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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.[5] 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.

At the time the sale agreement was made the exchange rate was

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.[5] For example, suppose an American company sells electrical equipment to a buyer in France for one million euros.

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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.[5] 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.

At the time the sale agreement was made the exchange rate was $1.25 euros per dollar.

.25 euros per dollar.

The missionaries introduced European fruits, vegetables, cattle, horses, ranching, and technology.

At left is the façade of the first adobe church with its added espadaña; behind the campanario, or "bell wall" is the "Sacred Garden." The Mission has earned a reputation as the "Loveliest of the Franciscan Ruins." The Spanish missions in California comprise a series of 21 religious outposts or missions established between 17 in today's U. The major coastal cities of California were founded as a mission or sub-mission, including San Francisco, Monterey, Los Angeles and San Diego.

Founded by Catholic priests of the Franciscan order to evangelize the Native Americans, the missions led to the creation of the New Spain province of Alta California and were part of the expansion of the Spanish Empire into the most northern and western parts of Spanish North America.

The Alta California government secularized the missions after the passage of the Mexican secularization act of 1833.

This divided the mission lands into land grants, which became many of the Ranchos of California.

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