Pierre-Joseph Proudhon is regarded as the founder of modern anarchism, a label he adopted in his groundbreaking work What is Property? Or, an Inquiry into the Principle of Right and Government () published in 1840. In it he asks "What is property?", a question that he answers with the famous accusation "Property is theft". Proudhon's theory of mutualism rejects the state, capitalism, and communism. It calls for a co-operative society in which the free associations of individuals are linked in a decentralised federation based on a "Bank of the People" that supplies workers with free credit. He contrasted this with what he called "possession", or limited ownership of resources and goods only while in more or less continuous use. Later, Proudhon also added that "Property is liberty" and argued that it was a bulwark against state power. Mutualists would later play an important role in the First International, especially at the first two Congresses held in Geneva and Lausanne, but diminished in European influence with the rise of anarcho-communism. Instead, Mutualism would find fertile ground among American individualists in the late 19th century. In Spain, Ramón de la Sagra established the anarchist journal El Porvenir in La Coruña in 1845 which was inspired by Proudhon's ideas. Catalan politician Francesc Pi i Margall became the principal translator of Proudhon's works into Spanish. He would later briefly become president of Spain in 1873 while leader of the Democratic Republican Federal Party, where he tried to implement some of Proudhon's ideas. An influential form of individualist anarchism called egoism or egoist anarchism, was expounded by one of the earliest and best-known proponents of individualist anarchism, German philosopher Max Stirner. Stirner's The Ego and Its Own (; also translated as The Individual and his Property or The Unique and His Property), published in 1844, is a founding text of the philosophy. Stirner was critical of capitalism as it creates class warfare where the rich will exploit the poor, using the state as its tool. He also rejected religions, communism and liberalism, as all of them subordinate individuals to God, a collective, or the state. According to Stirner the only limitation on the rights of the individual is their power to obtain what they desire, without regard for God, state, or morality. He held that society does not exist, but "the individuals are its reality". Stirner advocated self-assertion and foresaw unions of egoists, non-systematic associations