steel in plates and bars. It is easy to see that the Bank of Eurasia
transacted an immense volume of business daily.

The bank coined gold in denominations of fifty dollars, twenty dollars,
ten dollars and five dollars; silver in dollar, fifty and
twenty-five-cent pieces; nickel in ten-cent and five-cent pieces, and
aluminum in one-cent pieces. All money coined with ten per cent. alloy
and at bullion value. The coinage was readjusted every ten years and
silver, nickel and aluminum coins were exchangd for gold at their face
value. The Government issued banknotes drawing two per cent. a year, and
loaned money on land and on goods in the Government warehouses and
conducted a fire insurance business, but no insurance was paid on any
property that was insured in the building where the fire broke out, and
on no buildings that were not fireproof. No life insurance was allowed
and no corporation or individual was allowed to carry on an insurance
business and no person was permitted to insure property or life in the
country in any foreign corporation, and no stock exchanges or gambling
in futures were allowed.

The Bank of Eurasia published every month in the National Gazette the
amount of money on hand, so that the people might know when it was
necessary for the Government to make a new issue of banknotes, so as not
to cripple the circulation.

I was greatly, impressed with the reply of the Minister of Finance when
I asked him why he published those statements, "We deal honestly with
the people and they trust us." In answer to my question if there were
any trusts in his country, he smiled and replied, "One trust: the
People."