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Great Recoinage Of 1816
The Great Recoinage of 1816 was an attempt by the government of the United Kingdom of Great Britain and Ireland to re-stabilise its currency, the pound sterling, after the economic difficulties brought by the French Revolutionary Wars and the Napoleonic Wars. Background The French Revolutionary Wars (1792–1802) and the Napoleonic Wars (1803–1815) led to financial instability in Britain. This was due to direct military and economic warfare against France as well as Britain's financing of a series of coalitions opposed to the French Revolutionary and Napoleonic regimes. In exchange for large cash subsidies from Britain, nations such as Austria, Prussia and Russia, with armies larger than Britain's, were paid to fight against France. The economic conflicts of that era (such as Napoleon's Continental System and Britain's retaliatory measures against it) especially disrupted trade and the availability of markets in Europe for the products of Britain's growing mercantile and colon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Half Crown (British Coin)
The British half crown was a denomination of sterling coinage worth of one pound, or two shillings and six pence (abbreviated "2/6", familiarly "two and six"), or 30 (old) pence. The half crown was first issued in 1549, in the reign of Edward VI. No half crowns were issued in the reign of Mary, but from the reign of Elizabeth I half crowns were issued in every reign except that of Edward VIII, until the coins were discontinued in 1970. The half crown was demonetised (ahead of other pre-decimal coins) on 1 January 1970, the year before the United Kingdom adopted decimal currency on Decimal Day. During the English Interregnum of 1649–1660, a republican half crown was issued, bearing the arms of the Commonwealth of England, despite monarchist associations of the coin's name. When Oliver Cromwell was made Lord Protector of England, half crowns were issued bearing his portrait depicting him wearing a laurel wreath in the manner of a Roman Emperor. The half crown did not displ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1816 In Economics
This year was known as the ''Year Without a Summer'', because of low temperatures in the Northern Hemisphere, possibly the result of the Mount Tambora volcanic eruption in Indonesia in 1815, causing severe global cooling, catastrophic in some locations. Events January–March * December 25 1815–January 6 – Tsar Alexander I of Russia signs an order, expelling the Jesuits from St. Petersburg and Moscow. * January 9 – Sir Humphry Davy's Davy lamp is first tested underground as a coal mining safety lamp, at Hebburn Colliery in northeast England. * January 17 – Fire nearly destroys the city of St. John's, Newfoundland. * February 10 – Friedrich Karl Ludwig, Duke of Schleswig-Holstein-Sonderburg-Beck, dies and is succeeded by Friedrich Wilhelm, his son and founder of the House of Glücksburg. * February 20 – Gioachino Rossini's opera buffa ''The Barber of Seville'' premières at the Teatro Argentina in Rome. * March 1 – The Gorkha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1816 In England
This year was known as the ''Year Without a Summer'', because of low temperatures in the Northern Hemisphere, possibly the result of the Mount Tambora volcanic eruption in Indonesia in 1815, causing severe global cooling, catastrophic in some locations. Events January–March * December 25 1815–January 6 – Tsar Alexander I of Russia signs an order, expelling the Jesuits from St. Petersburg and Moscow. * January 9 – Sir Humphry Davy's Davy lamp is first tested underground as a coal mining safety lamp, at Hebburn Colliery in northeast England. * January 17 – Fire nearly destroys the city of St. John's, Newfoundland. * February 10 – Friedrich Karl Ludwig, Duke of Schleswig-Holstein-Sonderburg-Beck, dies and is succeeded by Friedrich Wilhelm, his son and founder of the House of Glücksburg. * February 20 – Gioachino Rossini's opera buffa ''The Barber of Seville'' premières at the Teatro Argentina in Rome. * March 1 – The Gorkha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of The United Kingdom
The economic history of the United Kingdom relates the economic development in the British state from the absorption of Wales into the Kingdom of England after 1535 to the modern United Kingdom of Great Britain and Northern Ireland of the early 21st century. Scotland, England, and Wales shared a monarch from 1601 but their economies were run separately until they were unified in the 1707 Act of Union. Ireland was incorporated in the United Kingdom economy between 1800 and 1922; from 1922 the Irish Free State (the modern Republic of Ireland) became independent and set its own economic policy. Great Britain, and England in particular, became one of the most prosperous economic regions in the world between the late 1600s and early 1800s as a result of being the birthplace of the industrial revolution that began in the mid-eighteenth century. The developments brought by industrialization resulted in Britain becoming the premier European and global economic, political, and military ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of British Coinage
History (derived ) is the systematic study and the documentation of the human activity. The time period of event before the invention of writing systems is considered prehistory. "History" is an umbrella term comprising past events as well as the memory, discovery, collection, organization, presentation, and interpretation of these events. Historians seek knowledge of the past using historical sources such as written documents, oral accounts, art and material artifacts, and ecological markers. History is not complete and still has debatable mysteries. History is also an academic discipline which uses narrative to describe, examine, question, and analyze past events, and investigate their patterns of cause and effect. Historians often debate which narrative best explains an event, as well as the significance of different causes and effects. Historians also debate the nature of history as an end in itself, as well as its usefulness to give perspective on the problems of the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coin Act 1816
The Coinage Act 1816 (56 Geo. III c.68), also known as Liverpool's Act, defined the value of the pound sterling relative to gold. One troy pound of standard (22- carat) gold was defined as equivalent to £46 14''s'' 6''d''., i.e. , the guinea having been fixed in December 1717 at exactly. According to its preamble, the purposes of the Act were to: * prohibit the use of silver coins (which would now be of reduced weight, rather than per troy pound), for transactions larger than 40''s'' * establish a single 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 l ... for transactions of all sizes. See also * Great Recoinage of 1816 References External links Text as originally enactedThe Royal Mint - official websiteThe Royal Mint - official blog United Kingdom Act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sterling Silver
Sterling silver is an alloy of silver containing 92.5% by weight of silver and 7.5% by weight of other metals, usually copper. The sterling silver standard has a minimum millesimal fineness of 925. ''Fine silver'', which is 99.9% pure silver, is relatively soft, so silver is usually alloyed with copper to increase its hardness and strength. Sterling silver is prone to tarnishing, and elements other than copper can be used in alloys to reduce tarnishing, as well as casting porosity and firescale. Such elements include germanium, zinc, platinum, silicon, and boron. Recent examples of these alloys include ''argentium'', ''sterlium'' and ''silvadium''. Etymology One of the earliest attestations of the term is in Old French form , in a charter of the abbey of Les Préaux, dating to either 1085 or 1104. The English chronicler Orderic Vitalis (1075 – 1142) uses the Latin forms and . The word in origin refers to the newly introduced Norman silver penny. According to the Oxford Eng ... [...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] |
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] |
Troy Pound
Troy weight is a system of units of mass that originated in 15th-century England, and is primarily used in the precious metals industry. The troy weight units are the grain, the pennyweight (24 grains), the troy ounce (20 pennyweights), and the troy pound (12 troy ounces). The troy grain is equal to the grain unit of the avoirdupois system, but the troy ounce is heavier than the avoirdupois ounce, and the troy pound is lighter than the avoirdupois pound. One troy ounce (oz t) equals exactly 31.1034768 grams. Etymology Troy weight probably takes its name from the French market town of Troyes where English merchants traded at least as early as the early 9th century. The name ''troy'' is first attested in 1390, describing the weight of a platter, in an account of the travels in Europe of the Earl of Derby. Charles Moore Watson (1844–1916) proposes an alternative etymology: ''The Assize of Weights and Measures'' (also known as ), one of the statutes of uncertain date from the re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George III
George III (George William Frederick; 4 June 173829 January 1820) was King of Great Britain and of Ireland from 25 October 1760 until the union of the two kingdoms on 1 January 1801, after which he was King of the United Kingdom of Great Britain and Ireland until his death in 1820. He was the longest-lived and longest-reigning king in British history. He was concurrently Duke and Prince-elector of Brunswick-Lüneburg ("Hanover") in the Holy Roman Empire before becoming King of Hanover on 12 October 1814. He was a monarch of the House of Hanover but, unlike his two predecessors, he was born in Great Britain, spoke English as his first language and never visited Hanover. George's life and reign were marked by a series of military conflicts involving his kingdoms, much of the rest of Europe, and places farther afield in Africa, the Americas and Asia. Early in his reign, Great Britain defeated France in the Seven Years' War, becoming the dominant European power in North America ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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