Difference between revisions of "Law:The Talossan Monetary Policy Reform Act (+ Coin Design)"

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(Created page with "WHEREAS Talossa wants coins as a symbol of the nation, and WHEREAS the laws of the United States prohibit the making, uttering, or passing any coins of any metal or alloys of...")
 
 
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Latest revision as of 16:17, 6 May 2014

WHEREAS Talossa wants coins as a symbol of the nation, and

WHEREAS the laws of the United States prohibit the making, uttering, or passing any coins of any metal or alloys of metals, even of original design, intended for use as current money, and

WHEREAS the Talossan responsible for producing the coins is resident in the United States and would like to be in compliance with that law, now

THEREFORE we, the Ziu, hereby enact the following replacements for subsections 1 through 7 of Title C, Section 7 of the Lexhatx:

7.1. Base Unit of Account. The base unit of account 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 collectable tokens (colloquially "coinage", though they shall not constitute current money). This unit of account is fixed to $0.025 in the currency of the United States of America.

7.2. Second Unit of Account. A second unit of account, 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.

7.2.1. The commonly-used symbols ℓ and ¤ shall be officially adopted for the louis and bent, respectively, and these symbols shall be used in accordance with common practice: ¤ to be used as a separator of the two denominations, with louise on the left of the symbol and bence on the right; ℓ may also be used to indicate amounts in whole louise, by placing the symbol to the left of the amount.

7.3. Creation and Issuance of Collectable Tokens. The Royal Bank & Post is exclusively authorised to design, cause to be created, issue, and distribute collectable tokens (colloquially "coinage", though they shall not constitute current money) in any denomination of whole bence. The Royal Bank & Post is authorised to imprint the denomination of any coinage with its price in louise, rather than in bence, as it sees fit.

7.3.1 Current Token Design. The first issue of Talossan collectable tokens ("coins") shall have, on the obverse, the Chinese character "ben" upon a shield, with a crown above the shield; above the crown shall be the curved inscription "REGIPÄTS TALOSSÁN", and below the shield shall be the curved inscription of the year of issue (both the Common Era in Arabic numerals and the year of the Kingdom of Talossa in Roman numerals). On the reverse shall be an image of a dandelion, a large "ℓ1", and the inscription "VIENS LUÏÇ".

7.4. Talossan Currency. The currency of the Kingdom of Talossa shall be beer, which has been, and continues to be, thankfully and conveniently distributed worldwide.

7.5 Provisions Against Counterfeit Currency. The Royal Bank & Post shall take care to be clear that non-alcoholic "beer" is, in fact, not beer at all, and thus is not currency. 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."

7.6. Distribution and Redemption of Currency. Talossan currency shall be distributed in exchange for foreign currency, and may be redeemed for the same with the Royal Bank & Post according to policies of exchange to be established by that body.

7.7. 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 local currency for quantities of Talossan currency. 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.

- Bill authored by the Minister of Finance

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