Free Banking 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. In 1889, Mr. Hugo Bilgram first published his "Involuntary Idleness," which Mr. Tucker characterized as the most important book of the generation. But, while admiring the author's examination of the relation between unemployment and interest on money, and while agreeing with his conclusion that "an expansion of the volume of money, by extending the issue of credit money, will prevent business stagnation and involuntary idleness," the editor of Liberty had one substantial disagreement with Mr. Bilgram, which he stated thus: When Mr. Bilgram proposes that the government shall carry on (and presumably monopolize, though this is not clearly stated) the business of issui...
Preface Instead of a book! I hear the reader exclaim, as he picks up this volume and glances at its title; why, it is is a book. To all appearance, yes; essentially, no. It is, to be sure, an assemblage within a cover of printed sheets consecutively numbered; but this alone does not constitute a book. A book, properly speaking, is first of all a thing of unity and symmetry, of order and finish; it is a literary structure, each part of which is subordinated to the whole and created for it. To satisfy such a standard this volume does not pretend; it is not a structure, but an afterthought, a more or less coherent arrangement, each part of which was created almost without reference to any other. Yet not quite so, after all; otherwise even the smallest degree of coherence were scarcely possible.(Preface ¶ 1)...