Sterling

Sterling 1 City (1990 pop. 10,362), seat of Logan co., NE Colo., on the South Platte River; inc. 1884. It is the trading and shipping center of an agricultural area (grain, cattle, dairy products). Oil-related industries developed when oil was discovered nearby in the 1950s. Farm machinery and metal products are manufactured. 2 City (1990 pop. 15,132), Whiteside co., NW Ill., on the Rock River opposite Rock Falls ; inc. 1841. It is an industrial center in a farm region. Steel products and machinery are manufactured.

sterling. Throughout the 18th century the Irish pound existed as a notional currency, whose value was fixed at twelve‐thirteenths of a pound sterling. The first notes issued by the Bank of Ireland in 1783 could be redeemed at twelve‐thirteenths of the specie value of the English pound. From 1797 the value of the Irish pound was allowed to float and it depreciated against the English pound. In 1826 both currencies were assimilated. Although the Irish Free State issued its own currency after 1927, it was at parity with the pound sterling, with 100 per cent backing in gold, sterling, or British government securities. This remained the position until 1979 when Ireland, but not Britain, joined the European Monetary System.

see Alsomoney.

Mary Daly

sterling Term for British currency. It is used to distinguish the UK pound from those of other currencies and can also be used to describe the quality and standard weight of coins. The sterling silver mark on silver (the stamp of a lion passant) represents a purity of more than 90%.