But egoism is more than this. It is the realization by the individual that he is above all institutions and all formulas; that they exist only so far as he chooses to make them his own by accepting them.

However near and dear to you may be your wife, children, friends, they are not you; they are outside of you.

At present, financial crises occur, chiefly because the paper currency is redeemable in gold only.

When not only gold but all commodities are available for the redemption of the paper currency, its volume is limited only by the value of all the wealth of the country, and it can never become insecure up to this limit.

Accordingly, when the supply of gold runs short, the security behind the notes is diminished, the loaning of notes is restricted or suspended, and the panic follows.

In precisely the same way money is often hired, and the hire paid for the use of it is called Interest.

But egoism is more than this. It is the realization by the individual that he is above all institutions and all formulas; that they exist only so far as he chooses to make them his own by accepting them.