United Republic dollar

The United Republic Dollar (symbol: $; ISO code: URD; also abbreviated UR$ or U.R. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.R. dollar, Alstinian dollar, or colloquially buck) is the official currency of the United Republic and several other countries. The Currency Act of 1690 introduced the U.R. dollar at par with the Levantine Taler, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.R. banknotes are issued by the Federal Reserve System in the form of Federal Reserve Notes. The Federal Reserve System also conducts the monetary policy of the United Republic in conjunction with the Ministry of the Treasury, and acts the nation's central bank.

For most of its existence, the dollar was classified as being commodity money, its value linked to silver and gold, until 1892, at which point the dollar was solely backed by gold. Since 1979, the dollar has been deemed as fiat money, backed only by the economy in the areas where it is accepted.

Overview
Under Article One, Section Eight of the U.R. Constitution, Parliament has the power "to coin money,", and has over the centuries implemented laws in regards to this power, as currently codified in Title 30 of the U.R. Code, under Section 5115, which prescribes the forms in which the United Republic dollars should be issued. These coins are both designated in the section as "legal tender" in payment of debts. Section 5115 also provides for the minting and issuance of other coins, which have values ranging from one cent to 100 dollars.

In addition, Article One, Section Nine of the Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time", which is further specified by Section 334 of Title 30 of the U.R. Code. The sums of money reported in the "Statements" are currently expressed in U.R. dollars, thus the U.R. dollar may be described as the unit of account of the United Republic.

Nicknames
The colloquialism buck(s) is often used to refer to dollars of various nations, including the U.R. dollar. This term, dating to the early 18th century, may have originated with the colonial leather trade, or it may also have originated from a poker term.

Other well-known names of the dollar as a whole in denominations include colorprints, rainbows, and dead heads, the latter of which referring to the deceased kings and presidents pictured on the bills. Dollars in general have also been known as bones, while newer designs, with portraits displayed in the main body of the obverse (rather than in cameo insets), upon paper color-coded by denomination, are sometimes referred to as face notes.

Nicknames specific to denomination:
 * The quarter dollar coin is known as two bits, alluding the dollar's origins as the "piece of eight".
 * The $1 bill is nicknamed buck, single, or Founder, after King Alstanus Ryefield.
 * The infrequently-used $2 bill is sometimes called deuce, Doug, or Corvin, after King Douglas Corvinus.
 * The $5 bill is sometimes called fiver, Mark, or Alanson, after President Marcus Alanson.
 * The $10 bill is sometimes called sawbuck, raven, or Atwood, after President James Atwood.
 * The $20 bill is sometimes called double sawbuck, Sam (after President Samuel Clement), or double raven.
 * The $50 bill is sometimes called a square (after it depiction of Leman Square on the reverse), or a Patrick, after President Patrick T. Jones.
 * The $100 bill is called Alfred, Alfie (both referring to its potrait of President Alfred F. Jones), or Jade, referring to its depiction of the Jade Palace on the reverse. Other nicknames include C-note (C being the Latin numeral for 100), or bill (e.g. two bills = $200).
 * Amounts or multiples of $1,000 are sometimes called grand in colloquial speech, abbreviated in written form to G, K, or k (from kilo; e.g. $5k = $5,000). Likewise, a large or stack can also refer to a multiple of $1,000 (e.g. "twenty large" = $20,000).

History
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Monetary Policy
See also: Federal Reserve System, Ministry of the Treasury,, Monetary Policy of the United Republic

The Federal Finance and Reserve Act created the Federal Reserve System in 1894 as the central bank of the United Republic, with its principal task being to conduct the nation's monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the Alstinian economy. It is also tasked to promote the stability of the financial system and regulate financial institutions, and to act as lender of last resort.

The Monetary policy of the United Republic is conducted by the United Republic Open Market Commission, which is composed of the Minister of the Treasury, Federal Reserve Board of Governors and 6 out of the 13 Federal Reserve Bank presidents, and is implemented by all thirteen regional Federal Reserve Banks.

Monetary policy refers to actions made by central banks that determine the size and growth rate of the money supply available in the economy, and which would result in desired objectives like low inflation, low unemployment, and stable financial systems. The economy's aggregate money supply is the total of:
 * M0 money, or Monetary Base – "dollars" in currency and bank money balances credited to the central bank's depositors, which are backed by the central bank's assets,
 * plus M1, M2, M3 money – "dollars" in the form of bank money balances credited to banks' depositors, which are backed by the bank's assets and investments.

The UROMC influences the level of money available to the economy by the following means:
 * Reserve requirements – specifies a required minimum percentage of deposits in a commercial bank that should be held as a reserve, with the rest available to loan or invest. Higher requirements mean less money loaned or invested, helping keep inflation in check. Raising the federal funds rate earned on those reserves also helps achieve this objective.
 * Open market operations – the Federal Reserve buys or sells UR Treasury bonds and other securities held by banks in exchange for reserves; more reserves increase a bank's capacity to loan or invest elsewhere.
 * Discount window lending – banks can borrow from the Federal Reserve.

Monetary policy directly affects interest rates; it indirectly affects stock prices, wealth, and currency exchange rates. Through these channels, monetary policy influences spending, investment, production, employment, and inflation in the United Republic. Effective monetary policy complements fiscal policy to support economic growth.

When the Federal Reserve makes a purchase, it credits the seller's reserve account (with the Federal Reserve). This money is not transferred from any existing funds—it is at this point that the Federal Reserve has created new high-powered money. Commercial banks then decide how much money to keep in deposit with the Federal Reserve and how much to hold as physical currency. In the latter case, the Federal Reserve places an order for printed money from the U.R. Treasury Ministry. The Treasury Ministry, in turn, sends these requests to the Bureau of Engraving and Printing (to print new dollar bills) and the Bureau of the Mint (to stamp the coins).

E-commerce
''Main article: E-commerce in Alstin

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