resent many forms of business are illegal unless you take out a
licence; under Socialism no one would be allowed to trade without a
licence, and no licences would be issued.'

'Wouldn't a man be allowed to save up his money if he wanted to,
demanded Slyme with indignation.

'There will be nothing to prevent a man going without some of the
things he might have if he is foolish enough to do so, but he would
never be able to save up enough to avoid doing his share of useful
service. Besides, what need would there be for anyone to save? One's
old age would be provided for. No one could ever be out of employment.
If one was ill the State hospitals and Medical Service would be free.
As for one's children, they would attend the State Free Schools and
Colleges and when of age they would enter the State Service, their
futures provided for. Can you tell us why anyone would need or wish to
save?'

Slyme couldn't.

'Are there any more questions?' demanded Philpot.

'While we are speaking of money,' added Barrington, 'I should like to
remind you that even under the present system there are many things
which cost money to maintain, that we enjoy without having to pay for
directly. The public roads and pavements cost money to make and
maintain and light. So do the parks, museums and bridges. But they
are free to all. Under a Socialist Administration this principle will
be extended--in addition to the free services we enjoy now we shall
then maintain the trains and railways for the use of the public, free.
And as time goes on, this method of doing business will be adopted in
many other directions.'

'I've read somewhere,' said Harlow, 'that whenever a Government in any
country has started issuing paper money it has always led to
bankruptcy. How do you know that the same thing would not happen under
a Socialist Administration?'

''Ear, 'ear,' said Crass. 'I was just goin' to say the same thing.'

'If the Government of a country began to issue large amounts of paper
money under the present system,' Barrington replied, 'it would
inevitably lead to bankruptcy, for the simple reason that paper money
under the present system--bank-notes, bank drafts, postal orders,
cheques or any other form--is merely a printed promise to pay the
amount--in gold or silver--on demand or at a certain date. Under the
present system if a Government issues more paper money than it
possesses gold and silver to redeem, it is of course bankrupt.