Fedor Mihailovich Smokovnikov, the president of the local Income Tax Department, a man of unswerving honesty—and proud of it, too—a gloomy Liberal, a free-thinker, and an enemy to every manifestation of religious feeling, which he thought a relic of superstition, came home from his office feeling very much annoyed. The Governor of the province had sent him an extraordinarily stupid minute, almost assuming that his dealings had been dishonest. Fedor Mihailovich felt embittered, and wrote at once a sharp answer. On his return home everything seemed to go contrary to his wishes. It was five minutes to five, and he expected the dinner to be served at once, but he was told it was not ready. He banged the door and went to his study. Somebody knocked at the door. “Who the devil is that?” he thought; and shouted,—“Who is there?” The door opened and a boy of fifteen came in, the son of Fedor Mihailovich, a pupil of the fifth...
The Redemption of Paper Money 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 a paper entitled "Banking and the State," read before the Single Tax Club of Chicago, Mr. A. W. Wright took the position, which he considered of the greatest importance, that paper money must always be subject to immediate redemption, the sole reason assigned for that contention being that nothing but public confidence can make paper money possible. The editor of Liberty took issue with him on that point: It remains to be proved that immediate redemption is essential to public confidence. It is, of course, true that certainty of ultimate redemption is such an essential. But this is the most that can be claimed. A run on a bank o...
An Inquiry into the Principle of Right and of GovernmentPreface. The following letter served as a preface to the first edition of this memoir: — “To the Members of the Academy of Besançon. “PARIS, June 30, 1840. “GENTLEMEN, — In the course of your debate of the 9th of May, 1833, in regard to the triennial pension established by Madame Suard, you expressed the following wish: — “ ‘The Academy requests the titulary to present it annually, during the first fortnight in July, with a succinct and logical statement of the various studies which he has pursued during the year which has just expired.’ “I now propose, gentlemen, to discharge this duty. “When I solicited your votes, I boldly avowed my intention to bend my efforts to the discovery of some means of ameliorating the physical, moral, and intellectual condition of the mere numerous and poorer classes. This idea, foreign as it m...