Monopoly, Communism, and Liberty. [Liberty, March 26, 1887.] Pinney of the Winsted Press grows worse and worse. It will be remembered that, in attacking the free-money theory, he said we had a taste of it in the day of State wildcat banking, when every little community had its State bank issues; to which I made this answer: How could State bank issues be free money? Monopoly is monopoly, whether granted by the United States or by a single State, and the old State banking system was a thoroughly monopolistic system. This language clearly showed that the free money objection to the old State banks as well as to the present national banks is not founded on any mistaken idea that in either case the government actually issues the money, but that in both cases alike the mo...
An Inquiry into the Principle of Right and of GovernmentP. J. Proudhon: His Life and His Works. The correspondence of P. J. Proudhon, the first volumes of which we publish to-day, has been collected since his death by the faithful and intelligent labors of his daughter, aided by a few friends. It was incomplete when submitted to Sainte Beuve, but the portion with which the illustrious academician became acquainted was sufficient to allow him to estimate it as a whole with that soundness of judgment which characterized him as a literary critic. In an important work, which his habitual readers certainly have not forgotten, although death did not allow him to finish it, Sainte Beuve thus judges the correspondence of the great publicist: — “The letters of Proudhon, even outside the circle of his particular friends, will always be of value; we can always learn something from them, and here is the proper place to determine the general character of his correspondence. “It has alway...