Franc in the context of "Aldrich Plan"

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⭐ Core Definition: Franc

The franc is any of various units of currency. One franc is typically divided into 100 centimes. The name is said to derive from the Latin inscription francorum rex (King of the Franks) used on early French coins and until the 18th century, or from the French franc, meaning "frank" (and "free" in certain contexts, such as coup franc, "free kick").

The countries that use francs today include Switzerland, Liechtenstein, and most of Francophone Africa. The Swiss franc is a major world currency today due to the prominence of Swiss financial institutions.

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👉 Franc in the context of Aldrich Plan

The National Monetary Commission was a U.S. congressional commission created by the Aldrich–Vreeland Act of 1908. After the Panic of 1907, the Commission studied the banking laws of the United States, and the leading countries of Europe. The chairman of the commission, Senator Nelson Aldrich, a Republican leader in the Senate, personally led a team of experts to major European capitals. They were stunned to discover how much more efficient the European financial system appeared to be and how much more important than the dollar were the pound, the franc and the mark in international trade. The commission's reports and recommendations became one of the principal bases in the enactment of the Federal Reserve Act of 1913 which created the modern Federal Reserve system.

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Franc in the context of Centime

A centime (from Latin: centesimus) is a fractional monetary unit. It equals one-hundredth of a franc in Switzerland, one-hundredth of a dinar in Algeria, and one-hundredth of a dirham in Morocco. It was formerly worth one-hundredth of a franc in other Francophone countries, such as Belgium and France, until the adoption of the euro.

In France, the usage of centime goes back to the introduction of the decimal monetary system under Napoleon. This system aimed at replacing non-decimal fractions of older coins. A five-centime coin was known as a sou, i.e. a solidus or shilling.

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Franc in the context of Italian lira

The lira (/ˈlɪərə/ LEER, Italian: [ˈliːra]; pl.: lire, /ˈlɪər/ LEER-ay, Italian: [ˈliːre]) was the currency of Italy between 1861 and 2002. It was introduced by the Napoleonic Kingdom of Italy in 1807 at par with the French franc, and was subsequently adopted by the different states that would eventually form the Kingdom of Italy in 1861. It was subdivided into 100 centesimi (sg.: centesimo), which means "hundredths" or "cents". The lira was also the currency of the Albanian Kingdom from 1941 to 1943.

The term originates from libra, the largest unit of the Carolingian monetary system used in Western Europe and elsewhere from the 8th to the 20th century. The Carolingian system is the origin of the French livre tournois (predecessor of the franc), the Italian lira, and the pound unit of sterling and related currencies.

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Franc in the context of Praguerie

The Praguerie (French pronunciation: [pʁaɡʁi]) was a revolt of the French nobility against King Charles VII from February to July 1440.

It was so named because a similar rising had recently taken place in Prague, Bohemia, at that time closely associated with France through the House of Luxembourg, kings of Bohemia. Its causes lay in the reforms of Charles VII at the close of the Hundred Years' War, by which he sought to diminish the anarchy in France and its brigand-soldiery. The ordinances passed by the estates of langue d'oïl at Orléans in 1439 not only gave the king an aid of 100,000 francs (an act which was later used by the king as though it were a perpetual grant and so freed him from that parliamentary control of the purse so important in England), but demanded as well royal nominations to officerships in the army, marking a gain in the royal prerogative which the nobility resolved to challenge.

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