St. Francis Of Assisi Essay -- essays research papers

St. Francis of Assisi was born in Umbria in the year 1182. He was a child every father hoped for, he was filled with life, a determined and courageous individual. He was gifted with rather good looks, qualities that attracted friends and a gift of leadership. His father was an extremely wealthy merchant in Assisi. But this son, his favourite, was the one who broke Peter Bernardone’s heart. The boy turned on his father, and in a vicious event that eventually resulted into a public scene. St. Francis of Assisi stepped away from his father, his business and left his father in a state of immense emotional suffering. Francis joined the military at the age of 20. Prior to this date (1202), the favoured son showed his parents that he would like to follow his own life, not in the footsteps of his father. After his enlistment, he struggled heroically in one bloody battle, but his troop experienced defeat. Taken prisoner of war, he was held captive for several months, then released and sent home. His parents were joyful and made up to him for the long months of suffering by showering him with affection. Francis probably enjoyed receiving extra money the most from this. Being a prisoner of war did take a toll on Francis. His body became so sick that he almost died and it took over a year to recover. It was during this year that for the first time in his young life, he did some serious pondering. He explored the age old problems, "What am I?", "Where do I come from?", "Where am I going", "What is this world?" and "What is love?". St. Francis was an Italian Catholic and a talented poet. As an Italian, his heart moved naturally to deep affection, love and enjoyment. As a poet, he could see right through the outcome of those answers. One night during a dream, he saw his house turned into a palace. The walls of this palace were hung with glorious armory, banners, shields, and swords – all instruments of war. Suddenly he heard a voice, it explained that this was to be his palace, the gathering place for all his knights. The arms were theirs, the banners, and tokens of their countless conquests. To complete this wonderful dream, a gorgeous bride awaited him. St. Francis awoke charmed. A few days after that, he left Assisi to go to Southern Italy to enlist. He reached Spoleto, wh... ...Gospel with the greatest amount of individual liberty and the minimum of regulation. Cardinal Hugolino, the late Gregory IX, assisted Francis in the completion of the Rule of in 1223. All this effort took its tool on the health of Francis, he started realizing that he was nearing the end of his life. Since he believed he had lived like Christ, he pleaded to die like Christ. In 1224, accompanied by a few followers, he marched up the Alvernia Mountain, near Assisi to pray. At this time, Francis and Christ shared words with each other. Extreme exchanges were made between both sides. Francis told Christ about his request, to his wonder, the crucified figure of Christ surfaced to him. When Francis stepped back, he discovered that his body had wounds located in the same five areas that Jesus suffered on the cross. During the last two years of Francis’ life, his health was destroyed. He felt tremendous pain in his eyes, spleen, and liver, stomach and have contracted malaria. Francis knew his last days were nearing. He asked his attendants to sing to him, for Francis enjoyed the sound of music. St. Francis died on October 3rd, 1226, while singing his nature song, Canticle of the Sun.

Cemetery billing and mapping system Essay

1.0 INTRODUCTION Technology has grown over the years and has made the life of mankind much easier. Technology is all around us and shows no sign of disappearing. It helps enhance the quality of life and business by doing many of our everyday tasks, which leaves more time to spend on more demanding and tedious matters. Computers are a great aid for businesses in terms of making a system from different aspects faster, proficient, and reliable. Computerized systems can generate reports and records in a fraction of the time compared to manual methods. Today, many of the world’s successful companies use computers for record keeping and report generations. Only a few have yet to adapt to the idea of computerized systems and continue to use a manual method of writing and recording in logbooks. Paraiso Memorial Park, Inc. is a privately owned cemetery located in Ampid II San Mateo, Rizal. Their main office is located at Door No. 12 Marietta Arcade MR Center, Marcos Highway, San Roque Marikina City. The cemetery first opened in November, 1973, by Mr. Romeo M. Liamzon. It is currently being led by their president Marietta Liamzon, the wife of the late Mr. Romero M. Liamzon. Paraiso Memorial Park, Inc. offers memorial services and lots for the deceased. Having a computerized Billing and Tracking system will help provide a proficient way to record, organize, and store data, regarding the client’s information. The system will help lessen the time and workload of the companies’ employees by giving faster, organized, accurate, and reliable information and records. 1.1 Background of the Problem In today’s modern age, computer has become a way of life; it is very evident that a majority of the country’s businesses still have not yet adapted to high technology. Particularly in most independent companies, daily transactions are still done on paper or old computer practices. We all know that modern offices are now operating at great pace striving to serve as many clients as possible with the best of their abilities. Although, as the years roll by, the number of clients and customers have grown and various record cases arise from these manual methods of managing clients’ records. Paraiso Memorial Parks, Inc. is a private cemetery located at San Mateo, Rizal. It was formerly founded by Mr. Romeo M. Liamzon, the late husband of President Marietta Liamzon, on November 1973. It currently has more than 20,000 customers and still continues to increase. It has (28)twenty-eight hectares of lot which are classified into five different types of memorial lot (1) lawn lot, (2) court, (3)presidential, (4) family estate, and (5)apartments (see attachment D-all. ), and are classified into 3 kinds of lots which is (a)Regular lot (b)Special (c)Premium Special. Paraiso Memorial Park, Inc. has surely grown over the years and along with it, its customers; the increasing numbers has been neglected over the years and therefore some of the processes of Paraiso Memorial Park, Inc. are in need of modification or update. Paraiso Memorial Park, Inc. is currently using a manual method of Billing and Tracking system. This manual method is prone to human errors and requires a considerable amount of time and effort. When computing the payments of a customer, wrong input into a ledger due to human errors can result in creation of a new entry, which consumes valuable time and effort. This leads to the delay of posting on the payments of a customer. There have also been cases where a page or the whole ledger is lost, damaged, or misplaced. It can be troublesome in finding the misplaced page or reproducing a damaged page. The filing of records is also a manual method of writing down information and then storing them into file cabinets. Records can be lost or misplaced from not being properly inserted into the file cabinets. If a request is made to view the record of a specific client, the employee must search through each folder of the file cabinet, which is very time consuming. Records and data lack security. Customer information is at risk to unauthorized viewing. Since there is no lock on the ledgers or file cabinets, anyone can gain access and view records or customer information. Once a customer has been issued a customer booklet, there have been cases where in a customer will forget to bring their customer booklet when giving a payment of installment. The employee will have a hard time finding the account of the customer since the contract number is unknown. They will search manually through each ledger, name by name. This becomes a problem since their ledgers are not organized in alphabetical order. In tracking a specific grave for customers, relatives, or visitors who do not know or remember the address of the lot, Paraiso Memorial Park, Inc. will search through several blotters for the name or address of the requested lot. The blotters are not arranged in alphabetical order, so the employee must search thoroughly name by name. The tallying of the available lots in Paraiso Memorial Park can be strenuous with the large number of overall lots in Paraiso. In order to find out how many lots are still available for sale, employees must compile the information gathered from numerous blotters. 1.2 Overview of the Current State of the Technology Paraiso Memorial Park, Inc. has valid agents that are authorized to assist old customers and especially new clients that are willing to buy. There are 20 transactions averaging per day and Paraiso Memorial Park, Inc. has 20,000 customers (already fully paid) to serve. There are two ways to inquire a lot in Paraiso Memorial Park Inc.; these are the following; Inquiring to avail a lot in Paraiso Memorial Park First customers inquire through an agent in the park which is called â€Å"The Officer of the Day†. This agent usually holds a Plan of the Park, Pricelist of the kind’s lots in Paraiso Memorial Park, Sales Application Form, Individual Application for Creditor and Contract to Sell. Customers may then ask about the price of the lot, kinds and classification of lot, terms and condition of payments, and how the customer will pay (cash or check) and where. The Agent will occasionally accompany their client throughout the park if requested; if the customer is willing and agrees to buy the lot, the agent checks the lot plan if the requested lot is available or not, then double checking it by calling the main office located in San Roque, Marikina City. If the availability of the lot requested is confirmed available, the agent will then present the Sales Application Form and Customer Data Sheet, Application Form for Individual Application for Creditor, and Contract to Sell to be filled up by the customer. The said forms stipulate the policy of the company regarding lot utilization, rules, and regulations. The agent and the customer will begin scheduling a date and time for when they will go to the main office for verification of data and issuance of a deposit slip. This deposit slip will be presented to the bank (Life Saving Bank besides the main office) upon payment. Afterwards, they will return to the Main Office for the issuance of official receipt, and the customer booklet depending if customer is in installment basis. Inquiring to avail a lot in Paraiso Memorial Park Inquiry through the Paraiso Memorial Park main office; located in San Roque, Marikina City. There is also an agent there called â€Å"The Officer of the Day†. Customers inquire through this agent and follow the same steps and procedures as if at the park office inquiry, except the customer cannot survey the memorial lots. The checking of availability of the requested lot is also quicker, since the main office holds the blotter. Issuance of the â€Å"Certificate of Ownership† will be given within a month after the full payment to have it prepared and signed by the official signatory and a PHP500.00 fee will be charge. The Contract to sell will be given to the buyer once it is signed by the official signatory that is within a month of the first payment. Along with the Contract to Sell is the Perpetual Care Fund in a form of trust amounting to PHP 5, 500.00 to PHP 132, 000.00 depending on the lot. (See Attachment C-7) Paraiso Memorial Park accepts all kinds of Check, whether Post-Dated Check or Personal Check. When a customer gives a post-dated check Paraiso Memorial Park prints out in a paper the information on the post-dated check and signs it saying Paraiso Memorial Park Inc. receives the post-dated check. The Individual Application for Creditor is a form of Insurance wherein if the conditions are met, a PHP 20,000.00 will be deducted to the remaining balance of the buyer. (See Attachment C-3.) If the customer is unable to pay according to the payment terms, a penalty will be given depending on how long the customer is overdue. A three (3) month grace period is given before charging for the penalty interest. Paraiso Memorial Park, Inc. offers up to six (6) terms of payment. (See Attachment C-21 and C-22). If the customer needs to use his/her memorial lot for burial purposes (Interment), she/he must pay in full or in cash in order for the lot to be used or utilized. Paraiso Memorial Inc. will provide an Interment Form which is only provided in the Main Office. The authorized (beneficiaries) customer will fill-out the interment form and apply for an interment. Issuance of deposit slip is also given by the cashier at the main office for paying the interment fees at the bank (Life Saving Bank beside the main office of Paraiso Memorial Park Inc.). After paying, the customer will then return to the main office for the issuance of Official Receipt. Then Information is now recorded into the interment sheet. When a customer is at-need (customer needs a memorial lot for immediate burial), he/she must pay in full or in cash in order for the lot to be used or utilized, take note that in this kind of transaction, the lot price is much higher than pre-need sales. The Sales Application Form, Customer Data Sheet and Contract to Sell are now manually recorded into two (2), one is the â€Å"Blotter† and the other is the â€Å"Subsidiary Ledger†. The Subsidiary ledger contains information about a single account, while the â€Å"Blotter† contains the information of the purchased memorial lot. The Tracking process or finding the availability of lots in Paraiso Memorial Park Inc. is done by manually scanning the lot plan and blotters. The lot plan is the map of Paraiso Memorial Park; this is categorized by Area and Garden, and is arranged by blocks/lots (see attachment C-25). Availability of the lot can also be seen here. The Blotter contains lot area, contract no., name of buyer, date availed and the remarks (if lot is fully paid or not). Paraiso Memorial Park, Inc. constantly updates their lot plan and blotters to remove the occurrence of double sales. The Park checks once a year the overall number of available lots up for sale. Currently Paraiso Memorial Parks has 25,000 lots. 1.3 Project Rationale A computerized billing and tracking system is very important in the succession of adaption on monitoring billings and customers of Paraiso Memorial Park Inc. This brings vast opportunities for development of Memorial Companies whereas data is already in their grasps. To the company, it is intended to take full advantage of current technologies that provide you with the ability to maximize your resources, increase productivity, improve accuracy and promote great cost effectiveness. To the employee, it is developed with functions which help save time and effort. It also provides an easy access to the authorized personnel only and performs automatic computation for billing. To the customer, the best information and services are ready to serve and a faster billing process is given, creating less hassle on paying bills. To the future researcher, this will guide them as a reference for their future subjects related in this study and can then be improved as technology and knowledge is growing. To STI College Marikina, this will serve as a reference to future students and will give them idea in creating or building a system of their own. This project aims to design and provide a methodology and its associated tools in order to support the integration of applications and process which have not necessarily been designed to coexist for memorial parks and competitive business.

The Real Risk Of Playing Football - 964 Words

The Real Risk of Playing Football From the age of eight years old I loved to play football. I looked up to those who had made my favorite pastime a profession with a sense of idolization. The speed, strength and aggression they used to play the game left me in amazement and with goals to play more like they did. But I have one specific memory that stands out above the rest. It was the first time I had ever seen someone carted off the football field for an injury. In this case it was a torn ligament in the knee. The rest of my time playing football I was told how dangerous it was and that it would ruin my body, which in many ways it did even before I turned 18, but until only a few years ago nobody had yet fathomed that it would do far worse damage to a player’s mind. CTE is the abbreviated name for the trauma caused to the brain after multiple concussions which is most commonly found in football players. It has horrific side effects similar to schizophrenia and it is excruciatingly painful. It can cause a person to hear voices and even have a strong desire to follow what those voices tell him or her to do. This has opened a new age in football by introducing an old question with new force, is there anyway to make football safe enough to play? For years people have found ways to make football safer for the body by introducing new technologies in padding specifically the helmet and knee braces. This is because until now that was believed by the general public to be the onlyShow MoreRelatedPros And Cons Of Tackle Football1161 Words   |  5 PagesYouth tackle football is a popular sport for children today but this sport can have pros and cons. One of the most controversial sport that a child can play is tackle football. Tackle football is a full contact sport. In any full contact sport, there are risks like concussions, injuries and the lasting effects of those injures. There are also pros in playing this sport like teamwork, sportsmanship, character, and exercise. Youth football can also have psychological pros and cons that can affectRead MorePersuasive Essay Football759 Words   |  4 Pages Football is often labeled as a dangerous, unsafe sport, but there are many good things that come along with playing football. In the past two weeks I have learned about the risks that accompany football. Many kids suffer with concussions and face injuries from the sport, which scares many people away. But, despite the risks and the unsafe label, I would allow my child to play football because it promotes health, builds friendships, and helps gain toughness. The first reason why I would let myRead MoreFootball Persuasive Essay1066 Words   |  5 PagesFootball is one of the most popular sports in America. A total of 1.3 million children ages 6-12 played tackle football in 2015 (Farrey). In football, two teams of 11 players on the field face off against each other. 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Within a decade, concern over the increasing brutality of the game led to its ban by some colleges. Nearly 180 players had suffered serious injuries. At a meetingRead MoreThe Negative Effects Of American Football1045 Words   |  5 PagesAmerican football has existed for more than an entire century, becoming one of the most popular sports to still exist in the modern United States. It is widely played by American males of all ages, ranging from toddlers in pop warner leagues to men in their late thirties that are just finishing their professional careers in the National Football League. Due to the vast amount of options that are available to people during their first forty years of living, there are some players who play this sport

Agnes Macphail Biography

About Agnes Macphail: Agnes Macphail was the first Canadian woman to be a member of parliament, and one of the first two women elected to the Legislative Assembly of Ontario. Considered a feminist in her time, Agnes Macphail supported issues like prison reform, disarmament, international cooperation and old age pensions. Agnes Macphail also founded the Elizabeth Fry Society of Canada, a group working with and for women in the justice system. Birth: March 24, 1890 in Proton Township, Grey County, Ontario Death: February 13, 1954 in Toronto, Ontario Education: Teachers college - Stratford, Ontario Profession: Teacher and columnist Political Parties: Progressive PartyCo-operative Commonwealth Federation (CCF) Federal Ridings (Electoral Districts): Grey South EastGrey Bruce Provincial Riding (Electoral District): York East Political Career of Agnes Macphail: Agnes Macphail was elected to the House of Commons in 1921, in the first Canadian federal election in which women had the vote or could run for office. Agnes Macphail was the first woman to be elected to the House of Commons.Agnes Macphail was the first woman appointed as a member of a Canadian delegation to the League of Nations, where she was an active member of the World Disarmament Committee.Agnes Macphail became the first president of the Ontario CCF when it was established in 1932.Agnes Macphail was a major influence in the establishment of the Archambault Commission on prison reform in 1935.She was defeated in the 1940 general election.Agnes Macphail wrote a column on agriculture issues for the Globe and Mail.She was first elected to the Ontario Legislative Assembly in 1943, becoming one of the two first women to be elected to the Legislative Assembly of Ontario.She was defeated in the Ontario election in 1945.Agnes Macphail was re-elected to the Ontario Legislative Assembly i n 1948.Agnes Macphail contributed to the adoption of Ontarios first equal pay legislation in 1951.

Essay on Workplace Diversity - 1262 Words

Project Teams and â€Å"Workplace Diversity† Charles Baker June 21 2013 CIS 3317 Mr. Kevin Jetton Overview As I have been designated as the Project Leader/Manager of the new information technology system that is currently being developed, it is my duty to bring together the partner firms as to support and stimulate the swift and thorough development of this new technology. Due to the high level of expertise of this German firm, we have selected them to partner with us as we begin the development process. We understand that the barriers of the oceans, as well as the time zones, have created a hurdle in the communication that is necessary to complete the project within the short deadline that was given to us. For this†¦show more content†¦On the Masculinity/Femininity (MAS) dimension, Germany and the US are fairly close, scoring within 4 points of each other. Both societies are considered fairly masculine, and the people tend to prefer to â€Å"live to work† not â€Å"work to live†. Americans place more importance on personal successes, as this tends to be a sign of m erit among co-workers, yet Germans draw their merit from their own personal sense of achievement, and dont rely on the praising of their co-workers. Status symbols are similarly prevalent in both societies and can improve ones status rather quickly. The UAI category, or uncertainty avoidance, is one of the stronger, if not the strongest, difference between German and American business culture. The Germans typically tend to avoid uncertainty at all costs, testing, and thoroughly planning each and every aspect of a project before moving forward, this includes thinking, and presenting as well. As mentioned on the Hofstede Centre website, this can be traced back to a long history of German thought, â€Å"from Kant, to Hegel, to Fitche†, and ensconces many parts of their society, not just business. The Americans on the other hand, have been known to handle uncertainty fairly well, and some believe this may be one of the cultural causes of the continual innovation that seems to flo w out of the country. With this aspect of uncertaintyShow MoreRelatedThe Impact Of Workplace Diversity On The Workplace997 Words   |  4 Pages Workplace diversity is a term which describes the inclusion of people in the workplace regardless of their cultural differences such as gender, race and sexuality. Rather than disregarding them, diverse workplaces utilise these differences to widen the range of experiences and skills among their employees as stated by the Australian Breastfeeding Association (2012). Some professions, however, are more diverse than others. 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Maximizing and capitalizing on workplace diversity has become an important issue for management today (UCSF). Workplace diversity refers to having a variety of different types of people working together within a place of business. Employee gender, race, religion, sexual preference, physical appearance, family or marital status, education, culture, personality, or tenure establishes diversity in the workplace. Diversity is rapidlyRead MoreThe Impact Of Diversity On The Workplace1609 Words   |  7 Pages3.2. Positive impacts The diversity has always been a concern for businesses and governments because the minority can feel sometimes left out and excluded for the employment sector. Therefore it has always been a priority for any government. They want to prove that they have been elected and are representing the entire population not just a group of people. Also businesses want to send a good image to their customers that they care about everyone even the minority. 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On Course Journal Entry Free Essays

Dick Gregory, The Memoir of Dick Gregory by. Dick Gregory, Slavery by Another Name by. Douglas A. We will write a custom essay sample on On Course Journal Entry or any similar topic only for you Order Now Blackman, The Autobiography of Malcolm X by. Alex Haley, and Stolen Legacy just to name a few. I also watched documentaries; Hidden Colors 1-3 and Dark Girls. I also studied a couple museums, the most recent being the one in contribute of Martin Luther King and Accelerator Scott King in Atlanta. I talked amongst other individuals who were interested in the topic, as well. B. What do you do to learn the Information or skills needed to learn this? I read more than anything else. I was so intrigued by what I was reading and how it all was so connected to modern day society I just continued to read and make notes mostly. C. What did else do you do to learn this? I spoke to other people who were also interested In the topic and we all shared our new found knowledge to expand the wisdom we were digesting. I looked at some African pictures and old news articles. I also, consumed Information off the Internet. The more I learn the more I realize there is so much connected to present day activities. So, I still to this day study this topic. D. How often do you engage in learning this? I honestly engaged in this study every day. I have a whole collection of books pertaining to the subject, sometimes I think so many books so little time. E. When you engaged in learning this, how long did you usually spend? My studies were constant. I’m talking at least 6 to 7 hours out of the day usually. That was before school started of course, now it’s more so 2 to 3 hours every other day. F. What feedback did you use to determine how well you learned this? When I enlightenment. They were quite fascinated with my learning in such short period of time. Some people didn’t believe me, but those are the closed minded individuals who are content with what they were taught in the American education system about their ancestors Just being nothing more than slaves. G. How did you feel when you engaged in learning this? At first I was filled with anger and disappointment. Then, I found balance in it as I do in everything. Know I’m actually glad that they chose us. I feel so alive, empowered, conscious, and mindful now, the list can go on and on. Just so many emotions! So many volumes of life have taken over me that I have a totally new found perception. H. What are the rewards for learning this? There are an astonishing deal of rewards in regard to this lesson, including knowledge of self being my number 1 gain. I got closer to myself and my spirituality, discovered my destiny in the mist of it all by coming into visualization of what I want to do with my life. I can go on in a great abundance on what this topic has taught me and brought forth into my life. I can truly say I am grateful for the experience and I wish to enlighten others so they come into realization of who they are and what they mean to America. Part 3. By reading and writing about learning, I have relearned that if you want to know and/ or understand something it takes hard work and dedication. I will use this knowledge to maximize my learning in college by taking great pride in my work. When I stepped on the campus of Eastern Florida College to enroll I knew I was ready and by any means necessary I will stay motivated. I wish to understand everything that is being taught to me. I am a very active learner so a lot is already hitting home. I now when things do decide to get tough I will seek greater explanation of the topic. I was informed there are tutors. There are plenty of methods I can take to absorb information. My most dominant styles of learning are logical learning; I prefer using logic, reasoning, and systems. And Solitary(interpersonal) self-study learning. I also like sound such as aural learning sometimes to remember certain things. These are styles I use when I am working on school lessons. There are other styles I prefer when it comes to labor or something else. I enjoy writing things down a lot. I see theirs is a lot of work in college. I’m not sure if it’s due to the classes being 8 weeks or f it’s always like this, but it seems it can get a little intense if you’re not organized or focused. I have a schedule around my lesson and I still find the time to get all of my work done with no distractions. So, honestly when it comes to learning I think it depends on the individual and how bad they want their education. I know what I am her for, I am willing to take every calculated step in order for me to absorb the information. And again, I am not interested in taking in information Just to take a test. I’m not here to regurgitate information! I’m trying to fully understand everything Hess teachers are supposed to be teaching me. â€Å"Education is the most powerful weapon we can use to change the world†. It sure didn’t surprise me when we were asked, if we won the lottery would we still be interested in coming to college? Students were more interested in the illusion of having money. Fortunately, I am not motivated by money. I wish to make a difference in the world that’s my motivation. Making a better society for my son and the other generations to come. I have great desire to touch every life around me, like Vive been doing since birth. How to cite On Course Journal Entry, Papers

British Pound of Sterlings free essay sample

If you had 240 of them, you had one pound in weight a vast fortune in the 8th century. A century and a half later Athelstan, the first King of England, founded a series of mints and made sterling a national currency in 928. In 1124, a disgusted Henry I had 94 mint workers castrated for producing bad coins. Sterling retained importance through the middle ages. Before the foundation of the Bank of England, the Tower of London was the store for spare money. Silver penny were the only coins right through until the 13th century and silver was the currency standard till the 18th century, when gold became the basis of the pound. The Bank of England and paper money In 1694 King William III established the Bank of England to fund his fight with France. Goldsmiths had issued bank notes promises to pay set against gold deposits from the 16th century, but although the Bank of England was the first central bank in history, it has not always had exclusive control over the pound. But crime arrived quick on the banknotes tail. By 1695 the first fraud happened. The authorities fined one Daniel Perrismore for forging 60 ? 100 notes a lot of money in the late 17th century. Than the bank introduced a watermark to stop fraud, and the crown introduced the death penalty for counterfeiting. The Bank provided stability, but the pound still suffered from market ups and downs. The first ? 10 note was printed in 1759, when the Seven Years War caused severe gold shortages. Inflation fears of war with France led to the first ? 5 note in 1793. Sterling banknotes were originally handwritten, although the notes were part printed from 1725. The Bank began to print the notes in 1855, no doubt to the relief of their workers. The Gold Standard and Sterlings Supremacy The principle of the standard, that a nation must back its banknotes with the equivalent in gold, established exchange rate stability. Sterlings strength was the basis of the gold standard, and was behind a sustained period of global growth right up until to 1914. Stability based on gold helped British investors and traders. Global finance took off, ushering in an era of gentlemanly capitalism when British investors poured money into offshore investments, protected by the immense strength of sterling and the might of the British Empire. Sterling was the global economys lifeblood. During the 1890s and 1900s the outflow of capital reduced Britains productivity and contributed to a slow decline in sterlings face value. World War One The rate of exchange for sterling had been unchanged since Sir Isaac Newton set it in the 18th century, when he was Master of the Mint. The value was very out of date. However, during the War the pound was overvalued by 10 per cent, when Winston Churchill returned sterling to the gold standard in 1925. The End of the Gold Standard By the end of 1925 the economics of the coal industry had collapsed, and 1926 brought not stability, but a six-month coal strike, that’s why the standard broke down globally between 1930-1933. The pound remained afloat until 1939 and the outbreak of World War Two. World War saw a great increase in forgery, as Germanys Nazi government sought to weaken sterling by spreading counterfeit notes. To counter the fraud, the Bank introduced the metal thread during the war to differentiate its issue from Germanys, and stopped producing some of the higher denomination notes. Reconstruction at Bretton Woods The Bretton Woods conference in 1944 heralded the end of sterlings predominance in international trade, and the triumph of the American dollar. But each country, including Britain, would define the value of its currency in dollars, and the U. S. would tie the value of the dollar to gold. The world simply did not have enough gold for every currency to hold reserves. In theory there was still a link to gold to impose a discipline on the system, but the pound was not a popular reserve currency. After the war, rumours swirled that sterling was to devalue, and so many countries converted their pounds to dollars. The pound was devalued by 30 per cent in 1949. The enormous postwar balance of payments deficit was just too much for the UK. Sterlings weakness and decline became too obvious. National banks wanted dollars not pounds. Not a penny less: the 1967 Devaluation In 1967 the currency wasdevalued again, this time by 14 per cent. Overseas, the sterling currency was of lesser importance. Dollars were more alluring and as many thought stable. But in 1971 President Nixon devalued the dollar a response to damage done by the Vietnam War and opened the gates to a new era of floating exchange. The stability of the postwar settlement was over. The currency snake Meanwhile 1972 saw the first efforts to fix the pound to other European currencies. At the start of the year the four major European Economic Community currencies sterling, the deutschemark, the French franc and the Italian lira formed the so-called snake. The economic bloc then floated their currencies together on the markets, each country having responsibility for the stability of its currency within parameters. The experiment failed, though, not long off the ground. Sterling dropped out after only six weeks, weaker than ever, bowing to the dictates of the markets. ERM to today Since 1992 the pound has floated free although the Government has tried, and succeeded, in maintaining an inflation rate broadly in line with Europe. In October 1992 this target range was initially set at zero to four per cent, but later revised to 2. 5 per cent with a one per cent band on either side by Tony Blairs New Labour government. This is a remarkable achievement given how prone the UK is to inflation and appears to herald a new economic convergence with Europe and maybe a new currency, but it remains to be seen wheteher the euro will herald the end of the worlds oldest currency.