Browsing By Tag "credit"
If I am not deceived, my readers must be convinced at least of one thing, that Social Truth is not to be looked for either in Utopia or in the Old Routine; that Political Economy is not the Science of Society, and yet that it contains the elements of such a science, even as chaos before creation contained the elements of the universe; and finally, that in order to arrive at the definitive organization which would appear to be the destiny of our race upon this globe, it is only necessary to make a general equation of all our contradictions. But what shall be the formula of this equation? Already we have been enabled to perceive, that it must be a Law of Exchange, a theory of Mutualism, a system of Guarantees, which dissolves the old forms of... (From : proudhonlibrary.org.)
To Business Men. To you, business men, I dedicate these new essays. You have always been the boldest, the most skillful revolutionaries. It was you who, from the third century of the Christian era, drew the winding-sheet over the Roman Empire in Gaul, by your municipal federations. Had it not been for the barbarians, whose coming suddenly changed the aspect of affairs, the republic which you established would have ruled the Middle Ages. Remember that the monarchy in our country is Frankish, not Gallic. It was you who later vanquished feudalism, arraying the town against the castle, the king against the vassals. Finally, it was you who, for eighty years past, have proclaimed, one after the other, all the revolutionary ideas—liberty of worship, liberty of the press, liberty of association, liberty of commerce and industry: it is you who, by your cleverly drawn constitutions, have curbed the altar and the throne, and established upon a permane...
These days these words "freedom and equality" are part of the vocabulary of each and every one of us. But make a few inquiries and ask: What is freedom? and you will be told "Freedom means freedom of opinion, freedom of the press, freedom of association and assembly, the freedom of secrecy of correspondence". Ask: What is equality? and you will be told: "All citizens are equal before the law, with no difference between the high-born and the yokel." Now, such narrow definitions have nothing to do with true freedom, true equality. Don't believe me? Then have a read of the following. The blight upon the people's freedom is the State. Ever since the State came into existence, we have stopped being free. No matter what we do or say, the State st... (From : Kate Sharpley Library, http://www.katesharpleylibr....)
Editor's Note and Foreword 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. PUBLISHER'S NOTE C.L.S., the editor and compiler of this book, has known Benjamin R. Tucker personally since 1891, having entered his employ at that time in the mechanical department of Liberty, Mr. Tucker's journal for the exposition of Individualist Anarchism. After that time and until the final suspension of publication of Liberty, C.L.S. contributed many articles to the columns of that periodical, both signed and unsigned, usually in the editorial department. For a considerable period he had complete editorial charge, during Mr. Tucker's absence. Thus the present work has been performed by one who has entire familiarity with Liberty's philosophy and who perha...
[Liberty, May 24, 1890.] It is questionable whether Herbert Spencer will relish Mr. Donisthorpe’s classification of him as one of four lights of Anarchy. I think he would be justified in putting in a disclaimer. No doubt Anarchy is immeasurably indebted to Mr. Spencer for a phenomenally clear exposition of its bottom truths. But he entertains heresies on the very questions which Mr. Donisthorpe raises that debar him from recognition as an Anarchist. His belief in compulsory taxation and his acceptance of the majority principle, not as a temporary necessity, but as permanently warranted within a certain sphere, show him to be unfaithful to his principle of equal liberty, as Mr. Donisthorpe has convincingly demonstrated in his recent book on Individualism. I am sure that his answers to Mr. Donisthorpe’s questions would widely differ from any that Mr. Yarros...
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 Arguments Drawn from the Operations of the Bank of France It is not true--and the facts just cited prove beyond a doubt that it is not--that the decrease of interest is proportional to the increase of capital. Between the price of merchandise and interest of capital there is not the least analogy; the laws governing their fluctuations are not the same; and all your dinning of the last six weeks in relation to capital and interest has been utterly devoid of sense. The universal custom of banks and the common sense of the people give you the lie on all these points in a most humiliat... (From : Anarchy Archives.)
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.)
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 The Circulation of Capital, Not Capital Itself, Gives Birth to Progress Thus it is with interest on capital, legitimate when a loan was a service rendered by citizen to citizen, but which ceases to be so when society has acquired the power to organize credit gratuitously for everybody. This interest, I say, is contradictory in its nature, in that, on the one hand, the service rendered by the lender is entitled to remuneration, and that, on the other, all wages suppose either a production or a sacrifice, which is not the case with a loan. The revolution which is effected in the legi... (From : Anarchy Archives.)
Fellow Laborers, Brothers, Sisters, of the Great Human Family: 'I APPEAR before you not as a silver tongued speaker to tickle your fancies, please your conceits, or to call forth your applause by lofty flights of oratory; but as a cool and deliberate sympathizer in your labors, sufferings, hopes and fears; as one who for years has studied to find out what the matter is in this favored land, that possesses all the elements of prosperity of all other countries in the world; that there can be at the same time creaking warehouses, burdened by the surplus products, and also millions starving. Mothers agonizing for their children who cry for bread they have not to give; fathers desperate and ready for almost anything that promises redress. I come... (From : RevoltLib.com.)
A Letter to Grover Cleveland, on his false Inaugural Address, the Usurpations and Crimes of Lawmakers and Judges, and the consequent Poverty, Ignorance, and Servitude of the People A LETTER TO GROVER CLEVELAND. Section I. To Grover Cleveland: Sir, Your inaugural address is probably as honest, sensible, and consistent a one as that of any president within the last fifty years, or, perhaps, as any since the foundation of the government. If, therefore, it is false, absurd, self-contradictory, and ridiculous, it is not (as I think) because you are personally less honest, sensible, or consistent than your predecessors, but because the government itself—according to your own description of it, and according to the practical administration o... (From : Anarchy Archives.)
“Be realistic, do the impossible” A Libertarian Marx? Marx’s famous address “The Civil War in France”, written in the name of the General Council of the International Working Mens Association two days after the crushing of the Paris Commune, is an inspiring text for Libertarians. Writing in the name of the International in which Bakunin had extensive influence, in it Marx revises some passages of the Communist Manifesto of 1848. In the Manifesto Marx and Engels had developed the notion of a proletarian evolution by stages. The first stage would be the conquest of political power, thanks to which the instruments of production, means of transport and credit system, would ‘by degrees’, be centralized i... (From : TheAnarchistLibrary.org.)
Dr. Malthus, an economist, an Englishman, once wrote the following words: “A man who is born into a world already possessed, if he cannot get subsistence from his parents on whom he has a just demand, and if the society do not want his labor, has no claim of right to the smallest portion of food, and, in fact, has no business to be where he is. At nature’s mighty feast there is no vacant cover for him. She tells him to be gone, and will quickly execute her own orders...” As a consequence of this great principle, Malthus recommends, with the most terrible threats, every man who has neither labor nor income upon which to live to take himself away, or at any rate to have no more children. A family, — that is, love, &mda... (From : anarchism.pageabode.com.)
A NEW BANKING SYSTEM THE NEEDFUL CAPITAL FOR REBUILDING THE BURNT DISTRICT By LYSADNER SPOONER. BOSTON: SOLD BY A. WILLIAMS & CO. 135 WASHINGTON SREET 1873 Entered according to Act of Congress, in the year 1873, By LYSANDER SPOONER, In the office of the Librarian of Congress, at Washington. Printed by WARREN RICHARDSON, 112 Washington St. C O N T E N T S. CHAPTER I. A New Banking System CHAPTER II. Specie Payments CHAPTER III. No Inflation Prices CHAPTER IV. Security of the System CHAPTER V. The System as a Credit System CHAPTER VI. Amount of Currency Needed CHAPTER VII. Importance of the System to Massachusetts, CHAPTER VIII. The True Character of the "National" System CHAPTER IX. Amasa Walker's Opinion of the Author's System The... (From : Anarchy Archives.)
Lysander Spooner, Poverty: Its Illegal Causes and Legal Cures. Boston: Bela Marsh, No. 25 Cornhill. 1846. CHAPTER 1: ILLEGAL CAUSES OF POVERTY The existing poverty would be rapidly removed, and future poverty almost entirely prevented, a more equal distribution of property than now exists accomplished, and the aggregate wealth of society greatly increased, if the principles of natural law, and of our national and state constitutions generally, were adhered to by the judiciary in their decisions in regard to contracts. These principles are violated by the judiciary in various ways, to wit: 1. In a manner to uphold arbitrary and unconstitutional statutes against freedom in banking, and freedom in the rate of interest; thus denying the natural and constitutional right of the people to make two classes of contracts, which will hereafter be shown to be of vital importance, both to the general increase and to the more equal...
Its Nature, Object, and Destiny
The Revolution of February raised two leading questions: one economic, the question of labor and property; the other political, the question of government or the State. On the first of these questions the socialistic democracy is substantially in accord. They admit that it is not a question of the seizure and division of property, or even of its repurchase. Neither is it a question of dishonorably levying additional taxes on the wealthy and property-holding classes, which, while violating the principle of property recognized in the constitution, would serve only to overturn the general economy and aggravate the situation of the proletariat. The economic reform consists, on the one hand, in opening usurious credit to competition and thereby ... (From : proudhonlibrary.org.)
THOMAS DREW vs. JOHN M. CLARK. ARGUMENT FOR PETITIONER. Lysander Spooner The alleged contempt for which the petitioner was condemned consisted in his refusal to be sworn before a committee of the legislature; not in his refusal to answer questions after he had been sworn, but in his refusal to be sworn. His objection to being sworn did not arise from any conscientious scruples as to taking an oath; nor from any fear of criminating himself; nor from any objection whatever to testifying before a committee of the legislature; nor from any objection to testifying in regard to any subject-matter whatever which the legislature has authority to investigate by compulsory testimony. He concedes fully that, if anybody could be compelled to be sworn i... (From : Anarchy Archives.)
Again there are murders, again disturbances and slaughter in the streets, again we shall have executions, terror, false accusations, threats and anger on the one side; and hatred, thirst for vengeance, and readiness for self-sacrifice, on the other. Again all Russians are divided into two hostile camps, and are committing and preparing to commit the greatest crimes. Very possibly the disturbances that have now broken out may be suppressed, though it is also possible that the troops of soldiers and of police, on whom the Government place such reliance, may realize that they are being called on to commit the terrible crime of fratricide-and may refuse to obey. But even if the present disturbance is suppressed, it will not be extinguished, but... (From : Anarchy Archives.)