The editor is in thorough accord with the collectivists, whether they be known as socialists, nationalists or co-operators, in so far as they advocate the public ownership of monopolies. The people should own and operate the railroads, the telegraph, the telephone, etc., as they already own the post-office. The people should also own and operate the street railroads, water-works, gas-works, electric light plants, etc. The notorious corruption of our law-making bodies is due almost wholly to their power to grant special privileges and to sell public franchises to private individuals or corporations. Legislative reform that ignores the cause of corruption is never remedial and seldom even palliative. Public ownership of natural monopolies will abolish the bribe-taker by making impossible the bribe-giver.
The editor believes also that it is the duty of the government to provide for every citizen willing to work full and free opportunity to earn a livelihood, and therefore advocates government employment for the unemployed.
The editor further believes that reforms in these directions can only be accomplished by direct legislation, and a special chapter is therefore devoted to that subject.
The problem which now presses most persistently for immediate solution is that of money. The crying need of the hour is to provide work for the unemployed. Tinkering with the tariff will not do this, because you cannot make a people prosperous by taxation. You can set the wheels of industry in motion, however, by putting money in circulation.
And what is money?
Money is the public credit, stamped or imprinted upon, or represented by, metal, paper, or any other convenient substance recognized by law or usage, and employed as a medium of exchange and a measure of values.
Money is money only so long and in so far as it represents the public credit. Moses, as well as the early fathers of the Christian Church, undoubtedly adopted this view of money when they denounced usury, which is the device whereby the drones in humanity’s bee-hive, monopolizing the public credit, have in all ages exacted tribute from the workers.
We have seen what money is. Now let us see how we can best circulate it.
Suppose that this country were governed by a czar, an autocrat, with absolute power to make what laws he pleased for the government of his people. Suppose this autocrat should issue an order increasing the standing army to one million men, these one million men to be armed, not with muskets and swords, but with pickaxes, shovels, etc., and to be set to work improving roads, reclaiming desert and waste lands, etc. Suppose these men were paid $1.50 a day in money issued for that purpose by the government. What would be the result?
One million of men would be taken from the overcrowded labor market, and at the end of each week nine million dollars would be put in circulation.