for the preservation of order and the increase of common facilities with a definite intention of grappling with the archaic problem of unemployment. If we require further sums—which seems unlikely at the moment—we shall propose that these be raised by taxation, subject to your approval as land owners.”
It is inflation: but it is open, wilful and final inflation, based upon a full disclosure of the value of such order and foothold as we have, instead of being the creeping inflation from which we have suffered in the past, based upon very dubious political discretion; or the lurching inflation we now face, if revolution is to be avoided,—and it puts an end for all time to destructive deflation. If certain rational safeguards are taken, it is inflation which will bear least heavily on the wage-earner, and the more simple-minded long-term investor.
