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Multiple Formats for Money
Both John Bryant and Eric Williams make the same fundamental presumption without ever either voicing that presumption.
The presumption is that money is some kind of natural monopoly and that only one format can really serve all of the people.
Using my definition for money: "Money is an extension of speech that is actually a special branch of language where by means of symbols and contracts people are able to exchange real things by proxy," you can quickly grasp that there exists a plethora of items of several types that can serve quite well as money.
The natural monopoly presumption itself traps the believer into an enclosed box, and unless that presumption is refuted all exits from the box are closed.
Please notice that I have not said people cannot offer a silver coin or a gold coin in trade; what I say is that a promise to deliver a thousand bushels of corn next week - or next month - where this promise is itself transferable and the delivery is made to the bearer (of the written promise/contract) - then this is also a form of money.
In fact, if you observe with an open mind the various forms of symbols in trade already, it will become obvious that many monetary formats are already circulating.
Levi Philos
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