Since the day the Iberian-Apennine Common Market was established, Joseph has wanted to create an international trade settlement system based on the franc.
In the early 19th century, the international payment methods used by European countries were very primitive, namely, bills of exchange.
For example, if merchant A in France wants to pay merchant B in Naples, he must first apply for a bill of exchange at a bank in France and pay in cash.
After that, the bank will send this bill of exchange to a bank in Naples with which it has a business partnership. Usually, the bill will state "payable 30 days after sight," while some small banks state "payable 50 days after sight."
When B receives the bill of exchange, if he doesn't want to wait the full 30 days, he can only seek out a local bank to mortgage the bill in exchange for cash. Of course, this process incurs a "discount," similar to a handling fee.
