The Redemption of Paper Money 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. In a paper entitled "Banking and the State," read before the Single Tax Club of Chicago, Mr. A. W. Wright took the position, which he considered of the greatest importance, that paper money must always be subject to immediate redemption, the sole reason assigned for that contention being that nothing but public confidence can make paper money possible. The editor of Liberty took issue with him on that point: It remains to be proved that immediate redemption is essential to public confidence. It is, of course, true that certainty of ultimate redemption is such an essential. But this is the most that can be claimed. A run on a bank o...
"And ye shall know the truth, and the truth shall make you free" (John viii. 32). I have but little time left to live, and I should like before my death to tell you, working people, what I have been thinking about your oppressed condition and about those means which will help you to free yourselves from it. Maybe something of what I have been thinking (and I have been thinking much about it) will do you some good. I naturally turn to the Russian laborers, among whom I live and whom I know better than the laborers of any other country, but I hope that my remarks may not be useless to the laborers of other countries as well. Every one who has eyes and a heart sees that you, working men, are obliged to pass your lives in want and in hard labor... (From : Anarchy Archives.)