital, Castletown; the town is the Island's main hub for business, legal services, transport and entertainment. The annual Isle of Man TT motorcycle races finish in Douglas. In the absence of any archaeological data, the origins of the town may be revealed by analysis of the original street and plot pattern; the discovery of a bronze weapon in central Douglas, the large Ballaquayle Viking treasure hoard on the outskirts, both in the 1890s, hint at the early importance of the site now occupied by Douglas.
Scholars agree that the name of the town derives from Early Celtic'Duboglassio' meaning'black river'. Douglas is twice referred to in the monastic Chronicle of the Kings of Man and the Isles: first in 1192, when the monks of St Mary's Abbey at Rushen were transferred there for a four-year stay; these may be references to the site of the Nunnery, a little upstream from the port. The first detailed documentation shows that in 1511 there were only thirteen resident households in the settlement clustered north of the harbour; this suggests. Current speculation links the store buildings with the Irish Sea herring fishery, the import/export trade. In 1681 Thomas Denton described Douglas as "the place of greatest resort" on the Isle of Man, by 1705 a clear picture of the early town emerges, with hints that its residential and military defence functions were growing in importance alongside the port facility; the town thrived in the next 60 years, as imposing merchants' houses, large warehouses, quays and a pier were built to accommodate the burgeoning "running trade": one of the stimuli for the town's expansion.
Other forms of trade grew, after the Revestment Act 1765, Douglas began to reap the benefits of transatlantic trade, due in part to co-operation at a local level with Liverpool. Legitimate merchants who rose to prominence over the period included the Murreys, the Moores, the Bacons; the town's prosperity was facilitated by the low cost of living, the favourable legal status enjoyed by English debtors and half-pay officers. The initial growth and development of the town owed much to its natural harbour, since expanded and improved. Over the 18th century, the town's population rose from about 800 in 1710 to nearly 2,500 in 1784. Throughout the 19th century, the town's demographics followed the same trends as the United Kingdom, due to the Industrial Revolution; the number of holiday visitors grew from the early 19th century, from around 1870 onwards, the town was transformed into a leading holiday resort. But there were unsanitary conditions, poor quality housing; the open sewage and smell from the harbour at low tide all contributed to the town's uncleanliness.
Oil and gas lamps first appeared in the late 1820s and 1830s, the first hospital to join the Dispensary was built in 1850, in 1832 the scenic Tower of Refuge was built in Douglas Bay to offer shelter and provisions for sailors awaiting rescue. Douglas in the first half of the 19th century suffered from the destitution of its population and the many epidemics, in particular cholera; the rise of Douglas as the social and economic stronghold was recognised in 1869, when it became the home of the island's parliament and therefore the capital, an honour held by Castletown, a smaller town in the south of the island. Douglas's political landscape changed in the 19th century, in spite of the conservatism of some townsfolk: in 1844, for example, at a public meeting, the idea of a town council was rejected in favour of retaining the system of Town High Bailiffs. However, an Act passed that decade, which did not include opt-out clauses, was accepted, in 1860, Douglas elected its first town council, predominantly middle class in its makeup.
The Town Commissioners could tackle the town's problems with greater efficiency, by 1869 the sewage problem had been resolved. The Commissioners worked to alter the anachronistic architecture of Douglas, built during the era of fishing and trading, no longer amenable or safe for tourists; the proportion of the total Manx population living in Douglas was expanding, with 35% living there by 1891. The Victorian and modernisation of the town was achieved at the expense of the original maze-like layout of the oldest streets; these were cleared away in the new street schemes and slum clearances of the 1870s to 1920s. The town's infrastructure was radically altered for tourists' convenience, in 1878 the Loch Promenade was construc