To free Bangladesh from the exploitation of Pakistan, Sheikh Mujibur Rahman, President of the Awami League declared Six-Point Formula on 13th February, 1966 when he failed to declare in the conference of opposition held in Lahore. The six clauses were the reflector of independence of the Bangladeshi people. Freedom of habitation, eating, clothing all these basic needs were assured to be provided by the clauses. So people of East Pakistan supported this from their heart. The six clauses were: Clause 01: Constitutional Structure and Nature of State: According to ‘Lahore Proposal’, it was estimated that Pakistan Constitution would be redefined and a real federal system must be introduced. The federal government would be parliamentary system. The members of the parliament would be decided by the votes of voters at both central and provisional sector. Clause 02: The Power Of Central Government: Safety of the nation and International Relation concerning matters would be the dealing job of central job. The other functions would be done by the government of the provinces. Clause 03: Currency and Money System: There were two options: a) There would have two easily transferable currencies in two states. There would be two state banks in two states. The Local Government would have the power and authority to control the currency and state bank. Or- b) There would be the same currency in two states. But strict control would be present there to control the smuggling of money from one
On April 9, 1946, Muslim League's Central and Provincial Legislators had requested through a determination that the six territories of Bengal and Assam in upper east and Punjab, N.W.F.P, Sindh and Baluchistan in the northwest be constituted into a sovereign and the autonomous condition of
4. Explain the meaning of “strong” currency and “weak” currency. What are the advantages and disadvantages of each?
Everyone in the country will be residing in what is called “Local Nations”. These Local Nations are set by the citizen’s income levels. So, citizens with lower income levels will be in different Local Nations than citizens who have higher income levels. Currency itself is natural resources. These Natural resources can be food, water, electricity, or anything else that aids survival. In order to get this type of resources or income, people have to fight and compete for them. This can be done in several ways. Cabinet members can get the
After the War of 1812 each state had to issue its own currency, which oftentimes had no monetary value, because of the crippling national economy. Therefore, the wide array of currencies in different states greatly deflated prices, causing a crash in the market and hindered industries to properly function. The Federal Government signed a bill that created a Nation Bank for the country which allowed the nation to use a single form of currency that overtime stabilized the economy (Doc. J). With the single currency, industries did not have to worry about different currencies; as a result, those corporates sold and traded more products, stimulating the economy from a recession. Additionally, under Henry Clay’s system, people could obtain loans for expansion of industries and investments from banks more easily. With the available money source, investors had more opportunities to start up their own industries even if individuals did not have enough money at that time. However, eventual growth in the economy from those industries promoted economic growth throughout the nation and led to industrialization. As the federal government worked to unite everyone under one bank, it also regulated interstate commerce. With the interstate commerce in effect, individual states could not change their contracts by themselves but instead have to cooperate with the
This gives them another level of control over them. This shows how the laws of currency showed the control the government
In addition to that, the State Council has “the power of administrative legislation, power to submit proposals, the power of administrative leadership, the power of economic management, the power of diplomatic administration, the power of social administration, and other powers granted by the NPC and its Standing Committee”(Government)
After Congress refused to open a National Bank prior to the war, the states began establishing their own banks. This resulted in numerous amounts of currency that varied from state to state. People were confused as to which currency have the most value. The Second Bank of the United States was created to provide some structure to the currency system. This bank was designed to support congressman of the western and southern parts of the United States. John Calhoun drafted a bill regarding the Second Bank of the United States (Schultz
The BNA act had to determine what the federal and provincial government would be in charge of in the new country. The federal government passes laws that will be followed by the entire country, while the provincial government passes laws for their specific province only. The federal government is in charge of: the Public Debt and Property, the Regulation of Trade and Commerce, the Raising of Money by any Mode or System of Taxation, postal Service, militia, military, naval service, defense, navigation and shipping, currency and Coinage, banking, Incorporation of Banks, the Issue of Paper Money, bankruptcy and Insolvency, Indians, and Lands reserved for the Indians, naturalization and Aliens, marriage and Divorce, and the Criminal Law. The provincial Government is in charge of; direct Taxation within the Province in order to the raising of a Revenue for Provincial Purposes, The Management and Sale of the Public Lands belonging to the Province and of the Timber and Wood thereon, The Establishment, Maintenance, and Management of Hospitals, Asylums, Charities, Shop, Saloon, Tavern, Auctioneer, and other Licenses in order to the raising of a Revenue for Provincial, Local, or Municipal Purpose The Solemnization of Marriage in the Province, Property and Civil Rights within the Province, The Administration of Justice in the Province, Generally all Matters of a merely local or private Nature in the Province. If one party does pass a law that intrudes on the
I believe a country that just takes its independence from a super power of the world, they should have one type of money so that every state uses one banknote. I am strongly against the Article of Confederation because it did not allow central government to print one banknote. I believe it creates many problems for all citizens while they try to do business with other states. For instance, I believe when business men from Virginia would import anything from New York, they had to exchange their money before doing business. It will also be an obstacle for the business men who might lose some of their money while they exchange into another banknote. Additionally, when there is limitation that obviously makes less interest businessmen to invest their money, especially a country which is in progress of development and
Out west thousands of ordinary shop keepers, millers, farmers and other business owners cannot get the currency and the loans they need to run their concerns. How do you develop and grow the economy of a new state without currency, or worse yet, with paper currency of dubious worth? I say let us do away with all paper money, I do not trust it. Gold and Silver coin have intrinsic and eternal value, paper does not. We should also rely on our local and state banks, run by the people who live in and understand our communities, to control the currency needed for commerce, not some faceless, monopolistic national bank.
The Quran, Islam’s foundation, also preaches many of the values familiar to democracy. Bhutto references the Quran, stating “(Allah)... created people of different views and perspectives… and that diversity is good” (178). She goes on to offer her interpretation of the holy book, saying “the message of the Quran empowers people with rights (democracy)” (178). By using multiple references, Bhutto establishes her knowledge of the governing body of Pakistan and the Islamic religion. It is difficult for the reader to doubt her authority on the subject.
Not surprisingly, the lack of a banking system has led to currency substitution that appears in many forms. Some use foreign currency or the plentiful counterfeit bills, while others use money issued by regional
India and Pakistan Dispute This dispute dates back to the partition of the British Indian Empire,
On August 1, 2015. Bangladesh and India officially exchanged 162 enclaves to finish a centuries-old territorial violation and fulfill a process of land and population exchange which began in the 1950s.An enclave is a fragmented territory of one state which is locates the territory of another state .The enclaves of Bangladesh and India are situated deep inside their respective countries turning out a strong incidence on their administration. On the other hand, the sovereign country has no real control over its respective enclave; People of the enclaves’ area lead a miserable life. Because they are originally outcaste and refused entrance to basic infrastructure due to their peculiar geographical position .The Land Boundary Agreement Bill searches to address this problem through exchanging enclaves between the two countries and redrawing the complex border.
After 1947, Pakistan felt that Pakistan is deprived because Kashmir has a majority of Muslim people and they have a right to choose their future