Truck wages are any arrangement under which wages are paid in the form of: payment in kind. Truck, in this context, is a archaic English language word meaning "exchange" or "barter"; the term truck system refers to a specific set of practices under which truck wages or similar are used to defraud and/or exploit workers. This may take one or both of two forms. Firstly, the payment in kind, credit, or money substitute is demonstrably of a lesser market value than the amount of money that would be paid for the same work. Secondly, truck systems are regarded as undesirable or illegal because they limit employees' ability to choose how to spend their earnings. For example, credit or company scrip might be usable only for the purchase of goods at a monopolistic company-owned store, at which prices are set artificially high; as long as the company store is the only party able and willing to accept scrip for needed goods, there is no meaningful competition to lower prices. Hence, a truck system relies on a closed economic system in which employees are: required to become indebted, subject to a retail monopoly in essential goods and/or considered unfree labour.
Such a system may appear to be a fair and legal exchange, whereby an employer offers something of value in exchange for labour, with the result being the same as if the laborer had been paid money and spent the money on those necessities. Truck systems have been outlawed in many countries by labour law and employment standards. While truck systems had long existed in many parts of the world, it was widespread during the 18th and early-19th centuries in Britain. Despite a long history of legislation intended to curb truck systems, they remained common into the 20th century. In a prosecution brought against a Manchester cotton manufacturer in 1827 one worker gave evidence that he had received wages of only two shillings in nine months. In Britain the truck system was sometimes referred to as the Tommy system; the 1901 edition of Brewer's Dictionary of Phrase and Fable notes the Tommy shop as: Where wages are paid to workmen who are expected to lay out a part of the money for the good of the shop.
Tommy means the food taken by a workman in his handkerchief. In the Midland Tour of his Rural Rides, the agriculturist and political reformer William Cobbett reports the use of "the truck or tommy system" in Wolverhampton and Shrewsbury, he describes the logic of the Tommy as: The manner of carrying on the tommy system is this: suppose there to be a master who employs a hundred men. That hundred men, let; this is not the case in the iron-works. These men lay out weekly the whole of the hundred pounds in victuals, clothing, bedding and house-rent. Now, the master finding the profits of his trade fall off much, being at the same time in want of money to pay the hundred pounds weekly, perceiving that these hundred pounds are carried away at once, given to shopkeepers of various descriptions. Or more, he determines to keep this thirty per cent. To himself. A year. He, sets up a tommy shop: a long place containing every commodity that the workman can want and house-room excepted. Although Cobbett sees nothing wrong in itself in the tommy system, he notes that The only question is in this case of the manufacturing tommy work, whether the master charges a higher price than the shop-keepers would charge.
However, in rural regions he notes the virtual monopoly of the shopkeeper: I have had to observe on the cruel effects of the suppression of markets and fairs, on the consequent power of extortion possessed by the country shop-keepers. And what a thing it is to reflect on, that these shopkeepers have the whole of the labouring men of England in their debt. One reason for the truck system in the early history of the United States is that there was no national form of paper currency and an insufficient supply of coinage. Banknotes were the majority of the money in circulation. Banknotes were discounted relative to gold and silver and the discount depended on the financial strength of the issuing bank and distance from the bank. During financial crises many banks failed and their notes became worthless; the popular song "Sixteen Tons" dramatizes this scenario, with the narrator telling Saint Peter, "I can't go. Truck systems existed in tandem with company towns, which contained company stores. However, a truck system is not a prere
Fast-moving consumer goods
Fast-Moving Consumer Goods or Consumer Packaged Goods are products that are sold and at a low cost. Examples include non-durable goods such as packaged foods, toiletries, over-the-counter drugs, other consumables. Many fast-moving consumer goods have a short shelf life, either as a result of high consumer demand or as the result of fast deterioration; some FMCGs, such as meats, vegetables, dairy products, baked goods are perishable. Other goods, such as pre-packaged foods, soft drinks and toiletries have high turnover rates. Sales are sometimes influenced by holiday and/or seasonal periods and by the discounts offered. Packaging is critical for FMCGs. To become successful in the dynamic and innovative FMCG segment, a company not only has to be acquainted with the consumer and logistics, but it has to have a sound understanding of packaging and product promotion; the packaging has to be both customers-attracting. Logistics and distribution systems require secondary and tertiary packaging to maximize efficiency.
Unit or primary packaging protects products and extends shelf life while providing product information to consumers. The profit margin on FMCG products can be small, but they are sold in large quantities. According to BASES, 84% of professionals working for fast-moving consumer goods are under more pressure to bring new products to the market than they were five or ten years ago. With this in mind, 47% of those surveyed confessed that product testing suffers most when deadlines are accelerated; the growth of the internet over the past quarter century and the rise of the brand community phenomenon have contributed to the demand for FMCGs. For example, according to German research group AGOF's internet facts, 73% of Germany's population is online. Additionally, 83.7% of internet users claim to use the web to search for information and 68.3% to shop online. However, most FMCGs are not ordered online as most consumers opt for the convenience of nearby brick and mortar stores for products in this category.
The following are the main characteristics of FMCGs: Consumers in rural areas purchase goods from nearby towns and villages. There has been a shift in consumer purchase behavior towards purchasing locally, that has prompted the need for better local promotional efforts to generate brand awareness in small towns. FMCGs play a large part in the economy, as inelastic products that touch every part of consumer life in one way or another. Businesses that supply FMCGs to a rural community can help provide employment opportunities, as well as drive down the cost of such products in those rural areas. For instance, the FMCG sector in India is the 4th largest sector in its economy and generates employment for more than 3 million people in downstream activities; the retail market for FMCGs includes businesses in the following International Standard Industrial Classification categories: Supplier industries for FMCGs include: Fast-moving consumer electronics are low-priced generic items with many comparable alternatives offering similar functionality.
Examples of consumer electronics include: mobile phones, MP3 players, game players, headphones, OTG cables, digital disposable cameras. Category management Mass production Trade promotion management Shelf-ready packaging
Fractional currency referred to as shinplasters, was introduced by the United States federal government following the outbreak of the Civil War. These fractional notes were in use between 21 August 1862 and 15 February 1876, issued in 3, 5, 10, 15, 25, 50 cent denominations across five issuing periods; the complete type set below is part of the National Numismatic Collection, housed at the National Museum of American History, part of the Smithsonian Institution. The Civil War economy catalyzed a shortage of United States coinage—gold and silver coins were hoarded given their intrinsic bullion value relative to irredeemable paper currency at the time. In late 1861, to help finance the Civil War, the U. S. government borrowed gold coin from New York City banks in exchange for Seven-thirties treasury notes and the New York banks sold them to the public for gold to repay the loan. In December 1861, the Trent Affair shook public confidence with the threat of war on a second front; the United States Department of the Treasury suspended specie payments and banks in New York City stopped redeeming paper money for gold and silver.
In the absence of gold and silver coin, the premium for specie began to devalue paper currency. After the New York banks suspended specie payments the premium on gold rose from 1–3% over paper in early January 1862 to 9% over paper in June 1862, by which time one paper dollar was worth 91.69 cents in gold. This fueled currency speculation, created significant disruption across businesses and trade. Alternate methods of providing small change included the reintroduction of Spanish quarter dollars in Philadelphia, cutting dollar bills in quarters or halves, refusing to provide change, or the issuance of locally issued shinplasters, forbidden by law in many states. Treasurer of the United States Francis E. Spinner has been credited with finding the solution to the shortage of coinage: he created postage currency. Postage currency was the first of five issues of US Post Office fractional paper money printed in 5-cent, 10-cent, 25-cent, 50-cent denominations and issued from 21 August 1862 through 27 May 1863.
Spinner proposed using postage stamps, affixed to Treasury paper, with his signature on the bottom. Based on this initiative, Congress supported a temporary solution involving fractional currency and on 17 July 1862 President Lincoln signed the Postage Currency Bill into law; the intent, was not that stamps should be a circulating currency. The design of the First Issue was directly based on Spinner’s original handmade examples; some varieties had perforated stamp-like edge. While not legal tender, postage currency could be exchanged for United States Notes in $5 lots and were receivable in payment of all dues to the United States, up to $5. Subsequent issues would no longer include images of stamps and were referred to as Fractional Currency. Despite the July 1862 legislation, postage stamps remained a form of currency until postage currency gained momentum in the spring of 1863. In 1863, Secretary Chase asked for a new fractional currency, harder to counterfeit than the postage currency; the new fractional currency notes were different from the 1862 postage currency issues.
They were more colorful with printing on the reverse, several anti-counterfeiting measures were employed: experimental paper, adding surcharges, blue end paper, silk fibers, watermarks to name a few. Fractional currency shields which had single sided specimens were sold to banks to provide a standard for comparison for detecting counterfeits. Postage and fractional currency remained in use until 1876, when Congress authorized the minting of fractional silver coins to redeem the outstanding fractional currency. Inspiration and proof for the First Issue Three people were depicted on fractional currency during their lifetime: Francis E. Spinner, William P. Fessenden, Spencer M. Clark. Both Spinner and Clark decided to have their portrait depicted on currency, which created controversy. Republican Representative Martin R. Thayer of Pennsylvania was an outspoken critic, suggesting that the Treasury's privilege of portrait selection for currency was being abused. On 7 April 1866, led by Thayer, Congress enacted legislation stating "that no portrait or likeness of any living person hereafter engraved, shall be placed upon any of the bonds, notes, fractional or postal currency of the United States."
On the date of passage, the plates for the 15-cent note depicting William Tecumseh Sherman and Ulysses S. Grant had not been completed and thus fell under the scope of the new law; the Sherman-Grant notes exist only as specimens. Federal Reserve System List of people on United States banknotes Shinplaster Treasury Note United States postal notes
American Revolutionary War
The American Revolutionary War known as the American War of Independence, was an 18th-century war between Great Britain and its Thirteen Colonies which declared independence as the United States of America. After 1765, growing philosophical and political differences strained the relationship between Great Britain and its colonies. Patriot protests against taxation without representation followed the Stamp Act and escalated into boycotts, which culminated in 1773 with the Sons of Liberty destroying a shipment of tea in Boston Harbor. Britain responded by closing Boston Harbor and passing a series of punitive measures against Massachusetts Bay Colony. Massachusetts colonists responded with the Suffolk Resolves, they established a shadow government which wrested control of the countryside from the Crown. Twelve colonies formed a Continental Congress to coordinate their resistance, establishing committees and conventions that seized power. British attempts to disarm the Massachusetts militia in Concord led to open combat on April 19, 1775.
Militia forces besieged Boston, forcing a British evacuation in March 1776, Congress appointed George Washington to command the Continental Army. Concurrently, the Americans failed decisively in an attempt to invade Quebec and raise insurrection against the British. On July 2, 1776, the Second Continental Congress voted for independence, issuing its declaration on July 4. Sir William Howe launched a British counter-offensive, capturing New York City and leaving American morale at a low ebb. However, victories at Trenton and Princeton restored American confidence. In 1777, the British launched an invasion from Quebec under John Burgoyne, intending to isolate the New England Colonies. Instead of assisting this effort, Howe took his army on a separate campaign against Philadelphia, Burgoyne was decisively defeated at Saratoga in October 1777. Burgoyne's defeat had drastic consequences. France formally allied with the Americans and entered the war in 1778, Spain joined the war the following year as an ally of France but not as an ally of the United States.
In 1780, the Kingdom of Mysore attacked the British in India, tensions between Great Britain and the Netherlands erupted into open war. In North America, the British mounted a "Southern strategy" led by Charles Cornwallis which hinged upon a Loyalist uprising, but too few came forward. Cornwallis Cowpens, he retreated to Yorktown, intending an evacuation, but a decisive French naval victory deprived him of an escape. A Franco-American army led by the Comte de Rochambeau and Washington besieged Cornwallis' army and, with no sign of relief, he surrendered in October 1781. Whigs in Britain had long opposed the pro-war Tories in Parliament, the surrender gave them the upper hand. In early 1782, Parliament voted to end all offensive operations in America, but the war continued overseas. Britain scored a major victory over the French navy. On September 3, 1783, the belligerent parties signed the Treaty of Paris in which Great Britain agreed to recognize the sovereignty of the United States and formally end the war.
French involvement had proven decisive. Spain failed in its primary aim of recovering Gibraltar; the Dutch were compelled to cede territory to Great Britain. In India, the war against Mysore and its allies concluded in 1784 without any territorial changes. Parliament passed the Stamp Act in 1765 to pay for British military troops stationed in the American colonies after the French and Indian War. Parliament had passed legislation to regulate trade, but the Stamp Act introduced a new principle of a direct internal tax. Americans began to question the extent of the British Parliament's power in America, the colonial legislatures argued that they had exclusive right to impose taxes within their jurisdictions. Colonists condemned the tax because their rights as Englishmen protected them from being taxed by a Parliament in which they had no elected representatives. Parliament argued that the colonies were "represented virtually", an idea, criticized throughout the Empire. Parliament did repeal the act in 1766, but it affirmed its right to pass laws that were binding on the colonies.
From 1767, Parliament began passing legislation to raise revenue for the salaries of civil officials, ensuring their loyalty while inadvertently increasing resentment among the colonists, opposition soon became widespread. Enforcing the acts proved difficult; the seizure of the sloop Liberty in 1768 on suspicions of smuggling triggered a riot. In response, British troops occupied Boston, Parliament threatened to extradite colonists to face trial in England. Tensions rose after the murder of Christopher Seider by a customs official in 1770 and escalated into outrage after British troops fired on civilians in the Boston Massacre. In 1772, colonists in Rhode Island burned a customs schooner. Parliament repealed all taxes except the one on tea, passing the Tea Act in 1773, attempting to force colonists to buy East India Company tea on which the Townshend duties were paid, thus implicitly agreeing to Parliamentary supremacy; the landing of the tea was resisted in all colonies, but the governor of Massachusetts permitted British tea ships to remain in Boston Harbor, so the Sons of Liberty destroyed the tea chests in what became known as the "Boston Tea Party".
Parliament passed punitive legislation. It closed Boston Harbor until the tea was paid for and revoked the Massachusetts Charter, taking upon themselves the right to directly appoint the Massachusetts Governor's Council. Additionally, t
In Australian history, a squatter was a man, either a free settler or ex-convict, who occupied a large tract of Crown land in order to graze livestock. Having no legal rights to the land, they gained its usage by being the first settlers in the area; the term squattocracy, a play on "aristocracy", developed to refer to some of these squatters. The term ‘squatter’ derives from its English usage as a term of contempt for a person who had taken up residence at a place without having legal claim; the use of ‘squatter’ in the early years of European settlement of Australia had a similar connotation, referring to a person who had ‘squatted’ on'unoccupied' land for pastoral or other purposes. In its early derogatory context the term was applied to the illegitimate occupation of land by ticket-of-leave convicts or ex-convicts. From the mid-1820s, the occupation of Crown land without legal title became more widespread carried out by those from the upper echelons of colonial society; as wool began to be exported to England and the colonial population increased, the occupation of pastoral land for raising cattle and sheep progressively became a more lucrative enterprise.
‘Squatting’ had become so widespread by the mid-1830s that Government policy in New South Wales towards the practice shifted from opposition to regulation and control. By that stage, the term ‘squatter’ was applied to those who occupied Crown land under a lease or license, without the negative connotation of earlier times; the term soon developed a class association, suggesting an elevated socio-economic status and entrepreneurial attitude. By 1840 squatters were recognized as being amongst the wealthiest men in the colony of New South Wales, many of them from upper and middle-class English and Scottish families; as unoccupied land with frontage to permanent water became more scarce, the acquisition of runs required larger capital outlays. The term ‘squatter’ came to refer to a person of high social prestige who grazes livestock on a large scale. In Australia the term is still used to describe large landowners in rural areas with a history of pastoral occupation. Hence the term, Squattocracy, a play on aristocracy.
When the British settled at Sydney Cove in 1788 the colonial government in Australia claimed all lands for the Crown. Governors of New South Wales were given authority to make land grants to free settlers and non-commissioned officers; when land grants were made they were subject to conditions such as a quit rent and a requirement for the grantee to reside on and cultivate the land. In line with the British government's policy of concentrated land settlement for the colony Governors of New South Wales tended to be prudent in making land grants. By the end of Governor Macquarie’s tenure in 1821 less than 1,000 square miles of land had been granted in the colony of New South Wales. During Governor Brisbane's term, land grants were more made. In addition regulations introduced during Brisbane’s term enabled settlers to purchase up to 4,000 acres at 5s an acre. During Governor Brisbane's four years in office the total amount of land in private hands doubled; the impetus for squatting activities during this early phase was an expanding market for meat as the population of Sydney increased.
The first steps in establishing wool production in New South Wales created an increased demand for land. Squatting activity was carried out by emancipist and native-born colonists as they sought to define and consolidate their place within society. From 1824 there were regulations to limit squatting; the limits of location known as the Nineteen Counties, were defined from 1826. This was because of the expense of providing government services and difficulty supervising convicts over a wide tract of land; however the nature of the sheep industry which required access to vast grassy plains meant that despite the limitations, squatters occupied land far beyond the colony's official limits. From 1833 Commissioners of Crown Lands were appointed under the Encroachment Act to manage squatting. From 1836 legislation was passed to legalise squatting with grazing rights available for ten pounds per year; this fee was for a lease of the land, rather than ownership, what the squatters wanted. The 1847 Orders in Council divided land into settled and unsettled areas, with pastoral leases of one, eight and 14 years for each category respectively.
From here on, squatters were able to purchase parts of their land, as opposed to just leasing it. It is known that many squatters fought battles with advanced European weapons against the local Indigenous Australian communities in the areas they occupied, though such battles were investigated; these battles/massacres are the subject of the history wars, being the term for an ongoing public discussion on Australia's interpretation of its history. Squatters were only prosecuted for killing indigenous people; the first conviction of white men for the massacre of Indigenous people followed the Myall Creek massacre in 1838, in which Aboriginal subject status was employed by colonial courts for the rare co-incidence of local and imperial authorities. Whilst life was tough for the squatters, with their huge landholdings many of them became wealthy and were described as the "squattoc
An adhesive bandage called a sticking plaster, medical plaster, or plaster in British English, is a small medical dressing used for injuries not serious enough to require a full-size bandage. They are known by the genericized trademarks Band-Aid or Elastoplast; the adhesive bandage protects the wound and scab from friction, bacteria and dirt. Thus, the healing process of the body is less disturbed; some of the dressings have antiseptic properties. An additional function is to hold the two cut ends of the skin together to make the healing process faster. An adhesive bandage is a small, flexible sheet of material, sticky on one side, with a smaller, non-sticky, absorbent pad stuck to the sticky side; the pad is placed against the wound, overlapping edges of the sticky material are smoothed down so they stick to the surrounding skin. Adhesive bandages are packaged in a sealed, sterile bag, with a backing covering the sticky side, they come in a variety of shapes. The backing and bag are made of coated paper, but may be made of plastic.
The adhesive sheet is a woven fabric, plastic, or latex strip. It may not be waterproof; the adhesive is an acrylate, including methacrylates and epoxy diacrylates. The absorbent pad is made of cotton, there is sometimes a thin, porous-polymer coating over the pad, to keep it from sticking to the wound; the pad may be medicated with an antiseptic solution. In some bandages, the pad is made of a water-absorbing hydrogel; this is common in dressings used on blisters, as the gel acts as a cushion. Many people have allergies to some of these materials latex and some adhesives. Special bandages are used by food preparation workers; these are waterproof, have strong adhesive so they are less to fall off, are blue so that they are more visible in food. Some include a metal strip detectable by machines used in food manufacturing to ensure that food is free from foreign objects. Transdermal patches are adhesive bandages with the function to distribute medication through the skin, rather than protecting a wound.
Butterfly closures known as butterfly stitches, are thin adhesive strips which can be used to close small wounds. They are applied across the laceration in a manner which pulls the skin on either side of the wound together, they are not true sutures, but can be used in addition to, or in place of real sutures for small wounds. Butterfly stitches can be advantageous in that they do not need a medical professional to be placed or removed, are thus a common item in first aid kits. Band-Aid Curad Elastoplast Nexcare Dressing Media related to Adhesive bandages at Wikimedia Commons
A private currency is a currency issued by a private entity, be it an individual, a commercial business, a nonprofit or decentralized common enterprise. It is contrasted with fiat currency issued by governments or central banks. In many countries, the issuance of private paper currencies and/or the minting of metal coins intended to be used as currency may be a criminal act such as in the United States. Digital cryptocurrency is sometimes treated differently. Today, there are over four thousand issued currencies in more than 35 countries; these include commercial trade exchanges that use barter credits as units of exchange, private gold and silver exchanges, local paper money, computerized systems of credits and debits, digital currencies in circulation, such as digital gold currency. In the United States, the Free Banking Era lasted between 1837 and 1866, when anyone could issue paper money. States, private banks and construction companies, restaurants and individuals printed an estimated 8,000 different types of money by 1860.
If an issuer went bankrupt, left town, or otherwise went out of business, the note would be worthless. Such organizations earned the nickname of "wildcat banks" for a reputation of unreliability; the National Bank Act of 1863 ended the "wildcat bank" period. See also: History of free banking. In Australia, the Bank Notes Tax Act 1910 shut down the circulation of private currencies by imposing a prohibitive tax on the practice; the Act was repealed by the Commonwealth Bank Act 1945. Now, s. 44 of the Australian Reserve Bank Act 1959, prohibits this practice. In 1976, Wickrema Weerasooria published an article which suggested that the issuing of bank cheques violated this section, though some banks responded that since bank cheques were printed with the words "not negotiable" on them, the cheques were not intended for circulation and thus did not violate the statute. In Hong Kong, although the government issues currency, bank-issued private currency is the dominant medium of exchange. Most automated teller machines dispense private Hong Kong bank notes.
In Scotland, the Bank of Scotland, Clydesdale Bank, the Royal Bank of Scotland, in Northern Ireland, the Bank of Ireland, Danske Bank, First Trust Bank, Ulster Bank, are authorised by Parliament to issue Pound sterling bank notes. They are subject to central bank regulations concerning "ring-fenced backing assets" and are backed in part by deposits at the Bank of England, they are exchangeable with other pound notes on a one-to-one basis, circulate within the United Kingdom, though not legal tender, not in Scotland and Northern Ireland. In fact, technically, no banknote qualifies as legal tender in Northern Ireland. England has had the Totnes pound since it was launched by Transition Towns Totnes Economics and Livelihoods Group in March 2007; as at September 2008, about 70 businesses in Totnes were accepting the Totnes Pound. Other local currencies launched since include the Lewes Pound, the Brixton Pound, the Stroud Pound and the Bristol Pound, which allows for electronic payments. Austria had the Wörgl Experiment from July 1932 to September 1933.
Bavaria, has had the Chiemgauer since 2003. As of 2011 there were over 550,000 in circulation. Since starting in 2006, the "City Initiative Karlsruhe" has issued the Karlsruher which has no nominal value; every coin has the value of 50 Eurocents and is used in parking garages. As of 2009, 120 companies in Karlsruhe accept the Karlsruher and grant a discount when paid with it. In Canada, numerous complementary currencies are in use, such as the Calgary Dollar and Toronto dollar; however private currencies in Canada cannot be referred to as being legal tender and many private currencies avoid the word "dollar", using names like "coupons" or "bucks", to avoid confusion. Examples include: Canadian Tire money and Pioneer Energy's Bonus Bucks. Customer reward and loyalty programs operated by businesses are sometimes counted as private currencies. However, though "points" or "miles" may be exchangeable for merchandise or travel from the program sponsor, most of them lack the key element for currency of being a medium of exchange transferable to other individuals and usable as payment for items from other vendors.
A few programs do have "partnerships" allowing this to some extent, permit the transfer of points or miles. Some startups, such as the Canadian website Points.com, have sought to make loyalty "points" more currency-like by creating an exchange where points from one loyalty program can be traded for points in other such programs. A cryptocurrency is a form of digital or virtual currency where cryptography secures the transactions and controls the creation of additional units of the currency. A cryptocurrency wallet can be used to store the public and private keys which can be used to receive or spend the cryptocurrency; the cryptographic systems used allow for decentralisation. In terms of total market value, Bitcoin is the largest cryptocurrency, but there are over 700 digital currencies in existence. On 6 August 2013, Federal Judge Amos Mazzant of the Eastern District of Texas of the Fifth Circuit ruled that bitcoins are