Monaco the Principality of Monaco, is a sovereign city-state and microstate on the French Riviera in Western Europe. France borders the country on three sides. Monaco has an area of 2.020 km2, making it the second-smallest country in the world after the Vatican. Its population was about 38,400 based on the last census of 2016. With 19,009 inhabitants per km², it is the most densely-populated sovereign state in the world. Monaco has a land border of 5.47 km, a coastline of 3.83 km, a width that varies between 1,700 and 349 m. The highest point in the country is a narrow pathway named Chemin des Révoires on the slopes of Mont Agel, in the Les Révoires Ward, 161 metres above sea level. Monaco's most populous Quartier is Monte Carlo and the most populous Ward is Larvotto/Bas Moulins. Through land reclamation, Monaco's land mass has expanded by 20 percent. Monaco is known as a playground for the famous, due to its tax laws. In 2014, it was noted. Monaco is a principality governed under a form of constitutional monarchy, with Prince Albert II as head of state.
Although Prince Albert II is a constitutional monarch, he wields immense political power. The House of Grimaldi has ruled Monaco, with brief interruptions, since 1297; the official language is French, but Monégasque and English are spoken and understood. The state's sovereignty was recognized by the Franco-Monegasque Treaty of 1861, with Monaco becoming a full United Nations voting member in 1993. Despite Monaco's independence and separate foreign policy, its defense is the responsibility of France. However, Monaco does maintain two small military units. Economic development was spurred in the late 19th century with the opening of the country's first casino, Monte Carlo, a railway connection to Paris. Since Monaco's mild climate and gambling facilities have contributed to the principality's status as a tourist destination and recreation centre for the rich. In more recent years, Monaco has become a major banking centre and has sought to diversify its economy into the services sector and small, high-value-added, non-polluting industries.
The state has no income tax, low business taxes, is well known for being a tax haven. It is the host of the annual street circuit motor race Monaco Grand Prix, one of the original Grands Prix of Formula One; the principality has a club football team. Monaco is not formally a part of the European Union, but it participates in certain EU policies, including customs and border controls. Through its relationship with France, Monaco uses the euro as its sole currency. Monaco joined the Council of Europe in 2004, it is a member of the Organisation Internationale de la Francophonie. Monaco's name comes from the nearby 6th-century BC Phocaean Greek colony. Referred to by the Ligurians as Monoikos, from the Greek "μόνοικος", "single house", from "μόνος" "alone, single" + "οἶκος" "house", which bears the sense of a people either settled in a "single habitation" or of "living apart" from others. According to an ancient myth, Hercules passed through the Monaco area and turned away the previous gods; as a result, a temple was constructed there, the temple of Hercules Monoikos.
Because the only temple of this area was the "House" of Hercules, the city was called Monoikos. It ended up in the hands of the Holy Roman Empire. An ousted branch of a Genoese family, the Grimaldi, contested it for a hundred years before gaining control. Though the Republic of Genoa would last until the 19th century, they allowed the Grimaldi family to keep Monaco, both France and Spain left it alone for hundreds of years. France did not annex it until the French Revolution, but after the defeat of Napoleon it was put under the care of the Kingdom of Sardinia. In the 19th century, when Sardinia became a part of Italy, the region came under French influence again but France allowed it to remain independent. Like France, Monaco was overrun by the Axis powers during the Second World War and for a short time was administered by Italy the Third Reich, before being liberated. Although the occupation lasted for just a short time, it meant the deportation of the Jewish population and execution of several resistance members from Monaco.
Since Monaco has been independent. It has taken some steps towards integration with the European Union. Following a land grant from Emperor Henry VI in 1191, Monaco was refounded in 1215 as a colony of Genoa. Monaco was first ruled by a member of the House of Grimaldi in 1297, when Francesco Grimaldi, known as "Il Malizia", his men captured the fortress protecting the Rock of Monaco while dressed as Franciscan monks—a monaco in Italian, although this is a coincidence as the area was known by this name. Francesco, was evicted only a few years afterwards by the Genoese forces, the struggle over "the Rock" continued for another century; the Grimaldi family was Genoese and the struggle was something of a family feud. However, the Genoese became engaged in other conflicts, in the late 1300s Genoa became involved in a conflict with the Crown of Aragon over Corsica; the Crown of Aragon became a part of Spain through marriage and other parts drifted into various pieces of other
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
The Smithsonian Institution, founded on August 10, 1846 "for the increase and diffusion of knowledge," is a group of museums and research centers administered by the Government of the United States. The institution is named after British scientist James Smithson. Organized as the "United States National Museum," that name ceased to exist as an administrative entity in 1967. Termed "the nation's attic" for its eclectic holdings of 154 million items, the Institution's nineteen museums, nine research centers, zoo include historical and architectural landmarks located in the District of Columbia. Additional facilities are located in Arizona, Massachusetts, New York City, Texas and Panama. More than 200 institutions and museums in 45 states, Puerto Rico, Panama are Smithsonian Affiliates; the Institution's thirty million annual visitors are admitted without charge. Its annual budget is around $1.2 billion with two-thirds coming from annual federal appropriations. Other funding comes from the Institution's endowment and corporate contributions, membership dues, earned retail and licensing revenue.
Institution publications include Air & Space magazines. The British scientist James Smithson left most of his wealth to his nephew Henry James Hungerford; when Hungerford died childless in 1835, the estate passed "to the United States of America, to found at Washington, under the name of the Smithsonian Institution, an Establishment for the increase & diffusion of knowledge among men", in accordance with Smithson's will. Congress accepted the legacy bequeathed to the nation, pledged the faith of the United States to the charitable trust on July 1, 1836; the American diplomat Richard Rush was dispatched to England by President Andrew Jackson to collect the bequest. Rush returned in August 1838 with 105 sacks containing 104,960 gold sovereigns. Once the money was in hand, eight years of Congressional haggling ensued over how to interpret Smithson's rather vague mandate "for the increase and diffusion of knowledge." The money was invested by the US Treasury in bonds issued by the state of Arkansas, which soon defaulted.
After heated debate, Massachusetts Representative John Quincy Adams persuaded Congress to restore the lost funds with interest and, despite designs on the money for other purposes, convinced his colleagues to preserve it for an institution of science and learning. On August 10, 1846, President James K. Polk signed the legislation that established the Smithsonian Institution as a trust instrumentality of the United States, to be administered by a Board of Regents and a Secretary of the Smithsonian. Though the Smithsonian's first Secretary, Joseph Henry, wanted the Institution to be a center for scientific research, it became the depository for various Washington and U. S. government collections. The United States Exploring Expedition by the U. S. Navy circumnavigated the globe between 1838 and 1842; the voyage amassed thousands of animal specimens, an herbarium of 50,000 plant specimens, diverse shells and minerals, tropical birds, jars of seawater, ethnographic artifacts from the South Pacific Ocean.
These specimens and artifacts became part of the Smithsonian collections, as did those collected by several military and civilian surveys of the American West, including the Mexican Boundary Survey and Pacific Railroad Surveys, which assembled many Native American artifacts and natural history specimens. In 1846, the regents developed a plan for weather observation; the Institution became a magnet for young scientists from 1857 to 1866, who formed a group called the Megatherium Club. The Smithsonian played a critical role as the U. S. partner institution in early bilateral scientific exchanges with the Academy of Sciences of Cuba. Construction began on the Smithsonian Institution Building in 1849. Designed by architect James Renwick Jr. its interiors were completed by general contractor Gilbert Cameron. The building opened in 1855; the Smithsonian's first expansion came with construction of the Arts and Industries Building in 1881. Congress had promised to build a new structure for the museum if the 1876 Philadelphia Centennial Exposition generated enough income.
It did, the building was designed by architects Adolf Cluss and Paul Schulze, based on original plans developed by Major General Montgomery C. Meigs of the United States Army Corps of Engineers, it opened in 1881. The National Zoological Park opened in 1889 to accommodate the Smithsonian's Department of Living Animals; the park was designed by landscape architect Frederick Law Olmsted. The National Museum of Natural History opened in June 1911 to accommodate the Smithsonian's United States National Museum, housed in the Castle and the Arts and Industries Building; this structure was designed by the D. C. architectural firm of Hornblower & Marshall. When Detroit philanthropist Charles Lang Freer donated his private collection to the Smithsonian and funds to build the museum to hold it, it was among the Smithsonian's first major donations from a private individual; the gallery opened in 1923. More than 40 years would pass before the next museum, the Museum of History and Technology, opened in 1964.
It was designed by the world-renowned firm of Mead & White. The Anacostia Community Museum, an "experimental store-front" museum created at the initiative of Smithsonian Secretary S. Dillon Ripley, opened in the Anacostia neighborhood of
Sotheby's is a British-founded American multinational corporation headquartered in New York City. One of the world's largest brokers of fine and decorative art, real estate, collectibles, Sotheby's operation is divided into three segments: auction and dealer; the company's services range from corporate art services to private sales. It is named after one of John Sotheby. Sotheby's is the world's fourth oldest auction house in continuous operation, with 90 locations in 40 countries; as of December 2011, the company had 1,446 employees worldwide. It is the world's largest art business with global sales in 2011 totalling $5.8 billion. Sotheby's was established on 11 March 1744 in London; the American holding company was incorporated in August 1983 in Michigan. In June 2006, Sotheby's Holdings, Inc. reincorporated in the State of Delaware and was renamed Sotheby's. In July 2016, Chinese insurance company Taikang Life became Sotheby's largest shareholder. Sotheby's predecessor and Leigh, 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 Rt Hon Sir John Stanley Bt. of Alderley.
Three Swedish auction houses are older and Sotheby's great rival in London and New York, Christie's, dates from 1759 or shortly after. The current business dates back to 1804, when two of the partners of the original business left to set up their own book dealership; the library Napoleon took with him into exile at St Helena, as well as the library collections of John Wilkes, Benjamin Heywood Bright and the Dukes of Devonshire and of Buckingham were sold through Samuel Baker's auctions. After Baker's death in 1778, his estate was divided between John Sotheby. George Leigh died unmarried in 1816, but not before endeavouring to secure his succession by recruiting Samuel E Leigh into the business. Under the Sotheby family, the auction house extended its activities to auctioning prints and coins. John Wilkinson, Sotheby's Senior Accountant, became the company's new CEO; the business did not seek to auction fine arts in general until much their first major success in this field being the sale of a Frans Hals painting for nine thousand guineas as late as 1913.
In 1917, Sotheby's relocated from 13 Wellington Street to 34-35 New Bond Street, which remains as its London base to this day. They soon came to rival Christie's as leaders of the London auction market, which had become the most important for art. In 1955, Sotheby's opened an office at New York City. In 1964, Sotheby's purchased Parke-Bernet the largest auctioneer of fine art in the United States. In the following year, Sotheby's moved to New York. With international popularity of fine art auction growing, Sotheby's opened offices in Paris and Los Angeles in 1967, became the first auction house to operate in Hong Kong in 1973, Moscow in 1988. Sotheby's became a U. K. public company in 1977. A 25 percent drop from the 1980–81 record of $610 million in sales contributed to Sotheby's decision to relocate its North American headquarters from Madison Avenue to a former cigar factory at 1334 York Avenue, New York, in 1982; the auction house closed its Madison Avenue galleries at East 76th Street. The Los Angeles galleries were sold and auctions of West Coast material moved to New York.
In the following year, a group of investors privatized Sotheby's. Sotheby's was incorporated as Sotheby's Holdings, Inc. in Michigan in August 1983. Taubman took Sotheby's public in 1988, listing the company's shares on the New York Stock Exchange, making Sotheby's the oldest publicly traded company on the NYSE under the ticker symbol "BID." In June 2006, Sotheby's Holdings, Inc. reincorporated in the State of Delaware and was renamed Sotheby's shortly after. With private transactions constituting an essential and profitable business segment, through the years Sotheby's has bought art galleries and helped dealers finance purchases, it has gone into partnership with dealers on private sales. In 1990, Sotheby's teamed up with dealer William Acquavella, to form Acquavella Modern Art, a Nevada general partnership and a subsidiary of Sotheby's Holding Company; the subsidiary paid $143 million for the contents of the Pierre Matisse Gallery in Manhattan, which included about 2,300 works by such artists as Miró, Jean Dubuffet, Alberto Giacometti, Marc Chagall, began selling the works both at auction and privately.
In 1996, Sotheby's acquired Andre Emmerich Gallery to operate a division called Emmerich/Sotheby's, in 1997 it purchased a 50% interest in Deitch Projects. As a consequence, the Josef and Anni Albers Foundation, the main beneficiary of the artists' estates, as well as the estates of Morris Louis and Milton Avery announced that they would not renew their Emmerich contracts; that decision came right after it was disclosed that Sotheby's had decided to close Emmerich's prime space at 41 East 57th Street, that its artists would be handled out of Deitch Projects. Sotheby's subsequently closed Andre Emmerich in 1998 and sold its share in Deitch Projects back to Jeffrey Deitch. In 2006, Sotheby's acquired a Dutch dealership, Noortman Master Paintings, from its owner, Robert Noortman, for $82.5 million. Sotheby's and Noortman had collaborated before in 1995, when the sales of Dutch plastic millionaire Joost Ritman were divided between the two companies. In 1990, Sotheby's New
Gemological Institute of America
The Gemological Institute of America, or GIA, is a nonprofit institute dedicated to research and education in the field of gemology and the jewelry arts. Founded in 1931, GIA's mission is to protect all buyers and sellers of gemstones by setting and maintaining the standards used to evaluate gemstone quality; the institute does so through research, gem identification and diamond grading services and a variety of educational programs. Through its world-renowned library and subject experts, GIA acts as a resource of gem and jewelry information for the trade, the public and worldwide media outlets. In 1953 the GIA developed its International Diamond Grading System and the Four Cs as a standard to compare and evaluate the quality of diamonds. Today, the institute is headquartered in Carlsbad and operates out of 13 countries, with 11 campuses, 9 laboratories and 4 research centers worldwide; the story of the GIA starts back in the 1920s with a man named Robert M. Shipley. Shipley had been enjoying a successful career as a jeweler, but was coming to realize the unfortunate state of the gem and jewelry industry: a typical jeweler in the US, himself included, had a surprising lack of expertise when it came to jewelry and precious stones.
He therefore took it upon himself to bring change to the jeweler’s trade, restore the public’s trust therein. After traveling to Europe and completing the Great Britain National Association of Goldsmiths gemological correspondence course, Shipley returned to Los Angeles, it was here that he launched his own preliminary course in gemology on September 16, 1930, seeking to train and certify jewelers. The jewelers he certified would serve to form a national guild of jewelers, dedicated to providing the public with a superior sense of professionalism within the gem and jewelry field; the first GIA gemological laboratory was established in Los Angeles in 1931. The jeweler's profession was transformed, with the introduction of the "Certified Gemologist" professional designation and the legitimization of gemology as a recognized science. Over the years, the group has brought many significant new developments to the industry, including the following: 1934: GIA patents a jeweler’s loupe with triple aplanatic lenses.
1937: GIA patents the world’s first gemological microscope, allowing gemologists to properly examine the insides of gemstones. 1953: The diamond grading system based on Shipley’s Four C’s becomes an international standard for determining diamond quality. 1955: GIA issues the first diamond grading reports, which are accepted as an international benchmark for the jewelry industry. 1956: GIA finds a reliable way to detect diamonds that have been irradiated to artificially enhance their color. 1960: The GIA Diamond Dictionary is published, becoming an international industry reference. 1987: The Liddicoat Gemological Library and Information Center amasses the largest collection of books on gemology in the world. 1991: GIA hosts its first annual Career Fair, which becomes the industry’s most significant recruiting event. 1999: GIA identifies a way to detect diamonds that have been decolorized by high pressure and high temperatures. 2003: GIA identifies a way to detect sapphires made from beryllium-diffusion techniques, diamonds made from chemical vapor deposition.
2005: GIA creates a system for grading the cut of round brilliant diamonds in the D-to-Z color range. 2007: GIA introduces a Synthetic Diamond Grading Report. 2014: GIA introduces DiamondCheck, capable of differentiating between natural and treated or synthetic diamonds. GIA is engaged in research to advance the science of gemology. Research has focused on developing methods and technologies to identify and characterize gems; this research has produced significant advances in the ability to differentiate gems and identify simulants. GIA was responsible for the first modern diamond grading reports, where it introduced grading methodologies for diamond color and diamond clarity. Today, these scales and methods are the standard within the gem trade for characterization of diamonds. Current research at gemological laboratories concerns the development of improved detection techniques for treated and synthetic diamonds, as well as for treated sapphires and pearls; the GIA Laboratory provides a variety of gem identification reports.
Diamond grading reports for unmounted natural and synthetic diamonds determine their key characteristics: color, clarity and carat weight. GIA issues two types of the more complete being the Diamond Grading Report; the reports contain a number of measurements, including of carat weight as well as a diagram of where and what types of inclusions are located in the diamond. Diamond grading reports are now demanded by most consumers purchasing diamonds over a certain size for over 0.5 carat, always for over 1.0 carat, are considered an important tool in guaranteeing that a diamond is represented to a potential buyer. GIA colored stone identification reports may include a comment about any treatments detected and an opinion of country of origin for ruby, sapphire and tourmaline. Pearl reports specify the weight, shape, color and presence of treatments. GIA offers several programs and courses online through an interactive eLearning format, through its 12 campus locations around the world; the institute offers corporate training programs and works with trade organizations worldwide to provide technical training in gemstones and jewelry.
The Graduate Gemologist diploma offers a comprehensive education