The South Pacific
[DRAFT] Common Currency Act - Printable Version

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[DRAFT] Common Currency Act - Eflad - 08-02-2021

Common Currency Act
An Act creating a common currency in The South Pacific.
1. Introduction of a common currency

(1) The region of South Pacific shall introduce a common currency which can be used by nations that have fulfilled the conditions.
  1. The Conditions:
  1. Economy value over 45 (forty-five) and stable for the past month;
  2. Employment rate over 65 (sixty-five) and stable for the past month;
  3.  Average Disposable Income at least 20 000 (twenty thousand) Standard Monetary Units
(2) Every currency will be exchanged by the rate of 1 : 1
(3) The currency will consist of:
       a. 1 Sop (= 1100 of 1 Wes);
       b. 5 Sop (= 5100 of 1 Wes);
       c. 10 Sop (= 110 of 1 Wes);
       d. 20 Sop (= 210 of 1 Wes);
       e. 50 Sop (= 12  of 1 Wes);
       f. 1 Wes;
       g. 2 Wes;
       h. 5 Wes;
       i. 10 Wes;
       j. 20 Wes;
       k. 50 Wes;
       l. 100 Wes;
       m. 200 Wes;
       n. 500 Wes;
       o. 1000 Wes.
2. Name and design
(1) The name of the currency will be determined by a vote in a regional poll conducted by the Office of the Prime Minister and the Ministry of Engagement. The poll shall consist of four possibilities, two for units lower than 1/2 of 1 Wes, including 1/2 of 1 Wes, and for units higher of 1 Wes, including 1 Wes. Units 1 and higher shall all have the same name, and the units of 1 and under shall have a consistent name which is different to the name of units of 1 and over, and shall last for 5 days. Until a regional poll is conducted, Sop and Wes shall be the name of the currency.
(2) The shape shall be a round coin for the values from, and including, 1 Sop to 5 Wes with a radius listed in figure 1 and for values over 5 Wes of the base unit shall be a rectangular bank note having the dimensions of 16 centimetres by 8 centimetres.
(3) The design of the front and back page shall be decided by a regional poll conducted by the Office of the Prime Minister and the Ministry of Engagement. It shall consist of 30 possibilities, with two designs per unit. On the coins, the front side must consist of the value (1, 2, 5, 10...) and the coat of arms of The South Pacific. The back side is free to design, yet must remain simple. The bank notes shall have identical sides, where the value and the motif are presented.
Value   Radius
1 Sop     15 mm/ 0,591 in
5 Sop     20 mm/ 0,787 in
10 Sop   22 mm/ 0,866 in
20 Sop   23 mm/ 0,906 in
50 Sop   25 mm/ 0,984 in
1 Wes     30 mm/ 1,181 in
2 Wes     35 mm/ 1,378 in
5 Wes     37,5 mm/ 1,476 in
Figure 1: radius of coins from 1 Sop to 5 Wes

RE: [DRAFT] Common Currency Act - Arvan Irawer - 08-02-2021

While I am not opposed to the idea of a common currency, how would this benefit TSP?

RE: [DRAFT] Common Currency Act - Eflad - 08-02-2021

(08-02-2021, 08:52 AM)Arvan Irawer Wrote: While I am not opposed to the idea of a common currency, how would this benefit TSP?

For one it would fortify the region as not only a cultural salad bowl, but also an economic union. It would also make The South Pacific more powerful on the world stage by creating an economic powerhouse. 
The implementation would also contribute to the integration of the nations between each other. It would help to show that cultural *and* economic values are both very important. 
It could also help with roleplay.

What I have forgotten to write in is an oversight comitee which would oversee the applications.

RE: [DRAFT] Common Currency Act - Belschaft - 08-02-2021

This is an RP proposal and thus belongs in Treasure Island, not the Assembly.

RE: [DRAFT] Common Currency Act - Eflad - 08-04-2021

(08-02-2021, 09:59 AM)Belschaft Wrote: This is an RP proposal and thus belongs in Treasure Island, not the Assembly.
Why so?

RE: [DRAFT] Common Currency Act - Belschaft - 08-04-2021

(08-04-2021, 05:31 AM)ConfedZaku Wrote:
(08-02-2021, 09:59 AM)Belschaft Wrote: This is an RP proposal and thus belongs in Treasure Island, not the Assembly.
Why so?

The Assembly handles matters relating to how we govern the region (Gameplay) - how we decide who the Delegate is, who gets to be Regional Officers, what the process is for resolving disputes through the High Court, etc - whilst matters relating to our nations themselves and how players ‘run’ them are considered Roleplay which is dealt with separately.

What is what can be somewhat confusing for newer players, and there are grey areas between Gameplay & Roleplay, but this is 100% the later and belongs in the Main Canon area of Treasure Island, which is where some players Roleplay their Nations.

RE: [DRAFT] Common Currency Act - Griffindor - 08-04-2021

(08-04-2021, 08:23 AM)Belschaft Wrote:
(08-04-2021, 05:31 AM)ConfedZaku Wrote:
(08-02-2021, 09:59 AM)Belschaft Wrote: -snip-

The Assembly handles matters relating to how we govern the region (Gameplay) - how we decide who the Delegate is, who gets to be Regional Officers, what the process is for resolving disputes through the High Court, etc - whilst matters relating to our nations themselves and how players ‘run’ them are considered Roleplay which is dealt with separately.

What is what can be somewhat confusing for newer players, and there are grey areas between Gameplay & Roleplay, but this is 100% the later and belongs in the Main Canon area of Treasure Island, which is where some players Roleplay their Nations.
I am inclined to agree with this take. The only reason I can see this remaining here is if the region itself saw the value in creating a monetary system tied to the government and its actions. This would require a significant majority of the region (or at the very least the Assembly) to support the creation of such a system. It would also require a team of dedicated (and trusted) people who would handle the software for managing and maintaining the monetary system. Keeping activity and use of the monetary system consistent would also be critical if this is to actually be a law of the region and not roleplay.

I personally would love to see something like this occur, but I am skeptical of the overall regional desire for this, and the ability of this to succeed in the long run.

RE: [DRAFT] Common Currency Act - Eflad - 08-06-2021

Griffindor and Belschaft, thank you for your answers, it helped me to understand the issue. 
Hereby, I then retreat this act.