The Merchant States of North Covenant is a gargantuan, cultured nation, ruled by Thoreau with an even hand, and notable for its unlimited-speed roads, free-roaming dinosaurs, and soft-spoken computers. The hard-nosed, humorless population of 11.812 billion Covenetians have some civil rights, but not too many, enjoy the freedom to spend their money however they like, to a point, and take part in free and open elections, although not too often.

The tiny, corrupt government juggles the competing demands of Education, Defense, and Industry. It meets to discuss matters of state in the capital city of Restin. The average income tax rate is 6.0%, but much higher for the wealthy.

The frighteningly efficient Covenetian economy, worth a remarkable 2,768 trillion Holds a year, is driven entirely by a combination of government and state-owned industry, with private enterprise illegal. However, for those in the know, there is a large, well-organized, broadly diversified black market in Information Technology, Arms Manufacturing, Book Publishing, and Furniture Restoration. The private sector mostly consists of enterprising ten-year-olds selling lemonade on the sidewalk, but the government is looking at stamping this out. Average income is an amazing 234,374 Holds, and distributed extremely evenly, with little difference between the richest and poorest citizens.

The police go to great efforts to seize contraband favored by politicians on the police oversight committee, computers have been put in control of the economy to keep computers from controlling the economy, war criminals are given full state funerals, and what happens in court stays in court. Crime is a problem, perhaps because of the country's complete lack of prisons. North Covenant's national animal is the Whale, which is also the nation's favorite main course, and its national religion is The Covenantian Pantheon.

North Covenant is ranked 17,341^st in the world and 2^nd in The Charter for Largest Insurance Industry, scoring 5,404.45 on the Risk Expulsion Effectiveness Rating.