Law:The Newer Numismatic Naming Act
36RZ2 — The Newer Numismatic Naming Act
WHEREAS the Kingdom long ago created by legislation a unit of currency, with which nothing was ever done, and
WHEREAS the institution of the Royal Bank & Post was clarified by The Royal Household Cleaning Act (35RZ24), which rendered moot its initial legislative charter (25RZ35), in which the currency of the realm was specified, and
WHEREAS there is renewed interest in establishing for the Kingdom an economic system, whether this system be describable as sound, unsound, or even ridiculous, and
WHEREAS there is sentiment that it may be best to do this from scratch, now
THEREFORE be it enacted by the Ziu that
- Royal Bank & Post Rechartered. The Royal Bank and Post Charter Act (25RZ35) is hereby repealed. The Royal Bank & Post survives and is chartered and charged as described herein.
- Cabinet Membership. The Chairman of the Royal Bank & Post shall be appointed by the Seneschal at his pleasure, shall sit in the Cabinet, and shall be accorded the title Minister of Finance.
- Base Unit of Currency. The base unit of currency for the Kingdom of Talossa is hereby established and styled the "BENT." The plural of the bent is "BENCE." Convenient shortenings such as "tubbence" and "thrubbence" shall be understood and recognised by the government, and may appear on coinage and currency.
- Second Unit of Currency. A second unit of currency, which shall have the fixed denomination of sixty (60) bence, is hereby established and styled the "LOUIS," which shall also be officially recognised by the shortened name "LOU." The plural of the lou is "LOUISE." Convenient colloqualisms for the denominations of louise are encouraged, specifically "Brock" for a single lou, "Costello" for five louise, "Ferrigno" for ten louise, "Rawls" for twenty louise, and so forth.
- Creation and Issuance of Currency. The Royal Bank & Post is exclusively authorised to design, cause to be created, issue, and distribute coinage or other currency in any denomination of whole bence. The Royal Bank & Post is authorised to print or imprint the denomination of any coinage or currency with its value in louise, rather than in bence, as it sees fit.
- Provisions Against Counterfeit Currency. The Royal Bank & Post shall take care to issue coinage and currency that is difficult to counterfeit, and shall report any suspected instances of counterfeiting to the Ministry of Justice for investigation and prosecution. Official terminology is hereby established that counterfeit currency denominated in louise are to be called "Alcindors" and counterfeit currency demoninated in bence are to be called "Afflecks" or "Hills."
- Basis Commodity of Currency. The currency of the Kingdom of Talossa shall be based on a reserve of beer, which has been, and continues to be, thankfully and conveniently distributed worldwide.
- Distribution and Redemption of Currency. Talossan currency shall be distributed in exchange for foreign currency or beer, and may be redeemed for the same with the Royal Bank & Post according to policies of exchange to be established by that body.
- Consular Exchange of Currency. Consulates of the Kindom of Talossa may be established at any establishment applying to become a consulate and wishing to exchange either Talossan or local currency for quantities of the said reserve of beer. Such application shall be made to the Ministry of Foreign Affairs, which shall consult with the Royal Bank & Post before establishing any new consulate. The Kingdom shall provide a plaque or other sign to the establishment, which shall identify it as a consulate of the Kingdom of Talossa.
- Creation and Sale of Postal Parapharnalia. The Royal Bank & Post may design, create, issue, and sell postage items, such as stamps and imprinted envelopes, in any demonination, and sell the same at a cost exceeding that expended for their creation. Postal items may be purchased by private individuals or organizations (such as those established to provide postal delivery services) and may be re-sold to the public in exchange for postal delivery or other services. The Royal Bank & Post is empowered to print demoninations on postal items which are above the original sale value of postal items charged to a private organization purchasing the same, so to ease any resale of these items by the private organization to the general public, by providing on the face of the item the intended retail purchase price.
- Redemption of Postal Items Forbidden. Postal items may never be redeemed to the Royal Bank & Post for their face value or any other value.
- Creation and Sale of Commemorative Items. The Royal Bank & Post shall design, create, issue, and sell any commemorative items of the Kingdom of Talossa. Such items may be purchased by the general public at a cost at or above that expended for their manufacture, such valuation to be determined by the Royal Bank & Post.
- Disposition of Profit. All profit in the form of foreign currency which is realized from the sale of currency, postal items, and commemoratives shall be duly tendered by the Royal Bank & Post to the Burgermeister of Inland Revenue for deposit and safe-keeping within the Royal Treasury. Any profit realised by the Royal Bank & Post in the form of beer shall be disposed of howsoever the Royal Bank & Post sees fit.
- Economic Policy and Investment of Royal Funds. The Royal Bank & Post is responsible for determining and enacting economic policy of the Kingdom of Talossa. Funds kept in the Royal Treasury shall be made available by the Burgermeister of Inland Revenue to the Royal Bank & Post for the purpose of making foreign investments calculated to wisely augment the value of the said Treasury. The Minister of Finance shall be responsible to the Prime Minister and the nation for the policies implemented.
- Royal Audit. The Burgermeister of Inland Revenue shall be permitted, as a Servant of His Majesty's Household, to audit the reported financial condition of His Majesty's investments at any time.
- Governmental Expenses. Except when forbidden or restricted by legislation, the government of the day is empowered to requisition funds from the Royal Treasury to provide for the operation of the Royal Bank & Post, the other Cabinet Ministries, and the Prime Ministry. The amount requisitioned for the operation of each such ministry shall not in any way or for any reason increase during such time as the sitting government continues in office following having lost the confidence of the Cosâ, except it be by royal fiat and to provide for the necessary defence and preservation of the realm.
- Assessment of Bouillon. The Royal Bank & Post shall annually appoint, from its officers and staff or other volunteer Talossan citizens, the membership of the Royal Treasury Reserve Board. This board shall be charged with regularly evaluating bouillon and providing assessments to the Chairman of the Royal Bank & Post. In addition to random samplings of bouillon as determined by the board, the duties of the board shall include attending such events as The World Beer Cup and other beer festivals.
- Banking Operations. The Royal Bank & Post is empowered to act as a banking facility to serve citizens of the Kingdom of Talossa. The deposit and lending policies of the Bank shall be freely established by the Royal Bank & Post but may be modified by law by action of the Ziu. The safety of all funds deposited with the Royal Bank & Post shall be guaranteed by the government.
Uréu q'estadra så:
Barôn Tepistà (Senator, Cézembre)