Difference between revisions of "Tallent"

Revision as of 05:55, 30 January 2007

The Tallent is a form of currency used primarily on the Shaharazia continent of Wysteria. It is legal tender in the Commonwealth of South Nashville, the Commonwealth of Cartesian Praetoria, and the People's Republic of Hecktoria for all debts, public and private.

It is issued by the Central Bank of South Nashville.

History

Legend

The tallent is believed to have its origins on the island nation of Aya. The legend says that following the death of the Emperor of Aya, his estate was divided evenly between his twin sons. Among the most prized of his possessions was the Tally Diam, a 50-carat diamond. Finding it more difficult than anticipated to cut, the brothers made an agreement that they each owned half the diamond. One of the brothers used his newfound wealth to establish a village and home for his family; while the other brother, a notorious spendthrift, traveled the island and squandered much of his. After exhausting much of his wealth, the spendthrift-brother began issuing promisory notes for pieces of the Tally Diam, telling recipients they could redeem their share of the diamond at his brother's village. Soon, people from all across the island were coming to the brother's village with these 'Tally-Lents' to claim their share of the diamond.

The village-brother was soon faced with citizens demanding their part of the Tally Diam. Refusing at first, he soon realized he was facing potential revolution. Thus, he declared that he while he could not break up the diamond; he would accept the Tally-Lents as payment for taxes. This was an acceptable offer to the people and soon these 'Tallents' were being used across the island.

Then disaster struck. The village-brother, while traveling Wysteria with the Tally Diam, was lost at sea. Panic struck the island as the Tallents were feared to be worthless. However, the new Emperess declared that the Kingdom of Aya would continue to accept the tallents and that they would retain their full value.

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An early tallent coin

Early History

Archaeological evidence shows that tallent coins began being used in the coastal towns on the continents touching the Tallent Sea about ten millennia ago. Early tallent coins have also been found as far away as Finnsport and in the Wysterian Territories. The most common coins were made of silver, though some gold coins existed.

As Brentwood developed as a merchant town, the local government began to take steps to help expedite commerce. They began by accepting tallents as payment for services, and using them to finance construction projects. Tallents soon replaced common barter as the primary medium of exchange in Brentwood.

Brentwood settlers began to explore the rest of the continent, bringing with them their tallents. Soon the tallent had taken hold as the primary medium of exchange in Nashville and South Nashville Station and the city governments began issuing tallent notes with values equivalent to corresponding weights of tallent coins.

Following the ratification of the Constitution of South Nashville, the Central Bank of South Nashville became the sole issuer of tallent notes and tallents became the national currency. The Treasury Department reissued a national tallent note, exchanging them at a 1:1 ratio with the city tallents and maintaining convertability to coinage.

Following the Second Banking Panic, the Central Bank of South Nashville suspended convertability on tallents and moved to a floating exchange rate regime in order to soften the impacts of the panic.

Recent History

Following the Common War in Cartesian Praetoria, refugees began returning to their homes from South Nashville. Governor Jackson and Chancellor Chamblee also agreed to eliminate tariffs between the two nations. Consequently, a hyperinflating Cartesian Praetoria economy experienced a massive influx of tallents that drove out the unstable Cartesian Prateoria currencies. The resulting full economic and monetary union has remained ever since.