Apex or Basis. [Liberty, December 10, 1881.] Apex says that it is a barbarism to pay interest on money. That is another way of saying that a state of society in which wealth is not universalized is barbarous, since, in our present state of evolution, those who have no capital of their own will be glad to borrow from those who have, and to pay interest for the use of the capital.(62 ¶ 1) For it is really capital that is borrowed, and not money, the latter being only the means for obtaining the former, as money would be worthless if it could not be exchanged for the capital needed. We see already that, as the loanable capital of a country increases, the rate of interest diminishes, and when...
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...