Money of the English-Speaking Countries from its Origins to our Time
INTRODUCTION. The topic of my research is “Money of the English-Speaking Countries from its Origins to our Time”. It touches different aspects connected with the history of money, how it began and what it makes valuable. I started researching this topic because I’m really interested in it and it will expand my horizons. So, the object of my research is the currency of the English-speaking countries at different stages of its development. In my research I touch upon the history of pound and the aim of my investigation is to answer the following questions: How did it begin? How has it evolved to the present day?
HYPOTHESIS: The British Pound Sterling and American Dollar are the most popularly traded currency, and the most commonly held reserve currency. The British Pound Sterling represents the economy of The United Kingdom, which consists of England, Scotland, Wales, and Northern Ireland and American Dollar represents the economy of the United States of America; The USD is the most traded currency in the Forex market and can be paired with all other major currencies and the Pound Sterling is the sixth largest currency in terms of GDP, and the 8th largest in terms of Purchasing Power Parity.
POUND STERLING.WHAT IT IS. Over the centuries, money has reflected changes in politics, economic life and power, in science and technology, in religious and other cultural beliefs, in family and neighborhood life, and in other aspects of how we live. And it has not just reflected those changes; it has also helped to bring them about.
AMERICAN DOLLAR.WHAT IT IS. The US central bank is called the Federal Reserve Bank (commonly referred to as "The Fed"). The USD is the most traded currency in the FOREX market and can be paired with all other major currencies. Common names for the USD include the greenback, buck, green, dough, smacker, bones, dead presidents, scrillas and paper.
HISTORY OF BRITISH MONEY As a unit of currency, the term pound originates from the value of a troy pound of high purity silver known as sterling silver . An Act in 1266 set the weight of the silver penny, so one pound of sterling silver would yield 240 silver pennies. However, although the Pound was subsequently used in accounting (to complement and eventually replace the Mark, valued at 160 silver pennies), no pound coin was issued until 1489.
DENOMINATIONS. •One Pence - 1/100 of a Pound One Pound - 100/100, 1 full Pound •Two Pence - 2/100 of a Pound •Two Pounds- 200/100, 2 full Pounds
HISTORY OF THE AMERICAN MONEY After the creation of the US dollar, the fledgling American administration of President George Washington turned its attention to monetary issues again in the early 1790s under the leadership of Alexander Hamilton, the secretary of the treasury at the time. Congress acted on Hamilton's recommendations in the Coinage Act of 1792, which established the dollar as the basic unit of account for the United States.
DENOMINATIONS. $1 note $2 note $5 note $10 note $20 note
$50 note $100 note
Banknotes of all denominations provided with a set of advanced security features, including: multi-tone watermark; metallized security thread diving type; microprinting; magnetic protection made by local application of ferromagnetic components on certain parts of the security thread; foil stamping (only on the banknote 50 pounds). Since 1999 of the new series of banknotes was introducted. These bills have the additional elements of protection against forgery: kinegram and fluorescent protection.
COMPARISON OF THE BRITISH POUND AGAINST OTHER CURRENCIES .
COMPARISON OF THE AMERICAN DOLLAR AGAINST OTHER CURRENCIES .
CONCLUSION. The British Pound Sterling and American Dollar are the most popularly traded currency, and the third most commonly held reserve currency. The British Pound Sterling represents the economy of The United Kingdom, which consists of England, Scotland, Wales, and Northern Ireland and American Dollar represents the economy of the United States of America; The USD is the most traded currency in the Forex market and can be paired with all other major currencies and the Pound Sterling is the sixth largest currency in terms of GDP, and the 8th largest in terms of Purchasing Power Parity.
SOURCES. http://forexaw.com/TERMs/Money/Currencies/l34_Британский_фунт_стерлинга_British_pound_sterling_GBP_это https://en.wikipedia.org/wiki/Pound_sterling http://www.lingvaflavor.com/pound http://www.britannica.com/EBchecked/topic/473092/pound-sterling http://mfd.ru/currency/?currency=USD¤cyCompare=GBP&from=01.01.2010&till=01.12.2014 http://en.wikipedia.org/wiki/Slang_terms_for_money#United_States http://en.wikipedia.org/wiki/United_States_dollar http://www.dailywritingtips.com/50-slang-terms-for-money/ http://www.x-rates.com/table/?from=USD
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