Henry George and Interest 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. When Henry George was conducting his Standard some of his correspondents inveigled him into a discussion of the question of interest, in which he attempted to prove that interest is a vital reality apart from the money monopoly. The editor of Liberty at once took issue with him there: The Standard now acknowledges that "the theory of interest as propounded by Mr. George has been more severely and plausibly criticized than any other phase of the economic problem as he presents it." When we consider that George regards it as an economic law that interest varies inversely with so important a thing as rent, we see that he cannot consistently t...
Mr. Levy’s Maximum [Liberty, November 1, 1890.] Whatever else Anarchism may mean, it means that State coercion of peaceable citizens, into cooperation in restraining the activity of Bill Sikes, is to be condemned and ought to be abolished. Anarchism implies the right of an individual to stand aside and see a man murdered or a woman raped. It implies the right of the would-be passive accomplice of aggression to escape all coercion. It is true the Anarchist may voluntarily cooperate to check aggression; but also he may not. Quâ Anarchist, he is within his right in withholding such cooperation, in leaving others to bear the burden of resistance to aggression, or in leaving the aggressor to triumph unchecked. Individualism, on the other hand, would not onl...
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.)