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and a privilege, the result of which is the maintenance of interest, rent, and profits at rates ruinous to labor and destructive to business. And the only way that labor can ever get capital is by striking down this monopoly and making the issue of money as free as the manufacture of shoes. To demonetize silver or gold will not help labor; what labor needs is the monetization of all marketable wealth. Or, at least, the opportunity of such monetization. This can only be secured by absolutely free competition in banking. Again I ask you, Professor Sumner, does your anxiety lest the individual be interfered with cover the field of finance? Are you willing that the individual shall be "let alone" in the exercise of his right to make his own money and offer it in open market to be taken by those who choose? To this test I send you a second summons under the same penalty that I have already hung over your head in case you fail to respond to the first. The columns of Liberty are open for your answer.

Before you make it, let me urge you to consistency. The battle between free trade and protection is simply one phase of the battle between Anarchism and State Socialism. To be a consistent free trader is to be an Anarchist; to be a consistent protectionist is to be a State Socialist. You are assailing that form of State Socialism known as protection with a vigor equalled by no other man, but you are rendering your blows of little effect by maintaining, or encouraging the belief that you maintain, those forms of State Socialism known as compulsory taxation and the banking monopoly. You assail Marx and Most mercilessly, but fail to protest against the most dangerous manifestations of their philosophy. Why pursue this confusing course? In reason's name, be one thing or the other! Cease your indiscriminate railing at Socialism, for to be consistent you must be Socialist yourself, either of the Anarchistic or the governmental sort: either be a State Socialist and denounce liberty everywhere and always, or be an Anarchist and denounce authority everywhere and always; else you must consent to be taken for what you will appear to be,—an impotent hybrid.