The independent., 1903-11-12
A MONEY SYSTEM.

MONEI DI ~ I'M.
Editor Independent: | desire to out
line, very briefly, a monetary system
which, in my opinion, harmonizes
with the principles advocated by sin
gle takers, meets the requirements
urged by populists and conforms to
the democratic mould of our govern
ment.
Single taxers-of which | am one
seldom concern themselves in public
print with the much-mooted money
question:" considering 1t subordinate
to the greater subject of land monop-
ely and, monstrous rs it Is defcrring
its solution to the time when, in an
atmosphere unpolluted by special
privilege, clearer view Of its natural
relationship to the social organism
can be obtained. But by pointing out,
however crudely, how much the es-
tablishment of correct monetary sys-
tenn depends upon the institution of
fundamental reforms, we may succeed
in diverting the energies now useless
ly expended on the former into an ac-
complishment of the latter.
Money" is but an attribute of gov
e. 1ment, an organ Of the national
body whose proper functions are
properly performed only when that
body Is in state of health. This we
know is not the case with our gov
ernmeDt today, and any attempt to
graft upon it sound limb would re-
suit in death or disease to the limb
without improvement to the body.
Public service Is the cause of mon
ey. Were all governmental services
to be performed gratis we would not
need "money"-hence its only func-
tion is the payment of public ser
wants.
The need admitted, however. we
must next ascertain how it is to be
met. Evidently this can be done only
by levy upon the wealth of the citi-
zen, but in What proportion?
1t is automatic that taxes should
be levied in direct proportion to the
benefits received" and it is main
tanned by single takers, without sue
cessful refutation, that the benefits of
government are exactly measured by
the rental values of land.
Here, then, is the foundation Of a
monetary system. The rest is de-
tail. The counties being the smallest
assessing divisions of the state become
the unit. Their land values are ascer-
tained and reported to the state,
which, in turn, reports the whole
amount within it's border to the ma
tfon. Money" Is then issued for this
amount and returned to the states
which distribute 1t proportionately
among the counties. where it is paid
cnt for public services. State appro-
priations would be met by a levy
against the funds of the county in
proportion to their land value assess
ments. and national appropriations
would be levied against the states in
proportion to the entire land value
assessments OF the counties of the
state.
Primarily this money" would be
simnlv a public order against the
beneficiaries OF government for GER
tain amount OF wealth owing the
holder for services rendered. or no
intrinsic" value, II should neverthe-
less be standardized by fixed relation
to some form Of wealth bearing
uniform relation to all other forms Of
wealth. and made 'lcral tender" by
being stamped Receivable hy the gov
srnment in iiou or whatever guam
tItv or quality OF the standard II rep
resented.
A study of tho application and ef-
feets Of this nlan. In minute detail.
will demonstrate 10 any careful
thlnter how thorourhly II conforms
to the requirements ~ Just and nat
ursl government. u. O. BAILEY.
Central City. Colo.