"And now consider the effect of another feature of the public-store system, namely, the disuse of money in its operations. Ordinary money was not received in the public stores, but a sort of scrip canceled on use and good for a limited time only. The public employee had the right of exchanging the money he received for wages, at par, into this scrip. While the Government issued it only to public employees, it was accepted at the public stores from any who presented it, the Government being only careful that the total amount did not exceed the wages exchanged into such scrip by the public employees. It thus became a currency which commanded three, four, and five hundred per cent premium over money which would only buy the high-priced and adulterated goods for sale in the remaining stores of the capitalists. The gain of the premium went, of course, to the public employees. Gold, which had been worshiped by the capitalists as the supreme and eternal type of money, was no more receivable than silver, copper, or paper currency at the public stores, and people who desired the best goods were fortunate to find a public employee foolish enough to accept three or four dollars in gold for one in scrip. "The effect to make money a drug in the market, of this sweeping reduction in its purchasing utility, was greatly increased by its practically complete disuse by the large and ever-enlarging proportion of the people in the public service. The demand for money was still further lessened by the fact that nobody wanted to borrow it now for use in extending business, seeing that the field of enterprise open to private capital was shrinking every hour, and evidently destined presently to disappear. Neither did any one desire money to hoard it, for it was more evident every day that it would soon become worthless. I have spoken of the public-store scrip commanding several hundred per cent premium over money, but that was in the earlier stages of the transition period. Toward the last the premium mounted to ever-dizzier altitudes, until the value of money quite disappeared, it being literally good for nothing as money. "If you would imagine the complete collapse of the entire monetary and financial system with all its standards and influences upon human relations and conditions, you have only to fancy what the effect would have been upon the same interests and relations in your day if positive and unquestioned information had become general that the world was to be destroyed within a few weeks or months, or at longest within a year. In this case indeed the world was not to be destroyed, but to be rejuvenated and to enter on an incomparably higher and happier and more vigorous phase of evolution; but the effect on the monetary system and all dependent on it was quite the same as if the world were to come to an end, for the new world would have no use for money, nor recognize any human rights or relations as measured by it."