Art Deco, sometimes referred to as Deco, is a style of visual arts and design that first appeared in France just before World War I. Art Deco influenced the design of buildings, jewelry, cars, movie theatres, ocean liners, everyday objects such as radios and vacuum cleaners, it took its name, short for Arts Décoratifs, from the Exposition internationale des arts décoratifs et industriels modernes held in Paris in 1925. It combined modern styles with rich materials. During its heyday, Art Deco represented luxury, glamour and faith in social and technological progress. Art Deco was a pastiche of many different styles, sometimes contradictory, united by a desire to be modern. From its outset, Art Deco was influenced by the bold geometric forms of Cubism, it featured rare and expensive materials, such as ebony and ivory, exquisite craftsmanship. The Chrysler Building and other skyscrapers of New York built during the 1920s and 1930s are monuments of the Art Deco style. In the 1930s, during the Great Depression, the Art Deco style became more subdued.
New materials arrived, including chrome plating, stainless steel, plastic. A sleeker form of the style, called Streamline Moderne, appeared in the 1930s. Art Deco is one of the first international styles, but its dominance ended with the beginning of World War II and the rise of the functional and unadorned styles of modern architecture and the International Style of architecture that followed. Art Deco took its name, short for Arts Décoratifs, from the Exposition Internationale des Arts Décoratifs et Industriels Modernes held in Paris in 1925, though the diverse styles that characterize Art Deco had appeared in Paris and Brussels before World War I; the term arts décoratifs was first used in France in 1858. In 1868, Le Figaro newspaper used the term objets d'art décoratifs with respect to objects for stage scenery created for the Théâtre de l'Opéra. In 1875, furniture designers, textile and glass designers, other craftsmen were given the status of artists by the French government. In response to this, the École royale gratuite de dessin founded in 1766 under King Louis XVI to train artists and artisans in crafts relating to the fine arts, was renamed the National School of Decorative Arts.
It took its present name of ENSAD in 1927. During the 1925 Exposition the architect Le Corbusier wrote a series of articles about the exhibition for his magazine L'Esprit Nouveau under the title, "1925 EXPO. ARTS. DÉCO." which were combined into a book, "L'art décoratif d'aujourd'hui". The book was a spirited attack on the excesses of the lavish objects at the Exposition; the actual phrase "Art déco" did not appear in print until 1966, when it featured in the title of the first modern exhibit on the subject, called Les Années 25: Art déco, Stijl, Esprit nouveau, which covered the variety of major styles in the 1920s and 1930s. The term Art déco was used in a 1966 newspaper article by Hillary Gelson in the Times, describing the different styles at the exhibit. Art Deco gained currency as a broadly applied stylistic label in 1968 when historian Bevis Hillier published the first major academic book on the style: Art Deco of the 20s and 30s. Hillier noted that the term was being used by art dealers and cites The Times and an essay named "Les Arts Déco" in Elle magazine as examples of prior usage.
In 1971, Hillier organized an exhibition at the Minneapolis Institute of Arts, which he details in his book about it, The World of Art Deco. The emergence of Art Deco was connected with the rise in status of decorative artists, who until late in the 19th century had been considered as artisans; the term "arts décoratifs" had been invented in 1875, giving the designers of furniture and other decoration official status. The Société des artistes décorateurs, or SAD, was founded in 1901, decorative artists were given the same rights of authorship as painters and sculptors. A similar movement developed in Italy; the first international exhibition devoted to the decorative arts, the Esposizione international d'Arte decorative moderna, was held in Turin in 1902. Several new magazines devoted to decorative arts were founded in Paris, including Arts et décoration and L'Art décoratif moderne. Decorative arts sections were introduced into the annual salons of the Sociéte des artistes français, in the Salon d'automne.
French nationalism played a part in the resurgence of decorative arts. In 1911, the SAD proposed the holding of a major new international exposition of decorative arts in 1912. No copies of old styles were to be permitted; the exhibit was postponed until 1914 because of the war, postponed until 1925, when it gave its name to the whole family of styles known as Déco. Parisian department stores and fashion designers played an important
A public company, publicly traded company, publicly held company, publicly listed company, or public limited company is a corporation whose ownership is dispersed among the general public in many shares of stock which are traded on a stock exchange or in over the counter markets. In some jurisdictions, public companies over a certain size must be listed on an exchange. A public company can be unlisted. Public companies are formed within the legal systems of particular nations, therefore have national associations and formal designations which are distinct and separate. For example one of the main public company forms in the United States is called a limited liability company, in France is called a "society of limited responsibility", in Britain a public limited company, in Germany a company with limited liability. While the general idea of a public company may be similar, differences are meaningful, are at the core of international law disputes with regard to industry and trade. In the early modern period, the Dutch developed several financial instruments and helped lay the foundations of modern financial system.
The Dutch East India Company became the first company in history to issue bonds and shares of stock to the general public. In other words, the VOC was the first publicly traded company, because it was the first company to be actually listed on an official stock exchange. While the Italian city-states produced the first transferable government bonds, they did not develop the other ingredient necessary to produce a fledged capital market: corporate shareholders; as Edward Stringham notes, "companies with transferable shares date back to classical Rome, but these were not enduring endeavors and no considerable secondary market existed." The securities of a publicly traded company are owned by many investors while the shares of a held company are owned by few shareholders. A company with many shareholders is not a publicly traded company. In the United States, in some instances, companies with over 500 shareholders may be required to report under the Securities Exchange Act of 1934. Public companies possess some advantages over held businesses.
Publicly traded companies are able to raise funds and capital through the sale of shares of stock. This is the reason publicly traded corporations are important; the profit on stock is gained in form of capital gain to the holders. The financial media and the public are able to access additional information about the business, since the business is legally bound, motivated, to publicly disseminate information regarding the financial status and future of the company to its many shareholders and the government; because many people have a vested interest in the company's success, the company may be more popular or recognizable than a private company. The initial shareholders of the company are able to share risk by selling shares to the public. If one were to hold a 100% share of the company, he or she would have to pay all of the business's debt; this increases asset liquidity and the company does not need to depend on funding from a bank. For example, in 2013 Facebook founder Mark Zuckerberg owned 29.3% of the company's class A shares, which gave him enough voting power to control the business, while allowing Facebook to raise capital from, distribute risk to, the remaining shareholders.
Facebook was a held company prior to its initial public offering in 2012. If some shares are given to managers or other employees, potential conflicts of interest between employees and shareholders will be remitted; as an example, in many tech companies, entry-level software engineers are given stock in the company upon being hired. Therefore, the engineers have a vested interest in the company succeeding financially, are incentivized to work harder and more diligently to ensure that success. Many stock exchanges require that publicly traded companies have their accounts audited by outside auditors, publish the accounts to their shareholders. Besides the cost, this may make useful information available to competitors. Various other annual and quarterly reports are required by law. In the United States, the Sarbanes–Oxley Act imposes additional requirements; the requirement for audited books is not imposed by the exchange known as OTC Pink. The shares may be maliciously held by outside shareholders and the original founders or owners may lose benefits and control.
The principal-agent problem, or the agency problem is a key weakness of public companies. The separation of a company's ownership and control is prevalent in such countries as U. K and U. S. In the United States, the Securities and Exchange Commission requires that firms whose stock is traded publicly report their major shareholders each year; the reports identify all institutional shareholders, all company officials who own shares in their firm, any individual or institution owning more than 5% of the firm's stock. For many years, newly created companies were held but held initial
Bay Street is a major thoroughfare in Downtown Toronto, Canada. It is the centre of Toronto's Financial District and is used by metonymy to refer to Canada's financial services industry since succeeding Montreal's St. James Street in that role in the 1970s. Bay Street ends at Davenport Road in the north; the original section of Bay Street ran only as far north as Queen Street West. Sections north of Queen Street were renamed Bay Street as several other streets were consolidated and several gaps filled in to create a new thoroughfare in the 1920s; the largest of these streets, Terauley Street, ran from Queen Street West to Grenville Street. At these two points, there is a curve in Bay Street. "Bay Street" is used as a metonym to refer to Toronto's Financial District and the Canadian financial sector as a whole, similar to Wall Street in the United States. "Bay Street banker", as in the phrase "cold as a Bay Street banker's heart", was a term of opprobrium among Prairie farmers who feared that Toronto-based financial interests were hurting them.
Within the legal profession, the term Bay Street is used colloquially to refer to the large, full-service business law firms of Toronto. The street was known as Bear Street because of frequent bear sightings in the early history of Toronto, it was renamed Bay Street in 1797 from the fact that it connected Lot Street to a bay at the Toronto Harbour. In the 19th century the intersection of Bay and King Street was home to Toronto's major newspapers: the Mail Building, the old Toronto Star Building, the William H. Wright Building were all located near the intersection; until 1922, the section of Bay running north from Queen Street and ending at College Street was known as Terauley Street. Several discontinuous streets existed north of College Street to Davenport Road. By-Law 9316 joined these streets together as far north as Scollard Street in 1922. By-Law 9884, enacted on January 28, 1924, changed the name of Ketchum Avenue to Bay Street, extending it to Davenport Road. There is a short street called Terauley Lane running west of Bay from Grenville Street to Grosvenor Street.
The intersection of Bay and King Street is seen as the centre of Canadian banking and finance. Four of Canada's five major banks have office towers at the intersection — the Bank of Montreal at First Canadian Place, Scotiabank at Scotia Plaza, the Canadian Imperial Bank of Commerce at Commerce Court, Toronto-Dominion Bank at the Toronto-Dominion Centre — and the fifth, the Royal Bank at Royal Bank Plaza, is one block south. Bay and King was known as the "MINT Corner" from Montreal, Nova Scotia, Toronto, but since 1961 the Imperial Bank has been part of CIBC and the Bank of Nova Scotia has rebranded itself, so this nickname is no longer used; the core cluster of towers has crept north with the addition of the 50-storey Bay Adelaide Centre and The Adelaide Hotel Toronto. Significant condominium development on Bay, north of the financial district, boomed during the 1990s and construction continues on large, 40-plus storey condominiums and multi-use buildings today; the area is defined by Dundas Street to the south and Bloor/Yorkville to the north and crosses through Toronto's Discovery District and Mink Mile.
The area attracts many who work in the financial district and those who work in the Discovery District, nearby hospitals and schools. More than 67% of residents in this area are in the working ages of 25-64 higher than the City of Toronto's average of 58%. Notable buildings include: Toronto Coach Terminal Residences of College Park 777 Bay Murano Ontario Government Buildings Sutton Place Hotel Manulife Centre Nathan Phillips Square Flagship store of Hudson's Bay CompanyAnother prominent intersection is the one nearest Yorkville at Bay and Bloor, the centre of an expensive shopping district; the intersection of Bay and Bloor is the location of the Toronto Transit Commission's Bay subway station. Bay Street is served by the route 6 Bay bus, one of the few downtown bus routes; the street used to be served by streetcars lines, which were phased out after the north-south Yonge and University subway lines opened in 1954 and 1963 respectively. The remaining streetcar tracks between Dundas and College Streets are now used for short turns and diversions.
City of London Financial district Wall Street Bay Street at Google Maps Bay Street Corridor neighbourhood profile
Ontario is one of the 13 provinces and territories of Canada and is located in east-central Canada. It is Canada's most populous province accounting for 38.3 percent of the country's population, is the second-largest province in total area. Ontario is fourth-largest jurisdiction in total area when the territories of the Northwest Territories and Nunavut are included, it is home to the nation's capital city and the nation's most populous city, Ontario's provincial capital. Ontario is bordered by the province of Manitoba to the west, Hudson Bay and James Bay to the north, Quebec to the east and northeast, to the south by the U. S. states of Minnesota, Ohio and New York. All of Ontario's 2,700 km border with the United States follows inland waterways: from the west at Lake of the Woods, eastward along the major rivers and lakes of the Great Lakes/Saint Lawrence River drainage system; these are the Rainy River, the Pigeon River, Lake Superior, the St. Marys River, Lake Huron, the St. Clair River, Lake St. Clair, the Detroit River, Lake Erie, the Niagara River, Lake Ontario and along the St. Lawrence River from Kingston, Ontario, to the Quebec boundary just east of Cornwall, Ontario.
There is only about 1 km of land border made up of portages including Height of Land Portage on the Minnesota border. Ontario is sometimes conceptually divided into Northern Ontario and Southern Ontario; the great majority of Ontario's population and arable land is in the south. In contrast, the larger, northern part of Ontario is sparsely populated with cold winters and heavy forestation; the province is named after Lake Ontario, a term thought to be derived from Ontarí:io, a Huron word meaning "great lake", or skanadario, which means "beautiful water" in the Iroquoian languages. Ontario has about 250,000 freshwater lakes; the province consists of three main geographical regions: The thinly populated Canadian Shield in the northwestern and central portions, which comprises over half the land area of Ontario. Although this area does not support agriculture, it is rich in minerals and in part covered by the Central and Midwestern Canadian Shield forests, studded with lakes and rivers. Northern Ontario is subdivided into two sub-regions: Northeastern Ontario.
The unpopulated Hudson Bay Lowlands in the extreme north and northeast swampy and sparsely forested. Southern Ontario, further sub-divided into four regions. Despite the absence of any mountainous terrain in the province, there are large areas of uplands within the Canadian Shield which traverses the province from northwest to southeast and above the Niagara Escarpment which crosses the south; the highest point is Ishpatina Ridge at 693 metres above sea level in Temagami, Northeastern Ontario. In the south, elevations of over 500 m are surpassed near Collingwood, above the Blue Mountains in the Dundalk Highlands and in hilltops near the Madawaska River in Renfrew County; the Carolinian forest zone covers most of the southwestern region of the province. The temperate and fertile Great Lakes-Saint Lawrence Valley in the south is part of the Eastern Great Lakes lowland forests ecoregion where the forest has now been replaced by agriculture and urban development. A well-known geographic feature is part of the Niagara Escarpment.
The Saint Lawrence Seaway allows navigation to and from the Atlantic Ocean as far inland as Thunder Bay in Northwestern Ontario. Northern Ontario occupies 87 percent of the surface area of the province. Point Pelee is a peninsula of Lake Erie in southwestern Ontario, the southernmost extent of Canada's mainland. Pelee Island and Middle Island in Lake Erie extend farther. All are south of 42°N – farther south than the northern border of California; the climate of Ontario varies by location. It is affected by three air sources: cold, arctic air from the north; the effects of these major air masses on temperature and precipitation depend on latitude, proximity to major bodies of water and to a small extent, terrain relief. In general, most of Ontario's climate is classified as humid continental. Ontario has three main climatic regions; the surrounding Great Lakes influence the climatic region of southern Ontario. During the fall and winter months, heat stored from the lakes is released, moderating the climate near the shores of the lakes.
This gives some parts of southern Ontario milder winters than mid-continental areas at lower latitudes. Parts of Southwestern Ontario have a moderate humid continental climate, similar to that of the inland Mid-Atlantic states and the Great Lakes portion of the Midwestern United States; the region has warm to cold winters. Annual precipitation is well distributed throughout the year. Most of this region lies in the lee of the Great Lakes. In December 2010, the snowbelt set a new record when it was h
An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group. These advantages include an ability to: hire professional investment managers, which may be able to offer better returns and more adequate risk management, it remains unclear whether professional active investment managers can reliably enhance risk adjusted returns by an amount that exceeds fees and expenses of investment management. Terminology varies with country but investment funds are referred to as investment pools, collective investment vehicles, collective investment schemes, managed funds, or funds; the regulatory term is undertaking for collective investment in transferable securities, or short collective investment undertaking. An investment fund may be held by the public, such as a mutual fund, exchange-traded fund, special-purpose acquisition company or closed-end fund, or it may be sold only in a private placement, such as a hedge fund or private equity fund.
The term includes specialized vehicles such as collective and common trust funds, which are unique bank-managed funds structured to commingle assets from qualifying pension plans or trusts. Investment funds are promoted with a wide range of investment aims either targeting specific geographic regions or specified industry sectors. Depending on the country there is a bias towards the domestic market due to familiarity, the lack of currency risk. Funds are selected on the basis of these specified investment aims, their past investment performance, other factors such as fees; the first professionally managed investment funds or collective investment schemes, such as mutual funds, were established in the Dutch Republic. Amsterdam-based businessman Abraham van Ketwich is credited as the originator of the world's first mutual fund; the term "collective investment scheme" is a legal concept deriving from a set of European Union Directives to regulate mutual fund investment and management. The Undertakings for Collective Investment in Transferable Securities Directives 85/611/EEC, as amended by 2001/107/EC and 2001/108/EC created an EU-wide structure, so that funds fulfilling its basic regulations could be marketed in any member state.
The basic aim of collective investment scheme regulation is that the financial "products" that are sold to the public are sufficiently transparent, with full disclosure about the nature of the terms. In the United Kingdom, the primary statute is the Financial Services and Markets Act 2000, where Part XVII, sections 235 to 284 deal with the requirements for a collective investment scheme to operate, it states in section 235 that a “collective investment scheme” means "any arrangements with respect to property of any description, including money, the purpose or effect of, to enable persons taking part in the arrangements to participate in or receive profits or income arising from the acquisition, management or disposal of the property or sums paid out of such profits or income." Collective investment vehicles may be formed by legal trust or by statute. The nature of the vehicle and its limitations are linked to its constitutional nature and the associated tax rules for the type of structure within a given jurisdiction.
There is: A fund manager or investment manager who manages the investment decisions. A fund administrator who manages the trading, reconciliations and unit pricing. A board of directors or trustees who safeguard the assets and ensure compliance with laws and rules; the shareholders or unitholders who own the assets and associated income. A "marketing" or "distribution" company to promote and sell shares/units of the fund. Please see below for general information on specific forms of vehicles in different jurisdictions; the net asset value or NAV is the value of its liabilities. The method for calculating this varies between vehicle types and jurisdiction and can be subject to complex regulation. An open-end fund is equitably divided into shares which vary in price in direct proportion to the variation in value of the fund's net asset value; each time money is invested, new shares or units are created to match the prevailing share price. In this way there is no supply or demand created for shares and they remain a direct reflection of the underlying assets.
A closed-end fund issues a limited number of shares in an initial public offering or through private placement. If shares are issued through an IPO, they are traded on an exchange or directly through the fund manager to create a secondary market subject to market forces. If demand for the shares is high, they may trade at a premium to net asset value. If demand is low they may trade at a discount to net asset value. Further share offerings may be made by the vehicle if demand is high although this may affect the share price. For listed funds, the added element of market forces tends to amplify the performance of the fund increasing investment risk through increased volatility; some collective investment vehicles have the power to borrow money to make further investments. If markets are growing this can allow the vehicle to take advantage of the growth to
Wall Street Crash of 1929
The Wall Street Crash of 1929 known as the Stock Market Crash of 1929 or the Great Crash, is a major stock market crash that occurred in late October 1929. It started on October 24 and continued until October 29, 1929, when share prices on the New York Stock Exchange collapsed, it was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its after effects. The crash, which followed the London Stock Exchange's crash of September, signaled the beginning of the 12-year Great Depression that affected all Western industrialized countries; the Roaring Twenties, the decade that followed World War I that led to the crash, was a time of wealth and excess. Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with the hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector. While American cities prospered, the overproduction of agricultural produce created widespread financial despair among American farmers throughout the decade.
This would be blamed as one of the key factors that led to the 1929 stock market crash. Despite the dangers of speculation, it was believed that the stock market would continue to rise forever. On March 25, 1929, after the Federal Reserve warned of excessive speculation, a small crash occurred as investors started to sell stocks at a rapid pace, exposing the market's shaky foundation. Two days banker Charles E. Mitchell announced that his company, the National City Bank, would provide $25 million in credit to stop the market's slide. Mitchell's move brought a temporary halt to the financial crisis, call money declined from 20 to 8 percent. However, the American economy showed ominous signs of trouble: steel production declined, construction was sluggish, automobile sales went down, consumers were building up high debts because of easy credit. Despite all the economic trouble signs and the market breaks in March and May 1929, stocks resumed their advance in June and the gains continued unabated until early September 1929.
The market had been on a nine-year run that saw the Dow Jones Industrial Average increase in value tenfold, peaking at 381.17 on September 3, 1929. Shortly before the crash, economist Irving Fisher famously proclaimed, "Stock prices have reached what looks like a permanently high plateau." The optimism and the financial gains of the great bull market were shaken after a well-publicized early September prediction from financial expert Roger Babson that "a crash was coming". The initial September decline was thus called the "Babson Break" in the press; that was the start of the Great Crash, but until the severe phase of the crash in October, many investors regarded the September "Babson Break" as a "healthy correction" and buying opportunity. On September 20, the London Stock Exchange crashed when top British investor Clarence Hatry and many of his associates were jailed for fraud and forgery; the London crash weakened the optimism of American investment in markets overseas. In the days leading up to the crash, the market was unstable.
Periods of selling and high volumes were interspersed with brief periods of rising prices and recovery. Selling intensified in mid-October. On October 24, the market lost 11 percent of its value at the opening bell on heavy trading; the huge volume meant that the report of prices on the ticker tape in brokerage offices around the nation was hours late and so investors had no idea what most stocks were trading for at the moment, increasing panic. Several leading Wall Street bankers met to find a solution to the panic and chaos on the trading floor; the meeting included acting head of Morgan Bank. They chose vice president of the Exchange, to act on their behalf. With the bankers' financial resources behind him, Whitney placed a bid to purchase a large block of shares in U. S. Steel at a price well above the current market; as traders watched, Whitney placed similar bids on other "blue chip" stocks. The tactic was similar to one that had ended the Panic of 1907, it succeeded in halting the slide. The Dow Jones Industrial Average recovered.
The rally continued on Friday, October 25, the half-day session on Saturday, October 26, but unlike 1907, the respite was only temporary. Over the weekend, the events were covered by the newspapers across the United States. On October 28, "Black Monday", more investors facing margin calls decided to get out of the market, the slide continued with a record loss in the Dow for the day of 38.33 points, or 13%. The next day, "Black Tuesday", October 29, 1929, about 16 million shares traded as the panic selling reached its peak; some stocks had no buyers at any price that day. The Dow lost 12 percent; the volume of stocks traded. On October 29, William C. Durant joined with members of the Rockefeller family and other financial giants to buy large quantities of stocks to demonstrate to the public their confidence in the market, but their efforts failed to stop the large decline in prices; the massive volume of stocks traded that day made the ticker continue to run until about 7:45 p.m. The market had lost over $30 billion in the space of two days, including $14 billion on October 29 alone.
After a one-day recovery on October 30, when the Dow regained an additional 28.40 points, or 12 percent, to close at 2
Legislative Assembly of Ontario
The Legislative Assembly of Ontario is one of two components of the Legislature of Ontario, the other being the Lieutenant Governor of Ontario. The Legislative Assembly is the second largest Canadian provincial deliberative assembly by number of members after the National Assembly of Quebec; the Assembly meets at the Ontario Legislative Building at Queen's Park in the provincial capital of Toronto. As at the federal level in Canada, Ontario uses a Westminster-style parliamentary government, in which members are elected to the Legislative Assembly through general elections, from which the Premier of Ontario and Executive Council of Ontario are appointed based on majority support; the premier is Ontario's head of government, while the Lieutenant Governor, as representative of the Queen, acts as head of state. The largest party not forming the government is known as the Official Opposition, its leader being recognized as Leader of the Opposition by the Speaker; the Ontario Legislature is sometimes referred to as the "Ontario Provincial Parliament".
Members of the assembly refer to themselves as "Members of the Provincial Parliament" as opposed to "Members of the Legislative Assembly" as in many other provinces. Ontario is the only province to do so, in accordance with a resolution passed in the Assembly on April 7, 1938. However, the Legislative Assembly Act refers only to "members of the Assembly"; the current assembly was elected on June 2018, as part of the 42nd Parliament of Ontario. Owing to the location of the Legislative Building on the grounds of Queen's Park, the metonym "Queen's Park" is used to refer to both the Government of Ontario and the Legislative Assembly. In accordance with the traditions of the Westminster system, most laws originate with the cabinet, are passed by the legislature after stages of debate and decision-making. Ordinary Members of the Legislature may introduce play an integral role in scrutinizing bills in debate and committee and amending bills presented to the legislature by cabinet. Members are expected to be loyal to both their parliamentary party and to the interests of their constituents.
In the event of conflict, duty to the parliamentary party takes precedence. Party loyalty is enforced by the chief government whip. In the Ontario legislature this confrontation provides much of the material for Oral Questions and Members' Statements. Legislative scrutiny of the executive is at the heart of much of the work carried out by the Legislature's Standing Committees, which are made up of ordinary backbenchers. A Member's day will be divided among participating in the business of the House, attending caucus and committee meetings, speaking in various debates, or returning to his or her constituency to address the concerns and grievances of constituents. Depending on personal inclination and political circumstances, some Members concentrate most of their attention on House matters while others focus on constituency problems, taking on something of an ombudsman's role in the process, it is the task of the legislature to provide the personnel of the executive. As noted, under responsible government, ministers of the Crown are expected to be Members of the Assembly.
When a political party comes to power it will place its more experienced parliamentarians into the key cabinet positions, where their parliamentary experience may be the best preparation for the rough and tumble of political life in government. The Legislative Assembly of Ontario is the first and the only legislature in Canada to have a Coat of Arms separate from the provincial coat of arms. Green and gold are the principal colours in the shield of arms of the province; the Mace is the traditional symbol of the authority of the Speaker. Shown on the left is the current Mace. On the right is the original Mace from the time of the first parliament in 1792; the crossed Maces are joined by the shield of arms of Ontario. The crown on the wreath represents provincial loyalties; the griffin, an ancient symbol of justice and equity, holds a calumet, which symbolizes the meeting of spirit and discussion that Ontario's First Nations believe accompanies the use of the pipe. The deer represent the natural riches of the province.
The Loyalist coronets at their necks honour the original British settlers in Ontario who brought with them the British parliamentary form of government. The Royal Crowns, left 1992, right 1792, recognize the parliamentary bicentennial and represent Ontario's heritage as a constitutional monarchy, they were granted as a special honour by Her Majesty Queen Elizabeth II on the recommendation of the Governor General. In the base, the maple leaves are for Canada, the trilliums for Ontario and the roses for York, the provincial capital. Proceedings of the Legislative Assembly are broadcast to Ontario cable television subscribers by the Ontario Parliament Network. A late-night rebroadcast of Question Period is aired on the provincial public broadcaster TVOntario; the 1st Parliament of Ontario was in session from September 3, 1867, until February 25, 1871, just prior to the 1871 general election. This was the first session of the Legislature after Confederation succeeding the Legislative Assembly of the Province of Canada.
The 1867 general election produced a tie between the Conservative Party led by John Sandfield Macdonald and the Liberal Party led by Archibald McKellar. Macdonald led a coalition government with the support of moderate Liberals; the Legislative Assembly was established by the British North Am