02 - Iron Kingdoms W.. - Captain Spud Is Amazing

108.1.141.197
that the bearer reCeives the best value With no haggling
Whatsoever. very feW of these Coins are in CirCulation and
rumor has it that they all eventually Wind up baCk in the
hands of the priests. many believe that all non-priests Who
try to retain these Coins Come to bad ends.
Banking
With the increase in trade and travel throughout
the kingdoms of western Immoren, merchants and
travelers alike have found it necessary to keep large
sums of coin on hand to handle business transactions
and so forth. Given the sometimes unfavorable
exchange rates, it is also advantageous to have a source
of local currency at one’s disposal. Though easier,
travel has by no means become safer, and carrying
large sums through the wilderness can be dangerous
indeed. In fact, bandits and brigands constantly plague
the major arteries for trade and travel, including the
rail lines.
An original solution to these problems has arisen
in Cygnar, Llael, Rhul, and to a lesser extent in Ord.
Companies known variously as holding companies,
transfer companies, or banks have slowly appeared
over the past century. Still a novel concept throughout
much of Immoren, the businesses propose to hold
an individual’s cash reserves safely until such a time
as they are needed. This is especially useful for
merchants and others who require large cash sums
during their travels.
On a local scale, banks like the Black River Transfer
Company in Corvis and the Bainsmarket Holding
Company offer to safeguard assets from burglary and
banditry, and quite a few wealthy individuals have
seen the wisdom in using the bank’s secure vaults.
Banknotes written on special vellum are provided to
the customer at the time of the deposit to record his
holdings. The banks can generally produce small cash
sums on a daily basis, but most require twenty days
notice before accommodating a full withdrawal from
any account. For a small fee, generally one percent of
an item’s market value, the banks also provide storage
for small valuables such as jewelry and gems.
Each banknote bears a design unique to the issuing
bank on a piece of fine, cream-colored vellum. The
notes include information about the issuing bank, the
holder of the note, and the amount of money held by
the bank for the individual. Each note is signed by
both the bank official verifying the note and the note’s
holder then embossed with the bank’s seal. Both the
vellum and the seals are produced specially for the
banks and their production is a closely-guarded secret.
The only way to forge a bank note would be to acquire
some of this special vellum and an official bank seal
(or a finely-crafted reproduction).
In addition to these local services, the banks also
help to negotiate the transfer of large cash sums in the
form of bullion from one locale to another (thus the
origin of the term “transfer company”). An individual
needing to draw on his banked cash at a distant locale
can present the banknote declaring his assets and
draw local currency against the bullion value of his
banknote for a small usage fee, generally one percent
of the amount withdrawn. As with large withdrawals
from one’s home bank, these require up to twenty
days to be fulfilled. When cash is withdrawn against
a banknote in this manner, the note is marked and
embossed by the lending bank to verify the withdrawal.
An official notice signed by both the bank official and
the holder of the bank note is then issued to the
gentleman’s holding company requesting the transfer
of funds from his account to the lender.
These accounts are usually settled within a few
short months between the banks by agents at the Leryn
Bullion Exchange. During the Khadoran invasion,
the bullion exchange moved from Leryn to Corvis
but retained its old name. Fortunately for Khador,
a large portion of the bullion was not evacuated in
time, but the profit of taking Leryn is offset by the fact
that Khadoran agents are now having a difficult time
settling accounts at the Exchange. Agents balance the
accounts between the banks and settle on the final
amount of bullion exchanged based on net transfers
between the banking concerns. When all accounts
are settled some of the bullion is held in reserve at
the Exchange, while the remainder is converted to
currency and transported via heavily armed carriages
or train cars back to the banks. While there are still no
guarantees that the transfer companies and banks will
have better luck transporting large sums of coin than
anyone else, by shipping large sums all at once they are
better able to guard and protect the shipments.
World Guide 67