Definition of Adams-Onis Treaty

The Adams-Onis Treaty was an agreement between the United States and Spain signed in 1819 which established the southern border of the Louisiana Purchase. As part of the agreement, the United States obtained the territory of present day Florida. The treaty was negotiated in Washington, D.C. by the American secretary of state, John Quincy Adams, and the Spanish ambassador to the United States, Luis de Onis. The treaty was viewed as a significant event at the time, and contemporary observers, including former president Thomas Jefferson, lauded the work of John Quincy Adams. Background of the Adams-Onis Treaty Following the acquisition of the Louisiana Purchase during the administration of Thomas Jefferson, the United States faced a problem, as it was not entirely clear where the border lay between the territory obtained from France and the territory of Spain to the south. Over the first decades of the 19th century, Americans venturing southward, including Army officer (and possible spy) Zebulon Pike, were apprehended by Spanish authorities and sent back to the United States. A clear border needed to be defined before minor incidents on the border escalated into anything more serious. And in the years following the Louisiana Purchase, the successors to Thomas Jefferson, James Madison and James Monroe, sought to acquire the two Spanish provinces of East Florida and West Florida (the regions had been loyal to Britain during the American Revolution, but following the Treaty of Paris, they reverted to Spanish rule). Spain was barely holding on to the Floridas. And was therefore receptive to negotiating a treaty which would trade away that land in return for clarifying who owned land to the west, in what today is Texas and the southwestern United States. Complicated Territory The problem Spain faced in Florida was that it claimed the territory, and had a few outposts on it, but it wasnt settled. And the region wasnt being governed in any sense of the word. American settlers were encroaching on its borders, essentially squatting on Spanish land, and conflicts kept arising. Escaped slaves were also crossing into Spanish territory, and at time U.S. troops ventured into Spains land on the pretext of hunting fugitive slaves. Creating further complications, Indians living in Spanish territory would venture into American territory and raid settlements, at times killing the residents. The constant problems along the border seemed likely to erupt at some point into open conflict. Andrew Jackson at the Battle of New Orleans. In 1818 Andrew Jackson, the hero of the Battle of New Orleans three years earlier, led a military expedition into Florida. His actions were highly controversial in Washington, as government officials felt he had gone far beyond his orders, especially when he executed two British subjects he considered spies. Negotiation of the Treaty It seemed obvious to leaders of both Spain and the United States that the Americans would eventually come into possession of Florida. So the Spanish ambassador in Washington, Luis de Onis, had been granted full power by his government to make the best deal he could. He met with John Quincy Adams, secretary of state to President Monroe. The negotiations had been disrupted and nearly ended when the 1818 military expedition led by Andrew Jackson ventured into Florida. But the problems caused by Andrew Jackson may have been useful to the American cause. Jacksons ambition and his aggressive behavior no doubt reinforced the fear that of the Spaniards that Americans could be coming into the territory held by Spain sooner or later. The American troops under Jackson had been able to walk into Spainish territory at will. Spain was beset by other problems. And it did not want to station troops, which would have to be supplied, in remote parts of Florida to defend against any future American encroachments. There was no escaping that if American soldiers could march into Florida and just seize it, there was little Spain could do. So Onis thought he might as well dispense with the Florida problem entirely while dealing with the issue of borders along the western edge of the Louisiana territory. The negotiations were resumed and proved fruitful. And Adams and Onis signed their agreement on February 22, 1819. A compromise boundary was established between the U.S. and Spanish territory, and the United States gave up claims to Texas in exchange for Spain giving up any claim to territory in the Pacific Northwest. The treaty, after ratification by both governments, became effective on February 22, 1821.  The treaty was eventually followed by other treaties that essentially confirmed the boundaries set out in 1821. An immediate result of the treaty was that it reduced tensions with Spain, and made the likelihood of another war seem remote. So the military budget of the United States could be cut and the size of the U.S. Army reduced in the 1820s.

Money Market Instruments Available In Us And India Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1500 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Treasury Bills, are a type of money market instruments available in both US and India. These are the zero coupon bond and doesnt pay any coupon. Thats why these are generally issued at discount and on maturity redeemed at the face value. Don’t waste time! Our writers will create an original "Money Market Instruments Available In Us And India Finance Essay" essay for you Create order In India, also called as Government Instruments (G-secs), it is issued by RBI and are backed by Government of India. These are short term debt instruments as the tenure of currently issued T bills is of 3 types: 91 day (3 months), 182 day (6 months) and 364 day (1year). For example, a 91 day Treasury Bill of Rs.100/- (face value) may be issued at a discount of say, Rs.1.80, that is Rs.98.20 and redeemed at the face value of Rs.100/-. The investors will get a return equal to difference between the maturity value or face value (i.e., Rs.100) and the issue price. Treasury Bills are issued through auctions conducted by the Reserve Bank of India usually every Wednesday and payments for the Treasury Bills purchased have to be made on the following Friday. The Treasury Bills of 182 days and 364 days tenure are issued on alternate Wednesdays, that is, Treasury Bills of 364 day tenure are issued on the Wednesday preceding the reporting Friday while Treasury Bills of 182 days tenure are iss ued on the Wednesday prior to a non-reporting Friday. Currently, the notified amount for issuance of 91 day and 182 day Treasury Bills is Rs.500 crore each whereas the notified amount for issuance of 364 day Bill is higher at Rs.1000 crore. Government, at its discretion, can also decide to issue additional amounts of the Treasury Bills by giving prior notice. An annual calendar of T-Bill issuances for the following financial year is released by the Reserve Bank 8 of India in the last week of March. The Reserve Bank of India also announces the issue details of Treasury bills by way of press release every week. In US it is issued by Fed and is backed by US government. Tenure of US T-bills is 4 weeks, 13 weeks, 26 weeks, or 52 weeks. Generally these are issued in the denomination of USD 1000 and are issued at discount since these are zero coupon bonds. Dated Government Instruments are the Instruments which are longer in term than the T bills. These Instruments pay interest at fix ed time periods (usually half yearly) called coupon on the face value and this can be either fixed or floating coupon. The tenor of these Instruments can be up to 30 years. In India, the Public Debt Office (PDO) of the RBI acts as the registry / depository of Government Instruments. This office takes care of all the dealings for these Instruments like issue, interest payment and repayment of principal at maturity. We generally have fixed coupon Instruments. The nomenclature of a typical dated fixed coupon Government security has the following features coupon, name of the issuer, maturity and face value. e.g. If the bond is called 7.49% GOI 2017 then it would have these features. Date of Issue : April 16, 2007 Date of Maturity : April 16, 2017 Coupon : 7.49% paid on face value Coupon Payment Dates : Half-yearly (October16 and April 16) every year Minimum Amount of issue/ sale : Rs.10,000 Same as the case with Treasury Bills, dated Instruments of both Gover nment of India and State Governments are issued by RBI through auctions. The Auctions are announced by the RBI a week in advance through Press Releases and paid advertisements in major dailies (for dated Instruments). Hence the investors get adequate time in order to plan for the purchase of government Instruments through such auctions Types of Dated Instruments Fixed Rate Bonds As the name suggests the interest rate i.e. cupon rate is fixed on these bonds for the entire life of the bond. As already told, In india, most Government bonds are issued as fixed rate bonds. e.g. Lets say RBI issue 8.24%GS2018 on April 22, 2008 and the tenor of the bind is 10 years maturing on April 22, 2018. Coupon on this security will be paid half-yearly at 4.12% (as the 8.24% is the total coupon and hence the half yearly payment being the half of it) of the face value and it will be paid on October 22 and April 22 of each year. Floating Rate Bonds As the name suggest these bonds dont have a fixed coupon rate and the coupon is re-set at pre-announced intervals based on a specified methodology. In these bonds the coupon of the bond is re-set at regular intervals and these interval are defined beforehand while issuing the security. The rate is generally calculated by adding a spread over a base rate. In India, most floating rate bonds issued by the GOI, the base rate is the weighted average cutoff yields of the last three 364 day Treasury Bill auction preceding the coupon re-set date. Floating Rate Bonds were first issued in September 1995 in India. For example, a Floating Rate Bond was issued on July 2, 2002 for a tenor of 15 years, maturing on July 2, 2017. The base rate on the bond for the coupon payments was fixed at 6.50% being the weighted average rate of implicit yield on 364 day Treasury Bills during the preceding six auctions. Further, in the bond auction, a cut-off spread (markup over the benchmark rate) of 34 basis points (0.34%) was decided. Hence the coupon for the first six months was fixed at 6.84%. At the next reset date after six months, assuming that the average cutoff yield in the preceding six auctions of 364 day Treasury Bill is 6.60%, coupon applicable for the next half year would be 6.94%. Zero Coupon Bonds Zero coupon bonds are bonds with no coupon payments. Like Treasury Bills, they are issued at a discount to face value. Such Instruments were issued by the Government of India in the 1990s, but no issue was made thereafter. Capital Indexed Bonds These are bonds, the principal of which is linked to an accepted index of inflation with a view to protecting the holder from inflation. A capital indexed bond, with the principal hedged against inflation, was issued in December 1997. These bonds matured in 2002. Steps are now being taken to revive the issuance of the Inflation Indexed Bonds wherein payment of both the coupon and principal payments on the bonds will be linked to an Inflation Index (Wholesale Price In dex). Bonds with Call/ Put Options Bonds can also be issued with features of optionality wherein the issuer can have the option to buyback (call option) or the investor can have the option to sell the bond (put option) to the issuer during the currency of the bond. A bond (viz., 6.72%GS2012) with call / put option was issued in India in the year 2002 which will mature in 2012. 6.72%GS2012 was issued on July 18, 2002 for a maturity of 10 years maturing on July 18, 2012. The optionality on the bond could be exercised after completion of five years tenure from the date of issuance on any coupon date falling thereafter. The Government has the right to buyback the bond (call option) at par value (equal to the face value) while the investor has the right to sell the bond (put option) to the Government at par value at the time of any of the half-yearly coupon dates starting from July 18, 2007. Special Instruments In addition to Treasury Bills and dated Instruments issued by the Gov ernment of India under the market borrowing programme, the Government of India also issues, from time to time, special Instruments to entities like Oil Marketing Companies, Fertilizer Companies, the Food Corporation of India, etc. as compensation to these companies in lieu of cash subsidies. These Instruments are usually long dated Instruments carrying coupon with a spread of about 20-25 basis points over the yield of the dated Instruments of comparable maturity.These Instruments are, however, not eligible SLR Instruments but are approved Instruments and are eligible as collateral for market repo transactions. The beneficiary oil marketing companies may divest these 11 Instruments in the secondary market to banks, insurance companies / Primary Dealers, etc., for raising cash. Steps are being taken to introduce new types of instruments like STRIPS (Separate Trading of Registered Interest and Principal of Instruments). STRIPS are instruments wherein each cash flow of the fixed coup on security is converted into a separate tradable Zero Coupon Bond and traded. For example, when Rs.100 of the 8.24%GS2018 is stripped, each cash flow of coupon (Rs.4.12 each half year) will become coupon STRIP and the principal payment (Rs.100 at maturity) will become a principal STRIP. These cash flows are traded separately as independent Instruments in the secondary market. State Development Loans (SDLs) State Governments also raise loans from the market. SDLs are dated Instruments issued through an auction similar to the auctions conducted for dated Instruments issued by the Central Government (see question 3 below). Interest is serviced at half-yearly intervals and the principal is repaid on the maturity date. Like dated Instruments issued by the Central Government, SDLs issued by the State Governments qualify for SLR. They are also eligible as collaterals for borrowing through market repo as well as borrowing by eligible entities from the RBI under the Liquidity Adjustment Facility (LAF).

Descriptive Essay - Original Writing - 1476 Words

The music was beautiful. His fingers flowed across the piano keys like a ballerina, so elegant and graceful. His gaze was lowered to where his hands spun the melodic notes and I could make out the dark, black lashes on his eyes lined perfectly with one another. He appeared calm, serene, at peace. No frown marked his forehead, no desire tugged at his lips. He was simply sat at the back of the common room, slipped into his own world of beautiful music. I sat at my desk with a pile of homework slumped beside me. My chin was cupped in my hands and my head was tilted to one side as I watched him with smiling eyes, ignoring the duties laid out in front. Somewhere beneath my surface, I knew that I had a million of things to do but for now, in this small, precious moment, I wasn t about to let go of the perfect image layed before me on my computer screen. His name is Luhan. He is a Chinese singer and actor and everyday since I found out about him, he has become a huge part of my life. Everyday, I would sit on my desk pretending to be engaged with a pile of homework, when really, I was fantasising an unrealistic romance with him because there was no way someone famous like him would end up with an ordinary girl like me. In this moment, everything seemed fine. The atmosphere was calm and he was beautiful and my mind was untroubled for once. There was nothing to be upset about, I told myself. I was fine, everything was okay, I was okay. And everything really was going okay- untilShow MoreRelatedDescriptive Essay - Original Writing1110 Words   |  5 PagesI don’t know how I got to where I am, but I’m here now, and I have to win if I want to live. I am in a game, and in order to live, I have to escape. That’s the thing, though: I don’t know how to escape. I was running for my life around this old house that looked like it came straight out of a horror movie. I doubled over and held my head in pain as I saw the static, which meant it was coming. 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Crystallization, Sugar, and Fudge Lab Essay Sample free essay sample

Controlled crystal formation is of import to get a certain texture in crystalline confect. Crystalline confects are smooth. creamy. and easy chewed with a definite construction of little crystals that resemble bantam snowflakes. Examples of crystalline confects are fondant. fudge. and penoche. When a concentration of sugar is higher than 121 grades Celsius. it is an formless or non-crystalline confect. these are confects formed from a sugar solution that does non crystallise such as insignificant toffee. and caramel. The intent of this lab is to understand how temperature influences the texture. and soundness of fondant. and fudge. Materials and Methods: The ingredients that were used for the fondant formula were 200 gms of saccharose or better known as table sugar. and 118 milliliter of H2O. The 118 milliliter of H2O and 200 gms of saccharose was placed in a one quart saucepan on an initiation range top on the highest heat scene of 8. and a thermometer was placed in the pot while stirring the sugar and H2O with a wooden spoon. We will write a custom essay sample on Crystallization, Sugar, and Fudge Lab Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page We kept an oculus on the thermometer to do certain that it was immersed into the solution. but non touching the underside of the pot. We reduced the heat to about 6 after the temperature reached around 100 grades Celsius. We did this because we didn’t want the sugar solution to travel above coveted temperature of 113 grades Celsius. After making 113. we removed the saucepan from the range put it on a hot home base. We kept the thermometer in the solution and waited about 45 proceedingss until it reached the cooling temperature of 40 grades Celsius. The ingredients that were used for the basic fudge formula. our grouped had to duplicate the formula. We used 400 gms of sucrose 56 gms of pure cocoa. 28 gms of butter. and in replace of pick we used 236 Master of Library Science of H2O. We placed the sugar. H2O. and cocoa in a one quart heavy sauce pan on the initiation range on a low scene until all the cocoa had melted. We kept the thermometer in the solution with the bulb immersed in the fudge without touching the underside to do certain we had the right temperature. We increased the heat puting on the range top to the highest scene to boil the mixture quickly. We boiled the mixture until it reached 114 grades Celsius. We removed the fudge and instantly added the butter without stirring and allow the mixture cool to 40 grades Celsius. After it reached to 40 grades we so tried stirring the fudge but the ingredients formed an formless consistency and it was non possible to stir in the butter. Consequences and Discussion: The consequences of our fondant was somewhat xanthous in colour with really big crystals. and after waiting for it to make 40 grades Celsius it was really difficult to the touch and non able to even be taken out of the pot. What I did seek from the fondant we made it had a farinaceous like consistency somewhat resembling sand. really difficult to masticate. and suck to our dentitions. It was highly molar impacting. The ground for the xanthous calendered colour and big crystals was because we over cooked the fondant. It was more like a stone confect so a fondant. The ground why we believed it turned into an formless confect was because the thermometers we were utilizing for both formulas was off by two grades Celsius. This made it really hard to state if it was done or if it was undercooked. Besides this was the first clip utilizing an initiation range. and that was besides hard to command the temperature because it was boiling faster than the other groups. The basic fudge formula tur ned out really dark brown about black. stuck to the saucepan. and really overcooked. What I tasted was burned. gritty. tooth impacting cocoa. Because the consequences for both the fondant and the fudge were so similar in consistency. texture. and soundness we believed that if we had a calibrated thermometer and knew more about the temperature difference in initiation range tops I believe we could hold produced two better merchandises. Decision: After executing the lab. we noticed how hard controlled crystallisation was to accomplish. Even though fudge is more forgiving so fondant it is highly of import to hold a good calibrated thermometer. If the temperature is even one grade off it can travel from a crystalline confect to an formless confect in an blink of an eye. This lab was helpful in understanding how to cook confects. and the importance of consistence when it comes to fondants and fudges. We learned what over and under cookery does to the saccharose ( table sugar ) . and how adding ingredients like interfering agents such as acids can assist alter molecules of hydrolyze sugars into monosaccharoses. This lab helped in seeing how sugar and H2O can move together and how critical temperature is in doing types of confect.