A Joy For Ever (and Its Price in the Market)Ruskin, John
Philosophy
A Joy For Ever (and Its Price in the Market)
Ruskin, John
Art
149. Again, supposing a certain number of the men so cast ashore were
set aside by lot, or any other convention, to do the rougher labour
necessary for the whole society, they themselves being maintained by the
daily allotment of a certain quantity of food, clothing, etc. Then, if
it were agreed that the stones spotted with red should be signs of a
Government order for the labour of these men; and that any person
presenting a spotted stone at the office of the labourers, should be
entitled to a man's work for a week or a day, the red stones would be
money; and might--probably would--immediately pass current in the island
for as much food, or clothing, or iron, or any other article, as a man's
work for the period secured by the stone was worth. But if the
Government issued so many spotted stones that it was impossible for the
body of men they employed to comply with the orders,--as, suppose, if
they only employed twelve men, and issued eighteen spotted stones daily,
ordering a day's work each,--then the six extra stones would be forged
or false money; and the effect of this forgery would be the depreciation
of the value of the whole coinage by one-third, that being the period of
shortcoming which would, on the average, necessarily ensue in the
execution of each order. Much occasional work may be done in a state or
society, by help of an issue of false money (or false promises) by way
of stimulants; and the fruit of this work, if it comes into the
promiser's hands, may sometimes enable the false promises at last to be
fulfilled: hence the frequent issue of false money by governments and
banks, and the not unfrequent escapes from the natural and proper
consequences of such false issues, so as to cause a confused conception
in most people's minds of what money really is. I am not sure whether
some quantity of such false issue may not really be permissible in a
nation, accurately proportioned to the minimum average produce of the
labour it excites; but all such procedures are more or less unsound;
and the notion of unlimited issue of currency is simply one of the
absurdest and most monstrous that ever came into disjointed human wits.
Public-domain text, read in full here on John Shaqi.
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