These letters, addressed to Frederic Bastiat, an economist, originally appeared in a debate published in The Voice of the People, in 1849. Interest and Principal The Circulation of Capital, Not Capital Itself, Gives Birth to Progress Thus it is with interest on capital, legitimate when a loan was a service rendered by citizen to citizen, but which ceases to be so when society has acquired the power to organize credit gratuitously for everybody. This interest, I say, is contradictory in its nature, in that, on the one hand, the service rendered by the lender is entitled to remuneration, and that, on the other, all wages suppose either a production or a sacrifice, which is not the case with a loan. The revolution which is effected in the legi... (From : Anarchy Archives.)
Again there are murders, again disturbances and slaughter in the streets, again we shall have executions, terror, false accusations, threats and anger on the one side; and hatred, thirst for vengeance, and readiness for self-sacrifice, on the other. Again all Russians are divided into two hostile camps, and are committing and preparing to commit the greatest crimes. Very possibly the disturbances that have now broken out may be suppressed, though it is also possible that the troops of soldiers and of police, on whom the Government place such reliance, may realize that they are being called on to commit the terrible crime of fratricide-and may refuse to obey. But even if the present disturbance is suppressed, it will not be extinguished, but... (From : Anarchy Archives.)