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The half cent was an American copper coin, the coinage and issue of which were authorized by Congress in 1792. The weight of this coin was 132 grains, but this was changed to 104 grains when, in 1793, its coinage was again authorized. This coin was not issued during the years 1798, 1799, 1801, 1812 to 1824 inclusive, 1827, 1830, 1837 to 1848 inclusive, and 1852. It was discontinued in 1857.
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The half-dollar is an American coin first issued in 1794 as a silver coin. In 1853 the weight of the half-dollar was reduced. Its coinage was authorized (at a weight of 208 grains) in April, 1792, and begun in 1794. Its weight was reduced in 1853 to 192 grains. There were no issues during the years 1798, 1799, 1800 or 1816.
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The half-eagle was an American gold coin issued from 1795 and valued at 5 dollars. Stamped upon the reverse with a figure of the American national bird - an eagle - and hence the name. Its coinage was authorized in 1792, and begun in 1795. The first return of gold coins was made on July the 31st, 1795, 744 half eagles. The half-eagle was authorized a second time in 1837. There were no half-eagles minted in 1816 or 1817.
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The half-guinea was an old British gold coin of the face value of 10s 6d.
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In England, the hangman at Tyburn was given 13.5 d with 1.5 d to pay for the rope. Bizarrely, noblemen who were to be beheaded were expected to give the executioner from 7 to 10 pounds for cutting off their head.
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A Hapawalu is an 1883 Hawaiian pattern 12-cent coin. In Hawaiian, Hapa means 'half' and Walu means 'eight'. Half of eight, or the fraction one-eighth. Only 20 of these were coined.
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A hard currency is a currency that is commonly accepted throughout the world; they are usually those of the western industrialized countries although other currencies have achieved this status, especially within regional trading blocs. Holdings of hard currency are valued because of their universal purchasing power. Countries with soft currencies go to great lengths to obtain and maintain stocks of hard currencies, often imposing strict restrictions on their use by the private citizen.
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The Hat tax was a tax levied upon men's hats by the British government in 1784, and repealed in 1811. The tax levied varied upon the retail price of the hat. retailers of hats were obliged to purchase a license to sell hats, and hats sold had a duty-stamp pasted inside them to show the tax had been paid.
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Haulage is the charge made by a haulier (haulage contractor) for transporting goods, especially by road. If the goods consist of a large number of packages (e.g. 100 tonnes of cattlefood packed in 2000 bags each weighing 50 kilograms) there will be a separate charge for loading and unloading the vehicle.
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Hearth-money was a tax on fireplaces, first apparent in Anglo-Saxon times, it was reimposed after the restoration in 1662. It was a great burden upon the poor, and involded inquisitorial visits from officials known as ' chimneymen'. The tax was repealed due to unpopularity in 1689.
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Hedonic demand theory is an economic theory that the price an individual will pay for a good reflects the sum of the characteristics of that good. This implies that demand for the characteristics is the true object of demand theory, not the goods themselves. While this is appealing in principle, it is very difficult to enumerate all the characteristics of goods in practice.
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The Hicksian (or compensated) demand function is a function that expresses an individual's demand for goods by means of prices at a particular level of utility. Unlike the Marshallian demand function, a change in the price of a good will have only one effect on the Hicksian demand function; as the level of utility is held constant, this is the substitution effect. The concept was introduced by Sir John Hicks.
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In mediaeval England, a hide was the amount of land that could support one household, and the hide unit of measurement was used for assessing taxation on land (geld).
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Hire purchase (HP) is a method of buying goods in which the purchaser takes possession of them as soon as he has paid an initial instalment of the price (a deposit) and obtains ownership of the goods when he has paid all the agreed number of subsequent instalments. A hire-purchase agreement differs from a credit-sale agreement and sale by instalments (or a deferred payment agreement) because in these transactions ownership passes when the contract is signed. It also differs from a contract of hire, because in this case ownership never passes. Hire-purchase agreements were formerly controlled by government regulations stipulating the minimum deposit and the length of the repayment period. These controls were removed in 1982. Hire-purchase agreements were also formerly controlled by the Hire Purchase Act (1965), but most are now regulated by the Consumer Credit Act (1974). In this Act a hire-purchase agreement is regarded as one in which goods are bailed in return for periodical payments by the bailee; ownership passes to the bailee
if he complies with the terms of the agreement and exercises his option to purchase.
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A hoondee was a bill of exchange or cheque, peculiar to India, and given between native bankers. It commenced with an invocation to Ganesa, the god of wisdom. The bill then mentioned the mode and date of payment. They had no stamp or legal authorisation, but instead the hoondee's authenticity was guarranteed by certain mystic signs understood by the bankers on both sides. Hoondees were still in use at the time of the British occupation of India.
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The Hot Lips is a variety of the American 1888-O silver dollar struck from doubled obverse die (a manufacturing mistake) that leaves Liberty with two sets of lips.
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Hot money is money that moves at short notice from one financial centre to another in search of the highest short-term interest rates, for the purposes of arbitrage, or because its owners are apprehensive of some political intervention in the money market, such as a devaluation. Hot money can influence a country's balance of payments.
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Hull insurance is marine or aircraft insurance covering the structure of a ship, boat, hovercraft, or aeroplane and the equipment maintained permanently on board.
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A hypermarket is a very large shop, usually having a selling area of at least 4645 square metres, that sells a wide range of products. Able to buy in bulk, hypermarkets are often located adjacent to towns and base their attraction on low prices and to car-owning consumers, who can make many of their purchases in one place where parking facilities are provided.
Hypermarkets are becoming increasingly common, especially in grocery and do- it-yourself retailing.
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In economics, hysteresis refers to the assumption that the present level of an economic variable depends on past levels. For example, when unemployment rises, a new classical economist would expect wages to fall and the demand for labour to rise, so that unemployment would quickly disappear. If there is hysteresis, however, this may not occur since workers, once excluded from the labour market, may lose skills and therefore be unable to compete with employed workers to push down wages. Hysteresis may be thought of as a post- Keynesian theory, which may justify the use of government expenditure to alleviate unemployment.
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Abbreviations
Money
