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Imperial Bourse
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===Proxies===
===Proxies===
Any member of the Bourse, may appoint a [[proxy]]. It is not uncommon for Bourse members to auction the right to stand as their proxy to another party - as this allows the proxy to bid in the private auction.
The only powers a Bourse title holder has at a summit is attendance at the Private Auction, however they may appoint a [[proxy]] to attend.


==History==
==History==

Revision as of 16:02, 3 June 2016

Lorenzo La Volpe, Master of the Butchers Bank, Founder of the League Trading Company, and Bourseholder of the Fortress of Salt Mithril mines, concludes a deal with Richard Tunstall, Imperial Master of Works, to improve the fortifications of the Empire.
Resources are available to those who can afford them.

Overview

The Imperial Bourse is the economic hub of the Empire. Its role is to ensure the prosperity of the Empire and to provide access to much needed resources to those who can afford them.

Role within the Empire

The Bourse is designed to ensure that ilium, mithril, weirwood and white granite are directed to where they can provide the most economic benefit, rather than being assigned by political or military patronage. Merchants bid for a position on the Bourse and those that are successful gain control of one of the Bourse positions that control production. It is then left to them to sell the resources at whatever price they can. Although there are frequent accusations of profiteering, when the market functions as intended it ensures that significant sums of money are paid to the Bourse for use by the Empire.

Decisions within the Bourse are taken by auction, with members placing money in the Bourse coffers to register their support for or against a motion. Such auctions are rare however, most of the Bourse activity is economic in nature and takes place without central organisation. The money collected by the Bourse, as part of the process of selecting members and making decisions becomes the property of the Empire.

The Bourse has gained two other roles over the years, operating the public and private auctions. The public auction is open to anyone present; most goods sold are herbs, mana crystals, resources, building materials and occasionally even Ilium are sent to the Bourse by Imperial citizens who want a good price for their goods but have neither the inclination nor the time to attend the meetings at Anvil. The private auction is for Bourse members only and sells rare and unique items that agents of the Bourse have sourced from across the Empire and the World.

Entry requirements

There are over a score of different Bourse positions, the majority of which are auctioned off once a year. Although a citizen may bid for as many positions as they choose, an individual can only hold one Imperial title. The auction itself uses an open bidding system and payments must be made immediately.

There are a handful of Bourse positions which are not auctioned off. These positions reflect the relative economic wealth and priorities of nations like Varushka. As a result these resources are controlled by vote of members of that nation based on what resources they control. These positions are identified separately below.

You can find details of who holds which seat here.

Elections and Appointments

During each season, all the Bourse Seats (both Imperial and National) that produce a single material are re-elected or re-appointed. During the event that a seat is due to be re-elected, the current holder does not receive any materials. Once the seat has been re-elected, the new holder receives that season's production, and secures the production until the next time the seat is due to be re-elected.

  • Weirwood seats are re-elected at the Winter Solstice.
  • Ilium seats and the Master of the Imperial Mint are re-elected at the Spring Equinox.
  • White Granite seats are re-elected at the Summer Solstice.
  • Mithril seats are re-elected at the Autumn Equinox.

Losing the title

What happens when a Bourse seat loses their title depends on how they lost it.

  • If the holder of a Bourse seat dies, the seat is re-auctioned (or appointed). The new holder of the seat does not receive any wains or rings of ilium until the start of the next event. The money raised by the auction (if any) becomes part of the estate of the dead character, and the Magistrates do their best to ensure that money goes to the seat's beneficiaries.
  • If the holder of a Bourse seat resigns their position, the seat is also re-auctioned (or appointed). Again, the new holder of the seat does not receive any wains or rings until the next event. The money raised in the auction is paid to the character who resigned their seat.
  • If the holder of a Bourse seat receives a Writ of Excommunication, they are stripped of their Bourse seat. It is re-elected (or appointed), and the money raised is claimed by the Imperial Synod.
  • The holder of a Bourse seat cannot be revoked by the Imperial Synod.

In all cases, the money initially paid for a seat remains as part of the annual budget of the Imperial Senate.

Proxies

The only powers a Bourse title holder has at a summit is attendance at the Private Auction, however they may appoint a proxy to attend.

History

Mithril, weirwood and white granite are essential to the prosperity of the Empire and its citizens. Deposits of these materials tend to be large but few in number so they are carefully protected. Ilium is also rare and almost priceless due to its arcane powers. When the Empire was formed control of key supplies of these materials was placed in the control of the Bourse; it was explicitly designed to keep control of these precious materials out of the direct control of the Empress and the Senate.

Over time the role of the Bourse has grown, its members instituted a private auction to give them access to some of the most valuable items in the Empire. This was so successful it was eventually copied and a second public auction was introduced to allow citizens of the Empire to sell basic goods at the Bourse.

Powers and functions

Control of Ilium and Building Materials

Mithril, weirwood and white granite are essential to upgrade a personal resource to make it more productive. They are also needed for the large projects authorized by the Senate such as the creation of new armies or the building of bridges and fortifications. Ilium is used by artisans and magicians to make rituals and enchantments permanent. Each Bourse member has control of a single resource, for a single year (unless they are replacing an existing position which has become vacant). They can dispense this resource as they choose.

Access to the Private Auction

The Bourse holds a single private auction, only Bourse members can attend and bid on the items auctioned. Bourse agents scour the Empire and the world looking for rare and potentially valuable items to bring them to the Bourse where they are auctioned off to the highest bidder. Details of the handful of lots are usually posted in the Bourse several hours before the auction begins.

Operation of the Public Auction

Although not formally one of the powers of the Bourse, the public auction takes place in the Bourse and is operated by the civil servants who run the Bourse. The auction is open to all and supplies of herbs, mana crystals, resources, minor magical items and small lots of weirwood, mithril and white granite are auctioned to the highest bidder. It is relatively rare, but not unknown for more valuable items like Ilium, true liao or powerful items to appear in the public auction. Details of the lots are posted in the Bourse one hour before the auction begins.

Auction of Appointments

Over the years the Bourse has helped to create various minor Imperial positions and officers to help the Empire function. Individuals are appointed to these positions by auction - Bourse members commit funds in support of their preferred candidate. The candidate that receives the most support is appointed - and all bids by their supporters become the property of the state.

Imperial and National Bourse Positions

Imperial Seats on the Bourse are assigned to the highest bidder. These positions are available to any citizen of the Empire who does not already control an Imperial title or position. This means that members of the Synod, military or senate can bid for one of these Imperial Bourse position, but must resign their position if they are successful.

National Seats on the Bourse, by contrast, can only be filled by a citizen of the appropriate nation. In addition they are not auctioned off, as Imperial Bourse positions are, but voted upon by resource owners from that nation. The larger the personal holding an individual has, the more votes they can allocate in support to a candidate. The voting for national Bourse positions is handled by the civil servants in the Bourse. National Bourse positions are otherwise identical to Imperial Bourse positions.

Mithril Seats

All mithril seats are re-elected during the Autumn Equinox.

Imperial Mithril Seats

There are currently five Imperial Bourse Seats that produce mithril. One of the Seats (the Great Pits of Ennerlund) is not currently producing mithril, having been collapsed by the Druj barbarians.

National Mithril Seats

There are two National Bourse Seats that produce mithril, although one (the Legacy) is currently in the hands of barbarians.

  • The Eternal Shafts of Time in Karov produce 27 Imperial wains of mithril each season. Control of the Shafts is assigned to whichever Varushkan candidate receives the most support from Varushkan owners of mine resources.
  • The Legacy in Spiral produced 22 Imperial wains of mithril each season. The Legacy was assigned to whichever Urizen candidate receives the most support from Urizen owners of mana sites. It is currently in the hands of the Grendel and is neither allocated, nor producing mithril for the Empire.

Weirwood Seats

All weirwood seats are re-elected during the Winter Solstice.

Imperial Weirwood Seats

There are six Imperial seats that produce weirwood. One of the seats (the Great Forest at Reikos) is currently not in Imperial hands, and might be reassigned as a National resource when it is liberated.

National Weirwood Seats

There is currently only one National weirwood Bourse Seat.

  • The Thimble in Therunin produces 24 Imperial wains of weirwood each season. Control of the Thimble is assigned to whichever Navarr candidate receives the most support from Navarr owners of herb gardens.

White Granite Seats

All White Granite Seats are auctioned or appointed during the Summer Solstice.

Imperial White Granite Seats

There are four Imperial Seats that produce white granite:

National White Granite Seats

There are three Nation Seats that produce white granite.

  • The Granites of Veltsgorsk in Volodmartz produce 26 Imperial wains of white granite every season. Control of Veltsgorsk is assigned to whichever Varushkan candidate receives the most support from Varushkan owners of forest resources.
  • The Brilliant Shore in Skarsind produces 26 Imperial wains of white granite every season. While control of the Shore was previously assigned to whichever Wintermark candidate received the most support from Wintermark owners of military units, the reassignment of Skarsind has left its status confused.
  • The Vigilant Swan in Reikos produces 25 Imperial wains of white granite every season. Control of the Vigilant Swan is assigned to whichever Highborn candidate receives the most support from Highborn owners of congregations.

Ilium Seats

All ilium seats are re-elected during the Spring Equinox.

Imperial Ilium Seats

There are two Imperial Seats that produce ilium.

National Ilium Seats

While in theory there are four National ilium Bourse seats, the Stonefield Ice Caves has been ceded to the Thule and is not in Imperial hands. All ilium seats are re-appointed during the Spring Equinox. Bourse seats that are allocated on the basis of raids conducted by military units, privateering by fleets, or similar are based on the total effective size of all the contributing resources over the last four seasons.

  • The Steel Fist provides 8 rings of ilium each season. it is appointed by the Imperial orc legions who provide assistance to Imperial armies on campaign.
  • The Broken Shore Bounty provides 7 rings of ilium each season. It is appointed by the Freeborn fleet captains who engage in privateering in the Bay of Catazaar..
  • The Regario Dossier provides 4 rings of ilium each season, along with an annual report relating to the activities of foreign powers. It is reserved for the League citizen who presents the largest bid.
  • The Stonefield Ice Caves provided 5 rings of ilium each season. It was allocated to whichever Wintermark military unit performed the biggest raid against the barbarian orcs. The Stonefield Ice Caves are not currently in Imperial Hands, having been ceded to the Thule.

Other Bourse Seats

These appointments come with a Seat on the Bourse, but are not tied directly to the production of mithril, weirwood, white granite, or ilium.

The Master of The Imperial Mint

The Master of the Imperial Mint is a Bourse Seat reserved for the citizen of the League who presents the largest bid. The Master does not receive an income of Bourse resources, but is privy to privileged information about the Imperial economy and has powers to speak and address the Imperial Senate.

Castellan of Spiral Castle

Until 368YE, the Castellan of Spiral Castle is a Bourse Seat held by a [{Dawn|Dawnish]] citizen, appointed with the support of Dawnish military units. The Castellan has powers to order the resupply of Imperial armies stationed in Weirwater. The Seat spent many years vacant, but a new Castellan has recently been appointed following the return of Castle Spiral to the mortal world.

Other Titles

A number of other titles are also appointed through the Bourse. Any title that has economic power or responsibilities is likely to be bound to the Bourse. Unless the position includes administration of a supply of mithril, weirwood, white granite, or ilium however it does not bring with it a seat on the Bourse or access to the private auction. The appointment of all these titles is organised and processed by the civil servants attached to the Bourse.

A list of other titles bound to the Imperial Bourse can be found here

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