If the borrower stops making the promised loan payments, the lender can seize the collateral to recoup its losses. Since collateral offers some security to the lender should the borrower fail to pay back the loan, loans that are secured by collateral typically have lower interest rates than unsecured loans.
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Communications in the late 1800s were restricted. The earliest postal systems were often run by a local citizen out of his house. Postal carriers traveled by horse and only carried documents.
Political parties help people with the same beliefs come together and set shared ideological goals and work together to achieve common causes.
Simon Bolivar is known as El Libertador
