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80-537: Van Nuys is home to news, medical transport, and tour helicopter operators, the air operations unit of the Los Angeles City Fire Department , and a maintenance base for Los Angeles Police Department and Los Angeles Department of Water and Power helicopters. Originally opened as Metropolitan Airport on December 17, 1928, the airport became the Van Nuys Army Airfield during World War II,

160-484: A Secretary. Community Liaison Unit is Commanded by a civilian Public Information Director, who holds the assignment of Community Liaison Officer. It Maintains regular business hours (Monday-Friday). Community Service Unit is Commanded by a Captain I (Unit Commander), who holds the assignment of Department Public Information Officer. It Maintains regular business hours (Monday-Friday). The Community Service Unit also consists of three Public Service Officers (PSOs) who hold

240-756: A Secretary. The primary objective of the Risk Management Section is to augment the line functions of the department by administering the department's In-Service Training Section, the Recruit Training Section, and the Quality Improvement Section. Specialized personnel assigned to Risk Management include the Department Safety Officer. The majority of personnel assigned to the Section maintain regular business hours. Records Unit

320-609: A Senior Personnel Analyst II. Personnel Services Section is Commanded by a Senior Personnel Analyst I (Section Commander). Selection Unit Selection Unit is composed of three Personnel Analysts and one Senior Administrative Clerk.Civilian & Sworn selection, Bilingual, Advanced Vacant Step Hiring (Civilian), Advanced Starting Salary Falls & Education Bonus (Sworn) Records Unit Consists of one Senior Personnel Analyst I, one Personnel Records Supervisor, one Personnel Analyst, two Senior Administrative Clerks and one Office Services Assistant. Fire Prevention & Public Safety Bureau

400-482: A dollar are emitted as Federal Reserve Notes , disregarding these special cases: In the 16th century, Count Hieronymus Schlick of Bohemia began minting coins known as joachimstalers , named for Joachimstal , the valley in which the silver was mined. In turn, the valley's name is titled after Saint Joachim , whereby thal or tal , a cognate of the English word dale , is German for 'valley.' The joachimstaler

480-735: A dollar, and dimes at 0.100 of a dollar. After the adoption of the United States Constitution , the U.S. dollar was defined by the Coinage Act of 1792 . It specified a "dollar" based on the Spanish milled dollar to contain 371 + 4 ⁄ 16 grains of fine silver, or 416.0 grains (26.96 g) of "standard silver" of fineness 371.25/416 = 89.24%; as well as an "eagle" to contain 247 + 4 ⁄ 8 grains of fine gold, or 270.0 grains (17.50 g) of 22 karat or 91.67% fine gold. Alexander Hamilton arrived at these numbers based on

560-622: A few cases, U.S. coins) used in circulation. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . As of February 10, 2021, currency in circulation amounted to US$ 2.10 trillion , $ 2.05 trillion of which is in Federal Reserve Notes (the remaining $ 50 billion is in the form of coins and older-style United States Notes ). As of September 20, 2023,

640-535: A grain of pure, or four hundred and sixteen grains of standard silver. Section 20 of the Act designates the United States dollar as the unit of currency of the United States: [T]he money of account of the United States shall be expressed in dollars, or units...and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. Unlike

720-566: A limited extent" as money. Treasury Notes were again printed to help resolve the reduction in public revenues resulting from the Panic of 1837 and the Panic of 1857 , as well as to help finance the Mexican–American War and the Civil War . Paper money was issued again in 1862 without the backing of precious metals due to the Civil War . In addition to Treasury Notes, Congress in 1861 authorized

800-649: A series of revisions to the gold peg was implemented, culminating in the Nixon Shock of August 15, 1971, which suddenly ended the convertibility of dollars to gold. The U.S. dollar has since floated freely on the foreign exchange markets . Congress continued to issue paper money after the Civil War, the latest of which is the Federal Reserve Note that was authorized by the Federal Reserve Act of 1913 . Since

880-487: A treasury assay of the average fine silver content of a selection of worn Spanish dollars , which came out to be 371 grains. Combined with the prevailing gold-silver ratio of 15, the standard for gold was calculated at 371/15 = 24.73 grains fine gold or 26.98 grains 22K gold. Rounding the latter to 27.0 grains finalized the dollar's standard to 24.75 grains of fine gold or 24.75*15 = 371.25 grains = 24.0566 grams = 0.7735 troy ounces of fine silver. The same coinage act also set

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960-616: Is Commanded by a Captain I (Unit Supervisor) who is also an Incident Safety Officer. Also consists of two Senior Administrative Clerks and one Administrative Clerk. Injury prevention unit is Commanded by a Captain I (Unit Supervisor) who is also an Incident Safety Officer. Also consists of a Certified Athletic Trainer. Medical liaison unit is Commanded by a Captain II (Unit Supervisor). They are assisted by four Captain Is (assuming one for each Bureau?) and one Administrative Clerk. Administrative services bureau

1040-600: Is Commanded by a Deputy Chief (Bureau Commander), who also holds the title of Fire Marshal. They have a CAD designation of 'CM5' and a radio designation of 'Command 5'. Assistant is commanded by an Assistant Chief (Assistant Bureau Commander), who also holds the title of Assistant Fire Marshal. It Also consists of a Secretary and Management Analyst. United States dollar This is an accepted version of this page The United States dollar ( symbol : $ ; currency code : USD ; also abbreviated US$ to distinguish it from other dollar-denominated currencies ; referred to as

1120-414: Is Commanded by a Fiscal Systems Specialist II (Section Commander). This Also consists of one Fiscal Systems Specialist I, one Senior Auditor, one Auditor I and one Accounting Clerk. Accounting Services Section is Commanded by a Departmental Chief Accountant III (Section Commander). Human Resources Division is Commanded by a Personnel Director II (Division Commander). Selection and records is Commanded by

1200-468: Is Commanded by a Senior Management Analyst II (Section Commander). Budget Preparation/Control Budget Preparation/Control is under the command of three Senior Management Analyst Is, one Management Analyst and one Management Assistant. Revenue Management Section is Commanded by a Senior Management Analyst II (Section Commander). It Also consists of two Senior Management Analyst Is, one Management Analyst and one Management Assistant. The EMS Records Section

1280-452: Is Commanded by a Senior Management Analyst II (Section Commander). EMS Records Unit EMS Records Unit is Commanded by a Senior Management Analyst I (Unit Commander). Also consists of one Senior Administrative Clerk, four Administrative Clerks and one Management Assistant. Contracts Unit Contracts Unit is Commanded by a Senior Management Analyst I (Unit Commander). Also consists of one Management Analyst. Fiscal Systems and Audit Section

1360-584: Is Commanded by the Fire Administrator (Bureau Commander), who has a CAD designation of 'FA1' and a radio designation of 'Fire Administrator'. Assisted by a Secretary. The primary objective of this Bureau is the implementation of administrative staff functions in accordance with current policies and procedures as established by the Fire Chief. Financial Services Division is Commanded by a Chief Management Analyst (Division Commander). Budget Management Section

1440-574: Is assisted by an Executive Administrative Assistant II, Administrative Clerk and a Battalion Chief who has the title of 'Executive Officer, Administrative Operations'. All taken from RISK MANAGEMENT SECTION OVERVIEW Board of Fire Commissioners Report. risk management section is Commanded by a Battalion Chief (Section Commander) who has the title 'Department Health and Safety Officer'. They are assisted by one Captain II (Chief Litigation Officer / On-Call Incident Safety Officer), one Captain I (Department Safety Coordinator / On-Call Incident Safety Officer) and

1520-454: Is one of the first words of Section 9, in which the term refers to the Spanish milled dollar , or the coin worth eight Spanish reales . In 1792, the U.S. Congress passed the Coinage Act , of which Section 9 authorized the production of various coins, including: Dollars or Units —each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of

1600-617: Is sometimes also referred to as the Los Angeles City Fire Department or "LA City Fire" to distinguish it from the Los Angeles County Fire Department , which serves unincorporated areas and, via contracts, other incorporated municipalities within Los Angeles County without their own fire departments. The department is currently under the command of Chief Kristin Crowley . The Los Angeles Fire Department has it origins in

1680-455: Is that it is derived from the Pillars of Hercules on the Spanish coat of arms of the Spanish dollar . These Pillars of Hercules on the silver Spanish dollar coins take the form of two vertical bars ( || ) and a swinging cloth band in the shape of an S . Yet another explanation suggests that the dollar sign was formed from the capital letters U and S written or printed one on top of

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1760-611: The 146th Airlift Wing shifting to Naval Air Station Point Mugu (now Naval Base Ventura County ) in Oxnard . In 1994, the now-vacated National Guard buildings became a critical operating site for the American Red Cross helping victims of the devastating Northridge earthquake . In the early 2000s, the facility was converted into air operations and helicopter maintenance facilities for the Los Angeles Fire Department. In

1840-496: The City wide response metrics . Professional standards division is Commanded by an Assistant Chief (Division Commander), civilian Chief Special Investigator and Battalion Chief. Internal investigations unit Consists of civilian Fire Special Investigators and Captains who serve as Department Advocates. Administrative Operations is Commanded by a Chief Deputy, who has a CAD designation of 'CM1' and radio designation of 'Command 1'. They are

1920-468: The Coinage Act of 1834 the dollar's fine gold equivalent was revised to 23.2 grains; it was slightly adjusted to 23.22 grains (1.505 g) in 1837 (gold-silver ratio ~16). The same act also resolved the difficulty in minting the "standard silver" of 89.24% fineness by revising the dollar's alloy to 412.5 grains, 90% silver, still containing 371.25 grains fine silver. Gold was also revised to 90% fineness: 25.8 grains gross, 23.22 grains fine gold. Following

2000-544: The Comstock Lode in the 1870s. This was the so-called "Crime of '73". The Gold Standard Act of 1900 repealed the U.S. dollar's historic link to silver and defined it solely as 23.22 grains (1.505 g) of fine gold (or $ 20.67 per troy ounce of 480 grains). In 1933, gold coins were confiscated by Executive Order 6102 under Franklin D. Roosevelt , and in 1934 the standard was changed to $ 35 per troy ounce fine gold, or 13.71 grains (0.888 g) per dollar. After 1968

2080-527: The Continental Congress resolved that the money unit of the United States, the dollar, would contain 375.64 grains of fine silver; on August 8, 1786, the Continental Congress continued that definition and further resolved that the money of account, corresponding with the division of coins, would proceed in a decimal ratio , with the sub-units being mills at 0.001 of a dollar, cents at 0.010 of

2160-517: The Dutch pioneered in modern-day New York in the 17th century the use and the counting of money in silver dollars in the form of German-Dutch reichsthalers and native Dutch leeuwendaalders ('lion dollars'), it was the ubiquitous Spanish American eight-real coin which became exclusively known as the dollar since the 18th century. The colloquialism buck(s) (much like the British quid for

2240-605: The First World War , and displaced the pound sterling as the world's primary reserve currency by the Bretton Woods Agreement towards the end of the Second World War . The dollar is the most widely used currency in international transactions , and a free-floating currency . It is also the official currency in several countries and the de facto currency in many others, with Federal Reserve Notes (and, in

2320-554: The dollar , U.S. dollar , American dollar , or colloquially buck ) is the official currency of the United States and several other countries . The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar , divided it into 100 cents , and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes , popularly called greenbacks due to their predominantly green color. The U.S. dollar

2400-401: The pound sterling ) is often used to refer to dollars of various nations, including the U.S. dollar. This term, dating to the 18th century, may have originated with the colonial leather trade, or it may also have originated from a poker term. Greenback is another nickname, originally applied specifically to the 19th-century Demand Note dollars, which were printed black and green on

2480-477: The 1942 film Casablanca . Also notable were the scenes of the reckless flight (and other scenes) of Laurel and Hardy in the 1939 film The Flying Deuces . In 1942, after the United States entered World War II , the government purchased Metropolitan Airport and converted it into the Van Nuys Army Airfield. The Army also purchased an additional 163 acres of land to expand the runways and airfield. During

Van Nuys Airport - Misplaced Pages Continue

2560-806: The 2020s Van Nuys remains one of the world's busiest general aviation airports, with 232,000 aircraft operations in 2020. A 2015 study found that the airport generates US$ 2 billion of economic impact and has created 10,480 jobs Van Nuys Airport covers 725 acres (293 ha) and has two runways : FBOs: Airport businesses: Museums: Van Nuys Airport has been the location of many film, television, and music video shoots. [REDACTED]  This article incorporates public domain material from the Air Force Historical Research Agency Los Angeles City Fire Department The Los Angeles Fire Department ( LAFD or LA City Fire ) provides firefighting services as well as technical rescue services, hazardous materials services and emergency medical services to

2640-474: The 25th anniversary of the Wright Brothers' first flight , as Metropolitan Airport. The airfield was run by a small group of citizens who established a corporation. The airport was spread out on 80 acres, surrounded by trees and farmland. The airport was mostly used for general aviation , but also became popular with Hollywood stars of the era, and notably was the filming location of the iconic airport scene in

2720-518: The Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time", which is further specified by Section 331 of Title 31 of the U.S. Code. The sums of money reported in the "Statements" are currently expressed in U.S. dollars, thus the U.S. dollar may be described as the unit of account of the United States. "Dollar"

2800-480: The Executive Bureau was changed from the previous name of Administration Bureau. Planning Section is Commanded by a Battalion Chief (Section Commander), who maintains regular business hours (Monday-Friday). It Also consists of four Captains and one Secretary. Employee Relations Division Commanded by a Battalion Chief (Division Commander), who maintains regular business hours (Monday-Friday). They are assisted by

2880-571: The Federal Reserve estimated that the total amount of currency in circulation was approximately US$ 2.33 trillion . Article I , Section 8 of the U.S. Constitution provides that Congress has the power "[t]o coin money ." Laws implementing this power are currently codified in Title 31 of the U.S. Code , under Section 5112, which prescribes the forms in which the United States dollars should be issued. These coins are both designated in

2960-605: The Los Angeles Department of Airports (today Los Angeles World Airports ) built the FlyAway bus terminal just east of the Van Nuys Airport. The terminal served as a remote parking lot for sister airport, LAX. Passengers would park at Van Nuys and board a bus for a 20-mile (32 km) trip to LAX, helping to alleviate freeway and LAX parking congestion. The California Air National Guard moved out of Van Nuys in 1990, with

3040-927: The Spanish milled dollar, the Continental Congress and the Coinage Act prescribed a decimal system of units to go with the unit dollar, as follows: the mill , or one-thousandth of a dollar; the cent , or one-hundredth of a dollar; the dime , or one-tenth of a dollar; and the eagle , or ten dollars. The current relevance of these units: The Spanish peso or dollar was historically divided into eight reales (colloquially, bits ) – hence pieces of eight . Americans also learned counting in non-decimal bits of 12 + 1 ⁄ 2 cents before 1857 when Mexican bits were more frequently encountered than American cents; in fact this practice survived in New York Stock Exchange quotations until 2001. In 1854, Secretary of

3120-530: The Treasury James Guthrie proposed creating $ 100, $ 50, and $ 25 gold coins, to be referred to as a union , half union , and quarter union , respectively, thus implying a denomination of 1 Union = $ 100. However, no such coins were ever struck, and only patterns for the $ 50 half union exist. When currently issued in circulating form, denominations less than or equal to a dollar are emitted as U.S. coins , while denominations greater than or equal to

3200-837: The Treasury to borrow $ 50 million in the form of Demand Notes , which did not bear interest but could be redeemed on demand for precious metals. However, by December 1861, the Union government's supply of specie was outstripped by demand for redemption and they were forced to suspend redemption temporarily. In February 1862 Congress passed the Legal Tender Act of 1862 , issuing United States Notes , which were not redeemable on demand and bore no interest, but were legal tender , meaning that creditors had to accept them at face value for any payment except for public debts and import tariffs. However, silver and gold coins continued to be issued, resulting in

3280-450: The United States and to supervise its banking system, particularly in the aftermath of the Panic of 1907 . For most of the post-war period, the U.S. government has financed its own spending by borrowing heavily from the dollar-lubricated global capital markets, in debts denominated in its own currency and at minimal interest rates. This ability to borrow heavily without facing a significant balance of payments crisis has been described as

Van Nuys Airport - Misplaced Pages Continue

3360-625: The United States until the Coinage Act of 1857 . In particular, colonists' familiarity with the Spanish two- real quarter peso was the reason for issuing a quasi-decimal 25-cent quarter dollar coin rather than a 20-cent coin. For the relationship between the Spanish dollar and the individual state colonial currencies, see Connecticut pound , Delaware pound , Georgia pound , Maryland pound , Massachusetts pound , New Hampshire pound , New Jersey pound , New York pound , North Carolina pound , Pennsylvania pound , Rhode Island pound , South Carolina pound , and Virginia pound . On July 6, 1785,

3440-402: The United States was a significant recipient of wartime gold inflows. After the United States emerged as an even stronger global superpower during the Second World War , the Bretton Woods Agreement of 1944 established the U.S. dollar as the world's primary reserve currency and the only post-war currency linked to gold. Despite all links to gold being severed in 1971, the dollar continues to be

3520-494: The airport and built new permanent facilities. In 1957, the airport's name would change one last time to Van Nuys Airport. In 1959, the Sherman Way underpass was finished, allowing the main runway (16R/34L) to be extended to its current length of 8,001 feet (2,439 m). By the end of the decade, Van Nuys was ranked as the 25th busiest airport in the nation in terms of operations, despite having no commercial air service. In 1975,

3600-557: The area. In 1949, after the war, the City of Los Angeles purchased the airport from the War Assets Administration for $ 1, with the agreement that a California Air National Guard base continue to operate at the site. The name of the airport, which by then covered 400 acres, was changed to San Fernando Valley Airport. In the 1950s, the California Air National Guard based North American F-86 Sabre jets at

3680-513: The average Spanish dollar in circulation. The new U.S. silver dollar of 371.25 grains (24.057 g) therefore compared favorably and was received at par with the Spanish dollar for foreign payments, and after 1803 the United States Mint had to suspend making this coin out of its limited resources since it failed to stay in domestic circulation. It was only after Mexican independence in 1821 when their peso's fine silver content of 377.1 grains

3760-496: The backside, created by Abraham Lincoln to finance the North for the Civil War . It is still used to refer to the U.S. dollar (but not to the dollars of other countries). The term greenback is also used by the financial press in other countries, such as Australia , New Zealand , South Africa , and India . Other well-known names of the dollar as a whole in denominations include greenmail , green , and dead presidents ,

3840-440: The buying and selling of goods. This allowed the value of things to remain fairly constant over time, except for the influx and outflux of gold and silver in the nation's economy. Though a Spanish dollar freshly minted after 1772 theoretically contained 417.7 grains of silver of fineness 130/144 (or 377.1 grains fine silver), reliable assays of the period in fact confirmed a fine silver content of 370.95 grains (24.037 g) for

3920-559: The citizens of the city of Los Angeles , California, United States. The LAFD is responsible for approximately four million people who live in the agency's 471 square miles (1,220 km ) jurisdiction. The Los Angeles Fire Department was founded in 1886 and is the third largest municipal fire department in the United States, after the New York City Fire Department and the Chicago Fire Department . The department

4000-414: The currency, a practice compared to the policies of European monarchs. The currency as we know it today did not get the faces they currently have until after the early 20th century; before that "heads" side of coinage used profile faces and striding, seated, and standing figures from Greek and Roman mythology and composite Native Americans. The last coins to be converted to profiles of historic Americans were

4080-459: The department had grown to 18 fire stations with 123 full-time paid firefighters and 80 fire horses. The city had also installed 194 fire-alarm boxes allowing civilians to sound the alarm if a fire was spotted. 660 fire hydrants were placed throughout the city, giving firefighters access to a reliable water source. In 1955 Station 78 in Studio City became the first racially integrated station in

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4160-542: The department rank of Firefighter/Specialist. It Maintains 24-hour platoon duty. Community Risk Reduction Unit is Commanded by a Captain I (Unit Commander). Two Fire Inspectors are also assigned to the CRRU. Firestat LA Section is Commanded by a Battalion Chief (Section Commander) and the Fire Statistical Manager. It Also consists of two Senior Fire Statistical Analyst. Responsible for Departmental statistics, such as

4240-505: The department. Since 1978 the LAFD has provided emergency medical and fire suppression services to the city of San Fernando by contract. In responses to the 2020 pandemic, the LAFD has helped to administer the COVID-19 vaccine to residents from Los Angeles. Also, more than 1,800 Los Angeles firefighters have received the COVID-19 vaccine. In 2022, Kristin Crowley became the first female, and

4320-607: The depreciation of the newly printed notes through Gresham's law . In 1869, Supreme Court ruled in Hepburn v. Griswold that Congress could not require creditors to accept United States Notes, but overturned that ruling the next year in the Legal Tender Cases . In 1875, Congress passed the Specie Payment Resumption Act , requiring the Treasury to allow U.S. Notes to be redeemed for gold after January 1, 1879. Though

4400-647: The dime (1946), the half Dollar (1948), and the Dollar (1971). After the American Revolution , the Thirteen Colonies became independent . Freed from British monetary regulations, they each issued £sd paper money to pay for military expenses. The Continental Congress also began issuing "Continental Currency" denominated in Spanish dollars. For its value relative to states' currencies, see Early American currency . Continental currency depreciated badly during

4480-426: The discontinuation of all other types of notes (Gold Certificates in 1933, Silver Certificates in 1963, and United States Notes in 1971), U.S. dollar notes have since been issued exclusively as Federal Reserve Notes . The U.S. dollar first emerged as an important international reserve currency in the 1920s, displacing the British pound sterling as it emerged from the First World War relatively unscathed and since

4560-421: The dollar came under the gold standard de jure only after 1900, the bimetallic era was ended de facto when the Coinage Act of 1873 suspended the minting of the standard silver dollar of 412.5 Troy grains = 26.73 g; 0.859 ozt, the only fully legal tender coin that individuals could convert bullion into in unlimited (or Free silver ) quantities, and right at the onset of the silver rush from

4640-561: The fire company disbanded. Many of the former members of Engine Company No. 1 reorganized under the name of Thirty-Eights No. 1 in May 1875, Engine Co. No. 2 was organized under the name Confidence Engine Company. Los Angeles acquired its first " hook and ladder " truck for the Thirty-Eights. It proved to be too cumbersome and was ill-adapted to the needs of the city. It was sold to the city of Wilmington . In 1876, another "hook and ladder" truck

4720-540: The first openly gay, chief of the LAFD. Administration has The official office for the Fire Chief of the department. CAD designation of 'FC1' and radio designation of 'Fire Chief'. The Fire Chief reports directly to the Board of Fire Commissioners. Executive Bureau/Chief Of Staff is Commanded by a Deputy Chief (Bureau Commander) who holds the title of Chief of Staff. The Chief of Staff is Assisted by an Executive Administrative Assistant II and Senior Management Analyst I. In 2022,

4800-397: The latter of which referring to the deceased presidents pictured on most bills. Dollars in general have also been known as bones (e.g. "twenty bones" = $ 20). The newer designs, with portraits displayed in the main body of the obverse (rather than in cameo insets), upon paper color-coded by denomination, are sometimes referred to as bigface notes or Monopoly money . Piastre

4880-401: The modern-day World Bank Group , establishing the infrastructure for conducting international payments and accessing the global capital markets using the U.S. dollar. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . It was founded in 1913 under the Federal Reserve Act in order to furnish an elastic currency for

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4960-512: The numerical amount, is used for the U.S. dollar (as well as for many other currencies). The sign was perhaps the result of a late 18th-century evolution of the scribal abbreviation p for the peso , the common name for the Spanish dollars that were in wide circulation in the New World from the 16th to the 19th centuries. The p and the s eventually came to be written over each other giving rise to $ . Another popular explanation

5040-546: The other. This theory, popularized by novelist Ayn Rand in Atlas Shrugged , does not consider the fact that the symbol was already in use before the formation of the United States. The U.S. dollar was introduced at par with the Spanish-American silver dollar (or Spanish peso , Spanish milled dollar , eight-real coin , piece-of-eight ). The latter was produced from the rich silver mine output of Spanish America ,

5120-478: The rise in the price of silver during the California Gold Rush and the disappearance of circulating silver coins, the Coinage Act of 1853 reduced the standard for silver coins less than $ 1 from 412.5 grains to 384 grains (24.9 g), 90% silver per 100 cents (slightly revised to 25.0 g, 90% silver in 1873). The Act also limited the free silver right of individuals to convert bullion into only one coin,

5200-559: The section as " legal tender " in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar, in contrast to the American Silver Eagle which is pure silver . Section 5112 also provides for the minting and issuance of other coins, which have values ranging from one cent ( U.S. Penny ) to 100 dollars. These other coins are more fully described in Coins of the United States dollar . Article I, Section 9 of

5280-552: The silver dollar at the rate of 1 silver dollar to 1000 continental dollars. This resulted in the clause "No state shall... make anything but gold and silver coin a tender in payment of debts" being written into the United States Constitution article 1, section 10 . From implementation of the 1792 Mint Act to the 1900 implementation of the gold standard , the dollar was on a bimetallic silver-and-gold standard, defined as either 371.25 grains (24.056 g) of fine silver or 24.75 grains of fine gold (gold-silver ratio 15). Subsequent to

5360-474: The silver dollar of 412.5 grains; smaller coins of lower standard can only be produced by the United States Mint using its own bullion. Summary and links to coins issued in the 19th century: In order to finance the War of 1812 , Congress authorized the issuance of Treasury Notes , interest-bearing short-term debt that could be used to pay public dues. While they were intended to serve as debt, they did function "to

5440-414: The value of an eagle at 10 dollars, and the dollar at 1 ⁄ 10 eagle. It called for silver coins in denominations of 1, 1 ⁄ 2 , 1 ⁄ 4 , 1 ⁄ 10 , and 1 ⁄ 20 dollar, as well as gold coins in denominations of 1, 1 ⁄ 2 and 1 ⁄ 4 eagle. The value of gold or silver contained in the dollar was then converted into relative value in the economy for

5520-423: The war, giving rise to the famous phrase "not worth a continental". A primary problem was that monetary policy was not coordinated between Congress and the states, which continued to issue bills of credit. Additionally, neither Congress nor the governments of the several states had the will or the means to retire the bills from circulation through taxation or the sale of bonds. The currency was ultimately replaced by

5600-569: The war, the airfield was used by the 4th Air Force , which stationed the 428th Fighter Squadron with Lockheed P-38 Lightning aircraft in 1943. In 1944, the 441st Army Air Forces Base Unit was added to train additional pilots for the P-38. Elsewhere on the airfield, the U.S. Navy and Lockheed Corporation created an aircraft modification facility known as the Navy Lockheed Plant, just one of several aircraft companies that would become established in

5680-477: The world's foremost reserve currency for international trade to this day. The Bretton Woods Agreement of 1944 also defined the post-World War II monetary order and relations among modern-day independent states , by setting up a system of rules, institutions, and procedures to regulate the international monetary system . The agreement founded the International Monetary Fund and other institutions of

5760-526: The year 1871. In September of that year, George M. Fall, the County Clerk for Los Angeles County organized Engine Company No. 1. It was a volunteer firefighting force with an Amoskeag fire engine and a hose jumper (cart). The equipment was hand-drawn to fires. In the spring of 1874, the fire company asked the Los Angeles City Council to purchase horses to pull the engine. The Council refused and

5840-402: Was called "Morris Vineyard Hose Co. No.3." All of these companies remained in service until February 1, 1886, when the present paid fire department came into existence. In 1877, the first horses were bought for the city fire department. The department would continue to use horses for its equipment for almost fifty years, phasing out the last horse drawn equipment on July 19, 1921. By 1900,

5920-412: Was firmly upheld, which the U.S. later had to compete with using a heavier 378.0 grains (24.49 g) Trade dollar coin . The early currency of the United States did not exhibit faces of presidents, as is the custom now; although today, by law, only the portrait of a deceased individual may appear on United States currency. In fact, the newly formed government was against having portraits of leaders on

6000-461: Was later shortened to the German taler , a word that eventually found its way into many languages, including: tolar ( Czech , Slovak and Slovenian ); daler ( Danish and Swedish ); talar ( Polish ); dalar and daler ( Norwegian ); daler or daalder ( Dutch ); talari ( Ethiopian ); tallér ( Hungarian ); tallero ( Italian ); دولار ( Arabic ); and dollar ( English ). Though

6080-737: Was minted in Mexico City , Potosí (Bolivia), Lima (Peru), and elsewhere, and was in wide circulation throughout the Americas, Asia, and Europe from the 16th to the 19th centuries. The minting of machine-milled Spanish dollars since 1732 boosted its worldwide reputation as a trade coin and positioned it to be the model for the new currency of the United States . Even after the United States Mint commenced issuing coins in 1792, locally minted dollars and cents were less abundant in circulation than Spanish American pesos and reales ; hence Spanish, Mexican, and American dollars all remained legal tender in

6160-461: Was originally defined under a bimetallic standard of 371.25 grains (24.057 g) (0.7734375 troy ounces) fine silver or, from 1834 , 23.22 grains (1.505 g) fine gold, or $ 20.67 per troy ounce . The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its equivalence to gold was revised to $ 35 per troy ounce . In 1971 all links to gold were repealed. The U.S. dollar became an important international reserve currency after

6240-458: Was purchased, serving in the city until 1881. In 1878, a third fire company was formed by the residents in the neighborhood of Sixth Street and Park. It was given the name of "Park Hose Co. No. 1". East Los Angeles formed a hose company named "East Los Angeles Hose Co. No. 2" five years later. The final volunteer company was formed in the fall of 1883 in the Morris Vineyard area. This company

6320-623: Was renamed the San Fernando Valley Airport after the war, before taking its current name in 1957. The airport is also home to LAWA's FlyAway terminal, where passengers bound for LAX can park and board buses that run nonstop between Van Nuys and LAX. Van Nuys Airport is also known for implementing multiple noise abatement policies and strategies which includes awarding jet operators with the Friendly Flyer Award for reduced noise. Van Nuys Airport opened on December 17, 1928,

6400-639: Was the original French word for the U.S. dollar, used for example in the French text of the Louisiana Purchase . Though the U.S. dollar is called dollar in Modern French, the term piastre is still used among the speakers of Cajun French and New England French , as well as speakers in Haiti and other French-speaking Caribbean islands. Nicknames specific to denomination: The symbol $ , usually written before

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