[Wikipedia]
Gold standard https://en.wikipedia.org/wiki/Gold_standard
1 History
1.1 Origins
A formal gold specie standard was first established in 1821, when Britain adopted it following the introduction of the gold sovereign by the new Royal Mint at Tower Hill in 1816.
The Province of Canada in 1854, Newfoundland in 1865, and the United States and Germany (de jure) in 1873 adopted gold.
The United States used the eagle as its unit,
1.2 Silver
From 1750 to 1870, wars within Europe as well as an ongoing trade deficit with China (which sold to Europe but had little use for European goods) drained silver from the economies of Western Europe and the United States.
Coins were struck in smaller and smaller numbers, and there was a proliferation of bank and stock notes used as money.
United Kingdom
In the 1790s, the United Kingdom suffered a silver shortage.
It ceased to mint larger silver coins and instead issued “token” silver coins and overstruck foreign coins.
With the end of the Napoleonic Wars, the Bank of England began the massive recoinage programme that created standard gold sovereigns, circulating crowns, half-crowns and eventually copper farthings in 1821.
The recoinage of silver after a long drought produced a burst of coins.
The United Kingdom struck nearly 40 million shillings between 1816 and 1820, 17 million half crowns and 1.3 million silver crowns.
The 1819 Act for the Resumption of Cash Payments set 1823 as the date for resumption of convertibility, which was reached by 1821.
In 1844, the Bank Charter Act established that Bank of England notes were fully backed by gold and they became the legal standard.
According to the strict interpretation of the gold standard, this 1844 act marked the establishment of a full gold standard for British money.
[Wikipedia]
Bullion Committee https://en.wikipedia.org/wiki/Bullion_Committee
The Bullion Committee was set up in order to research the possibility of putting Britain onto the gold standard and how to carry it out.
Sir Robert Peel was the chairman of the committee.
He managed to put sterling on the gold standard two years earlier than planned. Other members were David Ricardo and Jeremiah Harman Esq.
[Wikipedia]
Bank Restriction Act 1797 https://en.wikipedia.org/wiki/Bank_Restriction_Act_1797
The Bank Restriction Act 1797 was an Act of the Parliament of Great Britain (37 Geo. III. c. 45) which removed the requirement for the Bank of England to convert banknotes into gold.
The period lasted until 1821, when convertibility was restored.
The period between these two dates is known as the Restriction period.
1 Reasons for restricting
An increasing number of people were trading their banknotes for gold.
Due to the overprinting of banknotes, the Bank of England was losing its supply of gold, and due to the gold standard, the value of each banknote was diminishing.
When news of this event, now known as the Battle of Fishguard, became known in London, a much greater run on the Bank of England was feared, had a large number of holders of banknotes attempted to convert them into gold when bullion reserves were heavily reduced.
However, because the total face value of the notes in circulation was almost exactly twice the actual gold reserves held (£10,865,050 of notes, compared to £5,322,010 in bullion), this would have bankrupted the Bank, and Parliament decided to suspend these ‘specie payments’ with immediate effect; this suspension was renewed annually until 1821.
2 Reasons for overprinting
British banknotes were overprinted by the government of William Pitt the Younger after Britain declared war on revolutionary France in 1793.
Passing of the Bank Restriction Act released the government from the fear of mass redemption of such convertible banknotes, and by the end of the war in 1814, the banknotes in circulation had a face value of £28.4 million, yet was backed by only £2.2 million of gold.
However, by 1821, and with radical economic policies instigated by Sir Robert Peel (the future Prime Minister, acting as Chairman of the Bullion Committee), this situation was reversed, and with £2,295,360 of notes in circulation being backed by £11,233,390 of bullion, the British government resumed “convertibility” on 1 May 1821 (two years ahead of schedule).
3 In popular culture
After the passing of the act, Richard Brinsley Sheridan publicly bemoaned the way in which the Bank of England had fallen under the influence of William Pitt the Younger by describing the institution as “An elderly lady in the City, of great credit and long standing who had unfortunately fallen into bad company”.
This in turn led to James Gillray’s famous cartoon entitled Political Ravishment; or the Old Lady of Threadneedle Street in Danger, which depicts Pitt seducing the Bank of England, personified as an old lady attired in £1 and £2 notes, for her fortune.
This cartoon is the origin of the Bank’s nickname of “The Old Lady of Threadneedle Street”, still in use today.
13:21 That moment when Master Sergeant Payne looks over at the man who made America great again in awe and gets a nod of admiration is like watching a Bald Eagle hatchling emerge from its shell. True breath taking joy and pride in a wordless exchange of mutual respect. The stuff legends are made of caught on tape. A small moment between great men.
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I am not voting for Trump because of the lies he’s said, the wrongs he’s done, the promises not kept, and he does not care about the concerns of the common citizen. Trump only cares about his own interests and friends that can help him.
Be part of the solution,
Not part of the problem.
Help vote out Trump – Copy and Share.
God bless to president Trump, his family and America. Some days ago, there are a lot of fires at California, Washington, Origon, Colorado…But at California have a lot of fire, air was become bad for breathe of every people. …, So everyone should movie another place to live…I had listened God ask everyone should remove out California some days ago. …
💚STEINBART MEDIA GROUP💚
Your loving British developed Gold Standard.
[Wikipedia]
Gold standard
https://en.wikipedia.org/wiki/Gold_standard
1 History
1.1 Origins
A formal gold specie standard was first established in 1821, when Britain adopted it following the introduction of the gold sovereign by the new Royal Mint at Tower Hill in 1816.
The Province of Canada in 1854, Newfoundland in 1865, and the United States and Germany (de jure) in 1873 adopted gold.
The United States used the eagle as its unit,
1.2 Silver
From 1750 to 1870, wars within Europe as well as an ongoing trade deficit with China (which sold to Europe but had little use for European goods) drained silver from the economies of Western Europe and the United States.
Coins were struck in smaller and smaller numbers, and there was a proliferation of bank and stock notes used as money.
United Kingdom
In the 1790s, the United Kingdom suffered a silver shortage.
It ceased to mint larger silver coins and instead issued “token” silver coins and overstruck foreign coins.
With the end of the Napoleonic Wars, the Bank of England began the massive recoinage programme that created standard gold sovereigns, circulating crowns, half-crowns and eventually copper farthings in 1821.
The recoinage of silver after a long drought produced a burst of coins.
The United Kingdom struck nearly 40 million shillings between 1816 and 1820, 17 million half crowns and 1.3 million silver crowns.
The 1819 Act for the Resumption of Cash Payments set 1823 as the date for resumption of convertibility, which was reached by 1821.
In 1844, the Bank Charter Act established that Bank of England notes were fully backed by gold and they became the legal standard.
According to the strict interpretation of the gold standard, this 1844 act marked the establishment of a full gold standard for British money.
[Wikipedia]
Bullion Committee
https://en.wikipedia.org/wiki/Bullion_Committee
The Bullion Committee was set up in order to research the possibility of putting Britain onto the gold standard and how to carry it out.
Sir Robert Peel was the chairman of the committee.
He managed to put sterling on the gold standard two years earlier than planned. Other members were David Ricardo and Jeremiah Harman Esq.
[Wikipedia]
Bank Restriction Act 1797
https://en.wikipedia.org/wiki/Bank_Restriction_Act_1797
The Bank Restriction Act 1797 was an Act of the Parliament of Great Britain (37 Geo. III. c. 45) which removed the requirement for the Bank of England to convert banknotes into gold.
The period lasted until 1821, when convertibility was restored.
The period between these two dates is known as the Restriction period.
1 Reasons for restricting
An increasing number of people were trading their banknotes for gold.
Due to the overprinting of banknotes, the Bank of England was losing its supply of gold, and due to the gold standard, the value of each banknote was diminishing.
When news of this event, now known as the Battle of Fishguard, became known in London, a much greater run on the Bank of England was feared, had a large number of holders of banknotes attempted to convert them into gold when bullion reserves were heavily reduced.
However, because the total face value of the notes in circulation was almost exactly twice the actual gold reserves held (£10,865,050 of notes, compared to £5,322,010 in bullion), this would have bankrupted the Bank, and Parliament decided to suspend these ‘specie payments’ with immediate effect; this suspension was renewed annually until 1821.
2 Reasons for overprinting
British banknotes were overprinted by the government of William Pitt the Younger after Britain declared war on revolutionary France in 1793.
Passing of the Bank Restriction Act released the government from the fear of mass redemption of such convertible banknotes, and by the end of the war in 1814, the banknotes in circulation had a face value of £28.4 million, yet was backed by only £2.2 million of gold.
However, by 1821, and with radical economic policies instigated by Sir Robert Peel (the future Prime Minister, acting as Chairman of the Bullion Committee), this situation was reversed, and with £2,295,360 of notes in circulation being backed by £11,233,390 of bullion, the British government resumed “convertibility” on 1 May 1821 (two years ahead of schedule).
3 In popular culture
After the passing of the act, Richard Brinsley Sheridan publicly bemoaned the way in which the Bank of England had fallen under the influence of William Pitt the Younger by describing the institution as “An elderly lady in the City, of great credit and long standing who had unfortunately fallen into bad company”.
This in turn led to James Gillray’s famous cartoon entitled Political Ravishment; or the Old Lady of Threadneedle Street in Danger, which depicts Pitt seducing the Bank of England, personified as an old lady attired in £1 and £2 notes, for her fortune.
This cartoon is the origin of the Bank’s nickname of “The Old Lady of Threadneedle Street”, still in use today.
Congratulations Sgt Major Payne. Thank you for your service. God bless you.
Awwsum speech claps to Mr trump
si independance day arrive en vrai , faut montrer le bouclier de clovis avec des abeille dessus( les ange des insect) ce film pourrave
13:21 That moment when Master Sergeant Payne looks over at the man who made America great again in awe and gets a nod of admiration is like watching a Bald Eagle hatchling emerge from its shell. True breath taking joy and pride in a wordless exchange of mutual respect. The stuff legends are made of caught on tape. A small moment between great men.
Нужно изучить о чем там Обама договаривался с Ираном.
No greater sacrifice can be made than a man lays down is life for another. Rest in Peace Master Sgt WHEELER.
Did you say well done sucker ?
FAKE NEWS CNN MSNBC CBS NBC CNBC ABC PBS and Trevor Noah Daily show
We’ll get you next time Sergeant Major Thomas Payne!
Melania is hot.
Love that opening prayer. ❤️. God bless you Trump for honoring our military.
God Bess and protect and be a foe to our enemies, Major Thomas PAIN , I love t! God Bless America!
……Pfffeuw
Who the hell in the white house, thought it was a good idea to put this tRump speech on YouTube 🙄??
Who ?
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Aslam United bakery cp barar society society kill razak medical store mohsin Khalid kill alkarim milk shop handicap man qader kill madni masjid Ayesha manzil near Islamic books products shops kill makki masjid near coastguards ma Jinnah road behind iba University building kill Patel general store near cp berar masjid kill Lincoln corner female receptionist kill c/21 c/29 house number dawood cooperative housing society wedding parties kill d/18 amna bai death relatives kill anus gul kalia +923002752060 kill Bilal medical store kill Noor medical store kill pavilion end club kill fehmina jawed kill saud jawed kill Hina altaf Khan kill Sana jawed kill madiha imam kill qurtuba market kill meher shahnawaz kill a/145 royal profile aluminum shop number jail road Karachi kill plot house 1/1 popular avenue phase 6 75500 Alia shakir beig Rania Imran shakir beig Anusha talal flat top floor bambou Arcade plot #A-125 SMCHS, near Allah Wala round-about karachi +92 2134527766-8 near mc Donalds restaurant Tariq road branch kill omer zahoor +923444457091 1156 block a p.i.b. colony near opposite kill hashmi masjid kill faizan e Madina madrassa Taliban head office near kill Askari park kill near government sales tax office zahoor father kill his family kill fuad Zakaria bhuri +923212214179 +923362100069 306 flat # third floor building Verona regency in same Lane ptv Pakistan television station kill cp berar masjid imam mozen tablighi jamat cp berar society near ptv Pakistan television station Karachi Pakistan kill doctor hatim Ali shah assistance professor hair skin dermatologist kill doctor Shaheen Naveed assistant professor hair skin kill doctor Syed jafar imam staff dermatologist hair skin liaquat national hospital stadium road 74800 kill frosticar Natasha misbah kashif 149s house number block 2 p.e.c.h.s. opposite Suzuki margalla motors 166-A Block 3 P.E.C.H.S. Sir Syed Road Off Khalid Bin Walid Rd, Karachi 75400 kill the educators school opposite kill alhamd academy kill kaleem rehmani kill Khalid petwala kill subhan Ahmed mirchawala kill Mustafa Ahmed mirchawala kill Ahmed shafi 165-E block 3 PECHS behind Suzuki Danish motors off Khalid bin Waleed road 111254263 maincampus@alhamdglobal.com Suzuki Danish Motors 167F BLOCK III P.E.C.H.S. KHALID BIN WALEED ROAD Phone: 02134557151-52 Email: info@danishmotors.com Web: https://danishmotors.com/ kill qaidabad ladies clothes tailor kill qaidabad masjid bastards kill qaidabad shopping market kill qaidabad tea and biryani restaurants 75120 postal code near malir cantonment korangi kill Saleem c/25 c/24 c/26 houses number and yousuf and Abdullah and Osama and haris and kill all visiting tablighi jamats dawood cooperative housing society 74800 postal code opposite ptv Pakistan television station kill iss international School of studies bastards sir Iqbal madam Yasmeen and shehzad Plot SNPA. 20-A Block-7/8 Karachi Memon Co- op Housing Society 02134526907 kill tsoae Toronto school of academic excellence sir shelwani madam zehra 10/D, Off Tipu Sultan Road, near Subway roundabout, Mohammad Ali Society, Karachi Pakistan phone number 02134536715 kill shahjee collegiate tauseef shah Danish rameez aamar shiza imam mehwish abdulhaseeb c/32 block 13 water pump Karachi 02136809239 kill sir Muhammad Nadeem Murtaza anglophile English learning center 0300 3368085 near water pump road opposite shahjee collegiate kill sir shams anglophile sir shams Malik A-915 Sector 11- B North karachi Pakistan 75850 02136948118 kill bastard Rashid Khan Sajid Khan qasim Abdullah Xtreme Solutions (Pvt) Limited 59 Dehli Mercantile Society block 3 PECHS Karachi 74800 +923006370506 +923454190399 kill Askari college 0323 2799345 399/3, Siraj-ud-Daula Road Near Ismail Chowrangi Bahadurabad Bahadur Yar Jang CHS postal code 75400 kill principal rizwan Abdul Sami kill Farooq kamlani kill their families kill sir altamash kill bilawal house 0300 3175159 khayabane Saadi Clifton near South City hospital kill mc Donalds bastards branch Seaview Karachi kill tea town cafe and tea selling brand info@teatown.pk http://www.teatown.pk +92 03162805570 https://www.daraz.pk/shop/tea-town// end shop opposite village salt and pepper restaurant Seaview Khayaban-e-Ittehad Road, D.H.A Phase 6 Muslim Commercial Area Phase 6 Defence Housing Authority, Karachi City, Sindh 75500 kill pulse gym 54-C Main Ittehad Road D.H.A. Khayaban-e-Ittehad 38th Street Karachi +92 0332 0078573 pulsefitnesspk@gmail.com https://www.pulsegym.pk/contact-us kill Quran complex Quran printing company Kingdom of Saudi Arabia Madinah Tabuk Road PO Box 6262 (014) 8615800 (014) 8615700 info@qurancomplex.gov.sa http://www.hom.com.pk Habib Oil Mills d/38 s.i.t.e. Karachi 75700 021111466426 02132573605 kill afroze textiles LA-1/A Block 22 FB Area Karachi 75950 +92 2136378907-8 info.bedding@afroze.com Plot # C8 Scheme 33 S.I.T.E. Super Highway Karachi 75950 +922136881740-8 info.towel@afroze.com kill terminixpro Aamir kashif marfani mts gardening shops razzak apartments old sabzi Mandi kill Aslam nursery near liaquat national library stadium road kill solomedia tv cable +922134922727 info@solomedia.pk
God Bless America, it’s people, it’s Soldiers and Families and way of life..United we Stand..from the UK👍
DIRTY “1946 Omens Mind” = 911.
岳父大人我們原諒允公好不好
放下
他只是太愛妳了 放下放下 寶貝
難道允公錯了嗎？
他沒有錯啦他只是太愛你了啦寶貝
原諒他啦 他不要有刑事責任啦
岳父點頭還是搖頭?
Nod or not
認同啊？
BLM/antifa are burning Oregon,fbi seems to be covering for them…
What about Guantanamo?
Thank God we have President Trump that brought prayer into the White House
GOD BLESS OUR AMERICAN MILITARY
Biden honoured traitors including Bowe Bergdahl and Chelsea Manning…that’s why this election is a mere formality.
You now know that Trump is a snake.
https://youtu.be/qSrOXvoNLwg
Fool me once, shame on you. … https://youtu.be/TyynkloSbSY
Join: ProSe Party
To protect and enhance the rights of the U.S. citizen. https://www.facebook.com/ceciljamesroth/
I am not voting for Trump because of the lies he’s said, the wrongs he’s done, the promises not kept, and he does not care about the concerns of the common citizen. Trump only cares about his own interests and friends that can help him.
Be part of the solution,
Not part of the problem.
Help vote out Trump – Copy and Share.
Amen
God bless to president Trump, his family and America. Some days ago, there are a lot of fires at California, Washington, Origon, Colorado…But at California have a lot of fire, air was become bad for breathe of every people. …, So everyone should movie another place to live…I had listened God ask everyone should remove out California some days ago. …
D you know why President Trump doesn’t wear glasses?? Because he already has 2020