about 18% per annum in the last few years.[1] And whether we call it prosperity or inflation we are bound to have higher prices under our present system. Taxation has to be met which will be followed by higher rents, higher wages and higher costs of production. Looking at the thing logically we can only look forward to so-called inflation or revolt. The dollar will be less than ever gold, and just as worthless a measure of value.
It is a farce of such magnitude that words fail. In 1950 the wage-earner and the thrifty saver of today, instead of a title to the measurable basic value expressed by one man-acre in a region of order will have something that he calls a dollar and is worth three doughnuts and a cup of coffee. We are not fit to be free.
- ↑ See page 130.
