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# Wellspring: Monetary policy: apologia
## Reasoning:
If the population of the polity increases to the extent that increases in currency supply are needed, the government should then need new police and soldiers, so the problem solves itself, since the number of soldiers and policemen should scale to cover the population size. So hiring new soldiers and purchasing military assets for readiness to meet the needs of a particular population size should serve as a stand-in for money supply management.
## Specific response to the Central Banking pattern in use around the world today:
There are many things said about the central banking system in use all around the world today. We considered adding a prohibition on the establishment of a formal monetary control entity, but decided against it because the destruction of liberty comes not because government can deficit spend, but because:
- It can both pass anti-liberty legislation and spend (whether with or without deficits) to effectuate such legislation.
- The fundamental problem with the central banking scheme is that the minting of new money is done via a bond and not a bill -- that is, the money is minted as a debt instrument. If the central banks around the world weren't printing currency as debt instruments, there would be nothing inherently problematic about them.
Now, to circle back to the central banking argument, the very simple solution is twofold:
- To structure the constitution so that it's hard to pass laws that infringe on private property.
- To make it an outlawable offense to present any bill in the legislature which seeks to mint the government's currency as a debt.
For this reason we haven't provided any explicit mechanisms to prohibit the establishment of a formal monetary control entity in government. We have however, ensured that the monetary control authority will not attach debt to the minting of the currency.