Currency Values Announcement

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Currency Values Announcement

Postby connick » Tue Jul 25, 2017 7:33 pm

(An official announcement is posted on the message board.)

Citizens of Derrickham,

On the 4th of Fyrunn an announcement was made by a "Master Silver Serpent of the United Merchants of Ashriya" with regard to the values ascribed to gemstones commonly used as currency.

Contrary to that announcement, all commerce taking place within the borders of the Kingdom of Derrickham and between the Kingdom and foreign entities will continue to use the long-standing currency valuations with which you are familiar. A list of these values is provided below for your convenience.

Coinage
Name; Common name(s); Value (Drake)
Copper Wyrm, drake, wyrm, copper; 1
Silver Serpent, serpent, silver; 5
Gold Dragon, dragon, gold;10

Gemstones
Common name(s); Color; Value (Drake)
Dragon's Blood, bloods; deep, blood red; 15
Ruby; light red; 20
Beryls; dark green; 25
Sapphires; aqua blue; 30
Peridots; yellow; 35
Amethysts; pink or purple; 40
Emeralds; light green; 50
Dragon Hearts; light blue; 75
Dragon Souls; small clear; 100
Dragon's Tear; rainbow or large clear; 500

Should you have any questions about this announcement, please do not hesitate to contact me.

Thank you,

Evreser Leets
Merchant Guildmaster of Crossroads
Minister of Finance of the Kingdom of Derrickham
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Re: Currency Values Announcement

Postby Pat W » Fri Jul 28, 2017 1:30 pm

Minister Leets,

This is very unfortunate news. I apologize, but I will no longer be able to conduct business within Derrikham. I sincerely hope you will reconsider, but until then I must move on to ply my trade elsewhere.

Erykhan, I believe you had put a deposit on a piece of merchandise. I can either refund you your deposit, or if you can arrange to pay in hard drake then I can make an exception for you due to the preexisting nature of our arrangement.



Sincerely,
Vladimir of Vladimir's mercantile.
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Re: Currency Values Announcement

Postby connick » Sun Jul 30, 2017 9:02 pm

Vladimir,

I must say that I'm truly perplexed by your response. Despite having only met with you breifly, you struck me as a prudent businessman. Your decision to cease trade within the borders of Derrickham runs contrary to my initial impressions of you.

I find it very hard to believe that you would acquiesce to a wholesale reduction of wealth based on a fly-by-night posting from some clandestine organization purporting to control world currencies. The so-called "United Merchants of Ashriya" hold no claim to authority over the Kingdom of Derrickham and I find it extremely hard to believe that any neighboring kingdoms have divested control of their economy based on an edict delivered by some unknown group via message board. If such usurpation of power were so easy, then leaders everywhere should beware lest they be overthrown by anyone with a quill and some ink. As a seemingly successful merchant you must have some holding in gems, so I would be surprised and saddened to learn that you have acceded to your fortune being reduced by as much as four fifths without any objection or recompense.

Even if one were to accept the ludicrous notion that these covert "United Merchants of Ashriya" held any sway over world currency values, the very idea of slashing the worth of gems without making commensurate adjustments to the costs of goods and services would be so capricious and ill-considered that it would instantly strip them of any claim to the title of "merchant". Why, and for what purpose, would anyone accept the idea that a silver is now worth just a copper? Why, and for what purpose, would anyone accept the idea that a Dragon's Tear is now worth just 100 drake instead of 500? If my coin purse were to be suddenly lightened by 400 drake I would consider that outright theft. To change gem values without consulting the appropriate leadership, advising citizens beforehand and providing mechanisms for a smooth transition would constitute the height of imprudence.

As the Minister of Finance of the Kingdom of Derrickham, it is my responsibility to protect our financial assets and I would be utterly derelict in my duties if I were to summarily devalue our treasury and the holdings of our citizens. To do so at the ephemeral proclaimation of some dubious "Master Silver Serpent", no less, would be cause for me to be sent to a madhouse.

No doubt this is the work of some prankster hoping to profit from their ruse. On the other hand, if this is the work of some organized criminal element with subversive aspirations, they should be forewarned. The Kingdom of Derrickham does not submit to intimidation. I honestly hope that you are not under any duress to make your decision not to do business with Derrickham and that you are safe. If you are being forcefully compelled to comply with the incredulous demands of these "United Merchants of Ashriya", I extend to you an offer of asylum. If you are to do business anywhere, I urge you to do so in the Kingdom of Derrickham where we will always honor the full value of your currency.

Sincerely,

Evreser Leets
Guildmaster of the Merchant Guild of Crossroads
Minister of Finance of the Kingdom of Derrickham
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Re: Currency Values Announcement

Postby Erykahn » Mon Jul 31, 2017 9:35 am

Vladimir,

I would still like to complete our preexisting buisness arrangement. Meet me in Crossroads, during the upcoming rise of the star Terres.

By the Grace of Simone, may you find shelter in the trees

Erykahn,
Knight of Derrickham
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Re: Currency Values Announcement

Postby Lance LeFleur » Wed Aug 02, 2017 6:20 pm

Vladimir,
For those of us who disregard Derrickham's nonsense stance on all things and acknowledge the true currency denominations , would you be open to a line of trade with us?

-Lance
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Re: Currency Values Announcement

Postby Pat W » Wed Aug 09, 2017 10:48 pm

Greetings all,

First let me state that I fully respect the authority of the Kingdom of Derrickham to conduct trade within their borders however they see fit.

Minister Leets and all other concerned parties,
The adjustment to the value of gems came as a shock to me as well. However, after the breaking the scarcity of gems has changed, and according to my associates who are geologists the properties of those gems in ritual, alchemy, and artistry have changed as well.
I can understand that without prior knowledge of the United Merchants of Ashriya their announcement would be dubious at best. In fact, I credit you for not blindly accepting what you're told.
If we continue to do business with the values as they previously were we would quickly find that our prices would need to rise to match the newfound wealth.
Instead, along with the revaluation, the UMA also issued new guidelines for the prices of most goods. With value being lowered in most cases. I must say I've heard nothing but success stories from merchants who have been operating under these new guidelines. They have been selling more goods at a higher rate of profit, I have had the same experience.
While I am not an alchemist or a ritualist I can tell you that if the depth of color of a gemstone doesn't change what its application is then it makes little sense to have different values associated with those gems.
Take for example what was called a Beryl vs an Emerald. If both do the same thing why is one 25 and the other 50?

I apologize for my hasty declaration before. I have considered my stance and am willing to continue to trade in Derrickham, however I can only accept hard coin or gems at the UMA prescribed values.

I hope this goes some way to help assuage your concerns.

Sincerely,
Vladimir of Vladimir’s Mercantile
Pat W
 
Posts: 344
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Re: Currency Values Announcement

Postby connick » Mon Aug 14, 2017 7:56 pm

Vladimir,

Thank you for your response.

As a geologist myself, I can attest to the changes in scarcity and properties of gems following the Breaking. The same is true for many other components traditionally used for both ritual and mundane purposes.

However, as drake and gems are - for the most part - a representative currency, it remains inappropriate to alter gem values in such a way that the value of an individual's holdings are not preserved. Whether there be a windfall of certain gems or a drying up of the veins that contain them, this should in no way affect our individual or existing fortunes. There are simple ways to address these changes without harm to anyone.

Your statement about newfound wealth necessitating price increases leaves me no less puzzled than before. Manipulation of currency values by merchants for the sole benefit of merchants already reeks of avarice. To add the suggestion that prices would need to rise in the face of the consumer's growing wealth seems almost an outright admission of unabashed greed. I hope that it is not your position that merchant profitability supersedes the right of ordinary citizens to retain the value of the money that they have earned and saved. I'm hesitant to ascribe this stance to you and apologize for even suggesting it, however, I hope you understand my wariness as the custodian of fair commerce in this kingdom.

With regard to a pricing guideline provided by the so-called UMA, we received no such announcement. As you might imagine, we would have treated it with the same incredulity as the one about gem values. I contacted this "Master Silver Serpent" directly and was offered only a curt response that they felt no need to make their existence known prior to the Breaking. How it is that you and others know of them and submit to their edicts is no small wonder to me. If they wished to remain unknown then they must have either allowed themselves to be known to you or very recently provided a succinct and unassailable claim to authority over your business. I think everyone would benefit from an explanation of your relationship to this clandestine entity. A similar explanation from any merchant now following the UMA version of gem valuation is also due. I have already requested the same explanation from the UMA which I look forward to receiving and dispensing to the public.

As for gems such as Beryls or Emeralds which bear an intrinsic value that is not linked to their purpose as a representative currency, I have been making careful considerations about this since the Breaking. While I do not wish to foster uncertainty, I will say that a rectification of the value of currency together with costs of goods and services has been a long time coming. Certain items have been prohibitively priced for ages while others are offered so cheaply as to take advantage of suppliers. The value of skilled and unskilled labor has been unbalanced and inconsistent and I hope to change all of this for the better in the near future.

For now, the most prudent decision is to continue with business as usual using the traditional prices and currency values. Only after thoughtful deliberation and consultation with the Queen and her populace will I announce any substantial changes to either.

I urge you to visit me during the next rise of Terres so that we can speak about these subjects at length. I'm certain we can figure out a way to maintain mutual profitability without any collateral harm to the citizens of Derrickham.

Thank you,

Evreser Leets
Guildmaster of the Merchant Guild of Crossroads
Minister of Finance of the Kingdom of Derrickham
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