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Post by Nathan on Jun 17, 2009 16:38:26 GMT -6
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.
Signed
HSRM Nathan
Bovic Emperor of Natopia
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.
Signed
HSRM Nathan
Bovic Emperor of Natopia