British banks were also expanding overseas, London was the world centre for insurance and commodity markets and British capital was the leading source of foreign investment around the world; sterling soon became the standard currency used for international commercial transactions. For example, suppose an American company sells electrical equipment to a buyer in France for one million euros.
The equipment is to be delivered 90 days before the payment is made.
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By the 1860s, most industrialised countries had followed the lead of the United Kingdom and put their currency on to the gold standard.
At that point the UK was the primary exporter of manufactured goods and services and over 60% of world trade was invoiced in pound sterling.
The night of the vigil of Easter has undergone a strange displacement.
During the first six or seven centuries, ceremonies were in progress throughout the entire night, so that the Alleluia coincided with the day and moment of the Resurrection.
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