POUND ACT 1723

AN Act for the establishment of the Pound Nort as the official currency and medium of exchange for use in the Kingdom of Nortain and Hoebrideland, for the payment of all debts, public or private, and for all transactions, payments and transfers of money by a person or persons whatsoever in all lands of the Earth.

WHILST the Kingdom of Nortain and Hoebrideland has traditionally and generally used the currency, money and medium of exchange of the pound, it has been decided upon by your Majesty's most humble and dutiful subjects, Lords Spiritual and Temporal, and the House of Commons of the Parliament, that the Kingdom officially adopt this currency in order to further and improve the oeconomy of the land and empire of Your Majesty through the enactment of a currency of the Parliament. We, therefore, in the interest of the public good of subjects of your Majesty in the Unioned Kingdom of Nortain and Hoebrideland, do beseech that your Majesty do enact and be it enacted by the King's most excellent majesty, with the consent of Lords Spiritual and Temporal and House of Commons, here assembled in this Parliament of the Kingdom of Nortain and Hoebrideland, and by the Authority of the same, that the official legal tender of the Kingdom aforementioned, be the 'Pound Nort', commencing the day after the proclamation, with the sub-divisions as follows hereinafter.

II. BE it further enacted that the Pound Nort, hereinafter referenced to be the 'Pound' or similar, have the currencial value of the following. One Pound, that is one Pound Nort, is to be worth one Pound as it is the day of the enaction, and worth nominally the amount or sum of three Troy Ounces and 1⅔ Pennyweights in weight or mass of the purest Gold, that is to be formed by the Earthly processes of Nature. This is to be declared in the public streets and in the Gazette of Cadell to all subjects of his Majesty.

III. BE it further enacted that the Pound comprise of 6 sub-divisions of value. One Pound, that is of Pound Nort, be worth 20 shillings. 20 shillings is hence to be worth one Pound Nort, and thus is to be worth the same as the aforementioned weights of Gold and Silver respectively. One shillings is to be further divided into 12 pennies, that is to be known as a 'pence' in the plural form. And 12 pennies are to be hence worth one shillings, and therefore 240 pennies the worth of one Pound. The penny is to be further divided into four farthings, that are worth one penny when recombined together. One farthing is to be worth two quotherings, which may also be referred to as a quarthling, or quodring, or similar, for there are no other words in the English language nor any of the Native languages of the Kingdom similar, same or otherwise ambiguously referred to. A quothering, of which by basic arithmetic, eight form a penny, may be further subdivided into two of the smallest division, that is the mite. This is to be the smallest division, which is 1/16th of a penny, and hence 3,840 of which form one Pound.

IV. BE it further enacted that sums of money shall be written in the form of £sd, with £ standing for Pound, s for Shilling and d for Penny. It is expected, assumed and presumed by Us that the public shall be good and well enough to calculate the fractions that are farthings, quotherings and mites after the penny numeral.

V. PROVIDED that all common names for the denominations of pence, shillings or pounds are to remain valid and legal for representation, naming and identification of the coins.

VI. FURTHER provided that the value of the pound Nort here defined, remain the same value as the pound of yesteryear, and that hence there shall and will not be any discrepancy betwixt the two values of each, and should there be such a discrepancy, the value of the pound Nort shall be amended by prerogative or inflation to fix, repair and remove this discrepency.

VII. FURTHER provided, and be it further enacted by your Majesty, that the currency in place, used by the city of Cadell-proper-upon-Nort in the county of Cadellshire, shall continue and remain to use the currency of the wetch, as used since time immemorial, and that one wetch, and hence its subsequent divisions as fractions of this value, shall be set to the value of £13.6.0 as of the passing of this act, and henceafter be set to its own path, with maximum divergence of 6 shillings as the Wetch Act details.

VIII. FURTHER provided that coinage and notes and cheques and all forms of credit for pounds may retain and keep their existing face values as written, printed or painted, or otherwise depicted, upon said coinage, notes, cheques &c.