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...