The pastoral and agricultural industries have been hampered by fluctuations in the value of the currency, farm products being sold at a gold value for the equivalent in paper, while labourers are paid in currency.
The constant fluctuations in the value of the currency, then much depreciated, intensified the distress and complicated the situation.
30, 1905) Unpaid bills, $3,332,594, Paper £8 22,950 The paper currency forms an important part of the internal debt, and has been a fruitful source of trouble to the country.
Few countries have suffered more from a depreciated currency than Argentina.
As on previous occasions, the great depreciation in the value of the currency has led to a repudiation of part of its nominal value.
On the 18th of January 1906 the currency in circulation amounted to $502,420,485, which is more than $95 per capita.
Currency.The lira (plural lire) of 100 centesimi (centimes) is equal in value to the French franc. The total coinage (exclusive of Eritrean currency) from the 1st of January 1862 to the end of 1907 was 1,104,667,116 lire (exclusive of recoinage), divided as follows: gold, 427,516,970 lire; silver, 570,097,025 lire; nickel, 23,417,000 lire; bronze, 83,636,121 lire.
The forced paper currency, instituted in 1866, was abolished in 1881, in which year were dissolved the Union of Banks of Issue created in 1874 to furnish to the state treasury a milliard of lire in notes, guaranteed collectively by the banks.
1 These ceased to have legal currency at the end of igoi; they were notes of x and 2 lire.
These notes are of 50, 100, 500 and 1000 lire; while the state issues notes for 5, 10 and 25 lire, the currency of these at the end of October 1906 being 17,546,967; with a total guaraotee of 15,636,000 held against them.
Rates of exchange, or, in other words the gold premium, favored Italy during the yearr immediately following the abolition of the forced currency in 1881
He therefore proposed to mak over the treasury service to the state banks, to increase th~ forced currency, to raise the stamp and registration duties and to impose a new tax on textile fabrics.
Intimately bound up with the forced currency, the railway conventions and public works was the financial question in general.
Makonnen further concluded with the Italian premier, Crispi, a convention whereby Italy recognized Menelek as emperor of Ethiopia, Menelek recognized the Italian colony, and arranged for a special Italo-Abyssinian currency and for a loan.
According to the terms of a contract; for "legal tender," the currency which can legally be offered and must be accepted in payment, see Payment.
The British currency has been introduced, and in 1897-1898, Rs.
He surrendered all his offices and all his preferments except the archbishopric of York, receiving in return a pension of 1000 marks (equal to six or seven thousand pounds a year in modern currency) from the bishopric of Winchester, and retired to his see, which he had never before visited.
We cannot suppose that the policy of the Merchant Adventurers' Company had nothing to do with the woollen industry; that the export trade in woollen cloth was quite independent of the foreign exchanges and international trade relations in those times; that the effect on wages of the state of the currency, the influx of new silver, the character of the harvests, and many other influences can be conveniently ignored.
The rulers of this powerful house, whose silver dirhems had an extensive currency during the 10th century all over the N.
Its affairs are administered by a governor-general, who is also commander-in-chief of the forces, by a bureau of civil government, and by three prefectural governors, below whom are the heads of twenty territorial divisions called cho; its finances are not included in the general budget of the Japanese empire; it is garrisoned by a mixed brigade taken from the home divisions; and its currency is on a silver basis.
Camden gave currency to the derivation of the word from the combination of the names Thame and Isis.
He never took orders, but acted continually as the representative of the chapter under harassing conditions, administrative and political; he was besides commissary of the diocese of Ermeland; his medical skill, always at the service of the poor, was frequently in demand by the rich; and he laid a scheme for the reform of the currency before the Diet of Graudenz in 1522.
His treatise De monetae cudendae ratione, 1526 (first printed in 1816), written by order of King Sigismund I., is an exposition of the principles on which it was proposed to reform the currency of the Prussian provinces of Poland.
His pension was continued by the National Assembly, and he was partially indemnified for the depreciation of the currency by remunerative appointments.
Formerly import duties were payable in currency, but in 1899 it was decided to collect 10% of them in gold to provide the government with specie for its foreign remittances.
One is to hyperinflate currency, which is a massive transfer of wealth from creditors to debtors.
As currency is inflated, prices rise.
When that happens, refusal to accept the currency is swiftly outlawed and punished harshly.
Now the Zimbabwean dollar has undergone four re-denominations (the process of shaving zeros off the currency to make a more manageable new currency.
As long as these states were to share a currency, a military, provide for interstate trade, and have a single foreign policy, they could retain the economic advantages of being a large nation while maximizing individual liberty and self-determination.