Post by King Adam Aberdeen I on May 19, 2008 18:23:48 GMT -6
Monetary System
** The following explanation of the Griffon Monetary System is based upon the Vienna Accords of 1328; regulated by a central organization where it can be used everywhere without offense. The basic unit of currency is the Griffon. Coins and paper bills are minted with the notable winged gryphon set above it.
Skye Money | Description | Worth $$ |
[tr][td]Gold Griffon: (Crown Gold)[/td]
[td]2 ounce gold coin[/td]
[td]worth approximately $1,000.00[/td][/tr]
[tr][td]Griffon Gold Crown: (1/2 Crown Gold) [/td]
[td]1 ounce gold coin[/td]
[td]worth approximately $500.00[/td][/tr]
[tr][td]Gold Quarter Crown: (1/4 Crown Gold)[/td]
[td]1/2 ounce gold coin[/td]
[td]worth approximately $250.00[/td][/tr]
[tr][td]Noble Griffon:(Noble)[/td]
[td]'G' Paper money[/td]
[td]worth approximately $500.00[/td][/tr]
[tr][td]Crown Griffon:(Crown)[/td]
[td]'G' Paper money[/td]
[td]worth approximately $250.00[/td][/tr]
[tr][td]Griffon:[/td]
[td]'G' Paper money[/td]
[td]worth approximately $1.00[/td][/tr]
[tr][td]Silver Griffon:[/td]
[td]1 ounce silver coin[/td]
[td]worth approximately $1.00[/td][/tr]
[tr][td]Half-Griffon:[/td]
[td]1 ounce brass coin[/td]
[td]worth approximately $0.50[/td][/tr]
[tr][td]Quarter-Griffon:[/td]
[td]1/2 ounce brass coin[/td]
[td]worth approximately $0.25[/td][/tr]
[tr][td]Copper:[/td]
[td]1/2 ounce copper coin[/td]
[td]worth approximately $0.01[/td][/tr]
[tr][td]50 coppers = Half-Griffon:[/td]
[/tr][/table]
**For ease of use, all currency will be compared to US dollars. However, the comparison in no way reflects the actual value of gold or silver. **
Monetary History of Skye
Birth of the Griffon Monetary System
It was the economic crisis of the 1300s that led to the first plans for a single currency. The system of fixed exchange rates pegged to the English Pound was abandoned. European leaders agreed to create a "currency snake", tying together European currencies. But the system immediately came under pressure, causing problems for some of the weaker European economies.
Vienna Treaty
In March 1328, 39 members of the from 13 monarchies on the European continent, meeting in the city of Vienna, agreed to set up a single currency as part of a drive towards economic surety. A Vienna Central Bank was established to monitor the establishment of the single currency with 13 members from the associated monarchies. (Skye, France, Italia, Spain, England, Denmark, Norway, Portugal, Hungary, Lithuania, Austria, Bohemia, and the Papal States)
Fears that countries might reject the Vienna treaty led currency speculators to target the weaker currencies. In April 1328, Skye, France, Spain, and Italia forced the English and Denmark to devalue their currency relieving the tension by the English King. Only the Isles of Skye’s Griffon was successfully defended against the English and Danes.
The Gryphon becomes common cash currency.
Out of 4 recommended currencies, only one was voted unanimously by all members. The Griffon was launched on 1 May 1328 as a national currency used by banks, foreign exchangers, and shipping companies. The new Skye National Bank set the pace for the common currency all desired. The arrival of the Griffon in coin and paper as cash currency would soon foster closer integration and greater price competition within the world trade zones.