“They’d have to sell them for less than the price charged at the National Stores, and if you think about it a little you’ll see that it would not be very profitable. It would be with the object of preventing any attempts at private trading that the Administration would refuse to pay compensation to private owners in a lump sum. All such compensations would be paid, as I said, in the form of a pension of so much per year.
“Another very effective way to prevent private trading would be to make it a criminal offence against the well-being of the community. At present many forms of business are illegal unless you take out a licence; under Socialism no one would be allowed to trade without a licence, and no licences would be issued.”
“Wouldn’t a man be allowed to save up his money if he wanted to,” demanded Slyme with indignation.
“There will be nothing to prevent a man going without some of the things he might have if he is foolish enough to do so, but he would never be able to save up enough to avoid doing his share of useful service. Besides, what need would there be for anyone to save? One’s old age would be provided for. No one could ever be out of employment. If one was ill the State hospitals and Medical Service would be free. As for one’s children, they would attend the State Free Schools and Colleges and when of age they would enter the State Service, their futures provided for. Can you tell us why anyone would need or wish to save?”
Slyme couldn’t.
“Are there any more questions?” demanded Philpot.
“While we are speaking of money,” added Barrington, “I should like to remind you that even under the present system there are many things which cost money to maintain, that we enjoy without having to pay for directly. The public roads and pavements cost money to make and maintain and light. So do the parks, museums and bridges. But they are free to all. Under a Socialist Administration this principle will be extended—in addition to the free services we enjoy now we shall then maintain the trains and railways for the use of the public, free. And as time goes on, this method of doing business will be adopted in many other directions.”
“I’ve read somewhere,” said Harlow, “that whenever a Government in any country has started issuing paper money it has always led to bankruptcy. How do you know that the same thing would not happen under a Socialist Administration?”
“’Ear, ’ear,” said Crass. “I was just goin’ to say the same thing.”
“If the Government of a country began to issue large amounts of paper money under the present system,” Barrington replied, “it would inevitably lead to bankruptcy, for the simple reason that paper money under the present system—bank-notes, bank drafts, postal orders, cheques or any other form—is merely a printed promise to pay the amount—in gold or silver—on demand or at a certain date. Under the present system if a Government issues more paper money than it possesses gold and silver to redeem, it is of course bankrupt. But the paper money that will be issued under a Socialist Administration will not be a promise to pay in gold or silver on demand or at any time. It will be a promise to supply commodities to the amount specified on the note, and as there could be no dearth of those things there could be no possibility of bankruptcy.”