Browsing Untitled By Tag : rate of discount

Browsing By Tag "rate of discount"

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Anarchism and Crime 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. Mr. B. W. Ball wrote an article in the Index criticizing Anarchism without having familiarized himself with the groundwork of that philosophy. Hence the following reply: Mr. Ball's central argument against us, stated briefly, is this: Where crime exists, force must exist to repress it. Who denies it? Certainly not Liberty; certainly not the Anarchists. Anarchism is not a revival of nonresistance, though there may be non-resistants in its ranks. The direction of Mr. Ball's attack implies that we would let robbery, rape, and murder make havoc in the community without lifting a finger to stay their brutal, bloody work. On the contrary, we are t...

Leland Stanford’s Land Bank. [Liberty, June 7, 1890.] The introduction in congress by Leland Stanford of a bill proposing to issue one hundred millions or more of United States notes to holders of agricultural land, said notes to be secured by first mortgages on such land and to bear two percent interest, is one of the most notable events of this time, and its significance is increased by the statement of Stanford, in his speech supporting the bill, that its provisions will probably be extended ultimately to other kinds of property. This bill is pregnant with the economics (not the politics) of Anarchism. It contains the germ of the social revolution. It provides a system of government mutual banking. If it were possible to honestly and efficiently execute its provisions, it would...


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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