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Ministry of Finances & Transportation

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1 Ministry of Finances & Transportation on Thu Jan 12, 2017 10:44 am

This is where we will deal with the Ministry of Finances & Transportation.

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2 Re: Ministry of Finances & Transportation on Thu Jan 12, 2017 2:26 pm

These are the recommended course of actions:
1) thebigbadwolfhub will assist KarbinCry in establishing the national Bank.
2) send surveyors to plan and survey inter-regional roads and infrastructure.
3) an estimate of the number of vehicles that survived the occupation.

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3 Re: Ministry of Finances & Transportation on Thu Jan 12, 2017 2:50 pm

This sounds pretty good to me

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4 Re: Ministry of Finances & Transportation on Thu Jan 12, 2017 5:35 pm

I say that we urge the senate to come up with a budget quickly so I know when it comes down to it not to overspend on materials we can't pay for

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5 Re: Ministry of Finances & Transportation on Fri Jan 13, 2017 12:02 am

As I am now in charge of Finances and Transportation, I would like to stress enough for the importance of surveyors joining me on planning the infrastructure of this glorious state, so who ever is interested in being a surveyor just ask me

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6 Re: Ministry of Finances & Transportation on Fri Jan 13, 2017 12:04 am

I would either put this in the public statements thread or ask gollvieg to put it in his newspaper. If you desire NPC surveyors that will do your bidding, ask Lore, if you desire actual players as surveyors, I would ask KarbinCry since he made the map.

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7 Re: Ministry of Finances & Transportation on Fri Jan 13, 2017 12:06 am

I'm going to try to start with Gollvieg first, I tried contacting Karbin today but he must be busy

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8 Re: Ministry of Finances & Transportation on Fri Jan 13, 2017 12:10 am

I need this bill to pass over so we can start working on a budget for Echain

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9 Re: Ministry of Finances & Transportation on Fri Jan 13, 2017 12:39 pm

As of today, for anyone who wants to become a surveyor, they will be given a token for their hard work, this token is a substitute for cash as long as their is no functioning economy, When the economy is established, the national bank will trade all the tokens you have received and trade it with cash. Thank you for your cooperation during these times, and another thing I would like to mention is that we are trying to push the senate for coming up for a budget of Echain, as this is going on me and Karbin will be discussing further actions upon the bank and the Ministry of Finances

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10 Re: Ministry of Finances & Transportation on Fri Jan 13, 2017 12:54 pm

Today I will be going on a trip to Plainsdale in search for certain people to be a surveyor for me but also discuss the financial issues in their area and the transportation system

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11 Re: Ministry of Finances & Transportation on Sun Jan 15, 2017 3:35 pm

The Establishment of Espada


Hereby the currency of Espada is formally established. First, let me start by citing parts of the Constitution pertaining to the national currency.

Constitution of August 29th wrote:The official currency of Echain shall be called Espada, and it will have the status of legal tender.
Only the National Bank has the right to mint and must always maintain direct control over it,
and no other entity in Echain can mint its own currency.

This means that there is no other institution with the power to mint, and all citizens of Echain have to accept Espada in exchange for goods and services.

The practical form of Espada is going to be notes in denomination of 100, 50, 20, 10 and 2 paper bills, and 1, .50, .20 and .10 metal coins.

It's value is based as a equivalent of 0,3 grams of pure silver. If anyone wishes, he may exchange his Espada above the amount of 1 million for a Equivalent Basket which shall be formed right of 1/4 silver and 3/4 crude rubber milk (based on market value of 3 grams of silver).

For the time being, the exchange will be possible after 1.1. 1948, and will be restricted to foreigners until 1.1. 1950. It will also be payable up to 6 months after requst will be made for such exchange, and the Bank can opt to instead exchange fully in silver.

The first Mint will be of the value of 350 million Espada, of which 100 million will be distributed through the National Budget, and 250 million will be left in the Bank's reserve until the Government disperses the original injection into the populace.

Buying of Espada is possible via equal exchange of silver or its value in IMF recognised anchor currency (currently that is the USD), and is accompanied by a mint in the value of silver or USD gained.

The Bank guarantees to hold sufficient reserves of silver and/or the Equivalent Basket to back 50% of the total Espada in circulation.

OOT: 1 ESP = 1 USD, roughly. If my silver calculations are wrong, please, tell me Rolling Eyes Rolling Eyes .



Last edited by KarbinCry on Sun Jan 15, 2017 3:37 pm; edited 1 time in total (Reason for editing : The silver calculations were wrong by decimal :roll:)

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12 Re: Ministry of Finances & Transportation on Sun Jan 15, 2017 4:37 pm

This seems good.
I would like to state some things:
1) would it be wise to print more Espadasubjects?
2) why not make the $1 Espada a bill instead of a coin?(decreases the need for metal)
3) How much is 3/4 crude rubber milk on liters?

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13 Re: Ministry of Finances & Transportation on Sun Jan 15, 2017 4:57 pm

This sounds pretty good to me, I feel like this currency will stick without any judgement, I feel like it should be a coin though, there is a good bit of metal and of course we could change it if any shortage was abroad, but I believe this is probably the best form of currency we got so far or does anyone else have an idea

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14 Re: Ministry of Finances & Transportation on Sun Jan 15, 2017 4:58 pm

Note: As long as there is no economy or currency, I've been trying to spread the use of a token system until the senate or whatever does something, trade tokens for currency, 10 tokens-1Espada, 20 tokens-2Espada

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15 Re: Ministry of Finances & Transportation on Sun Jan 15, 2017 5:10 pm

President Grifenknight wrote:This seems good.
I would like to state some things:
1)  would it be wise to print more Espadasubjects?
2)  why not make the $1 Espada a bill instead of a coin?(decreases the need for metal)
3) How much is 3/4 crude rubber milk on liters?

1) The Bank must have the option to mint more. Therefore, while we could comfortably mint more, we will reserve that for the future, so as to be able to take action depending on how the economy develops.

2) Because bills have lower life expectancy than coins, and 1 ESP has such value that it will circulate fast enough to require durability.

3) OOC: I have no idea, but the ratios are based on value. So, it is basically 3/4 grams of silver and, say, 2 liters of rubber milk if 1 liter = 1 gram of silver.

(MoFT)thebigbadwolfhub wrote:Note: As long as there is no economy or currency, I've been trying to spread the use of a token system until the senate or whatever does something, trade tokens for currency, 10 tokens-1Espada, 20 tokens-2Espada

Unfortunately, as it stands in the Constitution, the Bank cannot make such exchange. It can, however, be done through the Budget.

Also, if the Provisional Measures would not affect the matter, your action would be borderline unconstitutional, as the Government doesn't have the power of Mint; only the Bank does.

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16 Re: Ministry of Finances & Transportation on Sun Jan 15, 2017 5:12 pm

(MoFT)thebigbadwolfhub wrote:This sounds pretty good to me, I feel like this currency will stick without any judgement, I feel like it should be a coin though, there is a good bit of metal and of course we could change it if any shortage was abroad, but I believe this is probably the best form of currency we got so far or does anyone else have an idea

Bill's are necessary if we wish to have a treasury or economy. We have the natrualiza resources, but none of the facilities required have been established for us to harvest and process it. Meanwhile, bills would be easy to make with our nonexistent infrastructure and economy. Bills would, also, be easier to exchange.

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17 Re: Ministry of Finances & Transportation on Tue Jan 17, 2017 10:20 am

By The President(being approved and presented of course) I, Minister of Finances and Transportation is making a bill involving the limit of the amount of money each branch of government can use, If you have any suggestions on the bill I'm creating just message me and I'll be sure to add it in if its reasonable of course. This bill will be presented towards the senate the end of the day tomorrow, thank you for your cooperation-BigBadWolfHub



Last edited by (MoFT)thebigbadwolfhub on Tue Jan 17, 2017 10:32 am; edited 1 time in total

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18 Re: Ministry of Finances & Transportation on Tue Jan 17, 2017 10:30 am

As a private citizen, I'd like to remind the Minister that he does not have the right to propose Bills to the Senate by himself, but only through the President.

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19 Re: Ministry of Finances & Transportation on Tue Jan 17, 2017 10:37 am

He said it will be presented by the Senate, not necessarily by him.

OOC: God dammit Karbin...

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20 Re: Ministry of Finances & Transportation on Wed Jan 18, 2017 1:42 am

I, Minister of Finances and Transportation will be making another trip to Plainsdale for a big portion of time tomorrow, if you wish to ask me any questions I'll try to make sure I'll answer them before I leave for my trip,and also the other thing is that I have scraped the idea of the limit spending bill just to let you people know-BigBadWolfHub

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21 Re: Ministry of Finances & Transportation on Fri Jan 20, 2017 10:02 am

As of tonight fellow people of Echain, I will be in my office all weekend due to my birthday, I will try to get in touch once in awhile, so if anyone has anything to say to me before I lock myself in my office all weekend, say it now.

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22 Re: Ministry of Finances & Transportation on Fri Jan 20, 2017 10:14 am

What are you actually doing in Plainsdale, and how far along are you?

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23 Re: Ministry of Finances & Transportation on Fri Jan 20, 2017 10:25 am

I......I...I'm picking up bottles of liquor to my headquarters and saving it all to myself, I know I dont have an alcohol addiction, trust me I know when 1 is enough, but not only im doing that in Plainsdale but I'm visiting my old sick grandmother who stays there at the local retirement home, she's very ill and i will be in such sadness if I know she is not getting the treatment she needs, thats why I visit there a lot of times, its sometimes business but sometimes you just need a break from everything. Well I will be going to Plainsdale this afternoon for some liquor for my birthday in my office.

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24 Re: Ministry of Finances & Transportation on Fri Jan 20, 2017 10:30 am

Eh, I won't blame you.

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25 Re: Ministry of Finances & Transportation on Mon Jan 23, 2017 10:58 am

I am back from my weekend office birthday party thing, I have noticed that much has happen so far, so Im back at my job and ready to get things back on the road.

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