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...
Not a Decree, but a Prophecy. [Liberty, April 28, 1888.] Have I made a mistake in my Anarchism, or has the editor of Liberty himself tripped? At any rate, I must challenge the Anarchism of one sentence in his otherwise masterful paper upon State Socialism and Anarchism. If I am wrong, I stand open to conviction. It is this: They [Anarchists] look forward to a time … when the children born of these relations shall belong exclusively to the mothers until old enough to belong to themselves.(44 ¶ 1) Now, that looks to me like an authoritarian statement that is in opposition to theoretical Anarchy, and also to nature. What is the matter with leaving the question of the control...