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Updated: July 1, 2025
Fishing fleets flying the national flag also brought home the harvest of the seas. These peace fleets soon far outnumbered the war ships which up to that time exclusively had borne the national commission. On these fleets the sailor was no more a slave. "And now consider the effect of another feature of the public-store system, namely, the disuse of money in its operations.
I have spoken of the public-store scrip commanding several hundred per cent premium over money, but that was in the earlier stages of the transition period. Toward the last the premium mounted to ever-dizzier altitudes, until the value of money quite disappeared, it being literally good for nothing as money.
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