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Tiercering
The Tiercering (from the French word ''tierce'', meaning a third) refers to a historical event in the Netherlands on July 9, 1810, when Emperor Napoleon imposed a reduction of interest to one third of the norm on Dutch government bonds. Because of economic problems and general war conditions, the Kingdom of Holland, which had just been annexed by France, was receiving less income than it was paying out in interest, and therefore the Treasury could no longer bear to pay the interest rates on perpetual bonds. Napoleon determined that only one third of the actual interest due would be paid to investors. In the previous years 1808 and 1809, the government had defaulted on the bonds altogether and no interest at all had been paid.Page 51The strictures of inheritance: the Dutch economy in the nineteenth century by Jan. Luiten van Zanden and Arthur van Riel, translated by Ian Cressie, Princeton Press, 2004, The tiercering was a logical solution to an ever-increasing problem with national ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Emperor Napoleon
Napoleon Bonaparte ; it, Napoleone Bonaparte, ; co, Napulione Buonaparte. (born Napoleone Buonaparte; 15 August 1769 – 5 May 1821), later known by his regnal name Napoleon I, was a French military commander and political leader who rose to prominence during the French Revolution and led successful campaigns during the Revolutionary Wars. He was the ''de facto'' leader of the French Republic as First Consul from 1799 to 1804, then Emperor of the French from 1804 until 1814 and again in 1815. Napoleon's political and cultural legacy endures to this day, as a highly celebrated and controversial leader. He initiated many liberal reforms that have persisted in society, and is considered one of the greatest military commanders in history. His wars and campaigns are studied by militaries all over the world. Between three and six million civilians and soldiers perished in what became known as the Napoleonic Wars. Napoleon was born on the island of Corsica, not long af ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Bond
A government bond or sovereign bond is a form of bond issued by a government to support public spending. It generally includes a commitment to pay periodic interest, called coupon payments'','' and to repay the face value on the maturity date. For example, a bondholder invests $20,000, called face value or principal, into a 10-year government bond with a 10% annual coupon; the government would pay the bondholder 10% interest each year and repay the $20,000 original face value at the date of maturity (i.e. after 10 years). Government bonds can be denominated in a foreign currency or the government's domestic currency. Countries with less stable economies tend to denominate their bonds in the currency of a country with a more stable economy (i.e. a hard currency). When governments with less stable economies issue bonds, there is a possibility they will be unable to repay bondholders, resulting in a default. All bonds carry a default risk. International credit rating agencies p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kingdom Of Holland
The Kingdom of Holland ( nl, Holland (contemporary), (modern); french: Royaume de Hollande) was created by Napoleon Bonaparte, overthrowing the Batavian Republic in March 1806 in order to better control the Netherlands. Since becoming Emperor in 1804, Napoleon sought to extirpate republican tendencies in territories France controlled, and placed his third brother, Louis Bonaparte, on the throne of the puppet kingdom.Jonathan Israel, ''The Dutch Republic: Its Rise, Greatness, and Fall 1477-1806''. Oxford: Oxford University Press 1995, 1128. The name of the leading province, Holland, now designated the whole country. In 1807, East Frisia and Jever were added to the kingdom. In 1809, after the Walcheren Campaign, Holland had to surrender all territories south of the river Rhine to France. Also in 1809, Dutch forces fighting on the French side participated in defeating the anti-Bonapartist German rebellion led by Ferdinand von Schill, at the battle of Stralsund. King Louis did ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William I Of The Netherlands
William I (Willem Frederik, Prince of Orange-Nassau; 24 August 1772 – 12 December 1843) was a Prince of Orange, the King of the Netherlands and Grand Duke of Luxembourg. He was the son of the last Stadtholder of the Dutch Republic, who went into exile to London in 1795 because of the Batavian Revolution. As compensation for the loss of all his father's possessions in the Low Countries, an agreement was concluded between France and Prussia in which William was appointed ruler of the newly created Principality of Nassau-Orange-Fulda in 1803; this was however short-lived and in 1806 he was deposed by Napoleon. With the death of his father in 1806, he became Prince of Orange and ruler of the Principality of Orange-Nassau, which he also lost the same year after the dissolution of the Holy Roman Empire and subsequent creation of the Confederation of the Rhine at the behest of Napoleon. In 1813, when Napoleon was defeated at the Battle of Leipzig, the Orange-Nassau territories ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Amortizing Loan
In banking and finance, an amortizing loan is a loan where the principal of the loan is paid down over the life of the loan (that is, amortized) according to an amortization schedule, typically through equal payments. Similarly, an amortizing bond is a bond that repays part of the principal ( face value) along with the coupon payments. Compare with a sinking fund, which amortizes the total debt outstanding by repurchasing some bonds. Each payment to the lender will consist of a portion of interest and a portion of principal. Mortgage loans are typically amortizing loans. The calculations for an amortizing loan are those of an annuity using the time value of money formulas and can be done using an amortization calculator. An amortizing loan should be contrasted with a bullet loan, where a large portion of the loan will be paid at the final maturity date instead of being paid down gradually over the loan's life. An accumulated amortization loan represents the amount of amortizat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of The Netherlands
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. How ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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