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Updated: May 26, 2025
This most important function of money, as a title-deed, on the non-violation of which all national soundness of commerce and peace of life depend, has been never rightly distinguished by economists from the quite unimportant function of money as a means of exchange.
When however they do fill the condition of natural aspect in its fundamental essence, in its condition of non-violation of physical law, when, uncompromised by such discrepancy, the presentment of the idea is complete and this alone engages us, the work by virtue of its higher motive takes higher rank in the scale of art than that in which the idea has been delegated to a place second to the shell which encloses it.
Where this is lacking, where my fellow does not recognize and treat me as a free, rational being, the right of coercion comes in; coercion, however, is not to be exercised by the individual himself since then there would be no guaranty either for its successful exercise or for the non-violation of the legal limit but devolves upon the state.
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