From: declan@well.com (Declan McCullagh)
Date: Thu, 20 Jun 1996 09:42:33 +0800
To: jim bell <jimbell@pacifier.com>
Subject: Re: Digital Cash application
Message-ID: <v01510116adedf36279ef@[204.62.128.229]>
MIME-Version: 1.0
Content-Type: text/plain


Jim:

This is a nice idea, but it's not going to happen.

Yes, Harry Browne has raised enough money to qualify for matching funds
from the FEC. But he's unable to give out the cash or use it to pay down
the gvt debt since doing so could violate FEC regulations. The FEC is also
unwilling only to certify Browne for matching funds without giving it to
him -- he's got to take the money and spend it on campaign foo and nothing
else, says the government. Finally, once they give you cash you have to
meet a higher degree of scrutiny, which costs money in lawyers and
accountants.

Talk about bureaucracy.

At least this is what the party tells me. I'll be covering their
convention, which is in DC a few weeks from now.

-Declan


>In 1996, the Libertarian Party will apparently qualify for Federal matching
>funds for its Presidential political campaign.  That does not mean that it
>will _accept_ them, being stolen goods.  However, a few years ago I heard of
>an idea that they should accept the money, and return it to the people, a
>small amount at a time, to whomever asks for it.  Besides returning the
>stolen money to its rightful owners, that would produce substantial positive
>publicity for the Libertarian party, embarrassment for the Democrats and
>Republicans, while at the same time reducing the amount of money available
>for the D's and the R's.
>
>
>But there's been a practical question of how to actively do this,
>economically.  Issuing checks and mailing them costs money, and they're
>traceable, etc.    The advent of digital cash suggests an answer: Make the
>payments in the form of digital cash, payable on the Web.  This will
>encourage the use of digital cash, and provide a sudden infusion that will
>promote other uses.  There's another advantage, however.  Since "Netizens"
>are somewhat biased towards libertarianism, this will have the effect of
>keeping more of this money "in the family" as it were, while at the same
>time being open, technically, to everyone who can get on the 'net.
>
>
>Jim Bell
>jimbell@pacifier.com