Monday, October 5, 2009

Monetary Reform - Need and Method (excerpt 1 (1939)) con't

a new wage system - every employer to issue a weekly payment certificate both to himself and to his workers in proportion to the hours worked or the work done - every man would then take this certificate to the local money-issue office, receiving a weekly book or supply of money coupons -- if, six months later, the total communitarian production figure had increased materially, the community would then authorize the issue of money coupons to an increased wage rate per hour - in this way the money issue could always be kept on a level with the goods and services available at any particular time - any person who was a good citizen and engaged in any kind of bona fide work for the well_being of the community would be recognized and given a certificate to draw his weekly or monthly money-issue, no matter what his call or vocation in life might be - if a man is faithfully serving the community in any capacity at all he should be entitled to his share of the communities production of goods, at whatever rate that service might be deemed to be worth - some people manufacture goods, some people produce services, some write poetry, some can serve in artistic beauties; no matter what the labor may be, if it is a service which others want and appreciate, then it is a contribution towards the whole, and should receive a proportionate share of the whole -- a further outworking of this system would be as follows: the wage-earner would spend his coupon-money in the shops; then the latter would add up their total weekly receipts of coupons, which were worth x-amount before spending, but would now be only so much useless paper - the shop-keeper would go to the money-office with the now-useless paper and ask for a re-issue of a similar amount of new valid money-coupons wherewith to buy his further goods for sale and trade.

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