In Form a Reply, in Reality a Surrender. [Liberty, September 10, 1887.] Appreciating the necessity of at least seeming to meet the indisputable fact which I opposed to its championship of government postal monopoly, the Winsted Press presents the following ghost of an answer, which may be as convincing to the victims of political superstition as most materializations are to the victims of religious superstition, but which, like those materializations, is so imperceptible to the touch of the hard-headed investigator that, when he puts his hand upon it, he does not find it there.(34 ¶ 1) The single instance of Wells, Fargo & Co., cited by B. R. Tucker to prove the advan...
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.)