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Ernest Seyd
Ernest Seyd (March 7, 1830 – May 1, 1881), a German-born British author, banker, and economist, particularly known for his expertise in coinage and foreign exchange, and for his advocacy of bimetallism. Biography Ernest Seyd was born at Elberfeld in Prussia. At an early age he visited the United States, and subsequently went to Paris, and was present during the revolution of 1848. Returning the next year to Germany, he took an active part in the revolutionary movement which resulted in the Frankfurt Parliament and the Frankfurt Constitution. He was afterwards engaged in banking and exchange business in Paris, San Francisco, and London. On the adoption of the gold standard by Germany in 1873, he protested in the strongest manner against the change to a single gold standard, and "foresaw with wonderful prescience the monetary dislocations that have since taken place". Ernest Seyd was also asked by the United States Congress to report on the American Coinage Bill of 1873 then pendi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bimetallism
Bimetallism, also known as the bimetallic standard, is a monetary standard in which the value of the monetary unit is defined as equivalent to certain quantities of two metals, typically gold and silver, creating a fixed rate of exchange between them. For scholarly purposes, "proper" bimetallism is sometimes distinguished as permitting that both gold and silver money are legal tender in unlimited amounts and that gold and silver may be taken to be coined by the government mints in unlimited quantities. This distinguishes it from "limping standard" bimetallism, where both gold and silver are legal tender but only one is freely coined (e.g. the moneys of France, Germany, and the United States after 1873), and from "trade" bimetallism, where both metals are freely coined but only one is legal tender and the other is used as "trade money" (e.g. most moneys in western Europe from the 13th to 18th centuries). Economists also distinguish ''legal'' bimetallism, where the law guarantees ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elberfeld
Elberfeld is a municipal subdivision of the German city of Wuppertal; it was an independent town until 1929. History The first official mentioning of the geographic area on the banks of today's Wupper River as "''elverfelde''" was in a document of 1161. Etymologically, ''elver'' is derived from the old Low German word for "river." (See etymology of the name of the German Elbe River; cf. North Germanic ''älv''.) Therefore, the original meaning of "elverfelde" can be understood as "field on the river." Elverfelde received its town charter in 1610. In 1726, Elias Eller and a pastor, Daniel Schleyermacher, founded a Philadelphian society. They later moved to Ronsdorf in the Duchy of Berg, becoming the Zionites, a fringe sect. In 1826 Friedrich Harkort, a famous German industrialist and politician, had a type of suspension railway built as a trial and ran it on the grounds of what is today the tax office at Elberfeld. In fact the railway, the Schwebebahn Wuppertal, was eventu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prussia
Prussia, , Old Prussian: ''Prūsa'' or ''Prūsija'' was a German state on the southeast coast of the Baltic Sea. It formed the German Empire under Prussian rule when it united the German states in 1871. It was ''de facto'' dissolved by an emergency decree transferring powers of the Prussian government to German Chancellor Franz von Papen in 1932 and ''de jure'' by an Allied decree in 1947. For centuries, the House of Hohenzollern ruled Prussia, expanding its size with the Prussian Army. Prussia, with its capital at Königsberg and then, when it became the Kingdom of Prussia in 1701, Berlin, decisively shaped the history of Germany. In 1871, Prussian Minister-President Otto von Bismarck united most German principalities into the German Empire under his leadership, although this was considered to be a "Lesser Germany" because Austria and Switzerland were not included. In November 1918, the monarchies were abolished and the nobility lost its political power during the Ger ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
French Revolution Of 1848
The French Revolution of 1848 (french: Révolution française de 1848), also known as the February Revolution (), was a brief period of civil unrest in France, in February 1848, that led to the collapse of the July Monarchy and the foundation of the French Second Republic. It sparked the wave of revolutions of 1848. The revolution took place in Paris, and was preceded by the French government's crackdown on the campagne des banquets. Starting on 22 February as a large-scale protest against the government of François Guizot, it later developed into a violent uprising against the monarchy. After intense urban fighting, large crowds managed to take control of the capital, leading to the abdication of King Louis Philippe on 24 February and the subsequent proclamation of the Second Republic. Background Under the Charter of 1814, Louis XVIII ruled France as the head of a constitutional monarchy. Upon Louis XVIII's death, his brother, the Count of Artois, ascended to the throne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Revolutions Of 1848 In The German States
In political science, a revolution (Latin: ''revolutio'', "a turn around") is a fundamental and relatively sudden change in political power and political organization which occurs when the population revolts against the government, typically due to perceived oppression (political, social, economic) or political incompetence. Revolutions have occurred throughout human history and vary widely in terms of methods, duration, and motivating ideology. Their results include major changes in culture, economy, and socio- political institutions, usually in response to perceived overwhelming autocracy or plutocracy. Scholarly debates about what does and does not constitute a revolution center on several issues. Early studies of revolutions primarily analyzed events in European history from a psychological perspective, but more modern examinations include global events and incorporate perspectives from several social sciences, including sociology and political science. Several generatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Frankfurt Parliament
The Frankfurt Parliament (german: Frankfurter Nationalversammlung, literally ''Frankfurt National Assembly'') was the first freely elected parliament for all German states, including the German-populated areas of Austria-Hungary, elected on 1 May 1848 (see German federal election, 1848). The session was held from 18 May 1848 to 31 May 1849, in the Paulskirche at Frankfurt am Main. Its existence was both part of and the result of the "March Revolution" within the states of the German Confederation. After long and controversial debates, the assembly produced the so-called Frankfurt Constitution (''Paulskirchenverfassung'' or St. Paul's Church Constitution, officially the ''Verfassung des Deutschen Reiches'') which proclaimed a German Empire based on the principles of parliamentary democracy. This constitution fulfilled the main demands of the liberal and nationalist movements of the Vormärz and provided a foundation of basic rights, both of which stood in opposition to Metterni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Frankfurt Constitution
The Frankfurt Constitution (german: Frankfurter Reichsverfassung, FRV) or Constitution of St. Paul's Church (''Paulskirchenverfassung''), officially named the Constitution of the German Empire (''Verfassung des Deutschen Reiches'') of 28 March 1849, was an unsuccessful attempt to create a unified German nation state in the successor states of the Holy Roman Empire organised in the German Confederation. Adopted and proclaimed by the Frankfurt Parliament after the Revolutions of 1848, the constitution contained a charter of fundamental rights and a democratic government in the form of a constitutional monarchy. King Frederick William IV of Prussia was designated head of state as "Emperor of the Germans" (''Kaiser der Deutschen''), a role he rejected. The constitution is called by its more common names in order to distinguish it from the Constitution of the German Empire enacted in 1871 and initiated by Otto von Bismarck. Emergence The 1849 Constitution was proclaimed by the Frankf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coinage Act Of 1873
The Coinage Act of 1873 or Mint Act of 1873, was a general revision of laws relating to the Mint of the United States. By ending the right of holders of silver bullion to have it coined into standard silver dollars, while allowing holders of gold to continue to have their bullion made into money, the act created a gold standard by default. It also authorized a Trade dollar, with limited legal tender, intended for export, mainly to Asia, and abolished three small-denomination coins. The act led to controversial results and was denounced by critics as the "Crime of '73". By 1869, the Mint Act of 1837, enacted before the California gold rush or the American Civil War affected the monetary system of the United States, was deemed outdated. Treasury Secretary George Boutwell had Deputy Comptroller of the Currency John Jay Knox draft a revised law, introduced into Congress by Ohio Senator John Sherman. Silver's market price then exceeded the value at which the Mint would purchase the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silver Standard
The silver standard is a monetary system in which the standard economic unit of account is a fixed weight of silver. Silver was far more widespread than gold as the monetary standard worldwide, from the Sumerians 3000 BC until 1873. Following the discovery in the 16th century of large deposits of silver at the Cerro Rico in Potosí, Bolivia, an international silver standard came into existence in conjunction with the Spanish pieces of eight. These silver dollar coins played the role of an international trading currency for nearly four hundred years. The move away from the silver to the gold standard began in the 18th century when Great Britain set the gold guinea’s price in silver higher than international prices on the recommendation of Sir Isaac Newton, attracting gold and putting them on a de facto gold standard. Great Britain formalized the gold standard in 1821 and introduced it to its colonies afterwards. Imperial Germany’s move to the gold standard in 1873 triggered ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bimetallism
Bimetallism, also known as the bimetallic standard, is a monetary standard in which the value of the monetary unit is defined as equivalent to certain quantities of two metals, typically gold and silver, creating a fixed rate of exchange between them. For scholarly purposes, "proper" bimetallism is sometimes distinguished as permitting that both gold and silver money are legal tender in unlimited amounts and that gold and silver may be taken to be coined by the government mints in unlimited quantities. This distinguishes it from "limping standard" bimetallism, where both gold and silver are legal tender but only one is freely coined (e.g. the moneys of France, Germany, and the United States after 1873), and from "trade" bimetallism, where both metals are freely coined but only one is legal tender and the other is used as "trade money" (e.g. most moneys in western Europe from the 13th to 18th centuries). Economists also distinguish ''legal'' bimetallism, where the law guarantees ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Affidavit
An ( ; Medieval Latin for "he has declared under oath") is a written statement voluntarily made by an ''affiant'' or '' deponent'' under an oath or affirmation which is administered by a person who is authorized to do so by law. Such a statement is witnessed as to the authenticity of the affiant's signature by a taker of oaths, such as a notary public or commissioner of oaths. An affidavit is a type of verified statement or showing, or in other words, it contains a verification, which means that it is made under oath on penalty of perjury, and this serves as evidence for its veracity and is required in court proceedings. Definition An affidavit is typically defined as a written declaration or statement that is sworn or affirmed before a person who has authority to administer an oath. There is no general defined form for an affidavit, although for some proceedings an affidavit must satisfy legal or statutory requirements in order to be considered. An affidavit may include, * a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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