Monday, October 5, 2009

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

"just balances, just weights" (Lev. 19:35-36) - the whole total of the true_wealth of the confederation as security - full monetary security - equitable backing of the whole common_wealth -- employment of an entirely new form of "money" which cannot be used for anything except simple exchange (and which can only be the servant of the people; not their master, as today) as a limited "commodity", having value in itself - its limitation often causes a glut of goods made for our use but remaining unsold through lack of purchasing power in the hands of the people - to remedy this a full supply of money should always be put into circulation so that every available product and service can be utilized unhampered - the money thus issued must also be in the form of "permits to purchase", or "tokens of exchange", having absolutely no value in themselves (ie., ration coupons) - these, although essential for the purpose to which they are applied, are valueless in themselves; and, when used, they become virtually so much waste paper - furthermore, it they are still unused at the time of their expiry date they become equally valueless and useless, more coupons then being issued freely to the holder to cover a man's necessities during the ensuing period - the issue and control must be solely by the community as authoritative permits to all lawful citizens for the purchase of the communities goods and services - the community to ensure that enough of this token-money is issued weekly or monthly and put into circulation to meet every communitarian or individual need, and to enable all goods on the market to become completely absorbed by the public without waste or loss.

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