All That Glistens (2001)

Book Review from the June 2001 issue of the Socialist Standard

The Power of Gold: The History of an Obsession . By Peter L. Bernstein. John Wiley & Sons, New York.

The author is president of his own economic consulting firm and author of seven books on economics and finance. He is also well-connected with powerful establishment figures, citing for example in his foreword the "significant assistance" of such as Alan Greenspan and Milton Friedman. In addition he also acknowledges the assistance of half-a-dozen researchers. So what is the outcome of such an undertaking into a fascinating subject? There is an astounding collection of stories, anecdotes and speculations on the subject of gold that embraces Biblical legends, Greek mythology, medieval nonsense and modern received wisdom, but nowhere will you find an explanation of what determines the value of gold.

The researchers have obviously been assiduous in their set tasks of tracking down just about every reference to gold they could find in Ancient and Modern History. No expense has been spared in tracing what Moses, Job, Herodotus, St. Thomas Aquinas, Pizzo or Newton had to say on the subject. But nowhere a mention of what determines the value of gold. We can understand that Bernstein and his team of researchers would ignore the ideas of Karl Marx, because of their background and aspirations, but it is a pity one of them hadn't taken a day off from his research and spent an afternoon in a local cinema watching a rerun of The Treasure of Sierra Madre.

He would have seen the Humphrey Bogart character bemoan to the old prospector in the flophouse about how it was a pity gold was so difficult to find, and the Walter Houston character reply, "Many men search for gold, very few find it. Therein is the value of gold." It's as simple as that. The value of gold is determined, like all other commodities, by the amount of socially-necessary labour time spent in its production.

If you want a lot of colourful anecdotes about some of the crazy things people have said and done about gold, then this is the book for you. If you want to know something about the value of gold, and how is determined you would be much better employed reading the 100 or so pages of Part 1 of Marx's Capital, Volume 1. Alternatively look out for the next TV rerun of The Treasure of Sierra Madre.

Richard Donnelly

The Actor and the King by Ret Marut - a short story

From the anarchist website, libcom

'Ret Marut' is better known as the novelist B. Traven, whose most famous novel, 'The Treasure of Sierra Madre', was made into the classic film of the same name. The following short story/parable was written under the pen name of 'Ret Marut'. There is a fascinating biographical sketch of Ret Marut aka B. Traven aka Hal Croves at the libcom website here.

It seldom happens.

Fortunately.

Yet once it did occur that an actor chose a king to be his friend.

Or perhaps it was the other way round. But in the end it makes no difference.

The two of them were honest and sincere friends. They quarrelled and were reconciled, as is generally the custom between true friends.

For two years their friendship held.

The actor made no more ado about this friendship than he would have done about a friendship with any other mortal.

One afternoon they went strolling together in the park.

The actor had played a king the evening before. But not a Shakespearean king. The royal patron of the theatre could not endure those. For Shakespeare's kings, notwithstanding their divine right, were quite ordinary men who loved and hated, murdered and reigned - just as it suited their intents and purposes.

The part of the king in the play of the previous evening, however, had been written by an author who was an anarchist at the age of eighteen, though later he was appointed a privy councillor.

It is understandable that this part should have delighted the king enormously and gave him occasion to converse with the actor on the problem of representing kings on the stage.

- 'What is the sensation you encounter, dear friend, when you appear in the role of a king?'

- 'I feel myself to be totally a king, with the result that I would be incapable of any gesture which does not suit the character of a king.'

- 'That I can understand very well. The crowd of extras, bowing before you as the stage directions instruct them to do, sustains your sense of majestic dignity and suggests to the audience that you are indeed a king.'

- 'Even without the supporting actors I remain a king in the eyes of my audience - even if it should happen that I must be quite alone on stage and deliver a monologue!'

This magnificently artistic conception of the actor's stimulated the king to draw a strictly circumscribed comparison between himself and the thespian king.

- 'But nonetheless, there remains an unbridgeable abyss between a real king and a theatrical king. However remarkable your performance as a king, you cease to be a king as soon as the curtain descends. Suggestibility and dramatic illusion put an end to your majesty as soon as they cease to operate. Whereas I, my dear fellow, I remain a king even when I lie in my bed!'

To this the actor rejoined, 'My dear friend, your comparison applies to both of us. No more than a short while ago we drove in a carriage to the gates of this park. Countless people lined the streets or ran behind us. They waved - you returned their greeting. They shouted as loud as they had breath, "Long live the King!" and "Hurrah!" - you smiled. Rather smugly. But if these people should ever cease to play their parts as unpaid extras, then you also - and not only in your bed, but also in the clear light of day - you also, my friend, will cease to be a real king!'

The king halted abruptly in his tracks.

He stared fixedly at the actor.

His lips grew pale and began to quiver.

Suddenly he turned on his heel.

Briskly he walked to the carriage and rode home.

Alone.The friendship was at an end.

The friends never saw one another again.

And never again did the king attend the theater. He became a thinker.

Became obsessed by the notion that he was a quite ordinary mortal.

Consequently had to abdicate.

Died five years later.

His mind deranged.

It was said.