Rights and Duties Under Anarchy. [Liberty, December 31, 1887.] Old readers of this paper will remember the appearance in its columns, about two years ago, of a series of questions propounded by the writer of the following letter and accompanied by editorial answers. To-day my interrogator questions me further; this time, however, no longer as a confident combatant, but as an earnest inquirer. As I replied to him then according to his pugnacity, so I reply to him now according to his friendliness.(13 ¶ 1) To the Editor of Liberty:(13 ¶ 2) Will you please insert the following questions in your paper with your answers theret...
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.)