The Nature of the State [Liberty, October 22, 1887.] Below is reprinted from the London Jus the reply of F. W. Read to the editorial in No. 104 of Liberty, entitled Contract or Organism, What’s That to Us?.(5 ¶ 1) To the Editor of Jus:(5 ¶ 2) Sir,—Referring to Mr. Tucker’s criticisms on my letters in Jus dealing with Voluntary Taxation, the principle of a State organism seems to be at the bottom of th econtroversy. I will therefore deal with that first, although it comes last in Mr. Tucker’s article. Mr. Tucker asks whether the St...
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.)