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The Production of Security
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of this intangible commodity, remain subject to the law of free competition.

Whence it follows:

That no government should have the right to prevent another government from going into competition with it, or to require consumers of security to come exclusively to it for this commodity.

Nevertheless, I must admit that, up until the present, one recoiled before this rigorous implication of the principle of free competition.

One economist who has done as much as anyone to extend the application of the principle of liberty, Charles Dunoyer, thinks "that the functions of government will never be able to fall into the domain of private activity."[1]

Now here is a citation of a clear and obvious exception to the principle of free competition.


  1. In his remarkable book De la liberté du travail (On the Freedom of Labor), Vol. III, p. 253. (Published by Guillaumin.)