Shireroth

Small Commonwealth Unified Currency Treaty

1. Any nation who has signed the General Membership Treaty may sign this Small Commonwealth Unified Currency Treaty, provided they gain approval from existing signatories.

2. An applicant to this treaty shall be considered by existing signatories. If, within a week, no existing signatory objects, the new nation shall be able to sign this treaty and issued starting currency as explained below.

3. All signatories to this treaty have a unified currency, and share a unified bank. Any participant in the economy of a signatory nation may make economic transactions with participants of any other signatory nations without restrictions, fees or tariffs.

4. Each signatory nations reserves the right to refer to the currency by whatever name they want. This does not make their currency different from the unified currency, and all the names are assumed to have a 1:1 exchange ratio.

5. Participants within this unified currency shall register their accounts in a particular signatory nation, or region thereof. By registering with that nation, participants' accounts are subject to any economic regulation or taxation of that nation, but not of any other nation.

6. The initial-initial distribution shall be as follows: Shireroth shall retain all its current currency. Gralus shall retain all its current currency.

7. After the initial-initial distribution, no currency can be created or destroyed by the signatory nations. However, each new signatory nation is entitled to create currency for an initial distribution among citizens of that country, under the following conditions:
a. They shall count how many citizens they have who do not currently hold accounts via any existing signatory nation.
b. They shall be entitled to 10 000 units of currency per citizen counted in this manner, to be distributed as they see fit.

8. There shall be an administrator of the bank, with the power to change the region of accounts as required; to create currency for new signatory nations; and to enforce taxation.

9. This administrator shall be elected by the signatory nations. At any time the administrator may be removed by a 2/3 vote of no confidence in the administrator, at which time a new administrator shall be elected by the signatory nations.

10. Should a signatory nation withdraw from this treaty, due to death or otherwise, all currency held in accounts registered in that nation shall be removed.

Yardistan votes NAY. Shireroth needs an independent currency, we are the best. We should not have to share.

Well Brookshire votes YEA. A unified currency would promote trade. Use logic.

Kildare votes YEA. We're not losing the Erb; and if we can convince enough foreigners to spend their money here, that'll be erb too, and we'll have it all.

(And then we will all wear top hats and monocles. And bathe in money. Whee!)

Elwynn votes YEA. We like monocles too.

Straylight NAY. See reason at http://shireroth.kuroshiro.net/forum/vi ... 14&t=10893 - in short, I believe I have a better idea. It's hard to tell which would get us a somewhat working economy first, this proposal or mine (since as far as I know Erik hasn't set up his nation-conscious version of ShireBank yet, and I don't yet know the exact time when I'll have my copy of RipplePay hosted and set up).

Anybody mind if we bend the procedures a little and take some more time to handle this bill? It was posted soon after I went on a multi-day LOA and I didn't get to put in my arguments before now...

I hereby veto this bill. If someone is really fussy about it, I can put the veto in a decree. This is to allow the proper discussion concerning Ari's alternative. If the debate regarding his proposal results in that we won't do it, I will decree this as it has passed the Landsraad. So don't worry about that.

I will allow for an extension of debate if there is no opposition from the other dukes.

If and when there isn't, I will withdraw my veto.

No objections from me.

Three days should be enough time to object. I withdraw my veto of this bill so that the debate can be extended.

I don't know what to do with this bill. Technically it is passed... Only a Kaiserial veto or decree (or me simply not officially passing it) is stopping it from being enforced.

I am inclined to pass it as I am bound to uphold the procedures of the Landsraad. The Landsraad can always overturn it or the Kaiseress can overturn it herself.

I only lifted my veto to extend the debate. Please sit on it for a while longer. We need to decide which bank system to use before this is passed.

I withdraw my veto unconditionally. You may now declare this bill passed.

this bill passes 3-2