FREE PRESS, THE NEW YORK TIMES VS. NEW YORK POST

Today, The Grandma has visited The New York Times headquarters in New York City. 

It has been an interesting visit to talk about modern journalism, fake news and free spech.

The New York Times is an American daily newspaper based in New York City with a worldwide readership.

It was founded in 1851 by Henry Jarvis Raymond and George Jones, and was initially published by Raymond, Jones & Company. The Times has won 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national newspaper of record. It is ranked 18th in the world by circulation and 3rd in the U.S.

The paper is owned by The New York Times Company, which is publicly traded. It has been governed by the Sulzberger family since 1896, through a dual-class share structure after its shares became publicly traded.

A. G. Sulzberger and his father, Arthur Ochs Sulzberger Jr. -the paper's publisher and the company's chairman, respectively- are the fifth and fourth generations of the family to head the paper.

Since the mid-1970s, The New York Times has expanded its layout and organization, adding special weekly sections on various topics supplementing the regular news, editorials, sports, and features.

Since 2008, the Times has been organized into the following sections: News, Editorials/Opinions-Columns/Op-Ed, New York (metropolitan), Business, Sports, Arts, Science, Styles, Home, Travel, and other features.

On Sundays, the Times is supplemented by the Sunday Review (formerly the Week in Review), The New York Times Book Review, The New York Times Magazine, and T: The New York Times Style Magazine.

The New York Times was founded as the New-York Daily Times on September 18, 1851. Founded by journalist and politician Henry Jarvis Raymond and former banker George Jones, the Times was initially published by Raymond, Jones & Company. Early investors in the company included Edwin B. Morgan, Christopher Morgan, and Edward B. Wesley.

The New York Times switched to a digital production process sometime before 1980, but only began preserving the resulting digital text that year.

In 1983, the Times sold the electronic rights to its articles to LexisNexis. As the online distribution of news increased in the 1990s, the Times decided not to renew the deal and in 1994 the newspaper regained electronic rights to its articles.

On January 22, 1996, NYTimes.com began publishing.

The New York Times has had one slogan. Since 1896, the newspaper's slogan has been All the News That's Fit to Print.

More information: The New York Times

The New York Post (NY Post) is a conservative daily tabloid newspaper published in New York City.  

The Post also operates NYPost.com, the celebrity gossip site PageSix.com, and the entertainment site Decider.com.

It was established in 1801 by Federalist and Founding Father Alexander Hamilton, and became a respected broadsheet in the 19th century under the name New York Evening Post. Its most famous 19th-century editor was William Cullen Bryant.

In the mid-20th century, the paper was owned by Dorothy Schiff, a devoted liberal, who developed its tabloid format. In 1976, Rupert Murdoch bought the Post for US$30.5 million. Since 1993, the Post has been owned by Murdoch's News Corp. Its distribution ranked 4th in the US in 2019.

The Post was founded by Alexander Hamilton with about US$10,000, equivalent to $162,860 in 2021, from a group of investors in the autumn of 1801 as the New-York Evening Post, a broadsheet. Hamilton's co-investors included other New York members of the Federalist Party, such as Robert Troup and Oliver Wolcott, who were dismayed by the election of Thomas Jefferson as U.S. president and the rise in popularity of the Democratic-Republican Party.

The meeting at which Hamilton first recruited investors for the new paper took place in Archibald Gracie's then-country weekend villa that is now Gracie Mansion. Hamilton chose William Coleman as his first editor.

The most famous 19th-century Evening Post editor was the poet and abolitionist William Cullen Bryant. So well respected was the Evening Post under Bryant's editorship, it received praise from the English philosopher John Stuart Mill, in 1864.

In 1996, the New York Post launched an Internet version of the paper.

More information: New York Post

  'The New York Times' is inherent in what we are,
but not worn as 'what we are';
it's important and crucial to all of us,
but not something that was drilled in,
in any specific ways.

Arthur Ochs Sulzberger, Jr.

THE BANK OF NORTH AMERICA OPENS IN PHILADELPHIA

Today, The Grandma has been reading about the Bank of North America, the first chartered bank in the United States, that was opened in Philadelphia on a day like today in 1782.

The Bank of North America was the first chartered bank in the United States, and served as the country's first de facto central bank.

Chartered by the Congress of the Confederation on May 26, 1781, and opened in Philadelphia on January 7, 1782, it was based upon a plan presented by Superintendent of Finance Robert Morris on May 17, 1781, based on recommendations by Revolutionary era figure Alexander Hamilton.

Although Hamilton later noted its essential contribution to the war effort, the Pennsylvania government objected to its privileges and reincorporated it under state law, making it unsuitable as a national bank under the federal Constitution. Instead Congress chartered a new bank, the First Bank of the United States, in 1791, while the Bank of North America continued as a private concern.

In May 1781, Alexander Hamilton revealed that he had recommended Robert Morris for the position of Superintendent of Finance of the United States the previous summer when the constitution of the Articles of Confederation-era executive was being solidified. Second, he proceeded to lay out a proposal for a national bank that would also serve as a de facto central bank. Morris, who had corresponded with Hamilton previously on the subject of funding the war, immediately drafted a legislative proposal based on Hamilton's suggestion and submitted it to the Congress. Morris persuaded Congress to charter the Bank of North America, the first private commercial bank in the United States. His friend, Dr. Hugh Shiell, paid £5000 to the capital stock.

More information: Philadelphia Encyclopedia

By 1783, Congress and several states including Massachusetts enacted legislation, allowing Americans to pay public dues with Bank of North America notes, giving them a crucial aspect of legal tender.

In the economic turmoil that followed the Revolutionary War, the bank's strictness in collecting debts drew opposition from Pennsylvania residents, who petitioned the General Assembly to revoke the state charter granted to it in 1782. This was done in 1785, although the bank continued to operate with difficulty under its congressional charter and then under a Delaware charter.

The following year the Assembly granted a new charter with several restrictions, including that it could not trade any merchandise other than bullion.

The Bank of North America, along with the First Bank of the United States and the Bank of New York were the first shares traded on the New York Stock Exchange.

After the passage of the National Bank Act in 1862, the Bank of North America converted its business to operate under the new law. Its unique history presented a problem: the act required a national bank to include the word national in its name.

The bank's management considered its original name a matter of prestige and took the position that the name remained fixed by the Confederation and state charters. The Comptroller of the Currency chose not to press these legal questions and admitted the bank without a name change.

The bank merged in 1923 with the Commercial Trust Company to become the Bank of North America and Trust Company, which merged in 1929 with the Pennsylvania Company for Insurances on Lives and Granting Annuities. That company (as the Pennsylvania Company for Banking and Trust) merged with the First National Bank (Philadelphia) in 1955 to become The First Pennsylvania Banking and Trust Company. This was later acquired by CoreStates Financial Corporation (1991), First Union/Wachovia (1998) and Wells Fargo (2008).

More information: Library of Congress

It is not the style of clothes one wears,
neither the kind of automobile one drives,
nor the amount of money one has in the bank,
that counts. These mean nothing.
It is simply service that measures success.

George Washington Carver

1789, THE US DEPARTMENT OF THE TREASURY IS FOUNDED

Today, The Grandma has been reading about one of the most important American institutions, the Department of the Treasury, that was founded on a day like today in 1789.

The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department.

The department oversees the Bureau of Engraving and Printing and the U.S. Mint. These two agencies are responsible for printing all paper currency and coins, while the treasury executes its circulation in the domestic fiscal system.

The USDT collects all federal taxes through the Internal Revenue Service; manages U.S. government debt instruments; licenses and supervises banks and thrift institutions; and advises the legislative and executive branches on matters of fiscal policy. 

The department is administered by the secretary of the treasury, who is a member of the Cabinet. The treasurer of the United States has limited statutory duties, but advises the Secretary on various matters such as coinage and currency production. Signatures of both officials appear on all Federal Reserve notes.

Established by an Act of Congress in 1789 to manage government revenue, the first secretary of the treasury was Alexander Hamilton, sworn into office on September 11.

Hamilton was appointed by President George Washington on the recommendation of Robert Morris, Washington's first choice for the position, who had declined the appointment. Hamilton established the nation's early financial system and for several years was a major presence in Washington's administration.

The office is customarily referred to as Treasury, solely, without any preceding article, as a remnant of the country's transition from British to American English during the late 18th century. Hamilton's portrait appears on the obverse of the ten-dollar bill, while the Treasury Department building is depicted on the reverse.

More information: U.S. Department of the Treasury

The history of the Department of the Treasury began in the turmoil of the American Revolution, when the Continental Congress at Philadelphia deliberated the crucial issue of financing a war of independence against Great Britain.

The Congress had no power to levy and collect taxes, nor was there a tangible basis for securing funds from foreign investors or governments. The delegates resolved to issue paper money in the form of bills of credit, promising redemption in coin on faith in the revolutionary cause.

The First Congress of the United States was called to convene in New York on March 4, 1789, marking the beginning of government under the Constitution. 

On September 2, 1789, Congress created a permanent institution for the management of government finances.

The basic functions of the Department of the Treasury mainly include:

-Producing all currency and coinage of the U.S.;

-Collecting taxes, duties and money paid to and due to the U.S.;

-Paying all bills of the U.S.;

-Managing the federal finances;

-Managing government accounts and the United States public debt;

-Supervising national banks and thrift institutions;

-Advising on domestic and international financial, monetary, economic, trade and tax policy (fiscal policy being the sum of these);

-Enforcing federal finance and tax laws;

-Investigating and prosecuting tax evaders;

-Publishing statistical reports.

More information: Twitter-U.S.Department of the Treasury

 I sincerely believe that banking establishments
are more dangerous than standing armies,
and that the principle of spending money to be paid by posterity,
under the name of funding, is but swindling futurity on a large scale.

Thomas Jefferson

JOURNALISM, THE NEW YORK TIMES VS. NEW YORK POST

Today, The Grandma has visited The New York Times headquarters in New York City. 

It has been an interesting visit to talk about modern journalism, fake news and free spech.

Some Newtons are still is New York City. Fati, Fatima, Raquel and Yamina continue preparing their Cambridge Exam and today they have studied Demonstratives.

More information: Demonstratives

The New York Times is an American daily newspaper based in New York City with a worldwide readership.

It was founded in 1851 by Henry Jarvis Raymond and George Jones, and was initially published by Raymond, Jones & Company. The Times has won 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national newspaper of record. It is ranked 18th in the world by circulation and 3rd in the U.S.

The paper is owned by The New York Times Company, which is publicly traded. It has been governed by the Sulzberger family since 1896, through a dual-class share structure after its shares became publicly traded.

A. G. Sulzberger and his father, Arthur Ochs Sulzberger Jr. -the paper's publisher and the company's chairman, respectively- are the fifth and fourth generations of the family to head the paper.

Since the mid-1970s, The New York Times has expanded its layout and organization, adding special weekly sections on various topics supplementing the regular news, editorials, sports, and features.

Since 2008, the Times has been organized into the following sections: News, Editorials/Opinions-Columns/Op-Ed, New York (metropolitan), Business, Sports, Arts, Science, Styles, Home, Travel, and other features.

On Sundays, the Times is supplemented by the Sunday Review (formerly the Week in Review), The New York Times Book Review, The New York Times Magazine, and T: The New York Times Style Magazine.

The New York Times was founded as the New-York Daily Times on September 18, 1851. Founded by journalist and politician Henry Jarvis Raymond and former banker George Jones, the Times was initially published by Raymond, Jones & Company. Early investors in the company included Edwin B. Morgan, Christopher Morgan, and Edward B. Wesley.

The New York Times switched to a digital production process sometime before 1980, but only began preserving the resulting digital text that year.

In 1983, the Times sold the electronic rights to its articles to LexisNexis. As the online distribution of news increased in the 1990s, the Times decided not to renew the deal and in 1994 the newspaper regained electronic rights to its articles.

On January 22, 1996, NYTimes.com began publishing.

The New York Times has had one slogan. Since 1896, the newspaper's slogan has been All the News That's Fit to Print.

More information: The New York Times

The New York Post (NY Post) is a conservative daily tabloid newspaper published in New York City.  

The Post also operates NYPost.com, the celebrity gossip site PageSix.com, and the entertainment site Decider.com.

It was established in 1801 by Federalist and Founding Father Alexander Hamilton, and became a respected broadsheet in the 19th century under the name New York Evening Post. Its most famous 19th-century editor was William Cullen Bryant.

In the mid-20th century, the paper was owned by Dorothy Schiff, a devoted liberal, who developed its tabloid format. In 1976, Rupert Murdoch bought the Post for US$30.5 million. Since 1993, the Post has been owned by Murdoch's News Corp. Its distribution ranked 4th in the US in 2019.

The Post was founded by Alexander Hamilton with about US$10,000, equivalent to $162,860 in 2021, from a group of investors in the autumn of 1801 as the New-York Evening Post, a broadsheet. Hamilton's co-investors included other New York members of the Federalist Party, such as Robert Troup and Oliver Wolcott, who were dismayed by the election of Thomas Jefferson as U.S. president and the rise in popularity of the Democratic-Republican Party.

The meeting at which Hamilton first recruited investors for the new paper took place in Archibald Gracie's then-country weekend villa that is now Gracie Mansion. Hamilton chose William Coleman as his first editor.

The most famous 19th-century Evening Post editor was the poet and abolitionist William Cullen Bryant. So well respected was the Evening Post under Bryant's editorship, it received praise from the English philosopher John Stuart Mill, in 1864.

In 1996, the New York Post launched an Internet version of the paper.

More information: New York Post 

 'The New York Times' is inherent in what we are,
but not worn as 'what we are';
it's important and crucial to all of us,
but not something that was drilled in,
in any specific ways.

Arthur Ochs Sulzberger, Jr.