1.
United States dollar
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The United States dollar is the official currency of the United States and its insular territories per the United States Constitution. It is divided into 100 smaller cent units, the circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars. The U. S. dollar was originally commodity money of silver as enacted by the Coinage Act of 1792 which determined the dollar to be 371 4/16 grain pure or 416 grain standard silver, the currency most used in international transactions, it is the worlds primary reserve currency. Several countries use it as their currency, and 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 the country mints its own coins, or also accepts U. S. coins that can be used as payment in U. S. dollars. After Nixon shock of 1971, USD became fiat currency, Article I, Section 8 of the U. S. Constitution provides that the Congress has the power To coin money, laws implementing this power are currently codified at 31 U. S. C. Section 5112 prescribes the forms in which the United States dollars should be issued and 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 also provides for the minting and issuance of other coins and these other coins are more fully described in Coins of the United States dollar. The Constitution provides that a regular Statement and Account of the Receipts and 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 currently 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 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 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. Both one-dollar coins and notes are produced today, although the form is significantly more common
2.
Watermark
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A watermark is an identifying image or pattern in paper that appears as various shades of lightness/darkness when viewed by transmitted light, caused by thickness or density variations in the paper. Watermarks have been used on stamps, currency, and other government documents to discourage counterfeiting. There are two ways of producing watermarks in paper, the dandy roll process, and the more complex cylinder mould process. Watermarks vary greatly in their visibility, while some are obvious on casual inspection, various aids have been developed, such as watermark fluid that wets the paper without damaging it. A watermark is very useful in the examination of paper because it can be used for dating, identifying sizes, mill trademarks and locations, the word is also used for digital practices that share similarities with physical watermarks. In one case, overprint on computer-printed output may be used to output from an unlicensed trial version of a program. In another instance, identifying codes can be encoded as a watermark for a music, video, picture. Watermarks were first introduced in Fabriano, Italy, in 1282, traditionally, a watermark was made by impressing a water-coated metal stamp or dandy roll onto the paper during manufacturing. The invention of the roll in 1826 by John Marshall revolutionised the watermark process. The dandy roll is a light roller covered by similar to window screen that is embossed with a pattern. Because the chain wires are located on the outside of the wires, they have a greater influence on the impression in the pulp. This embossing is transferred to the fibres, compressing and reducing their thickness in that area. Because the patterned portion of the page is thinner, it transmits light through. If these lines are distinct and parallel, and/or there is a watermark, if the lines appear as a mesh or are indiscernible, and/or there is no watermark, then it is called wove paper. This method is called line drawing watermarks, another type of watermark is called the cylinder mould watermark. A shaded watermark, first used in 1848, incorporates tonal depth, instead of using a wire covering for the dandy roll, the shaded watermark is created by areas of relief on the rolls own surface. Once dry, the paper may then be rolled again to produce a watermark of even thickness, in philately, the watermark is a key feature of a stamp, and often constitutes the difference between a common and a rare stamp. Collectors who encounter two otherwise identical stamps with different watermarks consider each stamp to be a separate identifiable issue, the classic stamp watermark is a small crown or other national symbol, appearing either once on each stamp or a continuous pattern
3.
EURion constellation
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The EURion constellation is a pattern of symbols incorporated into a number of banknote designs worldwide since about 1996. It is added to help imaging software detect the presence of a banknote in a digital image, such software can then block the user from reproducing banknotes to prevent counterfeiting using colour photocopiers. Research shows that the EURion constellation is used for colour photocopiers, the name EURion constellation was coined by Markus Kuhn, who uncovered the pattern in early 2002 while experimenting with a Xerox colour photocopier that refused to reproduce banknotes. The word is a combination of EUR, the euros ISO4217 designation, and Orion, the EURion constellation first described by Kuhn consists of a pattern of five small yellow, green or orange circles, which is repeated across areas of the banknote at different orientations. The mere presence of five of these circles on a page is sufficient for some colour photocopiers to refuse processing, the EURion constellation is most prominent, and was therefore first recognised, on the 200210 Euro banknote. Some banks integrate the constellation tightly with the design of the note. On 50 DM German banknotes, the EURion circles formed the innermost circles in a pattern of fine concentric circles. On the front of former Bank of England Elgar £20 notes, they appear as green heads of musical notes, on some U. S. bills, they appear as the digit zero in small, yellow numbers matching the value of the note. On Japanese Yen, these circles sometimes appear as flowers, technical details regarding the EURion constellation are kept secret by its inventors and users. A patent application suggests that the pattern and detection algorithm were designed at Omron Corporation and it is also not clear whether the feature has any official name. The term Omron anti-photocopying feature appeared in an August 2005 press release by the Reserve Bank of India, in 2007 it was picked up in an award announcement by a banknote collectors society. The following table lists the banknotes on which the EURion constellation has been found so far, countries where all recent banknotes use the constellation are in bold. Since 2003, image editors such as Adobe Photoshop CS or Paint Shop Pro 8 refuse to print banknotes, however, experiments by Steven J. Murdoch and others showed that this banknote detection code does not rely on the EURion pattern. It instead detects a digital watermark embedded in the images, developed by Digimarc, the rules for currency image use Nieves, J. Ruiz-Agundez, I. Recognizing Banknote Patterns for Protecting Economic TransactionsDatabase and Expert Systems Applications,2010 Workshop on, IEEE, 247--249
4.
Optically variable ink
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Optically variable ink is an anti-counterfeiting measure used on many major modern banknotes, as well as on other official documents. The ink displays two distinct colors depending on the angle the bill is viewed at, the United States fifty-dollar bill, for example, uses color shifting ink for the numeral 50 so that it displays copper at one angle and bright green in another. OVI is particularly useful as a measure as it is not widely available. One major manufacturer is a Swiss company called SICPA, additional suppliers include Sun Chemical and the Brazilian company Sellerink, located in São Paulo, Brazil. Color-shifting inks reflect various wavelengths in white light differently, depending on the angle of incidence to the surface, an unaided eye will observe this effect as a change of color while the viewing angle is changed. A color copier or scanner can copy a document only at one fixed angle relative to the document’s surface
5.
Ulysses S. Grant
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Ulysses S. Grant was the 18th President of the United States. As Commanding General, Grant worked closely with President Abraham Lincoln to lead the Union Army to victory over the Confederacy in the American Civil War and he implemented Congressional Reconstruction, often at odds with President Andrew Johnson. His presidency has often criticized for tolerating corruption and for the severe economic depression in his second term. Grant graduated in 1843 from the United States Military Academy at West Point, after the war he married Julia Boggs Dent in 1848, their marriage producing four children. Grant initially retired from the Army in 1854 and he struggled financially in civilian life. When the Civil War began in 1861, he rejoined the U. S. Army, in 1862, Grant took control of Kentucky and most of Tennessee, and led Union forces to victory in the Battle of Shiloh, earning a reputation as an aggressive commander. He incorporated displaced African American slaves into the Union war effort, in July 1863, after a series of coordinated battles, Grant defeated Confederate armies and seized Vicksburg, giving the Union control of the Mississippi River and dividing the Confederacy in two. After his victories in the Chattanooga Campaign, Lincoln promoted him to lieutenant general, Grant confronted Robert E. Lee in a series of bloody battles, trapping Lees army in their defense of Richmond. Grant coordinated a series of devastating campaigns in other theaters, as well, in April 1865, Lee surrendered to Grant at Appomattox, effectively ending the war. Historians have hailed Grants military genius, and his strategies are featured in history textbooks. After the Civil War, Grant led the armys supervision of Reconstruction in the former Confederate states and he also used the army to build the Republican Party in the South. After the disenfranchisement of some former Confederates, Republicans gained majorities, in his second term, the Republican coalitions in the South splintered and were defeated one by one as redeemers regained control using coercion and violence. In May 1875, Grant authorized his Secretary of Treasury Benjamin Bristow to shut down and his peace policy with the Indians initially reduced frontier violence, but is best known for the Great Sioux War of 1876. Grant responded to charges of corruption in executive offices more than any other 19th Century president and he appointed the first Civil Service Commission and signed legislation ending the corrupt moiety system. In foreign policy, Grant sought to trade and influence while remaining at peace with the world. His administration successfully resolved the Alabama claims by the Treaty of Washington with Great Britain, Grant avoided war with Spain over the Virginius Affair, but Congress rejected his attempted annexation of the Dominican Republic. His administration implemented a standard and sought to strengthen the dollar. Grant left office in 1877 and embarked on a two-year diplomatic world tour that captured the nations attention, in 1880, Grant was unsuccessful in obtaining the Republican presidential nomination for a third term
6.
United States Capitol
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The United States Capitol, often called the Capitol Building or Capitol Hill, is the home of the United States Congress, and the seat of the legislative branch of the U. S. federal government. It sits atop Capitol Hill at the end of the National Mall in Washington. Though not at the center of the Federal District, the Capitol forms the origin point for the Districts street-numbering system. The original building was completed in 1800 and was subsequently expanded, like the principal buildings of the executive and judicial branches, the Capitol is built in a distinctive neoclassical style and has a white exterior. Both its east and west elevations are referred to as fronts, though only the east front was intended for the reception of visitors. In 2014, scaffolding was erected around the dome for a project scheduled to be completed by early 2017. All exterior scaffolding was removed by the end of summer 2016, prior to establishing the nations capital in Washington, D. C. the United States Congress and its predecessors had met in Philadelphia, New York City, and a number of other locations. In September 1774, the First Continental Congress brought together delegates from the colonies in Philadelphia, followed by the Second Continental Congress, Congress requested that John Dickinson, the Governor of Pennsylvania, call up the militia to defend Congress from attacks by the protesters. In what became known as the Pennsylvania Mutiny of 1783, Dickinson sympathized with the protesters and refused to remove them from Philadelphia. As a result, Congress was forced to flee to Princeton, New Jersey, on June 21,1783, and met in Annapolis, Maryland, the United States Congress was established upon ratification of the United States Constitution and formally began on March 4,1789. New York City remained home to Congress until July 1790, when the Residence Act was passed to pave the way for a permanent capital. As part of the legislation, Philadelphia was chosen as a capital for ten years, until the nations capital in Washington. Pierre Charles LEnfant was given the task of creating the city plan for the new capital city, in reviewing LEnfants plan, Thomas Jefferson insisted the legislative building be called the Capitol rather than Congress House. The word Capitol comes from Latin and is associated with the Temple of Jupiter Optimus Maximus on Capitoline Hill, the connection between the two is not, however, crystal clear. In spring 1792, United States Secretary of State Thomas Jefferson proposed a competition to solicit designs for the Capitol and the Presidents House. The prize for the competition was $500 and a lot in the Federal City, the most promising of the submissions was by Stephen Hallet, a trained French architect. However, Hallets designs were overly fancy, with too much French influence, a late entry by amateur architect William Thornton was submitted on January 31,1793, to much praise for its Grandeur, Simplicity, and Beauty by Washington, along with praise from Thomas Jefferson. Thornton was inspired by the east front of the Louvre, as well as the Paris Pantheon for the portion of the design
7.
United States Note
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A United States Note, also known as a Legal Tender Note, is a type of paper money that was issued from 1862 to 1971 in the U. S. Having been current for more than 100 years, they were issued for longer than any form of U. S. paper money. They were known popularly as greenbacks, a name inherited from the earlier greenbacks, the Demand Notes, often termed Legal Tender Notes, they were named United States Notes by the First Legal Tender Act, which authorized them as a form of fiat currency. They were originally issued directly into circulation by the U. S. Treasury to pay expenses incurred by the Union during the American Civil War, during the next century, the legislation governing these notes was modified many times and numerous versions were issued by the Treasury. S. Treasury Seals and serial numbers in place of green ones, existing United States Notes remain valid currency in the United States, however, as no United States Notes have been issued since January 1971, they are increasingly rare in circulation. The Act of July 17,1861 authorized United States Secretary of the Treasury Salmon P. Chase to raise money via the issuance of $50,000,000 in Treasury Notes payable on demand. These Demand Notes were paid to creditors directly and used to meet the payroll of soldiers in the field. While issued within the framework of Treasury Note Debt, the Demand Notes were intended to circulate as currency and were of the same size as banknotes. During December 1861, economic conditions deteriorated and a suspension of specie payment caused the government to cease redeeming the Demand Notes as coins, the beginning of 1862 found the Unions expenses increasing, and the government was having trouble funding the escalating war. Demand Notes—which were used, among other things, to pay Union soldiers—were unredeemable, congressman and Buffalo banker Elbridge G. Spaulding prepared a bill, based on the Free Banking Law of New York, that eventually became the National Banking Act of 1863. This caused tremendous controversy in Congress, as hitherto the Constitution had been interpreted as not granting the government the power to issue a paper currency. Spaulding justified the action as a means of carrying into execution the powers granted in the Constitution to raise and support armies. Initially, the emission was limited to $150,000,000 total face value between the new Legal Tender Notes and the existing Demand Notes, the Act also intended for the new notes to be used to replace the Demand Notes as soon as practical. The Demand Notes had been issued in denominations of $5, $10, and $20, in addition, notes of entirely new design were introduced in denominations of $50, $100, $500 and $1000. The Demand Notes printed promise of payment On Demand was removed, Legal tender status guaranteed that creditors would have to accept the notes despite the fact that they were not backed by gold, bank deposits, or government reserves, and had no interest. The Act did provide that the notes be receivable by the government for short term deposits at 5% interest, the rationale for these terms was that the Union government would preserve its credit-worthiness by supporting the value of its bonds by paying their interest in gold. Lastly, by making the bonds available for purchase at par in United States Notes, the limitations of the legal tender status were quite controversial. This controversy would continue until the removal of the exceptions during 1933, the largest amount of greenbacks outstanding at any one time was calculated as $447,300,203.10
8.
Benjamin Franklin
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Benjamin Franklin was one of the Founding Fathers of the United States. Franklin was a polymath and a leading author, printer, political theorist, politician, freemason, postmaster, scientist, inventor, civic activist, statesman. As a scientist, he was a figure in the American Enlightenment. As an inventor, he is known for the rod, bifocals. He facilitated many civic organizations, including Philadelphias fire department and the University of Pennsylvania, Franklin earned the title of The First American for his early and indefatigable campaigning for colonial unity, initially as an author and spokesman in London for several colonies. As the first United States Ambassador to France, he exemplified the emerging American nation, in the words of historian Henry Steele Commager, In a Franklin could be merged the virtues of Puritanism without its defects, the illumination of the Enlightenment without its heat. To Walter Isaacson, this makes Franklin the most accomplished American of his age, Franklin became a successful newspaper editor and printer in Philadelphia, the leading city in the colonies, publishing the Pennsylvania Gazette at the age of 23. He became wealthy publishing this and Poor Richards Almanack, which he authored under the pseudonym Richard Saunders, after 1767, he was associated with the Pennsylvania Chronicle, a newspaper that was known for its revolutionary sentiments and criticisms of the British policies. He pioneered and was first president of The Academy and College of Philadelphia which opened in 1751 and he organized and was the first secretary of the American Philosophical Society and was elected president in 1769. Franklin became a hero in America as an agent for several colonies when he spearheaded an effort in London to have the Parliament of Great Britain repeal the unpopular Stamp Act. An accomplished diplomat, he was widely admired among the French as American minister to Paris and was a figure in the development of positive Franco-American relations. His efforts proved vital for the American Revolution in securing shipments of crucial munitions from France, during the Revolution, he became the first US Postmaster General. He was active in community affairs and colonial and state politics, from 1785 to 1788, he served as governor of Pennsylvania. He initially owned and dealt in slaves but, by the 1750s, he argued against slavery from an economic perspective, Franklins father, Josiah Franklin, was a tallow chandler, a soap-maker and a candle-maker. Josiah was born at Ecton, Northamptonshire, England on December 23,1657, the son of Thomas Franklin, a blacksmith-farmer, and Jane White. His mother, Abiah Folger, was born in Nantucket, Massachusetts, on August 15,1667, to Peter Folger, a miller and schoolteacher, and his wife, Mary Morrill, Josiah Franklin had seventeen children with his two wives. He married his first wife, Anne Child, in about 1677 in Ecton and emigrated with her to Boston in 1683, after her death, Josiah was married to Abiah Folger on July 9,1689 in the Old South Meeting House by Samuel Willard. Benjamin, their child, was Josiah Franklins fifteenth child and tenth
9.
Denomination (currency)
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Denomination is a proper description of a currency amount, usually for coins or banknotes. Denominations may also be used other means of payment like gift cards. For example, five euros is the denomination of a five euro note, in a currency, there is usually a main unit, and a subunit that is a fraction of the main unit. In some countries, there are levels of subunits. In the former Ottoman Empire,1 lira =100 kuruş =4000 para =12000 akçe, today, only a few places have more than one subunit, notably Chinese speaking regions, the mainland China, the Hong Kong, and Republic of Chinas. In addition, the Jordanian dinar is divided into 10 dirham,100 qirsh/piastres, many countries where Western European languages are spoken currently have their main units divided into 100 subunits. Some currencies that previously had no longer do, because inflation has rendered the subunit useless. A prominent example is the Japanese yen, which was divided into 100 sen or 1000 rin. Both subunits were demonetized at the end of 1953, occasionally, a super unit is used as a multiple of the main unit. Examples include Korean won =5 yang in 1893, Iranian toman 10 rials, in the Ottoman Empire, lira and kuruş were super units at some point before becoming the main unit. A decimal currency is a currency where the ratio between the unit and the subunit is an integral power of 10. Non-decimal currencies are now rare but had advantages in daily life transactions. For example,1 South German Gulden =60 Kreuzer,60 can be divided into 2,3,4,5,6,10,12,15,20 or 30 parts that are still integers, making pricing easy. This advantage and the lack of widespread accurate weighing apparatus coupled with tradition were the reasons why non-decimal currencies were used, in theory, two countries currently use non-decimal currency, Mauritania and Madagascar. In practice, however, the value of the unit in each case is so low that the sub-unit is not of any practical use and is rarely seen in circulation. The last major countries to use non-decimal currencies in practice were the United Kingdom, Ireland, Malta, the average number of coins needed to make change. It is common to name a unit with a unit of weight, such as pound, lira, in most cases, these currencies were originally defined as that amount of some precious metal. Another choice of name is some form of derivative of the political entity, the Afghan afghani and European euro fall into this category
10.
President of the United States
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The President of the United States is the head of state and head of government of the United States. The president directs the executive branch of the government and is the commander-in-chief of the United States Armed Forces. The president is considered to be one of the worlds most powerful political figures, the role includes being the commander-in-chief of the worlds most expensive military with the second largest nuclear arsenal and leading the nation with the largest economy by nominal GDP. The office of President holds significant hard and soft power both in the United States and abroad, Constitution vests the executive power of the United States in the president. The president is empowered to grant federal pardons and reprieves. The president is responsible for dictating the legislative agenda of the party to which the president is a member. The president also directs the foreign and domestic policy of the United States, since the office of President was established in 1789, its power has grown substantially, as has the power of the federal government as a whole. However, nine vice presidents have assumed the presidency without having elected to the office. The Twenty-second Amendment prohibits anyone from being elected president for a third term, in all,44 individuals have served 45 presidencies spanning 57 full four-year terms. On January 20,2017, Donald Trump was sworn in as the 45th, in 1776, the Thirteen Colonies, acting through the Second Continental Congress, declared political independence from Great Britain during the American Revolution. The new states, though independent of each other as nation states, desiring to avoid anything that remotely resembled a monarchy, Congress negotiated the Articles of Confederation to establish a weak alliance between the states. Out from under any monarchy, the states assigned some formerly royal prerogatives to Congress, only after all the states agreed to a resolution settling competing western land claims did the Articles take effect on March 1,1781, when Maryland became the final state to ratify them. In 1783, the Treaty of Paris secured independence for each of the former colonies, with peace at hand, the states each turned toward their own internal affairs. Prospects for the convention appeared bleak until James Madison and Edmund Randolph succeeded in securing George Washingtons attendance to Philadelphia as a delegate for Virginia. It was through the negotiations at Philadelphia that the presidency framed in the U. S. The first power the Constitution confers upon the president is the veto, the Presentment Clause requires any bill passed by Congress to be presented to the president before it can become law. Once the legislation has been presented, the president has three options, Sign the legislation, the bill becomes law. Veto the legislation and return it to Congress, expressing any objections, in this instance, the president neither signs nor vetoes the legislation
11.
Obverse and reverse
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In this usage, obverse means the front face of the object and reverse means the back face. The obverse of a coin is commonly called heads, because it depicts the head of a prominent person. In fields of scholarship outside numismatics, the front is more commonly used than obverse. For prints and drawings with material on both sides the one judged as more significant will be the recto, a convention now exists typically to display the obverse to the left and the reverse to the right in photographs and museum displays, but this is not invariably observed. Following this principle, in the most famous of ancient Greek coins, the tetradrachm of Athens, the obverse is the head of Athena, similar versions of these two images, both symbols of the state, were used on the Athenian coins for more than two centuries. The opposite side may have varied from time to time and this change happened in the coinage of Alexander the Great, which continued to be minted long after his death. The various Hellenistic rulers who were his successors followed his tradition and this script alone style then was used on nearly all Islamic coinage until the modern period. The type of Justinian II was revived after the end of Iconoclasm, without images, therefore, it is not always easy to tell which side will be regarded as the obverse without some knowledge. After 695, Islamic coins avoided all images of persons and usually, the side expressing the Six Kalimas is usually defined as the obverse. The form of currency follows its function, which is to serve as an accepted medium of exchange of value. Traditionally, most states have been monarchies where the person of the monarch, if not provided for on the obverse, the reverse side usually contains information relating to a coins role as medium of exchange. Additional space typically reflects the countrys culture or government, or evokes some aspect of the states territory. Regarding the euro, some regarding the obverse and reverse of the euro coins exists. This rule does not apply to the coins as they dont have a common side. A number of the used for obverse national sides of euro coins were taken from the reverse of the old pre-euro coins of some individual countries. Several countries continue to use portraits of the monarch and the Republic of Ireland continues to use the State Arms. The Chrysanthemum Crest was no longer used after the war, and so, the side on which the date continues to be regarded as the reverse. Following ancient tradition, the obverse of coins of the United Kingdom almost always feature the head of the monarch
12.
Federal Reserve Note
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Federal Reserve Notes, also United States banknotes or U. S. banknotes, are the banknotes currently used in the United States of America. Denominated in United States dollars, Federal Reserve Notes are printed by the United States Bureau of Engraving and Printing on paper made by Crane & Co. of Dalton, Federal Reserve Notes are the only type of U. S. banknote currently produced. The notes are then put into circulation by the Federal Reserve Banks, at which point they become liabilities of the Federal Reserve Banks, Federal Reserve Notes are legal tender, with the words this note is legal tender for all debts, public and private printed on each note. They have replaced United States Notes, which were issued by the Treasury Department. Federal Reserve Notes are backed by the assets of the Federal Reserve Banks and these assets are generally Treasury securities which have been purchased by the Federal Reserve through its Federal Open Market Committee in a process called debt monetizing. This monetized debt can increase the supply, either with the issuance of new Federal Reserve Notes or with the creation of debt money. This increase in the base leads to a larger increase in the money supply through fractional-reserve banking as deposits are lent. Prior to centralized banking, each bank issued its own notes. The first institution with responsibilities of a bank in the U. S. was the First Bank of the United States. Its charter was not renewed in 1811, in 1816, the Second Bank of the United States was chartered, its charter was not renewed in 1836, after President Andrew Jackson campaigned heavily for its disestablishment. From 1837 to 1862, in the Free Banking Era there was no central bank. From 1862 to 1913, a system of banks was instituted by the 1863 National Banking Act. The first printed notes were Series 1914, in 1928, cost-cutting measures were taken to reduce the note to the size it is today. The authority of the Federal Reserve Banks to issue notes comes from the Federal Reserve Act of 1913, legally, they are liabilities of the Federal Reserve Banks and obligations of the United States government. Although not issued by the Treasury Department, Federal Reserve Notes carry the signature of the Treasurer of the United States, at the time of the Federal Reserves creation, the law provided for notes to be redeemed to the Treasury in gold or lawful money. The Emergency Banking Act of 1933 removed the gold obligation and authorized the Treasury to satisfy these redemption demands with current notes of equal face value, under the Bretton Woods system, although citizens could not possess gold, the federal government continued to maintain a stable international gold price. This system ended with the Nixon Shock of 1971, present-day Federal Reserve Notes are not backed by convertibility to any specific commodity, but only by the collateral assets that Federal Reserve Banks post in order to obtain them. Series 1914 FRN were the first of two large-size issues, denominations were $5, $10, $20, $50, and $100 printed first with a red seal and then continued with a blue seal
13.
Interest bearing note
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Interest bearing notes refers to a grouping of Civil War era paper money-related emissions of the US Treasury.3 percent—though both of these latter issues lacked legal tender status. Reference texts used by currency collectors will sometimes include compound interest treasury notes. Images are courtesy of the National Numismatic Collection at the National Museum of American History, Friedberg, Arthur L. Friedberg, Ira S. Paper Money of the United States, A Complete Illustrated Guide With Valuations, the Engraver’s Line – An Encyclopedia of Paper Money & Postage Stamp Art. U. S. Essay, Proof and Specimen Notes
14.
Treasury Note (19th century)
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A Treasury Note is a type of short term debt instrument issued by the United States prior to the creation of the Federal Reserve System in 1913. While the Treasury Notes, as issued, were legal tender nor representative money. However the motivation behind their issuance was always funding federal expenditures rather than the provision of a circulating medium. Often they were receivable at face value by the government in payment of taxes and for purchases of publicly owned land, and thus might to some extent be regarded as paper money. On many issues the interest rate was chosen to make interest calculations particularly easy, paying either 1, 1½, today the Treasurys short term debt needs are fulfilled by Treasury bills. The early finances of the government of the United States were precarious. To help finance the American Revolution the Continental Congress had issued Continental Dollars between 1775 and 1779, as part of the Compromise of 1790, the Continental Dollars were redeemed at a loss of over 99% vs. As a result, Americas early creditors had reason to be wary of a paper currency, the Founding Fathers were divided over whether the United States needed a central bank similar to the Bank of England to issue currency and facilitate the governments use of credit. Having thus set the precedent, the Treasury would go on to issue such notes up through the Civil War. Several issues of Treasury Notes were made during the War of 1812 from 1812 to 1815, most of these notes paid 5 2⁄5% interest, matured in one year, and were receivable in payment for public dues. While $37 million were issued, no more than $17 million were outstanding at any one time, only about $6 million of the loan was placed in the form of 6% interest bonds, and thus $5 million of Notes were issued. The Notes were made receivable for all public dues owed the federal government, a further $5 million of similar Notes were authorized on February 25,1813 to supplement additional loans which had not been fully subscribed. Only Notes of $100 denomination and greater were issued under these first two acts, and they sold at close to par. The next two acts, those of March 4,1814 and Dec 26,1814, called for Note issues both to raise revenue as well as to substitute for unsubscribed loans. A total of $18,318,400 were emitted under these acts which included Notes of $20, during 1814 federal finances deteriorated as the war dragged on, and banks outside New England suspended specie payment on August 31,1814. The value of the Treasury Notes fell below that of specie and these developments led to changes in the final Treasury Note act of the era signed on February 24,1815. These last notes were divided into large and small denominations, the large notes paid interest as before, at 5 2⁄5% per annum, but could also be used to purchase 6 percent interest bonds at par as a way of supporting their value. The Act had been drafted during the financial disarray late in the War of 1812, the issued denominations were as low as $3, their size was typical of banknotes and, unlike the previously issued Notes, they were payable to bearer rather than to order
15.
Bald eagle
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The bald eagle is a bird of prey found in North America. A sea eagle, it has two subspecies and forms a species pair with the white-tailed eagle. Its range includes most of Canada and Alaska, all of the contiguous United States and it is found near large bodies of open water with an abundant food supply and old-growth trees for nesting. The bald eagle is a feeder which subsists mainly on fish. It builds the largest nest of any North American bird and the largest tree nests ever recorded for any species, up to 4 m deep,2.5 m wide. Sexual maturity is attained at the age of four to five years, Bald eagles are not actually bald, the name derives from an older meaning of the word, white headed. The adult is brown with a white head and tail. The sexes are identical in plumage, but females are about 25 percent larger than males, the beak is large and hooked. The plumage of the immature is brown, the bald eagle is both the national bird and national animal of the United States of America. The bald eagle appears on its seal, in the late 20th century it was on the brink of extirpation in the contiguous United States. Populations have since recovered and the species was removed from the U. S. governments list of endangered species on July 12,1995 and it was removed from the List of Endangered and Threatened Wildlife in the Lower 48 States on June 28,2007. The plumage of an bald eagle is evenly dark brown with a white head. The tail is long and slightly wedge-shaped. Males and females are identical in coloration, but sexual dimorphism is evident in the species. The beak, feet and irises are bright yellow, the legs are feather-free, and the toes are short and powerful with large talons. The highly developed talon of the toe is used to pierce the vital areas of prey while it is held immobile by the front toes. The beak is large and hooked, with a yellow cere, the adult bald eagle is unmistakable in its native range. The closely related African fish eagle also has a body, white head and tail
16.
Vignetting
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In photography and optics, vignetting is a reduction of an images brightness or saturation at the periphery compared to the image center. The word vignette, from the root as vine, originally referred to a decorative border in a book. Later, the word came to be used for a portrait which is clear in the center. A similar effect occurs when photographing projected images or movies off a projection screen, vignetting is often an unintended and undesired effect caused by camera settings or lens limitations. However, it is deliberately introduced for creative effect, such as to draw attention to the center of the frame. A photographer may deliberately choose a lens which is known to produce vignetting to obtain the effect, when using superzoom lenses, vignetting may occur all along the zoom range, depending on the aperture and the focal length. However, it may not always be visible, except at the widest end, in these cases, vignetting may cause an exposure value difference of up to 0. 75EV. There are several causes of vignetting and this has the effect of changing the entrance pupil shape as a function of angle. Darkening can be gradual or abrupt – the smaller the aperture, when some points on an image receives no light at all due to mechanical vignetting, then this results in an restriction of the field of view – parts of the image are then completely black. This type of vignetting is caused by the dimensions of a multiple element lens. Rear elements are shaded by elements in front of them, which reduces the lens opening for off-axis incident light. The result is a decrease in light intensity towards the image periphery. Optical vignetting is sensitive to the aperture and can often be cured by a reduction in aperture of 2–3 stops. Unlike the previous types, natural vignetting is not due to the blocking of light rays, the falloff is approximated by the cos4 or cosine fourth law of illumination falloff. Here, the light falloff is proportional to the power of the cosine of the angle at which the light impinges on the film or sensor array. Wideangle rangefinder designs and the designs used in compact cameras are particularly prone to natural vignetting. Telephoto lenses, retrofocus wideangle lenses used on SLR cameras, a gradual grey filter or postprocessing techniques may be used to compensate for natural vignetting, as it cannot be cured by stopping down the lens. Some modern lenses are designed so that the light strikes the image parallel or nearly so
17.
Allegorical
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As a literary device, an allegory is a metaphor whose vehicle may be a character, place or event, representing real-world issues and occurrences. Many ancient religions are based on astrological allegories, that is, allegories of the movement of the sun, in classical literature two of the best-known allegories are the Cave in Platos Republic and the story of the stomach and its members in the speech of Menenius Agrippa. One of the examples of allegory, Platos Allegory of the Cave. In this allegory, Plato describes a group of people who have lived chained in an all of their lives. The people watch shadows projected on the wall by things passing in front of a fire behind them and begin to ascribe forms to these shadows, using language to identify their world. He tries to tell the people in the cave of his discovery, also allegorical is Ezekiel 16 and 17, wherein the capture of that same vine by the mighty Eagle represents Israels exile to Rome. Allegory has an ability to freeze the temporality of a story, Mediaeval thinking accepted allegory as having a reality underlying any rhetorical or fictional uses. The allegory was as true as the facts of surface appearances, if, then, the Greeks or others say that they were not committed to the care of Peter and his successors, they necessarily confess that they are not of the sheep of Christ. This text also demonstrates the frequent use of allegory in religious texts during the Mediaeval Period, following the tradition, since meaningful stories are nearly always applicable to larger issues, allegories may be read into many stories which the author may not have recognised. This is allegoresis, or the act of reading a story as an allegory. S, lewis and A Kingdom Far and Clear, The Complete Swan Lake Trilogy by Mark Helprin. The story of the apple falling onto Isaac Newtons head is another famous allegory and it simplified the idea of gravity by depicting a simple way it was supposedly discovered. It also made the scientific revelation well known by condensing the theory into a short tale. According to Henry Littlefields 1964 article, L. Yet, George MacDonald emphasised in 1893 that, A fairy tale is not an allegory, I much prefer history – true or feigned– with its varied applicability to the thought and experience of readers. I think that many confuse applicability with allegory, but the one resides in the freedom of the reader, and this further reinforces the idea of forced allegoresis, as allegory is often a matter of interpretation and only sometimes of original artistic intention. Like allegorical stories, allegorical poetry has two meanings – a literal meaning and a symbolic meaning, some unique specimens of allegory can be found in the following works, Edmund Spenser – The Faerie Queene, The several knights in the poem actually stand for several virtues. Nathaniel Hawthorne – Young Goodman Brown, The Devils Staff symbolises defiance of God, the characters names, such as Goodman and Faith, ironically serve as paradox in the conclusion of the story. Nathaniel Hawthorne – The Scarlet Letter, The scarlet letter symbolises many things, the characters, while developed with interiority, are allegorical in that they represent ways of seeing the world. George Orwell – Animal Farm, The pigs stand for political figures of the Russian Revolution, lászló Krasznahorkai - The Melancholy of Resistance and the film Werckmeister Harmonies, It uses a circus to describe an occupying dysfunctional government
18.
Compound interest treasury note
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Compound interest treasury notes were emissions of the United States Treasury Department authorized in 1863 and 1864 with aspects of both paper money and debt. They were issued in denominations of $10, $20, $50, while they were legal tender at face value, they were redeemable after three years with six percent annual interest compounded semi-annually. Thus, in theory, the notes did not contribute to monetary inflation as did the greenbacks, at the time of their issue, investors were accustomed to receiving interest via semi-annual coupons. Each note presents a table on the reverse containing details of the interest calculation
19.
Henry Clay
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Henry Clay, Sr. was an American lawyer and planter, statesman, and skilled orator who represented Kentucky in both the United States Senate and House of Representatives. He served three terms as Speaker of the House of Representatives and served as Secretary of State under President John Quincy Adams from 1825 to 1829. Clay ran for the presidency in 1824,1832 and 1844, however, he was unsuccessful in all of his attempts to reach his nations highest office. Despite his presidential losses, Clay remained a dominant figure in the Whig Party, Clay was a dominant figure in both the First and Second Party systems. After serving two stints in the Senate, Clay won election to the House of Representatives in 1810 and was elected Speaker of the House in 1811. Clay would remain a prominent public figure until his death 41 years later in 1852, a leading war hawk, Speaker Clay favored war with Britain and played a significant role in leading the nation into the War of 1812. In 1814, Clays tenure as Speaker was interrupted when Clay traveled to Europe, Clay ran for president in 1824 and lost, finishing fourth in a four-man contest. No candidate received a majority, and so the election was decided in the House of Representatives. Clay maneuvered House voting in favor of John Quincy Adams, who appointed him as Secretary of State. Opposing candidate Andrew Jackson denounced the actions of Clay and Adams as part of a corrupt bargain, Clay returned to the Senate in 1831. He continued to advocate his American System, and become a leader of the opposition to President Andrew Jackson, President Jackson opposed federally-subsidized internal improvements and a national bank as a threat to states rights, and the president used his veto power to defeat many of Clays proposals. In 1832, Clay ran for president as a candidate of the National Republican Party, following the election, the National Republicans united with other opponents of Jackson to form the Whig Party, which remained one of the two major American political parties until after Clays death. In 1844, Clay won the Whig Partys presidential nomination, Clays opposition to the annexation of Texas, partly over fears that such an annexation would inflame the slavery issue, hurt his campaign, and Democrat James K. Polk won the election. Clay later opposed the Mexican–American War, which resulted in part from the Texas annexation, Clay returned to the Senate for a final term, where he helped broker a compromise over the status of slavery in the Mexican Cession. Known as The Great Compromiser, Clay brokered important agreements during the Nullification Crisis, as part of the Great Triumvirate or Immortal Trio, along with his colleagues Daniel Webster and John C. Calhoun, he was instrumental in formulating the Missouri Compromise of 1820, the Compromise Tariff of 1833, and he was viewed as the primary representative of Western interests in this group, and was given the names Harry of the West and The Western Star. As a plantation owner, Clay held slaves during his lifetime, Henry Clay was born on April 12,1777, at the Clay homestead in Hanover County, Virginia, in a story-and-a-half frame house. It was a home for a common Virginia planter of that time
20.
Laurus nobilis
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Laurus nobilis is an aromatic evergreen tree or large shrub with green, glabrous leaves, in the flowering plant family Lauraceae. It is native to the Mediterranean region and is used as bay leaf for seasoning in cooking and its common names include bay laurel, sweet bay, bay, true laurel, Grecian laurel, laurel tree or simply laurel. Laurus nobilis figures prominently in classical Greek, Roman, and Biblical culture, the laurel is an evergreen shrub or small tree, variable in size and sometimes reaching 7–18 metres tall. The genus Laurus includes four accepted species, whose diagnostic key characters often overlap, the bay laurel is dioecious, with male and female flowers on separate plants. Each flower is pale yellow-green, about 1 cm diameter, the leaves are glabrous, 6–12 cm long and 2–4 cm broad, with an entire margin. On some leaves the margin undulates, the fruit is a small, shiny black berry-like drupe about 1 cm long that contains one seed. A recent study found considerable genetic diversity within L. nobilis, Laurus nobilis is a widespread relic of the laurel forests that originally covered much of the Mediterranean Basin when the climate of the region was more humid. With the drying of the Mediterranean during the Pliocene era, the forests gradually retreated. The most abundant component found in essential oil is 1, 8-cineole. Both essential and fatty oils are present in the fruit, the fruit is pressed and water-extracted to obtain these products. The fruit contains up to 30% fatty oils and about 1% essential oils, the plant is the source of several popular herbs and one spice used in a wide variety of recipes, particularly among Mediterranean cuisines. Most commonly, the leaves are added whole to Italian pasta sauces. They are typically removed from dishes before serving, unless used as a simple garnish, whole bay leaves have a long shelf life of about one year, under normal temperature and humidity. Whole bay leaves are used almost exclusively as flavor agents during the preparation stage. Ground bay leaves, however, can be ingested safely and are used in soups and stocks. Dried laurel berries and pressed leaf oil can both be used as robust spices, and the wood can be burnt for strong smoke flavoring, aqueous extracts of bay laurel can also be used as astringents and even as a reasonable salve for open wounds. In massage therapy, the oil of bay laurel is reputed to alleviate arthritis and rheumatism, while in aromatherapy, it is used to treat earaches. A traditional folk remedy for rashes caused by poison ivy, poison oak, the chemical compound lauroside B isolated from Laurus nobilis is an inhibitor of human melanoma cell proliferation at high concentrations in-vitro
21.
National gold bank note
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National gold bank notes, issued by nine national gold banks in California in the 1870s and 1880s, were national bank notes redeemable in gold. Printed on a paper, six NGBN denominations circulated, $5, $10, $20, $50, $100. A $1,000 NGBN was designed and printed, but never issued, during the issuing period of national gold banks, the U. S. Treasury issued 200,558 notes totaling $3,465,240. Today, national bank notes are very rare in the higher denominations with condition generally falling in the good to fine range. Approximately 630 NGBNs are known to exist, and roughly 20 grade above very fine, the national gold bank notes were authorized under the provisions of the Currency Act of July 12,1870. The series was a result of the California Gold Rush where gold coins were preferered in commerce, ten national gold banks were charted, nine of them in California and one in Boston, Massachusetts. The Kiddler Bank was the bank to have $1,000 notes among others prepared however. Friedberg, Arthur L. Friedberg, Ira S, Paper Money of the United States, A Complete Illustrated Guide With Valuations. Huntoon, Peter W. United States Large Size National Bank Notes, society of Paper Money Collectors, Inc. Annual Report of the Comptroller of the Currency, office of the Comptroller of the Currency. About Paper Money - Large-size paper money - Early federal issues Coin World Pictures of National Gold Bank Notes The Federal Reserve Bank of San Francisco
22.
George Washington
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George Washington was an American politician and soldier who served as the first President of the United States from 1789 to 1797 and was one of the Founding Fathers of the United States. He served as Commander-in-Chief of the Continental Army during the American Revolutionary War and he is popularly considered the driving force behind the nations establishment and came to be known as the father of the country, both during his lifetime and to this day. Washington was widely admired for his leadership qualities and was unanimously elected president by the Electoral College in the first two national elections. Washingtons incumbency established many precedents still in use today, such as the system, the inaugural address. His retirement from office two terms established a tradition that lasted until 1940 when Franklin Delano Roosevelt won an unprecedented third term. The 22nd Amendment now limits the president to two elected terms and he was born into the provincial gentry of Colonial Virginia to a family of wealthy planters who owned tobacco plantations and slaves, which he inherited. In his youth, he became an officer in the colonial militia during the first stages of the French. In 1775, the Second Continental Congress commissioned him as commander-in-chief of the Continental Army in the American Revolution, in that command, Washington forced the British out of Boston in 1776 but was defeated and nearly captured later that year when he lost New York City. After crossing the Delaware River in the middle of winter, he defeated the British in two battles, retook New Jersey, and restored momentum to the Patriot cause and his strategy enabled Continental forces to capture two major British armies at Saratoga in 1777 and Yorktown in 1781. In battle, however, Washington was repeatedly outmaneuvered by British generals with larger armies, after victory had been finalized in 1783, Washington resigned as commander-in-chief rather than seize power, proving his opposition to dictatorship and his commitment to American republicanism. Washington presided over the Constitutional Convention in 1787, which devised a new form of government for the United States. Following his election as president in 1789, he worked to unify rival factions in the fledgling nation and he supported Alexander Hamiltons programs to satisfy all debts, federal and state, established a permanent seat of government, implemented an effective tax system, and created a national bank. In avoiding war with Great Britain, he guaranteed a decade of peace and profitable trade by securing the Jay Treaty in 1795 and he remained non-partisan, never joining the Federalist Party, although he largely supported its policies. Washingtons Farewell Address was a primer on civic virtue, warning against partisanship, sectionalism. He retired from the presidency in 1797, returning to his home, upon his death, Washington was eulogized as first in war, first in peace, and first in the hearts of his countrymen by Representative Henry Lee III of Virginia. He was revered in life and in death, scholarly and public polling consistently ranks him among the top three presidents in American history and he has been depicted and remembered in monuments, public works, currency, and other dedications to the present day. He was born on February 11,1731, according to the Julian calendar, the Gregorian calendar was adopted within the British Empire in 1752, and it renders a birth date of February 22,1732. Washington was of primarily English gentry descent, especially from Sulgrave and his great-grandfather John Washington emigrated to Virginia in 1656 and began accumulating land and slaves, as did his son Lawrence and his grandson, Georges father Augustine
23.
Delaware River
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The Delaware River is a major river on the Atlantic coast of the United States. Its watershed drains an area of 14,119 square miles in five U. S. states—New York, New Jersey, Pennsylvania, Maryland, not including Delaware Bay, the rivers length including its two branches is 388 miles. The Delaware River is one of nineteen Great Waters recognized by the Americas Great Waters Coalition, the Delaware River rises in two main branches that descend from the western flank of the Catskill Mountains in New York. The West Branch begins near Mount Jefferson in the Town of Jefferson in Schoharie County, the rivers East Branch begins at Grand Gorge near Roxbury Delaware County. These two branches flow west and merge near Hancock in Delaware County and the waters flow as the Delaware River south. The river meets tide-water at the junction of Morrisville, Pennsylvania and Trenton, the rivers navigable, tidal section served as a conduit for shipping and transportation that aided the development of the industrial cities of Trenton, Camden, and Philadelphia. The mean freshwater discharge of the Delaware River into the estuary of Delaware Bay is 11,550 cubic feet per second, in 1609, the river was first visited by a Dutch East India Company expedition led by Henry Hudson. Hudson, an English navigator, was hired to find a route to Cathay. Early Dutch and Swedish settlements were established along the section of river. Both colonial powers called the river the South River, compared to the Hudson River, lord de la Warr waged a punitive campaign to subdue the Powhatan after they had killed the colonys council president, John Ratcliffe, and attacked the colonys fledgling settlements. Lord de la Warr arrived with 150 soldiers in time to prevent colonys original settlers at Jamestown from giving up, the name of barony is pronounced as in the current spelling form Delaware and is thought to derive from French de la Guerre. It has often reported that the river and bay received the name Delaware after English forces under Richard Nicolls expelled the Dutch. However, the river and bay were known by the name Delaware as early as 1641, the state of Delaware was originally part of the William Penns Pennsylvania colony. In 1682, the Duke of York granted Penns request for access to the sea and leased him the territory along the western shore of Delaware Bay which became known as the Lower Counties on the Delaware. The Delaware Rivers watershed drains an area of 14,119 square miles and encompasses 42 counties and 838 municipalities in five U. S. states—New York, New Jersey, Pennsylvania, Maryland, and Delaware. This total area constitutes approximately 0. 4% of the mass in the United States. In 2001, the watershed was 18% agricultural land, 14% developed land, there are 216 tributary streams and creeks—an estimated 14,057 miles of streams and creeks—in the watershed. The waters of the Delaware Rivers basin are used to fishing, transportation, power, cooling, recreation
24.
Valley Forge
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Valley Forge was the military camp 18 miles northwest of Philadelphia where the American Continental Army spent the winter of 1777–78 during the American Revolutionary War. Starvation, disease, malnutrition, and exposure killed more than 2,500 American soldiers by the end of February 1778, General George Washington sought quarters for his men with winter almost setting in, and with greatly diminishing prospects for campaigning. Washington and his troops had fought in early December what was the last major engagement of 1777 at the Battle of White Marsh and he devised to pull his troops from their present encampment in the White Marsh area and move to a more secure location for the coming winter. Several locations were considered for the winter quarters, but Washington selected Valley Forge. Valley Forge was named for a forge on Valley Creek in Whitemarsh. It was not the best place to set up camp for the Continental Army. This location also left the vulnerable under-supplied army in striking distance of the British, the area was close enough to the British to keep their raiding and foraging parties out of the interior of Pennsylvania, yet far enough away to halt the threat of British surprise attacks. The densely forested plateau of Mount Joy and the adjoining two-mile-long plateau of Mount Misery made the area easily defensible and it also provided abundant forests of timber that were used to construct thousands of log huts. Seventy-eight of the huts in the camp housed the soldiers, on December 19,1777, Washingtons poorly fed, ill-equipped army staggered into Valley Forge, weary from long marches. Winds blew as the 12,000 Continentals prepared for winters fury, only about one in four of them had shoes, and many of their feet had left bloody footprints from the marching. Grounds were selected for brigade encampments, and defense lines were planned, the first properly constructed hut appeared in three days. One hut required 80 logs, and timber had to be collected from miles away and it went up in one week with the use of only one axe. These huts provided sufficient protection from the cold and wet conditions of a typical Pennsylvania winter. By the beginning of February, construction was completed on 2,000 huts and they provided shelter, but did little to offset the critical shortages that continually plagued the army. Washington ordered that two windows should be cut into each hut during the springtime, as the climate grew considerably warmer, mud was also chipped between the logs to improve ventilation. The soldiers received inadequate supplies of meat and bread, some getting their only nourishment from firecake, occasionally, there would be pepper pot soup, a black pepper-flavored tripe broth. So severe were conditions at times that Washington despaired that unless some great, starve, dissolve, or disperse, in order to obtain subsistence in the best manner they can. Snow was limited and small in amounts, the layer of snow was often too thin to be collected and melted into drinking water
25.
Silver certificate (United States)
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Silver certificates are a type of representative money issued between 1878 and 1964 in the United States as part of its circulation of paper currency. They were produced in response to silver agitation by citizens who were angered by the Fourth Coinage Act, the certificates were initially redeemable for their face value of silver dollar coins and later in raw silver bullion. Since 1968 they have been only in Federal Reserve Notes and are thus obsolete. Large-size silver certificates were issued initially in denominations from $10 to $1,000 and in 1886 the $1, $2, in 1928, all United States bank notes were re-designed and the size reduced. The small-size silver certificate was issued in denominations of $1, $5. The complete type set below is part of the National Numismatic Collection at the Smithsonians National Museum of American History, the Coinage Act of 1873 intentionally omitted language authorizing the coinage of “standard” silver dollars and ended the bimetallic standard that had been created by Alexander Hamilton. By 1875 business interests invested in silver wanted the bimetallic standard restored, people began to refer to the passage of the Act as the Crime of 73. Further public agitation for silver use was driven by fear that there was not enough money in the community. Members of Congress claimed ignorance that the 1873 law would lead to the demonetization of silver, some blamed the passage of the Act on a number of external factors including a conspiracy involving foreign investors and government conspirators. In response, the Bland–Allison Act, as it came to be known, was passed by Congress on 28 February 1878, the first silver certificates were issued in denominations of $10 through $1,000. Reception by financial institutions was cautious, while more convenient and less bulky than dollar coins, the silver certificate was not accepted for all transactions. Congress used the National Banking Act of 12 July 1882 to clarify the legal status of silver certificates by clearly authorizing them to be included in the lawful reserves of national banks. A general appropriations act of 4 August 1886 authorized the issue of $1, $2, the introduction of low-denomination currency greatly increased circulation. Over the 12-year lifespan of the Bland–Allison Act, the United States government would receive a seigniorage amounting to roughly $68 million, Treasury Secretary Franklin MacVeagh appointed a committee to investigate possible advantages to issuing smaller sized United States banknotes. Due in part to the outbreak of World War I and the end of his appointed term, any recommendations may have stalled. On 20 August 1925, Treasury Secretary Andrew W. Mellon appointed a committee and in May 1927 accepted their recommendations for the size reduction. On 10 July 1929 the new currency was issued. This required that the Treasury maintain stocks of dollars to back
26.
Edward Everett
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Edward Everett was an American politician, pastor, educator, diplomat, and orator from Massachusetts. Everett, a Whig, served as U. S. Representative, U. S. Senator, the 15th Governor of Massachusetts, Minister to Great Britain and he also taught at Harvard University and served as its president. Everett was one of the great American orators of the antebellum, the son of a pastor, Everett was educated at Harvard, and briefly ministered at Bostons Brattle Street Church before taking a teaching job at Harvard. The position included preparatory studies in Europe, so Everett spent two years in studies at the University of Göttingen, and another two years traveling around Europe. At Harvard he taught ancient Greek literature for several years before becoming involved in politics and he served ten years in the United States Congress before winning election as Governor of Massachusetts in 1835. As governor he introduced the state Board of Education, the first of its type in the nation, after being defeated in the 1839 election by one vote, Everett was appointed Minister to Great Britain, serving until 1845. He next became President of Harvard, a job he came to dislike. In 1849 he became an assistant to friend and colleague Daniel Webster. Upon Websters death Everett served as Acting Secretary for a few months, in the later years of his life Everett traveled, giving speeches all over the country. He supported efforts to maintain the Union before the Civil War and he was active in supporting the Union effort during the war and supported Lincoln in the 1864 election. Edward Everett was born on April 11,1794 in Dorchester, Massachusetts, the fourth of eight children, to the Rev. Oliver Everett and Lucy Hill Everett, the daughter of Alexander Sears Hill. His father was a descendant of early colonist Richard Everett. His father had served as pastor of New South Church, retiring due to poor health two years before Everett was born and he died in 1802, when Edward was eight, after which his mother moved the family to Boston. He attended local schools, and then a school of Ezekiel Webster. During this time Ezekiels brother Daniel sometimes taught classes, Everett, Everett attended Boston Latin School in 1805, and then briefly Phillips Exeter Academy, where his older brother Alexander Hill Everett was teaching. At the age of 13, he was admitted to Harvard College, in 1811, at age 17, he graduated as the valedictorian of his class. Unlike some of the students at the time, Everett was an earnest. While a student, he was a member of the Hasty Pudding Club, uncertain what to do next, Everett was encouraged by his pastor, Joseph Stevens Buckminster of the Brattle Street Church, to study for the ministry
27.
Gold certificate
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A gold certificate in general is a certificate of ownership that gold owners hold instead of storing the actual gold. It has both a historic meaning as a U. S. paper currency and a current meaning as a way to invest in gold, Banks may issue gold certificates for gold that is allocated or unallocated. Unallocated gold certificates are a form of banking and do not guarantee an equal exchange for metal in the event of a run on the issuing banks gold on deposit. Allocated gold certificates should be correlated with specific numbered bars, although it is difficult to determine whether a bank is improperly allocating a single bar to more than one party, the gold certificate was used from 1863 to 1933 in the United States as a form of paper currency. Each certificate gave its title to a corresponding amount of gold coin at the statutory rate of $20.67 per troy ounce established by the Coinage Act of 1834. Therefore, this type of currency was intended to represent actual gold coinage. In 1933 the practice of redeeming these notes for coins was ended by the U. S. government. After the gold recall in 1933, gold certificates were withdrawn from circulation, as noted above, it was illegal to own them. That fact, and public fear that the notes would be devalued and made obsolete, in general, the notes are scarce and valuable, especially examples in new condition. The early history of United States gold certificates is somewhat hazy and they were authorized under the Act of 3 March 1863, but unlike the United States Notes also authorized, they apparently were not printed until 1865. They did not have a date, and were hand-dated upon issue. The first issue featured a vignette of an eagle uniformly across all denominations, several later issues featured various portraits of historical figures. The reverse sides were either blank or featured abstract designs, the only exception was the $20 of 1865, which had a picture of a $20 gold coin. From 1862 to 1879, United States Notes were legal tender, however some transactions, such as customs duties and interest on the federal debt, were required to be made in gold. Thus the early gold certificates were acceptable in some transactions where United States Notes were not, the Series of 1882 was the first series that was payable to the bearer, it was transferable and anyone could redeem it for the equivalent in gold. This was the case with all gold certificate series from that point on, with the exception of 1888,1900, the series of 1888 and 1900 were issued to specific depositors, as before. The series of 1882 had the portraits as the series of 1875. Gold certificates, along all other U. S. currency, were made in two sizes—a larger size from 1865 to 1928, and a smaller size from 1928 to 1934
28.
Silas Wright
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Silas Wright, Jr. was an American Democratic politician, a member of the Albany Regency. Wright was born in Amherst, Massachusetts, and moved with his father to Weybridge, Vermont and he graduated from Middlebury College in 1815 and moved to Sandy Hill, New York, the next year, where he studied law, being admitted to the bar in 1819. Wright commenced practice in Canton, New York and he served as surrogate of St. Lawrence County 1821-1824 and then as a member of the New York State Senate from 1824 to 1827. Wright was appointed general of the state militia in 1827. In 1826, he was elected to the Twentieth Congress and served from March 4,1827, to February 16,1829, in Congress, he supported the protective tariff of 1828, although subsequently he became an advocate of a tariff for revenue only. He also voted for the appointment of a committee to inquire into the expediency of abolishing slavery in the District of Columbia and he successfully contested the election of George Fisher to the Twenty-first Congress, but declined to qualify. Wright was elected to the United States Senate in 1833 as a Democrat to fill the vacancy caused by the resignation of William L. Marcy and he was reelected in 1837 and served from January 4,1833, to November 26,1844. In the Senate, he served as Chairman of the Finance Committee from 1836 to 1841, Wright declined, and instead ran for the position of Governor of New York. He served as Governor from 1845 to 1846 and he was an unsuccessful candidate for reelection, being defeated by the Whig candidate John Young. Wright died soon after, aged 52, in Canton, on August 27,1847, wrights sudden death surprised many, as he was seen as a potential candidate in the 1848 presidential election. The people of Weybridge, Vermont, erected a monument to their local son, the monument is the basis for the name of the local Monument Farms Dairy. Lives by Gilet, Hammond, Jenkins, United States Congress, biographical Directory of the United States Congress. St. Lawrence County Historical Association at the Silas Wright House
29.
Flag of the United States
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The flag of the United States, often referred to as the American flag, is the national flag of the United States. S. Nicknames for the flag include The Stars and Stripes, Old Glory, the current design of the U. S. flag is its 27th, the design of the flag has been modified officially 26 times since 1777. The 48-star flag was in effect for 47 years until the 49-star version became official on July 4,1959, the 50-star flag was ordered by the then president Eisenhower on August 21,1959, and was adopted in July 1960. It is the version of the U. S. flag and has been in use for over 56 years. At the time of the Declaration of Independence in July 1776, the flag contemporaneously known as the Continental Colors has historically been referred to as the first national flag. The name Grand Union was first applied to the Continental Colors by George Preble in his 1872 history of the American flag, the flag closely resembles the British East India Company flag of the era, and Sir Charles Fawcett argued in 1937 that the company flag inspired the design. Both flags could have been constructed by adding white stripes to a British Red Ensign. However, an East India Company flag could have nine to 13 stripes. In any case, both the stripes and the stars have precedents in classical heraldry, Flag Day is now observed on June 14 of each year. While scholars still argue about this, tradition holds that the new flag was first hoisted in June 1777 by the Continental Army at the Middlebrook encampment. The first official U. S. flag flown during battle was on August 3,1777, Massachusetts reinforcements brought news of the adoption by Congress of the official flag to Fort Schuyler. A voucher is extant that Capt. Swartwout of Dutchess County was paid by Congress for his coat for the flag, the 1777 resolution was most probably meant to define a naval ensign. In the late 18th century, the notion of a flag did not yet exist. The flag resolution appears between other resolutions from the Marine Committee, on May 10,1779, Secretary of the Board of War Richard Peters expressed concern it is not yet settled what is the Standard of the United States. However, the term, Standard, referred to a standard for the Army of the United States. Each regiment was to carry the standard in addition to its regimental standard. The national standard was not a reference to the national or naval flag, the appearance was up to the maker of the flag. Some flag makers arranged the stars into one big star, in a circle or in rows, one arrangement features 13 five-pointed stars arranged in a circle, with the stars arranged pointing outwards from the circle, the so-called Betsy Ross flag
30.
William H. Seward
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William Henry Seward was United States Secretary of State from 1861 to 1869, and earlier served as Governor of New York and United States Senator. Seward was born in southeastern New York, where his father was a farmer and he was educated as a lawyer and moved to the Central New York town of Auburn. Seward was elected to the New York State Senate in 1830 as an Anti-Mason, four years later, he became the gubernatorial nominee of the Whig Party. Though he was not successful in that race, Seward was elected governor in 1838, during this period, he signed several laws that advanced the rights and opportunities for black residents, as well as guaranteeing fugitive slaves jury trials in the state. The legislation protected abolitionists, and he used his position to intervene in cases of freed black people who were enslaved in the South, after several years of practicing law in Auburn, he was elected by the state legislature to the U. S. Senate in 1849. Sewards strong stances and provocative words against slavery brought him hatred in the South and he was re-elected to the Senate in 1855, and soon joined the nascent Republican Party, becoming one of its leading figures. As the 1860 presidential election approached, he was regarded as the candidate for the Republican nomination. Although devastated by his loss, he campaigned for Lincoln, who was elected and appointed him Secretary of State, Seward did his best to stop the southern states from seceding, once that failed, he devoted himself wholeheartedly to the Union cause. His firm stance against foreign intervention in the Civil War helped deter Britain and France from entering the conflict and he was one of the targets of the 1865 assassination plot that killed Lincoln, and was seriously wounded by conspirator Lewis Powell. Seward remained loyally at his post through the presidency of Andrew Johnson, during which he negotiated the Alaska purchase in 1867 and his contemporary Carl Schurz described Seward as one of those spirits who sometimes will go ahead of public opinion instead of tamely following its footprints. Seward was born in on May 16,1801 in the community of Florida, New York. He was the son of Samuel Sweezy Seward and his wife Mary Seward. Samuel Seward was a landowner and slaveholder in New York State. Florida was located some 60 miles north of New York City, west of the Hudson River, Young Seward attended school there, and also in the nearby county seat of Goshen. He was a student who enjoyed his studies. In later years, one of the family slaves would relate that instead of running away from school to go home. At the age of 15, Henry—he was known by his name as a boy—was sent to Union College in Schenectady. Admitted to the class, Seward was an outstanding student and was elected to Phi Beta Kappa
31.
Panama
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Panama, officially called the Republic of Panama, is a country usually considered to be entirely in North America or Central America. It is bordered by Costa Rica to the west, Colombia to the southeast, the Caribbean Sea to the north, the capital and largest city is Panama City, whose metropolitan area is home to nearly half of the countrys 4.1 million people. Panama was inhabited by indigenous tribes prior to settlement by the Spanish in the 16th century. Panama broke away from Spain in 1821 and joined a union of Nueva Granada, Ecuador, when Gran Colombia dissolved in 1831, Panama and Nueva Granada remained joined, eventually becoming the Republic of Colombia. With the backing of the United States, Panama seceded from Colombia in 1903, in 1977 an agreement was signed for the total transfer of the Canal from the United States to Panama by the end of the 20th century, which culminated on 31 December 1999. Revenue from canal tolls continues to represent a significant portion of Panamas GDP, although commerce, banking, in 2015 Panama ranked 60th in the world in terms of the Human Development Index. Since 2010, Panama remains the second most competitive economy in Latin America, covering around 40 percent of its land area, Panamas jungles are home to an abundance of tropical plants and animals – some of them to be found nowhere else on the planet. There are several theories about the origin of the name Panama, some believe that the country was named after a commonly found species of tree. Others believe that the first settlers arrived in Panama in August, when butterflies abound, the best-known version is that a fishing village and its nearby beach bore the name Panamá, which meant an abundance of fish. Captain Antonio Tello de Guzmán, while exploring the Pacific side in 1515, in 1517 Don Gaspar De Espinosa, a Spanish lieutenant, decided to settle a post there. In 1519 Pedrarias Dávila decided to establish the Empires Pacific city in this site, the new settlement replaced Santa María La Antigua del Darién, which had lost its function within the Crowns global plan after the beginning of the Spanish exploitation of the riches in the Pacific. Blending all of the above together, Panamanians believe in general that the word Panama means abundance of fish and this is the official definition given in social studies textbooks approved by the Ministry of Education in Panama. However, others believe the word Panama comes from the Kuna word bannaba which means distant or far away, at the time of the arrival of the Spanish in the 16th century, the known inhabitants of Panama included the Cuevas and the Coclé tribes. These people have disappeared, as they had no immunity from European infectious diseases. The earliest discovered artifacts of indigenous peoples in Panama include Paleo-Indian projectile points, later central Panama was home to some of the first pottery-making in the Americas, for example the cultures at Monagrillo, which date back to 2500–1700 BC. These evolved into significant populations best known through their spectacular burials at the Monagrillo archaeological site, the monumental monolithic sculptures at the Barriles site are also important traces of these ancient isthmian cultures. Before Europeans arrived Panama was widely settled by Chibchan, Chocoan, the largest group were the Cueva. The size of the population of the isthmus at the time of European colonization is uncertain
32.
Merchant vessel
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A merchant vessel or trading vessel is a boat or ship that transports cargo or carries passengers for hire. This excludes pleasure craft that do not carry passengers for hire, most countries of the world operate fleets of merchant ships. However, due to the costs of operations, today these fleets are in many cases sailing under the flags of nations that specialize in providing manpower. Such flags are known as flags of convenience, currently, Liberia and Panama are particularly favoured. Ownership of the vessels can be by any country, however, the Greek-owned fleet is the largest in the world. Today, the Greek fleet accounts for some 16 per cent of the world’s tonnage, during wars, merchant ships may be used as auxiliaries to the navies of their respective countries, and are called upon to deliver military personnel and materiel. The term commercial vessel is defined by the United States Coast Guard as any vessel engaged in trade or that carries passengers for hire. In English, Merchant Navy without further clarification is used to refer to the British Merchant Navy, general cargo ships include multi-purpose and project vessels and roll-on/roll-off cargo. A cargo ship or freighter is any sort of ship or vessel that carries cargo, goods, thousands of cargo carriers ply the worlds seas and oceans each year, they handle the bulk of international trade. Cargo ships are usually designed for the task, often being equipped with cranes and other mechanisms to load and unload. Dry cargo ships today are mainly bulk carriers and container ships, bulk carriers or bulkers are used for the transportation of homogeneous cargo such as coal, rubber, copra, tin, and wheat. Container ships are used for the carriage of miscellaneous goods, a bulk carrier is an ocean-going vessel used to transport bulk cargo items such as iron ore, bauxite, coal, cement, grain and similar cargo. Bulk carriers can be recognized by large box-like hatches on deck, the dimensions of bulk carriers are often determined by the ports and sea routes that they need to serve, and by the maximum width of the Panama Canal. Most lakes are too small to accommodate bulk carriers, but a large fleet of lake freighters has been plying the Great Lakes, container ships are cargo ships that carry all of their load in truck-size containers, in a technique called containerization. They form a common means of commercial freight transport. A tanker is a designed to transport liquids in bulk. Tankers can range in size from several hundred tons, designed to serve small harbours and coastal settlements, to several hundred thousand tons, gas Carriers such as LNG carriers as they are typically known, are a relatively rare tanker designed to carry liquefied natural gas. It has a deadweight of 565 thousand metric tons and length of about 458 meters, the use of such large ships is in fact very unprofitable, due to the inability to operate them at full cargo capacity, hence, the production of supertankers has currently ceased
33.
Battleship
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A battleship is a large armored warship with a main battery consisting of large caliber guns. During the late 19th and early 20th centuries the battleship was the most powerful type of warship, the word battleship was coined around 1794 and is a contraction of the phrase line-of-battle ship, the dominant wooden warship during the Age of Sail. The term came into use in the late 1880s to describe a type of ironclad warship. In 1906, the commissioning of HMS Dreadnought heralded a revolution in battleship design, subsequent battleship designs, influenced by HMS Dreadnought, were referred to as dreadnoughts. Battleships were a symbol of naval dominance and national might, the launch of Dreadnought in 1906 commenced a new naval arms race. Jutland was the largest naval battle and the only full-scale clash of battleships in the war, the Naval Treaties of the 1920s and 1930s limited the number of battleships, though technical innovation in battleship design continued. The value of the battleship has been questioned, even during their heyday, there were few of the decisive fleet battles that battleship proponents expected, and used to justify the vast resources spent on building battlefleets. Battleships were retained by the United States Navy into the Cold War for fire support purposes before being stricken from the U. S. Naval Vessel Register in the 2000s. A ship of the line was a large, unarmored wooden sailing ship which mounted a battery of up to 120 smoothbore guns, from 1794, the alternative term line of battle ship was contracted to battle ship or battleship. The sheer number of guns fired broadside meant a sail battleship could wreck any wooden enemy, holing her hull, knocking down masts, wrecking her rigging, and killing her crew. However, the range of the guns was as little as a few hundred yards. The first major change to the ship of the concept was the introduction of steam power as an auxiliary propulsion system. Steam power was introduced to the navy in the first half of the 19th century, initially for small craft. The French Navy introduced steam to the line of battle with the 90-gun Napoléon in 1850—the first true steam battleship, Napoléon was armed as a conventional ship-of-the-line, but her steam engines could give her a speed of 12 knots, regardless of the wind condition. This was a decisive advantage in a naval engagement. The introduction of steam accelerated the growth in size of battleships, the adoption of steam power was only one of a number of technological advances which revolutionized warship design in the 19th century. The ship of the line was overtaken by the ironclad, powered by steam, protected by metal armor, and armed with guns firing high-explosive shells. In the Crimean War, six ships and two frigates of the Russian Black Sea Fleet destroyed seven Turkish frigates and three corvettes with explosive shells at the Battle of Sinop in 1853
34.
Federal Reserve Bank Note
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They had the same value as other kinds of notes of similar face value. Federal Reserve Bank Notes differ from Federal Reserve Notes in that they are backed by one of the twelve Federal Reserve Banks, rather than by all collectively. They were backed in a way to National Bank Notes, using U. S. bonds. Federal Reserve Bank Notes are no longer issued, the only U. S. banknotes still in production since 1971 are the Federal Reserve Notes, additional denominations of $1, $2, and $50 were issued in 1918. Small size Federal Reserve Bank Notes were printed as an issue in 1933 using the same paper stock as National Bank Notes. They were printed in denominations of $5 through $100, a National Bank Note has a line for the national banks presidents signature. The small size Federal Reserve Bank Note printed a bar over the label for this line since Federal Reserve Banks had governors, not presidents. The wording also was changed to add, Or by like deposit of other securities after the phrase, the twelve Federal Reserve Districts also appear on the bills as black alphabetically sequenced letters, from A to L, a system essentially followed today on the $1 and $2 bills. This emergency issue was prompted by the hoarding of cash because of the many bank failures happening at the time. This also limited the ability of the National Banks to issue notes of their own, small size Federal Reserve Bank Notes were discontinued in 1934 and no longer available from banks since 1945. As small size notes, they have brown seals and serial numbers, but while they look very similar, and both say National Currency across the top of the obverse, the issuers were not the same and they are considered to be distinctly different types of bills
35.
Federal Reserve Bank of St. Louis
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The Federal Reserve Bank of St. Louis is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D. C. make up the United States central bank. Missouri is the state to have two main branches of Federal Reserve Banks. Located in downtown St. Louis, the St and it has branches in Little Rock, Louisville and Memphis. Its building, at 411 Locust Street, was designed by St. Louis firm Mauran, the following people serve on the board of directors as of April 13,2016. James Bullard took office as president and chief officer of the Federal Reserve Bank of St. Louis in April 2008. He directs the activities of the head office in St. Louis as well as its three branches in Little Rock, Louisville and Memphis. In addition, he participates in the Federal Open Market Committee, Bullard is an accomplished economic theorist, whose fundamental contributions to monetary economics and policy analysis are highly regarded in the profession. Bullard joined the division of the Federal Reserve Bank of St. Louis in 1990. Prior to being appointed president, he was deputy director of research for monetary analysis, congress gave the Federal Reserve responsibility for setting monetary policy under the Federal Reserve Act of 1913 so that actions taken by the central bank would be free from political concerns. Along with the other 11 regional Feds, the St. Louis Fed helps guide the economy by participating on the Federal Open Market Committee. The St. Louis Fed supervises state-member banks and bank holding companies, examiners collect and verify data from financial institutions to ensure an accurate accounting of financial institutions’ conditions, as well as data on the money and reserves in the banking system. The St. Louis Fed processes bank applications for acquisitions and new activities, the chairman of the St. Louis Feds CDIAC represents the Eighth District at the Board of Governors CDIAC meetings, held twice annually. As part of Banking Supervision and Regulation, the St, the department also facilitates partnerships between lenders and their communities and seeks to generate economic development and affordable housing throughout the Eighth District. The executives are all experts in community and economic development and represent nonprofit organizations, financial institutions, universities, local governments, publications include Bridges, a quarterly publication for community organizations and leaders. The St. Louis Fed’s research division, led by vice president Christopher J. Waller. In the 1960s, the St. Louis Fed garnered a reputation as a maverick in the Federal Reserve System because of its espousal of monetarism. Spurred by bank president Darryl Francis and research director Homer Jones, monetarist theories have since been adopted widely. Four times a year, St. Louis Fed economists release the Burgundy Books, patterned after the Federal Reserve System’s Beige Book, as an economic snapshot of the four zones in the district
36.
Series of 1928 (United States Currency)
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The Series of 1928 was the first issue of small-size currency printed and released by the U. S. government. These notes, first released to the public on July 10,1929, were the first standardized notes in terms of design and characteristics, featuring similar portraits and other facets. This was the type of currency that, at first. These notes also carried a seal bearing the identity of the Federal Reserve Bank of issuance, the bank was noted in the black, circular seal to the left of the portrait. This can be seen in the picture at the upper right, the Federal Reserve Bank of Chicago, responsible for the 7th district of the Federal Reserve System, issued this note. The regional seal is a design unique to Federal Reserve Notes. While these notes were issued by the Federal Reserve Banks, they were still obligations of the U. S. Government, as stated, The United States of America will pay to the bearer on demand dollars. This obligation to exchange FRNs for gold ended in the early 1930s as the United States outlawed the private ownership of gold, the $5, $10, and $20 denominations were the first to be issued. Series of 1928A for $5, $10, and $20 resulted from a signature change, the four corner numbers were aligned vertically, as well, causing a shift in plate position letters on certain denominations. Series of 1928C included only fives, tens, and twenties and this series of notes saw very low printing figures, as only certain districts issued notes. This series, the result of a change, is also known for its specific light green Treasury Seal variety. Series of 1928D, also the result of a change, included only fives. These notes are among the rarest small-size notes in existence today, all banknotes in the following table are Series of 1928 Federal Reserve Notes from the National Numismatic Collection at the National Museum of American History. Series of 1928 United States Notes were issued in $2 and $5 denominations until the early 1950s, also, for a brief period in 1933, Series of 1928 $1 United States Notes were issued as a response to the Great Depression. Most of these remained in storage before being released in Puerto Rico during 1948-9, Series of 1928 through 1928E silver certificates were only issued in the $1 denomination. The design closely followed the 1923 $1 Silver Certificate,1928 saw the last issuance of Gold Certificates to the public prior to their confiscation during the Great Depression
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Great Depression
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The Great Depression was a severe worldwide economic depression that took place during the 1930s. The timing of the Great Depression varied across nations, in most countries it started in 1929 and it was the longest, deepest, and most widespread depression of the 20th century. In the 21st century, the Great Depression is commonly used as an example of how far the economy can decline. The depression originated in the United States, after a fall in stock prices that began around September 4,1929. Between 1929 and 1932, worldwide GDP fell by an estimated 15%, by comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s, however, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II. The Great Depression had devastating effects in both rich and poor. Personal income, tax revenue, profits and prices dropped, while international trade plunged by more than 50%, unemployment in the U. S. rose to 25% and in some countries rose as high as 33%. Cities all around the world were hit hard, especially dependent on heavy industry. Construction was virtually halted in many countries, farming communities and rural areas suffered as crop prices fell by about 60%. Facing plummeting demand with few sources of jobs, areas dependent on primary sector industries such as mining and logging suffered the most. Even after the Wall Street Crash of 1929 optimism persisted for some time, john D. Rockefeller said These are days when many are discouraged. In the 93 years of my life, depressions have come, prosperity has always returned and will again. The stock market turned upward in early 1930, returning to early 1929 levels by April and this was still almost 30% below the peak of September 1929. Together, government and business spent more in the first half of 1930 than in the period of the previous year. On the other hand, consumers, many of whom had suffered losses in the stock market the previous year. In addition, beginning in the mid-1930s, a severe drought ravaged the agricultural heartland of the U. S, by mid-1930, interest rates had dropped to low levels, but expected deflation and the continuing reluctance of people to borrow meant that consumer spending and investment were depressed. By May 1930, automobile sales had declined to below the levels of 1928, prices in general began to decline, although wages held steady in 1930
38.
Gold standard
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A gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. Three types can be distinguished, specie, bullion, and exchange, the gold bullion standard is a system in which gold coins do not circulate, but the authorities agree to sell gold bullion on demand at a fixed price in exchange for the circulating currency. The gold exchange standard usually does not involve the circulation of gold coins. This creates a de facto standard, where the value of the means of exchange has a fixed external value in terms of gold that is independent of the inherent value of the means of exchange itself. Most nations abandoned the standard as the basis of their monetary systems at some point in the 20th century. An estimated total of 174,100 tonnes of gold have been mined in human history and this is roughly equivalent to 5.6 billion troy ounces or, in terms of volume, about 9,261 cubic metres, or a cube 21 metres on a side. There are varying estimates of the volume of gold mined. One reason for the variance is that gold has been mined for thousands of years, another reason is that some nations are not particularly open about how much gold is being mined. In addition, it is difficult to account for the output in illegal mining activities. World production for 2011 was at 2,700 tonnes, since the 1950s, annual gold output growth has approximately kept pace with world population growth of around 2x, although far less than world economic growth of some 8x, or some 4x since 1980. The gold specie standard arose from the acceptance of gold as currency. Various commodities have been used as money, typically, the one that loses the least value over time becomes the accepted form, the use of gold as money began thousands of years ago in Asia Minor. During the early and high Middle Ages, the Byzantine gold solidus, commonly known as the bezant, was used widely throughout Europe, however, as the Byzantine Empires economic influence declined, so too did the use of the bezant. In its place, European territories chose silver as its currency over gold, Silver pennies based on the Roman denarius became the staple coin of Mercia in Great Britain around the time of King Offa, circa CE 757–796. Similar coins, including Italian denari, French deniers, and Spanish dineros circulated in Europe, Spanish explorers discovered silver deposits in Mexico in 1522 and at Potosí in Bolivia in 1545. International trade came to depend on such as the Spanish dollar, the Maria Theresa thaler, and later. In modern times, the British West Indies was one of the first regions to adopt a gold specie standard, following Queen Annes proclamation of 1704, the British West Indies gold standard was a de facto gold standard based on the Spanish gold doubloon. A formal gold specie standard was first established in 1821, when Britain adopted it following the introduction of the sovereign by the new Royal Mint at Tower Hill in 1816
39.
Latin
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Latin is a classical language belonging to the Italic branch of the Indo-European languages. The Latin alphabet is derived from the Etruscan and Greek alphabets, Latin was originally spoken in Latium, in the Italian Peninsula. Through the power of the Roman Republic, it became the dominant language, Vulgar Latin developed into the Romance languages, such as Italian, Portuguese, Spanish, French, and Romanian. Latin, Italian and French have contributed many words to the English language, Latin and Ancient Greek roots are used in theology, biology, and medicine. By the late Roman Republic, Old Latin had been standardised into Classical Latin, Vulgar Latin was the colloquial form spoken during the same time and attested in inscriptions and the works of comic playwrights like Plautus and Terence. Late Latin is the language from the 3rd century. Later, Early Modern Latin and Modern Latin evolved, Latin was used as the language of international communication, scholarship, and science until well into the 18th century, when it began to be supplanted by vernaculars. Ecclesiastical Latin remains the language of the Holy See and the Roman Rite of the Catholic Church. Today, many students, scholars and members of the Catholic clergy speak Latin fluently and it is taught in primary, secondary and postsecondary educational institutions around the world. The language has been passed down through various forms, some inscriptions have been published in an internationally agreed, monumental, multivolume series, the Corpus Inscriptionum Latinarum. Authors and publishers vary, but the format is about the same, volumes detailing inscriptions with a critical apparatus stating the provenance, the reading and interpretation of these inscriptions is the subject matter of the field of epigraphy. The works of several hundred ancient authors who wrote in Latin have survived in whole or in part and they are in part the subject matter of the field of classics. The Cat in the Hat, and a book of fairy tales, additional resources include phrasebooks and resources for rendering everyday phrases and concepts into Latin, such as Meissners Latin Phrasebook. The Latin influence in English has been significant at all stages of its insular development. From the 16th to the 18th centuries, English writers cobbled together huge numbers of new words from Latin and Greek words, dubbed inkhorn terms, as if they had spilled from a pot of ink. Many of these words were used once by the author and then forgotten, many of the most common polysyllabic English words are of Latin origin through the medium of Old French. Romance words make respectively 59%, 20% and 14% of English, German and those figures can rise dramatically when only non-compound and non-derived words are included. Accordingly, Romance words make roughly 35% of the vocabulary of Dutch, Roman engineering had the same effect on scientific terminology as a whole
40.
Counterfeit
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To counterfeit means to imitate something. Counterfeit products are fakes or unauthorised replicas of the real product, counterfeit products are often produced with the intent to take advantage of the superior value of the imitated product. Counterfeit products tend to have company logos and brands, have a reputation for being lower quality. This has resulted in the deaths of hundreds of thousands of people, due to automobile and aviation accidents, poisoning, the counterfeiting of money is usually attacked aggressively by governments worldwide. Paper money is the most popular product counterfeited, counterfeit money is currency that is produced without the legal sanction of the state or government and in deliberate violation of that countrys laws. The United States Secret Service, mostly known for its guarding-of-officials task, was organized primarily to combat the counterfeiting of American money. Forgery is the process of making or adapting documents with the intention to deceive and it is a form of fraud, and is often a key technique in the execution of identity theft. Uttering and publishing is a term in United States law for the forgery of documents, such as a trucking companys time. Questioned document examination is a process for investigating many aspects of various documents. Security printing is a printing industry specialty, focused on creating legal documents which are difficult to forge, the spread of counterfeit goods has become global in recent years and the range of goods subject to infringement has increased significantly. Apparel and accessories accounted for over 50 percent of the goods seized by U. S Customs. A report by the Organisation for Economic Co-operation and Development indicates that up to US$200 Billion of international trade could have been in counterfeit and illegally copied goods in 2005. In November 2009, the OECD updated these estimates, concluding that the share of counterfeit and that represents an increase to US$250 billion worldwide. In a detailed breakdown of the counterfeit goods industry, the total loss faced by countries around the world is $600 billion, when calculating counterfeit products, current estimates place the global losses at $400 billion. Some see the rise in counterfeiting of goods as being related to globalisation and these new managers of production have little or no loyalty to the original corporation. They see that profits are being made by the brand for doing little and see the possibilities of removing the middle men. Certain consumer goods, especially expensive or desirable brands or those that are easy to reproduce cheaply, have become frequent. The counterfeiters either attempt to deceive the consumer into thinking they are purchasing a legitimate item, or convince the consumer that they could deceive others with the imitation
41.
Ultraviolet
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Ultraviolet is an electromagnetic radiation with a wavelength from 10 nm to 400 nm, shorter than that of visible light but longer than X-rays. UV radiation constitutes about 10% of the light output of the Sun. It is also produced by electric arcs and specialized lights, such as lamps, tanning lamps. Consequently, the effects of UV are greater than simple heating effects. Suntan, freckling and sunburn are familiar effects of over-exposure, along with risk of skin cancer. Living things on dry land would be damaged by ultraviolet radiation from the Sun if most of it were not filtered out by the Earths atmosphere. More-energetic, shorter-wavelength extreme UV below 121 nm ionizes air so strongly that it is absorbed before it reaches the ground, Ultraviolet is also responsible for the formation of bone-strengthening vitamin D in most land vertebrates, including humans. The UV spectrum thus has both beneficial and harmful to human health. Ultraviolet rays are invisible to most humans, the lens in a human eye ordinarily filters out UVB frequencies or higher, and humans lack color receptor adaptations for ultraviolet rays. Under some conditions, children and young adults can see ultraviolet down to wavelengths of about 310 nm, near-UV radiation is visible to some insects, mammals, and birds. Small birds have a fourth color receptor for ultraviolet rays, this gives birds true UV vision, reindeer use near-UV radiation to see polar bears, who are poorly visible in regular light because they blend in with the snow. UV also allows mammals to see urine trails, which is helpful for animals to find food in the wild. The males and females of some species look identical to the human eye. Ultraviolet means beyond violet, violet being the color of the highest frequencies of visible light, Ultraviolet has a higher frequency than violet light. He called them oxidizing rays to emphasize chemical reactivity and to them from heat rays. The terms chemical and heat rays were eventually dropped in favour of ultraviolet and infrared radiation, in 1878 the effect of short-wavelength light on sterilizing bacteria was discovered. By 1903 it was known the most effective wavelengths were around 250 nm, in 1960, the effect of ultraviolet radiation on DNA was established. The discovery of the ultraviolet radiation below 200 nm, named vacuum ultraviolet because it is absorbed by air, was made in 1893 by the German physicist Victor Schumann
42.
Oval
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An oval is a closed curve in a plane which loosely resembles the outline of an egg. The term is not very specific, but in areas it is given a more precise definition. In common English, the term is used in a broader sense, the three-dimensional version of an oval is called an ovoid. The term oval when used to describe curves in geometry is not well-defined, many distinct curves are commonly called ovals or are said to have an oval shape. Generally, to be called an oval, a plane curve should resemble the outline of an egg or an ellipse, the adjectives ovoidal and ovate mean having the characteristic of being an ovoid, and are often used as synonyms for egg-shaped. In the theory of planes, an oval is a set of n +1 points in a projective plane of order n. An ovoid in the projective geometry PG is a set of q2 +1 points such that no three points are collinear. At each point of an all the tangent lines to the ovoid lie in a single plane. The shape of an egg is approximated by long half of a spheroid, joined to a short half of a roughly spherical ellipsoid. These are joined at the equator and sharing a principal axis of rotational symmetry, although the term egg-shaped usually implies a lack of reflection symmetry across the equatorial plane, it may also refer to true prolate ellipsoids. It can also be used to describe the 2-dimensional figure that, if revolved around its major axis, in technical drawing, an oval is a figure constructed from two pairs of arcs, with two different radii. The arcs are joined at a point in which lines tangential to both joining arcs lie on the line, thus making the joint smooth. Any point of an oval belongs to an arc with a constant radius, but in an ellipse, in common speech, oval means a shape rather like an egg or an ellipse, which may be two-dimensional or three-dimensional. It also often refers to a figure that resembles two semicircles joined by a rectangle, like a cricket infield, speed skating rink or an athletics track, however, this is more correctly called a stadium or archaically, an oblong. Sometimes, it can refer to any rectangle with rounded corners. The shape lends its name to many well-known places, ellipse Stadium Vesica piscis – a pointed oval
43.
Photocopier
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A photocopier is a machine that makes paper copies of documents and other visual images quickly and cheaply. Heat, pressure or a combination of both is used to fuse the toner onto the paper. Earlier versions included the Gestetner stencil duplicator, invented by David Gestetner in 1881, xerographic office photocopying was introduced by Xerox in 1959, and it gradually replaced copies made by Verifax, Photostat, carbon paper, mimeograph machines, and other duplicating machines. Photocopying is widely used in the business, education, and government sectors, in the 2010s, there is a convergence in some high-end machines between the roles of a photocopier, a fax machine, a scanner, and a computer network-connected printer into a multi-function printer. As of 2015, some machines can copy and print in color. Chester Carlson, the inventor of photocopying, was originally a patent attorney, as well as a part-time researcher and his job at the patent office in New York required him to make a large number of copies of important papers. Carlson, who was arthritic, found this to be a painful and this motivated him to conduct experiments with photo conductivity. Carlson used his kitchen for his experiments, and, in 1938. He made the first photocopy using a plate covered with sulfur. The words 10-22-38 Astoria were written on a slide, which was placed on top of more sulfur. After the slide was removed, an image of the words remained. Carlson tried to sell his invention to some companies, but failed because the process was still underdeveloped, between 1939 and 1944, Carlson was turned down by over 20 companies, including IBM and General Electric—neither of which believed there was a significant market for copiers. In 1944, the Battelle Memorial Institute, a organization in Columbus, Ohio. Over the next five years, the institute conducted experiments to improve the process of electrophotography, in 1947, Haloid Corporation approached Battelle to obtain a license to develop and market a copying machine based on this technology. Haloid felt that the word electrophotography was too complicated and did not have good recall value, Haloid called the new copier machines Xerox Machines and, in 1948, the word Xerox was trademarked. Haloid eventually changed its name to Xerox Corporation, in 1949, Xerox Corporation introduced the first xerographic copier called the Model A. Xerox became so successful that, in North America, photocopying came to be known as xeroxing. Xerox has actively fought to prevent Xerox from becoming a genericized trademark, some languages include hybrid terms, such as the widely used Polish term kserokopia, even though relatively few photocopiers are of the Xerox brand
44.
John W. Snow
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John William Snow is the former CEO of CSX Corporation, and served as the 73rd United States Secretary of the Treasury under U. S. President George W. Bush. He replaced Secretary Paul ONeill on February 3,2003 and was succeeded by Henry Paulson on July 3,2006, Snow submitted a letter of resignation on May 30,2006, effective after an orderly transition period for my successor. Snow announced on June 29,2006 that he had completed his last day on the job, Snow is currently the Chairman of Cerberus Capital Management. Snow was born in Toledo, Ohio, the son of Catherine, a teacher, and William Dean Snow. Snow attended high school at Gilmour Academy in Gates Mills, Ohio and he did his undergraduate studies at Kenyon College and the University of Toledo, from which he received a B. A. in 1962. He received a Ph. D. in economics from the University of Virginia in 1965, from 1965 to 1968, he was an Assistant Professor of Economics at the University of Maryland. He completed a Juris Doctor at the George Washington University Law School in 1967 and then worked at the Washington, Snow lives in Richmond, Virginia with his wife Carolyn. He has three children and six grandchildren, Snows alma mater, Kenyon College, awarded him an honorary LL. D. in 1993. He has also received the U. S. Department of Transportation Secretarys Outstanding Achievement Award and has named a Distinguished Fellow by the Yale School of Management. In 1972 Snow left Wheeler & Wheeler and took up a position as Assistant Professor of Law at the George Washington University Law School, in 1975 Snow left GWU Law School and took up the full-time position of Deputy Undersecretary in the Department of Transportation. In 1976 he left this post when he was named as Administrator of the National Highway Traffic Safety Administration, with the election of Jimmy Carter, Snow departed public life in 1977. In addition, he was named a Distinguished Fellow at the Yale School of Management from 1978 until 1980, in 1984, he was promoted to Executive Vice President. In 1985 CSX installed Snow as President and CEO of their B&O Railroad and this created a new entity, CSX Transportation, headquartered in Jacksonville, Florida. Snow became the President and CEO of CSX Transportation, in 1988 Snow left CSX Transportation to become President and Chief Operating Officer of CSX Corporation. As of April 1989 he was President and Chief Executive Officer of CSX, from 1991, he also served as CSXs Chairman. He continued to all three posts until he was named Secretary of the Treasury in 2003. Part of CSX, CSX Lines was sold to The Carlyle Group, after Snow left the company for the White House, CSX sold its international port operations to the UAE company, Dubai Transport. During Ronald Reagans campaign for the presidency in 1980, Snow was a member of Governor Reagans four-man advisory group on regulatory policy, following his election victory, President-Elect Reagan named Snow as Vice Chairman of his Transportation Transition Team
45.
Ronald Reagan
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Ronald Wilson Reagan was an American politician and actor who was the 40th President of the United States, from 1981 to 1989. Before his presidency, he was the 33rd Governor of California, from 1967 to 1975, after a career as a Hollywood actor and union leader. Raised in a family in small towns of northern Illinois, Reagan graduated from Eureka College in 1932. After moving to Hollywood in 1937, he became an actor, Reagan was twice elected President of the Screen Actors Guild, the labor union for actors, where he worked to root out Communist influence. In the 1950s, he moved into television and was a speaker at General Electric factories. Having been a lifelong Democrat, his views changed and he became a conservative and in 1962 switched to the Republican Party. In 1964, Reagans speech, A Time for Choosing, in support of Barry Goldwaters foundering presidential campaign, Building a network of supporters, he was elected Governor of California in 1966. Entering the presidency in 1981, Reagan implemented sweeping new political, in his first term he survived an assassination attempt, spurred the War on Drugs, and fought public sector labor. During his re-election bid, Reagan campaigned on the notion that it was Morning in America, foreign affairs dominated his second term, including ending of the Cold War, the bombing of Libya, and the Iran–Contra affair. Publicly describing the Soviet Union as an empire, and during his famous speech at the Brandenburg Gate. Jack, a salesman and storyteller, was the grandson of Irish Catholic immigrants from County Tipperary, Reagan had one older brother, John Neil Reagan, who became an advertising executive. As a boy, Reagans father nicknamed his son Dutch, due to his fat little Dutchman-like appearance and Dutchboy haircut, Reagans family briefly lived in several towns and cities in Illinois, including Monmouth, Galesburg, and Chicago. In 1919, they returned to Tampico and lived above the H. C, Pitney Variety Store until finally settling in Dixon. After his election as president, residing in the upstairs White House private quarters, for the time, Reagan was unusual in his opposition to racial discrimination, and recalled a time in Dixon when the local inn would not allow black people to stay there. Reagan brought them back to his house, where his mother invited them to stay the night and have breakfast the next morning, after the closure of the Pitney Store in late 1920 and the familys move to Dixon, the midwestern small universe had a lasting impression on Reagan. Reagan attended Dixon High School, where he developed interests in acting, sports and his first job was as a lifeguard at the Rock River in Lowell Park in 1927. Over a six-year period, Reagan reportedly performed 77 rescues as a lifeguard and he attended Eureka College, a Disciples-oriented liberal arts school, where he became a member of the Tau Kappa Epsilon fraternity, a cheerleader, and studied economics and sociology. While involved, the Miller Center of Public Affairs described him as an indifferent student and he majored in economics and sociology, and graduated with a C grade
