State Treasury

Day 85, 00:00 • Published in Hungary Hungary • by Imre Barbarossza

Yesterday I mentioned the idea of the 'National Treasury'. Here are the details:

First of all, this would be organisational entity (described in the article: http://www.erepublik.com/article-54031.html). I would invite a 'user' functioning as the Treasury. Naturally, in case of government change the password will be handed over to the new government.
Its food supply - some kind of administrative fee - would be deducted from the country's account.

The function: the Trasury would be founded to help the government giving aids to companies on a transparent way. It could help us to avoid situations like the gold embezzlement from Hungary's account.

The way of operation: The grounds of the Treasury are similar to a national bank (see article: http://www.erepublik.com/article-2344.html) except for one thing. It would be a state organ not a bank. It would not give loans but non-repayable aids to companies and private individuals. In order to make the money flow transparent the Treasury would have its own newspaper where the government would place tenders and laws. If you match the criteria you could apply for it either publicly (by a comment on the article) or privately (sending a message to the Treasury). This is an open question. I am not a businessman so I need your opinion: make the tender system fully transparent with a public apply system or preserve business secrets with a private apply system?
Either method would be chosen at the en😛 the government would select a winner and publish in this newspaper. It shouldn't be a stand-alone decision of the president but the joint one of the whole govenment.
Another part: when the winner will have done his investment he will have to write into this newspaper on what he achieved. This would make easier for every citizen to follow the way of the country's money.

Now the technical part: In order to give the aid to the winner the money must be transferred from the country's account to the Trasury at first. It will be done through the monetary market with a one time transaction at a very low exchange rate. Then the money will appear on the Treasury's account and can be simply donated to the applicant.
There is one strict restricion: the Treasury must have some reserves on its account to make transactions possible. But it would be in opposition of transparency if it could be used for holding money on it, therefore it won't be allowed to store gold on its account and it can have only a small amount of HUF also.

So, these would be the major charateristics of the Treasury. If it is founded, firstly I will invest in the gift industry to make new workplaces and also will introduce an unemplyment-aid to help people having difficult situation.

Finally, I ask you to give me some information:
1. Do you agree with this whole idea?
2. Public or private application system should be introduced?
3. If you have any idea ho to develop the idea even more, please write down as a comment.

Because the country is in a difficult situation, but I don't want to deprive you from having a word in the country's business I give you a day for a public discussion of this idea. If there will be no reaction or you support it the Trasury will start its work tomorrow afternoon.

Imre Barbarossza