“And if there is no will?”
“That never happens, for it is compulsory to make a will immediately upon becoming a State shareholder. Of course, if we wish the value of our Bond to revert to the State, we name the State as our legatee, and we are at liberty to alter our will whenever we please.”
“You seem to have no money here, other than the all-pervading silver unit. Is this your standard of value in all monetary transactions?”
“Yes; the unit pervades every business transaction, if not practically, at least theoretically. But it is seldom used to pay large amounts with; a paper currency serving our purposes much better than metal coinage would do.”
“Are private banks for business houses allowed to issue paper money?”
“No, none but State coupons are permitted to be issued.”
“Now, just one more question, and then I have finished. I am told that the State is the ultimate receiver of all manufactured goods, which may neither be retailed nor exported without first yielding the imposed percentage. Is it not possible for a group of speculators to force prices up, either by buying a vast quantity of goods from the manufacturers, and selling at their own price to the State; or, more probable, could they not buy in large quantities from the State, and retail at their own prices to the public?”
“Certainly not. The State would not deal with them. Nor would it permit any increase of prices not necessitated by the legitimate exigencies of trade. Speculators of the class to which you allude would find a sorry field for their operations here.”
I could not complain of the amount of information I had obtained from John Saville; but I should probably have been still further enlightened had not our hostess come to claim our attention in different directions. But before saying farewell for the night, he asked me to visit his parents on the day following, and promised me a little enlightenment concerning some domestic arrangements in which I was interested.