|
The salute was a gold coin, of the value 25s, struck by Henry V, after his conquest in France.
 Research Salute
The schilling was the currency of Austria, until the adoption of the Euro in 2002.
Research Schilling
The Scudo was an old Italian silver coin varying locally in value from 5 to 8 francs and subdivided into 10 paoli and 100 bajocchi. The Scudo was a gold coin struck at Rome by the French and valued at 17.25 francs. The Scudo was a silver coin minted around the start of the 20th century and equivalent to the American dollar or English crown, valued at 5 francs.
Research Scudo
Scutage was a sum of money payable by a knight under the feudal system for his fee by way of commutation for personal service. It was first exacted in 1159 and was restricted by Magna Carter.
Research Scutage
The sequin was a gold coin first struck at Venice at the end of the 13th century.
Research Sequin
The sesterce (sestertius) was an ancient Roman coin at first equal to 2.5 asses and later four asses. Originally a small silver coin, it became a copper coin under the Empire.
Research Sesterce
Seven-thirties were treasury notes of the United States bearing interest at the rate of 7.30 per cent per annum. They were first authorized in order to meet the expenses of the war by an act of July the 17th, 1861. The total amount issued, before the war was concluded, amounted to $830,000,000.
Research Seven-thirties
The shekel is the currency of Israel which derived from the Hebrew standard of weight for valuing metal. The original shekels were uncoined ingots of 210 (light shekel) and 420 (heavy shekel) grains of silver. They were first coined by Simon the Hasmonean around 139 BC.
Research Shekel
The shilling is the currency of Kenya.
English Shillings were first struck in 1504 of 925 (sterling) silver. In 1919 the English shilling was reduced to silver of a 500 fineness and in 1947 they ceased to be made of silver at all.
In America shillings were first issued from the mint at Boston. Its coins were of the value of 12d, 6d and 3d pieces, and 'every shilling weighing the three-penny trojweight and lesser peeces proportionably'. The first struck were mere planchets stamped near the border NE, and on the reverse the value indicated by XII, similarly impressed. The first struck were known as the New England Shilling and these were followed by the Willow Tree, Oak Tree and Pine Tree coins. Their weight was 72 grains, and their value 18.25 cents. The tree coins all bore the same date, the Pine Tree being the most conspicuous.
Maryland also, in 1659, had shillings coined in London by Lord Baltimore; their weight was 66 grains, and their value 16.73 cents. They bore a profile bust of Lord Baltimore, an escutcheon with his arms and the figure XII denoting the value.
There was also the Bermuda shilling or Hogge penny, one of the earliest coins used in America.
As money of account the shilling, like the pound varied much in value from colcuy to colony. In New England and Virginia the shilling equalled, in 1790, a sixth part of the Spanish or Mexican silver dollar; in New York and North Carolina an eighth; in New Jersey, Pennsylvania, Delaware and Maryland two-fifteenths; in South Carolina and Georgia three-fourteenths.
Research Shilling
Ship-Money was a tax levied by Charles I in October 1634, ostensibly for the equipment of ships for the defence of the coast and maintaining command of the sea. The tax was deemed illegal and was a contributory dispute which led to the English Civil War.
Research Ship-Money
Short selling is a highly dubious financial practise in which a person borrows shares from a broker, sells them and then in the future buys the same number of shares from the market and returns them to the broker. Short selling is used by unscrupulous dealers who borrow high priced shares, sell them at a large price, then spread untrue rumours about the company connected with the shares, causing the share price to fall, they the dealer then buys back the required number of shares, at a much lower price than he sold them for, and returns the shares to his broker, keeping the difference in money or profit he has made. Short selling came to prominence during the 1980s when it was responsible, in part, for many stock market crashes and at the start of the 21st century when it was responsible for the collapse of some financial institutions such as HBOS in the UK, with unscrupulous dealers spreading untrue rumours about the bank's financial difficulties which caused the bank's share price to plummet, enabling those dealers who had short sold shares to make millions of pounds in a matter of hours - a practice known as 'short and distort'.
Research Short Selling
The single tax was a system of taxation proposed by Harry George. It was proposed that tax should be confined to land-rent, land being the real source of wealth.
Research Single Tax
A Sky Sign was a device for advertisements attached to a support above a building so as to be visible against the sky. They were outlawed in England in 1907.
Research Sky Sign
Sky writing is the tracing against the sky of an advertisement-word in smoke by an aeroplane.
Research Sky Writing
A Slate Club is a society whose members contribute small sums weekly or monthly to a fund held by the secretary and shared out at Christmas or on some other special occasion. Slate clubs derived their name from the original practice of chalking the names of the members upon a slate.
Research Slate Club
Slavery is the legal and economic status of being property.
Slavery probably originated in early agricultural societies, evidence of slavery among the ancient Germans, Greeks, Egyptians, Arabs and many African peoples is evident. The slaves then being recruited from prisoners of war, captured by raiding parties and also frequently gamblers who to repay their debt became a slave for a period of time.
In Greece and Rome slaves formed the economic basis of society. From the 2nd century BC conquest flooded Rome with slaves, who in the 1st cent, AD outnumbered free men in Italy, and several slave revolts occurred. The economic crisis of the 2nd century AD onwards led to alleviation of the slaves' lot, and serfdom replaced slavery. It nevertheless died out slowly surviving in England until the 11th century The colonisation of America led to a revival of slavery in the 16th century and to the establishment of a traffic in Negro slaves.
The popular understanding of African slaves used by Europeans to work the sugar plantations of the West Indies originated with the Portuguese who upon exploring the kingdom of Dahomey (now Benin) in West Africa were introduced to slavery by the Dahomean king. The Dahomeans bringing back slaves from other countries inland, many being sacrificed in religious ceremonies, others killed and cooked to feed the soldiers and others used as unpaid workers. From the Portuguese the concept spread to the Dutch and the English and French.
The treatment of slaves in European colonies varied. In French colonies slaves were no allowed to be traded once they had reached the colony, and had rights including religious education. In Jamaica and other English colonies the slaves were treated far harsher, and in one colony the penalty for a master killing a Negro slave was a fine of just fifteen shillings. Later legislation in the 18th century made it a capital offence in English colonies to kill a Negro slave, but it seems unlikely justice was observed.
The concept of slavery was abhorrent to many English people certainly as early as the 18th century, an early edition of the Encyclopaedia Britannica published in 1797 calls for an end to slavery in no uncertain terms. An 19th century petition to the British parliament calling for an abolition of slavery failed because many of the signatories were found to be under age or uneducated 'peasants', and as such many wealthy and eligible to vote opponents of slavery refused to be involved with the petition. It is clear, also, that the rich and influential plantation owners and slave traders were not keen to lose their lucrative trade and lobbied hard to counter the abolitionist movement.
Humanitarian agitation led to the abolition of the slave trade in the British dominions in 1807 and of slave-holding itself in 1833. Leaders of the anti-slavery movement were Oranville Sharp, Thomas Clarkson and Wilberforce. In the USA the American Civil War turned largely on slavery which was declared illegal by Abraham Lincoln in 1865. Although officially abolished, slavery is widespread throughout the Arab world and Africa and still occurs within the rest of the world including Britain and America, and it would be more accurate to say slavery is illegal, rather than abolished.
The end of official slavery in the 19th century resulted in a new source of cheap labour being sought by the large European and American corporate companies, and was replaced by the importation of immigrant workers from poor countries who were prepared to labour longer hours for less pay than their native counterparts. These immigrant workers are much less educated in local labour and employment laws and are far easier to exploit by unscrupulous employers than the local workers, making them a very attractive proposition.
The importation of immigrant workers to replace local residents has long caused resentment among the local work force who frequently perceive their own unemployment as the responsibility of the immigrant workers, causing a back lash of violent protest and racism against foreigners in the country. A notable case was the importation of cheap labour from the British Commonwealth, notably Jamaica, into Britain following the Second World War, which resulted in public protests and widespread discontent among the British labouring classes. The extension of the European Union to include some East European countries where wages were comparatively low at the end of the 20th century and beginning of the 21st century enabled Western European countries to import masses of cheap labour from Eastern Europe, with the usual and natural resentment from the British trade unions and working class.
Some industrial nations have sought to limit the mass importation of cheap labour, and thereby protect their indigineous work force from unemployment by placing restrictions on immigration. Switzerland requires foreign workers to hold a university degree, thereby enabling the importation of skilled workers of whom there might be a shortage among the indigenous population, while preventing the legal importation of mass cheap labour of which there is never a shortage among the local population.
The difference between an exploited immigrant worker and a slave in modern times is perhaps more semantic than practical. While an immigrant worker does have rights and freedoms, if that worker is denied access to education of their rights, and is kept poor or in fear of their legal status they can be exploited almost as fully as a slave. Illegal immigrants working in Britain are frequently little better than slaves. Forced to work long hours for a pittance in poor conditions, they are controlled by means of their own fear of being discovered by the authorities and deported back to their original situation which may be even worse conditions.
Research Slavery
Socage was a certain kind of land tenure. Such land was held on the payment of a rent or services, and the holder was not a villein but a freeman. His obligations included the duty of attending at the court held by the lord of the manor. After the decay of feudalism socage tenure became freehold.
Research Socage
The sol was a silver coin of Peru, forming one tenth of a libra. The sol was divided into 100 centavos, and around the early part of the 20th century was coined in silver pieces of half-sol, 20, 10 and 5 centavos.
Research Sol
SOL
The Sol was a former currency of Peru. As a result of inflation, the Sol was replaced by the Intis in 1985.
Research Sol
The soldo was an old Italian, copper coin, in use during the 19th century, but which had been replaced by the 5-centesimi piece by the 1920's.
Research Soldo
The solidus was a gold coin struck by Constantine in place of the aureus, and known later as the bezant or byzant. Adopted by the Franks it was in use until the time of Pepin. The silver solidus was reckoned to equal twelve denarii, or silver pennies, and was thus equal to a shilling. The abbreviation S for solidus was adopted in the initials LSD (pounds, shilling and pence) in British pre-decimal coinage.
Research Solidus
The South Sea Bubble was an English scheme for liquidating the National Debt in the 18th century. In 1711 the South Sea Company was incorporated which in return for a monopoly of trade to Spanish America took over the floating National Debt. The public, encouraged by the government bought 100 pound shares in the company which quickly rose to 1000 pounds in value. Then in 1720 the company crashed and there was widespread ruin. In the ensuing inquiry the government was found guilty and Walpole attained power and restored the country's credit, and the South Sea Company henceforth conducted legitimate business.
Research South Sea Bubble
Spade Guinea is a popular name for the guinea coined in the reign of George III, and so called on account of it bearing a spade-shaped shield on its reverse side.
Research Spade Guinea
The specie circular was an American treasury circular drafted by Senator Benton and issued at President Jackson's orders, on July 11th, 1836, which directed that nothing but gold and silver should be received in payment for the public lands. This was Jackson's last financial exploit. The circular was issued quite in opposition to the sentiment or will of Congress. The next Congress passed a bill to rescind this specie circular, but Jackson killed it by a pocket veto. The circular created much indignation throughout the country, and contributed greatly to the financial crash of 1837.
Research Specie Circular
In 1861, after the outbreak of the American Civil War, the banks of New York suspended coin payments, and their example was followed by most of the banks through America. Congress authorized the issue of large quantities of United States notes, to be a legal-tender. On January the 14th, 1875, an act was passed by Congress ordering the resumption of specie payments of Government contracts to begin on January 1st, 1879. To this end the purchase of bullion and the manufacture of subsidiary coin was at once begun for the redemption of fractional notes. These notes were rapidly presented for redemption, compelling the Government to run its mints over business hours.
Research Specie Resumption
The spur-rial was a gold coin first struck in the reign of Edward IV, and so named on account of having on its reverse a sun with four cardinal rays issuing from it. In the reign of James I its value was 15s.
Research Spur-Rial
The name star routes were applied to postal lines in America over which the mail could not be carried by railway or steamboat. In 1881 the second assistant Postmaster General Thomas J Brady, and others, including Senator S. W. Dorsey, of Arkansas, were accused of combining with certain mail contractors to defraud the Government. The combination had originally 134 routes, upon which the compensation for service under the contract amounted to $143,169. By increasing the number of trips per week, shortening the contract time for each trip and allowing therefor, the compensation was raised to $622,808. Dorsey was brought to trial in 1882. Dorsey denied all charges and the first jury failed to bring a decision. A second trial took place in 1883 and Dorsey was acquitted. Brady's trial was postponed, and no decision was found against him. But the corrupt combination was broken up.
Research Star Routes
A stater is one of several gold and silver coins minted in ancient Greece and Macedonia.
Research Stater
A statute merchant was an undertaking, signed in the presence of the mayor and sealed with the King's seal, by a debtor to pay a merchant his debt on a specified date. Statue merchants were established by the Statutes of Merchants of 1286 and 1288.
Research Statute Merchant
Sterling is the currency of Britain. The name is derived either from the Easterlings, the Hanse merchants who issued their own coinage of a rather better quality than that generally in circulation, or perhaps from the early silver penny known as a 'sterling' which was so called because it bore a designs of starlings.
Research Sterling
Stivers were two small coins at one time current in Holland and the Dutch colonies. The Dutch stiver was a silver coin equal to one twentieth of a gulden, another stiver was a small copper coin only current in the colonies.
Research Stiver
The Stock Exchange is a market for dealing in shares, stocks, bonds and other securities existing in most important financial centres of the world. In most cases Stock Exchanges have developed from informal meetings of 18th century commission agents and brokers.
Research Stock Exchange
Stock is the capital of a company, divided into shares of a given amount which are transferable. Stock is always paid up, shares need not be, but shares cannot be divided into parts.
Research Stocks and Shares
The stotinki is a unit of currency used in Bulgaria. 100 stotinki comprise 1 lev.
Research Stotinki
A strike is the chief bargaining weapon of a labour body, and consists of a voluntary stoppage of work with the object of obtaining better conditions or resisting worsening ones.
Research Strike
A subsidy is a pecuniary grant by the State to the costs of private enterprise without expectation of a direct return. Subsidies are also grants paid annually by one state to another in order to secure its neutrality or support in war or to induce it to act in accordance with the advice and in the interests of the country making the payment.
Research Subsidy
The sucre is the currency of Ecuador.
Research Sucre
The sugar act was an act passed by the British Parliament in 1733 and renewed in 1763, by which heavy duties were laid upon all sugar and molasses imported into the American colonies from foreign colonies. It was one of the direct causes of the American Revolution.
Research Sugar Act
Super tax was a name given in the United Kingdom to a tax levied on incomes above a certain figure. Super tax was a division of income tax and was first introduced in the budget of 1909, being increased and graduated in 1914, being further increased later the same year to help pay for the Great War.
Research Super Tax
Supertax was an additional income tax first levied by the Finance Act of 1909 upon incomes of over 5000 pounds a year at the rate of 6d in the pound for every pound by which the income exceeded 3000 pounds.
Research Supertax
Supply and demand are terms used in political economy to express the relations between consumption and production, between the demand of purchasers and the supply of commodities by those who have them to sell. The relations which subsist between the demand for an article and its supply determine its price or exchangeable value. When the demand for a commodity exceeds the supply the price of the commodity is raised, and when the supply exceeds the demand the price falls.
Research Supplu and Demand
Sweating was a term applied in the later decades of the 19th century to the practice of getting work done at minimum rates of pay through the medium of middle-men employers. The practice was particularly common in certain occupations such as clothing and the furniture trades. Work was given out by large firms to middle-men who accepted low prices and made a big profit on them by employing the poor, usually as home-workers, at minimal rates of pay and in terrible conditions. In 1888 a select committee appointed by the House of Lords revealed a grave and widespread social evil in the practice, which was stopped by the setting up of trade boards by which minimum wages were fixed. However, in the 20th century the practice returned, and while minimum wages were at last reinstated, these were largely avoided by the employment of illegal immigrant workers and legal, but naive immigrants.
Research Sweating
A sweatshop is a workshop or factory where the employees work long hours under bad conditions for low wages.
Research Sweatshop
Sycee (sycee silver) were silver ingots used during the 18th century as a medium of exchange in China.
Research Sycee
John Cleves Symmes and his associates, in 1787 bought a tract of land along the Ohio and Miami Rivers. The tract originally contained 1,000,000 acres, but was reduced later to 248,540 acres, because of the partial failure of the colonization plans. The first American pre-emption law was passed in 1801 for the furtherance of this scheme.
Research Symmes Purchase
A syndicate is a group of persons associated temporarily for the purpose of buying and re-selling a specific business or other property, or for forming a limited liability company prior to the issue of shares to the public.
Research Syndicate
|
Abbreviations
Money
