Twentieth Century Socialism What It is Not What It is How It May Come

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So long as the currency used in exchanging necessaries and comforts is rescued from the control of financiers, it is a matter of comparative indifference whether the financiers control the currency used in the manufacture and dis- tribution of luxuries, for such control will have practically no effect upon the things necessary to human existence.
It will give to the state the use of the gold coin which is now accumulated in its treasury for the redemption of its notes; and the state will use th
...is large gold fund for the purchase of the products of other nations. I Let us see how this proposed system of store notes will work in a given manufacture: The state will order the steel guild to manufacture thirty million tons of pig iron (the amount produced in 1907 was a little over twenty-six millions) ; and will allot to the steel guild for the supply of steel six hundred and and sixty milhon dollars in store notes, this being calcu- lated at the rate of $20 a ton. (The price in 1907 was a little over $22.

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