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I suspect it's because monarchial periods tend to be long enough for changes to occur, whereas if the US were to use presidential periods they'd be limited to durations of eight years at most.
I'm not sure the American media does use the British monarchial time periods all that often. I can't say I've heard reference to the Edwardian period in the US. Victorian America has a specific meaning, referring to a time when the US was stable and prosperous and started to mimic a lot of Victorian British customs.
UK monarchy remains the surrogate monarchy of the USA.
Quote from: Geezer on 04/06/2010 02:49:57UK monarchy remains the surrogate monarchy of the USA.Y'all can have Fergie if you want ... http://www.guardian.co.uk/uk/2010/jun/02/sarah-ferguson-on-oprah-duchess-debts-tv