A Misinterpretation of Anarchism [Liberty, March 8, 1890.] One of the most interesting papers that come to this office is the Personal Rights Journal of London. Largely written by men like J. H. Levy and Wordsworth Donisthorpe, it could not be otherwise. Virtually it champions the same political faith that finds an advocate in Liberty. It means by individualism what Liberty means by Anarchism. That it does not realize this fact, and that it assumes Anarchism to be something other than complete individualism, is the principal difference between us. This misunderstanding of Anarchism is very clearly and cleverly exhibited in a passage which I copy from a keen and thought-provoking lecture on The Outcome of Individualism, delivered...
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.)