DOCSLIB.ORG

The Drs. Joanne and Edward Dauer Collection of World Banknotes

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The Drs. Joanne and Edward Dauer Collection of World Banknotes DALLAS | THE DRS. JOANNE JOANNE DRS. THE DAUER AND EDWARD COLLECTION OF BANKNOTESWORLD WORLD PAPER MONEY PAPER WORLD APRIL 24, 2020 WORLD PAPER MONEY AUCTION #4020 | THE DRS. JOANNE AND EDWARD DAUER COLLECTION OF WORLD BANKNOTES | APRIL 24, 2020 | DALLAS Front Cover Lots: 26088, 26115, 26193, 26006, 26051 Inside Front Cover Lots: 26066, 26075, 26190, 26177, 26068 Inside Back Cover Lots: 26143, 26162, 26083, 26148, 26125 Back Cover Lots: 26191, 26129, 26185, 26181, 26108 Heritage Signature® Auction #4020 World Paper Money The Drs. Joanne and Edward Dauer Collection of World Banknotes April 24, 2020 | Dallas FLOOR Signature® Session PRELIMINARY LOT VIEWING (Floor, Telephone, HERITAGELive!®, Internet, Fax, and Mail) By appointment only. Contact Jose Berumen at 214-409-1299 Heritage Auctions, Dallas • 1st Floor Auction Room or [email protected] (All times subject to change) 3500 Maple Avenue • Dallas, TX 75219 Heritage Auctions, Dallas • 17th Floor 3500 Maple Avenue • Dallas, TX 75219 Session Friday, April 24 • 2:00 PM CT • Lots 26001–26197 Monday, April 6 – Friday, April 10 • 9:00 AM – 5:00 PM CT LOT VIEWING Heritage Auctions, Dallas • 17th Floor LOT SETTLEMENT AND PICK-UP 3500 Maple Avenue • Dallas, TX 75219 Available weekdays 9:00 AM – 5:00 PM CT starting Monday, April 27, by appointment only. Please contact Client Services Tuesday, April 21 • 12:00 PM – 5:00 PM CT at 866-835-3243 to schedule an appointment. Wednesday, April 22 – Friday, April 24 9:00 AM – 5:00 PM CT Lots are sold at an approximate rate of 125 lots per hour, but it is not uncommon to sell 100 lots or 175 lots in any given hour. View lots & auction results online at HA.com/4020 Buyer's Premium Per Lot: This auction is subject to a Buyer's Premium of 20% (minimum $19 ) per lot. BIDDING METHODS ® 1 TX Auctioneer Licenses: Teia Baber 16624; Ed Beardsley 16632; Sarah Davies 17505; Bidding Nicholas Dawes 16784; Sophie Duncan 17901; Christopher Dykstra 16601; Fiona Bid live on your computer or mobile, anywhere in the Elias 17126; Francesca Felgar 17902; Samuel Foose 11727; Alissa Ford 17104; ® Kathleen Guzman 16142; Emily Hartman 17922; Gregory Holman 17653; Gregory world, during the auction using our HERITAGELive! Francis Kopriva 18107; Roberta Kramer 17439; Brent Randall Lewis 17881; Jennifer program at HA.com/Live Jayne Marsh 17105; Marina Medina 17512; Sarah Miller 18098; Rochelle Mortenson 17898; Scott Peterson 13256; Michael Provenzale 17157; Samantha Erin Robinson Live Floor Bidding 18104; Michael Sadler 16129; Barry Sandoval 17649; Martin Scammel, Jr. 17659; Nathan Schar 17365; Kimberly Serrano 17657; Anthony Singleton 17507; Rebecca Bid in person during the floor sessions. Elise Van Norman 18103; Andrea Voss 16406; Jacob Walker 16413; Rachel Weathers 17907; Brian Wiedman 17894; Adam Williams 17893; Phillip Wooten 17656. Live Telephone Bidding (Floor Sessions Only) Phone bidding must be arranged 24 hours before your session begins. Client Service: 866-835-3243 Internet Absentee Bidding Proxy bidding ends ten minutes prior to the session start time. Live Proxy bidding continues through the session. HA.com/4020 Fax Bidding Fax bids must be received 24 hours before your session begins. Fax: 214-409-1425 Phone: 214-528-3500 • 877-HERITAGE (437-4824) Fax: 214-409-1425 Direct Client Service Line: 866-835-3243 Email: [email protected] This Auction is catalogued and presented by Currency Auctions of America, Inc., doing business as Heritage Auctions. ©2020 Heritage Numismatic Auctions, Inc. All rights reserved. HERITAGE is a registered trademark and service mark of Heritage Capital Corporation, registered in U.S. Patent and Trademark Office. 1Patent No. 9,064,282 58101 World Currency Specialists Steve Ivy CEO Co-Chairman of the Board Kathleen Guzman Managing Director New York Allen Mincho Len Glazer Dustin Johnston Director of Auctions Director of Auctions Vice President Jim Halperin Co-Chairman of the Board Hayley Brigham Managing Director Beverly Hills Michael Moczalla Keith Esskuchen Craig Eustace Consignment Director Consignment Director Consignment Director Greg Rohan President Alissa Ford Managing Director Kenneth Yung Jan Schoten Marcel Frissen San Francisco Managing Director Consignment Director Consignment Director Hong Kong Amsterdam Amsterdam Paul Minshull Chief Operating Officer Chief Technology Officer Roberta Kramer Managing Director Chicago Todd Imhof Executive Vice President Kenneth Yung Managing Director Hong Kong Cristiano Bierrenbach Worldwide Headquarters Executive Vice President International 3500 Maple Avenue • Dallas, Texas 75219 Phone 214-528-3500 • 877-HERITAGE (437-4824) HA.com/4020 Jacco Scheper Managing Director Consignment Directors: Allen Mincho, Len Glazer, Dustin Johnston, Michael Moczalla, Amsterdam Keith Esskuchen, Craig Eustace, Kenneth Yung, Jan Schoten, Marcel Frissen Mike Haynes Cataloged by: Eric Maleckowicz, Jennifer Esskuchen, Keith Esskuchen Chief Financial Officer Order of Auction start end Australia ................................................ 26001 26023 Bahamas ................................................ 26024 26043 Belize ..................................................... 26044 26050 Bermuda ................................................ 26051 26066 British Guiana ........................................ 26067 British Honduras .................................... 26068 26069 British North Borneo ............................. 26070 British West Africa ................................. 26071 26075 Cayman Islands ...................................... 26076 Ceylon ................................................... 26077 26079 Cyprus ................................................... 26080 26087 East Africa ............................................. 26088 26094 European Union .................................... 26095 Falkland Islands ..................................... 26096 26102 Fanning Island ....................................... 26103 Fiji .......................................................... 26104 26115 France .................................................... 26116 Iceland ................................................... 26117 26118 India ....................................................... 26119 26128 Ireland - Republic (Eire) ......................... 26129 Isle Of Man ............................................ 26130 26134 Israel ...................................................... 26135 26142 Jamaica .................................................. 26143 26149 Malaya ................................................... 26150 26151 Malaya and British Borneo .................... 26152 Malta ..................................................... 26153 Mauritius ................................................ 26154 26159 New Zealand ......................................... 26160 Nigeria ................................................... 26161 Pakistan ................................................. 26162 Palestine ................................................ 26163 26164 Rhodesia ................................................ 26165 26169 Rhodesia & Nyasaland .......................... 26170 26171 Sarawak ................................................. 26172 26174 Seychelles .............................................. 26175 26179 Singapore .............................................. 26180 Solomon Islands .................................... 26181 Southern Rhodesia ................................ 26182 26185 Straits Settlements ................................ 26186 26190 Trinidad & Tobago ................................. 26191 29192 Turks & Caicos Islands ........................... 26193 United Arab Emirates ............................ 26194 26195 Western Samoa ..................................... 26196 26197 Dr. Joanne C. Dauer was born in DuBois, Pennsylvania and attended Penn State University where she earned undergraduate and graduate degrees in Nursing. After working as a surgical nurse in Miami, she received her training as a critical care nurse at Mt. Sinai Medical Center at Miami Beach. She was certified by the American Association of Critical Care Nurses from 1986-1995 and worked as a surgical intensive care nurse in the post-operative cardiovascular intensive care unit. She was Associate Administrator of Florida Medical Center, a 459 bed hospital in Ft. Lauderdale, from 1982-1993 and currently serves as Executive Director of Florida Medical Services. She earned her Doctorate of Nurse Practice degree at the University of Miami in December, 2013. Joanne is currently a faculty member at the University of Miami School of Nursing and Health Studies and teaches Nursing students in the clinical simulation laboratory. Drs. Joanne and Edward Dauer Dr. Edward Dauer attended the University of Miami in Coral Gables, Florida, and earned an undergraduate degree in Electrical Engineering, a graduate degree in Biomedical Engineering, and a M.D. degree from the School of Medicine. He is board certified in Diagnostic Radiology and has served as Director of Radiology at Florida Medical Center since 1979. In 1988, he was appointed a member of the Florida State Board of Medicine by the governor and confirmed by the senate. During his eleven years on the board, he served two terms as Chairman. The Board of Medicine licenses physicians to practice medicine, disciplines physicians when there is a violation of the state statutes, and writes the rules governing the practice of medicine. Dr. Dauer has been a member of the University of Miami Board of Trustees since 1996 and
Load more

Recommended publications
  • This PDF Is a Selection from an Out-Of-Print Volume from the National Bureau of Economic Research
    This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: The International Gold Standard Reinterpreted, 1914-1934 Volume Author/Editor: William Adams Brown, Jr. Volume Publisher: NBER Volume ISBN: 0-87014-036-1 Volume URL: http://www.nber.org/books/brow40-1 Publication Date: 1940 Chapter Title: Book III, Part V: The Impact of the World Economic Depression on the International Gold Standard, 1929-1931 Chapter Author: William Adams Brown, Jr. Chapter URL: http://www.nber.org/chapters/c5947 Chapter pages in book: (p. 808 - 1047) PART V The Impact of the World Economic Depression on the International Gold Standard, 1929-1931 S CHAPTER 22 The International Distribution of Credit under the Impact of World-wide Deflationary Forces For about twelve months after the critical decisions of June 1927 the international effects of generally easy money were among the most fundamental causes of a world-wide upswing in business.1 Though prices in gold standard countries were falling gradually, increasing productivity would probably have forced them much lower had it not been for the ex- pansion of credit. There was an upward pressure in many price groups. Profits from security and real estate speculation stimulated demand for many commodities. Low interest rates made it easy to finance valorization schemes and price arrangements and promoted the issue of foreign loans, par.. ticularly in the United States. Foreign loans in turn helped to maintain prices in many debtor countries and also pre- vented the growth of tariffs from checking the expansion of international trade.2 The continued extension of interna- tional credit was a dam that was holding back the onrushing torrent of economic readjustment.
    [Show full text]
  • Christopher Kent: the Resources Boom and the Australian Dollar
    Christopher Kent: The resources boom and the Australian dollar Address by Mr Christopher Kent, Assistant Governor (Economic) of the Reserve Bank of Australia, to the Committee for Economic Development of Australia (CEDA) Economic and Political Overview, Sydney, 14 February 2014. * * * I thank Jonathan Hambur, Daniel Rees and Michelle Wright for assistance in preparing these remarks. I would like to thank CEDA for the invitation to speak here today. I thought I would take the opportunity to talk to you about the implications of the resources boom for the Australian dollar. The past decade saw the Australian dollar appreciate by around 50 per cent in trade- weighted terms (Graph 1).1 The appreciation was an important means by which the economy was able to adjust to the historic increase in commodity prices and the unprecedented investment boom in the resources sector.2 Even though there was a significant increase in incomes and domestic demand over a number of years, average inflation over the past decade has remained within the target. Also, growth has generally not been too far from trend. This is all the more significant in light of the substantial swings in the macroeconomy that were all too common during earlier commodity booms.3 The high nominal exchange rate helped to facilitate the reallocation of labour and capital across industries. While this has made conditions difficult in some industries, the appreciation, in combination with a relatively flexible labour market and low and stable inflation expectations, meant that high demand for labour in the resources sector did not spill over to a broad-based increase in wage inflation.4 So the high level of the exchange rate was helpful for the economy as a whole.
    [Show full text]
  • St Tri B 1960 5
    ~ .., ,."\ \ ~ ) ~ .·• ·• ~ ~. IL 1 -., ' ST/TRI/B.l960/ 5 NON-SELF-GOVERNING TERRITORIES Summaries of information transmitted to the Secretary-General for 1959 Pacific Territories: American Samoa Cook Islands Fiji Gilbert and Ellice Islands Guam Netherlands New Guinea New Hebrides Niue Island Papua Pitcairn Island Solomon Islands Tokelau Islands UNITED NATIONS SUMMARIES OF INFORMATION FOR 1959 Territories by Administering Member responsible for transmitting information Au$tralia United Kingdom (continued) Cocoa (Keeling) Islands Malta Papua Mauritius New Hebrides France (condominium, France) North Borneo New Hebrides , Northern Rhodesia (condominium, Uni~ed Kingdom) Nyasaland Pitcairn Island Netherlands st. Helena Netherlands New Guinea Sarawak Seychelles New Zealand Sierra Leone Singapore Cook Islands Solomon Islands Niue Island Swaziland Tokelau Islands Uganda The West lndies: United Kingdom Antigua Aden Barbados Bahamas Dominica Basutoland Grenada Bechuanaland Jamaica Bermuda Montserrat British Gulana st. Kitts-Nevis-Anguilla British Honduras st. Lucia British Virgin Islands st. Vincent Brunei Trinidad and Tobago Falkland Islands Zanzibar Fiji Gambia Gibraltar United States of America Gilbert and Elllce Islands American Samoa Hong Kong Guam Kenya United states Virgin Islands NON-SELF-GOVERNING TERRITORIES Summaries of information transmitted to the Secretary-General for 1959 Pacific Territories: American Samoa Cook Islands Fiji Gilbert and Ellice Islands Guam Netherlands New Guinea New Hebrides Niue Island Papua Pitcairn Island Solomon Islands Tokelau Islands UNITED NATIONS New York, 1961 NOTE The following symbols are used: Three dots (••• ) data not available Dash (- ) magnitude nil or negligible Slash 1948/1949 crop or financial year Hyphen 1948-1949 annual average STJTRI/B.l960/5 l INFORMATION FROM NON-SELF-GOVERNING TERRITORIES Pacific Territorie~/ In accordance with the provisions of ALticle 73 e of the Charter the .
    [Show full text]
  • CURRENCY BOARD FINANCIAL STATEMENTS Currency Board Working Paper
    SAE./No.22/December 2014 Studies in Applied Economics CURRENCY BOARD FINANCIAL STATEMENTS Currency Board Working Paper Nicholas Krus and Kurt Schuler Johns Hopkins Institute for Applied Economics, Global Health, and Study of Business Enterprise & Center for Financial Stability Currency Board Financial Statements First version, December 2014 By Nicholas Krus and Kurt Schuler Paper and accompanying spreadsheets copyright 2014 by Nicholas Krus and Kurt Schuler. All rights reserved. Spreadsheets previously issued by other researchers are used by permission. About the series The Studies in Applied Economics of the Institute for Applied Economics, Global Health and the Study of Business Enterprise are under the general direction of Professor Steve H. Hanke, co-director of the Institute ([email protected]). This study is one in a series on currency boards for the Institute’s Currency Board Project. The series will fill gaps in the history, statistics, and scholarship of currency boards. This study is issued jointly with the Center for Financial Stability. The main summary data series will eventually be available in the Center’s Historical Financial Statistics data set. About the authors Nicholas Krus ([email protected]) is an Associate Analyst at Warner Music Group in New York. He has a bachelor’s degree in economics from The Johns Hopkins University in Baltimore, where he also worked as a research assistant at the Institute for Applied Economics and the Study of Business Enterprise and did most of his research for this paper. Kurt Schuler ([email protected]) is Senior Fellow in Financial History at the Center for Financial Stability in New York.
    [Show full text]
  • Fear of Sudden Stops: Lessons from Australia and Chile
    Fear of Sudden Stops: Lessons from Australia and Chile Ricardo J. Caballero Kevin Cowan Jonathan Kearns∗ March 2, 2004 Abstract Latin American economies are exposed to substantial external vulnerability. Domestic im- balances and terms of trade shocks are often exacerbated by sudden financial distress. In this paper we explore ways of overcoming external vulnerability drawing lessons from a detailed com- parison of the response of Chile and Australia to recent external shocks and from Australia’s historical experience. We argue that in order to understand sudden stops and the mechanisms to smooth them, it is useful to highlight and then draw a distinction between two dimensions of investors confidence: country-trust and currency-trust. While these two dimensions are interre- lated, there are important distinctions. Lack of country-trust is a more fundamental and serious problem behind sudden stops. But lack of currency-trust may both be a source of country-trust problems as well as weaken a country’s ability to deal with sudden stops. We discuss steps to improve along these two dimensions of investors’ confidence in the medium run, and policies to reduce the impact of country-trust and currency-trust weaknesses in the short run. ∗Respectively: MIT and NBER; IADB; Reserve Bank of Australia. This paper is a revised version of the paper prepared for the Financial Dedollarization: Policy Options conference at the Inter-American Development Bank, 1-2 December 2003. The views expressed in this paper are those of the authors and should not be attributed to the IADB, the Reserve Bank or any other institution with which they are affiliated.
    [Show full text]
  • Studies in Applied Economics
    SAE./No.89/October 2017 Studies in Applied Economics THE TONGAN BOARD OF COMMISSIONERS OF CURRENCY (1935-1989): NOT AN ORTHODOX CURRENCY BOARD Cameron C. Little Johns Hopkins Institute for Applied Economics, Global Health, and Study of Business Enterprise The Tongan Board of Commissioners of Currency (1935-1989): Not an Orthodox Currency Board By Cameron C. Little Copyright 2017 by Cameron C. Little. This work may be reproduced or adapted provided that no fee is charged and the original source is properly credited. About the Series The Studies in Applied Economics series is under the general direction of Professor Steve H. Hanke, Co-Director of the Institute for Applied Economics, Global Health and Study of Business Enterprise ([email protected]). This working paper is one in a series on currency boards for the Currency Board Project. The currency board working papers will fill gaps in the history, statistics, and scholarship of the subject. The authors are mainly students at the Johns Hopkins University in Baltimore who have conducted their work at the Institute as undergraduate researchers. About the Author Cameron C. Little is a third year student at The Johns Hopkins University in Baltimore pursuing a Bachelor of Arts in Economics with a minor in Financial Economics. He wrote this paper while serving as an undergraduate researcher at the Institute for Applied Economics, Global Health, and Study of Business Enterprise during Spring 2017. He will graduate in May 2019. Abstract This paper provides a historical summary, legislative history, and the first spreadsheet data series of the Tonga Board of Commissioners of Currency (1935-1989) and uses statistical tests to examine to what extent it operated as an orthodox currency board.
    [Show full text]
  • Metadata on the Exchange Rate Statistics
    Metadata on the Exchange rate statistics Last updated 26 February 2021 Afghanistan Capital Kabul Central bank Da Afghanistan Bank Central bank's website http://www.centralbank.gov.af/ Currency Afghani ISO currency code AFN Subunits 100 puls Currency circulation Afghanistan Legacy currency Afghani Legacy currency's ISO currency AFA code Conversion rate 1,000 afghani (old) = 1 afghani (new); with effect from 7 October 2002 Currency history 7 October 2002: Introduction of the new afghani (AFN); conversion rate: 1,000 afghani (old) = 1 afghani (new) IMF membership Since 14 July 1955 Exchange rate arrangement 22 March 1963 - 1973: Pegged to the US dollar according to the IMF 1973 - 1981: Independently floating classification (as of end-April 1981 - 31 December 2001: Pegged to the US dollar 2019) 1 January 2002 - 29 April 2008: Managed floating with no predetermined path for the exchange rate 30 April 2008 - 5 September 2010: Floating (market-determined with more frequent modes of intervention) 6 September 2010 - 31 March 2011: Stabilised arrangement (exchange rate within a narrow band without any political obligation) 1 April 2011 - 4 April 2017: Floating (market-determined with more frequent modes of intervention) 5 April 2017 - 3 May 2018: Crawl-like arrangement (moving central rate with an annual minimum rate of change) Since 4 May 2018: Other managed arrangement Time series BBEX3.A.AFN.EUR.CA.AA.A04 BBEX3.A.AFN.EUR.CA.AB.A04 BBEX3.A.AFN.EUR.CA.AC.A04 BBEX3.A.AFN.USD.CA.AA.A04 BBEX3.A.AFN.USD.CA.AB.A04 BBEX3.A.AFN.USD.CA.AC.A04 BBEX3.M.AFN.EUR.CA.AA.A01
    [Show full text]
  • Permanent Exhibition Labels
    Reserve Bank of Australia Museum Permanent Exhibition Labels D20/318502 GENERAL 1 Before Federation: to 1900 Aboriginal trade was based on exchange, and did not involve the use of currency. Due to a lack of a suitable currency, barter (as well as other forms of currencies) was used following British colonisation. The beginnings of a private enterprise economy emerged early however, promoting in time the development of banking and the currency. The discovery of gold in 1851 boosted this process. Proposals for a national bank to issue currency notes emerged at times during the 19th century, mainly in response to economic and financial crises. Currency Chaos Rum, Shinplasters, Holey Dollars & More When the colony of New South Wales was established, no provision was made for an internal currency. There were no banks for some time and of course no central bank. This produced a period of chaotic currency arrangements and experiments in the colony. In the early years, the colonists had to rely on barter – the exchange of produce, goods and services – and other makeshift currencies such as rum (as all spirits were then called). Coin Shortage Coin was very scarce in the early years with England also suffering from a coin shortage. The Spanish dollar was a major international currency of the time. A shipment of Spanish dollars was sent from England in 1792. Coins from a range of other countries were also used such as Dutch guilders and ducats, Indian mohurs and rupees and Portuguese johannas. But much of this coin left the colony as a result of trade with visiting merchant ships.
    [Show full text]
  • Monetary Policy in Australia 1920-1925 Selwyn Cornish And
    CENTRE FOR ECONOMIC HISTORY THE AUSTRALIAN NATIONAL UNIVERSITY DISCUSSION PAPER SERIES MAKING A LAND FIT FOR A GOLD STANDARD: MONETARY POLICY IN AUSTRALIA 1920-1925 SELWYN CORNISH WILLIAM COLEMAN AUSTRALIAN NATIONAL UNIVERSITY DISCUSSION PAPER NO. 2014-06 MARCH 2014 THE AUSTRALIAN NATIONAL UNIVERSITY ACTON ACT 0200 AUSTRALIA T 61 2 6125 3590 F 61 2 6125 5124 E [email protected] http://rse.anu.edu.au/CEH Making a Land Fit for a Gold Standard: Monetary Policy in Australia 1920-1925 Selwyn Cornish and William Coleman! 1 The Research School of Economics, College of Business and Economics, The Australian National University. Introduction On 4 February 1925 Sir Otto Niemeyer, Controller of Finance at the British Treasury, wrote to M.L. Shepherd, 0 fficial Secretary to the Australian High Commission in London, asking whether the Commonwealth Bank "ought not take steps to bring the Australian exchange banks to some glimmering of sense". The difficulty was that Australia, "a gold producing country, with an ample gold reserve of £25m, [was] actually importing gold, because the exchange banks are still charging 3% premium for pounds in Australia in spite of the fact that sterling was within 1- 1'12% of gold parity." South African banks, Niemeyer noted, had recently reduced their sterling discount and "it is obvious that your exchange banks ought to do the same without a moment's delay." If the banks demurred, he proposed that the Commonwealth Bank should itself "take the initiative in offering Australian pounds at a reasonable rate against sterling payment here". After all, the "present position", he asserted, "must be doing Australia great harm for no reasonable object whatever." (RBA C1.8-25/G/l, Niemeyer to Shepherd, 4 Febmary 1925) Thirty-four years later, in 1959, the Australian Treasury Representative in London, John Stone, discovered Niemeyer's letter in a closed file at Australia House and dispatched a copy to his superior in Canberra, Richard Randall, who, in rum, passed it on to the Deputy Governor of the Commonwealth Bank, E.B.
    [Show full text]
  • The Modern Colonial Sterling Exchange Standard H
    The Modern Colonial Sterling Exchange Standard H. A. Shannon * "A society like the British Empire lends itself very ill to precise definitions." (Hansard, Nov. 9, 1950) HE MONETARY SYSTEMS of the British colonial territories and T their^ unification under the Colonial Sterling Exchange Standard cannot be fully understood except in the light of their long and com- plex history and of British constitutional law and history. Since a sketch of their evolution has been given elsewhere,1 thi^ paper is con- cerned mainly with their present position. Some minor differences of form and of substance which still survive will be ignored, and only major principles and practices will be discussed in full. Local legal and historical details are given, territory by territory, in Appendix I.2 Money and coinage have been immemorial prerogatives of State everywhere—in the British case, a prerogative of the King. In the colo- nial territories, whether originally settled by the British or acquired by war or treaty, the Governor as the King's representative was, and is, the guardian of the royal prerogatives. The colonies, for example, had, and have, no power to set up a mint by themselves. Today, the royal prerogative in money takes the form, in territories having their own legislatures, of "reserved powers"—that is, the Governor, if presented with a bill or other proposed legislation touching on currency, will with- * Mr. Shannon, Acting Chief of the British Commonwealth Division, is a graduate of the University of Belfast and the London School of Economics. He was formerly Senior Lecturer in the University of the Wifrwa^ersrand.
    [Show full text]
  • The Big Reset
    REVISED s EDITION Willem s Middelkoop s TWarh on Golde and the Financial Endgame BIGs s RsE$EAUPTs The Big Reset The Big Reset War on Gold and the Financial Endgame ‘Revised and substantially enlarged edition’ Willem Middelkoop AUP Cover design: Studio Ron van Roon, Amsterdam Photo author: Corbino Lay-out: Crius Group, Hulshout Amsterdam University Press English-language titles are distributed in the US and Canada by the University of Chicago Press. isbn 978 94 6298 027 3 e-isbn 978 90 4852 950 6 (pdf) e-isbn 978 90 4852 951 3 (ePub) nur 781 © Willem Middelkoop / Amsterdam University Press B.V., Amsterdam 2016 All rights reserved. Without limiting the rights under copyright reserved above, no part of this book may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise) without the written permission of both the copyright owner and the author of the book. To Moos and Misha In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods.
    [Show full text]
  • Updated Country Chronologies
    - 1 - This Draft: December 27, 2010 The Country Chronologies and Background Material to Exchange Rate Arrangements into the 21st Century: Will the Anchor Currency Hold? Ethan Ilzetzki London School of Economics Carmen M. Reinhart University of Maryland and NBER Kenneth S. Rogoff Harvard University and NBER - 2 - About the Chronologies and Charts Below we describe how to use and interpret the country chronologies. 1. Using the chronologies The individual country chronologies are also a central component of our approach to classifying regimes. The data are constructed by culling information from annual issues of various secondary sources, including Pick’s Currency Yearbook, Pick’s World Currency Report, Pick’s Black Market Yearbook, International Financial Statistics, the IMF’s Annual Report on Exchange Rate Arrangements and Exchange Restrictions, and the United Nations Yearbook. Constructing our data set required us to sort and interpret information for every year from every publication above. Importantly, we draw on national sources to investigate apparent data errors or inconsistencies. More generally, we rely on the broader economics literature to include pertinent information. The chronologies allow us to date dual or multiple exchange rate episodes, as well as to differentiate between pre-announced pegs, crawling pegs, and bands from their de facto counterparts. We think it is important to distinguish between say, de facto pegs or bands from announced pegs or bands, because their properties are potentially different. The chronologies also flag the dates for important turning points, such as when the exchange rate first floated, or when the anchor currency was changed. Note that we extend our chronologies as far back as possible (even though we can only classify from 1946 onwards.) The second column gives the arrangement, according to our Natural classification algorithm, which may or may not correspond to the official classification.
    [Show full text]