Wheeling majority. [volume] (Wheeling, W. Va.) 1907-192?, 1913-10-02
Physiocratic Money.
The Reform Money Of Silnc GeseI
BY Dr.. Carl F M. Sandberg

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/ 1. Money loses its capital character.
istic and Is lowered to the rank OF
lgoods and labor. :
2. Immediate exchange of all OBJ
tanned superfuous money for products.
houses, ETC., without. consideration of
its ability to draw interest (surplus
Value).
8. Immediate and permanent abol-
ishment of unemployment, emancipa-
tion of the labor reserve army
f. Gradual lowering of the interest
on capital (surplus value) by interna-
tional- Introduction of the physiecratic
money reform up to complete elimina-
ton of interest:
5. Gradual increase in wages up to
full, doing away with the surplus value.
Aside from the ground tax dealt with
by our (Gesell's) great land property
reform.
6. Increased facility for saving by
| liberation from the present interest
burden of capital, by undisturbed pro-
duction and trade, and by a 90 re-
duceion of trade profit (which today
alone swallows 30-40 per cent Of the
product of labor.
He states that the amout of money
shall be regulated according to the
demand so as to keep prices stable,
but does not state specifically how it
will be put into circulation or regulat-
ed.
More and more people in different
countries are coming to Relation
of the fact that the arrangement of
the financial system is the fundamen-
tai cause of the social Injustice and
perverSion, that more and more loudly
cries for a remedy. The proposition
of Gesen is one more expression of
this fact, towards which each new
scheme brings us a little nearer, throws
some additional light.
Gesell very clearly sees the diffic
ties caused by the triple quality Il
money: l. AS a medium of eXchaJ !:
2. AS wealth; 8, as wealth earnerJ al
proposes the Introduction of nj "
that shall be a medium of exchauEe
only without the qualities of wealth
and wealth Garner. !
1t would be well If we could all rea-
lie that the only function of money
is as a medium Of exchange, and that
the more we clothe it with the quail
ties of wealth and wealth Garner the
less it is adapted as medium of ex-
change. AS a matter of education the |
writings and schemes of Gesell are
therefore very valuable, but / think |
he has failed to realize that the faults |
he points out simply are the unavoid- |
able effects of other and fundamental |
ones.
Money in its final analysis is nothing
but an accounting, an evidence of debt |
between two parties. Any two private |
parties may agree upon any form of |
evidence for a private debt Ia private |
money!, BUT THE ONLY POWER TO |
ISSUE PUBLIC EVIDENCES OF |
DEBT (PUBL1C MONEY! MUST BE |
THE POWER THAT REPRESENTS |
ALL, THE GOVERNMENT, AND THE |
ONLY THING FOR WHICH SUCH
PUBLIC EVIDENCES OF DEBT CAN |
BE GIVEN MUST BE WORK PER |
FORMED FOR THE GOVERNMENT. |
These two requirements are indispen- i,
sable as the foundation of a sound |
financial system and it is the ignoring |
of them by suffering private persons to
issue such public evidences of. debt, |
and by allowing public evidences of |
debt to be issued on the basis of prl-
vate property without the performance
of any work for the government which /
causes all the defects in the financial
system and all the social perversion.
No matter how many reforms you
make as long as you leave the public I
structure resting on faulty financial
foundation there will be no material |
change. This criticism also applies
to Gesell,s scheme, it patches the
but leaves it. on the
faulty foundation.
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