[Glorantha] Re: Rune Magic

[Fred]

There's a bunch of things worth replying to in this post, but I'm
going to focus on this one.

On 6/16/06, Donald R. Oddy <donald at grove.demon.co.uk> wrote:
> In message <37b3929d3eru29mhjklunjfbide5on3vpf at 4ax.com> Stephen Tempest writes:

> >Each coin was issued for a limited period of about two to three years
> >- the official coin stamp given to licenced moneyers would vary with
> >each issue.  When new coinage was issued, people would have to return
> >their old coins to the mint where they would be melted down and
> >re-coined; normally you would be given 8 - 9 coins back for each 10
> >you handed in; in effect a 10% or 20% wealth tax.  People accepted
> >this system, rather than using old coins and just weighing them,
> >because the government guaranteed the purity of the silver used in the
> >coins. (Moneyers using too much alloy and not enough silver in their
> >coins would have their hands chopped off and nailed above the door of
> >the mint).
>
> A heck of a big disincentive to save in currency then although I
> can't see many peasants having ten coins. I can see this system
> working for merchants who use coins regularly but not for those
> who are doing well to acquire a few coins. The coins may be out
> of date but would still have some value.

What else could a peasant store wealth in?  Sure, it's a disincentive,
but other forms of wealth were disincentivized even more.

Valuables (such as jewelry or luxury goods) were restricted by sumptuary laws.

Livestock would be a good choice, if there was enough labor on his
farm to tend the extra animals.  Once he's got all he and his family
can care for, there's little he can do to increase the value of his
farm.

Christians were not permitted to make loans, so venture capital was
unavailable as an investment.

You're a peasant.  You have a particularly good year, and sell a calf
(if you let it grow up in your herd, you'll need more pasturage, which
you don't have).  You've got a few pence in your pocket.

The currency is about to be re-minted.  If you want to avoid the tax,
what do you do with the cash?


-- 
"Being a patriot no longer requires a musket, but it still takes balls."
     -----Me