To: Jacksonia
From: Grand Republic of Florida
Recently, there has been discussion regarding domestic monetary policy in the Grand Republic of Florida. Economic thought has suggested that the gold standard is not only an antiquated system but one that prevents greater monetary control over a nation's respective economy, which could potentially be used in a manner that could better promote economic stability and growth. Our legislature has been considering abandoning the gold standard and forming a central banking system based on fiat money. The central bank would be responsible for controlling the money supply via its authority over the banking system. This central bank would be responsible for not only printing the currency, but controlling the general money supply. The central bank would have two mandates: first, to promote price stability; and second, to promote full employment. This could result in better livelihoods for the members of the economy.
Furthermore, a central banking system would likely result in closer ties between our two nations, if we chose to jointly adopt a central bank. Our citizens would have more access to each other's economies, with the shared currency. And we could better practice monetary policy that would mutually benefit our respective economies. Therefore, we would like to propose that Jacksonia and the Grand Republic of Florida jointly charter what could be called the Columbian Central Bank, to promote stronger economic access and economic stability in our respective nations. Part of this would be the adoption of a common currency, what could be called the Columbian Dollar. What say you to this proposal?
OOC: EQ, my stats are... weird. I'm a republic, but apparently no one is in charge.