with what they desired. These exchanges constituted trade, and
money was essential as their medium. But as soon as the nation
became the sole producer of all sorts of commodities, there was
no need of exchanges between individuals that they might get
what they required. Everything was procurable from one source,
and nothing could be procured anywhere else. A system of direct
distribution from the national storehouses took the place of
trade, and for this money was unnecessary."

"How is this distribution managed?" I asked.

"On the simplest possible plan," replied Dr. Leete. "A credit
corresponding to his share of the annual product of the nation is
given to every citizen on the public books at the beginning of
each year, and a credit card issued him with which he procures at
the public storehouses, found in every community, whatever he
desires whenever he desires it. This arrangement, you will see,
totally obviates the necessity for business transactions of any sort
between individuals and consumers. Perhaps you would like to
see what our credit cards are like.

"You observe," he pursued as I was curiously examining the
piece of pasteboard he gave me, "that this card is issued for a
certain number of dollars. We have kept the old word, but not
the substance. The term, as we use it, answers to no real thing,
but merely serves as an algebraical symbol for comparing the
values of products with one another. For this purpose they are
all priced in dollars and cents, just as in your day. The value of
what I procure on this card is checked off by the clerk, who
pricks out of these tiers of squares the price of what I order."