British Currency In Oceania
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British Currency In Oceania
Sterling was the currency of many, but not all parts of the British Empire. This article looks at the history of sterling in the Australia, New Zealand, and Pacific region. History The British victory at the Battle of Waterloo in 1815 heralded the beginning of a new world order in which Britain would be the supreme world power for the next one hundred years. At the time of Waterloo, the British Empire consisted of the New World territories in the West Indies and North America which had been retained following the loss of the Thirteen Colonies. In addition to this, there was the penal colony of New South Wales, the Rock of Gibraltar at the entrance to the Mediterranean Sea, and the territories controlled by the British East India Company. Victory in the Napoleonic Wars brought spoils to Britain which added more territories such as Malta, British Guiana, and Mauritius to the empire. It was the beginning of a golden era for Britain, and the new Royal Mint at Tower Hill coined a n ...
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Pound Sterling
Sterling (abbreviation: stg; Other spelling styles, such as STG and Stg, are also seen. ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound ( sign: £) is the main unit of sterling, and the word "pound" is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling. Sterling is the world's oldest currency that is still in use and that has been in continuous use since its inception. It is currently the fourth most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen. Together with those three currencies and Renminbi, it forms the basket of currencies which calculate the value of IMF special drawing rights. As of mid-2021, sterling is also the fourth most-held reserve currency in global reserves. The Bank of England is the central bank for sterling, issuing its own banknotes, and ...
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British Guiana
British Guiana was a British colony, part of the mainland British West Indies, which resides on the northern coast of South America. Since 1966 it has been known as the independent nation of Guyana. The first European to encounter Guiana was Sir Walter Raleigh, an English explorer. The Dutch were the first Europeans to settle there, starting in the early 17th century, when they founded the colonies of Essequibo and Berbice, adding Demerara in the mid-18th century. In 1796, Great Britain took over these three colonies during hostilities with the French, who had occupied the Netherlands. Britain returned control to the Batavian Republic in 1802 but captured the colonies a year later during the Napoleonic Wars. The colonies were officially ceded to the United Kingdom in 1815 and consolidated into a single colony in 1831. The colony's capital was at Georgetown (known as Stabroek prior to 1812). The economy has become more diversified since the late 19th century but has relied on r ...
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British West Indies
The British West Indies (BWI) were colonized British territories in the West Indies: Anguilla, the Cayman Islands, Turks and Caicos Islands, Montserrat, the British Virgin Islands, Antigua and Barbuda, The Bahamas, Barbados, Dominica, Grenada, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, British Guiana (now Guyana) and Trinidad and Tobago. Other territories include Bermuda, and the former British Honduras (now Belize). The colonies were also at the center of the transatlantic slave trade, around 2.3 million slaves were brought to the British Caribbean. Before the decolonisation period in the later 1950s and 1960s the term was used to include all British colonies in the region as part of the British Empire.
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British North American Colonies
The British colonization of the Americas was the history of establishment of control, settlement, and colonization of the continents of the Americas by England, Scotland and, after 1707, Great Britain. Colonization efforts began in the late 16th century with failed attempts by England to establish permanent colonies in the North. The first permanent English colony was established in Jamestown, Virginia in 1607. Approximately 30,000 Algonquian peoples lived in the region at the time. Over the next several centuries more colonies were established in North America, Central America, South America, and the Caribbean. Though most British colonies in the Americas eventually gained independence, some colonies have opted to remain under Britain's jurisdiction as British Overseas Territories. The first documented settlement of Europeans in the Americas was established by Norse people led by Leif Erikson around 1000 AD in what is now Newfoundland, called Vinland by the Norse. Later E ...
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Spain
, image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = ''Plus ultra'' (Latin)(English: "Further Beyond") , national_anthem = (English: "Royal March") , image_map = , map_caption = , image_map2 = , capital = Madrid , coordinates = , largest_city = Madrid , languages_type = Official language , languages = Spanish language, Spanish , ethnic_groups = , ethnic_groups_year = , ethnic_groups_ref = , religion = , religion_ref = , religion_year = 2020 , demonym = , government_type = Unitary state, Unitary Parliamentary system, parliamentary constitutional monarchy , leader_title1 = Monarchy of Spain, Monarch , leader_name1 = Felipe VI , leader_title2 = Prime Minister of Spain ...
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Gold Standard
A gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. The gold standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the late 1920s to 1932 as well as from 1944 until 1971 when the United States unilaterally terminated convertibility of the US dollar to gold, effectively ending the Bretton Woods system. Many states nonetheless hold substantial gold reserves. Historically, the silver standard and bimetallism have been more common than the gold standard. The shift to an international monetary system based on a gold standard reflected accident, network externalities, and path dependence. Great Britain accidentally adopted a ''de facto'' gold standard in 1717 when Sir Isaac Newton, then-master of the Royal Mint, set the exchange rate of silver to gold too low, thus causing silver coins to go out of circulation. As Great Britain became the world's leading financ ...
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Lima
Lima ( ; ), originally founded as Ciudad de Los Reyes (City of The Kings) is the capital and the largest city of Peru. It is located in the valleys of the Chillón River, Chillón, Rímac River, Rímac and Lurín Rivers, in the desert zone of the central coastal part of the country, overlooking the Pacific Ocean. Together with the seaside city of Callao, it forms a contiguous urban area known as the Lima Metropolitan Area. With a population of more than 9.7 million in its urban area and more than 10.7 million in its metropolitan area, Lima is one of the largest cities in the Americas. Lima was named by natives in the agricultural region known by native Peruvians as ''Limaq''. It became the capital and most important city in the Viceroyalty of Peru. Following the Peruvian War of Independence, it became the capital of the Republic of Peru (República del Perú). Around one-third of the national population now lives in its Lima Metropolitan Area, metropolitan area. The city of Li ...
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Mexico
Mexico (Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatemala, Belize, and the Caribbean Sea; and to the east by the Gulf of Mexico. Mexico covers ,Mexico
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making it the world's 13th-largest country by are ...
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Potosí
Potosí, known as Villa Imperial de Potosí in the colonial period, is the capital city and a municipality of the Department of Potosí in Bolivia. It is one of the highest cities in the world at a nominal . For centuries, it was the location of the Spanish colonial silver mint. A considerable amount of the city's colonial architecture has been preserved in the historic center of the city, which - along with the globally important Cerro Rico de Potosí - are part of a designated UNESCO World Heritage Site. Potosí lies at the foot of the ''Cerro de Potosí'' —sometimes referred to as the ''Cerro Rico'' ("rich mountain")— a mountain popularly conceived of as being "made of" silver ore that dominates the city. The Cerro Rico is the reason for Potosí's historical importance since it was the major supply of silver for the Spanish Empire until Guanajuato in Mexico surpassed it in the 18th century. The silver was taken by llama and mule train to the Pacific coast, shipped north ...
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Spanish Dollar
The Spanish dollar, also known as the piece of eight ( es, Real de a ocho, , , or ), is a silver coin of approximately diameter worth eight Spanish reales. It was minted in the Spanish Empire following a monetary reform in 1497 with content 25.563 g = 0.822 oz t fine silver. It was widely used as the first world currency, international currency because of its uniformity in standard and milling characteristics. Some countries countermarked the Spanish dollar so it could be used as their local currency. Because the Spanish dollar was widely used in Europe, the Americas, and the Far East, it became the first world currency by the late 18th century. The Spanish dollar was the coin upon which the original United States dollar was based (at 0.7735 oz t = 24.0566 g), and it remained legal tender in the United States until the Coinage Act of 1857. Many other currencies around the world, such as the Japanese yen and the Yuan (currency), Chinese yuan, were initially based on the Span ...
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Spanish Empire
The Spanish Empire ( es, link=no, Imperio español), also known as the Hispanic Monarchy ( es, link=no, Monarquía Hispánica) or the Catholic Monarchy ( es, link=no, Monarquía Católica) was a colonial empire governed by Spain and its predecessor states between 1492 and 1976. One of the largest empires in history, it was, in conjunction with the Portuguese Empire, the first to usher the European Age of Discovery and achieve a global scale, controlling vast portions of the Americas, territories in Western Europe], Africa, and various islands in Spanish East Indies, Asia and Oceania. It was one of the most powerful empires of the early modern period, becoming the first empire known as "the empire on which the sun never sets", and reached its maximum extent in the 18th century. An important element in the formation of Spain's empire was the dynastic union between Isabella I of Castile and Ferdinand II of Aragon in 1469, known as the Catholic Monarchs, which in ...
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Gold Sovereign
The sovereign is a British gold coin with a nominal value of one pound sterling (£1) and contains 0.2354 troy oz of pure gold. Struck since 1817, it was originally a circulating coin that was accepted in Britain and elsewhere in the world; it is now a bullion coin and is sometimes mounted in jewellery. In addition, circulation strikes and proof examples are often collected for their numismatic value. In most recent years, it has borne the design of Saint George and the Dragon on the reverse; the initials () of the designer, Benedetto Pistrucci, are visible to the right of the date. The coin was named after the English gold sovereign, which was last minted about 1603, and originated as part of the Great Recoinage of 1816. Many in Parliament believed a one-pound coin should be issued rather than the 21-shilling guinea that was struck until that time. The Master of the Mint, William Wellesley Pole had Pistrucci design the new coin; his depiction was also used for other gol ...
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