The herald., 1896-02-18
The Labor Exchange Idea

The Labor Exchange Idea
| EDITOR HERALD:-The existence oi
| thirty-four branches of the Labor exchange
| in California, as we'll as numerous ones in
almost every other state in the Union, not
to mention England, Australia, New Xea-
land, etc., seem to call for brief ex-
PLANTATION of what this modest, unassuming
industrial factor is upon which some of our
people appear willing to stake 80 much.
Mainly the Labor exchange is a new sys-
tenn of money, that by virtue of its sim
plicity, utility and stability is intended to
take the place OF legal tender money.
Without giving the argument in detail, in
short it is that any kind of money is good
that will procure goods. necessaries and
luxuries of life; wealth. Starting with
this idea, the Labor exchange opens de-
pository where everything of value may be
sold and paid for with labor certificates; !;
said valuables to be retailed to the public,
being paid for by these same certificates.
In this way they propose to do business
without waiting until the money monger
been an unlimited demand for things to
use, enjoy and consume, and .pari
passu, there always have been
countless numbers of men and
workmen able and willing to create these
things why then has not the demand been
Supplleu. because, uIlQer Tue OperatlOu
of the old industrial and financial system
it was impossible for the producers to en-
ploy themselves. and so they remained idle,
leaving the natural demand unsatisfied.
The new medium of exchange supplies the
capital by which workers put themselves
to work and by the possession of which
the masses become purchasers This COM
pletes The circuit, bringing the producer
and the consumer in direct connection.
The natural demand each one OF us has
tor board. clothing, books. travel etc. may
now be 50 j fed. not remaining merely iu-
effectual Is formerly, and 20 that the
worker may safely 60 to work, knowing
the wares he makes can be sold. As all
manner of things are made and sold at the
depository, outside people take these labor
checks on par With legal tender, for they
will buy as much. Cooperative production
is thus Immensely facilitated and the num-
Der of such enterprises constantly spring
ing up shows how quickly the merits
of this new financial system have been
realized by the producing classes. Put men
to work and the results of their labor are
just the same, whether they be paiu in gold
or labor certificates. Then, il wealth can
be made for this new money and bought
by 1t, The money question is solved. No
checks are ever issued except for value,
such value being ascertained exactly as it
would be done by any successful business
man. These checks pass from hand to
hand with similar results as though they
we're legal tender. and when they are
finally presen ed at the depository for
goods, they are cancelled. new ones being
issued for new wealth. Thus is automat-
ically regulated the amount of money
necessary to do business. Imitation, con-
traction and speculation on the medium of
exchange becomes an impossibility, and
the easy flow of production and distrbu-
ton is therefore uninterrupted. Interest.
as we know 1t today, will be unknown. The
labor exchange has made no noise, but has
established self in our midst and invites
honest criticism. W. c. B. RANDOLPH.