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Writing: A Remedy for the Country

A Remedy for the Country, § 39

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§ 39

This is how matters stand, as I see it, when viewed in their true light. Far be it from me to wish to blame or criticize the arrangements that have been or could be made, but as these matters, for the reasons adduced, seem to me to be of the highest importance, in which the welfare of the whole country appears to balance as if on the point of a needle, I could not have satisfied my conscience, as a citizen of a free country, until I had been able to submit my arguments to the scrutiny of the general public, and if they are well founded it should be possible for the proposal to be adopted by the Sovereign Power and be still further improved by those who possess the knowledge that I lack.

Otherwise, however, and if I should be going astray, the reader may find that at least the arguments deserve a thorough refutation among a people that ought to know its own rights, at a time when many others from the best of intentions personally worry about these problems.

In regulating a financial system to strengthen the country, a Bank man, qua talis,1 even if he were the most competent and honest one, is not suitable, for he is only accustomed to look to the interest of the Bank; nor a merchant, for he aims at his own immediate advantage; nor a financial official, who only wants to increase the revenue of the Crown; nor a salaried man, who would prefer to see a rate of 24 mark even if that were to cause the ruin of all productive occupations; nor a borrower or lender, for each has his own personal interest in it; and least of all a banknote capitalist, who dreams each night of the transmutation of his banknotes into riksdaler and dukater.

Here a far greater and more extensive aim than any of those is to be achieved, namely the revival and security of all productive occupations.

If this is now yet again neglected, as has unfortunately tended to happen hitherto when regulating finances, and the productive occupations are depressed, whatever we wish to do to assist the Bank, commerce, the Crown, public officials, employees or banknote capitalists will be wasted effort.

All of these derive their sustenance from the productive occupations and cannot even exist without them.

It is an easy task to give the Bank and the Crown their due when there are a large number of wage-earners among whom to distribute the charges. The reason why this is so difficult for us now, however, is precisely the fact that the burden is large and there are few shoulders to bear it. Unless we now labour assiduously to obtain security even for the most vulnerable productive occupations and thereby increase the population, but rather increase the advantages of a few by means of artificial measures and by driving workers abroad, it must eventually happen that the load will become too heavy for the rest, so that they are either weighed down by it or throw it off, and we shall then see what the Bank and the Crown have gained by that.

When we thus have to deal with the finances of the country and wish to achieve a great aim, we must set aside all others, lest we lose the main one for the sake of inessential matters.

It is not my view, however, that the rights of the Crown and of public officials should be disregarded. Such matters, however, form part of the finances of the Crown. They are each in themselves important topics and should be resolved by the Committees of Finance and Trade, Budget and Appropriations, and they have no connection with the financial system of the country except that they cannot be accurately assessed and defined before that is stabilized, unless our measures are in future as hitherto to be makeshift ones that do not fit into the great chain, with the linking together of which the honourable Estates of the Realm are presently occupied, which is the genuine well-being and happiness of the country.

In the elaboration of this subject, a number of more or less complicated circumstances have emerged in its actual application, but as my aim has been to make myself understood to at least the majority of my readers, I have been obliged to pass over these and concentrate solely on the fundamental truths themselves, which I have endeavoured to explain with simple examples.

If the simplicity is regarded as a fault of mine, that is the very thing that I have sought to achieve. Should my treatise nonetheless still be obscure in certain places, it has not been in my power to explain it any better.

Were I to be honoured with some criticism, I would wish that it first dealt with that on which we agree, for then the truth will most effectively emerge, and I shall fulfil my purpose, which is the enlightenment of the general public and of myself.


  1. qua talis: as such.

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