Free Banking 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 1889, Mr. Hugo Bilgram first published his "Involuntary Idleness," which Mr. Tucker characterized as the most important book of the generation. But, while admiring the author's examination of the relation between unemployment and interest on money, and while agreeing with his conclusion that "an expansion of the volume of money, by extending the issue of credit money, will prevent business stagnation and involuntary idleness," the editor of Liberty had one substantial disagreement with Mr. Bilgram, which he stated thus: When Mr. Bilgram proposes that the government shall carry on (and presumably monopolize, though this is not clearly stated) the business of issui...
or An Essay on the Right of Authors and Inventors to a Perpetual Property in their IdeasSECTION V. What Things are Subjects of Property? Every conceivable thing, whether intellectual, moral, or material, of which the mind can take cognizance, and which can be possessed, held, used, controlled, and enjoyed, by one person, and not, at the same instant of time, by another person, is rightfully a subject of property. All the wealth, that has before been described—that is, all the things, intellectual, moral, emotional, or material, that can contribute to, or constitute, the happiness or well-being of man; and that can be possessed by one man, and not at the same time by another, is rightfully a subject of property—that is, of individual ownership, control, dominion, use, and enjoyment. The air, that a man inhales, is his, while it is inhaled. When he has exhaled it, it is no longer his. The air that he may enclose in a bottle, or in his dwelling,...