The Abolition of Interest 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. To-day, a weekly newspaper published in Boston in 1890, printed an editorial on the subject of interest which contained so many vulnerable points that the editor of Liberty was moved to criticize it. After pointing out the errors and fallacies in the editorial, he proceeded: The modern opponents of interest are perfectly willing to consider facts tending to refute their position, but no facts can have such a tendency unless they belong to one of two classes: first, facts showing that interest has generally (not sporadically) existed in a community in whose economy money was as important a factor as it is with us today and in whose laws there was no restriction...
Apex or Basis. [Liberty, December 10, 1881.] Apex says that it is a barbarism to pay interest on money. That is another way of saying that a state of society in which wealth is not universalized is barbarous, since, in our present state of evolution, those who have no capital of their own will be glad to borrow from those who have, and to pay interest for the use of the capital.(62 ¶ 1) For it is really capital that is borrowed, and not money, the latter being only the means for obtaining the former, as money would be worthless if it could not be exchanged for the capital needed. We see already that, as the loanable capital of a country increases, the rate of interest diminishes, and when...