Mutualism : a Synthesis

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The advantages to the nation at large of being able in this manner to keep the supply of currency fairly equal to the demand (neither much greater — inflation, nor much less — scarcity) and thus to prevent any appreciable variations in the purchasing power of money, should more than outbalance any private objections to the reform. Indeed, there need be no great deviation from existing practice. Even now a number of bank officials are cognizant of each chent's account. The staff of the Monopoly
...Bank could be sworn to professional secrecy — even as against the taxation authorities — and the public need really have no more fear of indiscretions than at present in the case of bank, post office-, telegraph- and telephone-clerks. It is only the novelty of the idea that at first comes as a shock to the old fashioned business man. As a matter of fact he — and aU of us, except the financial jobbers — would stand to gain by the setting up of a currency ^ more in accordance 1 " "We shall find that money itself belongs to a general class of goods which we may call " currency ' or " circulating media.' .

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