Proclamation of Monetary Reform by Emperor Diocletian
To the Esteemed Citizens of the Great Roman Empire,
In the providence of the divine and the steadfast resolve of your Emperor, a new dawn rises upon our mighty empire—a dawn of prosperity, stability, and enduring strength. As your sovereign, tasked by the heavens to guide Rome to its destined glory, I stand before you today to herald a transformative reform that shall secure our economic foundations and ensure the welfare of every Roman, from the bustling streets of Rome to the furthest reaches of our vast dominions.
Our empire, the beacon of civilization, has weathered many storms through the valor of its legions and the resilience of its people. Yet, as we turn our gaze inward, we confront a foe not of flesh and blood but of metal and measure—a debasement of our currency that has eroded the very fabric of our economic might. It is a challenge that calls for not just action but innovation, courage, and unity.
Thus, by the power vested in me and with the wisdom of our ancestors guiding our path, I announce today a bold and unprecedented monetary reform. This reform is conceived in the spirit of Roman ingenuity and resolve, designed to restore the integrity of our currency and with it, the prosperity of our empire.
The Cornerstones of Our Reform:
Introduction of a Temporary Currency: In the coming days, we shall commence the issuance of a temporary currency—tokens of paper and clay, crafted with the highest standards of Roman artisanship. These tokens shall serve as a bridge, a temporary medium of exchange as we undertake the sacred task of purifying our coinage.
Retirement of the Debased Coinage: All citizens are called upon to exchange their current holdings of debased silver and gold coins for these temporary tokens, which shall be honored in all transactions throughout the empire. This exchange shall be conducted at designated centers, under the watchful eyes of our most trusted officials, ensuring fairness and transparency.
Minting of New Pure Coinage: Concurrently, the Empire shall embark on the minting of new coins, struck from pure silver and gold, to be the standard bearers of Roman economic might. These coins shall be a testament to our resolve, embodying the values of trust, purity, and stability.
Exchange of Temporary Currency for New Coinage: Upon the completion of this minting, a grand exchange shall take place, whereupon every token of temporary currency shall be exchanged for pure, new coins, marking the culmination of our reform and the beginning of a new era of economic stability.
Our Commitment to You:
This monumental task cannot be borne by the will of one alone. It demands a unity of purpose, a shared vision for the prosperity of Rome. As your Emperor, I pledge the full resources and resolve of the empire to ensure the success of this reform. Let every man, woman, and child rest assured that the value of their labor and savings shall be preserved and protected throughout this transition.
A Call to Unity:
In this momentous period, I call upon each of you to embrace this reform with the courage and determination that is the hallmark of the Roman spirit. Let us stand together, as one empire, one people, under the banners of trust, innovation, and prosperity.
Let the criers carry this message across our cities and villages, let it be inscribed on the walls of our forums and temples: Rome shall rise, not on the strength of its legions alone, but on the unbreakable resolve of its people to forge a future of unparalleled greatness.
May the gods favor our journey, and may the glory of Rome endure for a thousand generations.
By the Hand of Your Emperor, Diocletian
My general ideas:
Issue a temporary currency that can be exchanged for debased one. Standardized size, and anti-counterfeiting tricks will be used such as embedding something inside the coin which can be accessed by cracking it to check for validity, unique mixture of clay and additives as well as firing techniques to achieve special unique colors as well as centralized government controlled production centers with unique stamps. Paper currency would be similarly made, with unique fibers and rare dyes used with primitive watermarks utilized as well is possible.
Clay tokens are to replace coins of everyday use, while paper currency would be used as a voucher for large stockpiles of currency, usually in silver or gold weight rather than specific coin. They will all be given a clear expiration date to emphasize the fact this currency will be temporary and strengthen public confidence in government reform plan. The government will run and organize exchange mechanisms and facilities. To prevent speculation and price hikes the issuing of this temporary currency will be accompanied by an equally temporary price controls. All breeches of it will be severely punished, all counterfeiting attempts are to be punished by public execution of the offenders.
Criers, orators and others will be hired to spread the proclamation far and wide. Military garrisons and units will also be used to deploy the proclamation to remote areas as well. The government will lead the way in accepting said tokens as payment in its own business to demonstrate state backing.
Both distribution and redemption will be done at pre-planned redemption centers controlled and ran by the government with multiple points of control to prevent abuse and failure. Phase out will be done transparently, gradually and fully leading to a full phase out and replacement of both debased currency and temporary one for pure coinage.
If you have any criticisms or inputs to this idea they’d be greatly appreciated!