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06755_Field_TCUM T320.txt
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1996-04-10
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National Credit. Such a corporate image of credit depended,
then as now, on the fast and comprehensive information
movement that we have taken for granted for two centuries
and more. At that stage of the emergence of public credit,
money assumed the further role of translating, not just local,
but national stores of work from one culture to another.
One of the inevitable results of acceleration of
information movement and of the translating power of money
is the opportunity of enrichment for those who can anticipate
this transformation by a few hours or years, as the case may
be. We are particularly familiar today with examples of
enrichment by means of advance information in stocks and
bonds and real estate. In the past, when wealth was not so
obviously related to information, an entire social class could
monopolize the wealth resulting from a casual shift in