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Pounds Scots
The pound ( Modern and Middle Scots: ''Pund'') was the currency of Scotland prior to the 1707 Treaty of Union between the Kingdom of Scotland and the Kingdom of England, which created the Kingdom of Great Britain. It was introduced by David I, in the 12th century, on the Carolingian monetary system of a pound divided into 20 shillings, each of 12 pence. The Scottish currency was later devalued relative to sterling by debasement of its coinage. By the time of James III, one pound Scots was valued at five shillings sterling. Silver coins were issued denominated in merk, worth 13s.4d. Scots (two-thirds of a pound Scots). When James VI became King James I of England in 1603, the coinage was reformed to closely match sterling coin, with £12 Scots equal to £1 sterling. No gold coinage was issued from 1638 to 1700, but new silver coinage was issued from 1664 to 1707. With the Acts of Union 1707, the pound Scots was replaced by sterling coin at the rate of 12:1 (£1 Sco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sword And Sceptre
A sword is an edged, bladed weapon intended for manual cutting or thrusting. Its blade, longer than a knife or dagger, is attached to a hilt and can be straight or curved. A thrusting sword tends to have a straighter blade with a pointed tip. A slashing sword is more likely to be curved and to have a sharpened cutting edge on one or both sides of the blade. Many swords are designed for both thrusting and slashing. The precise definition of a sword varies by historical epoch and geographic region. Historically, the sword developed in the Bronze Age, evolving from the dagger; the earliest specimens date to about 1600 BC. The later Iron Age sword remained fairly short and without a crossguard. The spatha, as it developed in the Late Roman army, became the predecessor of the European sword of the Middle Ages, at first adopted as the Migration Period sword, and only in the High Middle Ages, developed into the classical arming sword with crossguard. The word ''sword'' continues t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pound (currency)
Pound is a name of various units of currency. It is used in some countries today and previously was used in many others. The English word "pound" derives from the Latin language, Latin expression , "a pound by weight", in which means 'scale' or 'balance' and means 'pound' or 'weight'. The currency's Pound sign, symbol is £, a stylised form of the blackletter 'L' (\mathfrak) (from ), crossed to indicate abbreviation. Pound sterling#History (600 to 1945), The term was adopted in England from the weight of silver used to make 240 pennies, and eventually spread to British colonies all over the world. Although silver penny mintage began seven centuries earlier, the first pound coin was minted under Henry VII of England, Henry VII in 1489. Countries and territories currently using currency units named "pound" Historical currencies * Australian pound (until 1966, replaced by the Australian dollar). The Australian pound was also used in the Gilbert and Ellice Islands, Nauru, New H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Bank Of Scotland
The Royal Bank of Scotland Public Limited Company () is a major retail banking, retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group, together with NatWest and Ulster Bank. The Royal Bank of Scotland has around 700 branches, mainly in Scotland, though there are branches in many larger towns and cities throughout England and Wales. The bank is completely separate from the fellow Edinburgh-based bank, the Bank of Scotland, which pre-dates the Royal Bank by 32 years. The Royal Bank of Scotland was established to provide a bank with strong House of Hanover, Hanoverian and Whigs (British political party), Whig ties. Following ringfencing of the Group's core domestic business, the bank became a direct subsidiary of NatWest Holdings in 2019. NatWest Markets comprises the Group's investment banking arm. To give it legal form, the former RBS entity was renamed NatWest Markets in 2018; at the same time Adam and Company (which held a separa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clearing (finance)
In banking and finance, clearing refers to all activities from the time a commitment is made for a transaction until it is settled. This process turns the promise of payment (for example, in the form of a cheque or electronic payment request) into the actual movement of money from one account to another. Clearing houses were formed to facilitate such transactions among banks. Description In trading, clearing is necessary because the speed of trades is much faster than the cycle time for completing the underlying transaction. It involves the management of post-trading, pre-settlement credit exposures to ensure that trades are settled in accordance with market rules, even if a buyer or seller should become insolvent prior to settlement. Processes included in clearing are reporting/monitoring, risk margining, netting of trades to single positions, tax handling, and failure handling. Systemically important payment systems (SIPS) are payment systems which have the characteristic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unit Of Account
In economics, unit of account is one of the functions of money. A unit of account is a standard numerical monetary unit of measurement of the market value of goods, services, and other transactions. Also known as a "measure" or "standard" of relative worth and deferred payment, a unit of account is a necessary prerequisite for the formulation of commercial agreements that involve debt. Money acts as a standard measure and a common denomination of trade. It is thus a basis for quoting and bargaining of prices. It is necessary for developing efficient accounting systems. Economics Unit of account in economics allows a somewhat meaningful interpretation of prices, costs, and profits, so that an entity can monitor its own performance. It allows shareholders to make sense of its past performance and have an idea of its future profitability. The use of money, as a relatively stable unit of measure, can tend to drive market economies toward efficiency. Historically, prices were of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Penny (English Coin)
The English penny (plural "pence"), originally a coin of pure silver, was introduced by King Offa of Mercia. These coins were similar in size and weight to the continental ''denier (coin), deniers'' of the period and to the Anglo-Saxon sceats which had preceded it. Throughout the period of the Kingdom of England, from its beginnings in the 9th century, the penny was produced in silver. Pennies of the same nominal value, of a pound sterling, were in circulation continuously until the creation of the Kingdom of Great Britain in 1707. Etymology The name "penny" comes from the Old English ''pennige'' (), sharing the same root as the German language, German ''Pfennig''. Its abbreviation d. comes from the Roman ''denarius'' and was used until Decimal Day, decimalisation in 1971. Idioms Due to their ubiquity pennies have accumulated a great number of idioms to their name usually recognizing them for their commonality and minuscule value. These might include: *cut (one) off with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Acts Of Union 1707
The Acts of Union refer to two acts of Parliament, one by the Parliament of Scotland in March 1707, followed shortly thereafter by an equivalent act of the Parliament of England. They put into effect the international Treaty of Union agreed on 22 July 1706, which politically joined the Kingdom of England and Kingdom of Scotland into a single "political state" named Kingdom of Great Britain, Great Britain, with Anne, Queen of Great Britain, Queen Anne as its sovereign. The English and Scottish acts of ratification took effect on 1 May 1707, creating the new kingdom, with Parliament of Great Britain, its parliament based in the Palace of Westminster. The two countries had shared a monarch since the "personal" Union of the Crowns in 1603, when James VI of Scotland inherited the English throne from his cousin Elizabeth I to become (in addition) 'James I of England', styled James VI and I. Attempts had been made to try to unite the two separate countries, in 1606, 1667, and in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coins Of The Pound Sterling
The standard circulating coinage of the United Kingdom, British Crown Dependencies and British Overseas Territories is denominated in pennies and pounds sterling ( symbol "£", commercial GBP), and ranges in value from one penny sterling to two pounds. Since decimalisation, on 15 February 1971, the pound has been divided into 100 pence (shown on coins as "new pence" until 1981). Before decimalisation, twelve pence made a shilling, and twenty shillings made a pound. British coins are minted by the Royal Mint in Llantrisant, Wales. The Royal Mint also commissions the coins' designs; however they also have to be accepted by the reigning monarch. In addition to the circulating coinage, the UK also mints commemorative decimal coins ( crowns) in the denomination of five pounds, ceremonial Maundy money in denominations of 1, 2, 3 and 4 pence in sterling (.925) silver and bullion coinage of gold sovereigns, half sovereigns, and gold and silver Britannia coins are also produced ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James VI Of Scotland
James VI and I (James Charles Stuart; 19 June 1566 – 27 March 1625) was King of Scotland as James VI from 24 July 1567 and King of England and Ireland as James I from the union of the Scottish and English crowns on 24 March 1603 until his death in 1625. Although he long tried to get both countries to adopt a closer political union, the kingdoms of Scotland and England remained sovereign states, with their own parliaments, judiciaries, and laws, ruled by James in personal union. James was the son of Mary, Queen of Scots, and a great-great-grandson of Henry VII, King of England and Lord of Ireland, and thus a potential successor to all three thrones. He acceded to the Scottish throne at the age of thirteen months, after his mother was forced to abdicate in his favour. Although his mother was a Catholic, James was brought up as a Protestant. Four regents governed during his minority, which ended officially in 1578, though he did not gain full control of his government ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merk (coin)
The merk () is a long-obsolete Scottish silver coin. Originally the same word as a money mark of silver, the merk was in circulation at the end of the 16th century and in the 17th century. It was originally valued at 13 shillings 4 pence (exactly of a pound Scots, or about one shilling sterling), later raised to 14''s.'' Scots. Varieties In addition to the merks, coins issued include the four merk worth 56''s.'' or £2/16/-; the half merk (or noble), worth 6/8 or 80 pence; the quarter merk, 3/4 or 40''d.''; the eighth-thistle merk, worth 1/8 or 20''d.'' Issues and historical context The first issue weighed and was 50% silver and 50% base metals,. thus it contained of pure silver. "Markland", or "Merkland", was used to describe an amount of land in Scottish deeds and legal papers. It was based upon a common valuation of the land. During the "Lang Siege" of Edinburgh Castle in 1572, the last phase of the Marian civil war, the goldsmith James Cockie minted half merks in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James III Of Scotland
James III (10 July 1451/May 1452 – 11 June 1488) was King of Scots from 1460 until his death at the Battle of Sauchieburn in 1488. He inherited the throne as a child following the death of his father, King James II, at the siege of Roxburgh Castle. James III's reign began with a minority that lasted almost a decade, during which Scotland was governed by a series of regents and factions who struggled for possession of the young king before his personal rule began in 1469. James III was an unpopular and ineffective king and was confronted with two major rebellions during his reign. He was much criticised by contemporaries and later chroniclers for his promotion of unrealistic schemes to invade or take possession of Brittany, Guelders and Saintonge at the expense of his regular duties as king. While his reign saw Scotland reach its greatest territorial extent with the acquisition of Orkney and Shetland through his marriage to Margaret of Denmark, James was accused of debas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debasement
A debasement of coinage is the practice of lowering the intrinsic value of coins, especially when used in connection with commodity money, such as gold or silver coins, while continuing to circulate it at face value. A coin is said to be debased if the quantity of gold, silver, copper or nickel in the coin is reduced. Examples Roman Empire In Roman currency, the value of the denarius was gradually decreased over time as the Ancient Rome, Roman government altered both the size and the silver content of the coin. Originally, the silver used was nearly pure, weighing about 4.5 grams. From time to time, this was reduced. During the Julio-Claudian dynasty, the denarius contained approximately 4 grams of silver, and then was reduced to 3.8 grams under Nero. The denarius continued to shrink in size and purity, until by the second half of the third century, it was only about 2% silver, and was replaced by the Argenteus. Ottoman Empire Weight of akçe in grams of silver and ind ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
