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<p>[QUOTE=&quot;GDJMSP, post: 1971483, member: 112&quot;]Of course the VOC is a sufficient authority, they were <u>the</u> monetary authority in Indonesia, even had their own mint and issued their own coins.</p><p><br /></p><p>Local or regional banks ? For me that would depend on it they had monetary authority or not given to them by the ruling govt. If they did, sure. If they didn&#039;t, then no.</p><p><br /></p><p>edit - Depending on where and when it used to be commonplace for the ruling govt. to hand out or even sell monetary authority and usually minting rights to various individuals and even entities. But they were always subject to the rules, laws, and regulations regarding currency established by that govt. And once done they could mint their own coins of their own denominations. And if they chose to do so they could countermark currency from other nations, cities, states, even Bishoprics and sometimes monasteries. Or they could just refuse to accept any currency but their own.</p><p><br /></p><p>Monetary authority was a very valuable thing and often provided a huge source of income not only for the person who bought it or was given it, but for the entire region where it was established. It was a vital part of the local economy.[/QUOTE]</p><p><br /></p>

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