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 A Loan is a Service On the one hand, it is very true, as you have unquestionably established, that a loan is a service. And as every service has a value, and, in consequence, is entitled by its nature to a reward, it follows that a loan ought to have its price, or, to use the technical phrase, ought to bear interest. But it is also true, and this truth is consistent with the preceding one, that he who tends, under the ordinary conditions of the professional lender, does not deprive himself, as you phrase it, of the capital which be lends. He lends it, on the contrary, precisely bec... (From : Anarchy Archives.)
Proudhon, Pierre Joseph. System of Economical Contradictions: or, the Philosophy of Misery Electronic Text Center, University of Virginia Library Before entering upon the subject-matter of these new memoirs, I must explain an hypothesis which will undoubtedly seem strange, but in the absence of which it is impossible for me to proceed intelligibly: I mean the hypothesis of a God. To suppose God, it will be said, is to deny him. Why do you not affirm him? Is it my fault if belief in Divinity has become a suspected opinion; if the bare suspicion of a Supreme Being is already noted as evidence of a weak mind; and if, of all philosophical Utopias, this is the only one which the world no longer tolerates? Is it my fault if hypocrisy and imbecility everywhere hide behind this holy formula? Let a public teacher suppose the existence, in the universe, of an unknown force governing suns and atoms, and keeping the whole mac...