Page:Coin's Financial School.djvu/98

 80 from the other and redemption could take place, and no one would suffer by it.

"It would be as sound a currency as credit money based, on property.

"It would be put in circulation by the government paying it out to its employés.

"The postage stamp is based on the principle of redemption in services, but is not issued in suitable form for currency, and yet it is frequently used in small remittances in letters as such.

"A form of credit money could now be issued resembling our paper bills, redeemable in postage stamps."

"How much?" asked Mr. Sovereign, whose face had worn a broad smile during the answer to his previous question.

"The total annual postal business," said "of the government for last year was about $75,000,000. This amount would circulate at par, with other money—how much more I would not now undertake to say. It would be redeemable in postage stamps, just as the other would be redeemable in railroad passenger tickets, or receipted freight bills.

"This would be money based on labor."

was here interrupted by President Struckman, of the Board of County Commissioners, who said: