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The Deutsche Mark (German: [ˈdɔʏtʃə ˈmaʁk] (About this soundlisten), "German mark"), abbreviated "DM" or "D-Mark" [ˈdeːˌmaʁk] (About this soundlisten), was the official currency of West Germany from 1948 until 1990 and later the unified Germany from 1990 until 2002. It was first issued under Allied occupation in 1948 to replace the Reichsmark, and served as the Federal Republic of Germany's official currency from its founding the following year until the adoption of the euro. In English it is commonly called the "Deutschmark" (/ˈdɔɪtʃmɑːrk/); this expression is unknown in Germany.[citation needed] The Germans usually called it D-Mark when referring to the currency, and Mark when talking about individual sums.[citation needed]
In 1999, the Deutsche Mark was replaced by the euro; its coins and banknotes remained in circulation, defined in terms of euros, until the introduction of euro notes and coins on 1 January 2002. The Deutsche Mark ceased to be legal tender immediately upon the introduction of the euro—in contrast to the other eurozone nations, where the euro and legacy currency circulated side by side for up to two months. Mark coins and banknotes continued to be accepted as valid forms of payment in Germany until 28 February 2002.
The Deutsche Bundesbank has guaranteed that all German marks in cash form may be changed into euros indefinitely, and one may do so in person at any branch of the Bundesbank in Germany. Banknotes and coins can even be sent to the Bundesbank by mail.[2] In 2012, it was estimated that as many as 13.2 billion marks were in circulation, with one poll showing a narrow majority of Germans favouring the currency's restoration (although a minority believed this would not bring any economic benefit).[3]
On 31 December 1998, the Council of the European Union fixed the irrevocable exchange rate, effective 1 January 1999, for German mark to euros as DM 1.95583 = €1.[4]
One Deutsche Mark was divided into 100 pfennige.
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John Davison Rockefeller Sr. was an American business magnate and philanthropist. Founder of the Standard Oil Company, he is widely considered the wealthiest American of all time and the richest person in modern history.
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1. Augustus preserved the republican traditions
2. Gradual lowering
A command economy is a system where the government, rather than the free market, determines what goods should be produced, how much should be produced, and the price at which the goods are offered for sale. ... The command economy is a key feature of any communist society.
The 13 colonies opposed these acts because the colonies were being taxed without representation meaning that the colonies usually made their own taxed untill the Britsh stated tax acts without giving the colonies any say on if they wanted them so the colonies protest these acts fearing that the colonies were going to get pushed around by the Britsh
