AUSTRALIA: Turnip Money

If a turnip-grower could issue money he might say: "Here is a piece of paper good for one turnip. I promise to keep a turnip in my cellar for each piece of paper I issue, or if not a turnip then an onion or some other vegetable equally good."

What turnip-growers cannot do with turnips, Premier John Thomas Lang of New South Wales proposed last week to do with what he called "the wealth which Australia can produce in her primary and secondary industries."

Against this "wealth" Laborite Lang would issue money, as it is usually issued against gold. He also...

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