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There is no longer a shilling, which makes accounting far simpler but makes British money considerably less interesting to foreigners! That colony began to print its own currency in 1690 to pay troops fighting King William's War. ~= 1 $ 39 9/10 . 3 photos. Various characters utilized this dread to profit and they showedselfishness and wrongdoing. Twenty of those would be needed for a dried pound, so that's $30. It shows the exchange rate of the two currencies conversion. 2 gr. 62-63). He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. The colonial monetary units of pounds and shillings were simply a bookkeeping system or what is called a "money of account" used to keep track of the various foreign denomination coins in circulation. Value of $6 in Today's Dollars, Adjusted for Inflation Value of $6 Adjusted for Inflation Calculate inflation on $6 over time $6 in 1914 equals $178.08 in 2023. sterling) was valued at 44d (3s8d) and the 63 stuiver "Silver rider" ducatoon (at 21 dwt. [4] This paper money was issued to pay for a military expedition during King William's War. After the American Revolutionary War began in 1775, the Continental Congress began issuing paper money known as Continental currency, or Continentals. (McCusker, pp. Value of 1 from 1880 to 2023 1 in 1880 is equivalent in purchasing power to about 153.91 today, an increase of 152.91 over 143 years. When 1 is equivalent to 153.91 over time, that means that the "real value" of a single U.K. pound decreases over time. By calculating the value in 1650 dollars, the chart below shows how $1 is worth less over 373 years. Mulch is a layer of material that is applied to the surface of the soil. In other words, the purchasing power of 100 in 1956 equals 2,312.54 in 2022. EH.Net Encyclopedia, edited by Robert Whaples. In other words, the purchasing power of 100 in 1992 equals 202.59 today. The same year, the gold pounds, which contain 0.23 ounces of gold, were sold for GBP 299. All Persons, Bodies Politic, &c. to pay 4s. Women's wages, 1840-1849. For example, in Massachusetts in 1704 a British shilling was legislated at 33.33% more than a Massachusetts shilling, so that a British shilling would pass at 16d (1s4d) in Massachusetts, whereas a Massachusetts shilling would be 12d (1s). Use "Swap currencies" to make United States Dollar the default currency. This doesn't mean that there haven't been ups and downs. 62-63). The coin is made of 99.999% pure gold and weighs in at an impressive . This chart shows a calculation of buying power equivalence for 1 in 1880 (price index tracking began in 1750). Colonial merchants needed to pay British exporters in silver, resulting in a severe drain on an already scarce commodity. [3], One by one, colonies began to issue their own paper money to serve as a convenient medium of exchange. It shows the exchange rate of the two currencies conversion. Our calculations use the following inflation rate formula to calculate the change in value between 1650 and today: Then plug in historical CPI values. No longer subject to monetary regulations arbitrarily imposed by the British Parliament, the States began to issue paper money to pay for military expenses. Annual inflation over this period was 2.88%. The bank was funded in part by bullion coins loaned to the United States by France. Maryland actually traded dollars at the proclamation standard of 72d (6s) which was the one third or 33.33% increase over sterling. Guinea (coin) - Wikipedia New York was somewhat independent and created their own rate of 96d (8s) to the Spanish dollar or a 78% increase over sterling. As of 03 March 2023, the current exchange rate of 922 Syrian Pound is equal to 0.543058 Australian dollar. - How much is 6 dollars worth adjusted for inflation? Good Time. A bullion gold Sovereign is currently worth 351.28 ($ 425.81 / 407.78 ). 1922 GBP to USD - 1922 British Pound Sterling to US Dollar If we say that an unskilled worker works 40 hrs/week for 50 weeks/yr, that would give an annual wage of $14,500. How much is 1 pound (GBP) to (EUR) according to the foreign Currency Converter, Pounds Sterling to Dollars, 1264 to Present (Java) Pounds Sterling to Dollars: Historical Conversion of Currency by Eric Nye, Department of English, University of Wyoming Click here to read an explanation of the calculations. The name came from the Guinea region in West Africa, from where much of the gold used to make the coins was sourced. Other colonies followed the example of Massachusetts Bay by issuing their own paper currency in subsequent military conflicts. For example, if you started with $1, you would need to end with $52.49 in order to "adjust" for inflation (sometimes refered to as "beating inflation"). Live GBP to TIGRES calculator is based on live data from multiple crypto exchanges. The exchange rate of the British Pound in . 1 TIGRES = 1.70 GBP. This is the page of British Pound (GBP) to United States Dollar (USD) conversion, below you can find the latest exchange rate between them and is updated every 1 minutes. Ed Sheeran Brit Awards Performance, Pennsylvania's paper currency, secured by land, generally maintained its value against gold from 1723 until the Revolution broke out in 1775.[6]. [50] "Some think that the rebel bills depreciated because people lost confidence in them or because they were not backed by tangible assets", writes financial historian Robert E. Wright. The only other colony to conform, during this period, was Virginia where the royal governor finally forced the House of Burgesses to accept the proclamation rate in 1710. Note that prior to February 15, 1971 ("Decimal day," or "D-day"), monetary amounts in the U.K. were expressed as pounds (), shillings (s.) and pence (d.), where 1 = 20s. In other words, a pound will pay for fewer items at the store. $156,284.40. The pound had an average inflation rate of 2.53% per year between 1830 and today, producing a cumulative price increase of 12,070.45% . Juilliard v. Greenman, 110 U.S. 421, 4 S.Ct. For this reign, the old hammered sovereigns had long ceased, and modern milled sovereigns (20 shillings) were not minted till George III 's. Click on a category such as "Food" to toggle it on or off: For all these visualizations, it's important to note that not all categories may have been tracked since 1692. Home; What We Do; Get Involved; Who We Are; Donate . If you have a gold coin of William and Mary, you first need to find whether it. On income between 12,571 and 50,270, you'll pay income tax at 20% - known as the basic rate. 1678 Salem house for Thomas Maulle, size 35'x20', to be built for 47, 8 shillings, 10 pence. $6 Inflation Calculator. A good sheet set from Pottery Barn (including pillowcases, which Mr. Birds pair of sheets did not) would cost $200. Between 50,271 and 150,000, you'll pay at 40% (known as the higher rate) and above 150,000, you'll pay 45% (the additional rate). Convert 1692 British Pound(GBP) to other currencies. Ian earned his degree in Computer Science from Dartmouth College. The colonies were chronically short of specie because, with the exception of the sugar colonies, they were at a trade deficit with England/Britain. 922 SYP/AUD - 922 Syrian Pound to Australian dollar Historical Chart 1,692 GBP/USD 0.1692 0.784 22/05/2022 . W7938 Skory Rd, Wausaukee, WI 54177 | MLS# 50236073 | Redfin British Pound Euro rate for 31/01/2019. 1 check-in. Act authorizing Ephraim Robinson and Joseph Pearson to countersign New Hampshire currency. This catalogue is divided into a number of pages which are arranged in approximate chronological order. Also, as this was the currently imposed rate, notes issues at this rate were called "Current Money" (not to be confused with the expression "pass current" found on many notes from the middle colonies). How Does Arthur Miller Show Craziness In The Crucible | ipl.org For example, in 1702 a general assay was undertaken by the director of the Royal mint, Sir Isaac Newton (for details see the 1702 Assay section). This remained the official legislated rate but Spanish American dollars sometimes traded at even above this legislated rate. The U.K. CPI was 9.4 in the year 1880 and 1446.7515236795698 in 2023: 1 in 1880 has the same "purchasing power" or "buying power" as 153.91 in 2023. Today, this four poster bed from Pottery Barn, http://www.potterybarn.com/products/farmhouse-canopy-bed/?pkey=cbeds-headboards%7Cwood-beds-headboards%7C&&cbeds-headboards|wood-beds-headboards|, which might be similar to Mr. Birds bed, would cost $1600. Even though I wasn't staying at Dog Watch Cafe, but rather opting for take out, I felt instantly welcomed in this cozy restaurant. Ian earned his degree in Computer Science from Dartmouth College. Values of Coins of the UK - One Pound, Sovereign or Guinea According to the Office for National Statistics, each of these GBP amounts below is equal in terms of what it could buy at the time: This conversion table shows various other 1880 amounts in today's pounds, based on the 15,290.97% change in prices: Our calculations use the following inflation rate formula to calculate the change in value between 1880 and today: Then plug in historical CPI values. In 1672 Massachusetts valued the Spanish dollar at 72d (6s) or 33% above par (parity with Britain). Select a date to find out the exchange rate for that day. in2013dollars.com is a reference website maintained by the Official Data Foundation. how much was a shilling worth in 1750 Home Breaking down these categories helps explain the main drivers behind price changes. Waddell was a New York City Alderman (177377) with the authority to sign currency issued to fund the "water works" under construction near Broadway and Chambers streets. The poundwhich, in the Middle Ages, was valued the same as one pound of sterling silverhad 20 shillings, and each shilling had 12 pence (pennies). December 10, 1690 - 1750 The First Emissions Faced with an immediate need to pay expenses relating to a military action against Canada during King William's War, on December 10, 1690 the General Court authorized the issuing of 7,000 in public paper currency. Calculates inflation to see what a U.S. dollar was worth in the past and today. These coins did not circulate in large numbers. Read more about inflation and investment. This table and charts use the earliest available data for each category. Early American currency went through several stages of development during the colonial and post-Revolutionary history of the United States. With the currency converter, you can convert 90 United States Dollars to Pounds and find out how much ninety dollars is currently worth in Pounds. British Pound US Dollar rate for 10/01/2021. Conversion base : 1 IEP = 1.3989873417722 $. The bullion value of a gold Sovereign is calculated at 7.31 x the price per gram of the prevailing gold price. loaf cost about 1.4 pence (remember there were 240 pennies in a pound in those days). Credit in the colonial era functioned as a social bond, symbolizing friendship and creating obligations between people of various sorts. Continental currency was denominated in dollars from $.mw-parser-output .frac{white-space:nowrap}.mw-parser-output .frac .num,.mw-parser-output .frac .den{font-size:80%;line-height:0;vertical-align:super}.mw-parser-output .frac .den{vertical-align:sub}.mw-parser-output .sr-only{border:0;clip:rect(0,0,0,0);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px}16 to $80, including many odd denominations in between. US federal minimum wage today is $7.25/hr. This table and charts use the earliest available data for each category. [3] The value of each denomination varied from Colony to Colony; a Massachusetts pound, for example, was not equivalent to a Pennsylvania pound. Calculates the equivalent value of the U.S. dollar in any year from 1914 to 2022. Obsolete United States currency and coinage, Canceled denominations of United States currency, https://en.wikipedia.org/w/index.php?title=Early_American_currency&oldid=1129424293, Historical currencies of the United States, Short description is different from Wikidata, Articles with unsourced statements from October 2022, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 25 December 2022, at 08:11. The government would issue a new tax equal to the amount of the bills it printed, thereby giving itself an advance. 3 gr. Enter source year: (1264-1983) Enter target year: (1913-2022) Enter old value in pounds: Convert Clear. Federal report states that "the average wages of women in textile factories from 1833-1850 appear to have been $2 a week plus board, which varied from $1.25 to $1.50 a week." This effect explains how inflation erodes the value of a pound over time. 1663 Bradford house for Philip Nelson, size 34'x16', to be built for 200, half of which would be paid in corn and cattle. To distinguish this two thirds rate from the one third "Proclamation or Current Money" rate it was referred to as the rate in "Common Money" or "Pennsylvania Money." Home. how much was a pound worth in 1692. New comments cannot be posted and votes cannot be cast. 2023, https://www.officialdata.org/uk/inflation/1880?amount=1. [citation needed], The paper bills issued by the colonies were known as "bills of credit". En kevin michael waguespack brother . Convert Pounds to Dollars | GBP to USD Currency Converter There is a large difference between the two indexes. The United Kingdom converted to a decimal system of money in 1971, so today a pound is worth 100 pence. [3] The coins in circulation during the Colonial Era were, most often, of Spanish and Portuguese origin. And, of course, the servant who earned 12 pounds a year might have also got room and board on top (at some unknown valuation in today's money). Special thanks to QuickChart for their chart image API, which is used for chart downloads. Assuming the land alone accounts for 25 percent of this, land values have appreciated from a half cent per acre in 1626 to $827,000 per acre today, an increase of roughly 17 billion . It shows the exchange rate of the two currencies conversion. In 1672 Massachusetts valued the Spanish dollar at 72d (6s) or 33% above par (parity with Britain). (1) Use other forms of currency. In addition it should be noted that the price of gold coins is very dependent on the bullion value of gold. $335,000 Last Sold Price. The following calculator helps estimate the amount of mulch needed to cover an area such as a garden based on the necessary depth of the mulch layer. 3610 NW 34th Ter is a $459,900 home for sale - 5 bed, 2 bath, 1,692 Sqft, A11339588. As indicated in the note below, despite lower quotes in these dated prices the bullion value of a sovereign is about 170. Toward this end parliament enacted laws prohibiting the export of British silver coinage as it was felt the colonies should be providing Britain with precious metals rather than draining them away. "[51] Congress and the states lacked the will or the means to retire the bills from circulation through taxation or the sale of bonds.[52]. Another problem was that the British successfully waged economic warfare by counterfeiting Continentals on a large scale. In other words, 1 RM would be worth $7.44 today. 3610 NW 34th Ter, Lauderdale Lakes | Echo Fine Properties On 7th December 2021 gold bullion was about $1791 per Troy oz. The calculations are approximate and only give a rough guide to the buying power of the pound for goods and services purchased in the UK. The Middle ages started around 500 and lasted a 1000 yrs. Ft. W6759 Windfall Rd, Wausaukee, WI 54177. How much was a pound worth in the 1600s? - Quora - Quora - A place to If this number holds, $1 today will be equivalent in buying power to $1.06 next year. For example, under the 55% "upcrying" in 1705 in Massachusetts an unclipped Spanish dollar was valued at 55% above the sterling rate of 54d (4s6d) which came to 84d (7s) and a full weight Lion dollar of Holland (at 44d or 3s8d sterling) was about 68d (5s8d); thus an article costing 24s could be purchased for one Spanish dollar and three Lion dollars. The 200 Year Pound to Dollar Exchange Rate History - From $5 in 1800s to Today's $1.29. [3][5] Bills of credit were usually issued by colonial governments to pay debts. Before decimalisation, there were 20 shillings to the pound and 12 pennies to the shilling. Our article Gold Sovereign Value by Currency lists the current bullion value of gold . The result was the value of these units (pence, shilling and pound) were not on par with Britain and, to add to the confusion, their value differed in different colonies. [56], After the collapse of Continental currency, Congress appointed Robert Morris to be Superintendent of Finance of the United States. EH.Net Encyclopedia, edited by Robert Whaples. In Massachusetts, although the Spanish dollar was legislated at 7d (6s), in 1705 it is recorded at trading just under 84d (7s), a 55% increase over sterling (McCusker, p. 132 and Mossman, p. 63). ft. Square Foot (US Customary Units) Square Meter (Metric) Acre (US Customary Units) Hectare (Metric) Ping; Minimum Price to Maximum Price. At the beginning of the reign, 1688, guineas were valued at 21/6d, but by 1694 they circulated for as much as 30s. The current inflation rate compared to last year is now 6.41%. For instance, Elvis Presley's personal Bible, published in 1977, sold for $94,000 at auction in 2012. Every day we hope your family and friends discover that Super King can deliver great quality at low prices! Now go to the inflation calculators section below, and see what $2409 (or 484) in 1938 would be worth today (the MeasuringWorth.com calculator is excellent--I think it might be more accurate to use the UK . When the English colonists arrived in America they naturally continued to use the monetary units of Britain, namely the pound, shilling and pence for which 1 equalled 20s and 1s equalled 12d. Only enter the numbers, any other characters or seperation marks will be trashed, in the box to the left of British Pound Sterling (GBP), then click the "Convert" button; The continual "upcrying" of silver made bookkeeping difficult but, from the British perspective, what was even worse was that it also induced colonists to keep their silver in the colony where its value was ever increasing rather than to spend it on British imports. Banks were only just coming into being across the pond, according to this overview of 17th century life. In 1682 Massachusetts reduced the rate to 66d (5s6d) per Spanish dollar, so it would be on par with Massachusetts silver but in 1692 they once again raised its value back to 72d (6s). 2,020 USD. June 8, 2003. When $100 is equivalent to $8,310.28 over time, that means that the "real value" of a single U.S. dollar decreases over time. Convert 1000 TIGRES to 1,692.46 GBP. It allowed the existing bills to be used as legal tender for public debts (i.e. Measuring Worth - Purchasing Power of Pound For example, if you started with $100, you would need to end with $8,310.28 in order to "adjust" for inflation (sometimes refered to as "beating inflation"). A year ago today, on this day, they provided the equivalent of 1,692.00 pound sterlings for $2,294.78 us dollars, which is $253.55 more than it is now. Downing served as Speaker of the House of Burgesses from 1735 to 1739. [57] Morris helped finance the final stages of the war by issuing notes in his name, backed by his personal line of credit, which was further backed by a French loan of $450,000 in silver coins. How Much Is a Doubloon Worth? - Reference.com Understanding British Money: What's a Quid? A Shilling? Flag Currency / 1692 British Pound to Australian Dollar / 1692 British Pound to Brazilian Real / 1692 British Pound to Canadian Dollar / 1692 British Pound to Chilean Peso / 1692 British Pound to Chinese Yuan / The spread in buying and selling gold coins is an important concept to understand. 2 Baths. The estate was a sticky one. In 1690, the Province of Massachusetts Bay created "the first authorized paper money issued by any government in the Western World". A dollar today only buys 1.905% of what it could buy back then. U.S. Constitution, Article I, section 10. Adjusted for inflation, $300 in 1924 is equal to $4,835 in 2022. Review how much Toy Fox Terrier puppies for sale sell for below. Expressed in terms of the value of a Spanish dollar the exchange rates in the later colonial period would be as follows: Value of 10,000 from 1770 to 2022 10,000 in 1770 is equivalent in purchasing power to about 1,943,346.06 today, an increase of 1,933,346.06 over 252 years. Ton (metric) to Pound Conversion Table How to Convert Ton (metric) to Pound 1 t = 2204.6226218488 lbs 1 lbs = 0.0004535924 t Example: convert 15 t to lbs: 15 t = 15 2204.6226218488 lbs = 33069.339327732 lbs Popular Weight And Mass Unit Conversions kg to lbs lbs to kg grams to ounces ounces to grams pounds to ounces ounces to pounds Use the silver price per pound calculator to learn how much your items are worth per pound of silver, or to decide what you would be willing to pay based on the cost of silver per pound. How much is platinum? (To complicate the work of a student historian, the abbreviation p now stands for pence, so "50p" is 50 pence, or half a pound.) As recently as 2014, 1 was worth $1.70. The price index for 1985 = 44.6. Convert 1922 GBP / 1922 USD to major currencies GBP to USD Exchange Rate History Chart Base: Target: From: To: Popular Conversions They shipped raw materials to England/Britain (and in fact New Englanders who had no cash crop made much of their money in the shipping business). Old Bibles published between 1900-2000 are almost exclusively considered reading material and unless your copy was owned by someone famous, it is not worth further research. A male servant in the 1690s made 12 (in local specie) for a year doing work like cutting and carting firewood, making fire, and tending cattle. It also shows the history chart of this currency pairs, by choosing the time period you can get more detailed information. We use several sources to create our calculator. How do Pounds from the 1700s translate into USD today? All we can say is that 31 pounds is not the sort of sum you would just shrug off if it was stolen. In the example above, five pounds in 1950 is "worth" anywhere from $85 to $194 in 2000 U.S. dollars, depending on which price index is used and which year the conversion takes place. Ian Webster is an engineer and data expert based in San Mateo, California. Over the last 7 days, the best beneficial exchange rate was $2,050.83. It looks like you're using Internet Explorer 11 or older. Early American currency - Wikipedia As of 04 March, 2023, 11,191 KMF to USD = 24.139 US Dollar. In 1694, 133.66 in Massachusetts was equivalent to 100 pounds sterling. Gold $20 Double Eagle 24 Coronet Head 21 Saint Gaudens 3. For dates from 1750 until 1948 we use the Office for National Statistics' (ONS) Composite Price Index. The Spanish silver dollar was authorized to be produced at about 420 grains of .9350 fine silver. Act passed June 1780 authorizing Harris and Bowler to sign Rhode Island currency. http://www.potterybarn.com/products/pb-organic-400-thread-count-sheet-set/?pkey=csheet-sets&&csheet-sets. In fact in 1692, the year in which Massachusetts once again legislated the value of the Spanish dollar at 72d (6s), the coin is recorded to have passed in trade in New England at 74d (6s2d) or 36% above par and in 1705 it was recorded to have passed at 83.6d or almost 84d (7s), that is 55% above par (see Mossman, table 6, pp. This is the price you can expect to budget for a Toy Fox Terrier with papers but without breeding rights nor show quality. Why Are Twin Studies Important In Psychology, 1.3989873417722 $. The current exchange rate is equivalent to 0.947. The 200 Year Pound to Dollar Exchange Rate History - From $5 in 1800s It would seem likely that the Pounds inception in the 8th century as a pound of silver was enormous wealth and only a reasonable sum by the end of the period. Sunday 10 January 2021. With the shortage of silver though, it could be traded at a premium in the colonies. Used 350 Hornady RN @ 2,260fps in over left eye, centered the brain, smashed 3 vertebrae, then exited out the back of then neck. To get the total inflation rate for the 143 years between 1880 and 2023, we use the following formula: Plugging in the values to this equation, we get: Raw data for these calculations comes from the composite price index published by the UK Office for National Statistics (ONS). Bills of credit could not be exchanged for a fixed amount of gold or silver coins upon demand, but were redeemable at a time specified in the future. Modern quarters, minted 1965 and later find premium values in Mint State (no wear) condition. Colonial currency was a downright mess. A massive 396,000 with commission included! Gold $3 3 Indian Princess Head 3. [4] However, as the colonies began printing their own money, location-based socio economic issues soon followed. For instance, Elvis . If this number holds, $100 today will be equivalent in buying power to $106.41 next year. The guinea (/ n i /; commonly abbreviated gn., or gns. Assuming the land alone accounts for 25 percent of this, land values have appreciated from a half cent per acre in 1626 to $827,000 per acre today, an increase of roughly 17 billion . The Value of Money in Colonial America - University of Notre Dame Thereafter, the value escalated higher, especially in South Carolina (McCusker, p. 214 and Mossman, pp. What would 1 pound in 1692 be worth today? - Answers "Credit in the Colonial American Economy". 1922 GBP = 2317.932 USD The currency exchange rate, calculated between British Pound Sterling and US Dollar on 02/06/2023 is 1 GBP = 1.206 USD - AVERAGE intraday quotes were used for this currency conversion. 175-176 and Mossman, pp. What year was two centuries after 1492? In 1682 Massachusetts reduced the rate to 66d (5s6d) per Spanish dollar, so it would be on par with Massachusetts silver but in 1692 they once again raised its value back to 72d (6s). These rates were not approved by the Board of Trade but the market value of the Spanish dollar continued to rise; by the 1740's the Spanish dollar was trading at 96d (8s), a 78% increase over sterling (McCusker, 157-159). But, as you can see from the examples of the bedstead index and the sheet index, all such conversions of old money into todays money are problematical estimations. Measuring Worth - pounds to dollars or dollars to pounds Records show that Hopkins and his stooge John Stearne earned 23 pounds (over $5,600 in today's money) from hunting in Stowmarket, England. Breaking down these categories helps explain the main drivers behind price changes. Enter the amount to be converted in the box to the left of Romanian Leu. The dollar had an average inflation rate of 1.34% per year between 1692 and today, producing a cumulative price increase of 8,144.36%. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. 100 Nectar points are worth 50p; 500 Nectar points are worth 2.50; 1000 Nectar points are worth 5; 5000 Nectar points are worth 25; 10000 Nectar points are . This website works best with modern browsers such as the latest versions of Chrome, Firefox, Safari, and Edge. Thereafter, with the exception of the Revolutionary War era, rates somewhat stabilized with New England, Virginia and the south adhering to the proclamation rate of a one third or 33.33% "upcrying" so that a Spanish dollar traded at 72d (6s). By calculating the value in 1692 dollars, the chart below shows how $100 is worth less over 331 years. Click on a category such as "Food" to toggle it on or off: For all these visualizations, it's important to note that not all categories may have been tracked since 1650. 122, 28 L.Ed. Please note that prices for sovereigns after 1978 given above were valid in 2007 when gold prices were much lower.
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