Its Nature, Object, and Destiny
The Revolution of February raised two leading questions: one economic, the question of labor and property; the other political, the question of government or the State. On the first of these questions the socialistic democracy is substantially in accord. They admit that it is not a question of the seizure and division of property, or even of its repurchase. Neither is it a question of dishonorably levying additional taxes on the wealthy and property-holding classes, which, while violating the principle of property recognized in the constitution, would serve only to overturn the general economy and aggravate the situation of the proletariat. The economic reform consists, on the one hand, in opening usurious credit to competition and thereby ... (From : proudhonlibrary.org.)
Proudhon, Pierre Joseph. System of Economical Contradictions: or, the Philosophy of Misery Electronic Text Center, University of Virginia Library 3. -- Application of the law of proportionality of values. Every product is a representative of labor. Every product, therefore, can be exchanged for some other, as universal practice proves. But abolish labor, and you have left only articles of greater or less usefulness, which, being stamped with no economic character, no human seal, are without a common measure, -- that is, are logically unexchangeable. Gold and silver, like other articles of merchandise, are representatives of value; they have, therefore, been able to serve as common measures and mediums of exchange. But the special function which custom has allotted to the precious metals, -- that of serving as a commercial agent, -- is purely conventional, and any other article...