Browsing Untitled By Tag : rate of discount

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Resistance to Government 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 1888 Mr. John Beverley Robinson (who just before his death in 1923 translated Proudhon's "General Idea of the Revolution in the Nineteenth Century," published by Freedom Press, London) entered into a discussion with the editor of Liberty on the question of nonresistance, which enabled Mr. Tucker to make clear the attitude of Anarchism toward aggression and in its manner of treating aggressors: Mr. Robinson says that the essence of government is compulsion by violence. If it is, then of course Anarchists, always opposing government, must always oppose violence. But Anarchists do not so define government. To them the essence of government is invasio...

State Banking versus Mutual Banking. [Liberty, February 15, 1890.] To the Editor of Liberty:(84 ¶ 1) In view of the favorable criticism which Involuntary Idleness received at your hands, I gladly accept the invitation to state my reasons for advocating governmental management of the circulating medium, rather than free banking.(84 ¶ 2) My studies have led me to the conviction that mutual banking cannot deprive capital of its power to bring unearned returns to its owner. Referring to my exposition of the monetary circulation between the financial and the industrial group, and the inevitable effects flowing from the...


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 Arguments Drawn from the Operations of the Bank of France It is not true--and the facts just cited prove beyond a doubt that it is not--that the decrease of interest is proportional to the increase of capital. Between the price of merchandise and interest of capital there is not the least analogy; the laws governing their fluctuations are not the same; and all your dinning of the last six weeks in relation to capital and interest has been utterly devoid of sense. The universal custom of banks and the common sense of the people give you the lie on all these points in a most humiliat... (From : Anarchy Archives.)

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