Changes

Mulligan's answer was to liquidate his bank totally, though he made sure that no depositor lost any money in the liquidation. He then took the proceeds and bought a secluded valley in the [[Rocky Mountains]]. There he built a home and stocked it with supplies sufficient to let him retire there for life. First Judge Narragansett, and then Richard Halley, asked Midas whether he would be willing to rent some land to him, and Midas agreed.

Mulligan's answer was to liquidate his bank totally, though he made sure that no depositor lost any money in the liquidation. He then took the proceeds and bought a secluded valley in the [[Rocky Mountains]]. There he built a home and stocked it with supplies sufficient to let him retire there for life. First Judge Narragansett, and then Richard Halley, asked Midas whether he would be willing to rent some land to him, and Midas agreed.

Apparently, John Galt built a much larger version of his electrostatic motor and used it to drive a [[dynamo]] to provide the valley with electric power. Now Midas asked Galt to advertise leaseholds in his valley to other strikers. Galt did, and then the strikers began to populate the valley and even turn it into a functioning society and economy. Midas received rents from everyone and even reopened his bank.

Apparently, John Galt built a much larger version of his electrostatic motor and used it to drive a [[dynamo]] to provide the valley with electric power. Now Midas asked Galt to advertise leaseholds in his valley to other strikers. Galt did, and then the strikers began to build their own houses, if only to live there one month out of the twelve. Midas received rents from everyone, reopened his bank, and then established a mint to produce [[gold]] and [[silver]] coins.

 

The economy of the valley was very simple. Francisco d'Anconia did drive a copper mine into the side of one of the mountains, but that was the only industry that the valley had, other than agriculture and a kind of tourism. Specifically, the strikers could come to the valley in June, take in a Richard Halley concert, and buy a pack of the best cigarettes available on earth: the dollar-sign brand of the Mulligan Tobacco Company (which "company" consisted of Mulligan and Hugh Akston as principal members).

John Galt did not act as any sort of "mayor." Instead, he, Francisco, and Ragnar formed a three-man Committee of Safety that was the closest thing to a state that the valley had. Galt called the place Mulligan's Valley (because Midas Mulligan actually owned the land). The other strikers called [[Galt's Gulch]] (because John Galt was still their spiritual and political leader, as chairman of the Committee of Safety, and because John Galt's electrostatic motor gave the valley an actual source of physical power).

John Galt did not act as any sort of "mayor." Instead, he, Francisco, and Ragnar formed a three-man Committee of Safety that was the closest thing to a state that the valley had. Galt called the place Mulligan's Valley (because Midas Mulligan actually owned the land). The other strikers called [[Galt's Gulch]] (because John Galt was still their spiritual and political leader, as chairman of the Committee of Safety, and because John Galt's electrostatic motor gave the valley an actual source of physical power).