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106-433: Panavision operates exclusively as a rental facility—the company owns its entire inventory, unlike most of its competitors. Robert Gottschalk founded Panavision in late 1954, in partnership with Richard Moore , Meredith Nicholson , Harry Eller, Walter Wallin, and William Mann; the company was formally incorporated in 1954. Panavision was established principally for the manufacture of anamorphic projection lenses to meet

212-467: A debt restructuring arrangement with Panavision's creditors. Private equity firm Cerberus Capital was the lead investor in the deal, which involved a US$ 140 million reduction in debt and a US$ 40 million cash infusion. In return the majority shareholder Ronald Perelman was required to relinquish control of Panavision, and he no longer has any equity in the company. In June 2013, its creditors sued over an unpaid debt of $ 1.7 million, threatening to dissolve

318-403: A New York optics company, for use in their underwater photography. As widescreen filmmaking became popular, Gottschalk saw an opportunity to provide anamorphic lenses to the film industry—first for projectors , and then for cameras. Nicholson, a friend of Moore, started working as a cameraman on early tests of anamorphic photography. In the 1950s, the motion picture industry was threatened by

424-529: A clerk. In 1951, at the request of the U.S. Aqua-Lung distributor, Gottschalk began working on developing an underwater camera. This would lead to Gottschalk's first purchase of two anamorphic lens attachments made by the C. P. Goerz Company . Equipment restrictions at the time made wide-angle filming difficult. Gottschalk and Moore would set up a makeshift workshop on the balcony of the store, and began designing, modifying, and experimenting with anamorphic lens equipment patented by Henri Chrétien . In 1953,

530-407: A demo reel of work with their anamorphic underwater system. Gottschalk learned from one of his vendors that Bausch & Lomb , whom Fox had contracted to manufacture CinemaScope lenses, was having difficulty filling the lens orders for theatrical anamorphic projection equipment. He teamed up with William Mann, who provided optical manufacturing capability, and Walter Wallin, an optical physicist who

636-459: A designer for Panavision and—after opening some of the older lenses—figured out the secret. In the mid-1960s, Gottschalk altered Panavision's business model. The company now maintained its full inventory, making its lenses and the cameras it had acquired from MGM available only by rental. This meant that equipment could be maintained, modified, and regularly updated by the company. When Panavision eventually brought its own camera designs to market, it

742-507: A digital electronic tachometer and magazine motors for the take-up reel. Ted Post 's Magnum Force (1973) and Steven Spielberg 's The Sugarland Express (1974) were the first motion pictures filmed with the Panaflex. During the 1970s, the Panaflex line was updated and marketed in new incarnations: the Panaflex X, Panaflex Lightweight (for steadicam ), the high-speed Panastar, Panaflex Gold, and Panaflex G2. Panavision came out with

848-485: A direct competitor to Tiffen 's Steadicam stabilizer, the Panaglide harness. The Panacam, a video camera , was also brought out, though the company largely left the video field to others. Robert Gottschalk died in 1982 at the age of 64. After Gottschalk's death, Warner Communications sold the company to a consortium headed by Ted Field , John Farrand , and Alan Hirschfield. With new ownership came sweeping changes to

954-487: A dollar are emitted as Federal Reserve Notes , disregarding these special cases: In the 16th century, Count Hieronymus Schlick of Bohemia began minting coins known as joachimstalers , named for Joachimstal , the valley in which the silver was mined. In turn, the valley's name is titled after Saint Joachim , whereby thal or tal , a cognate of the English word dale , is German for 'valley.' The joachimstaler

1060-757: A dollar, and dimes at 0.100 of a dollar. After the adoption of the United States Constitution , the U.S. dollar was defined by the Coinage Act of 1792 . It specified a "dollar" based on the Spanish milled dollar to contain 371 + 4 ⁄ 16 grains of fine silver, or 416.0 grains (26.96 g) of "standard silver" of fineness 371.25/416 = 89.24%; as well as an "eagle" to contain 247 + 4 ⁄ 8 grains of fine gold, or 270.0 grains (17.50 g) of 22 karat or 91.67% fine gold. Alexander Hamilton arrived at these numbers based on

1166-648: A few cases, U.S. coins) used in circulation. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . As of February 10, 2021, currency in circulation amounted to US$ 2.10 trillion , $ 2.05 trillion of which is in Federal Reserve Notes (the remaining $ 50 billion is in the form of coins and older-style United States Notes ). As of September 20, 2023,

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1272-545: A grain of pure, or four hundred and sixteen grains of standard silver. Section 20 of the Act designates the United States dollar as the unit of currency of the United States: [T]he money of account of the United States shall be expressed in dollars, or units...and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. Unlike

1378-575: A limited extent" as money. Treasury Notes were again printed to help resolve the reduction in public revenues resulting from the Panic of 1837 and the Panic of 1857 , as well as to help finance the Mexican–American War and the Civil War . Paper money was issued again in 1862 without the backing of precious metals due to the Civil War . In addition to Treasury Notes, Congress in 1861 authorized

1484-741: A major film services group for $ 61m (£37.5m). The British-based company was formerly known as Samuelson Group PLC. The company operated three rental depots in the UK and was main agent for Panavision in France and Australia. It also had smaller rental operations in New Zealand, Singapore, Malaysia, and Indonesia. Crucially, it controlled three Panavision agencies in the US cities of Atlanta, Chicago, and Dallas (acquired from Victor Duncan, Inc.). Panavision CEO William C Scott said, "This transaction provides Panavision with

1590-550: A majority interest in Panavision in 1998, via a Mafco subsidiary. After aborted attempts to create a film-style video camera in the 1970s and 1980s, Panavision joined the digital revolution in July 2000, establishing DHD Ventures in partnership with Sony . The new company's objective was to raise the quality of high definition digital video to the standards of top-level Hollywood motion-picture production. This cooperative venture

1696-694: A mixture of 35mm film and the Genesis, actually went into general release first because of the extensive visual effects work needed to complete both Flyboys and Superman Returns. Subsequent to the completion of major design work on the Genesis, Panavision bought out Sony's 49 percent share of DHD Ventures and fully consolidated it in September 2004. During the same period, Panavision began acquiring related motion picture companies, including EFILM (acquired 2001; sold to Deluxe in full by 2004), Technovision France ( Henryk Chroscicki  [ it ] ) (2004),

1802-629: A much smaller camera body—making it suitable for studio, handheld, and steadicam work—but also marked the first significant change to the film transport mechanism in the camera since the Panaflex: two smaller sprocket drums for feed and take-up (a design similar to the Moviecam and subsequent Arricam ) instead of one large drum to do both. As of 2006, Panavision has no further plans to develop additional film camera models. In May 1997, Panavision announced it would be purchasing Visual Action Holdings PLC,

1908-678: A series of revisions to the gold peg was implemented, culminating in the Nixon Shock of August 15, 1971, which suddenly ended the convertibility of dollars to gold. The U.S. dollar has since floated freely on the foreign exchange markets . Congress continued to issue paper money after the Civil War, the latest of which is the Federal Reserve Note that was authorized by the Federal Reserve Act of 1913 . Since

2014-426: A significant share of the market. In 1968, Panavision released a handheld 65 mm camera. By that time, however, the much cheaper process of blowing up 35 mm anamorphic films to 70 mm—introduced with The Cardinal (1964)—had made 65 mm production virtually obsolete. In 1970, the last two feature films shot entirely with Super Panavision were released: Song of Norway and Ryan's Daughter . In

2120-559: A special bracket. Its variable prismatic system allowed a range of film formats to be shown from the same projector with a simple adjustment of the lens. Panavision improved on the Super Panatar with the Ultra Panatar, a lighter design that could be screwed directly to the front of the projection lens. Panavision lenses gradually replaced CinemaScope as the leading anamorphic system for theatrical projection. In December 1954,

2226-569: A strong platform on which to grow the international side of our business and also completes our company-controlled distribution system in the US. Additionally, we will immediately expand our presence in key Southeast Asia markets, where television and film activity are expect to grow rapidly. Overall, the transaction enables us to control a true worldwide distribution network for Panavision’s camera systems and related products, one of our most important strategic objectives." Ronald Perelman 's solely owned MacAndrews & Forbes Holdings (Mafco) acquired

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2332-487: A treasury assay of the average fine silver content of a selection of worn Spanish dollars , which came out to be 371 grains. Combined with the prevailing gold-silver ratio of 15, the standard for gold was calculated at 371/15 = 24.73 grains fine gold or 26.98 grains 22K gold. Rounding the latter to 27.0 grains finalized the dollar's standard to 24.75 grains of fine gold or 24.75*15 = 371.25 grains = 24.0566 grams = 0.7735 troy ounces of fine silver. The same coinage act also set

2438-453: A true 35 mm depth of field . The camera's electronics—including its CCD ( charge-coupled device ) image sensor —and HDCAM SR record deck were manufactured by Sony. The chassis and mechanics were designed by a Panavision team led by Albert Mayer Jr., son of the Panaflex designer. The Genesis was first used on Superman Returns (2006) followed soon after by Flyboys (2006); But the comedy Scary Movie 4 (2006), shot afterward on

2544-413: A widening of the face due to a loss of anamorphic power as a subject approaches the lens. Because of the novelty of the new anamorphic process, early CinemaScope productions compensated for this aberration by avoiding tightly framed shots. As the anamorphic process became more popular, it became more problematic. Panavision invented a solution: adding a rotating lens element that moved in mechanical sync with

2650-465: A wider field of view from his underwater camera housing. The technology was created during World War I to increase the field of view on tank periscopes ; the periscope image was horizontally "squeezed" by the anamorphic lens. After it was unsqueezed by a complementary anamorphic optical element, the tank operator could see double the horizontal field of view without significant distortion. Gottschalk and Moore bought some of these lenses from C. P. Goerz ,

2756-402: Is a 2.20:1 aspect ratio, rather than the broader ratio originally intended. Although Fox insisted on maintaining CinemaScope for a time, some actors disliked the system. For Fox's 1965 production Von Ryan's Express , Frank Sinatra reputedly demanded that Auto Panatar lenses be used. Such pressures led Fox to completely abandon CinemaScope for Auto Panatars that year; Von Ryan's Express was

2862-454: Is one of the first words of Section 9, in which the term refers to the Spanish milled dollar , or the coin worth eight Spanish reales . In 1792, the U.S. Congress passed the Coinage Act , of which Section 9 authorized the production of various coins, including: Dollars or Units —each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of

2968-460: Is that it is derived from the Pillars of Hercules on the Spanish coat of arms of the Spanish dollar . These Pillars of Hercules on the silver Spanish dollar coins take the form of two vertical bars ( || ) and a swinging cloth band in the shape of an S . Yet another explanation suggests that the dollar sign was formed from the capital letters U and S written or printed one on top of

3074-524: The CinemaScope process, based on Chrétien's patents, was purchased and named by 20th Century Studios . While the camera lenses were now available, the process required projection lenses as well. Gottschalk teamed up with several colleagues and began offering projection lenses under the name Panavision, which used prismatic rather than cylindrical optics. This led to a successful expansion into lenses for cameras, which are still widely used. Gottschalk

3180-468: The Coinage Act of 1834 the dollar's fine gold equivalent was revised to 23.2 grains; it was slightly adjusted to 23.22 grains (1.505 g) in 1837 (gold-silver ratio ~16). The same act also resolved the difficulty in minting the "standard silver" of 89.24% fineness by revising the dollar's alloy to 412.5 grains, 90% silver, still containing 371.25 grains fine silver. Gold was also revised to 90% fineness: 25.8 grains gross, 23.22 grains fine gold. Following

3286-551: The Comstock Lode in the 1870s. This was the so-called "Crime of '73". The Gold Standard Act of 1900 repealed the U.S. dollar's historic link to silver and defined it solely as 23.22 grains (1.505 g) of fine gold (or $ 20.67 per troy ounce of 480 grains). In 1933, gold coins were confiscated by Executive Order 6102 under Franklin D. Roosevelt , and in 1934 the standard was changed to $ 35 per troy ounce fine gold, or 13.71 grains (0.888 g) per dollar. After 1968

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3392-545: The Continental Congress resolved that the money unit of the United States, the dollar, would contain 375.64 grains of fine silver; on August 8, 1786, the Continental Congress continued that definition and further resolved that the money of account, corresponding with the division of coins, would proceed in a decimal ratio , with the sub-units being mills at 0.001 of a dollar, cents at 0.010 of

3498-526: The Dutch pioneered in modern-day New York in the 17th century the use and the counting of money in silver dollars in the form of German-Dutch reichsthalers and native Dutch leeuwendaalders ('lion dollars'), it was the ubiquitous Spanish American eight-real coin which became exclusively known as the dollar since the 18th century. The colloquialism buck(s) (much like the British quid for

3604-630: The First World War , and displaced the pound sterling as the world's primary reserve currency by the Bretton Woods Agreement towards the end of the Second World War . The dollar is the most widely used currency in international transactions , and a free-floating currency . It is also the official currency in several countries and the de facto currency in many others, with Federal Reserve Notes (and, in

3710-561: The dollar , U.S. dollar , American dollar , or colloquially buck ) is the official currency of the United States and several other countries . The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar , divided it into 100 cents , and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes , popularly called greenbacks due to their predominantly green color. The U.S. dollar

3816-552: The focus ring. This eliminated the distortion and allowed for natural close-up anamorphic photography. The Auto Panatar, released in 1958, was rapidly adopted, eventually making CinemaScope lenses obsolete. This innovation earned Panavision its first of 15 Academy Awards for technical achievement. Since 1954, Panavision had been working on a new widescreen process commissioned by MGM . The MGM camera system used 1930 Mitchell FC "Fox Grandeur" 70mm motion picture cameras, retooled for 65mm film and modern lenses. The resulting system used

3922-401: The pound sterling ) is often used to refer to dollars of various nations, including the U.S. dollar. This term, dating to the 18th century, may have originated with the colonial leather trade, or it may also have originated from a poker term. Greenback is another nickname, originally applied specifically to the 19th-century Demand Note dollars, which were printed black and green on

4028-508: The Arriflex 765. The gauge was not widely readopted, and only two major Hollywood films were shot with the new 65 mm Panavision process: Far and Away (1992) and Kenneth Branagh 's Hamlet (1996). In 1992, Panavision launched a project to develop a camera that involved rethinking every aspect of the company's existing 35 mm system. Nolan Murdock and Albert Mayer Sr. headed up the design team. The new Millennium camera, replacing

4134-529: The Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time", which is further specified by Section 331 of Title 31 of the U.S. Code. The sums of money reported in the "Statements" are currently expressed in U.S. dollars, thus the U.S. dollar may be described as the unit of account of the United States. "Dollar"

4240-582: The Federal Reserve estimated that the total amount of currency in circulation was approximately US$ 2.33 trillion . Article I , Section 8 of the U.S. Constitution provides that Congress has the power "[t]o coin money ." Laws implementing this power are currently codified in Title 31 of the U.S. Code , under Section 5112, which prescribes the forms in which the United States dollars should be issued. These coins are both designated in

4346-665: The Mitchell movement. The effort to develop a lighter, quieter camera with a reflex viewfinder led to the introduction of the Panavision Silent Reflex (PSR) in 1967. The camera could provide a shutter angle of up to 200 degrees. Many refinements were made to the PSR during the first few years after its introduction, and it soon became one of the most popular studio cameras in the world. Panavision also began manufacturing spherical lenses for 1.85:1 photography, garnering

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4452-456: The Nasdaq stock exchange. Saban ended up terminating its deal to acquire Panavision on March 1, 2019. Panavision 3D was a system for presenting 3-D film in a digital cinema . It was a passive stereoscopic 3D system that utilized spectral comb filters produced using thin-film optics technology. In such systems, the visible spectrum is broken into alternate bands of light that evenly span

4558-736: The Platinum as the company's flagship, was introduced in 1997. The Millennium XL came to the market in 1999 and was led by Al Mayer, Jr. It soon established itself as Panavision's new 35mm workhorse. The XL was the first product in Panavision history to win both an Academy Award and a Primetime Emmy Award within the first year of official release. The update to the XL, the XL2 was initially released in 2004.[26] . The first feature films to use these latter two systems were, respectively, The Perfect Storm (2000) and Just Like Heaven (2005). The XL series not only had

4664-948: The Spanish milled dollar, the Continental Congress and the Coinage Act prescribed a decimal system of units to go with the unit dollar, as follows: the mill , or one-thousandth of a dollar; the cent , or one-hundredth of a dollar; the dime , or one-tenth of a dollar; and the eagle , or ten dollars. The current relevance of these units: The Spanish peso or dollar was historically divided into eight reales (colloquially, bits ) – hence pieces of eight . Americans also learned counting in non-decimal bits of 12 + 1 ⁄ 2 cents before 1857 when Mexican bits were more frequently encountered than American cents; in fact this practice survived in New York Stock Exchange quotations until 2001. In 1854, Secretary of

4770-540: The Treasury James Guthrie proposed creating $ 100, $ 50, and $ 25 gold coins, to be referred to as a union , half union , and quarter union , respectively, thus implying a denomination of 1 Union = $ 100. However, no such coins were ever struck, and only patterns for the $ 50 half union exist. When currently issued in circulating form, denominations less than or equal to a dollar are emitted as U.S. coins , while denominations greater than or equal to

4876-854: The Treasury to borrow $ 50 million in the form of Demand Notes , which did not bear interest but could be redeemed on demand for precious metals. However, by December 1861, the Union government's supply of specie was outstripped by demand for redemption and they were forced to suspend redemption temporarily. In February 1862 Congress passed the Legal Tender Act of 1862 , issuing United States Notes , which were not redeemable on demand and bore no interest, but were legal tender , meaning that creditors had to accept them at face value for any payment except for public debts and import tariffs. However, silver and gold coins continued to be issued, resulting in

4982-450: The United States and to supervise its banking system, particularly in the aftermath of the Panic of 1907 . For most of the post-war period, the U.S. government has financed its own spending by borrowing heavily from the dollar-lubricated global capital markets, in debts denominated in its own currency and at minimal interest rates. This ability to borrow heavily without facing a significant balance of payments crisis has been described as

5088-625: The United States until the Coinage Act of 1857 . In particular, colonists' familiarity with the Spanish two- real quarter peso was the reason for issuing a quasi-decimal 25-cent quarter dollar coin rather than a 20-cent coin. For the relationship between the Spanish dollar and the individual state colonial currencies, see Connecticut pound , Delaware pound , Georgia pound , Maryland pound , Massachusetts pound , New Hampshire pound , New Jersey pound , New York pound , North Carolina pound , Pennsylvania pound , Rhode Island pound , South Carolina pound , and Virginia pound . On July 6, 1785,

5194-402: The United States was a significant recipient of wartime gold inflows. After the United States emerged as an even stronger global superpower during the Second World War , the Bretton Woods Agreement of 1944 established the U.S. dollar as the world's primary reserve currency and the only post-war currency linked to gold. Despite all links to gold being severed in 1971, the dollar continues to be

5300-399: The advent of television —TV kept moviegoers at home, reducing box office revenues. Film studios sought to lure audiences to theaters with attractions that television could not provide. These included a revival of color films , three-dimensional films , stereophonic sound , and widescreen movies. Cinerama was one of the first widescreen movie processes of the era. In its initial conception,

5406-521: The average Spanish dollar in circulation. The new U.S. silver dollar of 371.25 grains (24.057 g) therefore compared favorably and was received at par with the Spanish dollar for foreign payments, and after 1803 the United States Mint had to suspend making this coin out of its limited resources since it failed to stay in domestic circulation. It was only after Mexican independence in 1821 when their peso's fine silver content of 377.1 grains

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5512-500: The backside, created by Abraham Lincoln to finance the North for the Civil War . It is still used to refer to the U.S. dollar (but not to the dollars of other countries). The term greenback is also used by the financial press in other countries, such as Australia , New Zealand , South Africa , and India . Other well-known names of the dollar as a whole in denominations include greenmail , green , and dead presidents ,

5618-440: The buying and selling of goods. This allowed the value of things to remain fairly constant over time, except for the influx and outflux of gold and silver in the nation's economy. Though a Spanish dollar freshly minted after 1772 theoretically contained 417.7 grains of silver of fineness 130/144 (or 377.1 grains fine silver), reliable assays of the period in fact confirmed a fine silver content of 370.95 grains (24.037 g) for

5724-506: The company brought out Primo, a new line of lenses. Designed with a consistent color match between all the different focal-length instruments in the line, these were also the sharpest lenses yet manufactured by Panavision. Six years later, Oscars were awarded to the company and to three of its employees for their work on the Primo 3:1 zoom lens : Iain Neil for the optical design, Rick Gelbard for

5830-561: The company created a specialized lens for film laboratories—the Micro Panatar. When fitted to an optical printer , the lens could create "flat" (non-anamorphic) prints from anamorphic negatives. This allowed films to be distributed to theaters that did not have an anamorphic system installed. Before the Micro Panatar, to accomplish this dual-platform release strategy, studios would sometimes shoot films with one anamorphic and one spherical camera, allowing non-widescreen theaters to exhibit

5936-423: The company if they win. On September 13, 2018, Saban Capital Acquisition Corp. announced the purchase of Panavision and Sim Video International in a $ 622 million cash and stock deal. The proposed transaction was intended to create a comprehensive production and post-production entity. Saban Capital Acquisition Corp. intended to change its name to Panavision Holdings Inc. and was expected to continue to trade on

6042-433: The company to private status. A $ 345 million credit line from Bear Stearns and Credit Suisse was secured to finance the company's debt as well as to facilitate "global acquisitions." That same year, Mafco acquired Deluxe Entertainment Services Group. In March 2010, citing a drop in production and difficulty servicing significant debt as a result of the 1998 Mafco transaction, shareholder MacAndrews & Forbes agreed to

6148-531: The company to pursue private careers. That year, MGM's Camera 65 production of Mutiny on the Bounty went so far over budget that the studio liquidated assets to cover its costs. As a result of this liquidation, Panavision acquired MGM's camera equipment division, as well as the rights to the Camera 65 system it had developed for MGM; the technology was renamed Ultra Panavision . Only six more features were made with

6254-448: The company, which had stagnated. Optics testing was computerized and, in 1986, the new Platinum model camera was introduced. The next year—responding to a perceived demand for the resurrection of the 65 mm camera—development began on a new model. The company was sold to Lee International PLC for $ 100 million in 1987, but financing was overextended and ownership reverted to the investment firm Warburg Pincus two years later. In 1989,

6360-455: The cumbersome system required three cameras for shooting and three synchronized projectors to display a picture on one wide, curved screen. Along with the logistical and financial challenges of tripling equipment usage and cost, the process led to distracting vertical lines between the three projected images. Looking for a high-impact method of widescreen filmmaking that was cheaper, simpler, and less visually distracting, 20th Century Fox acquired

6466-414: The currency, a practice compared to the policies of European monarchs. The currency as we know it today did not get the faces they currently have until after the early 20th century; before that "heads" side of coinage used profile faces and striding, seated, and standing figures from Greek and Roman mythology and composite Native Americans. The last coins to be converted to profiles of historic Americans were

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6572-448: The decades since, only a handful of films have been shot in 65 mm. Albert Mayer led the next major project: the creation of a lightweight reflex camera adaptable to either handheld or studio conditions. After four years of development, the Panaflex debuted in 1972. A revolutionary camera that operated quietly, the Panaflex eliminated the need for a cumbersome sound blimp , and could synchronize handheld work. The Panaflex also included

6678-632: The depreciation of the newly printed notes through Gresham's law . In 1869, Supreme Court ruled in Hepburn v. Griswold that Congress could not require creditors to accept United States Notes, but overturned that ruling the next year in the Legal Tender Cases . In 1875, Congress passed the Specie Payment Resumption Act , requiring the Treasury to allow U.S. Notes to be redeemed for gold after January 1, 1879. Though

6784-668: The dime (1946), the half Dollar (1948), and the Dollar (1971). After the American Revolution , the Thirteen Colonies became independent . Freed from British monetary regulations, they each issued £sd paper money to pay for military expenses. The Continental Congress also began issuing "Continental Currency" denominated in Spanish dollars. For its value relative to states' currencies, see Early American currency . Continental currency depreciated badly during

6890-426: The discontinuation of all other types of notes (Gold Certificates in 1933, Silver Certificates in 1963, and United States Notes in 1971), U.S. dollar notes have since been issued exclusively as Federal Reserve Notes . The U.S. dollar first emerged as an important international reserve currency in the 1920s, displacing the British pound sterling as it emerged from the First World War relatively unscathed and since

6996-421: The dollar came under the gold standard de jure only after 1900, the bimetallic era was ended de facto when the Coinage Act of 1873 suspended the minting of the standard silver dollar of 412.5 Troy grains = 26.73 g; 0.859 ozt, the only fully legal tender coin that individuals could convert bullion into in unlimited (or Free silver ) quantities, and right at the onset of the silver rush from

7102-498: The entire visible spectrum. In June 2012, the Panavision 3D system was discontinued by DVPO Theatrical, who marketed it on behalf of Panavision, citing "challenging global economic and 3D market conditions". Robert Gottschalk Robert Gottschalk (March 12, 1918 – June 3, 1982) was an American camera technician, inventor, and co-founder of Panavision . Born to Gustav and Anna Gottschalk in Chicago, Illinois. His father

7208-481: The equipment's integration into existing crew equipment as a "digital cinema camera". This Panavision HD-900F , was used in the making of Lucasfilm 's Star Wars: Episode II – Attack of the Clones (2002), described as "the first digital major feature film". Panavision's next step in the evolution of digital cinema cameras also involved collaboration between Sony and Panavision; this time, Panavision participated in all

7314-461: The film. The cost savings of eliminating the second camera and making flat prints in post-production were enormous. Another innovation of the era secured Panavision's leading position: the Auto Panatar camera lens for 35 mm anamorphic productions. Early CinemaScope camera lenses were notoriously problematic in close-ups with an optical aberration that was commonly known as "the mumps":

7420-590: The following year, eventually renaming itself Warner Communications due to a financial scandal. Kinney/Warner's financial resources made possible a massive expansion in Panavision's inventory, as well as substantial leaps in research and development. During this period, the company's R&D department focused on retrofitting the industry standard 35 mm camera, the Mitchell BNC. The first cameras produced by Panavision were Mitchell cameras, and all standard 35mm cameras made by Panavision to this day are based on

7526-500: The growing demands of theaters showing CinemaScope films. At the time of Panavision's formation, Gottschalk owned a camera shop in Westwood Village, California, where many of his customers were cinematographers . A few years earlier, he and Moore—who worked with him in the camera shop—were experimenting with underwater photography ; Gottschalk became interested in the technology of anamorphic lenses, which allowed him to get

7632-467: The killing but claimed self-defense , alleging that he [Chuman] was trying to end the relationship against Gottschalk's wishes when the fight broke out. The LA coroner would later testify in pre-trial hearings that Gottschalk suffered at least five blows to the head and 19 stab wounds to the back and chest, while Chuman had only a bruised hand. Chuman was ordered to stand trial in November 1982, and

7738-449: The last coming in May 1986. All but three of his inventions are assigned to Panavision. On June 3, 1982 at 9 a.m., police received a phone call from Gottschalk's partner of 2 years, Laos "Ronnie" Chuman. Police would find Gottschalk's badly beaten body sprawled out in the master bedroom of his Bel-Air mansion. Chuman, after making conflicting statements during police questioning, admitted to

7844-397: The latter of which referring to the deceased presidents pictured on most bills. Dollars in general have also been known as bones (e.g. "twenty bones" = $ 20). The newer designs, with portraits displayed in the main body of the obverse (rather than in cameo insets), upon paper color-coded by denomination, are sometimes referred to as bigface notes or Monopoly money . Piastre

7950-474: The mechanical design, and Eric Dubberke for the lens's engineering. According to the AMPAS citation, "The high contrast and absence of flare, along with its ability to provide close focusing and to maintain constant image size while changing focus, make the Primo 3:1 Zoom Lens truly unique." In 1991, the company released its new 65 mm technology, System 65, though Arri had beaten it to market by two years with

8056-401: The modern-day World Bank Group , establishing the infrastructure for conducting international payments and accessing the global capital markets using the U.S. dollar. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . It was founded in 1913 under the Federal Reserve Act in order to furnish an elastic currency for

8162-464: The motion picture camera-rental arm of the Canadian rental house William F. White International (2005), the digital camera rental company Plus8Digital (2006), the international lighting and equipment company AFM and the camera company One8Six (2006), and the camera inventory of Joe Dunton & Company (2007). On July 28, 2006, Mafco announced it was acquiring the remaining Panavision stock and returning

8268-591: The notation "Process lenses by Panavision" next to the Super Technirama 70 logo. The first film to be presented in 70 mm anamorphic— Ben-Hur —was released by MGM in 1959 under the trade name MGM Camera 65 . Panavision also developed a non-anamorphic widescreen process called Super Panavision 70 , which was essentially identical to Todd-AO. Super Panavision made its screen debut in 1959 with The Big Fisherman , released by Disney 's Buena Vista division. By 1962, four of Panavision's founders had left

8374-517: The numerical amount, is used for the U.S. dollar (as well as for many other currencies). The sign was perhaps the result of a late 18th-century evolution of the scribal abbreviation p for the peso , the common name for the Spanish dollars that were in wide circulation in the New World from the 16th to the 19th centuries. The p and the s eventually came to be written over each other giving rise to $ . Another popular explanation

8480-561: The other. This theory, popularized by novelist Ayn Rand in Atlas Shrugged , does not consider the fact that the symbol was already in use before the formation of the United States. The U.S. dollar was introduced at par with the Spanish-American silver dollar (or Spanish peso , Spanish milled dollar , eight-real coin , piece-of-eight ). The latter was produced from the rich silver mine output of Spanish America ,

8586-482: The retooled Grandeur 65 mm film camera in conjunction with the APO Panatar lens, which was an integrated anamorphic lens (as opposed to a standard prime lens with an anamorphoser mounted on it). This created a 1.25x anamorphic squeeze factor. Movies using the process had an astounding potential aspect ratio of 2.76:1 when exhibited with 70 mm anamorphic projection prints. Introduced as MGM Camera 65 ,

8692-483: The rights to a process it branded CinemaScope : in this system, the film was shot with anamorphic lenses. The film was then exhibited with a complementary anamorphic lens on the projector that expanded the image, creating a projected aspect ratio (the ratio of the image's width to its height) twice that of the image area on the physical frame of film. By the time the first CinemaScope movie— The Robe (1953)—was announced for production, Gottschalk, Moore and Nicholson had

8798-487: The rise in the price of silver during the California Gold Rush and the disappearance of circulating silver coins, the Coinage Act of 1853 reduced the standard for silver coins less than $ 1 from 412.5 grains to 384 grains (24.9 g), 90% silver per 100 cents (slightly revised to 25.0 g, 90% silver in 1873). The Act also limited the free silver right of individuals to convert bullion into only one coin,

8904-572: The section as " legal tender " in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar, in contrast to the American Silver Eagle which is pure silver . Section 5112 also provides for the minting and issuance of other coins, which have values ranging from one cent ( U.S. Penny ) to 100 dollars. These other coins are more fully described in Coins of the United States dollar . Article I, Section 9 of

9010-552: The silver dollar at the rate of 1 silver dollar to 1000 continental dollars. This resulted in the clause "No state shall... make anything but gold and silver coin a tender in payment of debts" being written into the United States Constitution article 1, section 10 . From implementation of the 1792 Mint Act to the 1900 implementation of the gold standard , the dollar was on a bimetallic silver-and-gold standard, defined as either 371.25 grains (24.056 g) of fine silver or 24.75 grains of fine gold (gold-silver ratio 15). Subsequent to

9116-477: The silver dollar of 412.5 grains; smaller coins of lower standard can only be produced by the United States Mint using its own bullion. Summary and links to coins issued in the 19th century: In order to finance the War of 1812 , Congress authorized the issuance of Treasury Notes , interest-bearing short-term debt that could be used to pay public dues. While they were intended to serve as debt, they did function "to

9222-463: The stages of development. The aim was to create a system that could use the entire range of the company's 35 mm spherical lenses. This led to the 2004 introduction of the Genesis HD—a full bandwidth (4:4:4) HD-SDI camera with improved colorimetry - and sensitometry -related specs. Its Super 35 mm film –sized recording area made it focally compatible with regular 35 mm lenses, giving it

9328-436: The studio's first picture with Panavision lenses. To meet the extraordinary demand for Panavision projection lenses, Gottschalk had Bausch & Lomb CinemaScope lenses retrofitted into Panavision housings with a new astigmatic attachment, improving them greatly. This was revealed many years after Gottschalk's death; a lead designer from Bausch & Lomb, who had been involved with the original CinemaScope project, came to work as

9434-528: The system was used on just a few films, the first of which was Raintree County (1956). However, the film was released only in 35 mm anamorphic prints because the circuit of 70 mm theaters was booked with Around the World in Eighty Days (1956), shot with the competing, non-anamorphic Todd-AO system. In January 1959, the posters for the 70 mm release of Disney's Sleeping Beauty carried

9540-686: The system: It's a Mad, Mad, Mad, Mad World (1963), The Fall of the Roman Empire (1964), Battle of the Bulge (1965), The Greatest Story Ever Told (1965), The Hallelujah Trail (1965), and Khartoum (1966). The system was revived in 2015 for Quentin Tarantino's The Hateful Eight . As 1.25× anamorphosers for 70 mm projectors have become rare, most of the 70 mm prints of these films still in circulation are designed for projection with non-anamorphic, spherical lenses. The result

9646-414: The value of an eagle at 10 dollars, and the dollar at 1 ⁄ 10 eagle. It called for silver coins in denominations of 1, 1 ⁄ 2 , 1 ⁄ 4 , 1 ⁄ 10 , and 1 ⁄ 20 dollar, as well as gold coins in denominations of 1, 1 ⁄ 2 and 1 ⁄ 4 eagle. The value of gold or silver contained in the dollar was then converted into relative value in the economy for

9752-423: The war, giving rise to the famous phrase "not worth a continental". A primary problem was that monetary policy was not coordinated between Congress and the states, which continued to issue bills of credit. Additionally, neither Congress nor the governments of the several states had the will or the means to retire the bills from circulation through taxation or the sale of bonds. The currency was ultimately replaced by

9858-488: The world's foremost reserve currency for international trade to this day. The Bretton Woods Agreement of 1944 also defined the post-World War II monetary order and relations among modern-day independent states , by setting up a system of rules, institutions, and procedures to regulate the international monetary system . The agreement founded the International Monetary Fund and other institutions of

9964-674: Was a two-time Academy Award winner. His first was a Special Technical Oscar, awarded in 1960, for the development of the MGM Camera 65 wide-screen photographic system. He shared the Oscar with MGM executive Douglas Shearer and Panavision co-founder Richard Moore . He also received an Academy Award of Merit in 1978 for developing the Panaflex camera. Under Gottschalk's leadership and enginuity, Panavision received eleven Academy Scientific and Technical Awards from 1958 to 1978. The first

10070-482: Was an acquaintance of Mann's. The anamorphic lens design they selected was prismatic rather than the cylindrical design of the Bausch & Lomb CinemaScope lens. This design meant the anamorphic lens extension factor—how much the image is horizontally unsquished—could be manually shifted, useful for projectionists switching between non-anamorphic ("flat" or "spherical") trailers and an anamorphic feature . The result

10176-593: Was an architect who built several hotels in the city. Gustav's success left the family well-off financially and influenced Gottschalk's interest in film. In 1939, Gottschalk graduated with a degree in theater and arts from Carleton College in Minnesota . He then moved to California to open a camera shop with a long-term goal of becoming a filmmaker. He bought an interest in a camera shop in Westwood area of Los Angeles where he would later hire Richard Moore as

10282-461: Was bestowed at the 31st Academy Awards , for the development of the Auto Panatar anamorphic lens, with Gottschalk accepting on behalf of the company. From 1977 to his death, Gottschalk received 14 patents for his lenses and other camera equipment, including body-mounted support apparatuses, vibration dampeners, and camera harnesses. Six additional patents would be granted after his death,

10388-679: Was convicted of murder in July 1983. He was sentenced to 26 years to life in prison. During sentencing, Judge Laurence J. Rittenband of the Santa Monica Superior Court noted Gottschalk had "signed his own death warrant" after discovery was made that his will had been amended 3 weeks prior to his death, leaving 10% of his estate to Chuman. United States dollar This is an accepted version of this page The United States dollar ( symbol : $ ; currency code : USD ; also abbreviated US$ to distinguish it from other dollar-denominated currencies ; referred to as

10494-602: Was established, largely at the instigation of George Lucas , to serve his designs for the Star Wars prequels. The collaboration resulted in the Sony HDW-F900 CineAlta HDCAM high definition video camera. Sony produced the electronics and a stand-alone version of the camera; Panavision supplied custom-designed high definition lenses, trademarked Primo Digital, and retrofitted the camera body to incorporate standard film camera accessories, facilitating

10600-412: Was firmly upheld, which the U.S. later had to compete with using a heavier 378.0 grains (24.49 g) Trade dollar coin . The early currency of the United States did not exhibit faces of presidents, as is the custom now; although today, by law, only the portrait of a deceased individual may appear on United States currency. In fact, the newly formed government was against having portraits of leaders on

10706-465: Was later shortened to the German taler , a word that eventually found its way into many languages, including: tolar ( Czech , Slovak and Slovenian ); daler ( Danish and Swedish ); talar ( Polish ); dalar and daler ( Norwegian ); daler or daalder ( Dutch ); talari ( Ethiopian ); tallér ( Hungarian ); tallero ( Italian ); دولار ( Arabic ); and dollar ( English ). Though

10812-748: Was minted in Mexico City , Potosí (Bolivia), Lima (Peru), and elsewhere, and was in wide circulation throughout the Americas, Asia, and Europe from the 16th to the 19th centuries. The minting of machine-milled Spanish dollars since 1732 boosted its worldwide reputation as a trade coin and positioned it to be the model for the new currency of the United States . Even after the United States Mint commenced issuing coins in 1792, locally minted dollars and cents were less abundant in circulation than Spanish American pesos and reales ; hence Spanish, Mexican, and American dollars all remained legal tender in

10918-461: Was originally defined under a bimetallic standard of 371.25 grains (24.057 g) (0.7734375 troy ounces) fine silver or, from 1834 , 23.22 grains (1.505 g) fine gold, or $ 20.67 per troy ounce . The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its equivalence to gold was revised to $ 35 per troy ounce . In 1971 all links to gold were repealed. The U.S. dollar became an important international reserve currency after

11024-584: Was relatively unconstrained by retrofitting and manufacturing costs, as it was not directly competing on sales price. This allowed Panavision to build cameras to new standards of durability. The new business model required additional capital. To this end, the company was sold to Banner Productions in 1965, with Gottschalk remaining as president. Panavision would soon expand into markets beyond Hollywood , eventually including New York, Europe, Australia, Hong Kong, and Southeast Asia. Kinney National Company bought out Banner in 1968 and took over Warner Bros.-Seven Arts

11130-529: Was the anamorphozing system, designed by Wallin, used in the Panatar lens; the patent for the system was filed on August 11, 1954, and awarded five years later. Panavision's first product—the Super Panatar projection lens—debuted in March 1954. Priced at US$ 1,100 (equivalent to US$ 12,480.3 in 2023), it captured the market. The Super Panatar was a rectangular box that attached to the existing projection lens with

11236-662: Was the original French word for the U.S. dollar, used for example in the French text of the Louisiana Purchase . Though the U.S. dollar is called dollar in Modern French, the term piastre is still used among the speakers of Cajun French and New England French , as well as speakers in Haiti and other French-speaking Caribbean islands. Nicknames specific to denomination: The symbol $ , usually written before

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