Money and Capital. [Liberty, December 1, 1888.] To the Editor of Liberty:(68 ¶ 1) I have read attentively Mr. Westrup’s farther statement on mutual banking, but fail to see wherein he touches what is to my mind the vital point. He says that the system would not be making use of capital that belonged to some one else. Then I cannot see how it would answer its purpose. The bank itself has no capital save the pledges advanced by borrowers, and if they take out no more than they put in, they make no gain, but are merely to the expense of the transaction. On the other hand, if they do take out more, some one else must have put it in. They do not increase their wealth by using their own pro...
No Treason VI Lysander Spooner Table of Contents No Treason. No. VI.: The Constitution of No Authority. I. II. III. Iv V VI. VII. VIII. IX. X. XI. XII. XIII. XIV. XV. XVI. XVII. XVIII. XIX. Appendix. Entered according to Act of Congress, in the year 1870, By LYSANDER SPOONER, in the Clerk's Office of the District Court of the United States, for the District of Massachusetts. The first and second numbers of this series were published in 1867. For reasons not necessary to be explain... (From : Anarchy Archives.)