[HPforGrownups] Money issues

[manawydan]

No: HPFGUIDX 59044

Ray wrote
> Since there are bank vaults with physical coins, I suspect that the WW
banks
> (if there *is* any bank besides Gingott's) work on the system that their
> service is storage only.  No interest, no paper money, and no checks as we
> understand them.  Under the proper circumstances, however, they will honor
a written
> authorization to "remove money from my vault and pay it to" a specified
person.
>  Theoretically, Gringott's has methods of authenticating such a document.

The only help we have from the books on this is that we know that Gringotts
employ one of the Weasleys as a curse breaker. What that suggests to me is
that they are constantly on the look out for gold and/or other precious
metals. If the crucial thing about the bank is that you get magical interest
on your deposit then it could explain why they are so keen to get more
specie - because coin is the only form of money in the WW, there is no
paper, cheques, etc as you rightly say.

Magical interest is also a useful device to explain things like Harry's
inheritance, where Hogwarts gets its running costs, where Lucius Malfoy gets
the family fortune, and so on!

> Also, IMNSHO, JKR may simply be too unsure of her economics to try to make
a
> point of how wealth and poverty works in the WW.  Note that, in the scene

Only to highlight that it exists - there are several references for example
to how low wages are in the MoM.

> where Harry meets Draco Malfoy in PS/SS, they are buying custom-fitted
robes, but
> no mention is made of payment.  Are the robes part of the school tuition,
or
> did JKR simply not want to make up a figure for the cost?  Arthur and
Molly

One thought that has crossed my mind is what happens when the Muggle parents
of a potential Hogwarts student are truly on the breadline and unable even
to get their child to Kings Cross station, leave alone buy all the books,
robes, accessories, and so on? (I'm thinking not even of someone like
Colin's dad, who is working though on a low wage, but let's say a single
parent on Income Support) My (entirely non-canonical) suggestion is that the
parent just doesn't get a letter.

Cheers

Ffred

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