History
The troy ounce in use today is essentially the same as the British Imperial troy ounce (1824-1971), adopted as an official weight standard for United States coinage by Act of Congress on May 19, 1828. The British Imperial troy ounce (known more commonly simply as the imperial troy ounce) was based on, and virtually identical with, the pre-1824 English troy ounce and the pre-1707 English troy ounce. (1824 was the year the British Imperial system of weights and measures was adopted, 1707 was the year of the Act of Union which created the Kingdom of Great Britain.) The English troy ounce was officially adopted for coinage in 1527. Troy ounces were used in the private sector in England since about 1400. Prior to that, various sorts of troy ounces were in use on the continent.
Read more about this topic: Troy Ounce
Famous quotes containing the word history:
“Look through the whole history of countries professing the Romish religion, and you will uniformly find the leaven of this besetting and accursed principle of action—that the end will sanction any means.”
—Samuel Taylor Coleridge (1772–1834)
“The history of medicine is the history of the unusual.”
—Robert M. Fresco, and Jack Arnold. Prof. Gerald Deemer (Leo G. Carroll)
“Throughout the history of commercial life nobody has ever quite liked the commission man. His function is too vague, his presence always seems one too many, his profit looks too easy, and even when you admit that he has a necessary function, you feel that this function is, as it were, a personification of something that in an ethical society would not need to exist. If people could deal with one another honestly, they would not need agents.”
—Raymond Chandler (1888–1959)