September 20, 1992
Last week's sudden currency crisis in Europe is less about the collapse of monetary values than the collapse of an idea. The idea envisioned 12 Western European nations overcoming centuries of bloody conflict to unite by century's end - one economy, one currency, one foreign policy. But the politicians who shaped this vision failed to consider sufficiently the concerns of ordinary citizens. Nor did they adequately assess the compromises each nation would have to make to reap the gains.
March 7, 1993 |
Through the second half of the 19th century and the early years of the 20th, U.S. currency celebrated the energy of the frontier, national expansion, the rise of technology and its own fiscal stability. The bills, larger than today's, were an engraver's paradise, for they offered a large area to fill with portraiture, landscapes, elegant lettering and often an array of color. One of the most famous engravings is Walter Shirlaw's Electricity Presenting Light to the World, a heroic tableau that spread across the obverse of currency printed in the 1890s.
April 9, 2004 |
In this brave new century, capitalism could finally gain a foothold in the government's business of making money. Really making money - printing currency and striking coins. The opportunity could come should the Supreme Court ever erase the motto "In God We Trust" from in front of Jefferson's nose or from the backside of currency. The court already has been asked to strike "one nation under God" from the Pledge of Allegiance - and if it does, civil-liberties groups have threatened to go after the currency motto as well.
November 25, 2004 |
The U.S. dollar slid to a new low yesterday against the euro, which rose to $1.3172 - breaking a day-old record as jittery markets kept up pressure on the U.S. currency. It was the seventh time this month the dollar has slid to a new low against the euro. The recent rally for the euro has taken it from $1.20 about two months ago, driven by concerns over the U.S. trade and budget deficits. Yesterday's trading brought the euro up from $1.3086 on Tuesday, according to EBS, an electronic currency-dealing system.
September 7, 1998 |
Despite the Asian and Russian economic crises, investment opportunities will become more global, and investors will seek more venues worldwide to get the best return, say Stanley M. Joffe and Stanley A. Barg, of Cozen & O'Connor. Joffe is chairman of the law firm's international-estates and tax group and the managing attorney for the West Conshohocken office. Barg is a member of the international-estates and tax group in the West Conshohocken location, one of 12 Cozen & O'Connor offices.
February 22, 1988 |
A roar went up on the floor of the Philadelphia Stock Exchange the other night. Traders and brokers crowded under the electronic billboard, elbowing each other out of the way. Someone had arrived with dinner from Burger King. So much for the night's excitement. The men quickly downed their Whoppers and onion rings, then returned to their games of gin rummy and Nerf basketball. Last September, Philadelphia's stock exchange became the country's first to trade foreign currency options at night.
November 15, 1992 |
The United Nations will continue heralding its Universal Declaration of Human Rights on Friday with six commemoratives featuring the text of the document and works of art. The stamps will include Articles 19 through 24, with the declaration printed on attached tabs, or margins. This is the fourth year of the series; it will be completed next year with the final six articles. Article 19, upholding the freedom of expression, and Article 20, proclaiming the freedom to hold peaceful assembly, will be depicted on stamps of 29 cents and 50 cents U.S. currency.
April 8, 1994 |
LITHUANIA'S BECOME SO FLUSH IT NOW HAS MONEY TO FLUSH Lithuania's old money, replaced last year by a new currency, has been put back into circulation - this time as toilet paper. In 1992 the former Soviet republic introduced a temporary currency, called the Talonas, during a transition from the Soviet ruble to its own legal tender, the Litas. Now, the government is emptying bank vaults of 30 tons of worthless Talonas notes and sending them to the Grigikes Paper Factory in Vilnius for conversion into toilet tissue.
November 4, 2003 |
Andrew Jackson looks rakish though still forlorn, his eyebrows gathering stormclouds of woe. Expanded to a medium close-up and freed from the handsome oval, Old Hickory appears to sport a cape - a positively Heathcliffian portrait of our seventh president. The new $20 bill, introduced last month and slowly working its way into wallets, can no longer be called a greenback. Peach, azure and mint, it's a rainbowback. It's not filthy lucre. It's pastel lucre, featuring "Twenty USA, USA Twenty" in a Wavy Gravy-Grateful Dead-Ben & Jerry's kind of type.
June 12, 1995 |
MEDELLIN, COLOMBIA BOMB KILLS 29; SUSPECT NABBED; 625G REWARD SET Dozens of police patrolled a blood-spattered plaza yesterday, guarding the site where a bomb killed 29 people in a lethal hail of shrapnel at a crowded outdoor music festival. Authorities said 205 had been injured. One suspect was arrested, and authorities offered a $625,000 reward for information leading to the arrest of others. Even in a city accustomed to violence, the Saturday-night bombing was no ordinary attack.