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...
L’État Est Mort; Vive L’État! [Liberty, May 24, 1890.] To the Editor of Liberty:(26 ¶ 1) Hooks-and-eyes are very useful. Hooks are useless; eyes are useless. Yet in combination they are useful. This is cooperation. Where you have division of labor and consequent differentiation of function and, eventually, of structure, there is cooperation. Certain tribes of ants have working members and fighting members. The military caste are unable to collect food, which is provided for them by the other members of the community, in return for which they devote themselves to the defense of the whole society. But for these soldiers the society would perish. If either class peris...