Treasury Department

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"Counting the Cost"

Dagostinia is partly reliant on the economy of the United States of America for it's livelihood.  Dagostinia has an active trading and commodities exchange with the United States. The 2007 depression of the United States had not had an effect on Dagostinia's economy. In fact, the micro-economy had grown. Now that the macro-economy is surging, Dagostinia is thriving!

Dagostinia's Treasury Department manages and operates the Central Bank and the Central Mint.

Dagostinia's unit of currency is the wage. The wage is pegged at the amount of the minimum federal wage of the United States, currently Dω1.00 = US$7.25 (as of 7/24/09). This is merely a convenience of valuation and has no economic tie to the dollar. The wage is broken into 1/60th units referred to as mins. Dm1 = US$0.1208. This system allows wages to be paid for in one minute increments, and for the value of goods to be determined by the amount of time one must work for them.  There is no actual minimum wage in Dagostinia.

Dividing currency into 60th parts may be odd, but is not unique. The old Tuscan lira and Luccan lira were treated in the same way. One lira was broken into 60 quattrini.

Dagostinia is in the process of designing and printing a limited amount  of currency. Plans are currently for m½, m1, m6, m12 and m30 coins, as well as ω1, ω2, ω4 and ω8 notes.  These amounts coincide roughly with the US amounts of 6¢, 12¢, 73¢, $1.45, $3.63 and $7.25, $14.50, $29 and $58 respectively.

Currency exchange is done with a 3% fee. Amounts dispensed are rounded down to the nearest US$0.10 or Dm1, depending on which currency is being converted to.

Dagostinia currently has a flat business income tax rate of 5%. There is no personal income tax, property tax, or sales tax.

Treasury Divisions:

Banking

Minting 


Coin and note values and names:

m½:  pin (þiŋ)
m1:    min (miŋ)
m6:    ses (ßiß)
m12chore (jor)
m30: cofi (qo£i)

ω1:    wage (uij)
ω2:   cord (qorð)
ω4:   dem (ðim)
ω8:   den (ðiŋ)