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War Bond
War bonds (sometimes referred to as victory bonds, particularly in propaganda) are Security (finance)#Debt, debt securities issued by a government to finance military operations and other expenditure in times of war without raising taxes to an unpopular level. They are also a means to control inflation by removing money from circulation in a stimulated wartime economy. War bonds are either retail bonds marketed directly to the public or wholesale bonds traded on a stock market. Exhortations to buy war bonds have often been accompanied by appeals to patriotism and conscience. Retail war bonds, like other retail bonds, tend to have a yield which is below that offered by the market and are often made available in a wide range of denominations to make them affordable for all citizens. Before World War I Governments throughout history have needed to borrow money to fight wars. Traditionally they dealt with a small group of rich financiers such as Jakob Fugger and Nathan Mayer Rothsc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consols
Consols (originally short for consolidated annuities, but subsequently taken to mean consolidated stock) were government bond, government debt issues in the form of perpetual bonds, redeemable at the option of the government. The first British consols were issued by the Bank of England in 1751. They have now been fully redeemed. The United States government issued consols from 1877 to 1930, which have likewise been redeemed. History of British consols In 1752 the Chancellor of the Exchequer and Prime Minister Sir Henry Pelham converted all outstanding issues of redeemable government stock into one bond, Consolidated 3.5% Annuities, in order to reduce the Coupon (bond), coupon (interest rate) paid on the government debt. In 1757, the annual interest rate on the stock was reduced to 3%, leaving the stock as consolidated 3% annuities. The coupon rate remained at 3% until 1888. In 1888, the Chancellor of the Exchequer, George Joachim Goschen, converted the consolidated 3% annuities ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consol (bond)
Consols (originally short for consolidated annuities, but subsequently taken to mean consolidated stock) were government debt issues in the form of perpetual bonds, redeemable at the option of the government. The first British consols were issued by the Bank of England in 1751. They have now been fully redeemed. The United States government issued consols from 1877 to 1930, which have likewise been redeemed. History of British consols In 1752 the Chancellor of the Exchequer and Prime Minister Sir Henry Pelham converted all outstanding issues of redeemable government stock into one bond, Consolidated 3.5% Annuities, in order to reduce the coupon (interest rate) paid on the government debt. In 1757, the annual interest rate on the stock was reduced to 3%, leaving the stock as consolidated 3% annuities. The coupon rate remained at 3% until 1888. In 1888, the Chancellor of the Exchequer, George Joachim Goschen, converted the consolidated 3% annuities, along with reduced 3% annuit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Digital Library
The World Digital Library (WDL) is an international digital library operated by UNESCO and the United States Library of Congress. The WDL has stated that its mission is to promote international and intercultural understanding, expand the volume and variety of cultural content on the Internet, provide resources for educators, scholars, and general audiences, and to build capacity in partner institutions to narrow the digital divide within and among countries. It aims to expand non-English and non-western content on the Internet, and contribute to scholarly research. The library intends to make available on the Internet, free of charge and in multilingual format, significant primary materials from cultures around the world, including manuscripts, maps, rare books, musical scores, recordings, films, prints, photographs, architectural drawings, and other significant cultural materials. The WDL opened with 1,236 items. As of early 2018, it lists more than 18,000 items from nearly 200 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ernest Harvey (cashier)
Ernest Harvey may refer to: *Ernest Harvey of the Harvey baronets * Ernest Harvey (cricketer) (1880–1923), Australian cricketer * Ernest Musgrave Harvey, chief cashier of the Bank of England * Ernest Harvey (footballer), English footballer {{hndis, Harvey, Ernest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Gordon Nairne
Sir John Gordon Nairne, 1st Baronet (4 January 1861 – 9 February 1945) was a director of the Bank of England and a BBC governor. Life He was born in Castle Douglas, Kirkcudbrightshire, Scotland. He was the son of Andrew Nairne and his wife Isabella H. Macartney, daughter of Robert Macartney of Auchencairn and Dundrinnan (Dundrennan House), sister of Halliday Macartney. Nairne joined the Bank of England as a cashier in 1893. In the 1901 Census his occupation is indicated as Deputy Chief Cashier of the Bank of England. He was Chief Cashier of the Bank of England 1902-1918. He was made a Baronet, Nairne of Kirkcudbright, on 7 August 1917. In 1918 he was made an Officer of the Légion d'honneur by the President of the French Republic. In 1920 he was awarded the Order of the Sacred Treasure (second class), by the Emperor of Japan. From 1925–1939 he was one of the members of the Commission of Lieutenancy for the City of London. He was a Director of the Bank of England ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Par Value
In finance and accounting, par value means stated value or face value of a financial instrument. Expressions derived from this term include at par (at the par value), over par (over par value) and under par (under par value). Bonds A bond selling at par is priced at 100% of face value. Par can also refer to a bond's original issue value or its value upon redemption at maturity. Stock The par value of stock has no relation to market value and, as a concept, is somewhat archaic. The par value of a share is the value stated in the corporate charter below which shares of that class cannot be sold upon initial offering; the issuing company promises not to issue further shares below par value, so investors can be confident that no one else will receive a more favorable issue price. Thus, par value is the nominal value of a security which is determined by the issuing company to be its minimum price. This was far more important in unregulated equity markets than in the regulated marke ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Walter Leaf
Sir Walter Leaf (26 November 1852, Upper Norwood – 8 March 1927, Torquay) was an English banker, classical scholar, and psychical researcher. He published a benchmark edition of Homer's Iliad and was a director of Westminster Bank for many years, eventually becoming its chairman. He was a co-founder and later president of the International Chamber of Commerce and served as president of the Institute of Bankers, the Hellenic Society, and the Classical Association. He married Charlotte Symonds, the daughter of John Addington Symonds. He was a Cambridge Apostle. Academic career Walter Leaf was born on 26 November 1852. In 1865, he won a scholarship to Winchester College. However, his parents became concerned that living conditions at Winchester would be unacceptable, so they rented a house at Harrow on the edge of London, where their son enrolled in April 1866 at Harrow School as a day pupil. From Harrow, he progressed to Trinity College, Cambridge. He won a scholarship ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold Standard
A gold standard is a backed currency, monetary system in which the standard economics, 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 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 w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currency And Bank Notes Act 1914
A currency is a standardization of money in any form, in use or currency in circulation, circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific environment over time, especially for people in a nation state. Under this definition, the Pound sterling, British Pound sterling (£), euros (€), Japanese yen (¥), and United States dollar, U.S. dollars (US$) are examples of (government-issued) fiat currencies. Currencies may act as store of value, stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance; i.e., legal tender laws may require a particular unit of account for Payment, payments to government agencies. Other definitions of the term ''currency'' appe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Lloyd George
David Lloyd George, 1st Earl Lloyd-George of Dwyfor (17 January 1863 – 26 March 1945) was Prime Minister of the United Kingdom from 1916 to 1922. A Liberal Party (United Kingdom), Liberal Party politician from Wales, he was known for leading the United Kingdom of Great Britain and Ireland, United Kingdom during the First World War, for social-reform policies, for his role in the Paris Peace Conference (1919–1920), Paris Peace Conference, and for negotiating the establishment of the Irish Free State. Born in Chorlton-on-Medlock, Manchester, and raised in Llanystumdwy, Lloyd George gained a reputation as an orator and proponent of a Welsh blend of radical Liberal ideas that included support for Welsh devolution, the Disestablishment of the Church in Wales, disestablishment of the Church of England in Wales, equality for labourers and tenant farmers, and reform of land ownership. He won 1890 Caernarvon Boroughs by-election, an 1890 by-election to become the Member of Parliam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The British Sovereign Will Win Invest In The War Loan To-Day Poster Stamp
''The'' is a grammatical article in English, denoting nouns that are already or about to be mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the most frequently used word in the English language; studies and analyses of texts have found it to account for seven percent of all printed English-language words. It is derived from gendered articles in Old English which combined in Middle English and now has a single form used with nouns of any gender. The word can be used with both singular and plural nouns, and with a noun that starts with any letter. This is different from many other languages, which have different forms of the definite article for different genders or numbers. Pronunciation In most dialects, "the" is pronounced as (with the voiced dental fricative followed by a schwa) when followed by a consonant sound, and as (homophone of the archaic pronoun ''thee' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
