Post by Pyotr Alekseevich on Sept 30, 2016 14:54:13 GMT
Constantly frustrated at Russia's archaic systems of business and finance, the Tsar has elected to revolutionise the Russian financial system.
Firstly, the Tsar declares that restrictions on work for members of the Jewish community at large. They are invited to establish business and banking firms in Russia, although digressive usury is still illegal and punishable by public flogging.
The Tsar announces the founding of a State Bank in Narva. The Bank is to be called the Bank of Russia and will be founded along similair principles to the Bank of England, established not long ago. To induce subscription to the, the subscribers are to be incorporated by the name of the Governor and Company of the Bank of Russia. The Bank is given exclusive possession of the government's balances, and is the only limited-liability corporation allowed to issue bank notes. The lenders will give the government cash (bullion) and issue notes against the government bonds, which can be lent again.
The Bank's notes will become widely accepted currency. They can be redeemed at the Bank for gold or coins. People should seldom doubt that the ‘promise to pay’ written on the notes will be honoured. The Bank's connection with the Government, the scale of its private banking business, and its position at the heart of the growing financial system of the City of Narva make it the leading commercial bank of the day.
The Tsar personally organises Russia's first and largest insurance and joint stocks company, along with a government office regulation the practices of insurance and the trading of stocks. Merchants and investors will now be able to insure their wares against damage through government sanctioned insurance firms. Men of wealth will also be able to purchase and trade stocks in some of Russia's largest business ventures.
To ensure stability of sorts in the stock trading market a new Stock Exchange is opened in Narva.
In the new docks and warehouses of Narva a new company is founded, co-opted by the state and private citizens, with the state owning a 60% share. This company is titled the East Baltic Trade Company, the company will explore trade and business ventures across the Baltic and the wider world. It will provide haulage for goods and shall directly run many new trade posts and colonial ventures.
The Tsar also declares a trade monopoly on Oak timbers. Only a company holding a Royal Trade Monopoly may partake in the sale and export of Oak, a hard wood found in abundance in Russia and essential for ship making across the world. This monopoly is provided to the highest initial bidder and will require a yearly fee payable by the Monopoly holder to the government, alongside this the monopoly will need to be renewed every 5 years.
Firstly, the Tsar declares that restrictions on work for members of the Jewish community at large. They are invited to establish business and banking firms in Russia, although digressive usury is still illegal and punishable by public flogging.
The Tsar announces the founding of a State Bank in Narva. The Bank is to be called the Bank of Russia and will be founded along similair principles to the Bank of England, established not long ago. To induce subscription to the, the subscribers are to be incorporated by the name of the Governor and Company of the Bank of Russia. The Bank is given exclusive possession of the government's balances, and is the only limited-liability corporation allowed to issue bank notes. The lenders will give the government cash (bullion) and issue notes against the government bonds, which can be lent again.
The Bank's notes will become widely accepted currency. They can be redeemed at the Bank for gold or coins. People should seldom doubt that the ‘promise to pay’ written on the notes will be honoured. The Bank's connection with the Government, the scale of its private banking business, and its position at the heart of the growing financial system of the City of Narva make it the leading commercial bank of the day.
The Tsar personally organises Russia's first and largest insurance and joint stocks company, along with a government office regulation the practices of insurance and the trading of stocks. Merchants and investors will now be able to insure their wares against damage through government sanctioned insurance firms. Men of wealth will also be able to purchase and trade stocks in some of Russia's largest business ventures.
To ensure stability of sorts in the stock trading market a new Stock Exchange is opened in Narva.
In the new docks and warehouses of Narva a new company is founded, co-opted by the state and private citizens, with the state owning a 60% share. This company is titled the East Baltic Trade Company, the company will explore trade and business ventures across the Baltic and the wider world. It will provide haulage for goods and shall directly run many new trade posts and colonial ventures.
The Tsar also declares a trade monopoly on Oak timbers. Only a company holding a Royal Trade Monopoly may partake in the sale and export of Oak, a hard wood found in abundance in Russia and essential for ship making across the world. This monopoly is provided to the highest initial bidder and will require a yearly fee payable by the Monopoly holder to the government, alongside this the monopoly will need to be renewed every 5 years.
