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The course of the 19th and 20th century includes a number of economic collapses and economic unions, some successful, some not.
The nations of the League of North American States currently share a single currency, the North American Dollar, divided into 100 cents. Theoretically, the North American Dollar was backed by 1.5 grams of gold. It was established after the North American War by re-establishing the national currencies to a single standard. Later, the currencies themselves were unified.
Prior to the Third Global War, there were three major currencies in North America. There was the New-French livre, the British pound, and the Japanese-Spanish peso/yen (dollar).
The livre originally contained approximately 4.5 grams of silver. The peso or yen or dollar contained 24 grams, while the pound contained 117 grams of silver.
The peso was divided into 8 reales or "bits". Smaller coins were fractional units of these. Historically, the coins in use were
- 1/16 real
- 1/8 real
- ¼ real
- ½ real
- 1 real
- 2 reales
- 4 reales
- 1 peso
- 1 peso
- 2 pesos
- 5 pesos
- 10 pesos
By the late 19th century, banknotes had become more popular. The silver peso and the gold coins fell out of use in most nations, and various banknotes came into use. Most nations used the following banknotes
- $500 (mostly for inter-bank transactions)
- $1,000 (mostly for inter-bank transactions)
- $5,000 (mostly for inter-bank transactions)
- $10,000 (mostly for inter-bank transactions)
The Texan economy was in frequent trouble, due to wars with Mexico (and occasionally Misuri) and the frequent political upheavals. The Texan peso was repeatedly devalued until there were nearly 60 Texan pesos to the original peso. By the Third Global War, the currency in use was:
- ¼ peso
- ½ peso
After the Third Global War, hyperinflation struck, destroying what was left of the peso's value. Banknotes ranging from $100 million to $50 billion were in use when the peso was re-established at its original value.
The yen was divided into 8 momme, each of which were divided into 80 xen
- 1 xen (=1/80 real)
- 2 xen (=1/40 real)
- 5 xen (=1/16 real)
- 10 xen (=1/8 real)
Silver and gold were identical to the pesos, with the addition of the 20 yen coin in Aruta
Like the peso, by the 19th century, gold coins and the silver yen fell out of use. Banknotes of $1 to $100 (with higher denominations for inter-bank transactions) were in use.
The Oregonian dollar was divided into 4 shillings, each of which were divided into 12 pence, each further subdivided into 4 farthings. Prices were commonly given in the form $X/Y/Z, that is, X dollars, Y shillings, Z pence. Farthings were given as fractions. Another common format was X$YsZd
- Farthing (=1/24 real; 3-1/3 xen)
- Half-penny (=1/12 real; 6-2/3 xen)
- Penny (=1/6 real; 13-1/3 xen)
- Penny-ha'penny (=¼ real)
- 3 pence (=½ real)
- 6 pence (=1 real)
- Shilling (=2 reales)
- Half-dollar (=4 reales)
In western Oregon, gold coins and silver dollars had fallen out of common use, with banknotes taking their place. Banknotes in denominations of $1, $2, $5, $10, $20, $50, and $100 were in circulation.
Unusually, banknotes in eastern Oregon, the Rupert's Land territories, were denominated in shillings and pounds, a holdover from before it was ceded to Oregon. The "pound" and "Shilling" in these cases, however, were defined in terms of the dollar, and were thus not identical to the North American pounds and shillings.
- 5 Shillings ($1/1/-)
- 10 Shillings ($2/2/-)
- £1 ($5)
- £2 ($10)
- £5 ($25)
- £10 ($50)
- £20 ($100)
New France used the livre of 4.5 grams. The livre was divided into 20 sous, each divided into 12 deniers. 1 peso was worth exactly £5/6/8 (5 livres, 6 sous, 8 deniers) ($3=£16). 1 pound after the revaluation was worth £26/13/4 (NAC£3=NF£80).
- 1 denier
- 3 denier
- 6 denier
- 1 sou
- 5 sous
- 10 sous
Minnesota used banknotes printed in Canada. Gold coins had never been common in Canada-Minnesota. The silver £2 and £5 coins fell out of use when banknotes became common. Banknotes in denominations of £1, £2, £5, £10, £20, £50, £100, £500, and £1,000 were in circulation
Arkansas, due in part to frequent political upheavals, and the occasional war with Misuri or Texas suffered periodic devaluations of its livre. By the Third Global War, the Arkansan livre was worth about a quarter the Canadian-Minnesotan livre. It suffered more devaluation following the Third Global War. Before the Third Global War, the currency in use was
- ½ sou
- 2½ sous
- 5 sous
- 10 sous
After the Third Global War, the ½ to 10 sou coins fell out of use, while £5,000 and £10,000 banknotes were added.
Arkansan New Livre
In 1910, after stabilizing inflation, the Arkansan parliament declared the introduction of a New Livre, to be worth 50 old livres. The New Livre would be decimalized, worth 100 centimes. 1 Old Livre was thus worth 2 centimes, and the old sous, .1 centime
- 1c (=10 old sous)
- 2c (=£1)
- 5c (=£2/10)
- 10c (=£5)
- 20c (=£10)
- 50c (=£25)
- £1 (=£50)
- £2 (=£100)
- £5 (£250)
- £10 (£500)
- £20 (£1000)
- £50 (£2500)
- £100 (£5,000)
- £200 (£10,000)
- £500 (£25,000)
The pound was used in the North American Confederation. It was subdivided into 20 shillings, each of which were divided into 12 pence, each of which was further divided into 4 farthings. There were originally approximately $4,7 (4 pesos 7 reales) to a pound, and around 25 (Canadian-Minnesotan) livres to the pound.
- 3 pence ("half-bit")
- 6 pence ("bit")
- 1/- ("two bit")
- 2/- ("half-dollar")
- 2/6 ("half-crown")
- 5/- ("Crown")
- 10/- ("Half-sovereign")
- £1 ("Sovereign")
- 21/- ("Guinea")
The pound was later revalued to 5 pesos, breaking the currency union with Britain. The North American Pound was now worth 1.026 British pounds
Former Currency Unions
Latin Monetary Union
The Latin Monetary Union involved, initially, several Western European nations. It later expanded to include much of Southern and Eastern Europe as well. Each nation valued its basic coin at 4.5 grams of silver or 0.290322 grams of gold. Each currency was subdivided into 100 units. It fell apart after the Third Global War
Germanic Monetary Union
The Germanic Monetary Union was similar to the Latin Monetary Union, except that the units were not equal, but rather, in easy multiples of each other.
The British pound was decimalized at the time of the creation of the Monetary Union. Previously, it had been divided as in the NAC. The pound was now divided as
- 1 pound = 10 florin = 100 (new) pence = 1000 (new) farthings
The British pound and the North American pound remained equal, but smaller units did not correspond
- 1 thaler = 100 kreutzer (1 thaler = 2 florin, 1 kreutz = 2 farthings)
- 1 guilder = 100 hellers (1 guilder = 1 florin, 1 heller = 1 farthing)
Like the Latin Monetary Union, the British Monetary Union did not survive the Third Global War.
The Scandinavian Monetary Union was based on coins set at 6.25 grams called the Krone or Krona or Króna
- 1 Krona = 100 Öre
- 1 Krone = 100 Øre
- 1 Króna = 100 Oyrur
- 1 Króna = 100 Aurar
This too fell apart after the Third Global War
European Monetary Union
The European Monetary Union was established shortly after the Second Eurasian War. All nations in the Union shared a common currency, the European Taler, divided into 100 Cents. 1 Taler was theoretically backed by 1 gram of gold (thus, NA$2=Eur$3). This fell apart in the 1950's into two separate currency unions, the Western European Monetary Union and the Eastern European Monetary Union
Western European Monetary Union
- 1 Western Taler = 100 cents
Fell apart in the 1970's as one after another, nations broke off, adopting new currencies
Eastern European Monetary Union
- 1 Eastern Taler (later renamed Ruble) = 100 cents (later Kopecks)
Lasted longer than the WEMU, but eventually fell.
East Asian Monetary Union
Another post-Second Eurasian War attempt at monetary union. All nations shared a common currency, the yen/yuan, divided into 100 xen/?. It was theoretically backed by 1 gram of gold.