Rossan Argotto
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| Argotto Rossano | |
 | |
| Unit | |
| Code | RA |
| Plural | argottos, argotti |
| Symbol | ꕥ |
| Denominations | |
| Subunit | |
| ⅛ | arguno |
| Plural | argunos, arguni |
| Banknotes | 1, 8, 16, 32, 64, 256, 512 |
| Coins | ⅛, ¼, ½, 1 |
| Use | |
| Introduced | In continuous use since early history X-XX 654 TT (paper note) 7-2 16 PC (floating-value currency) |
| Inflation | 4.6% (61 PC) |
| Used in | Republic of La Rossa |
The Rossan argotto (symbol: ꕥ, code: RA, from the Rossan argento for "silver" and otto for "eight") is the official currency of La Rossa. Authorized in 654 TT by decree of Dux Francesco Buonestrotti di Buglio, paper banknotes were introduced with a fixed exchange rate with silver, the dominant currency at the time. The value of a single argotto was standardized at ⅛ of a Rossan ounce, based on the popular practice of cutting one ounce coins into pieces of eight. Rossan banknotes are issued by Banca Nazionale, the central bank of the Republic of La Rossa.
After the Silver Crisis, which began in 1 PC after the exhaustion of silver from the mountains of Montesuvia, a wave of populist governments introduced a number of fiscal and monetary reforms, including the abolishment of the silver standard in the year 16 PC. The Rossan argotto currently follows a floating exchange rate and is not backed by any commodity, in order to introduce flexibility in action to what would have otherwise been a constrained currency. Despite the near-ubiquitous use of the currency on La Rossa, inter-island trade is occasionally performed using physical goods, most commonly silver, depending on the technological and monetary development of the island being traded with. Because of this, La Rossa continues to hold on to significant silver reserves.
History
Early Currency and the Rise of Silver
Common conjecture states that trade and commerce on the island of La Rossa has existed for as long as humanity itself. While the origins of neither are fully clear, the use of various commodities as mediums of trade, such as gemstones or metals, is likely to have occured centuries before the earliest traces of recorded history. The rise of statehood in the early period of the Rossan city-states is believed to have brought with it a revolution in standardization and formalization of value in such commodities. Averno, the first city-state established on the island, is known to have used silver coinage inscribed with images of its leaders, and it is believed that such tradition had spread to all subsequent city-states through settlers.
As the city-states grew more distant, developing partly in isolation due to the island's hostile geography, standards diverged over time, although silver's use as currency remained common across the island. As each city had begun to establish its own mint, weights of coinage organically changed over time. City-states poor in silver would abandon coins entirely, and would use alternatives to represent value. The collectivistic city-state of Morna, established by peasants escaping from debt-slavery they had faced in the other city-states, had famously used small pouches of salt for the sake of trade with the outside world.
The rise in interconnectedness following advancements in shipbuilding and the rise of trade companies would necessitate exchange of coins of various different weights, sizes, and possibly compositions. To avoid issues from arising, traders across the island held onto the principle that silver coins should only be accepted should fall within certain ratios between weight and size, organically leading to the rise of partly standardized silver alloys being used for minting across all connected cities.
The discovery of a number of large, untapped reserves of silver in the mountains of Montesuvia would lead to decades of conflict as city-states fought to enrich themselves and secure their own status. While most would fall to ruin or be subsumed under the rule of their more powerful neighbors, the Unification of La Rossa would secure the status of the surviving victors for centuries to come. While coins continued to be minted locally by regional rulers, agreements would be placed against uncompetitive measures being taken by city-provincial governors, and certain rules of trade were taken as binding for all.
Paper Argotto
The paper argotto arose in the aftermath of the invention of the printing press, created merely a few decades prior to its adoption. By this point, a unified nation had existed and presided over the island uninterrupted for several centuries, and the relations between its cities had moved from mercenary alignments and partnerships to essential ties that defined them. Although a central authority setting rules surrounding the creation of currency was in many ways new (although certain early regulatory authorities had existed already), it was not seen as unusual. The decree of Dux Francesco Buonestrotti di Buglio in 654 TT had thus been easily accepted and was allowed to redefine the island's relation with money. Beginning by establishing the abstract value of a single argotto at ⅛ of an ounce, the currency was allowed to be bought by the island's populace in exchange for old silver coins. While both continued to remain in use, the paper currency was adopted rapidly and soon rose to become the dominant form, owing to its lower weight, easy recognizability and a lack of need for scales and measurements to establish their metallic composition.
Silver Crisis
The Silver Crisis in 1 PC majorly changed the balance the currency had held for centuries prior. The depletion of silver from underneath the mountains of Montesuvia, an event that had for years been predicted, had drastically shaken the government's ability to grow its silver reserves and create new currency. The ensuing shocks through the economy would lead to high rates of unemployment as disruptions led to a number of companies falling underneath the pressure, due to a relation ship with silver as a necessary component of their industrial processes, or having government subsidies for their survival suddenly halted. The minting of new currency had practically stopped overnight, and a program of silver buybacks was quickly established in order to once more stimulate the economy by increasing the nation's stagnant silver reservers by smelting old jewelry, furniture and silverware. The government response was largely unsuccessful in fighting the issues the nation faced and unable to quell the violence that followed. The government would be overthrown in the revolt of La Denunzia, with the new leader, Dux Giulio Falcone, working to limit the symptoms of the underlying crisis through expansive programs of wealth distribution.
Present
The nation would not fully recover from the crisis until the silver standard had been completely abolished in the year 16 PC under Ducissa Alessandra DeGaio. Although the nation had soon experienced a peak in inflation, the sudden inflow of currency had allowed for a revival of the Rossan industrial and business sectors, and the lack of need to keep silver reserves as backing for the currency had allowed their renewed use as industrial goods. Banca Nazionale, a mostly independent agency headquartered in Padeno, has been placed in control of monitoring and controlling the supply of currency in the Rossan market. Despite being under the absolute control of the Dux, it has mostly been kept untouched due to its outsized role in controlling the nation's monetary policy. However, the agency is far from being politically uninfluenced, and Duxes facing tough re-election campaigns have been known to prioritize short-term economic boosts at the price of long-term consequences.
Coins
Prior to 654 TT, coins were minted locally in each the nation's six city-provinces - Buglio, Salino, Mineria, Padeno, Lorma, and Tolia - without much regulation. Before this date, coinage derived its value from its weight in silver, and varied in size across the provinces. After the introduction of the paper banknote, the weight of a silver coin was standardized at a single ounce per coin, and tied to the value of eight argottos. While minting continued to take place locally, and coins continued to bear faces of local nobility, Banca Nazionale would begin to monitor the weight of coinage through regular inspections across the Republic's mints. They would be used concurrently with paper banknotes for several centuries.
After the start of the Silver Crisis, the mintage of coins has been permanently halted, and a majority of coins have been smelted down. A small collection of old coins has been preserved in the Banca Nazionale building in Padeno for archival purposes. While the Rossan government continues its program of exchange of money for silver in a limited capacity, it no longer continues to do so at a fixed rate.
Banknotes
The Rossan argotto banknote was first introduced in 654 TT, and its design has underwent a number of iterations since. The current line was originally released in 22 PC in an attempt to reimagine the country in a more popular direction in the years after La Denunzia, although it has been updated in 53 PC to reflect the Rossan Opening. The obverse side of the six lowest denominations features iconic landmarks across the nation's six composing city-provinces, as well as a consequential Dux hailing from the province. The highest denomination, the mille, is meant to represent the entire nation of La Rossa, and displays the redbell flower, which has become a point of national pride in the years after the Calming. The reverse side features the stylized value of the banknote, written down using the octal Rossan numeral system.
| Denomination | Nickname | Obverse | Reverse | Depicted |
|---|---|---|---|---|
| One argotto |  |
 |
Giuseppe Giannone di Salino Tower of Salino | |
| Eight argotto | Moneta di carta | TBA | |
Giulio Falcone |
| Sixteen argotto | TBA |  |
TBA | |
| Thirty-two argotto |  |
 |
Leo Minestrici di Mineria Minerian Stone | |
| Sixty-four argotto | Cento | TBA |  |
TBA |
| Two hundred fifty-six argotto | Mezzo Mille | TBA |  |
Francesco Buonestrotti di Buglio |
| Five hundred and twelve argotto | Mille |  |
 |
Redbell flower La Rossa |
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