The buying and selling of all conceivable products and articles of
merchandise in Freeland was carried on in large halls and warehouses, which
were under the management of the community. No one was forbidden to buy and
sell where he pleased, but these public magazines offered such enormous
advantages that everyone who did not wish to suffer loss made use of them.
No fee was charged for storing or manipulation, as it was quite immaterial,
in a country where everyone consumed in proportion to his production,
whether the fees were levied upon the consumers as such, or upon the same
persons in their character as producers in the form of a minimal tax. What
was saved by the simplification of the accounts remained as a pure gain.
Further, an elaborate system of warranty was connected with these
warehouses. Since the warehouse officials were at the same time the channel
through which purchases were made, they were always accurately informed as
to the condition of the market, and could generally appraise the warehoused
goods at their full value. The sales took place partly in the way of public
auction, and partly at prices fixed by the producers; and here also no
commission was charged to either seller or buyer.
The supreme authority in Freeland was at the same time the banker of the
whole population. Not merely every association, but every individual, had
his account in the books of the central bank, which undertook the receipts
and the disbursements from the millions of pounds which at a later date
many of the associations had to receive and pay, both at home and abroad,
down to the individual's share of profits on labour and his outlay on
clothes and food. A 'clearing system,' which really included everything,
made these numberless debit and credit operations possible with scarcely
any employment of actual money, but simply by additions to and subtractions
from the accounts in the books. No one paid cash, but gave cheques on his
account at the central bank, which gave him credit for his earnings,
debited his spendings to him, and gave him every month a statement of his
account. Naturally the loans granted by the commonwealth as capital for
production, mentioned in the previous chapter, appeared in the books of the
bank. In this way the bank was informed of the minutest detail of every
business transaction throughout the whole country. It not only knew where
and at what price the producers purchased their machinery and raw material
and where they sold their productions, but it knew also the housekeeping
account, the income and cost of living of every family. Even the retail
trade could not escape the omniscience of this control. Most of the
articles of food and many other necessaries were supplied by the respective
associations to their customers at their houses. All this the bank could
check to a farthing, for both purchases and sales went through the books of
this institution. The accounts of the bank had to agree with the statements
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