A New Banking System: The Needful Capital for Rebuilding, The Burnt District
Jul 2025 · BEYOND BOOKS HUB
Ebook
58
Pages
reportRatings and reviews aren’t verified Learn More
shoppingmode50% price drop on Jul 2
About this ebook
A New Banking System by Lysander Spooner is a bold, insightful proposal for an alternative financial framework aimed at democratizing access to capital and revitalizing post-crisis economies. Written in response to the urgent need for economic recovery—specifically following the Great Fire of 1872 in Boston—Spooner's work outlines a visionary credit-based banking model tailored to meet the real needs of productive citizens, rather than speculative financiers. Structured across nine focused chapters, Spooner: Introduces a new model of decentralized banking that operates on mutual credit rather than exclusive state charters or gold-backed institutions. Argues for the abolition of specie-based (gold and silver) constraints, asserting that productive value—not metallic wealth—should determine a currency’s legitimacy. Debunks fears of inflation by showing how honest, asset-backed credit expansion can remain stable and secure. Emphasizes the security and self-regulation of his system, which relies on local production, mortgages, and real assets, rather than volatile markets or central control. Positions his proposal as not only economically sound but socially transformative, particularly for working-class citizens and local businesses seeking fair access to capital. In later chapters, Spooner critiques the prevailing "national" banking system and incorporates critical insights from economist Amasa Walker, who provided commentary on Spooner’s ideas. Ultimately, A New Banking System is a radical, yet meticulously argued blueprint for economic justice. It challenges centralized financial power and promotes a system that empowers communities to fund their own recovery and growth—making it a historically significant document in the tradition of American libertarian economic thought.
About the author
Lysander Spooner (1808–1887) was an American legal theorist, abolitionist, and early libertarian philosopher. Best known for his writings on natural law, constitutionalism, and anti-authoritarianism, Spooner fiercely opposed monopolies, slavery, and centralized power. His economic works advocate for voluntary cooperation, mutual credit, and radical individual liberty.
Rate this ebook
Tell us what you think.
Reading information
Smartphones and tablets
Install the Google Play Books app for Android and iPad/iPhone. It syncs automatically with your account and allows you to read online or offline wherever you are.
Laptops and computers
You can listen to audiobooks purchased on Google Play using your computer's web browser.
eReaders and other devices
To read on e-ink devices like Kobo eReaders, you'll need to download a file and transfer it to your device. Follow the detailed Help Center instructions to transfer the files to supported eReaders.
