Free Banking Excerpted from the book; Individual Liberty Selections From the Writings of Benjamin R. Tucker Vanguard Press, New York, 1926 Kraus Reprint Co., Millwood, NY, 1973. In 1889, Mr. Hugo Bilgram first published his "Involuntary Idleness," which Mr. Tucker characterized as the most important book of the generation. But, while admiring the author's examination of the relation between unemployment and interest on money, and while agreeing with his conclusion that "an expansion of the volume of money, by extending the issue of credit money, will prevent business stagnation and involuntary idleness," the editor of Liberty had one substantial disagreement with Mr. Bilgram, which he stated thus: When Mr. Bilgram proposes that the government shall carry on (and presumably monopolize, though this is not clearly stated) the business of issui...
A Misinterpretation of Anarchism [Liberty, March 8, 1890.] One of the most interesting papers that come to this office is the Personal Rights Journal of London. Largely written by men like J. H. Levy and Wordsworth Donisthorpe, it could not be otherwise. Virtually it champions the same political faith that finds an advocate in Liberty. It means by individualism what Liberty means by Anarchism. That it does not realize this fact, and that it assumes Anarchism to be something other than complete individualism, is the principal difference between us. This misunderstanding of Anarchism is very clearly and cleverly exhibited in a passage which I copy from a keen and thought-provoking lecture on The Outcome of Individualism, delivered...