Equipment Price Exchange Rates

[mike wightman]

On the frontier they have some political autonomy, but they are still bound to use the Imperial credit for their monies

The unit of exchange in interstellar commerce, and between the Imperium and the member worlds, shall be the Imperial Credit. The Imperial Credit shall be valued independently of the value of any coin, currency, or value of any member world. The Imperium shall have the responsibility and power to control the value of the Imperial Credit.[/credit]
Like I said, it would be like each US state having its own currency pegged to the Federal dollar, which is a recipe for financial disaster.

Lots according to google.

 

[Condottiere]

I'll bet that the Credit Imperiale are recognized by law as a means to settle a public or private debt or meet a financial obligation, including tax payments, contracts, and legal fines or damages, within the borders of the Imperium.

Local authorities can probably introduce their own legal tender, that aren't necessarily recognized beyond a hundred diameters. Or even the next town.

Or promissory notes.

 

[aramis]

Membership of the Imperium should require the use of the Imperial Credit for all monies. It never made any sense that there would be a local credit valued against the Imperial Credit - it would be like US states having their own currencies and only using the dollar for federal level and international trade, or the EU allowing local currencies to operate alongside the euro..

Which was exactly how the US set itself up in the 1780's...
Certain banks were authorized to issue local scrip valued in USD up into the 1940's... The Alaska bills in $1, $5 and $10, for example, were issued by the First National Bank of Fairbanks, locally printed, and valid US currency...
Likewise, the UK colonies local currencies were pegged to the Pound until home rule, and in some cases, after formal independence.

Local currencies make plenty of sense when communications and financial factors are significantly time delayed. Even Rome didn't ban local currencies when it took over - it just paid for everything in denarii, and wanted taxes paid in same, or in equivalent value in precious metals.

 

[kilemall]

I like certain aspects of the exchange too, in that raw materials and handicrafts are ridiculously cheap at the lower TL and it’s very difficult for a low tech low starport world to scrape together enough CrImp to buy/support makers to bootstrap their way up.

I could also see world currency decoupled from the CrImp for internal use and liquidity, even as inflated bushels of it get converted for imports.

 

[kilemall]

Why would a planet need Imperium Credits?

To pay taxes to the local subsector duke, and import goods.

How do they acquire Imperium Credits?

Tourism and exports; retired Imperial citizens.

As I recall the retirement pay is available at the character’s home world, so an incentive to play nice and potentially get retirement largesse, potentially at several times the average annual per capita rate if one does currency conversion from CrImp to local.

 

[Condottiere]

Let's not overlook pork barrel politics.

Getting the Imperium to invest locally by building facilities and bases dirtside, and maintaining large numbers of civil servants there.

Arguably, interstellar commercial corporations.