The Probability Broach, chapter 1
Among the possessions of murder victim Vaughn Meiss, Win Bear spots something unusual:
The ambulance was ready to take our client to the taxidermists downtown. One of the techs passed by with a collection of plastic baggies containing personal effects. “Hold on. Let me see that.” He handed over a bright golden disk, larger than the silver dollars I remembered from childhood, in deep relief a picture of a bald-headed old coot with ruffles at his throat:
ALBERT GALLATIN
1761 C.E.-A.L. 76
REVOLUTIONIST, PRESIDENT, SCHOLAR OF LIBERTYOn the other side, an old-fashioned hillbilly whiskey jug, and forest-covered hills behind:
ONE METRIC OUNCE
GOLD 999 FINE
THE LAPORTE INDUSTRIAL BANK, L.T.D.
Win is puzzling over the strange coin and the unfamiliar dating system it bears when he’s interrupted by Oscar Burgess, the state security thug mentioned last week. Burgess doesn’t hesitate to pull rank, announcing that he’s taking over the investigation, which Win finds suspicious:
“What brings SecPol into a simple street killing, Burgess?”
… “You ought to know better than to ask foolish questions. We’re thinking about preempting this case – National Security. When the papers come through, you’ll have to turn everything over to us and go back to busting jaywalkers.” He grinned and watched his men confronting mine, knuckles white on holstered pistol grips all around.
“Didn’t realize there was a full moon last night, Oscar,” I said. He turned back, puzzled. I pointed to a tiny cut on his pockmarked forehead, dried blood at the edges. “Cut yourself shaving?”
He whitened. “Mind your own stinking business, Bear, or I’ll have you back working curfew violations!”
This, of course, is the injury that Win infers Meiss’ killer must have suffered. The book all but shouts it, so it’s not a spoiler to say that Burgess is the killer.
The reason he murdered Meiss, rather than arresting him, won’t be revealed until later. However, it has no meaningful impact on the plot, so I’ll spoil it here: Burgess has gone rogue. He’s running his own scheme on the side that he doesn’t want his superiors to know about yet.
After delivering the stock “you’re off the case” message, Burgess storms out. Win holds onto the coin, spitefully resolving to pursue the investigation on his own:
I signed six different forms and took the coin, to be surrendered at Properties tomorrow, on pain of pain. Eventually it would wind up in some bureaucrat’s pocket, or melted down to feed a multi-quadrillion neobuck federal deficit. Probably the former.
This is another detail that’s only vaguely sketched in, but it seems that in this dystopia, individual possession of gold has been outlawed. Win narrates: “Gold, legally kosher a few brief years ago, was presently hotter than vitamin C”.
This is reminiscent of when FDR made it illegal to own gold in 1933. It was a first step toward getting the U.S. off the gold standard, which was strangling economic recovery and prolonging the Great Depression. As long as the government was constrained by the requirement to be able to redeem dollars for gold, it was hobbled in what actions it could take. It was an arbitrary and artificial limit on the money supply that led to a deflationary spiral.
When the dollar was no longer tied to a finite gold reserve, the government could issue debt to pay for New Deal social programs, kickstarting the economy and ending the depression. The plan worked as intended, but despite its success – or more likely because of its success – libertarians and other goldbugs are still mad about it. They believe that the confiscation of gold inaugurated an era of government tyranny. There’s an echo of that reaction in this book.
The unusual thing is that unlike Ayn Rand, who declared that gold was “the objective value”, Smith doesn’t believe gold has any exalted metaphysical status. In his utopia, there are competing private currencies backed by commodities like wheat, iron, even whiskey. This is a consistent application of his anarchist politics.
But in spite of this, he persists in treating gold as specially significant. It’s no coincidence that the first big clue is a gold coin from another world (rather than, say, a paper banknote). It’s also not by chance that Smith’s tyrannical government hoards gold as part of its program of social control.
Libertarians have always assigned a talismanic, almost religious status to gold. They believe it’s “real” money in a way that fiat currency isn’t. Gold fever is so common among Smith’s ideological confreres, it seems he’s unconsciously adopted the same attitude, even though his philosophy doesn’t require him to. It’s almost like a vestigial trait.