Pinney Struggling with Procrustes. [Liberty, March 12, 1887.] It is the habit of the wild Westerner, whenever he cannot answer a Bostonian’s arguments, to string long words into long sentences in mockery of certain fancied peculiarities of the Boston mind. Editor Pinney of the Winsted Press is not exactly a wild Westerner, but he lives just far enough beyond the confines of Massachusetts to enable him to resort to this device in order to obscure the otherwise obvious necessity of meeting me on reason’s ground. His last reply to me fruitlessly fills two-thirds of one of his long columns with the sort of bunkum referred to, whereas that amount of space, duly applied to solid argument, might have sufficed to show one of us in error. Whatever the characteristics of...
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 A Loan is a Service On the one hand, it is very true, as you have unquestionably established, that a loan is a service. And as every service has a value, and, in consequence, is entitled by its nature to a reward, it follows that a loan ought to have its price, or, to use the technical phrase, ought to bear interest. But it is also true, and this truth is consistent with the preceding one, that he who tends, under the ordinary conditions of the professional lender, does not deprive himself, as you phrase it, of the capital which be lends. He lends it, on the contrary, precisely bec... (From : Anarchy Archives.)